Vault-13

TELADOC HEALTH INC TDOC 1.25 06.01.27

NOTE 1.250% 6/0 · US DOMESTIC · CUSIP 87918AAF2

49 institutional holders -3 vs Q4 2025
10,081,00010.1m shares reported held*
$992.4mreported value*
7 new 9 added 13 reduced 10 sold out net sold ≈ $37.4m (+881.0k 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 ($3.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $98.74.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 63Q4 22: 69Q1 23: 68Q2 23: 67Q3 23: 67Q4 23: 73Q1 24: 64Q2 24: 68Q3 24: 62Q4 24: 58Q1 25: 55Q2 25: 57Q3 25: 55Q4 25: 52Q1 26: 4949Q3 22Q3 23Q3 24Q3 25Q1 26
Numbers
QuarterHolders
Q3 202263
Q4 202269
Q1 202368
Q2 202367
Q3 202367
Q4 202373
Q1 202464
Q2 202468
Q3 202462
Q4 202458
Q1 202555
Q2 202557
Q3 202555
Q4 202552
Q1 202649

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 24: 24 bought or addedQ2 24: 24 cut or sold outQ3 24: 21 bought or addedQ3 24: 34 cut or sold outQ3 24Q4 24: 20 bought or addedQ4 24: 23 cut or sold outQ1 25: 20 bought or addedQ1 25: 24 cut or sold outQ1 25Q2 25: 16 bought or addedQ2 25: 16 cut or sold outQ3 25: 25 bought or addedQ3 25: 23 cut or sold outQ3 25Q4 25: 14 bought or addedQ4 25: 23 cut or sold outQ1 26: 16 bought or addedQ1 26: 23 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20242424
Q3 20242134
Q4 20242023
Q1 20252024
Q2 20251616
Q3 20252523
Q4 20251423
Q1 20261623

Biggest buyers

Balyasny Asset Management L.P. Added +37,400,000+37.4m
D. E. Shaw & Co., Inc. Added +7,500,000+7.5m
CAMDEN ASSET MANAGEMENT L P /CA Added +7,000,000+7.0m
PIPER SANDLER & CO. New +4,932,000+4.9m
BlackRock, Inc. Added +3,600,000+3.6m
WELLS FARGO & COMPANY/MN Added +2,513,000+2.5m
SSI INVESTMENT MANAGEMENT LLC New +2,396,000+2.4m
JPMORGAN CHASE & CO New +933,000+933.0k
Context Capital Management, LLC Added +844,000+844.0k
Jefferies Financial Group Inc. New +425,000+425.0k

Biggest sellers

UBS Group AG Sold out -34,324,000-34.3m
Opti Capital Management, LP Reduced -20,000,000-20.0m
LAZARD ASSET MANAGEMENT LLC Sold out -16,243,000-16.2m
WELLINGTON MANAGEMENT GROUP LLP Sold out -12,684,000-12.7m
ARISTEIA CAPITAL, L.L.C. Sold out -9,500,000-9.5m
MacKay Shields LLC Reduced -7,689,000-7.7m
OAKTREE CAPITAL MANAGEMENT LP Reduced -5,409,000-5.4m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -5,167,000-5.2m
PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. Sold out -4,987,000-5.0m
SSI INVESTMENT MANAGEMENT LLC Sold out -2,396,000-2.4m

