Vault-13

VARONIS SYS INC VRNS 1.25 08.15.25

NOTE 1.250% 8/1 · US DOMESTIC · CUSIP 922280AB8

28 institutional holders +0 vs Q1 2024
7,923,0007.9m shares reported held*
$324.5mreported value*
5 new 6 added 6 reduced 5 sold out net sold ≈ $52.1m (+7.7m 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 ($16.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $42.98.

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 21Q4 22: 28Q1 23: 24Q2 23: 29Q3 23: 27Q4 23: 32Q1 24: 28Q2 24: 2828Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202221
Q4 202228
Q1 202324
Q2 202329
Q3 202327
Q4 202332
Q1 202428
Q2 202428

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 22: 14 bought or addedQ4 22: 12 cut or sold outQ4 22Q1 23: 11 bought or addedQ1 23: 16 cut or sold outQ2 23: 10 bought or addedQ2 23: 8 cut or sold outQ2 23Q3 23: 9 bought or addedQ3 23: 7 cut or sold outQ4 23: 15 bought or addedQ4 23: 12 cut or sold outQ4 23Q1 24: 10 bought or addedQ1 24: 19 cut or sold outQ2 24: 11 bought or addedQ2 24: 11 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20221412
Q1 20231116
Q2 2023108
Q3 202397
Q4 20231512
Q1 20241019
Q2 20241111

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +16,000,000+16.0m
DeepCurrents Investment Group LLC Added +14,750,000+14.8m
BOOTHBAY FUND MANAGEMENT, LLC New +6,793,000+6.8m
JANE STREET GROUP, LLC New +5,873,000+5.9m
Verition Fund Management LLC Added +4,093,000+4.1m
Balyasny Asset Management L.P. New +3,500,000+3.5m
MIZUHO SECURITIES USA LLC New +1,500,000+1.5m
Bank of New York Mellon Corp Added +350,000+350.0k
BANK OF AMERICA CORP /DE/ Added +300,000+300.0k
Calamos Advisors LLC Added +20,000+20.0k

Biggest sellers

Linden Advisors LP Sold out -56,653,000-56.7m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sold out -13,000,000-13.0m
FMR LLC Reduced -10,790,000-10.8m
Radcliffe Capital Management, L.P. Sold out -2,500,000-2.5m
CAPSTONE INVESTMENT ADVISORS, LLC Reduced -1,500,000-1.5m
JPMORGAN CHASE & CO Reduced -456,000-456.0k
ROYAL BANK OF CANADA Sold out -325,000-325.0k
SSI INVESTMENT MANAGEMENT LLC Reduced -44,000-44.0k
SHENKMAN CAPITAL MANAGEMENT INC Reduced -36,000-36.0k
FIRST HAWAIIAN BANK Reduced -19,000-19.0k

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.27% of their portfolio NEW YORK, NY 50,150,00050.1m $80.8m $80.8m 1.27% Unchanged
2 MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 37,370,00037.4m $60.4m $60.4m 0.05% Added +16.0m +16,000,000
3 DeepCurrents Investment Group LLC 2.13% of their portfolio NEW YORK, NY 32,750,00032.8m $52.9m $52.9m 2.13% Added +14.8m +14,750,000
4 CAPSTONE INVESTMENT ADVISORS, LLC 0.97% of their portfolio NEW YORK, NY 27,273,00027.3m $44.4m $44.4m 0.97% Reduced -1.5m -1,500,000
5 VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio ATLANTA, GA 10,000,00010.0m $16.3m $16.3m 0.02% Unchanged
6 Verition Fund Management LLC 0.12% of their portfolio GREENWICH, CT 9,848,0009.8m $16.0m $16.0m 0.12% Added +4.1m +4,093,000
7 BOOTHBAY FUND MANAGEMENT, LLC 0.34% of their portfolio NEW YORK, NY 6,793,0006.8m $11.1m $11.1m 0.34% New
8 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 5,873,0005.9m $9.1m $9.1m 0.01% New
9 FMR LLC 0.00% of their portfolio BOSTON, MA 5,034,0005.0m $8.2m $8.2m 0.00% Reduced -10.8m -10,790,000
10 Aequim Alternative Investments LP 0.30% of their portfolio MILL VALLEY, CA 5,000,0005.0m $8.1m $8.1m 0.30% Unchanged
11 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 4,472,0004.5m $6.7m $6.7m 0.00% Reduced -456.0k -456,000
12 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 3,500,0003.5m $5.7m $5.7m 0.01% New
13 Calamos Advisors LLC 0.02% of their portfolio NAPERVILLE, IL 3,060,0003.1m $4.9m $4.9m 0.02% Added +20.0k +20,000
14 SSI INVESTMENT MANAGEMENT LLC 0.32% of their portfolio Los Angeles, CA 2,598,0002.6m $4.2m $4.2m 0.32% Reduced -44.0k -44,000
15 BlackRock Inc. 0.00% of their portfolio New York, NY 2,191,0002.2m $3.6m $3.6m 0.00% Unchanged
16 MIZUHO SECURITIES USA LLC 0.05% of their portfolio NEW YORK, NY 1,500,0001.5m $2.4m $2.4m 0.05% New
17 SHENKMAN CAPITAL MANAGEMENT INC 0.15% of their portfolio NEW YORK, NY 1,035,0001.0m $1.7m $1.7m 0.15% Reduced -36.0k -36,000
18 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 894,000894.0k $1.5m $1.5m 0.04% Unchanged
19 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 550,000550.0k $822.1k $822.1k 0.00% Added +350.0k +350,000
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 469,000469.0k $760.7k $760.7k 0.00% Added +300.0k +300,000
21 GROUPAMA ASSET MANAGMENT 0.01% of their portfolio PARIS, I0 350,000350.0k $564.8k $564.8k 0.01% Unchanged
22 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 200,000200.0k $325.4k $325.4k 0.00% Unchanged
23 Central Pacific Bank - Trust Division 0.03% of their portfolio HONOLULU, HI 141,000141.0k $228.7k $228.7k 0.03% Unchanged
24 FIRST HAWAIIAN BANK 0.00% of their portfolio HONOLULU, HI 36,00036.0k $58.4k $58.4k 0.00% Reduced -19.0k -19,000
25 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 24,00024.0k $39.1k $39.1k 0.00% Unchanged
26 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 19,00019.0k $30.8k $30.8k 0.00% Unchanged
27 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 18,00018.0k $28.8k $28.8k 0.00% New
28 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged