Vault-13

UNITED STATES STL CORP X 5 11.01.26

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

33 institutional holders -4 vs Q2 2024
13,491,45513.5m shares reported held*
$915.2mreported value*
3 new 5 added 10 reduced 7 sold out net sold ≈ $256.9m (+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 ($2.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $68.05.

Trends to Q3 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: 37Q3 24: 3333Q3 22Q1 23Q3 23Q1 24Q3 24
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202340
Q2 202339
Q3 202340
Q4 202337
Q1 202434
Q2 202437
Q3 202433

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 outQ1 23: 18 bought or addedQ1 23: 15 cut or sold outQ1 23Q2 23: 14 bought or addedQ2 23: 20 cut or sold outQ3 23: 20 bought or addedQ3 23: 21 cut or sold outQ3 23Q4 23: 23 bought or addedQ4 23: 21 cut or sold outQ1 24: 14 bought or addedQ1 24: 13 cut or sold outQ1 24Q2 24: 13 bought or addedQ2 24: 9 cut or sold outQ3 24: 8 bought or addedQ3 24: 17 cut or sold outQ3 24
Numbers
QuarterBought or addedCut or sold out
Q4 20221716
Q1 20231815
Q2 20231420
Q3 20232021
Q4 20232321
Q1 20241413
Q2 2024139
Q3 2024817

Biggest buyers

Linden Advisors LP Added +22,192,000+22.2m
Sculptor Capital LP Added +12,109,000+12.1m
VOYA INVESTMENT MANAGEMENT LLC New +5,000,000+5.0m
NOMURA HOLDINGS INC Added +2,746,350+2.7m
ADVENT CAPITAL MANAGEMENT /DE/ New +1,500,000+1.5m
JPMORGAN CHASE & CO Added +372,000+372.0k
BANK OF AMERICA CORP /DE/ New +170,000+170.0k
Skaana Management L.P. Added +12,000+12.0k

Biggest sellers

MIRABELLA FINANCIAL SERVICES LLP Sold out -60,531,000-60.5m
Polar Asset Management Partners Inc. Sold out -60,531,000-60.5m
D. E. Shaw & Co., Inc. Reduced -5,000,000-5.0m
MILLENNIUM MANAGEMENT LLC Sold out -5,000,000-5.0m
Balyasny Asset Management L.P. Reduced -5,000,000-5.0m
WELLS FARGO & COMPANY/MN Reduced -2,400,000-2.4m
VICTORY CAPITAL MANAGEMENT INC Sold out -500,000-500.0k
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -417,000-417.0k
STATE STREET CORP Reduced -250,000-250.0k
LOOMIS SAYLES & CO L P Sold out -205,658-205.7k

Holders, Q3 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 2.13% of their portfolio New York, NY 94,961,00095.0m $253.6m $253.6m 2.13% Added +22.2m +22,192,000
2 D. E. Shaw & Co., Inc. 0.14% of their portfolio New York, NY 41,351,00041.4m $110.5m $110.5m 0.14% Reduced -5.0m -5,000,000
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.95% of their portfolio NEW YORK, NY 25,012,00025.0m $67.4m $67.4m 0.95% Unchanged
4 CAPSTONE INVESTMENT ADVISORS, LLC 1.20% of their portfolio NEW YORK, NY 23,500,00023.5m $62.7m $62.7m 1.20% Unchanged
5 SONA ASSET MANAGEMENT (US) LLC 2.45% of their portfolio NEW YORK, NY 17,635,00017.6m $46.4m $46.4m 2.45% Unchanged
6 Sculptor Capital LP 0.73% of their portfolio New York, NY 13,869,00013.9m $37.1m $37.1m 0.73% Added +12.1m +12,109,000
7 LMR Partners LLP 0.62% of their portfolio LONDON, X0 10,534,00010.5m $28.1m $28.1m 0.62% Unchanged
8 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 10,000,00010.0m $26.7m $26.7m 0.07% Reduced -5.0m -5,000,000
9 Alberta Investment Management Corp 0.23% of their portfolio EDMONTON, A0 10,000,00010.0m $26.9m $26.9m 0.23% Unchanged
10 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 9,117,0009.1m $24.3m $24.3m 0.05% Reduced -25.0k -25,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 6,808,0006.8m $18.4m $18.4m 0.00% Reduced -250.0k -250,000
12 Warberg Asset Management LLC 4.95% of their portfolio WINNETKA, IL 6,758,0006.8m $18.1m $18.1m 4.95% Unchanged
13 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 5,000,0005.0m $13.3m $13.3m 0.01% New
14 NOMURA HOLDINGS INC 1.16% of their portfolio TOKYO, M0 4,374,4554.4m $154.5m $154.5m 1.16% Added +2.7m +2,746,350
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,782,0002.8m $7.4m $7.4m 0.00% First filing
16 FMR LLC 0.00% of their portfolio BOSTON, MA 2,550,0002.5m $6.8m $6.8m 0.00% Reduced -30.0k -30,000
17 ADVENT CAPITAL MANAGEMENT /DE/ 0.10% of their portfolio NEW YORK, NY 1,500,0001.5m $4.0m $4.0m 0.10% New
18 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,284,0001.3m $3.4m $3.4m 0.00% Reduced -2.4m -2,400,000
19 Paloma Partners Management Co 0.15% of their portfolio GREENWICH, CT 1,058,0001.1m $2.8m $2.8m 0.15% Unchanged
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 646,000646.0k $1.8m $1.8m 0.00% Added +372.0k +372,000
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 419,000419.0k $1.1m $1.1m 0.00% Reduced -417.0k -417,000
22 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 200,000200.0k $533.0k $533.0k 0.00% Unchanged
23 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 170,000170.0k $453.1k $453.1k 0.00% New
24 PALISADE CAPITAL MANAGEMENT, LP 0.01% of their portfolio FORT LEE, NJ 141,000141.0k $376.6k $376.6k 0.01% Unchanged
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 120,000120.0k $319.8k $319.8k 0.00% Unchanged
26 SSI INVESTMENT MANAGEMENT LLC 0.02% of their portfolio Los Angeles, CA 102,000102.0k $271.8k $271.8k 0.02% Unchanged
27 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 86,00086.0k $229.7k $229.7k 0.00% Reduced -62.0k -62,000
28 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 57,00057.0k $152.2k $152.2k 0.00% Reduced -5.0k -5,000
29 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 45,00045.0k $120.2k $120.2k 0.00% Reduced -44.0k -44,000
30 Skaana Management L.P. 0.02% of their portfolio BROOKLYN, NY 23,00023.0k $61.3k $61.3k 0.02% Added +12.0k +12,000
31 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 15,00015.0k $40.0k $40.0k 0.00% Unchanged
32 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,0002.0k $5.3k $5.3k 0.00% Unchanged
33 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged