Vault-13

UNITED STATES STL CORP X 5 11.01.26

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

37 institutional holders +3 vs Q1 2024
10,975,76311.0m shares reported held*
$1.2bnreported value*
5 new 8 added 8 reduced 1 sold out net bought ≈ $170.0m (+2.5m 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 ($3.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $105.74.

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 35Q4 22: 38Q1 23: 40Q2 23: 39Q3 23: 40Q4 23: 37Q1 24: 34Q2 24: 3737Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202340
Q2 202339
Q3 202340
Q4 202337
Q1 202434
Q2 202437

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 outQ2 23: 14 bought or addedQ2 23: 20 cut or sold outQ2 23Q3 23: 20 bought or addedQ3 23: 21 cut or sold outQ4 23: 23 bought or addedQ4 23: 21 cut or sold outQ4 23Q1 24: 14 bought or addedQ1 24: 13 cut or sold outQ2 24: 13 bought or addedQ2 24: 9 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20221716
Q1 20231815
Q2 20231420
Q3 20232021
Q4 20232321
Q1 20241413
Q2 2024139

Biggest buyers

MIRABELLA FINANCIAL SERVICES LLP New +60,531,000+60.5m
SONA ASSET MANAGEMENT (US) LLC Added +4,635,000+4.6m
WELLS FARGO & COMPANY/MN Added +2,580,000+2.6m
Linden Advisors LP Added +2,400,000+2.4m
Thrivent Financial for Lutherans Added +2,385,000+2.4m
Sculptor Capital LP Added +1,500,000+1.5m
BlackRock Inc. Added +300,000+300.0k
LOOMIS SAYLES & CO L P New +205,658+205.7k
Warberg Asset Management LLC Added +200,000+200.0k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +200,000+200.0k

Biggest sellers

Elequin Capital, LP Sold out -5,286,000-5.3m
MILLENNIUM MANAGEMENT LLC Reduced -4,700,000-4.7m
D. E. Shaw & Co., Inc. Reduced -2,500,000-2.5m
Skaana Management L.P. Reduced -2,198,000-2.2m
STATE STREET CORP Reduced -400,000-400.0k
FMR LLC Reduced -150,000-150.0k
MORGAN STANLEY Reduced -135,000-135.0k
BARCLAYS PLC Reduced -108,000-108.0k
NOMURA HOLDINGS INC Reduced -74,029-74.0k

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.73% of their portfolio New York, NY 72,769,00072.8m $207.3m $207.3m 1.73% Added +2.4m +2,400,000
2 Polar Asset Management Partners Inc. 4.42% of their portfolio TORONTO, A6 60,531,00060.5m $172.8m $172.8m 4.42% Unchanged
3 MIRABELLA FINANCIAL SERVICES LLP 12.16% of their portfolio London, X0 60,531,00060.5m $166.9m $166.9m 12.16% New
4 D. E. Shaw & Co., Inc. 0.19% of their portfolio New York, NY 46,351,00046.4m $132.1m $132.1m 0.19% Reduced -2.5m -2,500,000
5 TENOR CAPITAL MANAGEMENT Co., L.P. 1.12% of their portfolio NEW YORK, NY 25,012,00025.0m $71.6m $71.6m 1.12% Unchanged
6 CAPSTONE INVESTMENT ADVISORS, LLC 1.46% of their portfolio NEW YORK, NY 23,500,00023.5m $67.0m $67.0m 1.46% Unchanged
7 SONA ASSET MANAGEMENT (US) LLC 4.10% of their portfolio NEW YORK, NY 17,635,00017.6m $50.3m $50.3m 4.10% Added +4.6m +4,635,000
8 Balyasny Asset Management L.P. 0.11% of their portfolio Chicago, IL 15,000,00015.0m $42.8m $42.8m 0.11% Unchanged
9 LMR Partners LLP 0.64% of their portfolio LONDON, X0 10,534,00010.5m $30.1m $30.1m 0.64% Unchanged
10 Alberta Investment Management Corp 0.30% of their portfolio EDMONTON, A0 10,000,00010.0m $28.6m $28.6m 0.30% Unchanged
11 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 9,142,0009.1m $26.0m $26.0m 0.05% Added +2.4m +2,385,000
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,058,0007.1m $20.2m $20.2m 0.00% Reduced -400.0k -400,000
13 Warberg Asset Management LLC 5.12% of their portfolio WINNETKA, IL 6,758,0006.8m $19.3m $19.3m 5.12% Added +200.0k +200,000
14 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 5,000,0005.0m $14.2m $14.2m 0.01% Reduced -4.7m -4,700,000
15 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,684,0003.7m $10.5m $10.5m 0.00% Added +2.6m +2,580,000
16 BlackRock Inc. 0.00% of their portfolio New York, NY 2,932,0002.9m $8.3m $8.3m 0.00% Added +300.0k +300,000
17 FMR LLC 0.00% of their portfolio BOSTON, MA 2,580,0002.6m $7.3m $7.3m 0.00% Reduced -150.0k -150,000
18 Sculptor Capital LP 0.10% of their portfolio New York, NY 1,760,0001.8m $5.0m $5.0m 0.10% Added +1.5m +1,500,000
19 NOMURA HOLDINGS INC 0.39% of their portfolio TOKYO, M0 1,628,1051.6m $61.5m $61.5m 0.39% Reduced -74.0k -74,029
20 Paloma Partners Management Co 0.26% of their portfolio GREENWICH, CT 1,058,0001.1m $3.0m $3.0m 0.26% Added +148.0k +148,000
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 836,000836.0k $2.4m $2.4m 0.00% Unchanged
22 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 500,000500.0k $1.4m $1.4m 0.00% Unchanged
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 274,000274.0k $781.9k $781.9k 0.00% Unchanged
24 LOOMIS SAYLES & CO L P 0.01% of their portfolio BOSTON, MA 205,658205.7k $7.8m $7.8m 0.01% New
25 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 200,000200.0k $568.8k $568.8k 0.00% New
26 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 200,000200.0k $570.8k $570.8k 0.00% Unchanged
27 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 148,000148.0k $422.3k $422.3k 0.00% Reduced -108.0k -108,000
28 PALISADE CAPITAL MANAGEMENT, LP 0.01% of their portfolio FORT LEE, NJ 141,000141.0k $402.0k $402.0k 0.01% Unchanged
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 120,000120.0k $341.3k $341.3k 0.00% Reduced -135.0k -135,000
30 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 102,000102.0k $290.1k $290.1k 0.02% New
31 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 100,000100.0k $284.0k $284.0k 0.00% Unchanged
32 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 89,00089.0k $254.0k $254.0k 0.00% Unchanged
33 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 62,00062.0k $176.6k $176.6k 0.00% Unchanged
34 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 15,00015.0k $42.1k $42.1k 0.00% New
35 Skaana Management L.P. 0.01% of their portfolio BROOKLYN, NY 11,00011.0k $31.3k $31.3k 0.01% Reduced -2.2m -2,198,000
36 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,0002.0k $5.7k $5.7k 0.00% Unchanged
37 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged