Angelo Gordon & Co., L.P.

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Angelo Gordon & Co., L.P. reported 31 stock positions worth $294.0 million. Its top holding was Anywhere Real Estate (HOUS) at 16.8% of the portfolio, followed by Starwood Property Trust (stwd 6.75 07/15/27) (11.7%) and Cinemark Holdings Inc. (cnk 4.5 08/15/25) (7.7%). Compared with Q2 2024, it opened 12 new positions, sold out of 11, added to 8 and reduced 4. The biggest buy was a new position in Bofa Finance LLC (bac 0.6 05/25/27 Mtn) and the biggest sale an exit from Bally's (BALY).

Most Recent 13F
Q4 2025
Location
NEW YORK, NY
CIK
0000860662
Portfolio Value
$294.0M (Q3 2024)
SEC Filing
0001085146-24-005893 ↗ filed Nov 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $276.0M Q1 2024 Q2 2024: $245.7M Q2 2024 Q3 2024: $294.0M $294.0M Q3 2024 Q4 2024: $395.2M Q4 2024 Q1 2025: $474.5M Q1 2025 Q2 2025: $623.9M Q2 2025 Q3 2025: $686.7M Q3 2025 Q4 2025: $850.7M Q4 2025

Holdings 31 stocks · $294.0M
HOUS Anywhere Real Estate Inc. 16.75% 9,692,993 $49.2M No change
STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) 11.71% 32,250,000 $34.4M No change
CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) 7.75% 11,500,000 $22.8M Add +53.3%
AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) 7.33% 21,000,000 $21.5M Add +10.5%
ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) filed as REALOGY GRP LLC/REALOGY CO 7.31% 24,587,000 $21.5M No change
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) 6.27% 20,000,000 $18.4M Add +11.1%
HES Hess Corp. 4.50% 97,500 $13.2M Add +25.8%
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) 3.77% 10,000,000 $11.1M New
JNPR Juniper Networks Inc. 3.71% 280,000 $10.9M Add +1020.0%
AXONICS INC 3.65% 154,135 $10.7M Reduce -11.9%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) 3.10% 9,000,000 $9.1M New
NVEI Nuvei Corp.-Subordinate VTG 2.98% 262,321 $8.7M Add +323.1%
RCM R1 RCM Inc. 2.41% 500,000 $7.1M New
BZH Beazer Homes USA Inc. 2.31% 198,867 $6.8M Add +55.1%
HCP Hashicorp Inc. Class A 2.02% 175,000 $5.9M Reduce -28.6%
VZIO Vizio Holding Corp. Class A 1.99% 525,000 $5.9M New
CTLT Catalent Inc. 1.96% 95,000 $5.8M Add +58.3%
DUKE ENERGY CORP (DUK 4.125 04/15/26) 1.80% 5,000,000 $5.3M New
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) 1.51% 3,750,000 $4.5M New
WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) 1.46% 11,500,000 $4.3M Reduce -20.7%
CPRI Capri Holdings Ltd. 1.30% 90,000 $3.8M No change
SPR Spirit Aerosystems Hold Class A 1.00% 90,000 $2.9M New
SHAKE SHACK INC (SHAK 0 03/01/28) 0.95% 3,000,000 $2.8M No change
MITT TPG Mortgage Investment Trus 0.74% 288,290 $2.2M No change
SMAR Smartsheet Inc. Class A 0.50% 26,465 $1.5M New
ARES ACQUISITION CORP II 0.37% 100,000 $1.1M New
NETD Nabors Energy Transition C-A 0.36% 100,000 $1.1M New
SRDX Surmodics Inc. 0.28% 21,160 $821K Reduce -15.4%
PAYO Payoneer Global Inc. 0.17% 83,946 $506K No change
TLSI Trisalus Life Sciences Inc. 0.03% 20,854 $96K New
ZURA Zura Bio Ltd. 0.03% 22,500 $91K New

Options reported separately and not counted above: AMODW calls ($6.7M), EVTWF calls ($2.8M), PGYWW calls ($2.1M), TGAWF calls ($1.5M), PLAOW calls ($871K), BLEUACACIA LTD calls ($824K), XFINW calls ($565K), KDKRW calls ($542K), NETDW calls ($533K), PERCEPTION CAPITAL CORP IV calls ($379K), THCPW calls ($316K), MCAAW calls ($293K), and 15 more.

Other holdings (2): bonds, preferreds, convertibles and warrants · $40.7M (not counted above)
SecurityClassShares / PrincipalValueChange
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 350,000$21.2MNew
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 350,000$19.5MNew

Total filed on the 13F, all lines: $334.7M.

