Vault-13

VAREX IMAGING CORP VREX 4 06.01.25

NOTE 4.000% 6/0 · US DOMESTIC · CUSIP 92214XAB2

20 institutional holders -2 vs Q1 2023
9,000,0009.0m shares reported held*
$265.9mreported value*
2 new 6 added 6 reduced 4 sold out net bought ≈ $12.9m

* 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 ($2.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.86.

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0102030Q3 22: 20Q4 22: 19Q1 23: 22Q2 23: 2020Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202220
Q4 202219
Q1 202322
Q2 202320

Buyers vs sellers

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

Bought or addedCut or sold out
10010Q4 22: 8 bought or addedQ4 22: 7 cut or sold outQ4 22Q1 23: 9 bought or addedQ1 23: 9 cut or sold outQ1 23Q2 23: 8 bought or addedQ2 23: 10 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202287
Q1 202399
Q2 2023810

Biggest buyers

CAPSTONE INVESTMENT ADVISORS, LLC New +12,500,000+12.5m
DLD Asset Management, LP Added +11,500,000+11.5m
BANK OF AMERICA CORP /DE/ Added +9,500,000+9.5m
Man Group plc New +5,000,000+5.0m
ZAZOVE ASSOCIATES LLC Added +4,655,000+4.7m
BOOTHBAY FUND MANAGEMENT, LLC Added +3,898,000+3.9m
Opti Capital Management, LP Added +2,500,000+2.5m
Worth Venture Partners, LLC Added +1,837,000+1.8m

Biggest sellers

WOLVERINE ASSET MANAGEMENT LLC Sold out -26,214,000-26.2m
Polar Asset Management Partners Inc. Reduced -5,000,000-5.0m
LAZARD ASSET MANAGEMENT LLC Reduced -3,270,000-3.3m
AQR Arbitrage LLC Sold out -3,175,000-3.2m
WELLS FARGO & COMPANY/MN Sold out -1,500,000-1.5m
PALISADE CAPITAL MANAGEMENT, LP Reduced -718,000-718.0k
Jefferies Financial Group Inc. Reduced -552,000-552.0k
BANK OF MONTREAL /CAN/ Sold out -550,000-550.0k
FMR LLC Reduced -350,000-350.0k
Context Capital Management, LLC Reduced -5,326-5.3k

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.17% of their portfolio NEW YORK, NY 43,488,00043.5m $55.9m $55.9m 1.17% Unchanged
2 LAZARD ASSET MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 33,500,00033.5m $42.9m $42.9m 0.05% Reduced -3.3m -3,270,000
3 DLD Asset Management, LP 3.20% of their portfolio NEW YORK, NY 18,500,00018.5m $23.8m $23.8m 3.20% Added +11.5m +11,500,000
4 Opti Capital Management, LP 1.63% of their portfolio New York, NY 15,050,00015.1m $19.3m $19.3m 1.63% Added +2.5m +2,500,000
5 Polar Asset Management Partners Inc. 0.38% of their portfolio TORONTO, A6 15,000,00015.0m $19.2m $19.2m 0.38% Reduced -5.0m -5,000,000
6 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 13,500,00013.5m $17.2m $17.2m 0.00% Added +9.5m +9,500,000
7 CAPSTONE INVESTMENT ADVISORS, LLC 0.47% of their portfolio NEW YORK, NY 12,500,00012.5m $16.0m $16.0m 0.47% New
8 ZAZOVE ASSOCIATES LLC 1.44% of their portfolio INCLINE VILLAGE, NV 12,331,00012.3m $15.8m $15.8m 1.44% Added +4.7m +4,655,000
9 Black Creek Investment Management Inc. 0.44% of their portfolio TORONTO, A6 9,775,0009.8m $12.5m $12.5m 0.44% Unchanged
10 ABSOLUTE INVESTMENT ADVISERS, LLC 1.61% of their portfolio ROSEMARY BEACH, FL 9,000,0009.0m $11.4m $11.4m 1.61% Unchanged
11 DeepCurrents Investment Group LLC 0.38% of their portfolio NEW YORK, NY 7,000,0007.0m $9.0m $9.0m 0.38% Unchanged
12 BOOTHBAY FUND MANAGEMENT, LLC 0.27% of their portfolio NEW YORK, NY 6,845,0006.8m $8.8m $8.8m 0.27% Added +3.9m +3,898,000
13 Man Group plc 0.02% of their portfolio LONDON, X0 5,000,0005.0m $6.4m $6.4m 0.02% New
14 Worth Venture Partners, LLC 1.77% of their portfolio FORT LEE, NJ 2,516,0002.5m $3.2m $3.2m 1.77% Added +1.8m +1,837,000
15 PALISADE CAPITAL MANAGEMENT, LP 0.05% of their portfolio FORT LEE, NJ 1,362,0001.4m $1.7m $1.7m 0.05% Reduced -718.0k -718,000
16 FMR LLC 0.00% of their portfolio BOSTON, MA 350,000350.0k $446.5k $446.5k 0.00% Reduced -350.0k -350,000
17 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 152,000152.0k $193.6k $193.6k 0.00% Reduced -552.0k -552,000
18 Verition Fund Management LLC 0.04% of their portfolio GREENWICH, CT 2,2382.2k $2.9m $2.9m 0.04% Unchanged
19 Context Capital Management, LLC 0.20% of their portfolio LAJOLLA, CA 1,6891.7k $2.2m $2.2m 0.20% Reduced -5.3k -5,326
20 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged