Vault-13

THE REALREAL INC REAL 3 06.15.25

NOTE 3.000% 6/1 · US DOMESTIC · CUSIP 88339PAB7

18 institutional holders -1 vs Q1 2023
$130.8mprincipal reported held*
$89.5mreported value*
2 new 3 added 1 reduced 3 sold out net sold ≈ $25.8m

* 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 ($4.3m this quarter). Holder counts are more reliable. Options: 0 managers hold calls (— notional), 1 hold puts ($26.6m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

01020Q3 22: 17Q4 22: 19Q1 23: 19Q2 23: 1818Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202217
Q4 202219
Q1 202319
Q2 202318

Buyers vs sellers

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

Bought or addedCut or sold out
505Q4 22: 5 bought or addedQ4 22: 4 cut or sold outQ4 22Q1 23: 3 bought or addedQ1 23: 5 cut or sold outQ1 23Q2 23: 5 bought or addedQ2 23: 4 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202254
Q1 202335
Q2 202354

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30mQ3 22 calls: $0Q3 22 puts: $0Q3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $26.6mQ2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$26.6m—

Biggest buyers

Point72 Asset Management, L.P. New +15,250,000+15.2m
SILVERBACK ASSET MANAGEMENT LLC Added +5,169,000+5.2m
DEUTSCHE BANK AG\ New +2,000,000+2.0m
Springhouse Capital Management, LP Added +2,000,000+2.0m
Opti Capital Management, LP Added +1,500,000+1.5m

Biggest sellers

Shaolin Capital Management LLC Sold out -50,000,000-50.0m
ROYAL BANK OF CANADA Sold out -11,500,000-11.5m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Reduced -1,500,000-1.5m
PEAK6 Investments LLC Sold out -500,000-500.0k

Biggest calls

None

Biggest puts

Shaolin Capital Management LLC New $26.6m39.0m shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.07% of their portfolio NEW YORK, NY 26,833,00026.8m $18.4m $18.4m 1.07% Reduced -1.5m -1,500,000
2 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 22,153,00022.2m $15.1m $15.1m 0.02% Unchanged
3 DeepCurrents Investment Group LLC 0.64% of their portfolio NEW YORK, NY 21,589,00021.6m $14.8m $14.8m 0.64% Unchanged
4 Opti Capital Management, LP 0.96% of their portfolio New York, NY 16,500,00016.5m $11.4m $11.4m 0.96% Added +1.5m +1,500,000
5 Point72 Asset Management, L.P. 0.04% of their portfolio STAMFORD, CT 15,250,00015.2m $10.4m $10.4m 0.04% New
6 SILVERBACK ASSET MANAGEMENT LLC 1.38% of their portfolio DURHAM, NC 14,774,00014.8m $10.1m $10.1m 1.38% Added +5.2m +5,169,000
7 Springhouse Capital Management, LP 2.97% of their portfolio WESTPORT, CT 2,599,0002.6m $1.8m $1.8m 2.97% Added +2.0m +2,000,000
8 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,103,0002.1m $1.4m $1.4m 0.00% Unchanged
9 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 2,000,0002.0m $1.4m $1.4m 0.00% New
10 First Pacific Advisors, LP 0.02% of their portfolio EL SEGUNDO, CA 2,000,0002.0m $1.4m $1.4m 0.02% Unchanged
11 III Capital Management 0.11% of their portfolio BOCA RATON, FL 2,000,0002.0m $1.4m $1.4m 0.11% Unchanged
12 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 1,257,0001.3m $776.2k $776.2k 0.00% Unchanged
13 CastleKnight Management LP 0.14% of their portfolio New York, NY 1,000,0001.0m $685.9k $685.9k 0.14% Unchanged
14 WEXFORD CAPITAL LP 0.07% of their portfolio WEST PALM BEACH, FL 500,000500.0k $343.0k $343.0k 0.07% Unchanged
15 Arnhold LLC 0.02% of their portfolio New York, NY 250,000250.0k $172.5k $172.5k 0.02% Unchanged
16 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 9,0009.0k $6.1k $6.1k 0.00% Unchanged
17 Verition Fund Management LLC 0.07% of their portfolio GREENWICH, CT 6,1666.2k $4.3m $4.3m 0.07% Unchanged
18 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged