DG Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), DG Capital Management, LLC reported 12 stock positions worth $147.1 million. Its top holding was Talen Energy (TLN) at 21.7% of the portfolio, followed by Tenet Healthcare (THC, 20.1%) and Burford Capital (BUR, 11.2%). Compared with Q3 2024, it opened 4 new positions, sold out of 3, added to 3 and reduced 5. The biggest buy was a new position in Geo (GEO) and the biggest sale Caesars Entertainment (CZR, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001512716
- Portfolio Value
- $147.1M (Q4 2024)
- SEC Filing
- 0001493152-25-006284 ↗ filed Feb 13, 2025
Holdings Value
Holdings 12 stocks · $147.1M
| TLN Talen Energy Corp. | 21.67% | 158,175 | $31.9M | Reduce -41.2% |
| THC Tenet Healthcare Corp. | 20.13% | 234,494 | $29.6M | Reduce -22.7% |
| BUR Burford Capital Ltd. | 11.15% | 1,286,472 | $16.4M | Add +4.2% |
| GEO The Geo Group Inc. | 9.91% | 520,644 | $14.6M | New |
| ATEX Anterix Inc. | 8.95% | 429,015 | $13.2M | New |
| INSE Inspired Entertainment Inc. | 7.80% | 1,266,958 | $11.5M | Reduce -2.4% |
| CYH Community Health Systems Inc. | 7.12% | 3,502,511 | $10.5M | Add +54.8% |
| FENC Fennec Pharmaceuticals Inc. | 4.79% | 1,114,692 | $7.0M | Reduce -26.8% |
| MAGN Magnera Corp. | 4.31% | 348,954 | $6.3M | New |
| M Macy's Inc. | 2.30% | 200,000 | $3.4M | New |
| GEL Genesis Energy L.P. | 1.30% | 188,917 | $1.9M | Add +34.1% |
| CZR Caesars Entertainment Inc. | 0.58% | 25,556 | $854K | Reduce -94.8% |
Options reported separately and not counted above: SPY puts ($58.6M), ARKK puts ($22.7M), TLN calls ($20.1M), M calls ($12.3M), GEO calls ($11.4M), GEO puts ($8.4M), THC puts ($6.6M), THC calls ($6.5M), GEL calls ($3.2M), BUR calls ($854K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $2K (not counted above)
Total filed on the 13F, all lines: $147.1M.
Portfolio Sells Q3 2024 → Q4 2024
| CZR Caesars Entertainment Inc. | Reduce -94.8% | 0.58% | −10.16 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −6.13 |
| THC Tenet Healthcare Corp. | Reduce -22.7% | 20.13% | −5.99 |
| TLN Talen Energy Corp. | Reduce -41.2% | 21.67% | −3.18 |
| HTZ Hertz Global Hldgs Inc. | Sold out | 0.00% | −3.14 |
| ATSG Air Transport Services Group | Sold out | 0.00% | −2.28 |
| FENC Fennec Pharmaceuticals Inc. | Reduce -26.8% | 4.79% | +0.85 |
| INSE Inspired Entertainment Inc. | Reduce -2.4% | 7.80% | +1.56 |
Portfolio Buys Q3 2024 → Q4 2024
Options Activity Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 100,000 | $58.6M |
| XLI SS Industrial Select Sector | put | Sold out | 200,000 | $27.1Mbefore exit |
| ARKK ARK Innovation ETF | put | New | 400,000 | $22.7M |
| TLN Talen Energy Corp. | call | New | 100,000 | $20.1M |
| M Macy's Inc. | call | New | 724,700 | $12.3M |
| GEO The Geo Group Inc. | call | New | 408,500 | $11.4M |
| GEO The Geo Group Inc. | put | New | 300,000 | $8.4M |
| THC Tenet Healthcare Corp. | put | New | 52,500 | $6.6M |
| THC Tenet Healthcare Corp. | call | New | 51,200 | $6.5M |
| GEL Genesis Energy L.P. | call | New | 316,200 | $3.2M |
| BUR Burford Capital Ltd. | call | New | 67,000 | $854K |
| HTZ Hertz Global Hldgs Inc. | call | Sold out | 100,000 | $330Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024
| JWSWF Jaws Mustang Acq C -CW26 | *W EXP 01/30/202 | Sold out | 13,189 | $305before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 18 | $261.1M | MCY, TLN, XE, CBZ, GDDY |
| Q1 2026 | 17 | $197.5M | MCY, TLN, GDDY, GLNG, CZR |
| Q4 2025 | 12 | $91.4M | MCY, ACIC, CAPR, GEL, TLN |
| Q3 2025 | 11 | $153.6M | MCY, BUR, CZR, ATEX, MAGN |
| Q2 2025 | 14 | $211.9M | MCY, BUR, THC, ATEX, COO |
| Q1 2025 | 13 | $183.6M | MCY, TLN, ATEX, THC, BUR |
| Q4 2024 | 12 | $147.1M | TLN, THC, BUR, GEO, ATEX |
| Q3 2024 | 11 | $193.0M | THC, TLN, CZR, BUR, CYH |
| Q2 2024 | 13 | $141.9M | THC, CZR, EVRI, BUR, INSE |
| Q1 2024 | 16 | $154.4M | THC, CZR, FENC, EVRI, BUR |