DG Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), DG Capital Management, LLC reported 17 stock positions worth $197.5 million. Its top holding was Mercury General (MCY) at 26.5% of the portfolio, followed by Talen Energy (TLN, 18.1%) and GoDaddy Class A (GDDY, 8.7%). Compared with Q4 2025, it opened 5 new positions, added to 6 and reduced 5. The biggest buy was Talen Energy (TLN, shares +4364%) and the biggest sale Mercury General (MCY, shares −4%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001512716
Portfolio Value
$197.5M (Q1 2026)
SEC Filing
0001512716-26-000009 ↗ filed May 13, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $154.4M Q1 2024 Q2 2024: $141.9M Q2 2024 Q3 2024: $193.0M Q3 2024 Q4 2024: $147.1M Q4 2024 Q1 2025: $183.6M Q1 2025 Q2 2025: $211.9M Q2 2025 Q3 2025: $153.6M Q3 2025 Q4 2025: $91.4M Q4 2025 Q1 2026: $197.5M $197.5M Q1 2026 Q2 2026: $261.1M Q2 2026

Holdings 17 stocks · $197.5M
MCY Mercury General Corp. 26.53% 594,377 $52.4M Reduce -4.0%
TLN Talen Energy Corp. 18.13% 112,144 $35.8M Add +4364.3%
GDDY GoDaddy Inc. Class A 8.66% 206,860 $17.1M New
GLNG Golar LNG Ltd. 6.80% 248,100 $13.4M Add +4426.6%
CZR Caesars Entertainment Inc. 6.06% 453,069 $12.0M Add +1375.1%
CAPR Capricor Therapeutics Inc. 6.04% 392,096 $11.9M Reduce -5.3%
MAGN Magnera Corp. 5.81% 1,207,356 $11.5M Add +3183.1%
IGV iShares Expanded Tech-Softwa 5.27% 130,000 $10.4M New
OWL Blue Owl Capital Inc. 4.70% 1,016,128 $9.3M New
MSDL Morgan Stanley Direct Lendin 4.07% 575,537 $8.0M New
ATEX Anterix Inc. 3.25% 168,217 $6.4M Add +691.8%
ACIC American Coastal Insurance C 2.65% 465,287 $5.2M Reduce -56.6%
GEL Genesis Energy L.P. 0.86% 95,068 $1.7M Reduce -45.0%
TISI Team Inc. 0.43% 53,579 $854K Reduce -17.1%
DNOW Dnow Inc. 0.35% 57,520 $685K New
BUR Burford Capital Ltd. 0.21% 93,684 $423K Add +0.9%
UTHR United Therapeutics Corp. 0.17% 558 $331K No change

Options reported separately and not counted above: TLN calls ($44.7M), MCY calls ($31.2M), GDDY calls ($8.3M), TLT calls ($4.3M), OKLO puts ($3.7M), SMR puts ($2.7M).

Other holdings (2): bonds, preferreds, convertibles and warrants · $33.8M (not counted above)
SecurityClassShares / PrincipalValueChange
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) NOTE 1.250% 9/1 · principal 22,245,000$20.5MNo change
RIOT PLATFORMS INC (RIOT 0.75 01/15/30) NOTE 0.750% 1/1 · principal 11,500,000$13.3MNo change

Total filed on the 13F, all lines: $231.2M.

Portfolio Sells Q4 2025 → Q1 2026
MCY Mercury General Corp. Reduce -4.0% 26.53% −37.25
ACIC American Coastal Insurance C Reduce -56.6% 2.65% −12.18
CAPR Capricor Therapeutics Inc. Reduce -5.3% 6.04% −7.04
GEL Genesis Energy L.P. Reduce -45.0% 0.86% −2.09
TISI Team Inc. Reduce -17.1% 0.43% −0.57

Portfolio Buys Q4 2025 → Q1 2026
TLN Talen Energy Corp. Add +4364.3% 18.13% +17.10
GDDY GoDaddy Inc. Class A New 8.66% +8.66
GLNG Golar LNG Ltd. Add +4426.6% 6.80% +6.58
CZR Caesars Entertainment Inc. Add +1375.1% 6.06% +5.28
IGV iShares Expanded Tech-Softwa New 5.27% +5.27
MAGN Magnera Corp. Add +3183.1% 5.81% +5.21
OWL Blue Owl Capital Inc. New 4.70% +4.70
MSDL Morgan Stanley Direct Lendin New 4.07% +4.07
ATEX Anterix Inc. Add +691.8% 3.25% +2.75
DNOW Dnow Inc. New 0.35% +0.35
BUR Burford Capital Ltd. Add +0.9% 0.21% −0.69

Options Activity Q4 2025 → Q1 2026
TLN Talen Energy Corp. call New 140,000 $44.7M
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 50,000 $34.1Mbefore exit
MCY Mercury General Corp. call Reduce -27.0% 354,300 $31.2M
GDDY GoDaddy Inc. Class A call New 100,000 $8.3M
TLT iShares 20+ Year Treasury BD call Reduce -50.0% 50,000 $4.3M
GEL Genesis Energy L.P. call Sold out 266,800 $4.2Mbefore exit
OKLO Oklo Inc. put Reduce -32.7% 75,000 $3.7M
SMR Nuscale Power Corp. put Add +41.9% 252,500 $2.7M
ACIC American Coastal Insurance C call Sold out 36,100 $456Kbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 18$261.1MMCY, TLN, XE, CBZ, GDDY
Q1 2026 17$197.5MMCY, TLN, GDDY, GLNG, CZR
Q4 2025 12$91.4MMCY, ACIC, CAPR, GEL, TLN
Q3 2025 11$153.6MMCY, BUR, CZR, ATEX, MAGN
Q2 2025 14$211.9MMCY, BUR, THC, ATEX, COO
Q1 2025 13$183.6MMCY, TLN, ATEX, THC, BUR
Q4 2024 12$147.1MTLN, THC, BUR, GEO, ATEX
Q3 2024 11$193.0MTHC, TLN, CZR, BUR, CYH
Q2 2024 13$141.9MTHC, CZR, EVRI, BUR, INSE
Q1 2024 16$154.4MTHC, CZR, FENC, EVRI, BUR