Vault-13

ZSCALER INC ZS 0.125 07.01.25

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

6 institutional holders -79 vs Q1 2025
2,0002.0k shares reported held*
$148.3mreported value*
0 new 0 added 2 reduced 79 sold out net sold ≈ $1.8bn (-6.5m 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 ≈ $74156.67.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 68Q4 22: 77Q1 23: 83Q2 23: 90Q3 23: 88Q4 23: 89Q1 24: 85Q2 24: 95Q3 24: 96Q4 24: 94Q1 25: 85Q2 25: 66Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202268
Q4 202277
Q1 202383
Q2 202390
Q3 202388
Q4 202389
Q1 202485
Q2 202495
Q3 202496
Q4 202494
Q1 202585
Q2 20256

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 30 bought or addedQ3 23: 30 cut or sold outQ4 23: 35 bought or addedQ4 23: 45 cut or sold outQ4 23Q1 24: 29 bought or addedQ1 24: 60 cut or sold outQ2 24: 45 bought or addedQ2 24: 35 cut or sold outQ2 24Q3 24: 36 bought or addedQ3 24: 40 cut or sold outQ4 24: 29 bought or addedQ4 24: 45 cut or sold outQ4 24Q1 25: 35 bought or addedQ1 25: 36 cut or sold outQ2 25: 0 bought or addedQ2 25: 81 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20233030
Q4 20233545
Q1 20242960
Q2 20244535
Q3 20243640
Q4 20242945
Q1 20253536
Q2 2025081

Biggest buyers

None

Biggest sellers

D. E. Shaw & Co., Inc. Sold out -171,270,000-171.3m
TENOR CAPITAL MANAGEMENT Co., L.P. Sold out -98,142,000-98.1m
DeepCurrents Investment Group LLC Sold out -52,918,000-52.9m
MOORE CAPITAL MANAGEMENT, LP Sold out -50,668,000-50.7m
VOYA INVESTMENT MANAGEMENT LLC Sold out -49,520,000-49.5m
FMR LLC Sold out -43,168,000-43.2m
Hudson Bay Capital Management LP Sold out -41,571,000-41.6m
BANK OF NOVA SCOTIA Sold out -35,386,000-35.4m
LAZARD ASSET MANAGEMENT LLC Sold out -29,965,000-30.0m
LMR Partners LLP Sold out -25,000,000-25.0m

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CAPSTONE INVESTMENT ADVISORS, LLC 1.16% of their portfolio NEW YORK, NY 66,500,00066.5m $136.1m $136.1m 1.16% Reduced -5.0m -5,000,000
2 Radcliffe Capital Management, L.P. 0.78% of their portfolio BALA CYNWYD, PA 5,000,0005.0m $10.2m $10.2m 0.78% Unchanged
3 Pinnacle Holdings, LLC 0.55% of their portfolio TULSA, OK 750,000750.0k $1.5m $1.5m 0.55% Unchanged
4 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 210,000210.0k $440.2k $440.2k 0.00% Reduced -2.1m -2,087,000
5 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 2,0002.0k $4.1k $4.1k 0.00% Unchanged
6 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 11 $2.0k $2.0k 0.00% Unchanged