Vault-13

2U INC TWOU 2.25 05.01.25

NOTE 2.250% 5/0 · US DOMESTIC · CUSIP 90214JAB7

21 institutional holders -8 vs Q3 2023
4,156,1314.2m shares reported held*
$144.7mreported value*
1 new 2 added 10 reduced 9 sold out net sold ≈ $3.3m (-3.1m 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 ($3.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $35.65.

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 32Q4 22: 31Q1 23: 34Q2 23: 32Q3 23: 29Q4 23: 2121Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 202232
Q4 202231
Q1 202334
Q2 202332
Q3 202329
Q4 202321

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 11 bought or addedQ4 22: 14 cut or sold outQ4 22Q1 23: 15 bought or addedQ1 23: 17 cut or sold outQ1 23Q2 23: 9 bought or addedQ2 23: 13 cut or sold outQ2 23Q3 23: 10 bought or addedQ3 23: 10 cut or sold outQ3 23Q4 23: 3 bought or addedQ4 23: 19 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221114
Q1 20231517
Q2 2023913
Q3 20231010
Q4 2023319

Biggest buyers

Mudrick Capital Management, L.P. Added +58,918,000+58.9m
BlackRock Inc. Added +1,950,000+1.9m
NOMURA HOLDINGS INC New +106,131+106.1k

Biggest sellers

AMERIPRISE FINANCIAL INC Reduced -10,750,000-10.8m
AQR Arbitrage LLC Sold out -8,900,000-8.9m
GABELLI FUNDS LLC Sold out -8,400,000-8.4m
Hudson Bay Capital Management LP Reduced -7,322,000-7.3m
Tetragon Partners GP Ltd Sold out -6,000,000-6.0m
Patient Capital Management, LLC Reduced -4,000,000-4.0m
AGF MANAGEMENT LTD Sold out -3,925,000-3.9m
JANE STREET GROUP, LLC Reduced -3,246,000-3.2m
BARINGS LLC Sold out -3,000,000-3.0m
Delphi Financial Group, Inc. Sold out -2,821,000-2.8m

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Mudrick Capital Management, L.P. 10.77% of their portfolio NEW YORK, NY 94,323,00094.3m $48.1m $48.1m 10.77% Added +58.9m +58,918,000
2 Greenvale Capital LLP 2.49% of their portfolio LONDON, X0 57,500,00057.5m $29.3m $29.3m 2.49% Unchanged
3 DeepCurrents Investment Group LLC 0.43% of their portfolio NEW YORK, NY 21,688,00021.7m $11.2m $11.2m 0.43% Reduced -2.5m -2,500,000
4 CAPSTONE INVESTMENT ADVISORS, LLC 0.14% of their portfolio NEW YORK, NY 16,100,00016.1m $8.3m $8.3m 0.14% Unchanged
5 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 16,000,00016.0m $8.1m $8.1m 0.00% Reduced -10.8m -10,750,000
6 Walleye Capital LLC 0.10% of their portfolio NEW YORK, NY 14,285,00014.3m $7.3m $7.3m 0.10% Reduced -1.5m -1,500,000
7 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 11,770,00011.8m $5.9m $5.9m 0.01% Unchanged
8 LMR Partners LLP 0.13% of their portfolio LONDON, X0 9,900,0009.9m $5.1m $5.1m 0.13% Unchanged
9 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 9,000,0009.0m $4.5m $4.5m 0.00% Unchanged
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,416,0007.4m $3.8m $3.8m 0.00% Reduced -2.0m -2,000,000
11 Hudson Bay Capital Management LP 0.03% of their portfolio STAMFORD, CT 7,322,0007.3m $3.7m $3.7m 0.03% Reduced -7.3m -7,322,000
12 Patient Capital Management, LLC 0.19% of their portfolio BALTIMORE, MD 7,000,0007.0m $3.6m $3.6m 0.19% Reduced -4.0m -4,000,000
13 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 4,050,0004.0m $2.1m $2.1m 0.00% Reduced -3.2m -3,246,000
14 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,000,0003.0m $1.5m $1.5m 0.00% Reduced -2.0m -2,000,000
15 BlackRock Inc. 0.00% of their portfolio New York, NY 2,739,0002.7m $1.4m $1.4m 0.00% Added +1.9m +1,950,000
16 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 578,000578.0k $294.5k $294.5k 0.00% Reduced -450.0k -450,000
17 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 541,000541.0k $272.9k $272.9k 0.00% Unchanged
18 NOMURA HOLDINGS INC 0.00% of their portfolio TOKYO, M0 106,131106.1k $130.5k $130.5k 0.00% New
19 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 14,00014.0k $7.1k $7.1k 0.00% Unchanged
20 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 6,8396.8k $3.5m $3.5m 0.04% Reduced -788 -788
21 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged