Vault-13

VERTEX INC VERX 0.75 05.01.29

NOTE 0.750% 5/0 · US DOMESTIC · CUSIP 92538JAB2

38 institutional holders -2 vs Q2 2025
10,901,00010.9m shares reported held*
$360.8mreported value*
8 new 14 added 4 reduced 9 sold out net bought ≈ $24.7m (+3.5m 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. Holder counts are more reliable. Implied quarter-end price ≈ $33.10.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

02040Q2 25: 40Q3 25: 3838Q2 25Q3 25
Numbers
QuarterHolders
Q2 202540
Q3 202538

Biggest buyers

Linden Advisors LP New +28,700,000+28.7m
ADVENT CAPITAL MANAGEMENT /DE/ Added +25,887,000+25.9m
Nuveen, LLC New +16,000,000+16.0m
Jump Financial, LLC New +8,500,000+8.5m
OAKTREE CAPITAL MANAGEMENT LP New +7,250,000+7.2m
HBK INVESTMENTS L P Added +5,000,000+5.0m
READYSTATE ASSET MANAGEMENT LP Added +5,000,000+5.0m
Point72 Asset Management, L.P. New +5,000,000+5.0m
NEW YORK STATE COMMON RETIREMENT FUND New +3,722,000+3.7m
AMERIPRISE FINANCIAL INC Added +3,000,000+3.0m

Biggest sellers

Alberta Investment Management Corp Sold out -30,000,000-30.0m
LAZARD ASSET MANAGEMENT LLC Reduced -22,776,000-22.8m
BlackRock, Inc. Reduced -15,775,000-15.8m
DLD Asset Management, LP Sold out -8,500,000-8.5m
BARCLAYS PLC Sold out -3,916,000-3.9m
BNP PARIBAS FINANCIAL MARKETS Sold out -3,400,000-3.4m
MORGAN STANLEY Sold out -3,296,000-3.3m
TORONTO DOMINION BANK Sold out -2,500,000-2.5m
Invesco Ltd. Sold out -1,750,000-1.8m
Jefferies Financial Group Inc. Reduced -1,609,000-1.6m

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 WOLVERINE ASSET MANAGEMENT LLC 0.75% of their portfolio CHICAGO, IL 50,690,00050.7m $51.7m $51.7m 0.75% Unchanged
2 CITADEL ADVISORS LLC 0.03% of their portfolio MIAMI, FL 34,274,00034.3m $34.9m $34.9m 0.03% Added +2.5m +2,500,000
3 ADVENT CAPITAL MANAGEMENT /DE/ 0.70% of their portfolio NEW YORK, NY 30,556,00030.6m $31.2m $31.2m 0.70% Added +25.9m +25,887,000
4 Linden Advisors LP 0.19% of their portfolio New York, NY 28,700,00028.7m $29.2m $29.2m 0.19% New
5 MacKay Shields LLC 0.64% of their portfolio New York, NY 18,323,00018.3m $18.7m $18.7m 0.64% Unchanged
6 READYSTATE ASSET MANAGEMENT LP 0.89% of their portfolio CHICAGO, IL 18,000,00018.0m $18.4m $18.4m 0.89% Added +5.0m +5,000,000
7 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 16,000,00016.0m $16.3m $16.3m 0.00% New
8 HBK INVESTMENTS L P 0.23% of their portfolio DALLAS, TX 15,000,00015.0m $15.3m $15.3m 0.23% Added +5.0m +5,000,000
9 Polar Asset Management Partners Inc. 0.31% of their portfolio TORONTO, A6 15,000,00015.0m $15.3m $15.3m 0.31% Unchanged
10 ZAZOVE ASSOCIATES LLC 1.22% of their portfolio INCLINE VILLAGE, NV 13,155,00013.2m $13.4m $13.4m 1.22% Added +55.0k +55,000
11 M&G PLC 0.07% of their portfolio London, X0 12,085,00012.1m $13.1m $13.1m 0.07% Unchanged
12 Aequim Alternative Investments LP 0.27% of their portfolio MILL VALLEY, CA 12,000,00012.0m $12.2m $12.2m 0.27% Added +2.0m +2,000,000
13 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 9,000,0009.0m $9.1m $9.1m 0.00% Added +3.0m +3,000,000
14 SHENKMAN CAPITAL MANAGEMENT INC 0.91% of their portfolio NEW YORK, NY 8,935,0008.9m $9.3m $9.3m 0.91% Added +1.5m +1,474,000
15 Jump Financial, LLC 0.11% of their portfolio Chicago, IL 8,500,0008.5m $8.7m $8.7m 0.11% New
16 OAKTREE CAPITAL MANAGEMENT LP 0.12% of their portfolio LOS ANGELES, CA 7,250,0007.2m $7.4m $7.4m 0.12% New
17 ABSOLUTE INVESTMENT ADVISERS, LLC 0.89% of their portfolio ROSEMARY BEACH, FL 7,020,0007.0m $7.1m $7.1m 0.89% Unchanged
18 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 5,812,0005.8m $5.9m $5.9m 0.00% Added +2.9m +2,921,000
19 GABELLI FUNDS LLC 0.04% of their portfolio Rye, NY 5,300,0005.3m $5.4m $5.4m 0.04% Added +200.0k +200,000
20 Calamos Advisors LLC 0.02% of their portfolio NAPERVILLE, IL 5,000,0005.0m $5.1m $5.1m 0.02% Unchanged
21 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 5,000,0005.0m $5.1m $5.1m 0.01% New
22 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 4,768,0004.8m $4.9m $4.9m 0.00% Unchanged
23 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 4,720,0004.7m $4.8m $4.8m 0.00% Unchanged
24 FMR LLC 0.00% of their portfolio BOSTON, MA 3,968,0004.0m $4.0m $4.0m 0.00% Reduced -215.0k -215,000
25 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 3,722,0003.7m $3.8m $3.8m 0.00% New
26 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,425,0003.4m $3.5m $3.5m 0.00% Reduced -15.8m -15,775,000
27 Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio FRANKFURT AM MAIN, 2M 3,050,0003.0m $3.1m $3.1m 0.01% Added +500.0k +500,000
28 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,889,0001.9m $1.9m $1.9m 0.00% Added +798.0k +798,000
29 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 1,635,0001.6m $16.7k $16.7k 0.00% Reduced -22.8m -22,776,000
30 PALISADE CAPITAL MANAGEMENT, LP 0.04% of their portfolio FORT LEE, NJ 1,500,0001.5m $1.5m $1.5m 0.04% Added +500.0k +500,000
31 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 250,000250.0k $255.1k $255.1k 0.00% Unchanged
32 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 159,000159.0k $161.6k $161.6k 0.00% Unchanged
33 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 69,00069.0k $70.1k $70.1k 0.00% Reduced -1.6m -1,609,000
34 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 27,00027.0k $27.4k $27.4k 0.00% Unchanged
35 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 23,00023.0k $23.4k $23.4k 0.00% Unchanged
36 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 16,00016.0k $16.3k $16.3k 0.00% New
37 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,00011.0k $11.2k $11.2k 0.00% New
38 Alken Asset Management Ltd 0.03% of their portfolio LONDON, X0 1,6001.6k $1.6k $1.6k 0.03% Added +400 +400