Vault-13

VERINT SYSTEMS INC VRNT 0.25 04.15.26

NOTE 0.250% 4/1 · US DOMESTIC · CUSIP 92343XAC4

29 institutional holders +7 vs Q1 2025
14,040,00014.0m shares reported held*
$296.0mreported value*
10 new 7 added 4 reduced 3 sold out net bought ≈ $2.5m (+1.3m 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 ($897.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $21.15.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 41Q4 22: 43Q1 23: 40Q2 23: 40Q3 23: 36Q4 23: 34Q1 24: 36Q2 24: 29Q3 24: 29Q4 24: 28Q1 25: 22Q2 25: 2929Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202241
Q4 202243
Q1 202340
Q2 202340
Q3 202336
Q4 202334
Q1 202436
Q2 202429
Q3 202429
Q4 202428
Q1 202522
Q2 202529

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q3 23: 13 bought or addedQ3 23: 17 cut or sold outQ4 23: 14 bought or addedQ4 23: 14 cut or sold outQ4 23Q1 24: 15 bought or addedQ1 24: 10 cut or sold outQ2 24: 13 bought or addedQ2 24: 13 cut or sold outQ2 24Q3 24: 8 bought or addedQ3 24: 12 cut or sold outQ4 24: 8 bought or addedQ4 24: 9 cut or sold outQ4 24Q1 25: 8 bought or addedQ1 25: 17 cut or sold outQ2 25: 17 bought or addedQ2 25: 7 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231317
Q4 20231414
Q1 20241510
Q2 20241313
Q3 2024812
Q4 202489
Q1 2025817
Q2 2025177

Biggest buyers

TENOR CAPITAL MANAGEMENT Co., L.P. Added +23,000,000+23.0m
Lynrock Lake LP New +12,000,000+12.0m
OAKTREE CAPITAL MANAGEMENT LP New +7,835,000+7.8m
Daiwa Securities Group Inc. New +7,500,000+7.5m
KIM, LLC New +7,000,000+7.0m
DeepCurrents Investment Group LLC Added +5,000,000+5.0m
Radcliffe Capital Management, L.P. New +3,801,000+3.8m
TORONTO DOMINION BANK New +3,000,000+3.0m
BANK OF AMERICA CORP /DE/ New +2,550,000+2.5m
WELLINGTON MANAGEMENT GROUP LLP New +2,445,000+2.4m

Biggest sellers

Linden Advisors LP Sold out -64,991,000-65.0m
MILLENNIUM MANAGEMENT LLC Reduced -5,500,000-5.5m
D. E. Shaw & Co., Inc. Reduced -4,000,000-4.0m
MACQUARIE GROUP LTD Sold out -2,763,000-2.8m
BlackRock, Inc. Reduced -275,000-275.0k
CITIGROUP INC Sold out -248,000-248.0k
Sonora Investment Management Group, LLC Reduced -50,000-50.0k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.07% of their portfolio NEW YORK, NY 82,309,00082.3m $79.1m $79.1m 1.07% Added +23.0m +23,000,000
2 Hudson Bay Capital Management LP 0.27% of their portfolio STAMFORD, CT 42,913,00042.9m $41.1m $41.1m 0.27% Unchanged
3 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 35,403,00035.4m $33.9m $33.9m 0.03% Reduced -4.0m -4,000,000
4 DeepCurrents Investment Group LLC 1.22% of their portfolio NEW YORK, NY 34,905,00034.9m $33.3m $33.3m 1.22% Added +5.0m +5,000,000
5 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 16,051,00016.1m $15.4m $15.4m 0.02% Added +881.0k +881,000
6 Lynrock Lake LP 1.02% of their portfolio RYE BROOK, NY 12,000,00012.0m $11.5m $11.5m 1.02% New
7 ABSOLUTE INVESTMENT ADVISERS, LLC 1.12% of their portfolio ROSEMARY BEACH, FL 9,500,0009.5m $9.1m $9.1m 1.12% Added +977.0k +977,000
8 OAKTREE CAPITAL MANAGEMENT LP 0.15% of their portfolio LOS ANGELES, CA 7,835,0007.8m $7.5m $7.5m 0.15% New
9 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 7,762,0007.8m $7.4m $7.4m 0.02% Unchanged
10 Daiwa Securities Group Inc. 0.03% of their portfolio CHIYODA-KU,TOKYO, M0 7,500,0007.5m $7.2m $7.2m 0.03% New
11 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 7,000,0007.0m $6.7m $6.7m 0.01% Reduced -5.5m -5,500,000
12 KIM, LLC 0.70% of their portfolio WICHITA, KS 7,000,0007.0m $6.7m $6.7m 0.70% New
13 PALISADE CAPITAL MANAGEMENT, LP 0.17% of their portfolio FORT LEE, NJ 6,370,0006.4m $6.1m $6.1m 0.17% Added +1.0m +1,000,000
14 Sonora Investment Management Group, LLC 0.30% of their portfolio TUCSON, AZ 4,160,0004.2m $4.0m $4.0m 0.30% Reduced -50.0k -50,000
15 Radcliffe Capital Management, L.P. 0.28% of their portfolio BALA CYNWYD, PA 3,801,0003.8m $3.6m $3.6m 0.28% New
16 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,060,0003.1m $2.9m $2.9m 0.00% Reduced -275.0k -275,000
17 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 3,000,0003.0m $2.8m $2.8m 0.01% New
18 WATER ISLAND CAPITAL LLC 0.50% of their portfolio NEW YORK, NY 3,000,0003.0m $2.9m $2.9m 0.50% Unchanged
19 CAPSTONE INVESTMENT ADVISORS, LLC 0.02% of their portfolio NEW YORK, NY 2,800,0002.8m $2.7m $2.7m 0.02% Unchanged
20 SSI INVESTMENT MANAGEMENT LLC 0.18% of their portfolio Los Angeles, CA 2,625,0002.6m $2.5m $2.5m 0.18% Unchanged
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 2,550,0002.5m $2.4m $2.4m 0.00% New
22 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 2,445,0002.4m $2.3m $2.3m 0.00% New
23 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 2,124,0002.1m $2.0m $2.0m 0.00% New
24 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,944,0001.9m $1.9m $1.9m 0.00% Added +972.0k +972,000
25 PROSPECTOR PARTNERS LLC 0.11% of their portfolio GUILFORD, CT 1,000,0001.0m $956.5k $956.5k 0.11% Unchanged
26 COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.00% of their portfolio HARRISBURG, PA 380,000380.0k $363.5k $363.5k 0.00% New
27 SHENKMAN CAPITAL MANAGEMENT INC 0.02% of their portfolio NEW YORK, NY 182,000182.0k $177.2k $177.2k 0.02% Added +13.0k +13,000
28 VIRTUS ADVISERS, LLC 0.04% of their portfolio HARTFORD, CT 73,00073.0k $69.8k $69.8k 0.04% Unchanged
29 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged