Vault-13

BLOCK INC XYZ 0.125 03.01.25

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

60 institutional holders -13 vs Q2 2024
48,464,50048.5m shares reported held*
$986.1mreported value*
8 new 14 added 22 reduced 20 sold out net sold ≈ $12.7m (-10.9m 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 ($18.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $20.73.

Trends to Q3 2024

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 76Q4 22: 77Q1 23: 77Q2 23: 79Q3 23: 83Q4 23: 76Q1 24: 68Q2 24: 73Q3 24: 6060Q3 22Q1 23Q3 23Q1 24Q3 24
Numbers
QuarterHolders
Q3 202276
Q4 202277
Q1 202377
Q2 202379
Q3 202383
Q4 202376
Q1 202468
Q2 202473
Q3 202460

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 22: 26 bought or addedQ4 22: 28 cut or sold outQ1 23: 28 bought or addedQ1 23: 34 cut or sold outQ1 23Q2 23: 29 bought or addedQ2 23: 34 cut or sold outQ3 23: 35 bought or addedQ3 23: 31 cut or sold outQ3 23Q4 23: 30 bought or addedQ4 23: 46 cut or sold outQ1 24: 28 bought or addedQ1 24: 36 cut or sold outQ1 24Q2 24: 35 bought or addedQ2 24: 35 cut or sold outQ3 24: 22 bought or addedQ3 24: 42 cut or sold outQ3 24
Numbers
QuarterBought or addedCut or sold out
Q4 20222628
Q1 20232834
Q2 20232934
Q3 20233531
Q4 20233046
Q1 20242836
Q2 20243535
Q3 20242242

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. Added +171,000,000+171.0m
OSTERWEIS CAPITAL MANAGEMENT INC New +25,000,000+25.0m
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +18,238,000+18.2m
ROYAL BANK OF CANADA Added +15,814,000+15.8m
MILLENNIUM MANAGEMENT LLC New +10,000,000+10.0m
ARISTEIA CAPITAL, L.L.C. Added +9,679,000+9.7m
BANK OF MONTREAL /CAN/ New +8,300,000+8.3m
Jefferies Financial Group Inc. Added +7,567,000+7.6m
DeepCurrents Investment Group LLC Added +5,000,000+5.0m
CITIGROUP INC Added +4,983,000+5.0m

Biggest sellers

III Capital Management Sold out -72,325,000-72.3m
Verition Fund Management LLC Reduced -30,000,000-30.0m
VOYA INVESTMENT MANAGEMENT LLC Reduced -23,340,000-23.3m
JPMORGAN CHASE & CO Reduced -21,698,000-21.7m
CITADEL ADVISORS LLC Sold out -20,500,000-20.5m
Daiwa Securities Group Inc. Sold out -17,500,000-17.5m
Nuveen Asset Management, LLC Sold out -15,000,000-15.0m
STEELHEAD PARTNERS LLC Sold out -14,500,000-14.5m
BANK OF NOVA SCOTIA Sold out -12,000,000-12.0m
SONA ASSET MANAGEMENT (US) LLC Sold out -12,000,000-12.0m

Holders, Q3 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 3.45% of their portfolio NEW YORK, NY 251,000,000251.0m $246.0m $246.0m 3.45% Added +171.0m +171,000,000
2 VOYA INVESTMENT MANAGEMENT LLC 0.11% of their portfolio ATLANTA, GA 106,180,000106.2m $104.2m $104.2m 0.11% Reduced -23.3m -23,340,000
3 DeepCurrents Investment Group LLC 2.08% of their portfolio NEW YORK, NY 66,139,00066.1m $64.8m $64.8m 2.08% Added +5.0m +5,000,000
4 Calamos Advisors LLC 0.29% of their portfolio NAPERVILLE, IL 63,799,00063.8m $62.5m $62.5m 0.29% Reduced -857.0k -857,000
5 LAZARD ASSET MANAGEMENT LLC 0.08% of their portfolio NEW YORK, NY 60,080,00060.1m $59.0m $59.0m 0.08% Added +323.0k +323,000
6 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 53,256,00053.3m $52.1m $52.1m 0.01% Reduced -1.6m -1,601,000
7 ARISTEIA CAPITAL, L.L.C. 1.48% of their portfolio GREENWICH, CT 42,551,00042.6m $41.8m $41.8m 1.48% Added +9.7m +9,679,000
8 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.05% of their portfolio BALA CYNWYD, PA 30,238,00030.2m $29.5m $29.5m 0.05% Added +18.2m +18,238,000
9 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 29,800,00029.8m $29.2m $29.2m 0.05% Unchanged
10 OSTERWEIS CAPITAL MANAGEMENT INC 1.24% of their portfolio SAN FRANCISCO, CA 25,000,00025.0m $24.5m $24.5m 1.24% New
11 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 21,907,00021.9m $21.4m $21.4m 0.00% Added +15.8m +15,814,000
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 20,224,00020.2m $19.8m $19.8m 0.00% Reduced -550.0k -550,000
13 Verition Fund Management LLC 0.12% of their portfolio GREENWICH, CT 18,763,00018.8m $18.4m $18.4m 0.12% Reduced -30.0m -30,000,000
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 18,392,00018.4m $18.0m $18.0m 0.00% Added +5.0m +4,952,000
15 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 13,863,00013.9m $13.6m $13.6m 0.03% Reduced -87.0k -87,000
16 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 13,092,50013.1m $12.8m $12.8m 0.00% Reduced -2.7m -2,653,500
17 Opti Capital Management, LP 0.75% of their portfolio New York, NY 13,081,00013.1m $12.8m $12.8m 0.75% Unchanged
18 Paloma Partners Management Co 0.67% of their portfolio GREENWICH, CT 12,786,00012.8m $12.5m $12.5m 0.67% Reduced -600.0k -600,000
19 ADVENT CAPITAL MANAGEMENT /DE/ 0.27% of their portfolio NEW YORK, NY 11,174,00011.2m $11.0m $11.0m 0.27% Reduced -216.0k -216,000
20 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 10,519,00010.5m $10.3m $10.3m 0.01% Added +5.0m +4,983,000
21 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 10,000,00010.0m $9.8m $9.8m 0.01% New
22 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio FRANKFURT AM MAIN, 2M 10,000,00010.0m $9.8m $9.8m 0.01% Reduced -1.5m -1,500,000
23 Magnetar Financial LLC 0.20% of their portfolio EVANSTON, IL 9,379,0009.4m $9.2m $9.2m 0.20% Unchanged
24 Jefferies Financial Group Inc. 0.14% of their portfolio NEW YORK, NY 8,677,0008.7m $8.5m $8.5m 0.14% Added +7.6m +7,567,000
25 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 8,300,0008.3m $8.1m $8.1m 0.00% New
26 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 8,126,0008.1m $8.0m $8.0m 0.00% Reduced -21.7m -21,698,000
27 Man Group plc 0.02% of their portfolio LONDON, X0 6,975,0007.0m $6.8m $6.8m 0.02% Unchanged
28 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 6,497,0006.5m $6.4m $6.4m 0.01% Reduced -2.5m -2,525,000
29 PALISADE CAPITAL MANAGEMENT, LP 0.16% of their portfolio FORT LEE, NJ 6,079,0006.1m $5.9m $5.9m 0.16% Reduced -14.0k -14,000
30 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 5,003,0005.0m $4.9m $4.9m 0.00% Added +3.8m +3,784,000
31 FMR LLC 0.00% of their portfolio BOSTON, MA 4,957,0005.0m $4.8m $4.8m 0.00% Reduced -6.9m -6,943,000
32 Fort Baker Capital Management LP 0.70% of their portfolio Larkspur, CA 4,268,0004.3m $4.2m $4.2m 0.70% Reduced -7.7m -7,732,000
33 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 4,250,0004.2m $4.1m $4.1m 0.01% Unchanged
34 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 4,086,0004.1m $4.0m $4.0m 0.00% Reduced -6.8m -6,788,000
35 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 4,000,0004.0m $3.9m $3.9m 0.00% New
36 Amundi 0.00% of their portfolio Paris, I0 4,000,0004.0m $3.9m $3.9m 0.00% Unchanged
37 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 3,836,0003.8m $3.8m $3.8m 0.00% Reduced -1.0m -1,046,000
38 CONNING INC. 0.12% of their portfolio HARTFORD, CT 3,600,0003.6m $3.5m $3.5m 0.12% Unchanged
39 MacKay Shields LLC 0.09% of their portfolio New York, NY 3,258,0003.3m $3.2m $3.2m 0.09% Reduced -72.0k -72,000
40 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,608,0002.6m $2.5m $2.5m 0.00% Unchanged
41 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 2,554,0002.6m $2.5m $2.5m 0.00% Unchanged
42 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 1,655,0001.7m $1.6m $1.6m 0.00% Reduced -760.0k -760,000
43 OAKTREE CAPITAL MANAGEMENT LP 0.02% of their portfolio LOS ANGELES, CA 1,253,0001.3m $1.2m $1.2m 0.02% Reduced -554.0k -554,000
44 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 1,007,0001.0m $986.0k $986.0k 0.00% Added +314.0k +314,000
45 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $293.9k $293.9k 0.00% Unchanged
46 Northwest & Ethical Investments L.P. 0.01% of their portfolio TORONTO, A6 250,000250.0k $244.0k $244.0k 0.01% Unchanged
47 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 230,000230.0k $225.2k $225.2k 0.00% Unchanged
48 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 95,00095.0k $92.9k $92.9k 0.00% Reduced -7.0k -7,000
49 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 92,00092.0k $89.9k $89.9k 0.00% Added +9.0k +9,000
50 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 45,00045.0k $44.0k $44.0k 0.00% Reduced -3.0k -3,000
51 SSI INVESTMENT MANAGEMENT LLC 0.00% of their portfolio Los Angeles, CA 44,00044.0k $43.0k $43.0k 0.00% Unchanged
52 Virtus Investment Advisers, LLC 0.03% of their portfolio HARTFORD, CT 35,00035.0k $34.2k $34.2k 0.03% New
53 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 25,60025.6k $2.5m $2.5m 0.01% Unchanged
54 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 19,00019.0k $18.6k $18.6k 0.00% New
55 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 17,00017.0k $16.6k $16.6k 0.00% Unchanged
56 Balboa Wealth Partners 0.00% of their portfolio SCOTTSDALE, AZ 17,00017.0k $16.5k $16.5k 0.00% New
57 Context Capital Management, LLC 0.35% of their portfolio LAJOLLA, CA 13,00013.0k $12.8m $12.8m 0.35% Added +5.0k +5,000
58 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 9,0009.0k $8.8k $8.8k 0.00% Added +2.0k +2,000
59 Alpine Global Management, LLC 0.59% of their portfolio NEW YORK, NY 2,5002.5k $2.4m $2.4m 0.59% New
60 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged