Vault-13

UGI CORP NEW UGI 5 06.01.28

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

31 institutional holders -2 vs Q4 2025
8,577,2288.6m shares reported held*
$970.2mreported value*
7 new 11 added 5 reduced 8 sold out net bought ≈ $118.1m (-826.1k 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 ≈ $113.11.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 25: 47Q3 25: 41Q4 25: 33Q1 26: 3131Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q2 202547
Q3 202541
Q4 202533
Q1 202631

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 25: 18 bought or addedQ3 25: 23 cut or sold outQ3 25Q4 25: 16 bought or addedQ4 25: 22 cut or sold outQ4 25Q1 26: 18 bought or addedQ1 26: 13 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q3 20251823
Q4 20251622
Q1 20261813

Biggest buyers

CITADEL ADVISORS LLC New +72,000,000+72.0m
Point72 Asset Management, L.P. Added +36,600,000+36.6m
BlackRock, Inc. Added +29,500,000+29.5m
MILLENNIUM MANAGEMENT LLC Added +20,500,000+20.5m
HG Vora Capital Management, LLC New +14,878,000+14.9m
Weiss Asset Management LP Added +10,500,000+10.5m
Alberta Investment Management Corp Added +10,000,000+10.0m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +5,800,000+5.8m
BANK OF AMERICA CORP /DE/ New +2,335,000+2.3m
JANE STREET GROUP, LLC New +1,010,000+1.0m

Biggest sellers

Portman Square Capital LLP Sold out -54,714,000-54.7m
Jain Global LLC Sold out -27,500,000-27.5m
TWO SIGMA INVESTMENTS, LP Sold out -14,085,000-14.1m
Kohlberg Kravis Roberts & Co. L.P. Reduced -12,000,000-12.0m
Aequim Alternative Investments LP Reduced -7,500,000-7.5m
CITIGROUP INC Sold out -1,379,000-1.4m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduced -1,200,000-1.2m
VOYA INVESTMENT MANAGEMENT LLC Sold out -1,150,000-1.1m
JPMORGAN CHASE & CO Reduced -875,000-875.0k
DEUTSCHE BANK AG\ Sold out -867,000-867.0k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Point72 Asset Management, L.P. 0.27% of their portfolio STAMFORD, CT 108,743,000108.7m $152.9m $152.9m 0.27% Added +36.6m +36,600,000
2 MILLENNIUM MANAGEMENT LLC 0.08% of their portfolio NEW YORK, NY 73,510,00073.5m $103.4m $103.4m 0.08% Added +20.5m +20,500,000
3 CITADEL ADVISORS LLC 0.07% of their portfolio MIAMI, FL 72,000,00072.0m $101.2m $101.2m 0.07% New
4 Weiss Asset Management LP 1.83% of their portfolio BOSTON, MA 70,890,00070.9m $99.6m $99.6m 1.83% Added +10.5m +10,500,000
5 TENOR CAPITAL MANAGEMENT Co., L.P. 1.46% of their portfolio NEW YORK, NY 66,416,00066.4m $94.5m $94.5m 1.46% Added +5.8m +5,800,000
6 Aequim Alternative Investments LP 1.77% of their portfolio MILL VALLEY, CA 65,000,00065.0m $91.3m $91.3m 1.77% Reduced -7.5m -7,500,000
7 Alberta Investment Management Corp 0.35% of their portfolio EDMONTON, A0 40,000,00040.0m $56.2m $56.2m 0.35% Added +10.0m +10,000,000
8 BlackRock, Inc. 0.00% of their portfolio New York, NY 38,300,00038.3m $53.7m $53.7m 0.00% Added +29.5m +29,500,000
9 BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio PARIS, I0 33,500,00033.5m $47.0m $47.0m 0.03% Unchanged
10 Calamos Advisors LLC 0.11% of their portfolio NAPERVILLE, IL 20,101,00020.1m $28.2m $28.2m 0.11% Added +11.0k +11,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 14,987,00015.0m $21.3m $21.3m 0.00% Added +450.0k +450,000
12 HG Vora Capital Management, LLC 10.96% of their portfolio NEW YORK, NY 14,878,00014.9m $20.9m $20.9m 10.96% New
13 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 10,000,00010.0m $14.1m $14.1m 0.01% Unchanged
14 ADVENT CAPITAL MANAGEMENT /DE/ 0.35% of their portfolio NEW YORK, NY 8,403,0008.4m $11.9m $11.9m 0.35% Added +394.0k +394,000
15 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio Paris, I0 7,800,0007.8m $11.1m $11.1m 0.01% Reduced -1.2m -1,200,000
16 FMR LLC 0.00% of their portfolio BOSTON, MA 6,605,0006.6m $9.3m $9.3m 0.00% Unchanged
17 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 6,000,0006.0m $8.4m $8.4m 0.00% Unchanged
18 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 5,741,0005.7m $8.1m $8.1m 0.02% Added +391.0k +391,000
19 Nicholas Investment Partners, LP 0.33% of their portfolio RANCHO SANTA FE, CA 3,250,0003.2m $4.6m $4.6m 0.33% Unchanged
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,042,0003.0m $4.3m $4.3m 0.00% Reduced -875.0k -875,000
21 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,600,0002.6m $3.6m $3.6m 0.00% Unchanged
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,335,0002.3m $3.3m $3.3m 0.00% New
23 Lombard Odier Asset Management (Europe) Ltd 0.14% of their portfolio LONDON, X0 1,750,0001.8m $2.5m $2.5m 0.14% Reduced -31.0k -31,000
24 Kohlberg Kravis Roberts & Co. L.P. 0.03% of their portfolio NEW YORK, NY 1,085,0001.1m $1.5m $1.5m 0.03% Reduced -12.0m -12,000,000
25 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 1,010,0001.0m $1.4m $1.4m 0.00% New
26 Jefferies Financial Group Inc. 0.01% of their portfolio NEW YORK, NY 867,000867.0k $1.2m $1.2m 0.01% New
27 Ares Systematic Credit Ltd 0.56% of their portfolio LONDON, X0 500,000500.0k $707.2k $707.2k 0.56% Unchanged
28 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 287,681287.7k $10.5m $10.5m 0.01% Added +34.3k +34,312
29 SSI INVESTMENT MANAGEMENT LLC 0.03% of their portfolio Los Angeles, CA 261,000261.0k $365.8k $365.8k 0.03% New
30 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 150,000150.0k $211.1k $211.1k 0.00% Unchanged
31 Ethic Inc. 0.04% of their portfolio NEW YORK, NY 78,54778.5k $2.9m $2.9m 0.04% New