Vault-13

ZSCALER INC ZS 0.125 07.01.25

NOTE 0.125% 7/0 · US DOMESTIC · CUSIP 98980GAB8

83 institutional holders +6 vs Q4 2022
43,260,20143.3m shares reported held*
$1.2bnreported value*
15 new 31 added 18 reduced 10 sold out net bought ≈ $56.4m (+15.9m 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 ($15.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $27.12.

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 68Q4 22: 77Q1 23: 8383Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 202268
Q4 202277
Q1 202383

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q4 22: 40 bought or addedQ4 22: 29 cut or sold outQ4 22Q1 23: 46 bought or addedQ1 23: 28 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20224029
Q1 20234628

Biggest buyers

LAZARD ASSET MANAGEMENT LLC Added +38,000,000+38.0m
FMR LLC Added +17,035,000+17.0m
DEUTSCHE BANK AG\ Added +13,596,000+13.6m
Walleye Capital LLC New +13,500,000+13.5m
BANK OF NOVA SCOTIA New +10,506,000+10.5m
MOORE CAPITAL MANAGEMENT, LP New +10,000,000+10.0m
AVIVA PLC New +5,000,000+5.0m
WOLVERINE ASSET MANAGEMENT LLC Added +4,796,000+4.8m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Added +4,250,000+4.2m
TENOR CAPITAL MANAGEMENT Co., L.P. Added +3,500,000+3.5m

Biggest sellers

Verition Fund Management LLC Reduced -29,096,152-29.1m
D. E. Shaw & Co., Inc. Reduced -26,150,000-26.1m
Balyasny Asset Management L.P. Sold out -13,976,000-14.0m
WHITEBOX ADVISORS LLC Reduced -13,650,000-13.7m
STEELHEAD PARTNERS LLC Reduced -12,500,000-12.5m
CITADEL ADVISORS LLC Sold out -8,000,000-8.0m
Calamos Advisors LLC Reduced -7,481,000-7.5m
Segantii Capital Management Ltd Reduced -5,000,000-5.0m
STATE STREET CORP Reduced -4,875,000-4.9m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -4,289,000-4.3m

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 D. E. Shaw & Co., Inc. 0.23% of their portfolio New York, NY 133,567,000133.6m $141.2m $141.2m 0.23% Reduced -26.1m -26,150,000
2 LAZARD ASSET MANAGEMENT LLC 0.15% of their portfolio NEW YORK, NY 106,509,000106.5m $112.8m $112.8m 0.15% Added +38.0m +38,000,000
3 VOYA INVESTMENT MANAGEMENT LLC 0.11% of their portfolio ATLANTA, GA 99,125,00099.1m $105.0m $105.0m 0.11% Added +3.0m +3,000,000
4 DeepCurrents Investment Group LLC 2.41% of their portfolio NEW YORK, NY 52,918,00052.9m $55.9m $55.9m 2.41% Unchanged
5 Calamos Advisors LLC 0.23% of their portfolio NAPERVILLE, IL 43,709,00043.7m $46.1m $46.1m 0.23% Reduced -7.5m -7,481,000
6 TENOR CAPITAL MANAGEMENT Co., L.P. 0.74% of their portfolio NEW YORK, NY 35,000,00035.0m $37.1m $37.1m 0.74% Added +3.5m +3,500,000
7 FMR LLC 0.00% of their portfolio BOSTON, MA 34,070,00034.1m $35.9m $35.9m 0.00% Added +17.0m +17,035,000
8 Hudson Bay Capital Management LP 0.21% of their portfolio STAMFORD, CT 33,186,00033.2m $35.1m $35.1m 0.21% Unchanged
9 ADVENT CAPITAL MANAGEMENT /DE/ 0.66% of their portfolio NEW YORK, NY 32,501,00032.5m $34.4m $34.4m 0.66% Reduced -4.3m -4,289,000
10 STEELHEAD PARTNERS LLC 2.13% of their portfolio SEATTLE, WA 31,000,00031.0m $32.7m $32.7m 2.13% Reduced -12.5m -12,500,000
11 Graham Capital Management, L.P. 1.11% of their portfolio ROWAYTON, CT 30,000,00030.0m $31.7m $31.7m 1.11% Unchanged
12 WHITEBOX ADVISORS LLC 1.48% of their portfolio MINNEAPOLIS, MN 29,168,00029.2m $30.8m $30.8m 1.48% Reduced -13.7m -13,650,000
13 CAPSTONE INVESTMENT ADVISORS, LLC 0.89% of their portfolio NEW YORK, NY 27,200,00027.2m $28.8m $28.8m 0.89% Added +3.5m +3,500,000
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 22,818,00022.8m $24.0m $24.0m 0.00% Reduced -4.9m -4,875,000
15 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 20,656,00020.7m $21.8m $21.8m 0.01% Added +13.6m +13,596,000
16 MacKay Shields LLC 0.54% of their portfolio New York, NY 18,547,00018.5m $19.7m $19.7m 0.54% Reduced -185.0k -185,000
17 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 17,008,00017.0m $17.9m $17.9m 0.00% Added +8.0k +8,000
18 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio FRANKFURT AM MAIN, 2M 16,300,00016.3m $17.2m $17.2m 0.03% Added +4.2m +4,250,000
19 MIZUHO SECURITIES USA LLC 0.86% of their portfolio NEW YORK, NY 14,200,00014.2m $14.9m $14.9m 0.86% Added +3.5m +3,455,000
20 Walleye Capital LLC 0.29% of their portfolio NEW YORK, NY 13,500,00013.5m $14.3m $14.3m 0.29% New
21 WOLVERINE ASSET MANAGEMENT LLC 0.23% of their portfolio CHICAGO, IL 12,296,00012.3m $13.0m $13.0m 0.23% Added +4.8m +4,796,000
22 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 10,570,00010.6m $11.1m $11.1m 0.00% Added +410.0k +410,000
23 BANK OF NOVA SCOTIA 0.03% of their portfolio TORONTO, A6 10,506,00010.5m $11.1m $11.1m 0.03% New
24 MOORE CAPITAL MANAGEMENT, LP 0.33% of their portfolio NEW YORK, NY 10,000,00010.0m $10.6m $10.6m 0.33% New
25 Man Group plc 0.03% of their portfolio LONDON, X0 8,950,0008.9m $9.4m $9.4m 0.03% Reduced -400.0k -400,000
26 RWC Asset Management LLP 0.26% of their portfolio LONDON, X0 8,000,0008.0m $8.4m $8.4m 0.26% Added +3.5m +3,500,000
27 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 7,915,0007.9m $8.3m $8.3m 0.02% Added +499.0k +499,000
28 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 7,915,0007.9m $8.3m $8.3m 0.02% Added +499.0k +499,000
29 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 7,862,0007.9m $8.3m $8.3m 0.00% Reduced -1.8m -1,756,000
30 Segantii Capital Management Ltd 0.36% of their portfolio HONG KONG, K3 7,500,0007.5m $7.9m $7.9m 0.36% Reduced -5.0m -5,000,000
31 Amundi 0.00% of their portfolio Paris, I0 7,400,0007.4m $7.4m $7.4m 0.00% Added +1.4m +1,400,000
32 SHENKMAN CAPITAL MANAGEMENT INC 0.59% of their portfolio NEW YORK, NY 7,330,0007.3m $7.7m $7.7m 0.59% Added +524.0k +524,000
33 SSI INVESTMENT MANAGEMENT LLC 0.53% of their portfolio Los Angeles, CA 7,206,0007.2m $7.6m $7.6m 0.53% Reduced -329.0k -329,000
34 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,029,0007.0m $7.4m $7.4m 0.00% Added +1.0m +1,017,000
35 AXA S.A. 0.02% of their portfolio PARIS, I0 6,777,0006.8m $7.1m $7.1m 0.02% Unchanged
36 BlackRock Inc. 0.00% of their portfolio New York, NY 6,707,0006.7m $7.1m $7.1m 0.00% Reduced -4.1m -4,100,000
37 PUTNAM INVESTMENTS LLC 0.01% of their portfolio BOSTON, MA 6,340,0006.3m $6.7m $6.7m 0.01% Added +775.0k +775,000
38 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 5,861,5005.9m $6.2m $6.2m 0.00% Added +2.9m +2,922,000
39 AVIVA PLC 0.02% of their portfolio LONDON, X0 5,000,0005.0m $5.2m $5.2m 0.02% New
