Vault-13

UNITED STATES STL CORP X 5 11.01.26

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

34 institutional holders +0 vs Q4 2024
5,047,4485.0m shares reported held*
$1.1bnreported value*
4 new 7 added 7 reduced 4 sold out net bought ≈ $19.6m (-10.0m 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 ≈ $220.00.

Trends to Q1 2025

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: 34Q1 25: 3434Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 202235
Q4 202238
Q1 202340
Q2 202339
Q3 202340
Q4 202337
Q1 202434
Q2 202437
Q3 202433
Q4 202434
Q1 202534

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 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 24Q4 24: 17 bought or addedQ4 24: 9 cut or sold outQ1 25: 11 bought or addedQ1 25: 11 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20231420
Q3 20232021
Q4 20232321
Q1 20241413
Q2 2024139
Q3 2024817
Q4 2024179
Q1 20251111

Biggest buyers

Thrivent Financial for Lutherans New +9,267,000+9.3m
CAPSTONE INVESTMENT ADVISORS, LLC Added +8,084,000+8.1m
VOYA INVESTMENT MANAGEMENT LLC Added +6,400,000+6.4m
BANK OF MONTREAL /CAN/ Added +5,400,000+5.4m
MIRABELLA FINANCIAL SERVICES LLP New +4,400,000+4.4m
FMR LLC Added +1,603,000+1.6m
AGF MANAGEMENT LTD New +600,000+600.0k
Calamos Advisors LLC Added +68,000+68.0k
JPMORGAN CHASE & CO Added +59,000+59.0k
Skaana Management L.P. Added +17,000+17.0k

Biggest sellers

Linden Advisors LP Reduced -10,000,000-10.0m
Thrivent Financial for Lutherans Sold out -9,967,000-10.0m
D. E. Shaw & Co., Inc. Reduced -5,674,000-5.7m
ADVENT CAPITAL MANAGEMENT /DE/ Sold out -1,145,000-1.1m
Paloma Partners Management Co Sold out -1,058,000-1.1m
WELLS FARGO & COMPANY/MN Reduced -934,000-934.0k
STATE STREET CORP Reduced -600,000-600.0k
BARCLAYS PLC Reduced -208,000-208.0k
BANK OF AMERICA CORP /DE/ Reduced -70,000-70.0k
Warberg Asset Management LLC Reduced -63,000-63.0k

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.66% of their portfolio New York, NY 77,461,00077.5m $245.5m $245.5m 1.66% Reduced -10.0m -10,000,000
2 D. E. Shaw & Co., Inc. 0.13% of their portfolio New York, NY 33,937,00033.9m $107.6m $107.6m 0.13% Reduced -5.7m -5,674,000
3 CAPSTONE INVESTMENT ADVISORS, LLC 0.92% of their portfolio NEW YORK, NY 31,584,00031.6m $100.0m $100.0m 0.92% Added +8.1m +8,084,000
4 TENOR CAPITAL MANAGEMENT Co., L.P. 1.14% of their portfolio NEW YORK, NY 25,012,00025.0m $79.8m $79.8m 1.14% Unchanged
5 SONA ASSET MANAGEMENT (US) LLC 2.13% of their portfolio NEW YORK, NY 17,635,00017.6m $55.9m $55.9m 2.13% Unchanged
6 Sculptor Capital LP 0.93% of their portfolio New York, NY 13,079,00013.1m $41.6m $41.6m 0.93% Unchanged
7 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 11,800,00011.8m $37.4m $37.4m 0.02% Added +6.4m +6,400,000
8 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 11,400,00011.4m $36.2m $36.2m 0.02% Added +5.4m +5,400,000
9 LMR Partners LLP 0.67% of their portfolio LONDON, X0 10,534,00010.5m $33.4m $33.4m 0.67% Unchanged
10 Alberta Investment Management Corp 0.22% of their portfolio EDMONTON, A0 10,000,00010.0m $32.0m $32.0m 0.22% Unchanged
11 Thrivent Financial for Lutherans 0.06% of their portfolio Minneapolis, MN 9,267,0009.3m $29.5m $29.5m 0.06% New
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 7,208,0007.2m $23.0m $23.0m 0.00% Reduced -600.0k -600,000
13 Warberg Asset Management LLC 5.81% of their portfolio WINNETKA, IL 6,699,0006.7m $21.2m $21.2m 5.81% Reduced -63.0k -63,000
14 NOMURA HOLDINGS INC 1.14% of their portfolio TOKYO, M0 5,047,4485.0m $213.3m $213.3m 1.14% Unchanged
15 MIRABELLA FINANCIAL SERVICES LLP 0.28% of their portfolio London, X0 4,400,0004.4m $13.9m $13.9m 0.28% New
16 FMR LLC 0.00% of their portfolio BOSTON, MA 4,283,0004.3m $13.5m $13.5m 0.00% Added +1.6m +1,603,000
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,482,0003.5m $11.0m $11.0m 0.00% Unchanged
18 SSI INVESTMENT MANAGEMENT LLC 0.36% of their portfolio Los Angeles, CA 1,482,0001.5m $4.7m $4.7m 0.36% Unchanged
19 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,132,0001.1m $3.6m $3.6m 0.00% Added +59.0k +59,000
20 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 600,000600.0k $1.9m $1.9m 0.01% New
21 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 419,000419.0k $1.3m $1.3m 0.00% Unchanged
22 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 400,000400.0k $1.3m $1.3m 0.00% Reduced -934.0k -934,000
23 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 200,000200.0k $635.6k $635.6k 0.00% First filing
24 PALISADE CAPITAL MANAGEMENT, LP 0.01% of their portfolio FORT LEE, NJ 141,000141.0k $446.7k $446.7k 0.01% Unchanged
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 120,000120.0k $379.4k $379.4k 0.00% Unchanged
26 Calamos Advisors LLC 0.00% of their portfolio NAPERVILLE, IL 110,000110.0k $349.6k $349.6k 0.00% Added +68.0k +68,000
27 Central Pacific Bank - Trust Division 0.04% of their portfolio HONOLULU, HI 86,00086.0k $271.9k $271.9k 0.04% Unchanged
28 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 67,00067.0k $212.2k $212.2k 0.00% Unchanged
29 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 50,00050.0k $158.1k $158.1k 0.00% Reduced -70.0k -70,000
30 Skaana Management L.P. 0.06% of their portfolio BROOKLYN, NY 43,00043.0k $136.0k $136.0k 0.06% Added +17.0k +17,000
31 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 16,00016.0k $50.0k $50.0k 0.00% New
32 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 3,0003.0k $9.5k $9.5k 0.00% Reduced -208.0k -208,000
33 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,0002.0k $6.3k $6.3k 0.00% Unchanged
34 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged