Vault-13

UNITED STATES STL CORP X 5 11.01.26

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

34 institutional holders +1 vs Q3 2024
15,014,44815.0m shares reported held*
$878.1mreported value*
4 new 13 added 6 reduced 3 sold out net sold ≈ $22.1m (+1.5m 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 ($2.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $58.67.

Trends to Q4 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: 33Q4 24: 3434Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202340
Q2 202339
Q3 202340
Q4 202337
Q1 202434
Q2 202437
Q3 202433
Q4 202434

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 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 24Q3 24: 8 bought or addedQ3 24: 17 cut or sold outQ4 24: 17 bought or addedQ4 24: 9 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 20231815
Q2 20231420
Q3 20232021
Q4 20232321
Q1 20241413
Q2 2024139
Q3 2024817
Q4 2024179

Biggest buyers

BANK OF MONTREAL /CAN/ New +6,000,000+6.0m
SSI INVESTMENT MANAGEMENT LLC Added +1,380,000+1.4m
STATE STREET CORP Added +1,000,000+1.0m
Thrivent Financial for Lutherans Added +850,000+850.0k
BlackRock, Inc. Added +700,000+700.0k
NOMURA HOLDINGS INC Added +672,993+673.0k
JPMORGAN CHASE & CO Added +427,000+427.0k
VOYA INVESTMENT MANAGEMENT LLC Added +400,000+400.0k
BNP PARIBAS FINANCIAL MARKETS New +200,000+200.0k
FMR LLC Added +130,000+130.0k

Biggest sellers

Balyasny Asset Management L.P. Sold out -10,000,000-10.0m
Linden Advisors LP Reduced -7,500,000-7.5m
D. E. Shaw & Co., Inc. Reduced -1,740,000-1.7m
Sculptor Capital LP Reduced -790,000-790.0k
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -355,000-355.0k
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -200,000-200.0k
BANK OF AMERICA CORP /DE/ Reduced -50,000-50.0k
Jefferies Financial Group Inc. Sold out -15,000-15.0k
Calamos Advisors LLC Reduced -3,000-3.0k

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.87% of their portfolio New York, NY 87,461,00087.5m $225.0m $225.0m 1.87% Reduced -7.5m -7,500,000
2 D. E. Shaw & Co., Inc. 0.11% of their portfolio New York, NY 39,611,00039.6m $101.8m $101.8m 0.11% Reduced -1.7m -1,740,000
3 TENOR CAPITAL MANAGEMENT Co., L.P. 0.91% of their portfolio NEW YORK, NY 25,012,00025.0m $64.5m $64.5m 0.91% Unchanged
4 CAPSTONE INVESTMENT ADVISORS, LLC 0.60% of their portfolio NEW YORK, NY 23,500,00023.5m $60.4m $60.4m 0.60% Unchanged
5 SONA ASSET MANAGEMENT (US) LLC 2.33% of their portfolio NEW YORK, NY 17,635,00017.6m $45.3m $45.3m 2.33% Unchanged
6 Sculptor Capital LP 0.54% of their portfolio New York, NY 13,079,00013.1m $33.6m $33.6m 0.54% Reduced -790.0k -790,000
7 LMR Partners LLP 0.47% of their portfolio LONDON, X0 10,534,00010.5m $27.0m $27.0m 0.47% Unchanged
8 Alberta Investment Management Corp 0.17% of their portfolio EDMONTON, A0 10,000,00010.0m $25.8m $25.8m 0.17% Unchanged
9 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 9,967,00010.0m $25.6m $25.6m 0.05% Added +850.0k +850,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,808,0007.8m $20.1m $20.1m 0.00% Added +1.0m +1,000,000
11 Warberg Asset Management LLC 4.80% of their portfolio WINNETKA, IL 6,762,0006.8m $17.4m $17.4m 4.80% Added +4.0k +4,000
12 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 6,000,0006.0m $14.2m $14.2m 0.01% New
13 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 5,400,0005.4m $13.9m $13.9m 0.01% Added +400.0k +400,000
14 NOMURA HOLDINGS INC 0.91% of their portfolio TOKYO, M0 5,047,4485.0m $171.6m $171.6m 0.91% Added +673.0k +672,993
15 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,482,0003.5m $8.9m $8.9m 0.00% Added +700.0k +700,000
16 FMR LLC 0.00% of their portfolio BOSTON, MA 2,680,0002.7m $6.9m $6.9m 0.00% Added +130.0k +130,000
17 SSI INVESTMENT MANAGEMENT LLC 0.28% of their portfolio Los Angeles, CA 1,482,0001.5m $3.8m $3.8m 0.28% Added +1.4m +1,380,000
18 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,334,0001.3m $3.1m $3.1m 0.00% Added +50.0k +50,000
19 ADVENT CAPITAL MANAGEMENT /DE/ 0.07% of their portfolio NEW YORK, NY 1,145,0001.1m $2.9m $2.9m 0.07% Reduced -355.0k -355,000
20 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,073,0001.1m $2.5m $2.5m 0.00% Added +427.0k +427,000
21 Paloma Partners Management Co 0.18% of their portfolio GREENWICH, CT 1,058,0001.1m $2.7m $2.7m 0.18% Unchanged
22 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 419,000419.0k $1.1m $1.1m 0.00% Unchanged
23 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 211,000211.0k $541.2k $541.2k 0.00% Added +125.0k +125,000
24 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 200,000200.0k $513.8k $513.8k 0.00% New
25 PALISADE CAPITAL MANAGEMENT, LP 0.01% of their portfolio FORT LEE, NJ 141,000141.0k $363.0k $363.0k 0.01% Unchanged
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 120,000120.0k $307.9k $307.9k 0.00% Reduced -50.0k -50,000
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 120,000120.0k $307.9k $307.9k 0.00% Unchanged
28 Central Pacific Bank - Trust Division 0.03% of their portfolio HONOLULU, HI 86,00086.0k $220.7k $220.7k 0.03% New
29 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 67,00067.0k $172.3k $172.3k 0.00% Added +10.0k +10,000
30 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 42,00042.0k $107.9k $107.9k 0.00% Reduced -3.0k -3,000
31 Skaana Management L.P. 0.02% of their portfolio BROOKLYN, NY 26,00026.0k $66.7k $66.7k 0.02% Added +3.0k +3,000
32 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 25,00025.0k $64.2k $64.2k 0.00% New
33 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,0002.0k $5.1k $5.1k 0.00% Unchanged
34 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged