Vault-13

BLOCK INC XYZ 0.125 03.01.25

NOTE 0.125% 3/0 · US DOMESTIC · CUSIP 852234AF0

79 institutional holders +2 vs Q1 2023
44,914,27144.9m shares reported held*
$960.8mreported value*
8 new 21 added 28 reduced 6 sold out net sold ≈ $22.5m (-3.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($19.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $21.83.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 76Q4 22: 77Q1 23: 77Q2 23: 7979Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202276
Q4 202277
Q1 202377
Q2 202379

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 22: 26 bought or addedQ4 22: 28 cut or sold outQ4 22Q1 23: 28 bought or addedQ1 23: 34 cut or sold outQ1 23Q2 23: 29 bought or addedQ2 23: 34 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222628
Q1 20232834
Q2 20232934

Biggest buyers

Echo Street Capital Management LLC New +27,250,000+27.2m
Calamos Advisors LLC Added +20,000,000+20.0m
DeepCurrents Investment Group LLC Added +18,020,000+18.0m
Magnetar Financial LLC New +17,000,000+17.0m
Linden Advisors LP Added +15,500,000+15.5m
WELLINGTON MANAGEMENT GROUP LLP Added +15,181,000+15.2m
MORGAN STANLEY Added +7,336,000+7.3m
DEUTSCHE BANK AG\ Added +5,478,000+5.5m
STATE STREET CORP Added +5,050,000+5.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +4,500,000+4.5m

Biggest sellers

LORD, ABBETT & CO. LLC Reduced -47,594,000-47.6m
Graham Capital Management, L.P. Reduced -41,800,000-41.8m
VOYA INVESTMENT MANAGEMENT LLC Reduced -32,410,000-32.4m
SSI INVESTMENT MANAGEMENT LLC Reduced -14,234,000-14.2m
RWC Asset Management LLP Reduced -9,000,000-9.0m
BNP PARIBAS FINANCIAL MARKETS Reduced -5,401,000-5.4m
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -4,100,000-4.1m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -3,598,000-3.6m
BANK OF MONTREAL /CAN/ Sold out -3,200,000-3.2m
Crystalline Management Inc. Reduced -3,000,000-3.0m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.10% of their portfolio NEW YORK, NY 84,330,00084.3m $79.9m $79.9m 0.10% Added +4.0m +4,031,000
2 Graham Capital Management, L.P. 2.56% of their portfolio ROWAYTON, CT 78,983,00079.0m $74.7m $74.7m 2.56% Reduced -41.8m -41,800,000
3 VOYA INVESTMENT MANAGEMENT LLC 0.08% of their portfolio ATLANTA, GA 77,145,00077.1m $73.1m $73.1m 0.08% Reduced -32.4m -32,410,000
4 ADVENT CAPITAL MANAGEMENT /DE/ 1.33% of their portfolio NEW YORK, NY 70,202,00070.2m $66.5m $66.5m 1.33% Reduced -3.6m -3,598,000
5 Calamos Advisors LLC 0.33% of their portfolio NAPERVILLE, IL 68,207,00068.2m $64.4m $64.4m 0.33% Added +20.0m +20,000,000
6 DeepCurrents Investment Group LLC 2.65% of their portfolio NEW YORK, NY 65,356,00065.4m $61.8m $61.8m 2.65% Added +18.0m +18,020,000
7 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 54,855,00054.9m $51.7m $51.7m 0.01% Unchanged
8 MacKay Shields LLC 1.21% of their portfolio New York, NY 45,843,00045.8m $43.4m $43.4m 1.21% Reduced -160.0k -160,000
9 Linden Advisors LP 0.44% of their portfolio New York, NY 44,550,00044.5m $42.1m $42.1m 0.44% Added +15.5m +15,500,000
10 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 36,091,00036.1m $34.0m $34.0m 0.01% Added +15.2m +15,181,000
11 Echo Street Capital Management LLC 0.22% of their portfolio New York, NY 27,250,00027.2m $25.8m $25.8m 0.22% New
12 SHENKMAN CAPITAL MANAGEMENT INC 2.01% of their portfolio NEW YORK, NY 27,106,00027.1m $25.7m $25.7m 2.01% Added +4.5m +4,469,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 25,474,00025.5m $24.0m $24.0m 0.00% Added +5.0m +5,050,000
14 SCHRODER INVESTMENT MANAGEMENT GROUP 0.03% of their portfolio London, X0 24,125,00024.1m $22.7m $22.7m 0.03% Reduced -4.1m -4,100,000
15 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 22,262,00022.3m $21.0m $21.0m 0.00% Added +157.0k +157,000
16 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio FRANKFURT AM MAIN, 2M 18,500,00018.5m $17.5m $17.5m 0.03% Unchanged
17 Magnetar Financial LLC 0.35% of their portfolio EVANSTON, IL 17,000,00017.0m $16.1m $16.1m 0.35% New
18 TENOR CAPITAL MANAGEMENT Co., L.P. 0.30% of their portfolio NEW YORK, NY 15,000,00015.0m $14.2m $14.2m 0.30% Added +4.5m +4,500,000
19 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 14,974,00015.0m $14.1m $14.1m 0.00% Added +7.3m +7,336,000
20 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 14,762,00014.8m $13.9m $13.9m 0.02% Reduced -319.0k -319,000
21 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 13,550,00013.6m $12.8m $12.8m 0.03% Reduced -1.5m -1,500,000
22 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 13,526,00013.5m $12.7m $12.7m 0.02% Reduced -47.6m -47,594,000
23 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 12,478,00012.5m $11.8m $11.8m 0.01% Added +5.5m +5,478,000
24 OMERS ADMINISTRATION Corp 0.15% of their portfolio TORONTO, A6 10,000,00010.0m $9.5m $9.5m 0.15% Unchanged
25 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 7,983,0008.0m $7.5m $7.5m 0.00% Reduced -1.7m -1,675,000
26 Man Group plc 0.02% of their portfolio LONDON, X0 7,545,0007.5m $7.1m $7.1m 0.02% Reduced -5.0k -5,000
27 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 6,275,0006.3m $5.9m $5.9m 0.00% Added +766.0k +766,000
28 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 6,089,0006.1m $5.7m $5.7m 0.01% Added +392.0k +392,000
29 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.02% of their portfolio Paris, I0 6,000,0006.0m $5.6m $5.6m 0.02% Unchanged
30 BlackRock Inc. 0.00% of their portfolio New York, NY 5,726,0005.7m $5.4m $5.4m 0.00% Reduced -100.0k -100,000
31 CQS (US), LLC 0.57% of their portfolio NEW YORK, NY 5,050,0005.0m $4.8m $4.8m 0.57% Unchanged
32 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 5,000,0005.0m $4.7m $4.7m 0.01% Added +2.5m +2,500,000
33 Walleye Capital LLC 0.08% of their portfolio NEW YORK, NY 5,000,0005.0m $4.7m $4.7m 0.08% Unchanged
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,917,0004.9m $4.6m $4.6m 0.00% Reduced -166.0k -166,000
35 MACQUARIE GROUP LTD 0.01% of their portfolio Sydney, NSW 2000, C3 4,873,0004.9m $4.6m $4.6m 0.01% Reduced -900.0k -900,000
36 AXA S.A. 0.01% of their portfolio PARIS, I0 4,750,0004.8m $4.5m $4.5m 0.01% Unchanged
37 CONNING INC. 0.14% of their portfolio HARTFORD, CT 4,600,0004.6m $4.3m $4.3m 0.14% Unchanged
38 AVIVA PLC 0.02% of their portfolio LONDON, X0 4,500,0004.5m $4.2m $4.2m 0.02% Added +1.0m +1,000,000
39 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 4,250,0004.2m $4.0m $4.0m 0.01% New
40 Amundi 0.00% of their portfolio Paris, I0 4,000,0004.0m $3.8m $3.8m 0.00% Unchanged
41 RWC Asset Management LLP 0.18% of their portfolio LONDON, X0 4,000,0004.0m $3.8m $3.8m 0.18% Reduced -9.0m -9,000,000
42 Crystalline Management Inc. 2.68% of their portfolio Montreal, Quebec, Z4 4,000,0004.0m $3.8m $3.8m 2.68% Reduced -3.0m -3,000,000
43 Liberty Mutual Group Asset Management Inc. 0.90% of their portfolio Boston, MA 3,760,0003.8m $3.5m $3.5m 0.90% Unchanged
44 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 3,683,0003.7m $3.5m $3.5m 0.01% Reduced -486.0k -486,000
45 JUPITER ASSET MANAGEMENT LTD 0.03% of their portfolio London, X0 2,750,0002.8m $2.6m $2.6m 0.03% Reduced -500.0k -500,000
46 EDMOND DE ROTHSCHILD HOLDING S.A. 0.05% of their portfolio CHAMBESY, V8 2,565,0002.6m $2.4m $2.4m 0.05% Unchanged
47 ZAZOVE ASSOCIATES LLC 0.17% of their portfolio INCLINE VILLAGE, NV 2,000,0002.0m $1.9m $1.9m 0.17% Unchanged
48 WATER ISLAND CAPITAL LLC 0.18% of their portfolio NEW YORK, NY 2,000,0002.0m $1.9m $1.9m 0.18% Unchanged
49 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 1,826,0001.8m $1.7m $1.7m 0.00% Reduced -5.4m -5,401,000
50 SSI INVESTMENT MANAGEMENT LLC 0.07% of their portfolio Los Angeles, CA 1,088,0001.1m $1.0m $1.0m 0.07% Reduced -14.2m -14,234,000
51 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,056,0001.1m $995.3k $995.3k 0.00% New
52 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 1,000,0001.0m $967.0k $967.0k 0.00% Reduced -1.1m -1,075,000
53 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 630,000630.0k $585.9k $585.9k 0.00% Added +77.0k +77,000
54 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 577,000577.0k $543.8k $543.8k 0.00% Unchanged
55 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 546,000546.0k $516.1k $516.1k 0.00% Unchanged
56 FMR LLC 0.00% of their portfolio BOSTON, MA 309,000309.0k $291.2k $291.2k 0.00% Reduced -309.0k -309,000
57 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 260,000260.0k $264.4k $264.4k 0.00% Reduced -265.0k -265,000
58 Northwest & Ethical Investments L.P. 0.01% of their portfolio TORONTO, A6 250,000250.0k $236.4k $236.4k 0.01% Unchanged
59 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 233,049233.0k $154.3k $154.3k 0.00% Unchanged
60 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 76,00076.0k $71.6k $71.6k 0.00% Added +16.0k +16,000
61 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 67,00067.0k $63.0k $63.0k 0.00% Added +36.0k +36,000
62 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 63,00063.0k $59.6k $59.6k 0.00% Reduced -2.8m -2,753,000
63 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 54,25454.3k $3.6m $3.6m 0.01% Reduced -1.2k -1,190
64 Goldstein Advisors, LLC 0.00% of their portfolio Madison, WI 23,00023.0k $21.7k $21.7k 0.00% Unchanged
65 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 22,00022.0k $20.7k $20.7k 0.00% Unchanged
66 Verition Fund Management LLC 0.31% of their portfolio GREENWICH, CT 20,89720.9k $19.8m $19.8m 0.31% Added +5.8k +5,761
67 Balboa Wealth Partners 0.01% of their portfolio SCOTTSDALE, AZ 19,00019.0k $17.9k $17.9k 0.01% Reduced -2.0k -2,000
68 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 17,00017.0k $16.0k $16.0k 0.00% Added +1.0k +1,000
69 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 12,00012.0k $11.3k $11.3k 0.00% Added +2.0k +2,000
70 Marcum Wealth, LLC 0.00% of their portfolio CLEVELAND, OH 11,00011.0k $10.4k $10.4k 0.00% Reduced -7.0k -7,000
71 Iron Horse Wealth Management, LLC 0.00% of their portfolio JOHSTON, IA 8,0008.0k $7.5k $7.5k 0.00% Unchanged
72 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 7,0007.0k $6.6k $6.6k 0.00% Unchanged
73 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 4,5004.5k $433.0k $433.0k 0.00% Reduced -30.0k -30,000
74 Alpine Global Management, LLC 0.61% of their portfolio NEW YORK, NY 4,5004.5k $4.2m $4.2m 0.61% New
75 NINE MASTS CAPITAL Ltd 2.90% of their portfolio CENTRAL, K3 4,0004.0k $3.8m $3.8m 2.90% New
76 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 3,0003.0k $282.8k $282.8k 0.00% New
77 LAFFER TENGLER INVESTMENTS, INC. 0.63% of their portfolio Scottsdale, AZ 2,5172.5k $2.4m $2.4m 0.63% Reduced -117 -117
78 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 1,0001.0k $948 $948 0.00% New
79 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged