Vault-13

UNITED STATES STL CORP X 5 11.01.26

NOTE 5.000%11/0 · US DOMESTIC · CUSIP 912909AT5

40 institutional holders +1 vs Q2 2023
17,507,00017.5m shares reported held*
$874.7mreported value*
11 new 9 added 11 reduced 10 sold out net sold ≈ $5.0m (-1.1m 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 ≈ $49.97.

Trends to Q3 2023

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 35Q4 22: 38Q1 23: 40Q2 23: 39Q3 23: 4040Q3 22Q4 22Q1 23Q2 23Q3 23
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202340
Q2 202339
Q3 202340

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 22: 17 bought or addedQ4 22: 16 cut or sold outQ4 22Q1 23: 18 bought or addedQ1 23: 15 cut or sold outQ1 23Q2 23: 14 bought or addedQ2 23: 20 cut or sold outQ2 23Q3 23: 20 bought or addedQ3 23: 21 cut or sold outQ3 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221716
Q1 20231815
Q2 20231420
Q3 20232021

Biggest buyers

Linden Advisors LP New +30,000,000+30.0m
TENOR CAPITAL MANAGEMENT Co., L.P. New +25,000,000+25.0m
III Capital Management New +17,000,000+17.0m
MOORE CAPITAL MANAGEMENT, LP New +16,858,000+16.9m
Balyasny Asset Management L.P. New +15,000,000+15.0m
AQR Arbitrage LLC New +9,575,000+9.6m
Polar Asset Management Partners Inc. Added +6,800,000+6.8m
TWO SIGMA INVESTMENTS, LP Added +5,537,000+5.5m
Point72 Asset Management, L.P. New +5,000,000+5.0m
CAPSTONE INVESTMENT ADVISORS, LLC Added +3,500,000+3.5m

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -45,000,000-45.0m
DLD Asset Management, LP Sold out -35,682,000-35.7m
GOLDMAN SACHS GROUP INC Sold out -21,449,000-21.4m
BOOTHBAY FUND MANAGEMENT, LLC Reduced -11,034,000-11.0m
CITADEL ADVISORS LLC Sold out -5,269,000-5.3m
Worth Venture Partners, LLC Sold out -4,377,000-4.4m
BANK OF AMERICA CORP /DE/ Reduced -4,272,000-4.3m
Mint Tower Capital Management B.V. Reduced -4,095,000-4.1m
Skaana Management L.P. Reduced -3,539,000-3.5m
ADVENT CAPITAL MANAGEMENT /DE/ Sold out -2,730,000-2.7m

Holders, Q3 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.21% of their portfolio New York, NY 51,451,00051.5m $126.9m $126.9m 0.21% Unchanged
2 Polar Asset Management Partners Inc. 2.07% of their portfolio TORONTO, A6 34,800,00034.8m $85.9m $85.9m 2.07% Added +6.8m +6,800,000
3 Linden Advisors LP 0.76% of their portfolio New York, NY 30,000,00030.0m $74.0m $74.0m 0.76% New
4 TENOR CAPITAL MANAGEMENT Co., L.P. 1.33% of their portfolio NEW YORK, NY 25,000,00025.0m $62.2m $62.2m 1.33% New
5 CAPSTONE INVESTMENT ADVISORS, LLC 1.21% of their portfolio NEW YORK, NY 18,500,00018.5m $45.7m $45.7m 1.21% Added +3.5m +3,500,000
6 III Capital Management 2.51% of their portfolio BOCA RATON, FL 17,000,00017.0m $41.9m $41.9m 2.51% New
7 MOORE CAPITAL MANAGEMENT, LP 1.13% of their portfolio NEW YORK, NY 16,858,00016.9m $41.6m $41.6m 1.13% New
8 Balyasny Asset Management L.P. 0.10% of their portfolio Chicago, IL 15,000,00015.0m $37.0m $37.0m 0.10% New
9 TWO SIGMA INVESTMENTS, LP 0.09% of their portfolio NEW YORK, NY 13,612,00013.6m $33.5m $33.5m 0.09% Added +5.5m +5,537,000
10 LMR Partners LLP 0.58% of their portfolio LONDON, X0 10,534,00010.5m $26.0m $26.0m 0.58% Unchanged
11 JANE STREET GROUP, LLC 0.04% of their portfolio NEW YORK, NY 10,486,00010.5m $25.7m $25.7m 0.04% Added +825.0k +825,000
12 LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 10,000,00010.0m $24.7m $24.7m 0.03% Reduced -45.0m -45,000,000
13 Alberta Investment Management Corp 0.27% of their portfolio EDMONTON, A0 10,000,00010.0m $24.9m $24.9m 0.27% Unchanged
14 Aequim Alternative Investments LP 0.94% of their portfolio MILL VALLEY, CA 10,000,00010.0m $24.7m $24.7m 0.94% Unchanged
15 AQR Arbitrage LLC 1.06% of their portfolio Greenwich, CT 9,575,0009.6m $23.6m $23.6m 1.06% New
16 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 9,558,0009.6m $23.8m $23.8m 0.00% Added +569.0k +569,000
17 Thrivent Financial for Lutherans 0.04% of their portfolio Minneapolis, MN 7,020,0007.0m $17.3m $17.3m 0.04% Reduced -400.0k -400,000
18 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 6,760,0006.8m $16.7m $16.7m 0.02% Added +234.0k +234,000
19 Point72 Asset Management, L.P. 0.04% of their portfolio STAMFORD, CT 5,000,0005.0m $12.3m $12.3m 0.04% New
20 Mint Tower Capital Management B.V. 3.44% of their portfolio AMSTERDAM, P7 5,000,0005.0m $12.3m $12.3m 3.44% Reduced -4.1m -4,095,000
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 4,140,0004.1m $10.2m $10.2m 0.00% Reduced -4.3m -4,272,000
22 FMR LLC 0.00% of their portfolio BOSTON, MA 2,830,0002.8m $7.0m $7.0m 0.00% Unchanged
23 BlackRock Inc. 0.00% of their portfolio New York, NY 2,357,0002.4m $5.8m $5.8m 0.00% Added +375.0k +375,000
24 NOMURA HOLDINGS INC 0.61% of their portfolio TOKYO, M0 1,725,5541.7m $56.1m $56.1m 0.61% Reduced -2.1m -2,103,372
25 Flow State Investments, L.P. 1.39% of their portfolio CHICAGO, IL 1,500,0001.5m $3.7m $3.7m 1.39% New
26 BOOTHBAY FUND MANAGEMENT, LLC 0.07% of their portfolio NEW YORK, NY 873,000873.0k $2.2m $2.2m 0.07% Reduced -11.0m -11,034,000
27 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 836,000836.0k $2.1m $2.1m 0.00% Unchanged
28 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 553,000553.0k $1.4m $1.4m 0.00% Reduced -384.0k -384,000
29 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 500,000500.0k $1.2m $1.2m 0.00% Added +400.0k +400,000
30 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 400,000400.0k $623.7k $623.7k 0.00% Reduced -100.0k -100,000
31 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 400,000400.0k $985.2k $985.2k 0.01% Unchanged
32 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 394,000394.0k $957.4k $957.4k 0.00% Reduced -200.0k -200,000
33 PALISADE CAPITAL MANAGEMENT, LP 0.03% of their portfolio FORT LEE, NJ 391,000391.0k $964.0k $964.0k 0.03% Unchanged
34 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 234,000234.0k $576.3k $576.3k 0.00% Reduced -60.0k -60,000
35 Skaana Management L.P. 0.08% of their portfolio BROOKLYN, NY 90,00090.0k $221.7k $221.7k 0.08% Reduced -3.5m -3,539,000
36 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 41,00041.0k $100.7k $100.7k 0.00% Added +1.0k +1,000
37 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 19,00019.0k $46.2k $46.2k 0.00% New
38 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,0001.0k $2.5k $2.5k 0.00% New
39 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $2.5k $2.5k 0.00% New
40 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged