Vault-13

UPSTART HLDGS INC UPST 0.25 08.15.26

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

24 institutional holders +2 vs Q4 2024
20,00020.0k shares reported held*
$237.6mreported value*
6 new 5 added 5 reduced 4 sold out net sold ≈ $5.9m

* 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 ($1.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $11952.47.

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 39Q4 22: 36Q1 23: 32Q2 23: 34Q3 23: 38Q4 23: 37Q1 24: 34Q2 24: 34Q3 24: 29Q4 24: 22Q1 25: 2424Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 202239
Q4 202236
Q1 202332
Q2 202334
Q3 202338
Q4 202337
Q1 202434
Q2 202434
Q3 202429
Q4 202422
Q1 202524

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q2 23: 11 bought or addedQ2 23: 15 cut or sold outQ3 23: 15 bought or addedQ3 23: 14 cut or sold outQ3 23Q4 23: 14 bought or addedQ4 23: 15 cut or sold outQ1 24: 11 bought or addedQ1 24: 14 cut or sold outQ1 24Q2 24: 16 bought or addedQ2 24: 8 cut or sold outQ3 24: 12 bought or addedQ3 24: 21 cut or sold outQ3 24Q4 24: 7 bought or addedQ4 24: 15 cut or sold outQ1 25: 11 bought or addedQ1 25: 9 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 20231115
Q3 20231514
Q4 20231415
Q1 20241114
Q2 2024168
Q3 20241221
Q4 2024715
Q1 2025119

Biggest buyers

LAZARD ASSET MANAGEMENT LLC New +20,947,000+20.9m
UBS Group AG New +9,565,000+9.6m
MILLENNIUM MANAGEMENT LLC New +9,000,000+9.0m
Linden Advisors LP Added +2,500,000+2.5m
SSI INVESTMENT MANAGEMENT LLC New +2,417,000+2.4m
DeepCurrents Investment Group LLC Added +2,000,000+2.0m
Universal- Beteiligungs- und Servicegesellschaft mbH New +1,000,000+1.0m
JPMORGAN CHASE & CO Added +400,000+400.0k
OAKTREE CAPITAL MANAGEMENT LP Added +261,000+261.0k
LPL Financial LLC New +60,000+60.0k

Biggest sellers

DSC Meridian Capital LP Sold out -15,900,000-15.9m
Jefferies Financial Group Inc. Reduced -12,990,000-13.0m
KING STREET CAPITAL MANAGEMENT, L.P. Sold out -10,000,000-10.0m
BANK OF MONTREAL /CAN/ Sold out -9,800,000-9.8m
CITIGROUP INC Reduced -3,576,000-3.6m
GOLDMAN SACHS GROUP INC Sold out -1,000,000-1.0m
Russell Investments Group, Ltd. Reduced -806,000-806.0k
WHITEBOX ADVISORS LLC Reduced -257,000-257.0k
BANK OF AMERICA CORP /DE/ Reduced -160,000-160.0k

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 0.40% of their portfolio New York, NY 63,063,00063.1m $58.9m $58.9m 0.40% Added +2.5m +2,500,000
2 DeepCurrents Investment Group LLC 0.90% of their portfolio NEW YORK, NY 27,965,00028.0m $26.1m $26.1m 0.90% Added +2.0m +2,000,000
3 LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 20,947,00020.9m $19.6m $19.6m 0.03% New
4 BARINGS LLC 0.23% of their portfolio CHARLOTTE, NC 10,000,00010.0m $9.3m $9.3m 0.23% Unchanged
5 OAKTREE CAPITAL MANAGEMENT LP 0.19% of their portfolio LOS ANGELES, CA 9,763,0009.8m $9.1m $9.1m 0.19% Added +261.0k +261,000
6 UBS Group AG 0.00% of their portfolio ZURICH, V8 9,565,0009.6m $8.9m $8.9m 0.00% New
7 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 9,000,0009.0m $8.4m $8.4m 0.01% New
8 WHITEBOX ADVISORS LLC 0.23% of their portfolio MINNEAPOLIS, MN 7,604,0007.6m $7.1m $7.1m 0.23% Reduced -257.0k -257,000
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 5,800,0005.8m $5.4m $5.4m 0.00% Unchanged
10 Jefferies Financial Group Inc. 0.08% of their portfolio NEW YORK, NY 5,214,0005.2m $4.9m $4.9m 0.08% Reduced -13.0m -12,990,000
11 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 4,320,0004.3m $4.0m $4.0m 0.00% Unchanged
12 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 3,492,0003.5m $3.3m $3.3m 0.00% Reduced -806.0k -806,000
13 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,950,0003.0m $2.7m $2.7m 0.00% Unchanged
14 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 2,849,0002.8m $2.7m $2.7m 0.00% Added +400.0k +400,000
15 SSI INVESTMENT MANAGEMENT LLC 0.18% of their portfolio Los Angeles, CA 2,417,0002.4m $2.3m $2.3m 0.18% New
16 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,840,0001.8m $1.7m $1.7m 0.00% Reduced -160.0k -160,000
17 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,000,0001.0m $934.8k $934.8k 0.00% New
18 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 624,000624.0k $581.1k $581.1k 0.00% Reduced -3.6m -3,576,000
19 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% of their portfolio FRANKFURT AM MAIN, 2M 250,000250.0k $233.7k $233.7k 0.00% Unchanged
20 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 60,00060.0k $56.0k $56.0k 0.00% New
21 Context Capital Management, LLC 2.07% of their portfolio LAJOLLA, CA 57,05857.1k $53.4m $53.4m 2.07% Added +16.0k +16,000
22 IFG Advisory, LLC 0.00% of their portfolio ATLANTA, GA 20,00020.0k $18.7k $18.7k 0.00% Unchanged
23 K2 PRINCIPAL FUND, L.P. 1.42% of their portfolio TORONTO, A6 10,00010.0k $9.3m $9.3m 1.42% Unchanged
24 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged