Vault-13

TRIPADVISOR INC TRIP 0.25 04.01.26

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

26 institutional holders -1 vs Q1 2025
$326.3mprincipal reported held*
$330.0mreported value*
3 new 3 added 3 reduced 4 sold out net sold ≈ $315.7k (-8.6m 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.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 38Q4 22: 42Q1 23: 37Q2 23: 36Q3 23: 32Q4 23: 31Q1 24: 31Q2 24: 30Q3 24: 29Q4 24: 27Q1 25: 27Q2 25: 2626Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202238
Q4 202242
Q1 202337
Q2 202336
Q3 202332
Q4 202331
Q1 202431
Q2 202430
Q3 202429
Q4 202427
Q1 202527
Q2 202526

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 23: 13 bought or addedQ3 23: 15 cut or sold outQ4 23: 11 bought or addedQ4 23: 10 cut or sold outQ4 23Q1 24: 10 bought or addedQ1 24: 11 cut or sold outQ2 24: 8 bought or addedQ2 24: 8 cut or sold outQ2 24Q3 24: 4 bought or addedQ3 24: 10 cut or sold outQ4 24: 6 bought or addedQ4 24: 11 cut or sold outQ4 24Q1 25: 11 bought or addedQ1 25: 9 cut or sold outQ2 25: 6 bought or addedQ2 25: 7 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231315
Q4 20231110
Q1 20241011
Q2 202488
Q3 2024410
Q4 2024611
Q1 2025119
Q2 202567

Biggest buyers

DeepCurrents Investment Group LLC New +23,000,000+23.0m
CAPSTONE INVESTMENT ADVISORS, LLC Added +10,500,000+10.5m
KIM, LLC New +9,000,000+9.0m
ONTARIO TEACHERS PENSION PLAN BOARD Added +5,000,000+5.0m
STEELHEAD PARTNERS LLC Added +2,105,000+2.1m
WELLS FARGO & COMPANY/MN New +1,645,000+1.6m

Biggest sellers

Linden Advisors LP Sold out -37,357,000-37.4m
Ewing Morris & Co. Investment Partners Ltd. Sold out -8,543,000-8.5m
JPMORGAN CHASE & CO Sold out -5,061,000-5.1m
BlackRock, Inc. Reduced -350,000-350.0k
GLAZER CAPITAL, LLC Reduced -250,000-250.0k
Arkadios Wealth Advisors Sold out -15,000-15.0k
Chicago Capital Management, LLC Reduced -2,000-2.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.51% of their portfolio NEW YORK, NY 115,893,000115.9m $111.9m $111.9m 1.51% Unchanged
2 STEELHEAD PARTNERS LLC 2.28% of their portfolio SEATTLE, WA 47,118,00047.1m $45.3m $45.3m 2.28% Added +2.1m +2,105,000
3 CAPSTONE INVESTMENT ADVISORS, LLC 0.25% of their portfolio NEW YORK, NY 30,604,00030.6m $29.5m $29.5m 0.25% Added +10.5m +10,500,000
4 Opti Capital Management, LP 1.64% of their portfolio New York, NY 30,000,00030.0m $28.9m $28.9m 1.64% Unchanged
5 DeepCurrents Investment Group LLC 0.81% of their portfolio NEW YORK, NY 23,000,00023.0m $22.1m $22.1m 0.81% New
6 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 15,000,00015.0m $14.4m $14.4m 0.06% Unchanged
7 Parallax Volatility Advisers, L.P. 0.38% of their portfolio San Francisco, CA 10,000,00010.0m $9.6m $9.6m 0.38% Unchanged
8 KIM, LLC 0.90% of their portfolio WICHITA, KS 9,000,0009.0m $8.7m $8.7m 0.90% New
9 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 7,865,0007.9m $7.6m $7.6m 0.01% Unchanged
10 PALISADE CAPITAL MANAGEMENT, LP 0.21% of their portfolio FORT LEE, NJ 7,859,0007.9m $7.5m $7.5m 0.21% Unchanged
11 ONTARIO TEACHERS PENSION PLAN BOARD 0.12% of their portfolio Toronto, A6 6,237,0006.2m $6.0m $6.0m 0.12% Added +5.0m +5,000,000
12 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.73% of their portfolio Miamisburg, OH 6,000,0006.0m $5.8m $5.8m 0.73% Unchanged
13 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 4,900,0004.9m $4.7m $4.7m 0.01% Unchanged
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,350,0003.4m $3.2m $3.2m 0.00% Reduced -350.0k -350,000
15 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 2,750,0002.8m $2.6m $2.6m 0.00% Unchanged
16 Groupe la Francaise 0.03% of their portfolio PARIS, I0 2,000,0002.0m $1.9m $1.9m 0.03% Unchanged
17 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,645,0001.6m $1.6m $1.6m 0.00% New
18 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
19 GLAZER CAPITAL, LLC 0.03% of their portfolio New York, NY 750,000750.0k $720.0k $720.0k 0.03% Reduced -250.0k -250,000
20 CREDIT INDUSTRIEL ET COMMERCIAL 0.09% of their portfolio PARIS FRANCE, I0 600,000600.0k $578.3k $578.3k 0.09% Unchanged
21 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 374,000374.0k $360.3k $360.3k 0.00% Unchanged
22 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 100,000100.0k $96.3k $96.3k 0.00% Unchanged
23 K2 PRINCIPAL FUND, L.P. 2.47% of their portfolio TORONTO, A6 14,00014.0k $13.5m $13.5m 2.47% Unchanged
24 Chicago Capital Management, LLC 1.42% of their portfolio CHICAGO, IL 2,0002.0k $1.9m $1.9m 1.42% Reduced -2.0k -2,000
25 Alken Asset Management Ltd 0.42% of their portfolio LONDON, X0 250250 $239.0k $239.0k 0.42% Unchanged
26 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged