Vault-13

WAYFAIR INC W 3.25 09.15.27

NOTE 3.250% 9/1 · US DOMESTIC · CUSIP 94419LAP6

39 institutional holders -11 vs Q3 2025
14,761,00014.8m shares reported held*
$656.1mreported value*
7 new 3 added 19 reduced 17 sold out net sold ≈ $476.2m (+1.6m 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 ≈ $44.45.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 23: 50Q4 23: 58Q1 24: 56Q2 24: 61Q3 24: 67Q4 24: 64Q1 25: 56Q2 25: 57Q3 25: 50Q4 25: 3939Q3 23Q1 24Q3 24Q1 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 202350
Q4 202358
Q1 202456
Q2 202461
Q3 202467
Q4 202464
Q1 202556
Q2 202557
Q3 202550
Q4 202539

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q1 24: 30 bought or addedQ1 24: 27 cut or sold outQ2 24: 30 bought or addedQ2 24: 24 cut or sold outQ2 24Q3 24: 35 bought or addedQ3 24: 23 cut or sold outQ4 24: 28 bought or addedQ4 24: 31 cut or sold outQ4 24Q1 25: 24 bought or addedQ1 25: 33 cut or sold outQ2 25: 23 bought or addedQ2 25: 24 cut or sold outQ2 25Q3 25: 24 bought or addedQ3 25: 28 cut or sold outQ4 25: 10 bought or addedQ4 25: 36 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20243027
Q2 20243024
Q3 20243523
Q4 20242831
Q1 20252433
Q2 20252324
Q3 20252428
Q4 20251036

Biggest buyers

LAZARD ASSET MANAGEMENT LLC Added +61,891,000+61.9m
DeepCurrents Investment Group LLC New +34,715,000+34.7m
Nuveen, LLC New +20,000,000+20.0m
Balyasny Asset Management L.P. New +18,350,000+18.4m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +1,750,000+1.8m
Jefferies Financial Group Inc. New +75,000+75.0k
NewEdge Advisors, LLC New +14,000+14.0k
Calamos Advisors LLC Added +12,000+12.0k
UBS Group AG Added +6,000+6.0k
WELLS FARGO & COMPANY/MN New +5,000+5.0k

Biggest sellers

BNP PARIBAS FINANCIAL MARKETS Reduced -86,033,000-86.0m
D. E. Shaw & Co., Inc. Reduced -69,400,000-69.4m
JPMORGAN CHASE & CO Reduced -34,054,000-34.1m
MILLENNIUM MANAGEMENT LLC Sold out -33,553,000-33.6m
HBK INVESTMENTS L P Reduced -33,125,000-33.1m
Linden Advisors LP Reduced -26,040,000-26.0m
VOYA INVESTMENT MANAGEMENT LLC Reduced -20,065,000-20.1m
FRANKLIN RESOURCES INC Reduced -11,086,000-11.1m
BANK OF AMERICA CORP /DE/ Reduced -8,094,000-8.1m
GOLDMAN SACHS GROUP INC Reduced -7,407,000-7.4m

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VOYA INVESTMENT MANAGEMENT LLC 0.20% of their portfolio ATLANTA, GA 122,455,000122.5m $204.0m $204.0m 0.20% Reduced -20.1m -20,065,000
2 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 92,235,00092.2m $1.5m $1.5m 0.00% Added +61.9m +61,891,000
3 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 56,775,00056.8m $94.6m $94.6m 0.02% Reduced -11.1m -11,086,000
4 DeepCurrents Investment Group LLC 2.16% of their portfolio NEW YORK, NY 34,715,00034.7m $58.0m $58.0m 2.16% New
5 Calamos Advisors LLC 0.18% of their portfolio NAPERVILLE, IL 25,617,00025.6m $42.9m $42.9m 0.18% Added +12.0k +12,000
6 Linden Advisors LP 0.21% of their portfolio New York, NY 20,327,00020.3m $34.0m $34.0m 0.21% Reduced -26.0m -26,040,000
7 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 20,000,00020.0m $33.3m $33.3m 0.01% New
8 Balyasny Asset Management L.P. 0.06% of their portfolio Chicago, IL 18,350,00018.4m $30.7m $30.7m 0.06% New
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 16,552,00016.6m $27.6m $27.6m 0.00% Reduced -34.1m -34,054,000
10 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 11,620,00011.6m $19.3m $19.3m 0.01% Reduced -86.0m -86,033,000
11 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 10,629,00010.6m $17.9m $17.9m 0.00% Reduced -3.2m -3,225,000
12 ABSOLUTE INVESTMENT ADVISERS, LLC 1.85% of their portfolio ROSEMARY BEACH, FL 9,732,0009.7m $16.2m $16.2m 1.85% Unchanged
13 LORD, ABBETT & CO. LLC 0.04% of their portfolio JERSEY CITY, NJ 7,929,0007.9m $13.2m $13.2m 0.04% Reduced -56.0k -56,000
14 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,175,0006.2m $10.3m $10.3m 0.00% Reduced -500.0k -500,000
15 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 5,789,0005.8m $9.6m $9.6m 0.01% Reduced -69.4m -69,400,000
16 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 5,374,6005.4m $8.9m $8.9m 0.00% Reduced -8.1m -8,094,000
17 SSI INVESTMENT MANAGEMENT LLC 0.55% of their portfolio Los Angeles, CA 4,878,0004.9m $8.1m $8.1m 0.55% Reduced -3.0m -3,043,000
18 HBK INVESTMENTS L P 0.08% of their portfolio DALLAS, TX 4,375,0004.4m $7.3m $7.3m 0.08% Reduced -33.1m -33,125,000
19 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $5.0m $5.0m 0.01% Unchanged
20 Sycale Advisors (NY) LLC 1.60% of their portfolio New York, NY 2,750,0002.8m $4.6m $4.6m 1.60% Unchanged
21 FMR LLC 0.00% of their portfolio BOSTON, MA 1,813,0001.8m $3.0m $3.0m 0.00% Unchanged
22 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 1,750,0001.8m $2.9m $2.9m 0.00% New
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 310,000310.0k $515.8k $515.8k 0.00% Reduced -2.1m -2,083,000
24 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 263,000263.0k $437.8k $437.8k 0.00% Reduced -137.0k -137,000
25 Central Pacific Bank - Trust Division 0.05% of their portfolio HONOLULU, HI 250,000250.0k $415.9k $415.9k 0.05% Reduced -174.0k -174,000
26 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 237,000237.0k $399.1k $399.1k 0.00% Reduced -2.3m -2,267,000
27 DNCA FINANCE 0.01% of their portfolio PARIS, I0 150,000150.0k $254.7k $254.7k 0.01% Reduced -170.0k -170,000
28 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 150,000150.0k $252.3k $252.3k 0.00% Unchanged
29 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 141,000141.0k $234.6k $234.6k 0.00% Reduced -504.0k -504,000
30 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 104,000104.0k $189.2k $189.2k 0.00% Unchanged
31 Ares Systematic Credit Ltd 0.14% of their portfolio LONDON, X0 100,000100.0k $167.6k $167.6k 0.14% First filing
32 Jefferies Financial Group Inc. 0.00% of their portfolio NEW YORK, NY 75,00075.0k $124.7k $124.7k 0.00% New
33 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 33,00033.0k $54.9k $54.9k 0.00% Reduced -7.4m -7,407,000
34 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 14,00014.0k $23.3k $23.3k 0.00% New
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 7,0007.0k $11.6k $11.6k 0.00% Added +6.0k +6,000
36 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 5,0005.0k $8.3k $8.3k 0.00% New
37 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,0003.0k $5.0k $5.0k 0.00% Unchanged
38 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 1,0001.0k $1.7k $1.7k 0.00% Unchanged
39 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $1.7k $1.7k 0.00% Unchanged