DLD Asset Management, LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), DLD Asset Management, LP reported 31 stock positions worth $76.8 million. Its top holding was Marti Technologies (MRT) at 15.8% of the portfolio, followed by Keurig Dr Pepper (KDP, 9.4%) and Middleby (MIDD, 7.0%). Compared with Q3 2024, it opened 21 new positions, sold out of 5, added to 2 and reduced 8. The biggest buy was Marti Technologies (MRT, shares +5877%) and the biggest sale Middleby (MIDD, shares −16%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001578299
- Portfolio Value
- $76.8M (Q4 2024)
- SEC Filing
- 0001085146-25-001097 ↗ filed Feb 12, 2025
Holdings Value
Holdings 31 stocks · $76.8M
| MRT Marti Technologies Inc. | 15.82% | 3,586,184 | $12.2M | Add +5877.0% |
| KDP Keurig Dr Pepper Inc. | 9.40% | 225,000 | $7.2M | New |
| MIDD Middleby Corp. | 7.00% | 39,705 | $5.4M | Reduce -16.3% |
| FYBR Frontier Communications Pare | 6.75% | 149,437 | $5.2M | Add +252.4% |
| ALE Allete Inc. | 4.69% | 55,627 | $3.6M | Reduce -9.0% |
| SKGR SK Growth Opportunities Co. Class A | 4.54% | 300,000 | $3.5M | New |
| MLACU Mountain Lake Acquisition Co. | 4.24% | 325,000 | $3.3M | New |
| HES Hess Corp. | 4.05% | 23,389 | $3.1M | Reduce -12.9% |
| IRTC Irhythm Holdings Inc. | 4.01% | 34,200 | $3.1M | Reduce -40.8% |
| JACS.U Jackson Acquisition Co. II | 3.93% | 300,000 | $3.0M | New |
| K Kellanova | 3.89% | 36,903 | $3.0M | Reduce -30.0% |
| SRDX Surmodics Inc. | 3.27% | 63,491 | $2.5M | New |
| FTW Eqv Ventures Acquisition C-A | 3.25% | 250,000 | $2.5M | New |
| RANGU Range Capital Acquisition Co. | 2.94% | 225,000 | $2.3M | New |
| TDACU Translational Development Ac | 2.54% | 194,853 | $2.0M | New |
| CCIR Cohen Circle Acquisitio Class A | 2.28% | 174,700 | $1.7M | New |
| OACC Oaktree Acquisition Corp. I-A | 2.27% | 175,000 | $1.7M | New |
| CCIX Churchill Capital Corp. Ix | 2.18% | 162,706 | $1.7M | New |
| GLACF Global Lights Acquisition Co. | 2.08% | 150,000 | $1.6M | New |
| DFS Discover Financial Services | 1.95% | 8,635 | $1.5M | Reduce -66.0% |
| NOEMU CO2 Energy Transition Corp. | 1.83% | 140,000 | $1.4M | New |
| ASPN Aspen Aerogels Inc. | 1.61% | 104,253 | $1.2M | Reduce -84.2% |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 1.18% | 89,100 | $907K | New |
| EQC Equity Commonwealth | 0.95% | 412,779 | $731K | New |
| LW Lamb Weston Holdings Inc. | 0.87% | 10,000 | $668K | New |
| LUV Southwest Airlines Co. | 0.74% | 50,000 | $568K | New |
| ANSS Ansys Inc. | 0.58% | 1,331 | $449K | Reduce -81.7% |
| JNPR Juniper Networks Inc. | 0.53% | 10,823 | $405K | New |
| COLOMBIER ACQUISITION CORP | 0.38% | 25,000 | $294K | New |
| MCHP Microchip Technology Inc. | 0.20% | 30,000 | $154K | New |
| GEVO Gevo Inc. | 0.06% | 21,500 | $45K | New |
Options reported separately and not counted above: ZD puts ($116.0M), LW calls ($32.1M), RIVN puts ($16.7M), LUV puts ($14.0M), MCHP puts ($9.5M), SPHR puts ($6.8M), PGY puts ($6.3M), ASPN puts ($6.3M), RIG puts ($4.9M), MIDD puts ($4.7M), VREX puts ($4.7M), NCLH puts ($4.4M), and 12 more.
Other holdings (21): bonds, preferreds, convertibles and warrants · $507.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | 35,000,000 | $76.1M | Reduce -12.5% |
| VARONIS SYSTEM INC (VRNS 1.25 08/15/25) | NOTE 1.250% 8/1 · principal | 27,500,000 | $40.2M | Reduce -30.4% |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | 36,500,000 | $38.3M | Reduce -8.8% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 27,500,000 | $34.7M | New |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | 25,000,000 | $34.2M | Add +8.7% |
| SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28) | NOTE 3.250%11/0 · principal | 25,000,000 | $33.9M | New |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 25,000,000 | $30.1M | New |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | 21,500,000 | $29.3M | Add +43.3% |
| VAREX IMAGING CORPORATIO (VREX 4 06/01/25) | NOTE 4.000% 6/0 · principal | 28,000,000 | $28.4M | Reduce -8.9% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 27,500,000 | $27.3M | Reduce -31.3% |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | 25,500,000 | $27.1M | New |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 16,500,000 | $18.0M | New |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | 17,500,000 | $15.7M | New |
| TANDEM DIABETES CARE INC (TNDM 1.5 05/01/25) | NOTE 1.500% 5/0 · principal | 14,700,000 | $14.5M | No change |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 12,250,000 | $12.2M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 10,000,000 | $12.2M | New |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | 8,500,000 | $10.8M | New |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 10,000,000 | $10.2M | New |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | 7,500,000 | $7.2M | Add +650.0% |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 6,000,000 | $5.9M | New |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 1,000,000 | $940K | New |
Total filed on the 13F, all lines: $584.0M.
Portfolio Sells Q3 2024 → Q4 2024
| MIDD Middleby Corp. | Reduce -16.3% | 7.00% | −9.88 |
| DFS Discover Financial Services | Reduce -66.0% | 1.95% | −7.16 |
| K Kellanova | Reduce -30.0% | 3.89% | −6.99 |
| IRTC Irhythm Holdings Inc. | Reduce -40.8% | 4.01% | −6.94 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −5.53 |
| PPTA Perpetua Resources Corp. | Sold out | 0.00% | −5.38 |
| ANSS Ansys Inc. | Reduce -81.7% | 0.58% | −5.35 |
| ALE Allete Inc. | Reduce -9.0% | 4.69% | −5.34 |
| HES Hess Corp. | Reduce -12.9% | 4.05% | −5.27 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −3.48 |
| ACI Albertsons Cos Inc. Class A | Sold out | 0.00% | −2.84 |
| SHCR Sharecare Inc. | Sold out | 0.00% | −2.29 |
| ASPN Aspen Aerogels Inc. | Reduce -84.2% | 1.61% | −1.61 |
Portfolio Buys Q3 2024 → Q4 2024
| MRT Marti Technologies Inc. | Add +5877.0% | 15.82% | +15.52 |
| KDP Keurig Dr Pepper Inc. | New | 9.40% | +9.40 |
| SKGR SK Growth Opportunities Co. Class A | New | 4.54% | +4.54 |
| MLACU Mountain Lake Acquisition Co. | New | 4.24% | +4.24 |
| JACS.U Jackson Acquisition Co. II | New | 3.93% | +3.93 |
| SRDX Surmodics Inc. | New | 3.27% | +3.27 |
| FTW Eqv Ventures Acquisition C-A | New | 3.25% | +3.25 |
| RANGU Range Capital Acquisition Co. | New | 2.94% | +2.94 |
| FYBR Frontier Communications Pare | Add +252.4% | 6.75% | +2.90 |
| TDACU Translational Development Ac | New | 2.54% | +2.54 |
| CCIR Cohen Circle Acquisitio Class A | New | 2.28% | +2.28 |
| OACC Oaktree Acquisition Corp. I-A | New | 2.27% | +2.27 |
| CCIX Churchill Capital Corp. Ix | New | 2.18% | +2.18 |
| GLACF Global Lights Acquisition Co. | New | 2.08% | +2.08 |
| NOEMU CO2 Energy Transition Corp. | New | 1.83% | +1.83 |
| FRNM Freenome Inc. | New | 1.18% | +1.18 |
| EQC Equity Commonwealth | New | 0.95% | +0.95 |
| LW Lamb Weston Holdings Inc. | New | 0.87% | +0.87 |
| LUV Southwest Airlines Co. | New | 0.74% | +0.74 |
| JNPR Juniper Networks Inc. | New | 0.53% | +0.53 |
| COLOMBIER ACQUISITION CORP | New | 0.38% | +0.38 |
| MCHP Microchip Technology Inc. | New | 0.20% | +0.20 |
| GEVO Gevo Inc. | New | 0.06% | +0.06 |
Options Activity Q3 2024 → Q4 2024
| ZD Ziff Davis Inc. | put | Add +2361.2% | 3,802,500 | $116.0M |
| LW Lamb Weston Holdings Inc. | call | New | 479,700 | $32.1M |
| RIVN Rivian Automotive Inc. Class A | put | Add +66.8% | 1,251,000 | $16.7M |
| LUV Southwest Airlines Co. | put | Reduce -5.2% | 409,500 | $14.0M |
| MCHP Microchip Technology Inc. | put | Add +65.3% | 1,404,900 | $9.5M |
| SPHR Sphere Entertainment Co. | put | Add +28.9% | 167,500 | $6.8M |
| PGY Pagaya Technologies Ltd. Class A | put | Add +110.0% | 682,500 | $6.3M |
| ASPN Aspen Aerogels Inc. | put | New | 527,600 | $6.3M |
| RIG Transocean Ltd. | put | Add +206.0% | 1,301,200 | $4.9M |
| MIDD Middleby Corp. | put | Reduce -47.0% | 35,000 | $4.7M |
| VREX Varex Imaging Corp. | put | New | 320,000 | $4.7M |
| NCLH Norwegian Cruise Line Holdin | put | Reduce -14.3% | 171,400 | $4.4M |
| INFN Infinera Corp. | put | Sold out | 611,800 | $4.1Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 6,500 | $3.7Mbefore exit |
| ENOV Enovis Corp. | put | Add +38.0% | 69,000 | $3.0M |
| PTON Peloton Interactive Inc. Class A | put | Reduce -13.0% | 261,100 | $2.3M |
| FLNC Fluence Energy Inc. | put | New | 127,500 | $2.0M |
| CSWC Capital Southwest Corp. | put | New | 75,000 | $1.6M |
| GEVO Gevo Inc. | call | New | 573,000 | $1.2M |
| PENGUIN SOLUTIONS CAYMEN (PENG 2.25 02/15/26) | put | Reduce -74.2% | 50,000 | $963K |
| MARA Mara Holdings Inc. | put | New | 50,000 | $839K |
| PPTA Perpetua Resources Corp. | call | Sold out | 60,000 | $561Kbefore exit |
| UAMY United States Antimony Corp. | call | New | 125,400 | $220K |
| BHACW Crixus BH3 Acquisition -CW26 | call | Sold out | 990,000 | $41Kbefore exit |
| RIGL Rigel Pharmaceuticals Inc. | call | New | 100,000 | $28K |
| ASPN Aspen Aerogels Inc. | call | Reduce -99.9% | 600 | $7K |
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
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | Reduce -12.5% | 35,000,000 | $76.1M |
| VARONIS SYSTEM INC (VRNS 1.25 08/15/25) | NOTE 1.250% 8/1 · principal | Reduce -30.4% | 27,500,000 | $40.2M |
| STARWOOD PROPERTY TRUST (STWD 6.75 07/15/27) | NOTE 6.750% 7/1 · principal | Reduce -8.8% | 36,500,000 | $38.3M |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Sold out | 39,000,000 | $37.5Mbefore exit |
| LIVENT CORP (LTHM 4.125 07/15/25) | NOTE 4.125% 7/1 · principal | Sold out | 35,000,000 | $37.3Mbefore exit |
| SAREPTA THERAPEUTICS INC (SRPT 1.5 11/15/24) | DBCV 1.500%11/1 · principal | Sold out | 21,000,000 | $35.9Mbefore exit |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | New | 27,500,000 | $34.7M |
| PATRICK INDUSTRIES INC (PATK 1.75 12/01/28) | NOTE 1.750%12/0 · principal | Add +8.7% | 25,000,000 | $34.2M |
| SPIRIT AEROSYSTEMS INC (SPR 3.25 11/01/28) | NOTE 3.250%11/0 · principal | New | 25,000,000 | $33.9M |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Sold out | 20,000,000 | $31.6Mbefore exit |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | New | 25,000,000 | $30.1M |
| TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *) | DEB 4.625% 9/3 · principal | Add +43.3% | 21,500,000 | $29.3M |
| VAREX IMAGING CORPORATIO (VREX 4 06/01/25) | NOTE 4.000% 6/0 · principal | Reduce -8.9% | 28,000,000 | $28.4M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -31.3% | 27,500,000 | $27.3M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | New | 25,500,000 | $27.1M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Sold out | 27,500,000 | $26.4Mbefore exit |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | New | 16,500,000 | $18.0M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Sold out | 17,500,000 | $17.0Mbefore exit |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | Sold out | 17,500,000 | $16.8Mbefore exit |
| RIVIAN AUTO INC (RIVN 3.625 10/15/30) | NOTE 3.625%10/1 · principal | New | 17,500,000 | $15.7M |
| PALO ALTO NETWORKS (PANW 0.375 06/01/25) | NOTE 0.375% 6/0 · principal | Sold out | 4,000,000 | $13.7Mbefore exit |
| CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | New | 12,250,000 | $12.2M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | New | 10,000,000 | $12.2M |
| INSULET CORPORATION (PODD 0.375 09/01/26) | NOTE 0.375% 9/0 · principal | New | 8,500,000 | $10.8M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | New | 10,000,000 | $10.2M |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | Sold out | 7,500,000 | $9.5Mbefore exit |
| ENCORE CAPITAL GROUP INC (ECPG 4 03/15/29) | NOTE 4.000% 3/1 · principal | Sold out | 8,500,000 | $8.6Mbefore exit |
| INFINERA CORP (INFN 2.5 03/01/27) | NOTE 2.500% 3/0 · principal | Sold out | 7,500,000 | $8.0Mbefore exit |
| RAPID7 INC (RPD 1.25 03/15/29) | NOTE 1.250% 3/1 · principal | Add +650.0% | 7,500,000 | $7.2M |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | New | 6,000,000 | $5.9M |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | New | 1,000,000 | $940K |
| PPTA Perpetua Resources Corp. | COM · principal | Sold out | 100,000 | $4Kbefore 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 | 222 | $366.9M | AMKR, AUR, MRT, NSC, DYNC |
| Q1 2026 | 197 | $331.3M | MRT, MDLN, SARO, DBCA, CEPT |
| Q4 2025 | 173 | $289.4M | MRT, WELL, ELME, MTSI, ASTS |
| Q3 2025Amended | 136 | $238.3M | MRT, WELL, ITRI, ELME, NETD |
| Q2 2025Amended | 102 | $206.7M | WELL, MRT, SPOTIFY USA INC (SPOT 0 03/15/26), NETD, GWRE |
| Q1 2025Amended | 58 | $115.9M | MRT, ARES ACQUISITION CORP II, OACC, FTW, RAC.U |
| Q4 2024 | 31 | $76.8M | MRT, KDP, MIDD, FYBR, ALE |
| Q3 2024 | 15 | $39.1M | MIDD, IRTC, K, ALE, HES |
| Q2 2024 | 34 | $49.5M | MIDD, ZS, IRTC, ALNY, MRO |
| Q1 2024 | 25 | $39.6M | BUD, MCHP, Z, HES, TYL |