Vault-13

VERINT SYSTEMS INC VRNT 0.25 04.15.26

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

25 institutional holders -4 vs Q2 2025
12,060,00012.1m shares reported held*
$307.2mreported value*
7 new 3 added 6 reduced 10 sold out net bought ≈ $10.5m (-2.0m 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 ($14.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $26.69.

Trends to Q3 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: 29Q3 25: 2525Q3 22Q2 23Q1 24Q4 24Q3 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
Q3 202525

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 23: 14 bought or addedQ4 23: 14 cut or sold outQ1 24: 15 bought or addedQ1 24: 10 cut or sold outQ1 24Q2 24: 13 bought or addedQ2 24: 13 cut or sold outQ3 24: 8 bought or addedQ3 24: 12 cut or sold outQ3 24Q4 24: 8 bought or addedQ4 24: 9 cut or sold outQ1 25: 8 bought or addedQ1 25: 17 cut or sold outQ1 25Q2 25: 17 bought or addedQ2 25: 7 cut or sold outQ3 25: 10 bought or addedQ3 25: 16 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20231414
Q1 20241510
Q2 20241313
Q3 2024812
Q4 202489
Q1 2025817
Q2 2025177
Q3 20251016

Biggest buyers

GLAZER CAPITAL, LLC New +25,701,000+25.7m
Polar Asset Management Partners Inc. New +18,500,000+18.5m
Crossingbridge Advisors, LLC New +14,975,000+15.0m
RiverPark Advisors, LLC New +14,975,000+15.0m
Calamos Advisors LLC New +9,966,000+10.0m
Lynrock Lake LP Added +8,000,000+8.0m
WELLS FARGO & COMPANY/MN New +5,500,000+5.5m
ROYAL BANK OF CANADA Added +1,802,000+1.8m
Thrivent Financial for Lutherans Added +85,000+85.0k
K2 PRINCIPAL FUND, L.P. New +7,250+7.2k

Biggest sellers

DeepCurrents Investment Group LLC Sold out -34,905,000-34.9m
LAZARD ASSET MANAGEMENT LLC Sold out -16,051,000-16.1m
KIM, LLC Sold out -7,000,000-7.0m
Daiwa Securities Group Inc. Reduced -5,000,000-5.0m
MILLENNIUM MANAGEMENT LLC Reduced -5,000,000-5.0m
Radcliffe Capital Management, L.P. Sold out -3,801,000-3.8m
OAKTREE CAPITAL MANAGEMENT LP Reduced -3,209,000-3.2m
TORONTO DOMINION BANK Sold out -3,000,000-3.0m
SSI INVESTMENT MANAGEMENT LLC Sold out -2,625,000-2.6m
WELLINGTON MANAGEMENT GROUP LLP Sold out -2,445,000-2.4m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TENOR CAPITAL MANAGEMENT Co., L.P. 1.06% of their portfolio NEW YORK, NY 82,309,00082.3m $81.1m $81.1m 1.06% Unchanged
2 Hudson Bay Capital Management LP 0.26% of their portfolio STAMFORD, CT 42,913,00042.9m $42.2m $42.2m 0.26% Unchanged
3 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 35,403,00035.4m $34.8m $34.8m 0.03% Unchanged
4 GLAZER CAPITAL, LLC 0.85% of their portfolio New York, NY 25,701,00025.7m $25.2m $25.2m 0.85% New
5 Lynrock Lake LP 1.58% of their portfolio RYE BROOK, NY 20,000,00020.0m $19.6m $19.6m 1.58% Added +8.0m +8,000,000
6 Polar Asset Management Partners Inc. 0.37% of their portfolio TORONTO, A6 18,500,00018.5m $18.1m $18.1m 0.37% New
7 RiverPark Advisors, LLC 6.36% of their portfolio NEW YORK, NY 14,975,00015.0m $14.7m $14.7m 6.36% New
8 Crossingbridge Advisors, LLC 7.53% of their portfolio PLEASANTVILLE, NY 14,975,00015.0m $14.7m $14.7m 7.53% New
9 Calamos Advisors LLC 0.04% of their portfolio NAPERVILLE, IL 9,966,00010.0m $9.8m $9.8m 0.04% New
10 ABSOLUTE INVESTMENT ADVISERS, LLC 0.98% of their portfolio ROSEMARY BEACH, FL 8,000,0008.0m $7.8m $7.8m 0.98% Reduced -1.5m -1,500,000
11 Thrivent Financial for Lutherans 0.02% of their portfolio Minneapolis, MN 7,847,0007.8m $7.7m $7.7m 0.02% Added +85.0k +85,000
12 PALISADE CAPITAL MANAGEMENT, LP 0.17% of their portfolio FORT LEE, NJ 6,370,0006.4m $6.2m $6.2m 0.17% Unchanged
13 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,500,0005.5m $5.4m $5.4m 0.00% New
14 OAKTREE CAPITAL MANAGEMENT LP 0.08% of their portfolio LOS ANGELES, CA 4,626,0004.6m $4.5m $4.5m 0.08% Reduced -3.2m -3,209,000
15 Sonora Investment Management Group, LLC 0.28% of their portfolio TUCSON, AZ 4,060,0004.1m $4.0m $4.0m 0.28% Reduced -100.0k -100,000
16 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,746,0003.7m $3.7m $3.7m 0.00% Added +1.8m +1,802,000
17 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,060,0003.1m $3.0m $3.0m 0.00% Unchanged
18 WATER ISLAND CAPITAL LLC 0.42% of their portfolio NEW YORK, NY 3,000,0003.0m $2.9m $2.9m 0.42% 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 Daiwa Securities Group Inc. 0.01% of their portfolio CHIYODA-KU,TOKYO, M0 2,500,0002.5m $2.5m $2.5m 0.01% Reduced -5.0m -5,000,000
21 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 2,000,0002.0m $2.0m $2.0m 0.00% Reduced -5.0m -5,000,000
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,000,0001.0m $977.5k $977.5k 0.00% Reduced -1.6m -1,550,000
23 PROSPECTOR PARTNERS LLC 0.12% of their portfolio GUILFORD, CT 1,000,0001.0m $977.5k $977.5k 0.12% Unchanged
24 SHENKMAN CAPITAL MANAGEMENT INC 0.02% of their portfolio NEW YORK, NY 182,000182.0k $178.8k $178.8k 0.02% Unchanged
25 K2 PRINCIPAL FUND, L.P. 0.75% of their portfolio TORONTO, A6 7,2507.2k $7.1m $7.1m 0.75% New