TRIPADVISOR INC TRIP 0.25 04.01.26

NOTE 0.250% 4/0 · US DOMESTIC · CUSIP 896945AD4

31 institutional holders +0 vs Q4 2023

21,865,00021.9m shares reported held*

$327.7mreported value*

4 new 6 added 7 reduced 4 sold out net bought ≈ $1.2m (+12.8m 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. Holder counts are more reliable. Implied quarter-end price ≈ $14.99.

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

Numbers

Quarter	Holders
Q3 2022	38
Q4 2022	42
Q1 2023	37
Q2 2023	36
Q3 2023	32
Q4 2023	31
Q1 2024	31

Buyers vs sellers

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

Bought or addedCut or sold out

Numbers

Quarter	Bought or added	Cut or sold out
Q4 2022	12	15
Q1 2023	14	16
Q2 2023	14	13
Q3 2023	13	15
Q4 2023	11	10
Q1 2024	10	11

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P.	Added	+17,341,000+17.3m
Opti Capital Management, LP	New	+11,000,000+11.0m
Linden Advisors LP	Added	+5,500,000+5.5m
Jefferies Financial Group Inc.	Added	+4,489,000+4.5m
BANK OF MONTREAL /CAN/	New	+4,200,000+4.2m
Mint Tower Capital Management B.V.	New	+2,000,000+2.0m
Ewing Morris & Co. Investment Partners Ltd.	New	+1,000,000+1.0m
Thrivent Financial for Lutherans	Added	+800,000+800.0k
BlackRock Inc.	Added	+500,000+500.0k
AMERICAN CENTURY COMPANIES INC	Added	+41,000+41.0k

Biggest sellers

OAKTREE CAPITAL MANAGEMENT LP	Sold out	-19,051,000-19.1m
Man Group plc	Sold out	-12,223,000-12.2m
Russell Investments Group, Ltd.	Sold out	-3,799,000-3.8m
LAZARD ASSET MANAGEMENT LLC	Sold out	-2,568,000-2.6m
JPMORGAN CHASE & CO	Reduced	-2,400,000-2.4m
STEELHEAD PARTNERS LLC	Reduced	-1,578,000-1.6m
HBK INVESTMENTS L P	Reduced	-1,500,000-1.5m
SHENKMAN CAPITAL MANAGEMENT INC	Reduced	-888,000-888.0k
ONTARIO TEACHERS PENSION PLAN BOARD	Reduced	-763,000-763.0k
CREDIT SUISSE AG/	Reduced	-600,000-600.0k

Holders, Q1 2024

#	Manager	Location	Shares	Value	% of their portfolio	Change	Shares change
1	STEELHEAD PARTNERS LLC 3.02% of their portfolio	SEATTLE, WA	61,500,00061.5m $57.5m	$57.5m	3.02%	Reduced -1.6m	-1,578,000
2	JPMORGAN CHASE & CO 0.00% of their portfolio	NEW YORK, NY	60,552,00060.6m $56.7m	$56.7m	0.00%	Reduced -2.4m	-2,400,000
3	Linden Advisors LP 0.28% of their portfolio	New York, NY	37,357,00037.4m $35.0m	$35.0m	0.28%	Added +5.5m	+5,500,000
4	TENOR CAPITAL MANAGEMENT Co., L.P. 0.52% of their portfolio	NEW YORK, NY	35,000,00035.0m $32.9m	$32.9m	0.52%	Added +17.3m	+17,341,000
5	Parallax Volatility Advisers, L.P. 0.80% of their portfolio	San Francisco, CA	30,000,00030.0m $28.0m	$28.0m	0.80%	Unchanged
6	HBK INVESTMENTS L P 0.56% of their portfolio	DALLAS, TX	23,950,00023.9m $22.4m	$22.4m	0.56%	Reduced -1.5m	-1,500,000
7	Calamos Advisors LLC 0.07% of their portfolio	NAPERVILLE, IL	15,000,00015.0m $14.0m	$14.0m	0.07%	Unchanged
8	Opti Capital Management, LP 0.79% of their portfolio	New York, NY	11,000,00011.0m $10.3m	$10.3m	0.79%	New
9	CAMDEN ASSET MANAGEMENT L P /CA 0.30% of their portfolio	Los Angeles, CA	8,875,0008.9m $8.3m	$8.3m	0.30%	Unchanged
10	Thrivent Financial for Lutherans 0.01% of their portfolio	Minneapolis, MN	6,900,0006.9m $6.4m	$6.4m	0.01%	Added +800.0k	+800,000
11	BlackRock Inc. 0.00% of their portfolio	New York, NY	6,480,0006.5m $6.0m	$6.0m	0.00%	Added +500.0k	+500,000
12	EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.71% of their portfolio	Miamisburg, OH	6,000,0006.0m $5.6m	$5.6m	0.71%	Unchanged
13	FMR LLC 0.00% of their portfolio	BOSTON, MA	5,504,0005.5m $5.1m	$5.1m	0.00%	Unchanged
14	Jefferies Financial Group Inc. 0.09% of their portfolio	NEW YORK, NY	4,527,0004.5m $4.2m	$4.2m	0.09%	Added +4.5m	+4,489,000
15	BANK OF MONTREAL /CAN/ 0.00% of their portfolio	TORONTO, A6	4,200,0004.2m $3.9m	$3.9m	0.00%	New
16	SHENKMAN CAPITAL MANAGEMENT INC 0.27% of their portfolio	NEW YORK, NY	4,072,0004.1m $3.8m	$3.8m	0.27%	Reduced -888.0k	-888,000
17	SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio	London, X0	2,750,0002.8m $2.6m	$2.6m	0.00%	Unchanged
18	TORONTO DOMINION BANK 0.00% of their portfolio	TORONTO, ONTARIO, A6	2,650,0002.6m $2.5m	$2.5m	0.00%	Unchanged
19	PALISADE CAPITAL MANAGEMENT, LP 0.06% of their portfolio	FORT LEE, NJ	2,492,0002.5m $2.3m	$2.3m	0.06%	Reduced -210.0k	-210,000
20	Mint Tower Capital Management B.V. 0.68% of their portfolio	AMSTERDAM, P7	2,000,0002.0m $1.9m	$1.9m	0.68%	New
21	DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio	FRANKFURT AM MAIN, 2M	1,250,0001.2m $1.2m	$1.2m	0.00%	Unchanged
22	ONTARIO TEACHERS PENSION PLAN BOARD 0.01% of their portfolio	Toronto, A6	1,237,0001.2m $1.1m	$1.1m	0.01%	Reduced -763.0k	-763,000
23	Ewing Morris & Co. Investment Partners Ltd. 0.58% of their portfolio	TORONTO, Z4	1,000,0001.0m $1.3m	$1.3m	0.58%	New
24	CREDIT SUISSE AG/ 0.00% of their portfolio	ZURICH, V8	400,000400.0k $317.9k	$317.9k	0.00%	Reduced -600.0k	-600,000
25	AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio	KANSAS CITY, MO	358,000358.0k $335.4k	$335.4k	0.00%	Added +41.0k	+41,000
26	Bank of New York Mellon Corp 0.00% of their portfolio	NEW YORK, NY	300,000300.0k $280.9k	$280.9k	0.00%	Unchanged
27	BARCLAYS PLC 0.00% of their portfolio	LONDON, X0	16,00016.0k $14.9k	$14.9k	0.00%	Unchanged
28	Arkadios Wealth Advisors 0.00% of their portfolio	ATLANTA, GA	15,00015.0k $14.0k	$14.0k	0.00%	Unchanged
29	K2 PRINCIPAL FUND, L.P. 2.57% of their portfolio	TORONTO, A6	11,50011.5k $10.8m	$10.8m	2.57%	Unchanged
30	Chicago Capital Management, LLC 2.96% of their portfolio	CHICAGO, IL	3,0003.0k $2.8m	$2.8m	2.96%	Unchanged
31	CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio	BIRMINGHAM, AL	00 $0	$0	0.00%	Unchanged