| Holder | Amount | Position Size
($ in 1000's) | As of |
|---|
 LMR Partners LLP | | $1,531,875 | 12/31/2019 |
| NOTE 0 | 10,000,000 | $1,531,875 | 12/31/2019 |
 Vanguard Group Inc. | 11,341,295 | $1,114,621 | 12/31/2019 |
| TWLO | 11,341,295 | $1,114,621 | 12/31/2019 |
| Price T Rowe Associates Inc. MD | 10,938,793 | $1,075,065 | 12/31/2019 |
| TWLO | 10,938,793 | $1,075,065 | 12/31/2019 |
| Morgan Stanley | | $867,536 | 12/31/2019 |
| TWLO | 8,827,010 | $867,519 | 12/31/2019 |
| NOTE 0 | 11,000 | $17 | 12/31/2019 |
| BlackRock Inc. | | $721,984 | 12/31/2019 |
| TWLO | 7,324,059 | $719,809 | 12/31/2019 |
| NOTE 0 | 1,425,000 | $2,175 | 12/31/2019 |
| FMR LLC | | $586,720 | 12/31/2019 |
| TWLO | 5,837,330 | $573,692 | 12/31/2019 |
| NOTE 0 | 8,535,000 | $13,028 | 12/31/2019 |
| Jennison Associates LLC | 4,461,193 | $438,446 | 12/31/2019 |
| TWLO | 4,461,193 | $438,446 | 12/31/2019 |
| Generation Investment Management LLP | 3,363,351 | $330,550 | 12/31/2019 |
| TWLO | 3,363,351 | $330,550 | 12/31/2019 |
| Tybourne Capital Management HK Ltd. | 3,289,456 | $323,288 | 12/31/2019 |
| TWLO | 3,289,456 | $323,288 | 12/31/2019 |
| Allianz Asset Management GmbH | | $320,459 | 12/31/2019 |
| TWLO | 2,705,640 | $265,910 | 12/31/2019 |
| NOTE 0 | 35,665,000 | $54,549 | 12/31/2019 |
| Franklin Resources Inc. | | $302,272 | 12/31/2019 |
| TWLO | 2,418,443 | $237,675 | 12/31/2019 |
| NOTE 0 | 42,250,000 | $64,597 | 12/31/2019 |
| Dragoneer Investment Group LLC | 2,990,166 | $293,874 | 12/31/2019 |
| TWLO | 2,990,166 | $293,874 | 12/31/2019 |
| State Street Corp | | $264,158 | 12/31/2019 |
| TWLO | 2,394,660 | $235,347 | 12/31/2019 |
| NOTE 0 | 18,835,000 | $28,811 | 12/31/2019 |
| Foxhaven Asset Management LP | 2,640,332 | $259,492 | 12/31/2019 |
| TWLO | 2,640,332 | $259,492 | 12/31/2019 |
| Scge Management L.P. | 2,271,500 | $223,243 | 12/31/2019 |
| TWLO | 2,271,500 | $223,243 | 12/31/2019 |
| Bank of New York Mellon Corp | | $205,180 | 12/31/2019 |
| TWLO | 2,076,789 | $204,108 | 12/31/2019 |
| NOTE | 700,000 | $1,072 | 12/31/2019 |
| Sands Capital Management LLC | 1,944,975 | $191,152 | 12/31/2019 |
| TWLO | 1,944,975 | $191,152 | 12/31/2019 |
| Tiger Global Management LLC | 1,906,000 | $187,322 | 12/31/2019 |
| TWLO | 1,906,000 | $187,322 | 12/31/2019 |
| Victory Capital Management Inc. | 1,406,726 | $138,253 | 12/31/2019 |
| TWLO | 1,406,726 | $138,253 | 12/31/2019 |
| Wells Fargo & Company MN | | $132,892 | 12/31/2019 |
| TWLO | 1,232,912 | $121,171 | 12/31/2019 |
| NOTE 0 | 7,658,000 | $11,721 | 12/31/2019 |
| Bank of America Corp DE | | $131,729 | 12/31/2019 |
| TWLO | 936,628 | $92,051 | 12/31/2019 |
| NOTE 0 | 25,994,000 | $39,678 | 12/31/2019 |
| Geode Capital Management LLC | 1,238,960 | $121,653 | 12/31/2019 |
| TWLO | 1,238,960 | $121,653 | 12/31/2019 |
| Pictet Asset Management Ltd. | 1,222,965 | $120,193 | 12/31/2019 |
| TWLO | 1,222,965 | $120,193 | 12/31/2019 |
| JPMorgan Chase & Co. | | $119,555 | 12/31/2019 |
| TWLO | 1,026,682 | $100,902 | 12/31/2019 |
| BOND | 12,182,000 | $18,653 | 12/31/2019 |
| Calamos Advisors LLC | | $101,133 | 12/31/2019 |
| CONVERTIBLE SECURITY | 40,215,000 | $61,663 | 12/31/2019 |
| TWLO | 401,613 | $39,470 | 12/31/2019 |
| SQN Investors LP | 952,043 | $93,567 | 12/31/2019 |
| TWLO | 952,043 | $93,567 | 12/31/2019 |
| Sumitomo Mitsui Trust Holdings Inc. | 950,397 | $93,405 | 12/31/2019 |
| TWLO | 950,397 | $93,405 | 12/31/2019 |
| Invesco Ltd. | | $92,028 | 12/31/2019 |
| TWLO | 852,522 | $83,786 | 12/31/2019 |
| NOTE 0 | 5,400,000 | $8,242 | 12/31/2019 |
| Whale Rock Capital Management LLC | 932,737 | $91,669 | 12/31/2019 |
| TWLO | 932,737 | $91,669 | 12/31/2019 |
| Goldman Sachs Group Inc. | | $91,307 | 12/31/2019 |
| TWLO | 899,216 | $88,375 | 12/31/2019 |
| Call | 48,100 | $4,727 | 12/31/2019 |
| Put | 23,100 | $2,270 | 12/31/2019 |
| CNV | 311,000 | $475 | 12/31/2019 |
| Alyeska Investment Group L.P. | 924,527 | $90,863 | 12/31/2019 |
| TWLO | 924,527 | $90,863 | 12/31/2019 |
| Norges Bank | 894,553 | $87,917 | 12/31/2019 |
| TWLO | 894,553 | $87,917 | 12/31/2019 |
| Bain Capital Venture Investors LLC | 836,799 | $82,241 | 12/31/2019 |
| TWLO | 836,799 | $82,241 | 12/31/2019 |
| Eventide Asset Management LLC | 827,000 | $81,278 | 12/31/2019 |
| TWLO | 827,000 | $81,278 | 12/31/2019 |
| Northern Trust Corp | 821,357 | $80,724 | 12/31/2019 |
| TWLO | 821,357 | $80,724 | 12/31/2019 |
| Waddell & Reed Financial Inc. | 745,321 | $73,250 | 12/31/2019 |
| TWLO | 745,321 | $73,250 | 12/31/2019 |
| Legal & General Group Plc | 703,802 | $69,163 | 12/31/2019 |
| TWLO | 703,802 | $69,163 | 12/31/2019 |
| Valinor Management L.P. | 565,683 | $55,596 | 12/31/2019 |
| TWLO | 565,683 | $55,596 | 12/31/2019 |
| First Trust Advisors LP | 553,701 | $54,418 | 12/31/2019 |
| TWLO | 553,701 | $54,418 | 12/31/2019 |
| Eaton Vance Management | 536,499 | $52,727 | 12/31/2019 |
| TWLO | 536,499 | $52,727 | 12/31/2019 |
| Susquehanna International Group LLP | | $52,651 | 12/31/2019 |
| Put | 2,166,100 | $212,884 | 12/31/2019 |
| Call | 1,879,500 | $184,717 | 12/31/2019 |
| TWLO | 822,323 | $80,818 | 12/31/2019 |
| Nuveen Asset Management LLC | 531,341 | $52,220 | 12/31/2019 |
| TWLO | 531,341 | $52,220 | 12/31/2019 |
| Amundi Pioneer Asset Management Inc. | 528,138 | $51,905 | 12/31/2019 |
| TWLO | 528,138 | $51,905 | 12/31/2019 |
| Davidson Kempner Capital Management LP | 521,359 | $51,239 | 12/31/2019 |
| TWLO | 521,359 | $51,239 | 12/31/2019 |
| Nikko Asset Management Americas Inc. | 520,976 | $51,202 | 12/31/2019 |
| TWLO | 520,976 | $51,202 | 12/31/2019 |
| Westfield Capital Management Co. LP | 512,543 | $50,373 | 12/31/2019 |
| TWLO | 512,543 | $50,373 | 12/31/2019 |
| Ameriprise Financial Inc. | 493,859 | $48,478 | 12/31/2019 |
| TWLO | 493,859 | $48,478 | 12/31/2019 |
| New York State Common Retirement Fund | 493,205 | $48,472 | 12/31/2019 |
| TWLO | 493,205 | $48,472 | 12/31/2019 |
| Deutsche Bank AG | | $47,672 | 12/31/2019 |
| TWLO | 485,411 | $47,702 | 12/31/2019 |
| Put | 310 | $30 | 12/31/2019 |
| Call | 3 | $0 | 12/31/2019 |
| Wolverine Asset Management LLC | | $46,242 | 12/31/2019 |
| NOTE 0 | 35,980,000 | $55,107 | 12/31/2019 |
| Put | 95,200 | $9,356 | 12/31/2019 |
| TWLO | 5,000 | $491 | 12/31/2019 |
| Russell Investments Group Ltd. | 453,487 | $44,558 | 12/31/2019 |
| TWLO | 453,487 | $44,558 | 12/31/2019 |
| Lazard Asset Management LLC | | $43,574 | 12/31/2019 |
| Bond 30 360P2 U | 28,500,000 | $43,574 | 12/31/2019 |
| Polar Capital LLP | 439,085 | $43,153 | 12/31/2019 |
| TWLO | 439,085 | $43,153 | 12/31/2019 |
| UBS Asset Management Americas Inc. | 423,632 | $41,635 | 12/31/2019 |
| TWLO | 423,632 | $41,635 | 12/31/2019 |
| Ashe Capital Management LP | 411,100 | $40,403 | 12/31/2019 |
| TWLO | 411,100 | $40,403 | 12/31/2019 |
| Swiss National Bank | 364,198 | $35,793 | 12/31/2019 |
| TWLO | 364,198 | $35,793 | 12/31/2019 |
| Vista Equity Partners Management LLC | 342,053 | $33,617 | 12/31/2019 |
| TWLO | 342,053 | $33,617 | 12/31/2019 |
| Asset Management One Co. Ltd. | 332,297 | $32,659 | 12/31/2019 |
| TWLO | 332,297 | $32,659 | 12/31/2019 |
| Dorsal Capital Management LLC | 325,000 | $31,941 | 12/31/2019 |
| TWLO | 325,000 | $31,941 | 12/31/2019 |
| Charles Schwab Investment Management Inc. | 323,183 | $31,763 | 12/31/2019 |
| TWLO | 323,183 | $31,763 | 12/31/2019 |
| Blair William & Co. IL | 311,977 | $30,661 | 12/31/2019 |
| TWLO | 311,977 | $30,661 | 12/31/2019 |
| Personal Capital Advisors Corp | 295,046 | $28,997 | 12/31/2019 |
| TWLO | 295,046 | $28,997 | 12/31/2019 |
| Citadel Advisors LLC | | $28,400 | 12/31/2019 |
| Put | 772,400 | $75,911 | 12/31/2019 |
| Call | 696,100 | $68,413 | 12/31/2019 |
| TWLO | 365,267 | $35,898 | 12/31/2019 |
| State of Wisconsin Investment Board | 284,914 | $28,001 | 12/31/2019 |
| TWLO | 284,914 | $28,001 | 12/31/2019 |
| Pacific Heights Asset Management LLC | 270,000 | $26,536 | 12/31/2019 |
| TWLO | 270,000 | $26,536 | 12/31/2019 |
| DF Dent & Co. Inc. | 264,681 | $26,013 | 12/31/2019 |
| TWLO | 264,681 | $26,013 | 12/31/2019 |
| Light Street Capital Management LLC | 262,498 | $25,798 | 12/31/2019 |
| TWLO | 262,498 | $25,798 | 12/31/2019 |
| Jane Street Group LLC | | $25,328 | 12/31/2019 |
| Call | 176,500 | $17,347 | 12/31/2019 |
| TWLO | 128,906 | $12,669 | 12/31/2019 |
| Put | 47,700 | $4,688 | 12/31/2019 |
| Steelhead Partners LLC | | $25,300 | 12/31/2019 |
| NOTE 0 | 16,500,000 | $25,300 | 12/31/2019 |
| California Public Employees Retirement System | 256,700 | $25,228 | 12/31/2019 |
| TWLO | 256,700 | $25,228 | 12/31/2019 |
| ThornTree Capital Partners LP | 250,722 | $24,641 | 12/31/2019 |
| TWLO | 250,722 | $24,641 | 12/31/2019 |
| Citigroup Inc. | | $24,106 | 12/31/2019 |
| TWLO | 226,388 | $22,248 | 12/31/2019 |
| Call | 205,900 | $20,236 | 12/31/2019 |
| Put | 187,000 | $18,378 | 12/31/2019 |
| Miracle Mile Advisors LLC | 238,793 | $23,469 | 12/31/2019 |
| TWLO | 238,793 | $23,469 | 12/31/2019 |
| Toronado Partners LLC | 236,705 | $23,263 | 12/31/2019 |
| TWLO | 236,705 | $23,263 | 12/31/2019 |
| Neumann Advisory Hong Kong Ltd | 235,000 | $23,096 | 12/31/2019 |
| TWLO | 235,000 | $23,096 | 12/31/2019 |
| Bamco Inc. NY | 226,212 | $22,232 | 12/31/2019 |
| TWLO | 226,212 | $22,232 | 12/31/2019 |
| Fred Alger Management LLC | 221,941 | $21,812 | 12/31/2019 |
| TWLO | 221,941 | $21,812 | 12/31/2019 |
| California State Teachers Retirement System | 218,125 | $21,437 | 12/31/2019 |
| TWLO | 218,125 | $21,437 | 12/31/2019 |
| Dimensional Fund Advisors LP | 215,589 | $21,188 | 12/31/2019 |
| TWLO | 215,589 | $21,188 | 12/31/2019 |
| Summit Partners Public Asset Management LLC | 209,236 | $20,564 | 12/31/2019 |
| TWLO | 209,236 | $20,564 | 12/31/2019 |
| Nomura Holdings Inc. | | $20,371 | 12/31/2019 |
| Call | 117,400 | $11,527 | 12/31/2019 |
| TWLO | 90,073 | $8,844 | 12/31/2019 |
| Voloridge Investment Management LLC | 204,058 | $20,055 | 12/31/2019 |
| TWLO | 204,058 | $20,055 | 12/31/2019 |
| Glynn Capital Management LLC | 203,933 | $20,043 | 12/31/2019 |
| TWLO | 203,933 | $20,043 | 12/31/2019 |
| Jefferies Group LLC | | $18,727 | 12/31/2019 |
| NOTE 0 | 8,139,000 | $12,486 | 12/31/2019 |
| Call | 55,400 | $5,445 | 12/31/2019 |
| TWLO | 23,093 | $2,270 | 12/31/2019 |
| Put | 15,000 | $1,474 | 12/31/2019 |
| National Pension Service | 186,948 | $18,373 | 12/31/2019 |
| TWLO | 186,948 | $18,373 | 12/31/2019 |
| Janus Henderson Group PLC | 179,531 | $17,643 | 12/31/2019 |
| TWLO | 179,531 | $17,643 | 12/31/2019 |
| Mirae Asset Global Investments Co. Ltd. | 176,563 | $17,353 | 12/31/2019 |
| TWLO | 176,563 | $17,353 | 12/31/2019 |
| Honeycomb Asset Management LP | 175,000 | $17,199 | 12/31/2019 |
| TWLO | 175,000 | $17,199 | 12/31/2019 |
| Bank of Montreal Can | | $17,140 | 12/31/2019 |
| TWLO | 207,107 | $20,354 | 12/31/2019 |
| Put | 127,700 | $12,551 | 12/31/2019 |
| Call | 95,000 | $9,337 | 12/31/2019 |
| Northwestern Mutual Wealth Management Co. | 174,381 | $17,138 | 12/31/2019 |
| TWLO | 174,381 | $17,138 | 12/31/2019 |
| Caisse DE Depot ET Placement DU Quebec | 174,000 | $17,101 | 12/31/2019 |
| TWLO | 174,000 | $17,101 | 12/31/2019 |
| Neuberger Berman Group LLC | 163,518 | $16,071 | 12/31/2019 |
| TWLO | 163,518 | $16,071 | 12/31/2019 |
| State Board of Administration of Florida Retirement System | 162,940 | $16,014 | 12/31/2019 |
| TWLO | 162,940 | $16,014 | 12/31/2019 |
| Putnam Investments LLC | | $15,773 | 12/31/2019 |
| TWLO | 89,888 | $8,834 | 12/31/2019 |
| CONV | 4,546,000 | $6,939 | 12/31/2019 |
| Parallax Volatility Advisers L.P. | | $15,454 | 12/31/2019 |
| Call | 212,700 | $20,903 | 12/31/2019 |
| Put | 102,900 | $10,114 | 12/31/2019 |
| TWLO | 47,465 | $4,665 | 12/31/2019 |
| Zweig DiMenna Associates LLC | 154,995 | $15,233 | 12/31/2019 |
| TWLO | 154,995 | $15,233 | 12/31/2019 |
| Formula Growth Ltd. | 153,312 | $15,068 | 12/31/2019 |
| TWLO | 153,312 | $15,068 | 12/31/2019 |
| Ilmarinen Mutual Pension Insurance Co | 150,000 | $14,742 | 12/31/2019 |
| TWLO | 150,000 | $14,742 | 12/31/2019 |
| ARK Investment Management LLC | 149,177 | $14,661 | 12/31/2019 |
| TWLO | 149,177 | $14,661 | 12/31/2019 |
| Cowbird Capital LP | 148,118 | $14,557 | 12/31/2019 |
| TWLO | 148,118 | $14,557 | 12/31/2019 |
| Credit Suisse AG | | $14,383 | 12/31/2019 |
| TWLO | 116,352 | $11,435 | 12/31/2019 |
| Call | 30,000 | $2,948 | 12/31/2019 |
| Parametric Portfolio Associates LLC | 146,240 | $14,372 | 12/31/2019 |
| TWLO | 146,240 | $14,372 | 12/31/2019 |
| Strs Ohio | 144,666 | $14,217 | 12/31/2019 |
| TWLO | 144,666 | $14,217 | 12/31/2019 |
| TD Asset Management Inc. | 141,185 | $13,876 | 12/31/2019 |
| TWLO | 141,185 | $13,876 | 12/31/2019 |
| Firsthand Capital Management Inc. | 140,000 | $13,759 | 12/31/2019 |
| TWLO | 140,000 | $13,759 | 12/31/2019 |
| Atreides Management LP | 138,935 | $13,655 | 12/31/2019 |
| TWLO | 138,935 | $13,655 | 12/31/2019 |
| Rhumbline Advisers | 134,349 | $13,204 | 12/31/2019 |
| TWLO | 134,349 | $13,204 | 12/31/2019 |
| Simplex Trading LLC | | $13,160 | 12/31/2019 |
| Call | 2,680 | $26,339 | 12/31/2019 |
| Put | 1,341 | $13,179 | 12/31/2019 |
| Marsico Capital Management LLC | 128,609 | $12,640 | 12/31/2019 |
| TWLO | 128,609 | $12,640 | 12/31/2019 |
| Oberndorf William E | 127,774 | $12,558 | 12/31/2019 |
| TWLO | 127,774 | $12,558 | 12/31/2019 |
| Barclays PLC | | $12,395 | 12/31/2019 |
| Put | 174,200 | $17,120 | 12/31/2019 |
| TWLO | 168,092 | $16,521 | 12/31/2019 |
| Call | 71,000 | $6,978 | 12/31/2019 |
| BOND | 3,929,000 | $6,016 | 12/31/2019 |
| Balyasny Asset Management LLC | | $12,298 | 12/31/2019 |
| TWLO | 102,141 | $10,038 | 12/31/2019 |
| Call | 23,000 | $2,260 | 12/31/2019 |
| BNP Paribas Arbitrage SA | | $12,244 | 12/31/2019 |
| BOND | 5,156,000 | $7,870 | 12/31/2019 |
| TWLO | 52,109 | $5,121 | 12/31/2019 |
| Put | 76 | $747 | 12/31/2019 |
| Melqart Asset Management UK Ltd | 120,000 | $11,794 | 12/31/2019 |
| TWLO | 120,000 | $11,794 | 12/31/2019 |
| Mackay Shields LLC | | $11,371 | 12/31/2019 |
| NOTE 0 | 7,437,000 | $11,371 | 12/31/2019 |
| Seven Eight Capital LP | 109,710 | $10,782 | 12/31/2019 |
| TWLO | 109,710 | $10,782 | 12/31/2019 |
| Lucha Capital Management LP | 98,020 | $10,778 | 09/30/2019 |
| TWLO | 98,020 | $10,778 | 09/30/2019 |
| Railway Pension Investments Ltd | 109,654 | $10,777 | 12/31/2019 |
| TWLO | 109,654 | $10,777 | 12/31/2019 |
| Ashford Capital Management Inc. | 105,858 | $10,404 | 12/31/2019 |
| TWLO | 105,858 | $10,404 | 12/31/2019 |
| AXA | 104,756 | $10,296 | 12/31/2019 |
| TWLO | 104,756 | $10,296 | 12/31/2019 |
| Wolverine Trading LLC | | $10,184 | 12/31/2019 |
| Call | 208,700 | $20,409 | 12/31/2019 |
| Put | 142,400 | $13,925 | 12/31/2019 |
| TWLO | 37,839 | $3,700 | 12/31/2019 |
| Alliancebernstein L.P. | 102,662 | $10,090 | 12/31/2019 |
| TWLO | 102,662 | $10,090 | 12/31/2019 |
| Mn Services Vermogensbeheer B.V. | 100,700 | $9,897 | 12/31/2019 |
| TWLO | 100,700 | $9,897 | 12/31/2019 |
| Oak Grove Capital LLC | 100,580 | $9,885 | 12/31/2019 |
| TWLO | 100,580 | $9,885 | 12/31/2019 |
| Raymond James & Associates | 97,616 | $9,594 | 12/31/2019 |
| TWLO | 97,616 | $9,594 | 12/31/2019 |
| Jeneq Management LP | 94,400 | $9,278 | 12/31/2019 |
| TWLO | 94,400 | $9,278 | 12/31/2019 |
| Royal Bank of Canada | | $9,169 | 12/31/2019 |
| TWLO | 90,467 | $8,891 | 12/31/2019 |
| NOTE 0 | 182,000 | $278 | 12/31/2019 |
| Duquesne Family Office LLC | 91,974 | $9,039 | 12/31/2019 |
| TWLO | 91,974 | $9,039 | 12/31/2019 |
| ExodusPoint Capital Management LP | | $9,017 | 12/31/2019 |
| TWLO | 61,752 | $6,069 | 12/31/2019 |
| Call | 30,000 | $2,948 | 12/31/2019 |
| TCW Group Inc. | 90,838 | $8,927 | 12/31/2019 |
| TWLO | 90,838 | $8,927 | 12/31/2019 |
| Stony Point Capital LLC | 86,916 | $8,542 | 12/31/2019 |
| TWLO | 86,916 | $8,542 | 12/31/2019 |
| State of New Jersey Common Pension Fund D | 84,000 | $8,256 | 12/31/2019 |
| TWLO | 84,000 | $8,256 | 12/31/2019 |
| Allen Investment Management LLC | 83,400 | $8,197 | 12/31/2019 |
| TWLO | 83,400 | $8,197 | 12/31/2019 |
| Mitsubishi UFJ Trust & Banking Corp | 83,059 | $8,163 | 12/31/2019 |
| TWLO | 83,059 | $8,163 | 12/31/2019 |
| Gilder Gagnon Howe & Co. LLC | 81,233 | $7,984 | 12/31/2019 |
| TWLO | 81,233 | $7,984 | 12/31/2019 |
| Ardsley Advisory Partners LP | | $7,908 | 12/31/2019 |
| TWLO | 76,500 | $7,515 | 12/31/2019 |
| Call | 4,000 | $393 | 12/31/2019 |
| APG Asset Management N.V. | 86,041 | $7,533 | 12/31/2019 |
| TWLO | 86,041 | $7,533 | 12/31/2019 |
| Tudor Investment Corp ET AL | 72,637 | $7,139 | 12/31/2019 |
| TWLO | 72,637 | $7,139 | 12/31/2019 |
| EULAV Asset Management | 71,000 | $6,978 | 12/31/2019 |
| TWLO | 71,000 | $6,978 | 12/31/2019 |
| Squarepoint Ops LLC | 67,298 | $6,614 | 12/31/2019 |
| TWLO | 67,298 | $6,614 | 12/31/2019 |
| Dai Ichi Life Insurance Company Ltd | 65,073 | $6,395 | 12/31/2019 |
| TWLO | 65,073 | $6,395 | 12/31/2019 |
| Corvex Management LP | 64,732 | $6,362 | 12/31/2019 |
| TWLO | 64,732 | $6,362 | 12/31/2019 |
| Hamilton Lane Advisors LLC | 63,287 | $6,220 | 12/31/2019 |
| TWLO | 63,287 | $6,220 | 12/31/2019 |
| PointState Capital LP | 62,846 | $6,177 | 12/31/2019 |
| TWLO | 62,846 | $6,177 | 12/31/2019 |
| Stifel Financial Corp | 62,082 | $6,096 | 12/31/2019 |
| TWLO | 62,082 | $6,096 | 12/31/2019 |
| Man Group plc | 60,376 | $5,934 | 12/31/2019 |
| TWLO | 60,376 | $5,934 | 12/31/2019 |
| Nicholas Company Inc. | 60,025 | $5,899 | 12/31/2019 |
| TWLO | 60,025 | $5,899 | 12/31/2019 |
| CSS LLC IL | | $5,872 | 12/31/2019 |
| NOTE 0 | 4,408,000 | $6,756 | 12/31/2019 |
| Put | 9,000 | $884 | 12/31/2019 |
| Advent Capital Management DE | | $5,864 | 12/31/2019 |
| CONV | 3,829,000 | $5,864 | 12/31/2019 |
| Mitsubishi UFJ Kokusai Asset Management Co. Ltd. | 56,089 | $5,806 | 12/31/2019 |
| TWLO | 56,089 | $5,806 | 12/31/2019 |
| Lord Abbett & CO. LLC | 59,043 | $5,803 | 12/31/2019 |
| TWLO | 59,043 | $5,803 | 12/31/2019 |
| Palisade Capital Management LLC NJ | | $5,641 | 12/31/2019 |
| NOTE 0 | 3,676,000 | $5,641 | 12/31/2019 |
| Baird Financial Group Inc. | 53,902 | $5,297 | 12/31/2019 |
| TWLO | 53,902 | $5,297 | 12/31/2019 |
| Gabelli Funds LLC | | $5,266 | 12/31/2019 |
| CONVERTIBLE BOND | 3,450,000 | $5,266 | 12/31/2019 |
| Pragma Gestao DE Patrimonio Ltd. | 53,000 | $5,209 | 12/31/2019 |
| TWLO | 53,000 | $5,209 | 12/31/2019 |
| Hodges Capital Management Inc. | 52,159 | $5,126 | 12/31/2019 |
| TWLO | 52,159 | $5,126 | 12/31/2019 |
| Ratan Capital Management LP | 52,000 | $5,111 | 12/31/2019 |
| TWLO | 52,000 | $5,111 | 12/31/2019 |
| Archon Partners LLC | 51,800 | $5,091 | 12/31/2019 |
| TWLO | 51,800 | $5,091 | 12/31/2019 |
| Commonwealth Equity Services LLC | 51,132 | $5,025 | 12/31/2019 |
| TWLO | 51,132 | $5,025 | 12/31/2019 |
| Atlas Principals LLC | 51,000 | $5,012 | 12/31/2019 |
| TWLO | 51,000 | $5,012 | 12/31/2019 |
| LA Financiere DE L Echiquier | 50,923 | $5,005 | 12/31/2019 |
| TWLO | 50,923 | $5,005 | 12/31/2019 |
| Portolan Capital Management LLC | 49,458 | $4,861 | 12/31/2019 |
| TWLO | 49,458 | $4,861 | 12/31/2019 |
| Fjarde AP Fonden Fourth Swedish National Pension Fund | 48,692 | $4,785 | 12/31/2019 |
| TWLO | 48,692 | $4,785 | 12/31/2019 |
| Atom Investors LP | 48,234 | $4,740 | 12/31/2019 |
| TWLO | 48,234 | $4,740 | 12/31/2019 |
| Royal London Asset Management Ltd. | 47,805 | $4,675 | 12/31/2019 |
| TWLO | 47,805 | $4,675 | 12/31/2019 |
| Kore Private Wealth LLC | 46,219 | $4,542 | 12/31/2019 |
| TWLO | 46,219 | $4,542 | 12/31/2019 |
| Bollard Group LLC | 46,150 | $4,536 | 12/31/2019 |
| TWLO | 46,150 | $4,536 | 12/31/2019 |
| ArrowMark Colorado Holdings LLC | 45,887 | $4,510 | 12/31/2019 |
| TWLO | 45,887 | $4,510 | 12/31/2019 |
| LPL Financial LLC | 45,761 | $4,497 | 12/31/2019 |
| TWLO | 45,761 | $4,497 | 12/31/2019 |
| Great West Life Assurance Co. Can | 45,687 | $4,456 | 12/31/2019 |
| TWLO | 45,687 | $4,456 | 12/31/2019 |
| Voya Investment Management LLC | 45,100 | $4,432 | 12/31/2019 |
| TWLO | 45,100 | $4,432 | 12/31/2019 |
| Cutler Group LP | | $4,379 | 12/31/2019 |
| TWLO | 58,460 | $5,745 | 12/31/2019 |
| Put | 166,000 | $1,566 | 12/31/2019 |
| Call | 54,900 | $200 | 12/31/2019 |
| Ladenburg Thalmann Financial Services Inc. | 44,208 | $4,307 | 12/31/2019 |
| TWLO | 44,208 | $4,307 | 12/31/2019 |
| Hsbc Holdings PLC | 43,657 | $4,291 | 12/31/2019 |
| TWLO | 43,657 | $4,291 | 12/31/2019 |
| Xcel Wealth Management LLC | 42,590 | $4,185 | 12/31/2019 |
| TWLO | 42,590 | $4,185 | 12/31/2019 |
| Aviva PLC | 42,387 | $4,166 | 12/31/2019 |
| TWLO | 42,387 | $4,166 | 12/31/2019 |
| UBS Group AG | | $4,127 | 12/31/2019 |
| TWLO | 120,488 | $11,842 | 12/31/2019 |
| Put | 113,500 | $11,155 | 12/31/2019 |
| Call | 35,000 | $3,440 | 12/31/2019 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main | 42,000 | $4,107 | 12/31/2019 |
| TWLO | 42,000 | $4,107 | 12/31/2019 |
| Public Employees Retirement System of Ohio | 41,417 | $4,070 | 12/31/2019 |
| TWLO | 41,417 | $4,070 | 12/31/2019 |
| Aequim Alternative Investments LP | 40,600 | $3,990 | 12/31/2019 |
| TWLO | 40,600 | $3,990 | 12/31/2019 |
| Calamos Wealth Management LLC | | $3,982 | 12/31/2019 |
| TWLO | 38,855 | $3,819 | 12/31/2019 |
| CONVERTIBLE SECURITY | 106,000 | $163 | 12/31/2019 |
| Granahan Investment Management Inc. MA | 40,074 | $3,938 | 12/31/2019 |
| TWLO | 40,074 | $3,938 | 12/31/2019 |
| First Washington CORP | 40,063 | $3,937 | 12/31/2019 |
| TWLO | 40,063 | $3,937 | 12/31/2019 |
| JS Capital Management LLC | 40,000 | $3,931 | 12/31/2019 |
| TWLO | 40,000 | $3,931 | 12/31/2019 |
| Sei Investments Co. | | $3,904 | 12/31/2019 |
| TWLO | 38,639 | $3,797 | 12/31/2019 |
| NOTE 0 | 70,000 | $107 | 12/31/2019 |
| Forte Capital LLC ADV | 39,631 | $3,895 | 12/31/2019 |
| TWLO | 39,631 | $3,895 | 12/31/2019 |
| Alkeon Capital Management LLC | | $3,829 | 12/31/2019 |
| NOTE 0 | 2,500,000 | $3,829 | 12/31/2019 |
| Kopp Investment Advisors LLC | 34,263 | $3,768 | 09/30/2019 |
| TWLO | 34,263 | $3,768 | 09/30/2019 |
| Truist Financial Corp | 37,601 | $3,696 | 12/31/2019 |
| TWLO | 37,601 | $3,696 | 12/31/2019 |
| Paloma Partners Management Co | | $3,659 | 12/31/2019 |
| TWLO | 29,824 | $2,931 | 12/31/2019 |
| Call | 20,000 | $1,966 | 12/31/2019 |
| Put | 12,600 | $1,238 | 12/31/2019 |
| Nordea Investment Management AB | 37,458 | $3,659 | 12/31/2019 |
| TWLO | 37,458 | $3,659 | 12/31/2019 |
| AMP Capital Investors Ltd | 36,200 | $3,540 | 12/31/2019 |
| TWLO | 36,200 | $3,540 | 12/31/2019 |
| Aigen Investment Management LP | 35,975 | $3,536 | 12/31/2019 |
| TWLO | 35,975 | $3,536 | 12/31/2019 |
| Ieq Capital LLC | 34,122 | $3,354 | 12/31/2019 |
| TWLO | 34,122 | $3,354 | 12/31/2019 |
| Bessemer Group Inc. | 33,313 | $3,274 | 12/31/2019 |
| TWLO | 33,313 | $3,274 | 12/31/2019 |
| PNC Financial Services Group Inc. | 32,975 | $3,241 | 12/31/2019 |
| TWLO | 32,975 | $3,241 | 12/31/2019 |
| Advisors Asset Management Inc. | 32,652 | $3,209 | 12/31/2019 |
| TWLO | 32,652 | $3,209 | 12/31/2019 |
| Shenkman Capital Management Inc. | | $3,137 | 12/31/2019 |
| NOTE 0 | 2,039,000 | $3,137 | 12/31/2019 |
| Raymond James Financial Services Advisors Inc. | 30,794 | $3,026 | 12/31/2019 |
| TWLO | 30,794 | $3,026 | 12/31/2019 |
| Crestwood Advisors Group LLC | 30,540 | $3,001 | 12/31/2019 |
| TWLO | 30,540 | $3,001 | 12/31/2019 |
| Makena Capital Management LLC | 30,423 | $2,990 | 12/31/2019 |
| TWLO | 30,423 | $2,990 | 12/31/2019 |
| AGF Investments Inc. | 30,000 | $2,948 | 12/31/2019 |
| TWLO | 30,000 | $2,948 | 12/31/2019 |
| Avalon Global Asset Management LLC | | $2,948 | 12/31/2019 |
| Call | 30,000 | $2,948 | 12/31/2019 |
| Telemark Asset Management LLC | 30,000 | $2,948 | 12/31/2019 |
| TWLO | 30,000 | $2,948 | 12/31/2019 |
| Frontier Investment Mgmt Co. | 29,925 | $2,941 | 12/31/2019 |
| TWLO | 29,925 | $2,941 | 12/31/2019 |
| Treasurer of the State of North Carolina | 29,604 | $2,909 | 12/31/2019 |
| TWLO | 29,604 | $2,909 | 12/31/2019 |
| Centaurus Financial Inc. | 28,550 | $2,806 | 12/31/2019 |
| TWLO | 28,550 | $2,806 | 12/31/2019 |
| Virtu Financial LLC | 28,341 | $2,785 | 12/31/2019 |
| TWLO | 28,341 | $2,785 | 12/31/2019 |
| RiverPark Advisors LLC | 28,188 | $2,770 | 12/31/2019 |
| TWLO | 28,188 | $2,770 | 12/31/2019 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp | 27,208 | $2,674 | 12/31/2019 |
| TWLO | 27,208 | $2,674 | 12/31/2019 |
| Zurcher Kantonalbank Zurich Cantonalbank | 26,966 | $2,650 | 12/31/2019 |
| TWLO | 26,966 | $2,650 | 12/31/2019 |
| Aperio Group LLC | 26,809 | $2,635 | 12/31/2019 |
| TWLO | 26,809 | $2,635 | 12/31/2019 |
| Gulf International Bank UK Ltd | 26,229 | $2,577 | 12/31/2019 |
| TWLO | 26,229 | $2,577 | 12/31/2019 |
| Sterling Capital Management LLC | 23,080 | $2,538 | 09/30/2019 |
| TWLO | 23,080 | $2,538 | 09/30/2019 |
| AE Wealth Management LLC | 25,818 | $2,537 | 12/31/2019 |
| TWLO | 25,818 | $2,537 | 12/31/2019 |
| State of Alaska Department of Revenue | 25,389 | $2,495 | 12/31/2019 |
| TWLO | 25,389 | $2,495 | 12/31/2019 |
| Macquarie Group Ltd. | 25,313 | $2,487 | 12/31/2019 |
| TWLO | 25,313 | $2,487 | 12/31/2019 |
| Blueshift Asset Management LLC | 25,018 | $2,459 | 12/31/2019 |
| TWLO | 25,018 | $2,459 | 12/31/2019 |
| Teamwork Financial Advisors LLC | 24,654 | $2,423 | 12/31/2019 |
| TWLO | 24,654 | $2,423 | 12/31/2019 |
| Xact Kapitalforvaltning AB | 24,518 | $2,409 | 12/31/2019 |
| TWLO | 24,518 | $2,409 | 12/31/2019 |
| Gateway Investment Advisers LLC | 24,322 | $2,390 | 12/31/2019 |
| TWLO | 24,322 | $2,390 | 12/31/2019 |
| Mission Creek Capital Partners Inc. | 24,279 | $2,386 | 12/31/2019 |
| TWLO | 24,279 | $2,386 | 12/31/2019 |
| Cambridge Investment Research Advisors Inc. | 24,015 | $2,360 | 12/31/2019 |
| TWLO | 24,015 | $2,360 | 12/31/2019 |
| Pinz Capital Management LP | 24,000 | $2,359 | 12/31/2019 |
| TWLO | 24,000 | $2,359 | 12/31/2019 |
| Utah Retirement Systems | 23,364 | $2,296 | 12/31/2019 |
| TWLO | 23,364 | $2,296 | 12/31/2019 |
| Arizona State Retirement System | 22,939 | $2,254 | 12/31/2019 |
| TWLO | 22,939 | $2,254 | 12/31/2019 |
| Tocqueville Asset Management L.P. | 22,660 | $2,227 | 12/31/2019 |
| TWLO | 22,660 | $2,227 | 12/31/2019 |
| Riverpark Capital Management LLC | 22,556 | $2,217 | 12/31/2019 |
| TWLO | 22,556 | $2,217 | 12/31/2019 |
| Parkwood LLC | 22,514 | $2,213 | 12/31/2019 |
| TWLO | 22,514 | $2,213 | 12/31/2019 |
| Staley Capital Advisers Inc. | 22,500 | $2,211 | 12/31/2019 |
| TWLO | 22,500 | $2,211 | 12/31/2019 |
| Comerica Bank | 17,605 | $2,197 | 12/31/2019 |
| TWLO | 17,605 | $2,197 | 12/31/2019 |
| Burleson & Company LLC | 18,333 | $2,184 | 12/31/2019 |
| TWLO | 18,333 | $2,184 | 12/31/2019 |
| Peloton Wealth Strategists | 22,136 | $2,176 | 12/31/2019 |
| TWLO | 22,136 | $2,176 | 12/31/2019 |
| Nicholas Investment Partners LP | | $2,166 | 12/31/2019 |
| TWLO | 11,949 | $1,174 | 12/31/2019 |
| NOTE 0 | 650,000 | $992 | 12/31/2019 |
| Envestnet Asset Management Inc. | 21,890 | $2,151 | 12/31/2019 |
| TWLO | 21,890 | $2,151 | 12/31/2019 |
| Luxor Capital Group LP | 21,500 | $2,113 | 12/31/2019 |
| TWLO | 21,500 | $2,113 | 12/31/2019 |
| Whetstone Capital Advisors LLC | 21,193 | $2,083 | 12/31/2019 |
| TWLO | 21,193 | $2,083 | 12/31/2019 |
| Private Advisors LLC | 21,193 | $2,083 | 12/31/2019 |
| TWLO | 21,193 | $2,083 | 12/31/2019 |
| KBC Group NV | 20,774 | $2,042 | 12/31/2019 |
| TWLO | 20,774 | $2,042 | 12/31/2019 |
| Bfsg LLC | 20,120 | $1,977 | 12/31/2019 |
| TWLO | 20,120 | $1,977 | 12/31/2019 |
| Capital Fund Management S.A. | | $1,966 | 12/31/2019 |
| Call | 105,800 | $10,398 | 12/31/2019 |
| Put | 85,800 | $8,432 | 12/31/2019 |
| Cubist Systematic Strategies LLC | 19,962 | $1,962 | 12/31/2019 |
| TWLO | 19,962 | $1,962 | 12/31/2019 |
| Toronto Dominion Bank | 19,909 | $1,956 | 12/31/2019 |
| TWLO | 19,909 | $1,956 | 12/31/2019 |
| AQR Capital Management LLC | 19,902 | $1,944 | 12/31/2019 |
| TWLO | 19,902 | $1,944 | 12/31/2019 |
| Nomura Asset Management Co. Ltd. | 19,577 | $1,924 | 12/31/2019 |
| TWLO | 19,577 | $1,924 | 12/31/2019 |
| Amalgamated Bank | 19,409 | $1,908 | 12/31/2019 |
| TWLO | 19,409 | $1,908 | 12/31/2019 |
| Group One Trading L.P. | | $1,838 | 12/31/2019 |
| Call | 108,900 | $10,703 | 12/31/2019 |
| Put | 99,100 | $9,740 | 12/31/2019 |
| TWLO | 8,899 | $875 | 12/31/2019 |
| First Republic Investment Management Inc. | 18,509 | $1,819 | 12/31/2019 |
| TWLO | 18,509 | $1,819 | 12/31/2019 |
| Advisor Group Inc. | | $1,809 | 12/31/2019 |
| TWLO | 18,375 | $1,804 | 12/31/2019 |
| NOTE 0 | 3 | $5 | 12/31/2019 |
| Hudson Bay Capital Management LP | 18,400 | $1,808 | 12/31/2019 |
| TWLO | 18,400 | $1,808 | 12/31/2019 |
| Capital Impact Advisors LLC | 17,683 | $1,738 | 12/31/2019 |
| TWLO | 17,683 | $1,738 | 12/31/2019 |
| Sage Rhino Capital LLC | 14,954 | $1,731 | 12/31/2019 |
| TWLO | 14,954 | $1,731 | 12/31/2019 |
| Catalyst Capital Advisors LLC | 17,300 | $1,700 | 12/31/2019 |
| TWLO | 17,300 | $1,700 | 12/31/2019 |
| Engineers Gate Manager LP | 17,005 | $1,671 | 12/31/2019 |
| TWLO | 17,005 | $1,671 | 12/31/2019 |
| Tiverton Asset Management LLC | 15,146 | $1,665 | 09/30/2019 |
| TWLO | 15,146 | $1,665 | 09/30/2019 |
| Bailard Inc. | 16,780 | $1,649 | 12/31/2019 |
| TWLO | 16,780 | $1,649 | 12/31/2019 |
| Skandinaviska Enskilda Banken AB publ | 16,375 | $1,609 | 12/31/2019 |
| TWLO | 16,375 | $1,609 | 12/31/2019 |
| BW Gestao de Investimentos Ltda. | 15,800 | $1,553 | 12/31/2019 |
| TWLO | 15,800 | $1,553 | 12/31/2019 |
| Standard Life Aberdeen plc | 15,796 | $1,552 | 12/31/2019 |
| TWLO | 15,796 | $1,552 | 12/31/2019 |
| Taylor Frigon Capital Management LLC | 15,668 | $1,540 | 12/31/2019 |
| TWLO | 15,668 | $1,540 | 12/31/2019 |
| HighTower Advisors LLC | 15,451 | $1,521 | 12/31/2019 |
| TWLO | 15,451 | $1,521 | 12/31/2019 |
| Potrero Capital Research LLC | 15,000 | $1,474 | 12/31/2019 |
| TWLO | 15,000 | $1,474 | 12/31/2019 |
| Schonfeld Strategic Advisors LLC | 14,700 | $1,445 | 12/31/2019 |
| TWLO | 14,700 | $1,445 | 12/31/2019 |
| Migdal Insurance & Financial Holdings Ltd. | 14,313 | $1,407 | 12/31/2019 |
| TWLO | 14,313 | $1,407 | 12/31/2019 |
| Banco Bilbao Vizcaya Argentaria S.A. | 14,310 | $1,406 | 12/31/2019 |
| TWLO | 14,310 | $1,406 | 12/31/2019 |
| Lyell Wealth Management LP | 14,235 | $1,399 | 12/31/2019 |
| TWLO | 14,235 | $1,399 | 12/31/2019 |
| Pathstone Family Office LLC | 13,688 | $1,345 | 12/31/2019 |
| TWLO | 13,688 | $1,345 | 12/31/2019 |
| Public Employees Retirement Association of Colorado | 13,620 | $1,339 | 12/31/2019 |
| TWLO | 13,620 | $1,339 | 12/31/2019 |
| Jag Capital Management LLC | 13,400 | $1,317 | 12/31/2019 |
| TWLO | 13,400 | $1,317 | 12/31/2019 |
| Equitable Holdings Inc. | 13,110 | $1,288 | 12/31/2019 |
| TWLO | 13,110 | $1,288 | 12/31/2019 |
| First Citizens Bank & Trust Co. | 11,309 | $1,244 | 12/31/2019 |
| TWLO | 11,309 | $1,244 | 12/31/2019 |
| Parker Investment Management LLC | 12,656 | $1,244 | 12/31/2019 |
| TWLO | 12,656 | $1,244 | 12/31/2019 |
| Belpointe Asset Management LLC | 12,650 | $1,243 | 12/31/2019 |
| TWLO | 12,650 | $1,243 | 12/31/2019 |
| DNB Asset Management AS | 12,388 | $1,217 | 12/31/2019 |
| TWLO | 12,388 | $1,217 | 12/31/2019 |
| Jackson Wealth Management LLC | 10,000 | $1,210 | 12/31/2019 |
| TWLO | 10,000 | $1,210 | 12/31/2019 |
| Creative Planning | | $1,138 | 12/31/2019 |
| TWLO | 11,573 | $1,137 | 12/31/2019 |
| Call | 600 | $1 | 12/31/2019 |
| B. Riley Wealth Management Inc. | 11,442 | $1,124 | 12/31/2019 |
| TWLO | 11,442 | $1,124 | 12/31/2019 |
| Brandywine Managers LLC | 11,280 | $1,109 | 12/31/2019 |
| TWLO | 11,280 | $1,109 | 12/31/2019 |
| Janney Montgomery Scott LLC | 11,186 | $1,099 | 12/31/2019 |
| TWLO | 11,186 | $1,099 | 12/31/2019 |
| Ensign Peak Advisors Inc | 10,985 | $1,081 | 12/31/2019 |
| TWLO | 10,985 | $1,081 | 12/31/2019 |
| Oppenheimer & Co. Inc. | 10,937 | $1,075 | 12/31/2019 |
| TWLO | 10,937 | $1,075 | 12/31/2019 |
| IFM Investors Pty Ltd | 10,850 | $1,066 | 12/31/2019 |
| TWLO | 10,850 | $1,066 | 12/31/2019 |
| Deltec Asset Management LLC | 10,827 | $1,064 | 12/31/2019 |
| TWLO | 10,827 | $1,064 | 12/31/2019 |
| A.R.T. Advisors LLC | 10,775 | $1,059 | 12/31/2019 |
| TWLO | 10,775 | $1,059 | 12/31/2019 |
| Ocean Capital Management LLC | 10,479 | $1,030 | 12/31/2019 |
| TWLO | 10,479 | $1,030 | 12/31/2019 |
| Sigma Planning Corp | 9,882 | $971 | 12/31/2019 |
| TWLO | 9,882 | $971 | 12/31/2019 |
| Candriam Luxembourg S.C.A. | 9,685 | $952 | 12/31/2019 |
| TWLO | 9,685 | $952 | 12/31/2019 |
| Rational Advisors LLC | 9,680 | $951 | 12/31/2019 |
| TWLO | 9,680 | $951 | 12/31/2019 |
| Slow Capital Inc. | 9,628 | $946 | 12/31/2019 |
| TWLO | 9,628 | $946 | 12/31/2019 |
| Tributary Capital Management LLC | 9,600 | $943 | 12/31/2019 |
| TWLO | 9,600 | $943 | 12/31/2019 |
| Sheaff Brock Investment Advisors LLC | 9,540 | $938 | 12/31/2019 |
| TWLO | 9,540 | $938 | 12/31/2019 |
| Dfpg Investments LLC | 7,814 | $937 | 12/31/2019 |
| TWLO | 7,814 | $937 | 12/31/2019 |
| Nissay Asset Management Corp Japan ADV | 9,489 | $933 | 12/31/2019 |
| TWLO | 9,489 | $933 | 12/31/2019 |
| Piedmont Investment Advisors Inc. | 9,145 | $899 | 12/31/2019 |
| TWLO | 9,145 | $899 | 12/31/2019 |
| Dynamic Technology Lab Private Ltd | 8,969 | $881 | 12/31/2019 |
| TWLO | 8,969 | $881 | 12/31/2019 |
| Metropolitan Life Insurance Co NY | 8,869 | $872 | 12/31/2019 |
| TWLO | 8,869 | $872 | 12/31/2019 |
| Meitav Dash Investments Ltd. | 8,821 | $867 | 12/31/2019 |
| TWLO | 8,821 | $867 | 12/31/2019 |
| Twinbeech Capital LP | 8,695 | $855 | 12/31/2019 |
| TWLO | 8,695 | $855 | 12/31/2019 |
| Mid Atlantic Financial Management Inc. ADV | 8,643 | $849 | 12/31/2019 |
| TWLO | 8,643 | $849 | 12/31/2019 |
| Suntrust Banks Inc. | 7,383 | $812 | 09/30/2019 |
| TWLO | 7,383 | $812 | 09/30/2019 |
| AlphaCrest Capital Management LLC | 7,800 | $767 | 12/31/2019 |
| TWLO | 7,800 | $767 | 12/31/2019 |
| Westpac Banking Corp | 7,562 | $743 | 12/31/2019 |
| TWLO | 7,562 | $743 | 12/31/2019 |
| NEXT Financial Group Inc | 7,545 | $742 | 12/31/2019 |
| TWLO | 7,545 | $742 | 12/31/2019 |
| Fairfield Bush & CO. | 7,500 | $737 | 12/31/2019 |
| TWLO | 7,500 | $737 | 12/31/2019 |
| Symmetry Peak Management LLC | | $737 | 12/31/2019 |
| Call | 7,500 | $737 | 12/31/2019 |
| SkyOak Wealt LLC | 7,479 | $735 | 12/31/2019 |
| TWLO | 7,479 | $735 | 12/31/2019 |
| Guggenheim Capital LLC | 7,328 | $720 | 12/31/2019 |
| TWLO | 7,328 | $720 | 12/31/2019 |
| Athanor Capital LP | 7,300 | $717 | 12/31/2019 |
| TWLO | 7,300 | $717 | 12/31/2019 |
| Sandy Spring Bank | 7,224 | $710 | 12/31/2019 |
| TWLO | 7,224 | $710 | 12/31/2019 |
| Sloy Dahl & Holst LLC | 7,215 | $709 | 12/31/2019 |
| TWLO | 7,215 | $709 | 12/31/2019 |
| Employees Retirement System of Texas | 7,180 | $706 | 12/31/2019 |
| TWLO | 7,180 | $706 | 12/31/2019 |
| Cetera Advisor Networks LLC | 7,199 | $706 | 12/31/2019 |
| TWLO | 7,199 | $706 | 12/31/2019 |
| Achmea Investment Management B.V. | 7,148 | $703 | 12/31/2019 |
| TWLO | 7,148 | $703 | 12/31/2019 |
| United Capital Financial Advisers LLC | 6,735 | $662 | 12/31/2019 |
| TWLO | 6,735 | $662 | 12/31/2019 |
| Harbour Capital Advisors LLC | 6,710 | $659 | 12/31/2019 |
| TWLO | 6,710 | $659 | 12/31/2019 |
| Kovack Advisors Inc. | 6,571 | $646 | 12/31/2019 |
| TWLO | 6,571 | $646 | 12/31/2019 |
| O Shares Investment Advisers LLC | 6,512 | $640 | 12/31/2019 |
| TWLO | 6,512 | $640 | 12/31/2019 |
| WINTON GROUP Ltd | 6,416 | $631 | 12/31/2019 |
| TWLO | 6,416 | $631 | 12/31/2019 |
| Sunbelt Securities Inc. | 6,306 | $620 | 12/31/2019 |
| TWLO | 6,306 | $620 | 12/31/2019 |
| Moors & Cabot Inc. | 6,236 | $612 | 12/31/2019 |
| TWLO | 6,236 | $612 | 12/31/2019 |
| DekaBank Deutsche Girozentrale | 6,149 | $609 | 12/31/2019 |
| TWLO | 6,149 | $609 | 12/31/2019 |
| NumerixS Investment Technologies Inc | 6,199 | $609 | 12/31/2019 |
| TWLO | 6,199 | $609 | 12/31/2019 |
| Sumitomo Mitsui DS Asset Management Company Ltd | 6,060 | $595 | 12/31/2019 |
| TWLO | 6,060 | $595 | 12/31/2019 |
| King Luther Capital Management Corp | 6,000 | $590 | 12/31/2019 |
| TWLO | 6,000 | $590 | 12/31/2019 |
| ProShare Advisors LLC | 5,943 | $584 | 12/31/2019 |
| TWLO | 5,943 | $584 | 12/31/2019 |
| Glen Harbor Capital Management LLC | 5,270 | $579 | 09/30/2019 |
| TWLO | 5,270 | $579 | 09/30/2019 |
| Andra AP fonden | 5,700 | $560 | 12/31/2019 |
| TWLO | 5,700 | $560 | 12/31/2019 |
| Wedbush Securities Inc. | 5,692 | $559 | 12/31/2019 |
| TWLO | 5,692 | $559 | 12/31/2019 |
| Shell Asset Management Co. | 5,655 | $556 | 12/31/2019 |
| TWLO | 5,655 | $556 | 12/31/2019 |
| Millrace Asset Group Inc. | 5,500 | $541 | 12/31/2019 |
| TWLO | 5,500 | $541 | 12/31/2019 |
| Jasper Ridge Partners L.P. | 5,460 | $537 | 12/31/2019 |
| TWLO | 5,460 | $537 | 12/31/2019 |
| CIBC Asset Management Inc | 5,347 | $526 | 12/31/2019 |
| TWLO | 5,347 | $526 | 12/31/2019 |
| Cerebellum GP LLC | 5,338 | $525 | 12/31/2019 |
| TWLO | 5,338 | $525 | 12/31/2019 |
| Coastal Investment Advisors Inc. | 5,128 | $524 | 12/31/2019 |
| TWLO | 5,128 | $524 | 12/31/2019 |
| Garner Asset Management Corp | 5,145 | $506 | 12/31/2019 |
| TWLO | 5,145 | $506 | 12/31/2019 |
| Canada Pension Plan Investment Board | 5,072 | $498 | 12/31/2019 |
| TWLO | 5,072 | $498 | 12/31/2019 |
| Landsberg Bennett & Dubbaneh LLC | 5,068 | $496 | 12/31/2019 |
| TWLO | 5,068 | $496 | 12/31/2019 |
| CFM Wealth Partners LLC | 4,125 | $493 | 12/31/2019 |
| TWLO | 4,125 | $493 | 12/31/2019 |
| Perigon Wealth Management LLC | 4,570 | $491 | 12/31/2019 |
| TWLO | 4,570 | $491 | 12/31/2019 |
| Optimus Prime Fund Management Co. Ltd. | 5,000 | $491 | 12/31/2019 |
| TWLO | 5,000 | $491 | 12/31/2019 |
| Prudential Financial Inc. | 4,983 | $490 | 12/31/2019 |
| TWLO | 4,983 | $490 | 12/31/2019 |
| HRT Financial LLC | 4,901 | $481 | 12/31/2019 |
| TWLO | 4,901 | $481 | 12/31/2019 |
| L & S Advisors Inc | 4,862 | $478 | 12/31/2019 |
| TWLO | 4,862 | $478 | 12/31/2019 |
| Meadow Creek Investment Management LLC | 4,340 | $477 | 09/30/2019 |
| TWLO | 4,340 | $477 | 09/30/2019 |
| Teton Advisors Inc. | | $458 | 12/31/2019 |
| CONVERTIBLE BOND | 300,000 | $458 | 12/31/2019 |
| Private Advisor Group LLC | 4,647 | $457 | 12/31/2019 |
| TWLO | 4,647 | $457 | 12/31/2019 |
| Eidelman Virant Capital | 4,600 | $452 | 12/31/2019 |
| TWLO | 4,600 | $452 | 12/31/2019 |
| Perennial Investment Advisors LLC | 4,598 | $452 | 12/31/2019 |
| TWLO | 4,598 | $452 | 12/31/2019 |
| Cushing Asset Management LP | 4,569 | $449 | 12/31/2019 |
| TWLO | 4,569 | $449 | 12/31/2019 |
| Rockefeller Capital Management L.P. | 4,554 | $448 | 12/31/2019 |
| TWLO | 4,554 | $448 | 12/31/2019 |
| Cooper Financial Group | 4,496 | $442 | 12/31/2019 |
| TWLO | 4,496 | $442 | 12/31/2019 |
| Daiwa Securities Group Inc. | 4,481 | $440 | 12/31/2019 |
| TWLO | 4,481 | $440 | 12/31/2019 |
| Lido Advisors LLC | 4,384 | $431 | 12/31/2019 |
| TWLO | 4,384 | $431 | 12/31/2019 |
| Alpine Global Management LLC | 4,379 | $430 | 12/31/2019 |
| TWLO | 4,379 | $430 | 12/31/2019 |
| Townsquare Capital LLC | 4,664 | $425 | 09/30/2019 |
| TWLO | 4,664 | $425 | 09/30/2019 |
| CenterStar Asset Management LLC | | $421 | 12/31/2019 |
| TWLO | 4,553 | $445 | 12/31/2019 |
| Put | 13,200 | $26 | 12/31/2019 |
| Call | 700 | $2 | 12/31/2019 |
| Stevens Capital Management LP | 4,277 | $420 | 12/31/2019 |
| TWLO | 4,277 | $420 | 12/31/2019 |
| Boardman Bay Capital Management LLC | 4,264 | $419 | 12/31/2019 |
| TWLO | 4,264 | $419 | 12/31/2019 |
| Kings Point Capital Management | | $418 | 12/31/2019 |
| TWLO | 3,494 | $343 | 12/31/2019 |
| Call | 95 | $75 | 12/31/2019 |
| Zeke Capital Advisors LLC | 4,249 | $418 | 12/31/2019 |
| TWLO | 4,249 | $418 | 12/31/2019 |
| Platinum Investment Management Ltd. | 4,229 | $416 | 12/31/2019 |
| TWLO | 4,229 | $416 | 12/31/2019 |
| Keybank National Association OH | 4,162 | $409 | 12/31/2019 |
| TWLO | 4,162 | $409 | 12/31/2019 |
| Pier Capital LLC | 4,013 | $394 | 12/31/2019 |
| TWLO | 4,013 | $394 | 12/31/2019 |
| K.J. Harrison & Partners Inc | 4,000 | $393 | 12/31/2019 |
| TWLO | 4,000 | $393 | 12/31/2019 |
| Financial Advocates Investment Management | 3,975 | $391 | 12/31/2019 |
| TWLO | 3,975 | $391 | 12/31/2019 |
| First Allied Advisory Services Inc. | 3,958 | $390 | 12/31/2019 |
| TWLO | 3,958 | $390 | 12/31/2019 |
| Banque Cantonale Vaudoise | 3,889 | $382 | 12/31/2019 |
| TWLO | 3,889 | $382 | 12/31/2019 |
| Cerity Partners LLC | 3,876 | $381 | 12/31/2019 |
| TWLO | 3,876 | $381 | 12/31/2019 |
| Elkfork Partners LLC | 3,410 | $375 | 09/30/2019 |
| TWLO | 3,410 | $375 | 09/30/2019 |
| Malaga Cove Capital LLC | 3,756 | $369 | 12/31/2019 |
| TWLO | 3,756 | $369 | 12/31/2019 |
| Atria Investments LLC | 3,697 | $363 | 12/31/2019 |
| TWLO | 3,697 | $363 | 12/31/2019 |
| IHT Wealth Management LLC | 3,672 | $361 | 12/31/2019 |
| TWLO | 3,672 | $361 | 12/31/2019 |
| Cadinha & Co. LLC | 3,650 | $359 | 12/31/2019 |
| TWLO | 3,650 | $359 | 12/31/2019 |
| CIBC Private Wealth Group LLC | 3,625 | $356 | 12/31/2019 |
| TWLO | 3,625 | $356 | 12/31/2019 |
| Steel Peak Wealth Management LLC | 3,620 | $356 | 12/31/2019 |
| TWLO | 3,620 | $356 | 12/31/2019 |
| DAVENPORT & Co LLC | 3,595 | $353 | 12/31/2019 |
| TWLO | 3,595 | $353 | 12/31/2019 |
| Laurel Wealth Advisors Inc. | 3,570 | $351 | 12/31/2019 |
| TWLO | 3,570 | $351 | 12/31/2019 |
| World Asset Management Inc | 3,543 | $348 | 12/31/2019 |
| TWLO | 3,543 | $348 | 12/31/2019 |
| Hollencrest Capital Management | 3,524 | $346 | 12/31/2019 |
| TWLO | 3,524 | $346 | 12/31/2019 |
| Stratos Wealth Partners LTD. | 3,504 | $344 | 12/31/2019 |
| TWLO | 3,504 | $344 | 12/31/2019 |
| OneAscent Financial Services LLC | 3,492 | $343 | 12/31/2019 |
| TWLO | 3,492 | $343 | 12/31/2019 |
| Fernwood Investment Management LLC | 3,450 | $339 | 12/31/2019 |
| TWLO | 3,450 | $339 | 12/31/2019 |
| Parallel Advisors LLC | 3,384 | $333 | 12/31/2019 |
| TWLO | 3,384 | $333 | 12/31/2019 |
| PRW Wealth Management LLC | 3,353 | $330 | 12/31/2019 |
| TWLO | 3,353 | $330 | 12/31/2019 |
| MML Investors Services LLC | 3,343 | $329 | 12/31/2019 |
| TWLO | 3,343 | $329 | 12/31/2019 |
| Principal Financial Group Inc. | 3,344 | $329 | 12/31/2019 |
| TWLO | 3,344 | $329 | 12/31/2019 |
| Scotia Capital Inc. | 3,348 | $329 | 12/31/2019 |
| TWLO | 3,348 | $329 | 12/31/2019 |
| ETRADE Capital Management LLC | 3,353 | $329 | 12/31/2019 |
| TWLO | 3,353 | $329 | 12/31/2019 |
| The Manufacturers Life Insurance Company | 3,281 | $322 | 12/31/2019 |
| TWLO | 3,281 | $322 | 12/31/2019 |
| Sepio Capital LLC | 3,242 | $319 | 12/31/2019 |
| TWLO | 3,242 | $319 | 12/31/2019 |
| M&T Bank Corp | 3,247 | $318 | 12/31/2019 |
| TWLO | 3,247 | $318 | 12/31/2019 |
| People s United Financial Inc. | 3,217 | $316 | 12/31/2019 |
| TWLO | 3,217 | $316 | 12/31/2019 |
| ADI Capital Management LLC | 3,000 | $295 | 12/31/2019 |
| TWLO | 3,000 | $295 | 12/31/2019 |
| FNY Investment Advisers LLC | | $294 | 12/31/2019 |
| TWLO | 3,000 | $294 | 12/31/2019 |
| Put | 2 | $0 | 12/31/2019 |
| Oregon Public Employees Retirement Fund | 2,900 | $285 | 12/31/2019 |
| TWLO | 2,900 | $285 | 12/31/2019 |
| grace capital | 2,900 | $285 | 12/31/2019 |
| TWLO | 2,900 | $285 | 12/31/2019 |
| Enlightenment Research LLC | 2,900 | $285 | 12/31/2019 |
| TWLO | 2,900 | $285 | 12/31/2019 |
| American International Group Inc. | 2,801 | $275 | 12/31/2019 |
| TWLO | 2,801 | $275 | 12/31/2019 |
| Griffin Asset Management Inc. | 2,775 | $273 | 12/31/2019 |
| TWLO | 2,775 | $273 | 12/31/2019 |
| Tyers Asset Management LLC | 2,480 | $273 | 09/30/2019 |
| TWLO | 2,480 | $273 | 09/30/2019 |
| Brighton Jones LLC | 2,769 | $272 | 12/31/2019 |
| TWLO | 2,769 | $272 | 12/31/2019 |
| Benjamin F. Edwards & Company Inc. | 2,740 | $269 | 12/31/2019 |
| TWLO | 2,740 | $269 | 12/31/2019 |
| Beacon Pointe Advisors LLC | 2,739 | $269 | 12/31/2019 |
| TWLO | 2,739 | $269 | 12/31/2019 |
| Chartwell Investment Partners LLC | 2,726 | $268 | 12/31/2019 |
| TWLO | 2,726 | $268 | 12/31/2019 |
| Chevy Chase Trust Holdings Inc. | 2,715 | $267 | 12/31/2019 |
| TWLO | 2,715 | $267 | 12/31/2019 |
| Oakbrook Investments LLC | 2,650 | $260 | 12/31/2019 |
| TWLO | 2,650 | $260 | 12/31/2019 |
| Capital Asset Advisory Services LLC | 2,010 | $252 | 12/31/2019 |
| TWLO | 2,010 | $252 | 12/31/2019 |
| Commerce Bank | 2,524 | $248 | 12/31/2019 |
| TWLO | 2,524 | $248 | 12/31/2019 |
| Alpine Woods Capital Investors LLC | 2,500 | $246 | 12/31/2019 |
| TWLO | 2,500 | $246 | 12/31/2019 |
| BB&T Securities LLC | 2,264 | $246 | 09/30/2019 |
| TWLO | 2,264 | $246 | 09/30/2019 |
| Prospera Financial Services Inc | 2,474 | $243 | 12/31/2019 |
| TWLO | 2,474 | $243 | 12/31/2019 |
| Impax Asset Management Group plc | 2,459 | $242 | 12/31/2019 |
| TWLO | 2,459 | $242 | 12/31/2019 |
| SP Asset Management | 2,350 | $231 | 12/31/2019 |
| TWLO | 2,350 | $231 | 12/31/2019 |
| Synovus Financial Corp | 2,345 | $230 | 12/31/2019 |
| TWLO | 2,345 | $230 | 12/31/2019 |
| Haverford Trust Co. | 2,325 | $229 | 12/31/2019 |
| TWLO | 2,325 | $229 | 12/31/2019 |
| Verition Fund Management LLC | 2,278 | $224 | 12/31/2019 |
| TWLO | 2,278 | $224 | 12/31/2019 |
| Jackson Square Partners LLC | 2,272 | $223 | 12/31/2019 |
| TWLO | 2,272 | $223 | 12/31/2019 |
| CIBC World Markets Inc. | 2,214 | $218 | 12/31/2019 |
| TWLO | 2,214 | $218 | 12/31/2019 |
| National Asset Management Inc. | 2,186 | $216 | 12/31/2019 |
| TWLO | 2,186 | $216 | 12/31/2019 |
| Nwam LLC | 2,183 | $215 | 12/31/2019 |
| TWLO | 2,183 | $215 | 12/31/2019 |
| D.A. Davidson & CO. | 2,180 | $214 | 12/31/2019 |
| TWLO | 2,180 | $214 | 12/31/2019 |
| BOKF NA | 2,144 | $211 | 12/31/2019 |
| TWLO | 2,144 | $211 | 12/31/2019 |
| Jump Trading LLC | 2,139 | $210 | 12/31/2019 |
| TWLO | 2,139 | $210 | 12/31/2019 |
| Two Sigma Securities LLC | | $209 | 12/31/2019 |
| Put | 31,500 | $3,096 | 12/31/2019 |
| Call | 31,200 | $3,066 | 12/31/2019 |
| TWLO | 2,435 | $239 | 12/31/2019 |
| Penserra Capital Management LLC | 1,623 | $207 | 12/31/2019 |
| TWLO | 1,623 | $207 | 12/31/2019 |
| Quantamental Technologies LLC | 2,097 | $206 | 12/31/2019 |
| TWLO | 2,097 | $206 | 12/31/2019 |
| Pearl River Capital LLC | 2,097 | $206 | 12/31/2019 |
| TWLO | 2,097 | $206 | 12/31/2019 |
| Nelson Van Denburg & Campbell Wealth Management Group LLC | 2,070 | $203 | 12/31/2019 |
| TWLO | 2,070 | $203 | 12/31/2019 |
| Marble Harbor Investment Counsel LLC | 2,050 | $201 | 12/31/2019 |
| TWLO | 2,050 | $201 | 12/31/2019 |
| Compagnie Lombard Odier SCmA | | $178 | 12/31/2019 |
| TWLO | 1,820 | $178 | 12/31/2019 |
| Put | 0 | $0 | 12/31/2019 |
| Flagship Harbor Advisors LLC | 1,761 | $173 | 12/31/2019 |
| TWLO | 1,761 | $173 | 12/31/2019 |
| QS Investors LLC | 1,600 | $157 | 12/31/2019 |
| TWLO | 1,600 | $157 | 12/31/2019 |
| Sowell Financial Services LLC | 1,378 | $135 | 12/31/2019 |
| TWLO | 1,378 | $135 | 12/31/2019 |
| Oppenheimer Asset Management Inc. | 1,356 | $133 | 12/31/2019 |
| TWLO | 1,356 | $133 | 12/31/2019 |
| Nisa Investment Advisors LLC | 1,280 | $126 | 12/31/2019 |
| TWLO | 1,280 | $126 | 12/31/2019 |
| Advisory Services Network LLC | 1,251 | $123 | 12/31/2019 |
| TWLO | 1,251 | $123 | 12/31/2019 |
| Valeo Financial Advisors LLC | 1,236 | $121 | 12/31/2019 |
| TWLO | 1,236 | $121 | 12/31/2019 |
| Edmond DE Rothschild Holding S.A. | 1,183 | $116 | 12/31/2019 |
| TWLO | 1,183 | $116 | 12/31/2019 |
| US Bancorp DE | 1,161 | $114 | 12/31/2019 |
| TWLO | 1,161 | $114 | 12/31/2019 |
| CSat Investment Advisory L.P. | 1,154 | $113 | 12/31/2019 |
| TWLO | 1,154 | $113 | 12/31/2019 |
| Steward Partners Investment Advisory LLC | 1,130 | $111 | 12/31/2019 |
| TWLO | 1,130 | $111 | 12/31/2019 |
| Baldwin Brothers Inc. MA | 1,100 | $108 | 12/31/2019 |
| TWLO | 1,100 | $108 | 12/31/2019 |
| Livforsakringsbolaget Skandia Omsesidigt | 1,100 | $108 | 12/31/2019 |
| TWLO | 1,100 | $108 | 12/31/2019 |
| Gables Capital Management Inc. | 1,100 | $108 | 12/31/2019 |
| TWLO | 1,100 | $108 | 12/31/2019 |
| Capital Analysts LLC | 995 | $98 | 12/31/2019 |
| TWLO | 995 | $98 | 12/31/2019 |
| Harvest Fund Management Co. Ltd | 61 | $97 | 12/31/2019 |
| TWLO | 61 | $97 | 12/31/2019 |
| Wealthcare Advisory Partners LLC | 927 | $91 | 12/31/2019 |
| TWLO | 927 | $91 | 12/31/2019 |
| Point72 Hong Kong Ltd | 917 | $90 | 12/31/2019 |
| TWLO | 917 | $90 | 12/31/2019 |
| North Star Investment Management Corp. | 900 | $88 | 12/31/2019 |
| TWLO | 900 | $88 | 12/31/2019 |
| Column Capital Advisors LLC | 895 | $87 | 12/31/2019 |
| TWLO | 895 | $87 | 12/31/2019 |
| Verus Capital Partners LLC | 865 | $85 | 12/31/2019 |
| TWLO | 865 | $85 | 12/31/2019 |
| Carmichael Hill & Associates Inc. | | $84 | 12/31/2019 |
| Call | 800 | $79 | 12/31/2019 |
| TWLO | 50 | $5 | 12/31/2019 |
| RMR Wealth Builders | 820 | $81 | 12/31/2019 |
| TWLO | 820 | $81 | 12/31/2019 |
| Seeyond | 810 | $80 | 12/31/2019 |
| TWLO | 810 | $80 | 12/31/2019 |
| Tsfg LLC | 799 | $79 | 12/31/2019 |
| TWLO | 799 | $79 | 12/31/2019 |
| Riverhead Capital Management LLC | 698 | $77 | 09/30/2019 |
| TWLO | 698 | $77 | 09/30/2019 |
| Lenox Wealth Advisors LLC | 727 | $71 | 12/31/2019 |
| TWLO | 727 | $71 | 12/31/2019 |
| Canton Hathaway LLC | 722 | $71 | 12/31/2019 |
| TWLO | 722 | $71 | 12/31/2019 |
| LS Investment Advisors LLC | 713 | $70 | 12/31/2019 |
| TWLO | 713 | $70 | 12/31/2019 |
| Focused Wealth Management Inc | 714 | $70 | 12/31/2019 |
| TWLO | 714 | $70 | 12/31/2019 |
| Private Capital Group LLC | 719 | $70 | 12/31/2019 |
| TWLO | 719 | $70 | 12/31/2019 |
| Fifth Third Bancorp | 650 | $64 | 12/31/2019 |
| TWLO | 650 | $64 | 12/31/2019 |
| Smithfield Trust Co. | 630 | $62 | 12/31/2019 |
| TWLO | 630 | $62 | 12/31/2019 |
| CWM LLC | 622 | $61 | 12/31/2019 |
| TWLO | 622 | $61 | 12/31/2019 |
| Lee Financial Co | 600 | $59 | 12/31/2019 |
| TWLO | 600 | $59 | 12/31/2019 |
| Ancora Advisors LLC | 600 | $59 | 12/31/2019 |
| TWLO | 600 | $59 | 12/31/2019 |
| Federated Hermes Inc. | 545 | $54 | 12/31/2019 |
| TWLO | 545 | $54 | 12/31/2019 |
| Reilly Financial Advisors LLC | 520 | $51 | 12/31/2019 |
| TWLO | 520 | $51 | 12/31/2019 |
| Glenmede Trust Co. NA | 509 | $49 | 12/31/2019 |
| TWLO | 509 | $49 | 12/31/2019 |
| First Command Bank | 500 | $49 | 12/31/2019 |
| TWLO | 500 | $49 | 12/31/2019 |
| First Command Financial Services Inc. | 500 | $49 | 12/31/2019 |
| TWLO | 500 | $49 | 12/31/2019 |
| Quadrant Capital Group LLC | 539 | $48 | 12/31/2019 |
| TWLO | 539 | $48 | 12/31/2019 |
| Enterprise Financial Services Corp | 470 | $46 | 12/31/2019 |
| TWLO | 470 | $46 | 12/31/2019 |
| Signaturefd LLC | 444 | $44 | 12/31/2019 |
| TWLO | 444 | $44 | 12/31/2019 |
| Creative Financial Designs Inc. ADV | 405 | $42 | 12/31/2019 |
| TWLO | 405 | $42 | 12/31/2019 |
| Loring Wolcott & Coolidge Fiduciary Advisors LLP MA | 410 | $40 | 12/31/2019 |
| TWLO | 410 | $40 | 12/31/2019 |
| IFP Advisors Inc | 358 | $36 | 12/31/2019 |
| TWLO | 358 | $36 | 12/31/2019 |
| Sterling Investment Advisors Ltd. | 350 | $34 | 12/31/2019 |
| TWLO | 350 | $34 | 12/31/2019 |
| Sonora Investment Management LLC | 340 | $33 | 12/31/2019 |
| TWLO | 340 | $33 | 12/31/2019 |
| Lindbrook Capital LLC | 330 | $32 | 12/31/2019 |
| TWLO | 330 | $32 | 12/31/2019 |
| Meeder Asset Management Inc. | 305 | $30 | 12/31/2019 |
| TWLO | 305 | $30 | 12/31/2019 |
| Salem Investment Counselors Inc. | 300 | $29 | 12/31/2019 |
| TWLO | 300 | $29 | 12/31/2019 |
| Trust Co. of Vermont | 300 | $29 | 12/31/2019 |
| TWLO | 300 | $29 | 12/31/2019 |
| Sofos Investments Inc. | 300 | $29 | 12/31/2019 |
| TWLO | 300 | $29 | 12/31/2019 |
| Global Retirement Partners LLC | 300 | $29 | 12/31/2019 |
| TWLO | 300 | $29 | 12/31/2019 |
| SRS Capital Advisors Inc. | 272 | $27 | 12/31/2019 |
| TWLO | 272 | $27 | 12/31/2019 |
| Optimum Investment Advisors | 250 | $25 | 12/31/2019 |
| TWLO | 250 | $25 | 12/31/2019 |
| Orion Portfolio Solutions LLC | 258 | $25 | 12/31/2019 |
| TWLO | 258 | $25 | 12/31/2019 |
| Massmutual Trust Co. FSB ADV | 218 | $24 | 09/30/2019 |
| TWLO | 218 | $24 | 09/30/2019 |
| Financial Architects Inc | 233 | $23 | 12/31/2019 |
| TWLO | 233 | $23 | 12/31/2019 |
| Truewealth LLC | 225 | $22 | 12/31/2019 |
| TWLO | 225 | $22 | 12/31/2019 |
| TCI Wealth Advisors Inc. | 211 | $21 | 12/31/2019 |
| TWLO | 211 | $21 | 12/31/2019 |
| Manchester Capital Management LLC | 200 | $20 | 12/31/2019 |
| TWLO | 200 | $20 | 12/31/2019 |
| Ropes Wealth Advisors LLC | 200 | $20 | 12/31/2019 |
| TWLO | 200 | $20 | 12/31/2019 |
| Webster Bank N. A. | 175 | $17 | 12/31/2019 |
| TWLO | 175 | $17 | 12/31/2019 |
| Samalin Investment Counsel LLC | 171 | $16 | 12/31/2019 |
| TWLO | 171 | $16 | 12/31/2019 |
| Winslow Evans & Crocker Inc. | 150 | $16 | 12/31/2019 |
| TWLO | 150 | $16 | 12/31/2019 |
| Global Wealth Management Investment Advisory Inc. | 165 | $16 | 12/31/2019 |
| TWLO | 165 | $16 | 12/31/2019 |
| Adirondack Trust Co. | 123 | $15 | 12/31/2019 |
| TWLO | 123 | $15 | 12/31/2019 |
| Huntington National Bank | 137 | $13 | 12/31/2019 |
| TWLO | 137 | $13 | 12/31/2019 |
| Atlas Private Wealth Management | 130 | $13 | 12/31/2019 |
| TWLO | 130 | $13 | 12/31/2019 |
| Jacobi Capital Management LLC | 124 | $12 | 12/31/2019 |
| TWLO | 124 | $12 | 12/31/2019 |
| Capital Bank & Trust Co | 125 | $12 | 12/31/2019 |
| TWLO | 125 | $12 | 12/31/2019 |
| Shine Investment Advisory Services Inc. | 117 | $11 | 12/31/2019 |
| TWLO | 117 | $11 | 12/31/2019 |
| Nvwm LLC | 107 | $11 | 12/31/2019 |
| TWLO | 107 | $11 | 12/31/2019 |
| Sound Income Strategies LLC | 112 | $11 | 12/31/2019 |
| TWLO | 112 | $11 | 12/31/2019 |
| Citizens Financial Group Inc RI | 104 | $10 | 12/31/2019 |
| TWLO | 104 | $10 | 12/31/2019 |
| Emerald Advisers LLC | 100 | $10 | 12/31/2019 |
| TWLO | 100 | $10 | 12/31/2019 |
| Contravisory Investment Management Inc. | 100 | $10 | 12/31/2019 |
| TWLO | 100 | $10 | 12/31/2019 |
| San Francisco Sentry Investment Group CA | 104 | $10 | 12/31/2019 |
| TWLO | 104 | $10 | 12/31/2019 |
| Cypress Capital Management LLC WY | 100 | $10 | 12/31/2019 |
| TWLO | 100 | $10 | 12/31/2019 |
| Pacific Center for Financial Services | 100 | $10 | 12/31/2019 |
| TWLO | 100 | $10 | 12/31/2019 |
| Arkadios Wealth Advisors | 76 | $10 | 12/31/2019 |
| TWLO | 76 | $10 | 12/31/2019 |
| Carroll Financial Associates Inc. | 100 | $9 | 12/31/2019 |
| TWLO | 100 | $9 | 12/31/2019 |
| IMA Wealth Inc. | 77 | $8 | 12/31/2019 |
| TWLO | 77 | $8 | 12/31/2019 |
| G&S Capital LLC | 85 | $8 | 12/31/2019 |
| TWLO | 85 | $8 | 12/31/2019 |
| AdvisorNet Financial Inc | 76 | $7 | 12/31/2019 |
| TWLO | 76 | $7 | 12/31/2019 |
| Berman Capital Advisors LLC | 72 | $7 | 12/31/2019 |
| TWLO | 72 | $7 | 12/31/2019 |
| Ellis Investment Partners LLC | 60 | $6 | 12/31/2019 |
| TWLO | 60 | $6 | 12/31/2019 |
| Lake Point Wealth Management | 64 | $6 | 12/31/2019 |
| TWLO | 64 | $6 | 12/31/2019 |
| Retirement Network | 60 | $6 | 12/31/2019 |
| TWLO | 60 | $6 | 12/31/2019 |
| Engrave Wealth Partners LLC | 70 | $6 | 12/31/2019 |
| TWLO | 70 | $6 | 12/31/2019 |
| Toth Financial Advisory Corp | 50 | $5 | 12/31/2019 |
| TWLO | 50 | $5 | 12/31/2019 |
| Earnest Partners LLC | 48 | $5 | 12/31/2019 |
| TWLO | 48 | $5 | 12/31/2019 |
| Tradewinds Capital Management LLC | 51 | $5 | 12/31/2019 |
| TWLO | 51 | $5 | 12/31/2019 |
| Exane Derivatives | 44 | $5 | 12/31/2019 |
| TWLO | 44 | $5 | 12/31/2019 |
| RPG Investment Advisory LLC | 50 | $5 | 12/31/2019 |
| TWLO | 50 | $5 | 12/31/2019 |
| Bedel Financial Consulting Inc. | 53 | $5 | 12/31/2019 |
| TWLO | 53 | $5 | 12/31/2019 |
| Tobias Financial Advisors Inc. | 50 | $4 | 12/31/2019 |
| TWLO | 50 | $4 | 12/31/2019 |
| Ogorek Anthony Joseph NY ADV | 40 | $3 | 12/31/2019 |
| TWLO | 40 | $3 | 12/31/2019 |
| First Manhattan Co. | 34 | $3 | 12/31/2019 |
| TWLO | 34 | $3 | 12/31/2019 |
| Hudock Capital Group LLC | 33 | $3 | 12/31/2019 |
| TWLO | 33 | $3 | 12/31/2019 |
| Centerpoint Advisors LLC | 30 | $3 | 12/31/2019 |
| TWLO | 30 | $3 | 12/31/2019 |
| Laurel Wealth Advisors LLC | 30 | $3 | 12/31/2019 |
| TWLO | 30 | $3 | 12/31/2019 |
| Security National Trust Co. | 16 | $2 | 12/31/2019 |
| TWLO | 16 | $2 | 12/31/2019 |
| AlphaMark Advisors LLC | 17 | $2 | 12/31/2019 |
| TWLO | 17 | $2 | 12/31/2019 |
| Argent Advisors Inc. | 25 | $2 | 12/31/2019 |
| TWLO | 25 | $2 | 12/31/2019 |
| Wealthcare Capital Management LLC | 17 | $2 | 12/31/2019 |
| TWLO | 17 | $2 | 12/31/2019 |
| Stonebridge Capital Advisors LLC | 25 | $2 | 12/31/2019 |
| TWLO | 25 | $2 | 12/31/2019 |
| TRUE Private Wealth Advisors | 25 | $2 | 12/31/2019 |
| TWLO | 25 | $2 | 12/31/2019 |
| Allred Capital Management LLC | 20 | $2 | 12/31/2019 |
| TWLO | 20 | $2 | 12/31/2019 |
| Balentine LLC | 14 | $2 | 09/30/2019 |
| TWLO | 14 | $2 | 09/30/2019 |
| Brown Brothers Harriman & Co. | 14 | $1 | 12/31/2019 |
| TWLO | 14 | $1 | 12/31/2019 |
| Pittenger & Anderson Inc. | 15 | $1 | 12/31/2019 |
| TWLO | 15 | $1 | 12/31/2019 |
| Berkshire Capital Holdings Inc. | 10 | $1 | 12/31/2019 |
| TWLO | 10 | $1 | 12/31/2019 |
| NINE MASTS CAPITAL Ltd | | $1 | 12/31/2019 |
| Call | 30,000 | $107 | 12/31/2019 |
| Put | 50,000 | $106 | 12/31/2019 |
| Ellevest Inc. | 8 | $1 | 12/31/2019 |
| TWLO | 8 | $1 | 12/31/2019 |
| Liberty Wealth Management LLC | 7 | $1 | 12/31/2019 |
| TWLO | 7 | $1 | 12/31/2019 |
| Wealth Quarterback LLC | 8 | $1 | 12/31/2019 |
| TWLO | 8 | $1 | 12/31/2019 |
| Proequities Inc. | | $0 | 12/31/2019 |
| Put | 0 | $0 | 12/31/2019 |
| Call | 0 | $0 | 12/31/2019 |
| TWLO | 0 | $0 | 12/31/2019 |
| NOTE 0 | 0 | $0 | 12/31/2019 |
| Gradient Investments LLC | 1 | $0 | 12/31/2019 |
| TWLO | 1 | $0 | 12/31/2019 |
| JFS Wealth Advisors LLC | 5 | $0 | 12/31/2019 |
| TWLO | 5 | $0 | 12/31/2019 |
| Crewe Advisors LLC | 2 | $0 | 12/31/2019 |
| TWLO | 2 | $0 | 12/31/2019 |
| Larson Financial Group LLC | 4 | $0 | 12/31/2019 |
| TWLO | 4 | $0 | 12/31/2019 |
| Silicon Hills Wealth Management LLC | 1 | $0 | 12/31/2019 |
| TWLO | 1 | $0 | 12/31/2019 |
| Procyon Private Wealth Partners LLC | 3 | $0 | 12/31/2019 |
| TWLO | 3 | $0 | 12/31/2019 |
| Two Sigma Investments LP | | $-629 | 12/31/2019 |
| Put | 80,400 | $7,902 | 12/31/2019 |
| Call | 74,000 | $7,273 | 12/31/2019 |
| IMC Chicago LLC | | $-2,044 | 12/31/2019 |
| Put | 123,300 | $12,118 | 12/31/2019 |
| Call | 102,500 | $10,074 | 12/31/2019 |
| Twin Tree Management LP | | $-7,594 | 12/31/2019 |
| Put | 209,800 | $20,619 | 12/31/2019 |
| TWLO | 98,726 | $9,703 | 12/31/2019 |
| Call | 33,800 | $3,322 | 12/31/2019 |
| D. E. Shaw & Co. Inc. | | $-14,929 | 12/31/2019 |
| Put | 274,000 | $26,929 | 12/31/2019 |
| Call | 122,100 | $12,000 | 12/31/2019 |
| Walleye Trading LLC | | $-15,374 | 12/31/2019 |
| Put | 358,000 | $35,184 | 12/31/2019 |
| TWLO | 143,866 | $14,139 | 12/31/2019 |
| Call | 57,700 | $5,671 | 12/31/2019 |
| PEAK6 Investments LLC | 67,200 | $-47,773 | 12/31/2019 |
| Put | 756,100 | $74,310 | 12/31/2019 |
| TWLO | 202,819 | $19,933 | 12/31/2019 |
| Call | 67,200 | $6,604 | 12/31/2019 |
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