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 2.80% of their portfolio NEW YORK, NY 188,653,000188.7m $181.7m $181.7m 2.80% Unchanged
2 D. E. Shaw & Co., Inc. 0.11% of their portfolio New York, NY 146,917,000146.9m $141.1m $141.1m 0.11% Added +7.5m +7,500,000
3 Context Capital Management, LLC 2.61% of their portfolio LAJOLLA, CA 117,959,000118.0m $113.1m $113.1m 2.61% Added +844.0k +844,000
4 Radcliffe Capital Management, L.P. 8.28% of their portfolio BALA CYNWYD, PA 115,750,000115.8m $110.4m $110.4m 8.28% Unchanged
5 Balyasny Asset Management L.P. 0.16% of their portfolio Chicago, IL 84,968,00085.0m $81.4m $81.4m 0.16% Added +37.4m +37,400,000
6 CAMDEN ASSET MANAGEMENT L P /CA 2.03% of their portfolio Los Angeles, CA 62,641,00062.6m $59.8m $59.8m 2.03% Added +7.0m +7,000,000
7 DeepCurrents Investment Group LLC 2.17% of their portfolio NEW YORK, NY 55,000,00055.0m $52.7m $52.7m 2.17% Unchanged
8 Opti Capital Management, LP 3.46% of their portfolio New York, NY 50,000,00050.0m $48.0m $48.0m 3.46% Reduced -20.0m -20,000,000
9 MARSHALL WACE, LLP 0.05% of their portfolio LONDON, X0 46,000,00046.0m $44.1m $44.1m 0.05% Unchanged
10 OAKTREE CAPITAL MANAGEMENT LP 0.54% of their portfolio LOS ANGELES, CA 33,070,00033.1m $31.7m $31.7m 0.54% Reduced -5.4m -5,409,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 20,706,00020.7m $19.8m $19.8m 0.00% Reduced -850.0k -850,000
12 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 16,250,00016.2m $15.6m $15.6m 0.06% Unchanged
13 BlackRock, Inc. 0.00% of their portfolio New York, NY 16,215,00016.2m $15.5m $15.5m 0.00% Added +3.6m +3,600,000
14 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 15,802,00015.8m $15.1m $15.1m 0.00% Added +2.5m +2,513,000
15 ADVENT CAPITAL MANAGEMENT /DE/ 0.41% of their portfolio NEW YORK, NY 14,539,00014.5m $14.0m $14.0m 0.41% Reduced -5.2m -5,167,000
16 MacKay Shields LLC 0.26% of their portfolio New York, NY 7,505,0007.5m $7.2m $7.2m 0.26% Reduced -7.7m -7,689,000
17 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 5,211,0005.2m $5.0m $5.0m 0.01% Reduced -326.0k -326,000
18 PIPER SANDLER & CO. 4.59% of their portfolio MINNEAPOLIS, MN 4,932,0004.9m $4.7m $4.7m 4.59% New
19 Kohlberg Kravis Roberts & Co. L.P. 0.08% of their portfolio NEW YORK, NY 4,694,0004.7m $4.5m $4.5m 0.08% Reduced -1.0m -1,003,000
20 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio HARRISBURG, PA 4,500,0004.5m $4.3m $4.3m 0.02% Unchanged
21 AVIVA PLC 0.01% of their portfolio LONDON, X0 4,160,0004.2m $3.9m $3.9m 0.01% Reduced -400.0k -400,000
22 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.9m $2.9m 0.01% Unchanged
23 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,874,0002.9m $2.7m $2.7m 0.00% Reduced -266.0k -266,000
24 PALISADE CAPITAL MANAGEMENT, LP 0.09% of their portfolio FORT LEE, NJ 2,780,0002.8m $2.7m $2.7m 0.09% Reduced -124.0k -124,000
25 Quarry LP 0.54% of their portfolio NEW YORK, NY 2,750,0002.8m $2.7m $2.7m 0.54% Unchanged
26 SSI INVESTMENT MANAGEMENT LLC 0.16% of their portfolio Los Angeles, CA 2,396,0002.4m $2.3m $2.3m 0.16% New
27 SGL Investment Advisors, Inc. 0.50% of their portfolio MISSOULA, MT 1,375,0001.4m $1.3m $1.3m 0.50% Reduced -15.0k -15,000
28 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,000,0001.0m $962.4k $962.4k 0.00% Unchanged
29 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 956,000956.0k $912.0k $912.0k 0.00% Unchanged
30 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 933,000933.0k $891.2k $891.2k 0.00% New
31 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 525,000525.0k $500.9k $500.9k 0.00% Unchanged
32 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 425,000425.0k $407.8k $407.8k 0.00% New
33 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 400,000400.0k $385.0k $385.0k 0.00% New
34 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 330,000330.0k $314.8k $314.8k 0.00% Added +188.0k +188,000
35 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 265,000265.0k $252.8k $252.8k 0.00% Reduced -543.0k -543,000
36 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 193,000193.0k $183.3k $183.3k 0.00% Added +186.0k +186,000
37 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 136,000136.0k $130.2k $130.2k 0.00% Unchanged
38 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 124,000124.0k $118.3k $118.3k 0.00% Unchanged
39 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 90,00090.0k $85.7k $85.7k 0.00% Unchanged
40 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 70,00070.0k $67.1k $67.1k 0.00% Unchanged
41 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 42,93042.9k $42.9k $42.9k 0.00% New
42 PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.00% of their portfolio EDINA, MN 30,00030.0k $28.6k $28.6k 0.00% New
43 Fox Hill Wealth Management 0.01% of their portfolio DEDHAM, MA 21,00021.0k $19.9k $19.9k 0.01% Unchanged
44 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 20,50020.5k $2.0m $2.0m 0.00% Added +12.0k +12,000
45 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 13,00013.0k $12.4k $12.4k 0.00% Reduced -3.0k -3,000
46 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 10,00010.0k $9.5k $9.5k 0.00% Unchanged
47 Mariner, LLC 0.00% of their portfolio Overland Park, KS 10,00010.0k $9.5k $9.5k 0.00% Unchanged
48 Financial Perspectives, Inc 0.00% of their portfolio MINNEAPOLIS, MN 10,00010.0k $9.5k $9.5k 0.00% Unchanged
49 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 5,0005.0k $4.8k $4.8k 0.00% Unchanged