Portfolio Sells Q2 2024 → Q3 2024
BALY Bally's Corp. Sold out 0.00% −5.31
EDR Endeavor Group Hold Class A Sold out 0.00% −5.25
NEE Nextera Energy Inc. Sold out 0.00% −3.95
AGMIT MERGER SUB LLC (MITT 6.75 09/15/24) Sold out 0.00% −2.89
WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) Reduce -20.7% 1.46% −1.80
PWSC Powerschool Holdings Inc. Class A Sold out 0.00% −1.46
HCP Hashicorp Inc. Class A Reduce -28.6% 2.02% −1.34
AXONICS INC Reduce -11.9% 3.65% −1.14
X United States Steel Corp. Sold out 0.00% −1.12
HA Hawaiian Holdings Inc. Sold out 0.00% −0.76
AACT.U Ares Acquisition Corp. II Sold out 0.00% −0.44
NETDU Nabors Energy Transition Cor Sold out 0.00% −0.43
SRCL Stericycle Inc. Sold out 0.00% −0.35
HAYMAKER ACQUISITION CORP 4 Sold out 0.00% −0.22
SRDX Surmodics Inc. Reduce -15.4% 0.28% −0.15

Portfolio Buys Q2 2024 → Q3 2024
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) New 3.77% +3.77
JNPR Juniper Networks Inc. Add +1020.0% 3.71% +3.34
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) New 3.10% +3.10
CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) Add +53.3% 7.75% +2.92
RCM R1 RCM Inc. New 2.41% +2.41
NVEI Nuvei Corp.-Subordinate VTG Add +323.1% 2.98% +2.16
VZIO Vizio Holding Corp. Class A New 1.99% +1.99
DUKE ENERGY CORP (DUK 4.125 04/15/26) New 1.80% +1.80
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) New 1.51% +1.51
SPR Spirit Aerosystems Hold Class A New 1.00% +1.00
BZH Beazer Homes USA Inc. Add +55.1% 2.31% +0.88
CTLT Catalent Inc. Add +58.3% 1.96% +0.58
SMAR Smartsheet Inc. Class A New 0.50% +0.50
ARES ACQUISITION CORP II New 0.37% +0.37
NETD Nabors Energy Transition C-A New 0.36% +0.36
TLSI Trisalus Life Sciences Inc. New 0.03% +0.03
ZURA Zura Bio Ltd. New 0.03% +0.03
HES Hess Corp. Add +25.8% 4.50% −0.15
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) Add +11.1% 6.27% −0.40
AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) Add +10.5% 7.33% −0.67

Options Activity Q2 2024 → Q3 2024
TRONW Corner Growth Acquisiti-CW23 call Sold out 133,333 $1.6Mbefore exit
KDKRW Ares Acquisition Corp. II-28 call New 50,000 $542K
NETDW Nabors Energy Transiti-CW call New 50,000 $533K
TLSIW Medtech Acquisition Corp.-CW call Sold out 69,514 $384Kbefore exit
HYAC.WS Haymaker Acquisition Corp.-28 call New 25,000 $267K
ZURA BIO LTD call Sold out 75,000 $263Kbefore exit
CVIIW Churchill Capital Vii -CW28 call Sold out 10,000 $108Kbefore exit
LLAPW Terran Orbital Corp. -CW28 call Sold out 66,666 $55Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2024 → Q3 2024
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV New 350,000 $21.2M
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 New 350,000 $19.5M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q4 2025 39$850.7MHOUS, NVRI, UGI CORP (UGI 5 06/01/28), BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN), EVERGY INC (EVRG 4.5 12/15/27)
Q3 2025 39$686.7MHOUS, EVERGY INC (EVRG 4.5 12/15/27), STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN), UGI CORP (UGI 5 06/01/28)
Q2 2025 38$623.9MSTARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), EVERGY INC (EVRG 4.5 12/15/27), UGI CORP (UGI 5 06/01/28), WEC ENERGY GROUP INC (WEC 4.375 06/01/29), PG&E CORP (PCG 4.25 12/01/27)
Q1 2025 34$474.5MCINEMARK HOLDINGS INC (CNK 4.5 08/15/25), STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), EVERGY INC (EVRG 4.5 12/15/27), HOUS, AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25)
Q4 2024 33$395.2MCINEMARK HOLDINGS INC (CNK 4.5 08/15/25), STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), HOUS, AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25), EVERGY INC (EVRG 4.5 12/15/27)
Q3 2024 31$294.0MHOUS, STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), CINEMARK HOLDINGS INC (CNK 4.5 08/15/25), AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25), ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26)
Q2 2024Amended 30$245.7MSTARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), HOUS, ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26), AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25), MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)
Q1 2024 25$276.0MHOUS, STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27), NCL CORPORATION LTD (NCLH 6 05/15/24), ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26), PXD