Vault-13

TRIPADVISOR INC TRIP 0.25 04.01.26

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

23 institutional holders -3 vs Q2 2025
$326.0mprincipal reported held*
$326.3mreported value*
1 new 3 added 1 reduced 3 sold out net sold ≈ $257.0k

* 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 Q3 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: 26Q3 25: 2323Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 202523

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 23: 11 bought or addedQ4 23: 10 cut or sold outQ1 24: 10 bought or addedQ1 24: 11 cut or sold outQ1 24Q2 24: 8 bought or addedQ2 24: 8 cut or sold outQ3 24: 4 bought or addedQ3 24: 10 cut or sold outQ3 24Q4 24: 6 bought or addedQ4 24: 11 cut or sold outQ1 25: 11 bought or addedQ1 25: 9 cut or sold outQ1 25Q2 25: 6 bought or addedQ2 25: 7 cut or sold outQ3 25: 4 bought or addedQ3 25: 4 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20231110
Q1 20241011
Q2 202488
Q3 2024410
Q4 2024611
Q1 2025119
Q2 202567
Q3 202544

Biggest buyers

CAPSTONE INVESTMENT ADVISORS, LLC Added +5,000,000+5.0m
Thrivent Financial for Lutherans Added +1,700,000+1.7m
STEELHEAD PARTNERS LLC Added +783,000+783.0k
JPMORGAN CHASE & CO New +22,000+22.0k

Biggest sellers

KIM, LLC Reduced -5,000,000-5.0m
WELLS FARGO & COMPANY/MN Sold out -1,645,000-1.6m
GLAZER CAPITAL, LLC Sold out -750,000-750.0k
AMERICAN CENTURY COMPANIES INC Sold out -374,000-374.0k

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.49% of their portfolio NEW YORK, NY 115,893,000115.9m $113.6m $113.6m 1.49% Unchanged
2 STEELHEAD PARTNERS LLC 2.81% of their portfolio SEATTLE, WA 47,901,00047.9m $46.8m $46.8m 2.81% Added +783.0k +783,000
3 CAPSTONE INVESTMENT ADVISORS, LLC 0.30% of their portfolio NEW YORK, NY 35,604,00035.6m $34.6m $34.6m 0.30% Added +5.0m +5,000,000
4 Opti Capital Management, LP 1.83% of their portfolio New York, NY 30,000,00030.0m $29.3m $29.3m 1.83% Unchanged
5 DeepCurrents Investment Group LLC 0.73% of their portfolio NEW YORK, NY 23,000,00023.0m $22.4m $22.4m 0.73% Unchanged
6 Calamos Advisors LLC 0.06% of their portfolio NAPERVILLE, IL 15,000,00015.0m $14.6m $14.6m 0.06% Unchanged
7 Parallax Volatility Advisers, L.P. 0.29% of their portfolio San Francisco, CA 10,000,00010.0m $9.7m $9.7m 0.29% Unchanged
8 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 7,865,0007.9m $76.4k $76.4k 0.00% Unchanged
9 PALISADE CAPITAL MANAGEMENT, LP 0.21% of their portfolio FORT LEE, NJ 7,859,0007.9m $7.7m $7.7m 0.21% Unchanged
10 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 6,600,0006.6m $6.4m $6.4m 0.01% Added +1.7m +1,700,000
11 ONTARIO TEACHERS PENSION PLAN BOARD 0.14% of their portfolio Toronto, A6 6,237,0006.2m $6.1m $6.1m 0.14% Unchanged
12 EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 0.67% of their portfolio Miamisburg, OH 6,000,0006.0m $5.8m $5.8m 0.67% Unchanged
13 KIM, LLC 0.44% of their portfolio WICHITA, KS 4,000,0004.0m $3.9m $3.9m 0.44% Reduced -5.0m -5,000,000
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,350,0003.4m $3.2m $3.2m 0.00% Unchanged
15 SCHRODER INVESTMENT MANAGEMENT GROUP 0.00% of their portfolio London, X0 2,750,0002.8m $2.7m $2.7m 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 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
18 CREDIT INDUSTRIEL ET COMMERCIAL 0.09% of their portfolio PARIS FRANCE, I0 600,000600.0k $584.1k $584.1k 0.09% Unchanged
19 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 100,000100.0k $97.7k $97.7k 0.00% Unchanged
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 22,00022.0k $21.5k $21.5k 0.00% New
21 K2 PRINCIPAL FUND, L.P. 1.44% of their portfolio TORONTO, A6 14,00014.0k $13.7m $13.7m 1.44% Unchanged
22 Chicago Capital Management, LLC 1.75% of their portfolio CHICAGO, IL 2,0002.0k $2.0m $2.0m 1.75% Unchanged
23 Alken Asset Management Ltd 0.01% of their portfolio LONDON, X0 250250 $241 $241 0.01% Unchanged