UGI CORP NEW UGI 5 06.01.28

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

33 institutional holders +2 vs Q1 2026

494,565494.6k shares reported held*

$990.9mreported value*

7 new 8 added 10 reduced 6 sold out net bought ≈ $68.0m (-8.1m 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. Holder counts are more reliable. Implied quarter-end price ≈ $2003.67.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

Numbers

Quarter	Holders
Q2 2025	47
Q3 2025	41
Q4 2025	33
Q1 2026	31
Q2 2026	33

Buyers vs sellers

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

Bought or addedCut or sold out

Numbers

Quarter	Bought or added	Cut or sold out
Q3 2025	18	23
Q4 2025	16	22
Q1 2026	18	13
Q2 2026	15	16

Biggest buyers

Opti Capital Management, LP	New	+55,000,000+55.0m
DeepCurrents Investment Group LLC	New	+25,000,000+25.0m
CITADEL ADVISORS LLC	Added	+17,500,000+17.5m
Point72 Asset Management, L.P.	Added	+13,867,000+13.9m
Sculptor Capital LP	New	+10,000,000+10.0m
WELLS FARGO & COMPANY/MN	New	+8,731,000+8.7m
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	New	+8,400,000+8.4m
MILLENNIUM MANAGEMENT LLC	Added	+3,629,000+3.6m
CITIGROUP INC	New	+3,521,000+3.5m
HG Vora Capital Management, LLC	Added	+3,502,000+3.5m

Biggest sellers

Aequim Alternative Investments LP	Reduced	-25,000,000-25.0m
BlackRock, Inc.	Reduced	-23,700,000-23.7m
BNP PARIBAS FINANCIAL MARKETS	Reduced	-17,500,000-17.5m
Weiss Asset Management LP	Reduced	-10,650,000-10.7m
TENOR CAPITAL MANAGEMENT Co., L.P.	Reduced	-10,000,000-10.0m
BNP PARIBAS ASSET MANAGEMENT Holding S.A.	Sold out	-7,800,000-7.8m
JPMORGAN CHASE & CO	Reduced	-2,629,000-2.6m
BANK OF AMERICA CORP /DE/	Sold out	-2,335,000-2.3m
JANE STREET GROUP, LLC	Sold out	-1,010,000-1.0m
Jefferies Financial Group Inc.	Sold out	-867,000-867.0k

Holders, Q2 2026

#	Manager	Location	Shares	Value	% of their portfolio	Change	Shares change
1	Point72 Asset Management, L.P. 0.25% of their portfolio	STAMFORD, CT	122,610,000122.6m $163.9m	$163.9m	0.25%	Added +13.9m	+13,867,000
2	CITADEL ADVISORS LLC 0.07% of their portfolio	MIAMI, FL	89,500,00089.5m $119.8m	$119.8m	0.07%	Added +17.5m	+17,500,000
3	MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio	NEW YORK, NY	77,139,00077.1m $103.2m	$103.2m	0.07%	Added +3.6m	+3,629,000
4	Weiss Asset Management LP 0.90% of their portfolio	BOSTON, MA	60,240,00060.2m $80.7m	$80.7m	0.90%	Reduced -10.7m	-10,650,000
5	TENOR CAPITAL MANAGEMENT Co., L.P. 1.07% of their portfolio	NEW YORK, NY	56,416,00056.4m $75.9m	$75.9m	1.07%	Reduced -10.0m	-10,000,000
6	Opti Capital Management, LP 4.52% of their portfolio	New York, NY	55,000,00055.0m $74.0m	$74.0m	4.52%	New
7	Alberta Investment Management Corp 0.31% of their portfolio	EDMONTON, A0	40,000,00040.0m $53.6m	$53.6m	0.31%	Unchanged
8	Aequim Alternative Investments LP 0.83% of their portfolio	MILL VALLEY, CA	40,000,00040.0m $53.6m	$53.6m	0.83%	Reduced -25.0m	-25,000,000
9	DeepCurrents Investment Group LLC 1.15% of their portfolio	NEW YORK, NY	25,000,00025.0m $33.5m	$33.5m	1.15%	New
10	Calamos Advisors LLC 0.10% of their portfolio	NAPERVILLE, IL	20,145,00020.1m $27.0m	$27.0m	0.10%	Added +44.0k	+44,000
11	HG Vora Capital Management, LLC 12.60% of their portfolio	NEW YORK, NY	18,380,00018.4m $24.8m	$24.8m	12.60%	Added +3.5m	+3,502,000
12	STATE STREET CORP 0.00% of their portfolio	BOSTON, MA	17,887,00017.9m $23.9m	$23.9m	0.00%	Added +2.9m	+2,900,000
13	BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio	PARIS, I0	16,000,00016.0m $21.4m	$21.4m	0.01%	Reduced -17.5m	-17,500,000
14	BlackRock, Inc. 0.00% of their portfolio	New York, NY	14,600,00014.6m $19.5m	$19.5m	0.00%	Reduced -23.7m	-23,700,000
15	BANK OF MONTREAL /CAN/ 0.00% of their portfolio	TORONTO, A6	10,000,00010.0m $12.9m	$12.9m	0.00%	Unchanged
16	Sculptor Capital LP 0.14% of their portfolio	New York, NY	10,000,00010.0m $13.4m	$13.4m	0.14%	New
17	ADVENT CAPITAL MANAGEMENT /DE/ 0.29% of their portfolio	NEW YORK, NY	9,544,0009.5m $12.8m	$12.8m	0.29%	Added +1.1m	+1,141,000
18	WELLS FARGO & COMPANY/MN 0.00% of their portfolio	SAN FRANCISCO, CA	8,731,0008.7m $11.8m	$11.8m	0.00%	New
19	BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio	Paris, I0	8,400,0008.4m $11.2m	$11.2m	0.01%	New
20	FMR LLC 0.00% of their portfolio	BOSTON, MA	6,575,0006.6m $8.8m	$8.8m	0.00%	Reduced -30.0k	-30,000
21	AMERIPRISE FINANCIAL INC 0.00% of their portfolio	MINNEAPOLIS, MN	6,000,0006.0m $8.1m	$8.1m	0.00%	Unchanged
22	Thrivent Financial for Lutherans 0.01% of their portfolio	Minneapolis, MN	5,676,0005.7m $7.6m	$7.6m	0.01%	Reduced -65.0k	-65,000
23	CITIGROUP INC 0.00% of their portfolio	NEW YORK, NY	3,521,0003.5m $4.7m	$4.7m	0.00%	New
24	Nicholas Investment Partners, LP 0.24% of their portfolio	RANCHO SANTA FE, CA	3,250,0003.2m $4.3m	$4.3m	0.24%	Unchanged
25	Invesco Ltd. 0.00% of their portfolio	ATLANTA, GA	2,600,0002.6m $3.5m	$3.5m	0.00%	Unchanged
26	Lombard Odier Asset Management (Europe) Ltd 0.10% of their portfolio	LONDON, X0	1,750,0001.8m $2.4m	$2.4m	0.10%	Unchanged
27	Kohlberg Kravis Roberts & Co. L.P. 0.01% of their portfolio	NEW YORK, NY	415,000415.0k $556.0k	$556.0k	0.01%	Reduced -670.0k	-670,000
28	JPMORGAN CHASE & CO 0.00% of their portfolio	NEW YORK, NY	413,000413.0k $558.2k	$558.2k	0.00%	Reduced -2.6m	-2,629,000
29	Axxion S.A. 0.04% of their portfolio	GREVENMACHER, N4	400,000400.0k $612.6k	$612.6k	0.04%	First filing
30	Ares Systematic Credit Ltd 0.33% of their portfolio	LONDON, X0	400,000400.0k $539.3k	$539.3k	0.33%	Reduced -100.0k	-100,000
31	LOOMIS SAYLES & CO L P 0.01% of their portfolio	BOSTON, MA	344,565344.6k $11.9m	$11.9m	0.01%	Added +56.9k	+56,884
32	Bank of New York Mellon Corp 0.00% of their portfolio	NEW YORK, NY	150,000150.0k $202.2k	$202.2k	0.00%	Unchanged
33	SSI INVESTMENT MANAGEMENT LLC 0.01% of their portfolio	Los Angeles, CA	145,000145.0k $194.0k	$194.0k	0.01%	New