Vault-13

ARGO GROUP INTL HLDGS LTD AGII

COM · Common Stock · CUSIP G0464B107

147 institutional holders -4 vs Q1 2023
35,929,25135.9m shares reported held*
$1.1bnreported value*
15 new 48 added 54 reduced 21 sold out net sold ≈ $34.5m (-1.1m 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 ($4.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.55. Options: 6 managers hold calls ($1.6m notional), 3 hold puts ($17.0k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 154Q4 22: 154Q1 23: 151Q2 23: 147147Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022154
Q4 2022154
Q1 2023151
Q2 2023147

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 22: 66 bought or addedQ4 22: 76 cut or sold outQ4 22Q1 23: 85 bought or addedQ1 23: 85 cut or sold outQ1 23Q2 23: 63 bought or addedQ2 23: 75 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20226676
Q1 20238585
Q2 20236375

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ3 22 calls: $0Q3 22 puts: $0Q3 22P/C —Q4 22 calls: $10.3kQ4 22 puts: $0Q4 22P/C 0.00Q1 23 calls: $1.2mQ1 23 puts: $5.9kQ1 23P/C 0.00Q2 23 calls: $1.6mQ2 23 puts: $17.0kQ2 23P/C 0.01
Numbers
QuarterCallsPutsP/C
Q3 2022$0$0—
Q4 2022$10.3k$00.00
Q1 2023$1.2m$5.9k0.00
Q2 2023$1.6m$17.0k0.01

Biggest buyers

FourWorld Capital Management LLC Added +2,745,317+2.7m
FIL Ltd Added +589,456+589.5k
First Trust Capital Management L.P. Added +391,891+391.9k
VANGUARD GROUP INC Added +317,479+317.5k
ALPINE ASSOCIATES MANAGEMENT INC. New +313,780+313.8k
JANUS HENDERSON GROUP PLC Added +286,253+286.3k
GLAZER CAPITAL, LLC Added +205,588+205.6k
NEXPOINT ASSET MANAGEMENT, L.P. New +186,008+186.0k
TWO SIGMA INVESTMENTS, LP Added +163,737+163.7k
TOKIO MARINE ASSET MANAGEMENT CO LTD Added +139,300+139.3k

Biggest sellers

Corbin Capital Partners, L.P. Sold out -1,366,198-1.4m
Pentwater Capital Management LP Reduced -869,570-869.6k
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Sold out -866,017-866.0k
Oasis Management Co Ltd. Sold out -833,600-833.6k
PZENA INVESTMENT MANAGEMENT LLC Reduced -638,260-638.3k
TWO SIGMA ADVISERS, LP Reduced -517,634-517.6k
WATER ISLAND CAPITAL LLC Sold out -511,945-511.9k
Westchester Capital Management, LLC Reduced -282,625-282.6k
Burgundy Asset Management Ltd. Reduced -276,834-276.8k
GOLDMAN SACHS GROUP INC Reduced -232,262-232.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $864.6k29.2k shares
CITADEL ADVISORS LLC Added $349.4k11.8k shares
Parallax Volatility Advisers, L.P. Reduced $213.2k7.2k shares
SIMPLEX TRADING, LLC Reduced $156.0k5.3k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
FNY Investment Advisers, LLC Added $017 shares

Biggest puts

SIMPLEX TRADING, LLC New $14.0k500 shares
CITADEL ADVISORS LLC Reduced $3.0k100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FourWorld Capital Management LLC 46.52% of their portfolio NEW YORK, NY 5,502,1205.5m $161.8m $161.8m 46.52% Added +2.7m +2,745,317
2 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 3,640,4673.6m $107.8m $107.8m 0.00% Added +317.5k +317,479
3 BlackRock Inc. 0.00% of their portfolio New York, NY 2,699,3772.7m $79.9m $79.9m 0.00% Added +95.9k +95,867
4 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 2,108,9542.1m $62.4m $62.4m 0.02% Reduced -48.6k -48,627
5 FIL Ltd 0.06% of their portfolio HAMILTON, D0 1,754,9561.8m $52.0m $52.0m 0.06% Added +589.5k +589,456
6 GLAZER CAPITAL, LLC 2.47% of their portfolio New York, NY 1,258,4951.3m $37.3m $37.3m 2.47% Added +205.6k +205,588
7 VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.62% of their portfolio AMSTERDAM, P7 1,162,7451.2m $34.4m $34.4m 0.62% Reduced -85.1k -85,100
8 PZENA INVESTMENT MANAGEMENT LLC 0.13% of their portfolio NEW YORK, NY 1,013,0611.0m $30.0m $30.0m 0.13% Reduced -638.3k -638,260
9 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 832,178832.2k $24.6m $24.6m 0.03% Added +55.3k +55,266
10 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 809,357809.4k $24.0m $24.0m 0.01% Reduced -232.3k -232,262
11 Carlson Capital, L.P. 2.04% of their portfolio DALLAS, TX 805,339805.3k $23.8m $23.8m 2.04% Added +5.3k +5,339
12 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 783,793783.8k $23.2m $23.2m 0.00% Reduced -7.8k -7,809
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 692,070692.1k $20.5m $20.5m 0.00% Added +5.9k +5,928
14 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 653,083653.1k $19.3m $19.3m 0.00% Added +15.9k +15,911
15 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 636,478636.5k $18.8m $18.8m 0.01% Reduced -171.4k -171,386
16 KENNEDY CAPITAL MANAGEMENT LLC 0.42% of their portfolio ST LOUIS, MO 602,274602.3k $17.8m $17.8m 0.42% Reduced -23.2k -23,176
17 TOKIO MARINE ASSET MANAGEMENT CO LTD 1.02% of their portfolio Tokyo, M0 537,800537.8k $15.9m $15.9m 1.02% Added +139.3k +139,300
18 AQR Arbitrage LLC 0.63% of their portfolio Greenwich, CT 492,868492.9k $14.6m $14.6m 0.63% Added +93.7k +93,661
19 First Trust Capital Management L.P. 0.86% of their portfolio CHICAGO, IL 490,195490.2k $14.5m $14.5m 0.86% Added +391.9k +391,891
20 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.06% of their portfolio TORONTO, A6 482,100482.1k $14.3m $14.3m 0.06% Reduced -37.4k -37,400
21 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 472,399472.4k $14.0m $14.0m 0.00% Added +7.1k +7,148
22 PRIVATE MANAGEMENT GROUP INC 0.58% of their portfolio IRVINE, CA 460,608460.6k $13.6m $13.6m 0.58% Reduced -36.8k -36,766
23 Pentwater Capital Management LP 0.16% of their portfolio Naples, FL 430,430430.4k $12.7m $12.7m 0.16% Reduced -869.6k -869,570
24 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 427,809427.8k $12.7m $12.7m 0.03% Added +163.7k +163,737
25 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 370,550370.6k $11.0m $11.0m 0.00% Added +8.6k +8,581
26 Ergoteles LLC 0.46% of their portfolio NEW YORK, NY 324,547324.5k $9.6m $9.6m 0.46% Added +60.7k +60,742
27 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 314,602314.6k $9.3m $9.3m 0.00% Reduced -18.3k -18,327
28 ALPINE ASSOCIATES MANAGEMENT INC. 0.42% of their portfolio PALM BEACH, FL 313,780313.8k $9.3m $9.3m 0.42% New
29 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 301,720301.7k $8.9m $8.9m 0.01% Added +286.3k +286,253
30 NORGES BANK 0.00% of their portfolio OSLO, Q8 297,352297.4k $8.8m $8.8m 0.00% Unchanged
31 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 259,575259.6k $7.7m $7.7m 0.01% Reduced -55 -55
32 Westchester Capital Management, LLC 0.24% of their portfolio VALHALLA, NY 235,846235.8k $7.0m $7.0m 0.24% Reduced -282.6k -282,625
33 GABELLI FUNDS LLC 0.05% of their portfolio Rye, NY 233,287233.3k $6.9m $6.9m 0.05% Added +20.7k +20,749
34 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 221,247221.2k $6.6m $6.6m 0.03% Reduced -37.8k -37,806
35 BARDIN HILL MANAGEMENT PARTNERS LP 1.51% of their portfolio NEW YORK, NY 193,860193.9k $5.7m $5.7m 1.51% Added +25.5k +25,526
36 GRACE & WHITE INC /NY 1.02% of their portfolio NY, NY 187,177187.2k $5.5m $5.5m 1.02% Reduced -29.1k -29,106
37 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 186,166186.2k $5.5m $5.5m 0.01% Reduced -517.6k -517,634
38 NEXPOINT ASSET MANAGEMENT, L.P. 0.83% of their portfolio Dallas, TX 186,008186.0k $5.5m $5.5m 0.83% New
39 GARDNER LEWIS ASSET MANAGEMENT L P 2.01% of their portfolio CHADDS FORD, PA 185,666185.7k $5.5m $5.5m 2.01% Added +120.3k +120,274
40 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 181,636181.6k $5.4m $5.4m 0.00% Added +12.8k +12,830
41 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.11% of their portfolio HOUSTON, TX 161,560161.6k $4.8m $4.8m 0.11% Added +2.9k +2,852
42 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 144,678144.7k $4.3m $4.3m 0.00% Added +10.7k +10,717
43 GABELLI & Co INVESTMENT ADVISERS, INC. 0.69% of their portfolio Rye, NY 139,955140.0k $4.1m $4.1m 0.69% Added +38.2k +38,205
44 Sagefield Capital LP 0.86% of their portfolio DALLAS, TX 135,455135.5k $4.0m $4.0m 0.86% Added +105.4k +105,355
45 Burgundy Asset Management Ltd. 0.05% of their portfolio Toronto, A6 130,880130.9k $3.9m $3.9m 0.05% Reduced -276.8k -276,834
46 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 128,481128.5k $3.8m $3.8m 0.00% Reduced -34.0k -33,974
47 PRELUDE CAPITAL MANAGEMENT, LLC 0.32% of their portfolio NEW YORK, NY 127,854127.9k $3.8m $3.8m 0.32% Reduced -57.3k -57,272
48 GAMCO INVESTORS, INC. ET AL 0.04% of their portfolio GREENWICH, CT 119,414119.4k $3.5m $3.5m 0.04% Added +32.0k +32,050
49 NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio STOCKHOLM, V7 103,275103.3k $3.1m $3.1m 0.00% Reduced -45.3k -45,343
50 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 100,353100.4k $3.0m $3.0m 0.00% Reduced -141.0k -140,978
51 WOLVERINE ASSET MANAGEMENT LLC 0.05% of their portfolio CHICAGO, IL 98,14898.1k $2.9m $2.9m 0.05% Added +23.2k +23,217
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 86,25486.3k $2.6m $2.6m 0.00% Added +20.4k +20,441
53 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.03% of their portfolio New York, NY 84,43184.4k $2.5m $2.5m 0.03% Added +1.9k +1,906
54 Empowered Funds, LLC 0.08% of their portfolio NEWTOWN SQUARE, PA 81,17681.2k $2.4m $2.4m 0.08% New
55 EA Series Trust 0.08% of their portfolio HAVERTOWN, PA 81,17681.2k $2.4m $2.4m 0.08% First filing
56 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio JUPITER, FL 80,32780.3k $2.4m $2.4m 0.01% Added +2.4k +2,429
57 Swiss National Bank 0.00% of their portfolio ZURICH, V8 72,61672.6k $2.2m $2.2m 0.00% Reduced -3.0k -3,000
58 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 71,81871.8k $2.1m $2.1m 0.00% New
59 Olympiad Research LP 1.99% of their portfolio Stamford, CT 68,28368.3k $2.0m $2.0m 1.99% Reduced -683 -683
60 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 63,09063.1k $1.9m $1.9m 0.00% Reduced -1.6k -1,629
61 EHP Funds Inc. 0.50% of their portfolio TORONTO, Z4 60,00060.0k $1.8m $1.8m 0.50% New
62 PICTET ASSET MANAGEMENT SA 0.00% of their portfolio GENEVA 73, V8 59,88759.9k $1.8m $1.8m 0.00% Added +34.7k +34,688
63 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 57,95358.0k $1.7m $1.7m 0.00% Unchanged
64 Carmignac Gestion 0.03% of their portfolio PARIS, I0 55,42455.4k $1.6m $1.6m 0.03% Not comparable
65 Yakira Capital Management, Inc. 0.42% of their portfolio Westport, CT 53,67553.7k $1.6m $1.6m 0.42% New
66 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 51,33851.3k $1.5m $1.5m 0.00% Reduced -100 -100
67 BCK CAPITAL MANAGEMENT LP 1.08% of their portfolio STAMFORD, CT 47,75247.8k $1.4m $1.4m 1.08% Unchanged
68 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 42,70642.7k $1.3m $1.3m 0.00% Unchanged
69 UBS Group AG 0.00% of their portfolio ZURICH, V8 41,98242.0k $1.2m $1.2m 0.00% Added +28.6k +28,576
70 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 39,97940.0k $1.2m $1.2m 0.00% Reduced -2.6k -2,627
71 Kellner Capital, LLC 1.15% of their portfolio NEW YORK, NY 33,89833.9k $1.0m $1.0m 1.15% Unchanged
72 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 33,14033.1k $981.3k $981.3k 0.00% Added +7.1k +7,078
73 Legal & General Group Plc 0.00% of their portfolio London, X0 32,64732.6k $966.7k $966.7k 0.00% Added +3.4k +3,431
74 PenderFund Capital Management Ltd. 0.39% of their portfolio VANCOUVER, A1 32,14032.1k $1.3k $1.3k 0.39% Added +12.0k +11,970
75 ExodusPoint Capital Management, LP 0.01% of their portfolio NEW YORK, NY 27,77627.8k $822.0k $822.0k 0.01% New
76 Mint Tower Capital Management B.V. 0.11% of their portfolio AMSTERDAM, P7 27,58727.6k $817.0k $817.0k 0.11% New
77 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 27,56027.6k $817.0k $817.0k 0.00% Added +535 +535
78 PDT Partners, LLC 0.10% of their portfolio New York, NY 24,35624.4k $721.2k $721.2k 0.10% Added +80 +80
79 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 23,98424.0k $710.2k $710.2k 0.00% Added +530 +530
80 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 22,45622.5k $664.9k $664.9k 0.00% Reduced -2.8k -2,811
81 SHELL ASSET MANAGEMENT CO 0.03% of their portfolio THE HAGUE, P7 22,07122.1k $654.0k $654.0k 0.03% Reduced -3.7k -3,716
82 MCDONALD CAPITAL INVESTORS INC/CA 0.05% of their portfolio ORINDA, CA 21,92521.9k $649.2k $649.2k 0.05% Added +2.2k +2,175
83 CSS LLC/IL 0.05% of their portfolio CHICAGO, IL 21,09921.1k $624.7k $624.7k 0.05% Unchanged
84 Allianz Asset Management GmbH 0.00% of their portfolio MUNICH, 2M 21,03221.0k $622.8k $622.8k 0.00% Reduced -63.1k -63,096
85 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 20,14320.1k $596.4k $596.4k 0.00% Added +1.3k +1,311
86 Diametric Capital, LP 0.26% of their portfolio BOSTON, MA 20,00020.0k $592.2k $592.2k 0.26% New
87 HARBOR CAPITAL ADVISORS, INC. 0.12% of their portfolio CHICAGO, IL 19,96420.0k $591.1k $591.1k 0.12% New
88 Skandinaviska Enskilda Banken AB (publ) 0.00% of their portfolio STOCKHOLM, V7 19,92319.9k $590.0k $590.0k 0.00% New
89 Crystalline Management Inc. 0.40% of their portfolio Montreal, Quebec, Z4 18,91718.9k $560.1k $560.1k 0.40% New
90 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 16,96317.0k $502.3k $502.3k 0.00% Unchanged
91 Borer Denton & Associates, Inc. 0.19% of their portfolio BLUE BELL, PA 16,40016.4k $485.6k $485.6k 0.19% Reduced -800 -800
92 CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio TORONTO ONTARIO, A6 15,80015.8k $467.8k $467.8k 0.00% Reduced -18.5k -18,500
93 AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio New York, NY 15,40315.4k $456.1k $456.1k 0.00% Added +72 +72
94 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 14,21814.2k $421.0k $421.0k 0.00% Reduced -7.9k -7,857
95 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 13,55913.6k $401.5k $401.5k 0.00% Unchanged
96 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 12,94512.9k $383.3k $383.3k 0.00% Added +599 +599
97 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 12,56412.6k $372.0k $372.0k 0.00% Reduced -31 -31
98 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 12,56012.6k $371.9k $371.9k 0.00% Reduced -3.5k -3,520
99 PUTNAM INVESTMENTS LLC 0.00% of their portfolio BOSTON, MA 11,62911.6k $344.3k $344.3k 0.00% Reduced -6.2k -6,190
100 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 10,95711.0k $324.4k $324.4k 0.00% Added +7.0k +6,981