Vault-13

UPSTART HLDGS INC UPST 0.25 08.15.26

NOTE 0.250% 8/1 · US DOMESTIC · CUSIP 91680MAB3

34 institutional holders +2 vs Q1 2023
27,550,00027.6m shares reported held*
$402.0mreported value*
6 new 5 added 11 reduced 4 sold out net bought ≈ $11.6m (+26.0m 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 ≈ $14.59.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 39Q4 22: 36Q1 23: 32Q2 23: 3434Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202239
Q4 202236
Q1 202332
Q2 202334

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 12 bought or addedQ4 22: 18 cut or sold outQ4 22Q1 23: 10 bought or addedQ1 23: 19 cut or sold outQ1 23Q2 23: 11 bought or addedQ2 23: 15 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221218
Q1 20231019
Q2 20231115

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ3 22 calls: $0Q3 22 puts: $22.6mQ3 22P/C —Q4 22 calls: $0Q4 22 puts: $0Q4 22P/C —Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $0Q2 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$0$22.6m—
Q4 2022$0$0—
Q1 2023$0$0—
Q2 2023$0$0—

Biggest buyers

Solel Partners LP Added +49,110,000+49.1m
Strategic Income Management, LLC New +25,530,000+25.5m
OAKTREE CAPITAL MANAGEMENT LP Added +5,683,000+5.7m
SSI INVESTMENT MANAGEMENT LLC New +4,000,000+4.0m
ADVENT CAPITAL MANAGEMENT /DE/ New +3,500,000+3.5m
WHITEBOX ADVISORS LLC Added +2,500,000+2.5m
KING STREET CAPITAL MANAGEMENT, L.P. New +2,000,000+2.0m
STATE STREET CORP Added +2,000,000+2.0m
BARINGS LLC New +2,000,000+2.0m
Russell Investments Group, Ltd. Added +1,373,000+1.4m

Biggest sellers

Strategic Income Management, LLC Sold out -19,620,000-19.6m
LAZARD ASSET MANAGEMENT LLC Reduced -19,500,000-19.5m
ROYAL BANK OF CANADA Reduced -17,085,000-17.1m
LMR Partners LLP Reduced -6,000,000-6.0m
CITIGROUP INC Reduced -5,870,000-5.9m
Magnetar Financial LLC Reduced -3,380,000-3.4m
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Reduced -2,000,000-2.0m
683 Capital Management, LLC Reduced -2,000,000-2.0m
JANE STREET GROUP, LLC Sold out -1,500,000-1.5m
BANK OF AMERICA CORP /DE/ Sold out -1,000,000-1.0m

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.69% of their portfolio New York, NY 96,567,00096.6m $65.9m $65.9m 0.69% Unchanged
2 VOYA INVESTMENT MANAGEMENT LLC 0.06% of their portfolio ATLANTA, GA 86,450,00086.5m $59.4m $59.4m 0.06% Unchanged
3 REDWOOD CAPITAL MANAGEMENT, LLC 6.84% of their portfolio New York, NY 68,706,00068.7m $46.6m $46.6m 6.84% Unchanged
4 Solel Partners LP 7.09% of their portfolio BOSTON, MA 64,860,00064.9m $44.5m $44.5m 7.09% Added +49.1m +49,110,000
5 140 Summer Partners LP 8.51% of their portfolio New York, NY 56,431,00056.4m $38.3m $38.3m 8.51% Unchanged
6 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.10% of their portfolio TORONTO, A6 33,000,00033.0m $22.7m $22.7m 0.10% Reduced -2.0m -2,000,000
7 Strategic Income Management, LLC 32.82% of their portfolio SEATTLE, WA 25,530,00025.5m $17.4m $17.4m 32.82% New
8 LMR Partners LLP 0.31% of their portfolio LONDON, X0 20,000,00020.0m $13.7m $13.7m 0.31% Reduced -6.0m -6,000,000
9 WHITEBOX ADVISORS LLC 0.61% of their portfolio MINNEAPOLIS, MN 18,361,00018.4m $12.5m $12.5m 0.61% Added +2.5m +2,500,000
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 16,000,00016.0m $11.0m $11.0m 0.00% Added +2.0m +2,000,000
11 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 15,500,00015.5m $10.7m $10.7m 0.01% Reduced -19.5m -19,500,000
12 CAPSTONE INVESTMENT ADVISORS, LLC 0.24% of their portfolio NEW YORK, NY 12,000,00012.0m $8.2m $8.2m 0.24% Reduced -1.0m -1,000,000
13 683 Capital Management, LLC 0.74% of their portfolio NEW YORK, NY 11,100,00011.1m $7.6m $7.6m 0.74% Reduced -2.0m -2,000,000
14 Calamos Advisors LLC 0.03% of their portfolio NAPERVILLE, IL 10,000,00010.0m $6.8m $6.8m 0.03% Unchanged
15 TENOR CAPITAL MANAGEMENT Co., L.P. 0.14% of their portfolio NEW YORK, NY 10,000,00010.0m $6.9m $6.9m 0.14% Unchanged
16 OAKTREE CAPITAL MANAGEMENT LP 0.09% of their portfolio LOS ANGELES, CA 9,353,0009.4m $6.4m $6.4m 0.09% Added +5.7m +5,683,000
17 SSI INVESTMENT MANAGEMENT LLC 0.19% of their portfolio Los Angeles, CA 4,000,0004.0m $2.7m $2.7m 0.19% New
18 BlackRock Inc. 0.00% of their portfolio New York, NY 3,800,0003.8m $2.6m $2.6m 0.00% Reduced -100.0k -100,000
19 ADVENT CAPITAL MANAGEMENT /DE/ 0.05% of their portfolio NEW YORK, NY 3,500,0003.5m $2.4m $2.4m 0.05% New
20 Magnetar Financial LLC 0.04% of their portfolio EVANSTON, IL 3,000,0003.0m $2.0m $2.0m 0.04% Reduced -3.4m -3,380,000
21 CastleKnight Management LP 0.42% of their portfolio New York, NY 3,000,0003.0m $2.1m $2.1m 0.42% Reduced -1.0m -1,000,000
22 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,203,0002.2m $1.5m $1.5m 0.00% Added +1.4m +1,373,000
23 BARINGS LLC 0.05% of their portfolio CHARLOTTE, NC 2,000,0002.0m $1.4m $1.4m 0.05% New
24 KING STREET CAPITAL MANAGEMENT, L.P. 1.09% of their portfolio New York, NY 2,000,0002.0m $1.4m $1.4m 1.09% New
25 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,755,0001.8m $1.2m $1.2m 0.00% Reduced -621.0k -621,000
26 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,275,0001.3m $870.0k $870.0k 0.00% Reduced -17.1m -17,085,000
27 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,268,0001.3m $865.4k $865.4k 0.00% Reduced -5.9m -5,870,000
28 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 250,000250.0k $172.0k $172.0k 0.00% Unchanged
29 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 15,00015.0k $10.2k $10.2k 0.00% Unchanged
30 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 10,00010.0k $7.0k $7.0k 0.00% Unchanged
31 Sheaff Brock Investment Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 10,00010.0k $6.8k $6.8k 0.00% Unchanged
32 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 3,9003.9k $2.7m $2.7m 0.04% Unchanged
33 Context Capital Management, LLC 0.12% of their portfolio LAJOLLA, CA 2,0002.0k $1.4m $1.4m 0.12% New
34 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged