Vault-13

UNIVERSAL STAINLESS & ALLOY

COM · CUSIP 913837100

133 institutional holders +17 vs Q3 2024
7,428,9797.4m shares reported held*
$327.2mreported value*
39 new 32 added 36 reduced 30 sold out net bought ≈ $33.6m (+767.7k 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 ($77.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $44.04. Options: 10 managers hold calls ($8.0m notional), 5 hold puts ($277.1k).

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 36Q4 22: 38Q1 23: 39Q2 23: 50Q3 23: 58Q4 23: 70Q1 24: 79Q2 24: 100Q3 24: 116Q4 24: 133133Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 202236
Q4 202238
Q1 202339
Q2 202350
Q3 202358
Q4 202370
Q1 202479
Q2 2024100
Q3 2024116
Q4 2024133

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 23: 17 bought or addedQ1 23: 14 cut or sold outQ2 23: 26 bought or addedQ2 23: 14 cut or sold outQ2 23Q3 23: 29 bought or addedQ3 23: 22 cut or sold outQ4 23: 39 bought or addedQ4 23: 21 cut or sold outQ4 23Q1 24: 49 bought or addedQ1 24: 29 cut or sold outQ2 24: 63 bought or addedQ2 24: 44 cut or sold outQ2 24Q3 24: 67 bought or addedQ3 24: 45 cut or sold outQ4 24: 71 bought or addedQ4 24: 66 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 20231714
Q2 20232614
Q3 20232922
Q4 20233921
Q1 20244929
Q2 20246344
Q3 20246745
Q4 20247166

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6m$8mQ1 24 calls: $539.9kQ1 24 puts: $6.0kQ1 24P/C 0.01Q2 24 calls: $13.0kQ2 24 puts: $105.9kQ2 24P/C 8.15Q3 24 calls: $919.4kQ3 24 puts: $526.0kQ3 24P/C 0.57Q4 24 calls: $8.0mQ4 24 puts: $277.1kQ4 24P/C 0.03
Numbers
QuarterCallsPutsP/C
Q1 2024$539.9k$6.0k0.01
Q2 2024$13.0k$105.9k8.15
Q3 2024$919.4k$526.0k0.57
Q4 2024$8.0m$277.1k0.03

Biggest buyers

Magnetar Financial LLC New +616,486+616.5k
FIL Ltd New +376,601+376.6k
ALLIANCEBERNSTEIN L.P. New +328,610+328.6k
Schonfeld Strategic Advisors LLC New +231,157+231.2k
Squarepoint Ops LLC Added +223,979+224.0k
TIG Advisors, LLC New +186,293+186.3k
CITIGROUP INC Added +142,853+142.9k
Qube Research & Technologies Ltd Added +128,006+128.0k
HSBC HOLDINGS PLC New +93,555+93.6k
Meteora Capital, LLC New +92,298+92.3k

Biggest sellers

NEXT CENTURY GROWTH INVESTORS LLC Sold out -556,684-556.7k
DIMENSIONAL FUND ADVISORS LP Reduced -254,767-254.8k
Invesco Ltd. Reduced -159,319-159.3k
Foundry Partners, LLC Sold out -158,365-158.4k
MORGAN STANLEY Reduced -147,448-147.4k
Portolan Capital Management, LLC Sold out -104,916-104.9k
BRIDGEWAY CAPITAL MANAGEMENT, LLC Sold out -97,328-97.3k
Hillsdale Investment Management Inc. Reduced -74,400-74.4k
JPMORGAN CHASE & CO Reduced -70,898-70.9k
Acuitas Investments, LLC Sold out -57,367-57.4k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $6.3m142.0k shares
CITADEL ADVISORS LLC Added $515.2k11.7k shares
WOLVERINE TRADING, LLC New $351.2k8.0k shares
GROUP ONE TRADING LLC New $286.2k6.5k shares
JANE STREET GROUP, LLC New $281.8k6.4k shares
SIMPLEX TRADING, LLC New $154.0k3.5k shares
Belvedere Trading LLC New $118.9k2.7k shares
HAP Trading, LLC New $2.7k12.2k shares
FNY Investment Advisers, LLC New $2.0k61 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SIMPLEX TRADING, LLC Added $123.0k2.8k shares
Belvedere Trading LLC New $96.9k2.2k shares
CITADEL ADVISORS LLC Reduced $44.0k1.0k shares
CSS LLC/IL New $13.2k300 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock, Inc. 0.00% of their portfolio New York, NY 621,767621.8k $27.4m $27.4m 0.00% Added +21.3k +21,336
2 Magnetar Financial LLC 0.63% of their portfolio EVANSTON, IL 616,486616.5k $27.1m $27.1m 0.63% New
3 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 448,261448.3k $19.7m $19.7m 0.00% Reduced -28.1k -28,097
4 Minerva Advisors LLC 10.09% of their portfolio BALA CYNWYD, PA 391,487391.5k $17.2m $17.2m 10.09% Reduced -43.6k -43,604
5 FIL Ltd 0.02% of their portfolio HAMILTON, D0 376,601376.6k $16.6m $16.6m 0.02% New
6 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 328,610328.6k $14.5m $14.5m 0.00% New
7 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 298,359298.4k $13.1m $13.1m 0.00% Reduced -254.8k -254,767
8 JB CAPITAL PARTNERS LP 2.07% of their portfolio Armonk, NY 245,000245.0k $10.8m $10.8m 2.07% Unchanged
9 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 242,544242.5k $10.7m $10.7m 0.01% Added +34.5k +34,495
10 Squarepoint Ops LLC 0.03% of their portfolio NEW YORK, NY 237,688237.7k $10.5m $10.5m 0.03% Added +224.0k +223,979
11 Schonfeld Strategic Advisors LLC 0.06% of their portfolio NEW YORK, NY 231,157231.2k $10.2m $10.2m 0.06% New
12 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 209,743209.7k $9.2m $9.2m 0.00% Added +855 +855
13 TIG Advisors, LLC 0.63% of their portfolio New York, NY 186,293186.3k $8.2m $8.2m 0.63% New
14 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 184,519184.5k $8.1m $8.1m 0.01% Added +34.6k +34,634
15 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 167,773167.8k $7.4m $7.4m 0.01% Added +128.0k +128,006
16 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 157,661157.7k $6.9m $6.9m 0.00% Added +5.5k +5,479
17 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 152,500152.5k $6.7m $6.7m 0.01% Reduced -17.5k -17,488
18 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 149,630149.6k $6.6m $6.6m 0.01% Added +142.9k +142,853
19 Hillsdale Investment Management Inc. 0.21% of their portfolio Toronto, A6 94,00094.0k $4.1m $4.1m 0.21% Reduced -74.4k -74,400
20 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 93,55593.6k $4.1m $4.1m 0.00% New
21 Meteora Capital, LLC 1.46% of their portfolio Boca Raton, FL 92,29892.3k $4.1m $4.1m 1.46% New
22 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 84,09584.1k $3.7m $3.7m 0.01% Reduced -36.0k -36,037
23 OBERWEIS ASSET MANAGEMENT INC/ 0.17% of their portfolio LISLE, IL 80,90080.9k $3.6m $3.6m 0.17% Unchanged
24 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 79,11679.1k $3.5m $3.5m 0.00% Added +2.0k +2,001
25 Yakira Capital Management, Inc. 1.36% of their portfolio Westport, CT 77,83077.8k $3.4m $3.4m 1.36% New
26 ABC ARBITRAGE SA 0.48% of their portfolio PARIS, I0 76,75176.8k $3.4m $3.4m 0.48% First filing
27 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 70,80070.8k $3.1m $3.1m 0.02% New
28 Capula Management Ltd 0.02% of their portfolio Grand Cayman, E9 67,89967.9k $3.0m $3.0m 0.02% Not comparable
29 Sagefield Capital LP 0.30% of their portfolio DALLAS, TX 63,80063.8k $2.8m $2.8m 0.30% New
30 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 52,27852.3k $2.3m $2.3m 0.01% Reduced -5.5k -5,474
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 49,96150.0k $2.2m $2.2m 0.00% Reduced -147.4k -147,448
32 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 47,55547.6k $2.1m $2.1m 0.00% New
33 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 46,64946.6k $2.1m $2.1m 0.01% New
34 BOOTHBAY FUND MANAGEMENT, LLC 0.06% of their portfolio NEW YORK, NY 46,14946.1k $2.0m $2.0m 0.06% New
35 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 45,07445.1k $2.0m $2.0m 0.00% Reduced -70.9k -70,898
36 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 44,20344.2k $1.9m $1.9m 0.00% Added +4.1k +4,088
37 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 42,60042.6k $1.9m $1.9m 0.00% Reduced -55.7k -55,700
38 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 40,51940.5k $1.8m $1.8m 0.00% Added +20.4k +20,434
39 UBS Group AG 0.00% of their portfolio ZURICH, V8 38,17938.2k $1.7m $1.7m 0.00% Reduced -2.1k -2,070
40 BCK CAPITAL MANAGEMENT LP 1.02% of their portfolio STAMFORD, CT 32,00032.0k $1.4m $1.4m 1.02% New
41 OXFORD ASSET MANAGEMENT LLP 0.61% of their portfolio OXFORD, X0 31,08931.1k $1.4m $1.4m 0.61% Not comparable
42 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 30,73730.7k $1.4m $1.4m 0.00% Unchanged
43 Mint Tower Capital Management B.V. 0.35% of their portfolio AMSTERDAM, P7 30,00030.0k $1.3m $1.3m 0.35% New
44 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 29,09029.1k $1.3m $1.3m 0.00% Reduced -159.3k -159,319
45 Peapod Lane Capital LLC 1.26% of their portfolio Bedford Hills, NY 28,79228.8k $1.3m $1.3m 1.26% First filing
46 SummerHaven Investment Management, LLC 0.76% of their portfolio STAMFORD, CT 28,05628.1k $1.2m $1.2m 0.76% Unchanged
47 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 28,01028.0k $1.2m $1.2m 0.00% Added +1.5k +1,497
48 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 27,62027.6k $1.2m $1.2m 0.00% Reduced -2.9k -2,873
49 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 26,82926.8k $1.2m $1.2m 0.02% Reduced -12.2k -12,242
50 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 26,56726.6k $1.2m $1.2m 0.00% Reduced -26.9k -26,918
51 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 26,17426.2k $1.2m $1.2m 0.00% New
52 WATER ISLAND CAPITAL LLC 0.14% of their portfolio NEW YORK, NY 26,05426.1k $1.1m $1.1m 0.14% New
53 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 23,70723.7k $1.0m $1.0m 0.00% Reduced -8.8k -8,820
54 GABELLI & Co INVESTMENT ADVISERS, INC. 0.17% of their portfolio Rye, NY 23,15023.1k $1.0m $1.0m 0.17% New
55 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 19,50419.5k $858.8k $858.8k 0.00% Added +7.7k +7,743
56 Diametric Capital, LP 0.56% of their portfolio BOSTON, MA 18,95219.0k $834.5k $834.5k 0.56% New
57 PANAGORA ASSET MANAGEMENT INC 0.00% of their portfolio BOSTON, MA 18,94318.9k $834.1k $834.1k 0.00% Reduced -26.5k -26,452
58 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 16,34416.3k $719.6k $719.6k 0.00% New
59 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,09016.1k $708.4k $708.4k 0.00% Reduced -5.6k -5,592
60 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 15,19515.2k $669.0k $669.0k 0.00% Added +6.6k +6,632
61 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 14,97915.0k $659.5k $659.5k 0.00% Added +1.6k +1,600
62 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 14,44214.4k $635.9k $635.9k 0.00% Reduced -12.6k -12,622
63 Skandinaviska Enskilda Banken AB (publ) 0.00% of their portfolio STOCKHOLM, V7 14,26414.3k $626.2k $626.2k 0.00% New
64 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 13,81113.8k $608.0k $608.0k 0.00% Reduced -3.2k -3,227
65 WOLVERINE ASSET MANAGEMENT LLC 0.01% of their portfolio CHICAGO, IL 13,68513.7k $602.5k $602.5k 0.01% New
66 STRS OHIO 0.00% of their portfolio COLUMBUS, OH 12,80012.8k $563.6k $563.6k 0.00% Added +11.4k +11,400
67 CSS LLC/IL 0.03% of their portfolio CHICAGO, IL 12,20912.2k $537.6k $537.6k 0.03% New
68 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 12,04612.0k $530.4k $530.4k 0.00% Added +756 +756
69 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 11,87011.9k $522.0k $522.0k 0.00% New
70 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 10,92610.9k $481.1k $481.1k 0.00% Reduced -22.3k -22,253
71 PenderFund Capital Management Ltd. 0.15% of their portfolio VANCOUVER, A1 10,90010.9k $687.8k $687.8k 0.15% New
72 Precision Wealth Strategies, LLC 0.35% of their portfolio SAINT LOUIS, MO 10,37110.4k $456.6k $456.6k 0.35% New
73 New York Life Investment Management LLC 0.00% of their portfolio New York, NY 9,9439.9k $437.8k $437.8k 0.00% New
74 ALPS ADVISORS INC 0.00% of their portfolio Denver, CO 9,7009.7k $427.1k $427.1k 0.00% Unchanged
75 FIRST MANHATTAN CO. LLC. 0.00% of their portfolio NEW YORK, NY 8,2508.2k $363.2k $363.2k 0.00% Reduced -450 -450
76 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 8,2208.2k $361.9k $361.9k 0.00% Reduced -45.0k -45,026
77 PRELUDE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 7,7337.7k $340.5k $340.5k 0.03% New
78 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 7,7247.7k $340.1k $340.1k 0.00% Added +3.1k +3,137
79 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 7,2927.3k $321.1k $321.1k 0.00% Added +661 +661
80 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 7,0507.0k $310.4k $310.4k 0.00% New
81 Belvedere Trading LLC 0.02% of their portfolio CHICAGO, IL 6,6526.7k $292.9k $292.9k 0.02% New
82 Net Worth Advisory Group 0.08% of their portfolio SANDY, UT 6,0766.1k $267.5k $267.5k 0.08% Reduced -238 -238
83 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 5,4905.5k $241.7k $241.7k 0.00% Added +3.7k +3,682
84 GSA CAPITAL PARTNERS LLP 0.02% of their portfolio LONDON, X0 5,4415.4k $240.0k $240.0k 0.02% New
85 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 5,4105.4k $238.2k $238.2k 0.00% Unchanged
86 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,3345.3k $234.9k $234.9k 0.00% Reduced -10.0k -9,954
87 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 5,3065.3k $233.6k $233.6k 0.00% Reduced -404 -404
88 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 5,0985.1k $224.5k $224.5k 0.00% Unchanged
89 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 5,0075.0k $220.5k $220.5k 0.00% Added +228 +228
90 CORNERCAP INVESTMENT COUNSEL INC 0.07% of their portfolio Atlanta, GA 4,9444.9k $217.7k $217.7k 0.07% Reduced -7.5k -7,521
91 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 4,9174.9k $216.5k $216.5k 0.00% Reduced -1.4k -1,390
92 Corebridge Financial, Inc. 0.00% of their portfolio HOUSTON, TX 4,3924.4k $193.4k $193.4k 0.00% Reduced -265 -265
93 CWM, LLC 0.00% of their portfolio OMAHA, NE 4,2524.3k $187.0k $187.0k 0.00% Added +4.0k +4,021
94 Marquette Asset Management, LLC 0.03% of their portfolio MINNEAPOLIS, MN 4,1894.2k $184.4k $184.4k 0.03% Reduced -4.2k -4,182
95 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 4,0494.0k $178.0k $178.0k 0.00% Added +1.3k +1,261
96 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 3,6003.6k $158.5k $158.5k 0.00% Reduced -26.0k -25,952
97 Point72 (DIFC) Ltd 0.01% of their portfolio DUBAI, C0 2,9152.9k $128.3k $128.3k 0.01% Added +1.9k +1,944
98 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 2,8222.8k $124.0k $124.0k 0.00% Added +2.4k +2,366
99 RiverPark Advisors, LLC 0.07% of their portfolio NEW YORK, NY 2,6002.6k $93.7k $93.7k 0.07% Reduced -2.2k -2,205
100 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 2,4752.5k $109 $109 0.00% New