Vault-13

UGI CORP NEW UGI 5 06.01.28

NOTE 5.000% 6/0 · US DOMESTIC · CUSIP 902681AB1

41 institutional holders -6 vs Q2 2025
45,435,55845.4m shares reported held*
$874.7mreported value*
4 new 14 added 14 reduced 9 sold out net bought ≈ $9.9m (-759.6k 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 ≈ $19.25.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q2 25: 47Q3 25: 4141Q2 25Q3 25
Numbers
QuarterHolders
Q2 202547
Q3 202541

Biggest buyers

BNP PARIBAS FINANCIAL MARKETS Added +36,170,000+36.2m
WOLVERINE ASSET MANAGEMENT LLC New +34,488,000+34.5m
CITIGROUP INC Added +12,286,000+12.3m
Point72 Asset Management, L.P. Added +8,233,000+8.2m
MILLENNIUM MANAGEMENT LLC Added +8,010,000+8.0m
Jain Global LLC Added +7,500,000+7.5m
AMERIPRISE FINANCIAL INC New +6,000,000+6.0m
Portman Square Capital LLP Added +5,000,000+5.0m
STATE STREET CORP Added +4,417,000+4.4m
Kohlberg Kravis Roberts & Co. L.P. Added +2,815,000+2.8m

Biggest sellers

BlackRock, Inc. Reduced -39,835,000-39.8m
LAZARD ASSET MANAGEMENT LLC Sold out -25,000,000-25.0m
HIGHBRIDGE CAPITAL MANAGEMENT LLC Reduced -22,500,000-22.5m
VOYA INVESTMENT MANAGEMENT LLC Reduced -15,615,000-15.6m
SUSQUEHANNA ADVISORS GROUP, INC. Reduced -10,000,000-10.0m
TWO SIGMA INVESTMENTS, LP Reduced -5,500,000-5.5m
MORGAN STANLEY Sold out -3,375,000-3.4m
ROYAL BANK OF CANADA Reduced -2,457,000-2.5m
SSI INVESTMENT MANAGEMENT LLC Reduced -2,337,000-2.3m
JPMORGAN CHASE & CO Sold out -2,189,000-2.2m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Aequim Alternative Investments LP 1.99% of their portfolio MILL VALLEY, CA 70,000,00070.0m $89.6m $89.6m 1.99% Unchanged
2 Portman Square Capital LLP 10.98% of their portfolio London, X0 64,714,00064.7m $82.9m $82.9m 10.98% Added +5.0m +5,000,000
3 Point72 Asset Management, L.P. 0.16% of their portfolio STAMFORD, CT 58,583,00058.6m $75.0m $75.0m 0.16% Added +8.2m +8,233,000
4 MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 48,010,00048.0m $61.5m $61.5m 0.05% Added +8.0m +8,010,000
5 TWO SIGMA INVESTMENTS, LP 0.08% of their portfolio NEW YORK, NY 41,585,00041.6m $53.2m $53.2m 0.08% Reduced -5.5m -5,500,000
6 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 38,292,00038.3m $48.9m $48.9m 0.04% Added +36.2m +36,170,000
7 TENOR CAPITAL MANAGEMENT Co., L.P. 0.60% of their portfolio NEW YORK, NY 35,000,00035.0m $45.4m $45.4m 0.60% Added +2.5m +2,500,000
8 WOLVERINE ASSET MANAGEMENT LLC 0.65% of their portfolio CHICAGO, IL 34,488,00034.5m $44.2m $44.2m 0.65% New
9 ANGELO GORDON & CO., L.P. 5.16% of their portfolio NEW YORK, NY 33,000,00033.0m $42.2m $42.2m 5.16% Unchanged
10 Alberta Investment Management Corp 0.28% of their portfolio EDMONTON, A0 30,000,00030.0m $38.5m $38.5m 0.28% Unchanged
11 HIGHBRIDGE CAPITAL MANAGEMENT LLC 1.78% of their portfolio NEW YORK, NY 27,500,00027.5m $35.1m $35.1m 1.78% Reduced -22.5m -22,500,000
12 Jain Global LLC 0.42% of their portfolio NEW YORK, NY 25,000,00025.0m $32.1m $32.1m 0.42% Added +7.5m +7,500,000
13 Calamos Advisors LLC 0.10% of their portfolio NAPERVILLE, IL 20,069,00020.1m $25.8m $25.8m 0.10% Reduced -24.0k -24,000
14 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 15,405,00015.4m $19.7m $19.7m 0.02% Reduced -15.6m -15,615,000
15 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 13,687,00013.7m $17.7m $17.7m 0.00% Added +4.4m +4,417,000
16 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 13,531,00013.5m $17.3m $17.3m 0.01% Added +12.3m +12,286,000
17 Kohlberg Kravis Roberts & Co. L.P. 0.28% of their portfolio NEW YORK, NY 13,085,00013.1m $16.8m $16.8m 0.28% Added +2.8m +2,815,000
18 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio TORONTO, A6 11,500,00011.5m $14.7m $14.7m 0.03% Unchanged
19 SUSQUEHANNA ADVISORS GROUP, INC. 0.00% of their portfolio BALA CYNWYD, PA 10,000,00010.0m $128.0k $128.0k 0.00% Reduced -10.0m -10,000,000
20 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio Paris, I0 9,000,0009.0m $11.6m $11.6m 0.03% Unchanged
21 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,800,0006.8m $8.7m $8.7m 0.00% Reduced -39.8m -39,835,000
22 FMR LLC 0.00% of their portfolio BOSTON, MA 6,605,0006.6m $8.4m $8.4m 0.00% Reduced -320.0k -320,000
23 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,000,0006.0m $7.7m $7.7m 0.00% New
24 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 5,685,0005.7m $7.4m $7.4m 0.01% Reduced -85.0k -85,000
25 ADVENT CAPITAL MANAGEMENT /DE/ 0.16% of their portfolio NEW YORK, NY 5,509,0005.5m $7.1m $7.1m 0.16% Added +1.2m +1,230,000
26 SHENKMAN CAPITAL MANAGEMENT INC 0.67% of their portfolio NEW YORK, NY 5,135,0005.1m $6.8m $6.8m 0.67% Added +207.0k +207,000
27 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 5,000,0005.0m $6.4m $6.4m 0.00% Unchanged
28 Man Group plc 0.01% of their portfolio LONDON, X0 3,500,0003.5m $4.4m $4.4m 0.01% Reduced -100.0k -100,000
29 Nicholas Investment Partners, LP 0.32% of their portfolio RANCHO SANTA FE, CA 3,250,0003.2m $4.2m $4.2m 0.32% Added +750.0k +750,000
30 Fort Baker Capital Management LP 0.68% of their portfolio Larkspur, CA 3,189,0003.2m $4.1m $4.1m 0.68% Unchanged
31 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,600,0002.6m $3.3m $3.3m 0.00% Unchanged
32 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 2,000,0002.0m $2.6m $2.6m 0.01% Unchanged
33 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,985,0002.0m $2.5m $2.5m 0.00% Added +1.6m +1,603,000
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,953,0002.0m $2.5m $2.5m 0.00% New
35 RWC Asset Management LLP 0.12% of their portfolio LONDON, X0 1,901,0001.9m $2.4m $2.4m 0.12% Reduced -599.0k -599,000
36 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,163,0001.2m $1.5m $1.5m 0.00% Reduced -27.0k -27,000
37 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 700,000700.0k $902.0k $902.0k 0.01% New
38 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 266,000266.0k $340.0k $340.0k 0.02% Reduced -2.3m -2,337,000
39 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 246,558246.6k $8.2m $8.2m 0.01% Added +240.4k +240,399
40 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 193,000193.0k $247.0k $247.0k 0.00% Reduced -2.5m -2,457,000
41 Context Capital Management, LLC 0.39% of their portfolio LAJOLLA, CA 10,00010.0k $12.8m $12.8m 0.39% Reduced -5.0k -5,000