40 OAKTREE CAPITAL MANAGEMENT LP 0.06% of their portfolio LOS ANGELES, CA 4,992,0005.0m $5.3m $5.3m 0.06% Added +2.5m +2,492,000
41 PALISADE CAPITAL MANAGEMENT, LP 0.13% of their portfolio FORT LEE, NJ 4,415,0004.4m $4.7m $4.7m 0.13% Reduced -900.0k -900,000
42 Kohlberg Kravis Roberts & Co. L.P. 0.13% of their portfolio NEW YORK, NY 4,000,0004.0m $4.2m $4.2m 0.13% Reduced -2.3m -2,278,000
43 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 3,960,0004.0m $4.2m $4.2m 0.00% Added +232.0k +232,000
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,770,0003.8m $4.0m $4.0m 0.00% Reduced -2.0m -1,983,000
45 GABELLI FUNDS LLC 0.03% of their portfolio Rye, NY 3,575,0003.6m $3.8m $3.8m 0.03% Unchanged
46 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 3,000,0003.0m $3.2m $3.2m 0.00% New
47 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 2,796,0002.8m $2.9m $2.9m 0.00% Added +2.1m +2,060,000
48 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,516,0002.5m $2.7m $2.7m 0.00% Added +2.0m +2,000,000
49 Aequim Alternative Investments LP 0.08% of their portfolio MILL VALLEY, CA 2,500,0002.5m $2.6m $2.6m 0.08% New
50 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,276,0002.3m $2.4m $2.4m 0.00% Added +1.7m +1,662,000
51 Mint Tower Capital Management B.V. 0.29% of their portfolio AMSTERDAM, P7 2,000,0002.0m $2.1m $2.1m 0.29% New
52 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 1,500,0001.5m $1.6m $1.6m 0.00% New
53 EDMOND DE ROTHSCHILD HOLDING S.A. 0.03% of their portfolio CHAMBESY, V8 1,415,0001.4m $1.5m $1.5m 0.03% Unchanged
54 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 1,250,0001.2m $1.3m $1.3m 0.00% New
55 Nicholas Investment Partners, LP 0.09% of their portfolio RANCHO SANTA FE, CA 1,150,0001.1m $1.2m $1.2m 0.09% New
56 Liberty Mutual Group Asset Management Inc. 0.23% of their portfolio Boston, MA 950,000950.0k $1.0m $1.0m 0.23% New
57 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 925,000925.0k $976.1k $976.1k 0.00% New
58 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 790,000790.0k $814.7k $814.7k 0.00% Added +400.0k +400,000
59 Teton Advisors, Inc. 0.19% of their portfolio Rye, NY 675,000675.0k $712.3k $712.3k 0.19% Unchanged
60 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 600,000600.0k $633.7k $633.7k 0.00% Unchanged
61 ABN AMRO INVESTMENT SOLUTIONS 0.01% of their portfolio PARIS CEDEX 008, I0 500,000500.0k $529.8k $529.8k 0.01% First filing
62 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 425,000425.0k $448.2k $448.2k 0.00% Added +75.0k +75,000
63 Calamos Wealth Management LLC 0.03% of their portfolio NAPERVILLE, IL 416,000416.0k $439.0k $439.0k 0.03% Added +25.0k +25,000
64 KBC Group NV 0.00% of their portfolio Brussels, C9 350,000350.0k $370.0k $370.0k 0.00% Added +100.0k +100,000
65 NOMURA HOLDINGS INC 0.34% of their portfolio TOKYO, M0 299,216299.2k $34.9m $34.9m 0.34% Added +193.1k +193,062
66 Lombard Odier Asset Management (Europe) Ltd 0.01% of their portfolio LONDON, X0 200,000200.0k $211.2k $211.2k 0.01% Unchanged
67 Northwest & Ethical Investments L.P. 0.01% of their portfolio TORONTO, A6 150,000150.0k $158.6k $158.6k 0.01% Unchanged
68 FIRST HAWAIIAN BANK 0.01% of their portfolio HONOLULU, HI 146,000146.0k $154.0k $154.0k 0.01% Unchanged
69 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 94,00094.0k $99.1k $99.1k 0.00% Added +90.0k +90,000
70 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 51,00051.0k $54.0k $54.0k 0.00% Unchanged
71 Verition Fund Management LLC 0.50% of their portfolio GREENWICH, CT 29,84829.8k $31.6m $31.6m 0.50% Reduced -29.1m -29,096,152
72 Boussard & Gavaudan Investment Management LLP 2.47% of their portfolio London, X0 25,00025.0k $26.2m $26.2m 2.47% Reduced -3.1k -3,142
73 LOOMIS SAYLES & CO L P 0.00% of their portfolio BOSTON, MA 21,51321.5k $2.5m $2.5m 0.00% Reduced -11.2k -11,201
74 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 16,00016.0k $1.7m $1.7m 0.02% Unchanged
75 LAKE STREET ADVISORS GROUP, LLC 0.00% of their portfolio PORTSMOUTH, NH 16,00016.0k $17.0k $17.0k 0.00% Unchanged
76 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 13,00013.0k $13.7k $13.7k 0.00% Unchanged
77 Candriam S.C.A. 0.03% of their portfolio STRASSEN, N4 3,9003.9k $3.8m $3.8m 0.03% Added +1.3k +1,300
78 NATIXIS 0.02% of their portfolio PARIS, I0 1,6881.7k $1.8m $1.8m 0.02% New
79 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 1,0001.0k $105.5k $105.5k 0.00% New
80 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $1.1k $1.1k 0.00% Unchanged
81 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,0001.0k $1.1k $1.1k 0.00% Unchanged
82 Alken Asset Management Ltd 0.02% of their portfolio LONDON, X0 750750 $784 $784 0.02% New
83 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged