Highbridge Capital Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Highbridge Capital Management LLC reported 77 stock positions worth $698.0 million. Its top holding was Ishr Ibx Usd Hiyld CB ETF-Ui (HYG) at 14.8% of the portfolio, followed by Verona Pharma (VRNA, 7.6%) and Frontier Communications Pare (FYBR, 5.4%). Compared with Q2 2025, it opened 43 new positions, sold out of 43, added to 12 and reduced 9. The biggest buy was a new position in Ishr Ibx Usd Hiyld CB ETF-Ui (HYG) and the biggest sale an exit from Hess (HES).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0000919185
- Portfolio Value
- $698.0M (Q3 2025)
- SEC Filing
- 0000919185-25-000017 ↗ filed Nov 10, 2025
Holdings Value
Holdings 77 stocks · $698.0M
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 14.83% | 1,274,752 | $103.5M | New |
| VRNA Verona Pharma Ltd. | 7.64% | 500,000 | $53.4M | New |
| FYBR Frontier Communications Pare | 5.40% | 1,008,301 | $37.7M | Add +5.2% |
| TXNM TXNM Energy Inc. | 5.26% | 649,067 | $36.7M | Add +2063.6% |
| FOX Fox Corp. Class B | 5.10% | 621,202 | $35.6M | Add +85.4% |
| FWONA Liberty Media Corp. Class A | 4.43% | 324,643 | $30.9M | Reduce -11.1% |
| HEI.A Heico Corp. Class A | 3.94% | 108,294 | $27.5M | Reduce -43.4% |
| K Kellanova | 3.32% | 282,735 | $23.2M | Reduce -20.1% |
| NBR Nabors Industries Ltd. | 2.88% | 491,795 | $20.1M | Add +26.9% |
| NWSA News Corp. Class A | 2.84% | 645,632 | $19.8M | Reduce -1.3% |
| LLYVA Liberty Media Corp.-Liberty-A | 2.81% | 208,179 | $19.6M | Add +15.9% |
| GLIBK Liberty Capital Corp. Class C filed as GCI LIBERTY INC | 2.80% | 523,459 | $19.5M | Add +2220.0% |
| INFQ Infleqtion Inc. filed as CHURCHILL CAP CORP X | 2.55% | 1,383,928 | $17.8M | New |
| CYBR Cyberark Software Ltd./Israel | 2.40% | 34,740 | $16.8M | Add +136.3% |
| PPLI People Inc. filed as IAC INC | 2.36% | 484,325 | $16.5M | Add +68.9% |
| BATRK Atlanta Braves Holdings in-C | 2.35% | 393,633 | $16.4M | Add +34.9% |
| TONT Graf Global Corp. Class A | 2.27% | 1,500,000 | $15.8M | No change |
| MBVIU M3-Brigade Acquisition Vi Co. | 2.13% | 1,470,000 | $14.9M | New |
| CENTA Central Garden and Pet Co. Class A | 1.97% | 464,843 | $13.7M | Reduce -5.3% |
| MLNK Meridianlink Inc. | 1.89% | 662,128 | $13.2M | New |
| HCMA HCM III Acquisition Cor Class A | 1.45% | 1,000,000 | $10.1M | New |
| MKLYU McKinley Acquisition Corp. | 1.43% | 1,000,000 | $10.0M | New |
| STHO Star Holdings filed as STAR HLDGS | 1.41% | 1,196,132 | $9.8M | Reduce -1.7% |
| EMPD Empery Digital Inc. | 1.23% | 1,138,621 | $8.6M | New |
| CNNE Cannae Holdings Inc. | 1.16% | 442,713 | $8.1M | Add +12.3% |
| GSRT GSR III Acquisition Corp. | 1.11% | 750,000 | $7.8M | New |
| QUMS Quantumsphere Acquisition Co. | 0.86% | 600,000 | $6.0M | New |
| MRUS Merus NV | 0.79% | 58,605 | $5.5M | New |
| CVLT Commvault Systems Inc. | 0.78% | 28,700 | $5.4M | New |
| TACO Berto Acquisition Corp. | 0.75% | 500,000 | $5.2M | No change |
| HVMCU Highview Merger Corp. | 0.74% | 512,296 | $5.2M | New |
| BTDR Bitdeer Technologies Group-A | 0.69% | 283,500 | $4.8M | No change |
| FCRS.U Futurecrest Acquisition Corp. | 0.61% | 400,000 | $4.2M | New |
| SSEAU Starry Sea Acquisition Corp. | 0.59% | 405,851 | $4.1M | New |
| BDCIU BTC Development Corp. | 0.58% | 400,000 | $4.0M | New |
| JBS JBS NV-A | 0.58% | 270,323 | $4.0M | New |
| APACU Stonebridge Acquisition II C | 0.52% | 365,000 | $3.6M | New |
| WOLF Wolfspeed Inc. | 0.51% | 124,184 | $3.6M | New |
| COHU Cohu Inc. | 0.50% | 172,602 | $3.5M | New |
| LITE Lumentum Holdings Inc. | 0.44% | 18,900 | $3.1M | New |
| BCSS.U Bain Capital GSS Investment | 0.43% | 300,000 | $3.0M | New |
| DRDB Roman DBDR Acquisition Corp. | 0.37% | 250,000 | $2.6M | No change |
| FG MERGER II CORP | 0.36% | 254,607 | $2.5M | Add +163.3% |
| AEXA American Exceptionalism Class A | 0.33% | 212,500 | $2.3M | New |
| EMISU Emmis Acquisition Corp. | 0.31% | 220,000 | $2.2M | New |
| OKUR Onkure Therapeutics Inc. Class A | 0.26% | 650,218 | $1.8M | Reduce -2.0% |
| KW Kennedy-Wilson Holdings Inc. | 0.22% | 186,608 | $1.6M | Reduce -11.1% |
| PI Impinj Inc. | 0.21% | 8,001 | $1.4M | New |
| OSCR Oscar Health Inc. Class A | 0.19% | 69,100 | $1.3M | New |
| SM SM Energy Co. | 0.18% | 50,000 | $1.2M | No change |
| GTEN Gores Holdings X Inc. Class A | 0.15% | 100,000 | $1.0M | No change |
| EA Electronic Arts Inc. | 0.14% | 5,000 | $1.0M | New |
| GLIBA Liberty Capital Corp. filed as GCI LIBERTY INC | 0.14% | 26,541 | $997K | New |
| IRWD Ironwood Pharmaceuticals Inc. | 0.10% | 537,252 | $704K | New |
| ESPR Esperion Therapeutics Inc. | 0.10% | 254,265 | $674K | No change |
| NSC Norfolk Southern Corp. | 0.09% | 2,000 | $601K | New |
| OTGAU Otg Acquisition Corp. I | 0.08% | 54,986 | $554K | New |
| ETHA iShares Ethereum Trust ETF | 0.07% | 14,952 | $471K | New |
| TDS Telephone and Data Systems | 0.06% | 10,000 | $392K | No change |
| NTWOU Newbury Street II Acquisitio | 0.04% | 330,948 | $280K | New |
| BDMD Baird Medical Investment Hol | 0.04% | 125,000 | $265K | No change |
| BLZRU Trailblazer Acquisition Corp. | 0.04% | 25,000 | $256K | New |
| CID HOLDCO INC | 0.04% | 100,000 | $254K | No change |
| DMIIU Drugs Made in America Acquis | 0.04% | 25,000 | $249K | New |
| ULYX Urgent.ly Inc. | 0.03% | 68,748 | $222K | New |
| FIGXU Figx Capital Acquisition Cor | 0.03% | 22,470 | $181K | Reduce -95.5% |
| SBET Sharplink Inc. | 0.02% | 8,479 | $144K | New |
| ALPHA MODUS HLDGS INC | 0.02% | 112,500 | $134K | No change |
| HPAI Helport AI Ltd. | 0.02% | 37,375 | $130K | No change |
| HOUS Anywhere Real Estate Inc. | 0.02% | 10,000 | $106K | New |
| SBXUF Silverbox Corp. IV | 0.00% | 35,000 | $31K | New |
| GSRFU GSR IV Acquisition Corp. | 0.00% | 1,000 | $10K | New |
| CHECU Chenghe Acquisition III Co. | 0.00% | 1,000 | $10K | New |
| SD Sandridge Energy Inc. | 0.00% | 575 | $6K | No change |
| SHMD Schmid Group NV | 0.00% | 600 | $2K | New |
| CLDI Calidi Biotherapeutics Inc. | 0.00% | 1,042 | $2K | New |
| MRNO Murano Global Investments PL | 0.00% | 200 | $524 | Add +100.0% |
Options reported separately and not counted above: INVESCO QQQ TR puts ($150.1M), ISHARES TR puts ($81.2M), GAMESTOP CORP puts ($40.9M), ARK ETF TR puts ($34.5M), NIO INC puts ($11.5M), JBS N.V. calls ($3.7M), WOLFSPEED INC puts ($1.8M).
Other holdings (223): bonds, preferreds, convertibles and warrants · $1.3B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 140,000,000 | $142.1M | Reduce -3.5% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 70,000,000 | $129.0M | Reduce -17.6% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 50,000,000 | $62.8M | Add +150.0% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 40,000,000 | $54.8M | Reduce -7.0% |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | 44,559,000 | $44.0M | Reduce -24.8% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 41,553,000 | $42.9M | No change |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 35,083,000 | $42.8M | No change |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | 40,000,000 | $42.2M | Add +8.1% |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | 42,734,000 | $42.2M | Add +8.8% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 42,000,000 | $41.6M | No change |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 40,500,000 | $39.4M | Reduce -4.7% |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | 27,500,000 | $35.1M | Reduce -45.0% |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 37,000,000 | $32.6M | Reduce -7.5% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 27,904,000 | $31.0M | Reduce -15.2% |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 25,000,000 | $29.9M | No change |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 27,173,000 | $28.8M | Reduce -39.2% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 24,000,000 | $27.1M | No change |
| IRONWOOD PHARMACEUTICALS (IRWD 1.5 06/15/26) | NOTE 1.500% 6/1 · principal | 29,842,000 | $26.7M | Add +58.4% |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | 32,000,000 | $26.6M | Reduce -21.0% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 26,668,000 | $26.1M | Add +81.8% |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | 25,500,000 | $24.4M | Add +363.6% |
| GUESS INC (GES 3.75 04/15/28) | NOTE 3.750% 4/1 · principal | 19,450,000 | $19.3M | No change |
| REDFIN CORP (RDFN 0 10/15/25) | NOTE 10/1 · principal | 19,000,000 | $18.9M | No change |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | 21,220,000 | $18.4M | Add +30.8% |
| VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26) | NOTE 1.625% 3/1 · principal | 17,500,000 | $18.2M | Reduce -46.1% |
| KARYOPHARM THERAPEUTICS (KPTI 6 05/13/29 *) | NOTE 6.000% 5/1 · principal | 23,625,000 | $17.7M | No change |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | 18,722,000 | $17.6M | Add +836.1% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 15,000,000 | $15.2M | New |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 14,250,000 | $14.6M | No change |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | 15,050,000 | $14.3M | Reduce -36.8% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 9,253,000 | $13.0M | No change |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | 9,808,000 | $12.4M | No change |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 11,314,000 | $11.0M | New |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | 100,000 | $10.1M | Reduce -55.6% |
| FUBOTV INC (FUBO 3.25 02/15/26) | NOTE 3.250% 2/1 · principal | 10,000,000 | $9.9M | No change |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 7,672,000 | $9.2M | Reduce -46.7% |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | 7,882,000 | $9.0M | Reduce -29.7% |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 · principal | 710,173 | $8.3M | Reduce -21.5% |
| GOSSAMER BIO INC (GOSS 5 06/01/27) | NOTE 5.000% 6/0 · principal | 10,000,000 | $7.1M | Reduce -41.2% |
| INOTIV INC (NOTV 3.25 10/15/27) | NOTE 3.250%10/1 · principal | 28,250,000 | $6.9M | Reduce -0.9% |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 5,000,000 | $5.2M | New |
| LUMINAR TECHNOLOGIES INC (LAZR 9 01/15/30) | DEBT 9.000% 1/1 · principal | 9,700,000 | $4.6M | No change |
| AISPW Airship AI Holdings Inc.-CW28 | *W EXP 12/21/202 · principal | 2,313,165 | $3.9M | Reduce -15.1% |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 · principal | 955,313 | $3.5M | Add +32.3% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 3,750,000 | $3.2M | New |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | 465,074 | $3.2M | Add +3.1% |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | 10,000 | $2.7M | New |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | 2,500,000 | $2.6M | New |
| AMPX.WS Amprius Technologies Inc. | *W EXP 09/14/202 · principal | 665,623 | $2.4M | Reduce -73.8% |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 2,000,000 | $2.0M | New |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 · principal | 1,286,414 | $810K | Add +1.1% |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 09/25/203 · principal | 620,527 | $661K | New |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 · principal | 360,898 | $577K | Add +21.4% |
| AFRIW Forafric Global PLC -CW27 | *W EXP 06/09/202 · principal | 621,127 | $478K | Reduce -27.9% |
| MRNOW Murano Global BV-28 | *W EXP 03/19/202 · principal | 2,963,724 | $432K | Reduce -1.2% |
| FLDDW Fold Holdings Inc. -23 | *W EXP 02/14/203 · principal | 843,849 | $423K | Reduce -3.3% |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | 1,635,164 | $409K | Reduce -0.3% |
| VWAVW Visionwave Holdings Inc. | *W EXP 07/14/203 · principal | 950,114 | $391K | New |
| FUFUW Bitfufu Inc.-28 | *W EXP 03/01/202 · principal | 906,582 | $367K | Reduce -15.7% |
| BGLWW Blue Gold Ltd. | *W EXP 04/01/203 · principal | 731,555 | $335K | Reduce -31.2% |
| CHARR Charlton Aria Acquisi-Rights | RIGHT 12/31/2026 | 1,413,276 | $311K | Reduce -0.1% |
| QETAR Quetta Acquisition Corp.-RTS | RIGHT 99/99/9999 | 143,660 | $284K | Reduce -3.6% |
| MDAIW Spectral AI -CW27 | *W EXP 09/11/202 · principal | 383,618 | $272K | Reduce -42.7% |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 1,086,415 | $261K | No change |
| IAUX.WS I-80 Gold Corp. -26 | *W EXP 11/16/202 · principal | 700,000 | $258K | New |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | 2,507,239 | $251K | No change |
| ZEOWW Esgen Acquisition A -CW23 | *W EXP 03/13/202 · principal | 2,452,116 | $250K | Reduce -0.2% |
| BKHAR Black Hawk Acquisition C-RTS | RIGHT 06/20/2025 | 142,472 | $242K | Add +12.1% |
| SATLW Satellogic Inc.-A -23 | *W EXP 01/25/202 · principal | 724,843 | $225K | Reduce -13.6% |
| DMAAR Drugs Made in America Ac-RTS | RIGHT 12/09/2029 | 983,600 | $214K | Add +15.7% |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 · principal | 400,000 | $200K | Add +309.0% |
| AFJKR Aimei Health Technology Co. L | RIGHT 11/17/2028 | 643,658 | $193K | Reduce -0.0% |
| OAKUR Oak Woods Acquisition Cor-RT | RIGHT 03/23/2028 | 941,707 | $188K | Reduce -0.1% |
| GTERR Globa Terra Acquisition-RTS | RIGHT 06/17/2030 | 1,251,068 | $188K | New |
| KIDZW Classover Holdings Inc. - 30 | *W EXP 04/03/203 · principal | 2,279,097 | $183K | No change |
| HCMAW HCM III Acquisition Corp. -30 | *W EXP 07/23/203 · principal | 257,316 | $180K | New |
| BTMWQ Bitcoin Depot Inc.-CW23 | *W EXP 06/30/202 · principal | 733,145 | $176K | Reduce -27.0% |
| CNCKW Coincheck Group NV | *W EXP 12/11/202 · principal | 239,947 | $173K | Reduce -1.8% |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 · principal | 139,786 | $171K | New |
| IROHR Iron Horse Acquisitions Righ | RIGHT 99/99/9999 | 230,000 | $168K | Reduce -76.3% |
| ESHAR Esh Acquisition Corp. - Right | RIGHT 06/13/2028 | 776,705 | $165K | No change |
| BZAIW Burtech Acquisition -CW23 | *W EXP 01/13/203 · principal | 258,270 | $160K | Reduce -72.1% |
| VNMEW Vendome Acquisition Corp. I | *W EXP 07/03/202 · principal | 799,071 | $160K | New |
| VGASW Cenaq Energy Corp. Class A -CW27 | *W EXP 02/15/202 · principal | 1,542,439 | $159K | Reduce -4.0% |
| HPAIW Helport AI Ltd. -29 | *W EXP 03/31/202 · principal | 789,970 | $159K | Reduce -13.4% |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 · principal | 409,721 | $156K | Reduce -6.0% |
| NMPAR NMP Acquisition Corp. | RIGHT 06/27/2030 | 730,780 | $153K | New |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 · principal | 375,000 | $148K | Reduce -15.7% |
| CRGOW Freightos Ltd.-CW28 | *W EXP 99/99/999 · principal | 591,869 | $148K | Reduce -10.2% |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 · principal | 262,144 | $145K | Reduce -23.3% |
| TACOW Berto Acquisition Corp. - 30 | *W EXP 05/01/203 · principal | 207,508 | $142K | Reduce -8.8% |
| GTERW Globa Terra Acquisition - 30 | *W EXP 06/17/203 · principal | 938,301 | $136K | New |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 · principal | 408,848 | $135K | Reduce -0.0% |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 · principal | 443,834 | $133K | Reduce -2.3% |
| QUMSR Quantumsphere Acquisition Co. | RIGHT 08/06/2030 | 700,000 | $133K | New |
| BAYAR Bayview Acquisition Corp. | RIGHT 11/17/2028 | 809,082 | $129K | Reduce -31.0% |
| DYCQR DT Cloud Acquisition Cor-RTS | RIGHT 02/14/2029 | 643,786 | $129K | Reduce -8.9% |
| USA RARE EARTH INC | *W EXP 03/13/203 · principal | 17,401 | $123K | New |
| SLND.WS Legato Merger Corp. II -CW23 | *W EXP 02/14/202 · principal | 635,642 | $123K | Add +26.7% |
| PELIR Pelican Acquisition Corp.-RTS | RIGHT 05/02/2030 | 450,000 | $122K | No change |
| JENA ACQUISITION CORP II-RTS | RIGHT 03/31/2030 | 600,000 | $120K | Reduce -10.2% |
| NOEMR CO2 Energy Transition Co.-RTS | RIGHT 10/15/2028 | 588,770 | $115K | Reduce -0.2% |
| QSEAR Quartzsea Acquisition Corp. | RIGHT 02/18/2030 | 400,000 | $115K | No change |
| RAAQW REAL ASSET AQC Corp -30 | *W EXP 04/24/203 · principal | 248,942 | $112K | No change |
| SDHIR Siddhi Acquisition Corp. | RIGHT 09/15/2029 | 550,912 | $111K | No change |
| PACHW Pioneer Acquisition I Corp. | *W EXP 06/16/203 · principal | 497,364 | $109K | New |
| UYSCR Uy Scuti Acquisition Corp. | RIGHT 03/03/2030 | 400,000 | $108K | No change |
| LOTWW Lotus Technology Inc.-28 | *W EXP 02/22/202 · principal | 1,410,827 | $106K | Reduce -7.5% |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | 480,789 | $106K | No change |
| BACCR Blue Acquisition Corp.-RTS | RIGHT 06/11/2030 | 635,000 | $103K | Add +217.5% |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 · principal | 635,852 | $102K | Reduce -15.2% |
| TVAIR Thayer Ventures Acquisition | RIGHT 05/15/2030 | 564,913 | $102K | Add +75.2% |
| NAMMW Namib Minerals | *W EXP 06/05/203 · principal | 695,727 | $101K | No change |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 655,825 | $101K | Add +2.9% |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 · principal | 364,389 | $101K | Reduce 0.0% |
| NOEMW CO2 Energy Transition -28 | *W EXP 08/17/202 · principal | 582,259 | $99K | Reduce -1.3% |
| NETDW Nabors Energy Transiti-CW | *W EXP 09/01/202 · principal | 359,692 | $98K | Reduce -9.1% |
| RAC.WS Rithm Acquisition Corp. - 30 | *W EXP 99/99/999 · principal | 156,619 | $96K | Reduce -0.0% |
| APADR A Paradise Acquisition Corp. | RIGHT 07/29/2025 | 600,000 | $96K | New |
| CPTWF Captivision Inc.-28 | *W EXP 11/15/202 · principal | 2,356,611 | $94K | Reduce -5.7% |
| GPATW GP-Act III Acq Class A -CW27 | *W EXP 05/13/202 · principal | 358,166 | $93K | Reduce -2.1% |
| RNWWW Renew Energy Global -CW26 | *W EXP 08/21/202 · principal | 2,036,774 | $93K | Reduce -16.4% |
| ALCWF Alchemy Investments Acqui-28 | *W EXP 11/30/202 · principal | 699,390 | $91K | No change |
| DTSQR DT Cloud Star Acquisition Co. | RIGHT 07/09/2029 | 450,000 | $90K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 · principal | 406,746 | $89K | Reduce -3.2% |
| INFQ.WS Churchill Capital Corp. X | *W EXP 05/14/203 · principal | 25,000 | $89K | New |
| RIBBR Ribbon Acquisition Corp. | RIGHT 12/31/2026 | 400,000 | $88K | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 · principal | 4,656,021 | $88K | Reduce -7.9% |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 456,720 | $87K | Reduce -0.6% |
| CAPNR Cayson Acquisition Corp. | RIGHT 99/99/9999 | 540,013 | $86K | Add +0.2% |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 · principal | 498,365 | $85K | Add +2.4% |
| VFSWW Vinfast Auto Ltd.-28 | *W EXP 08/11/202 · principal | 407,078 | $85K | Reduce -22.9% |
| INACR Indigo Acquisition Corp. | RIGHT 04/02/2027 | 475,000 | $83K | New |
| GRMLW Anew Medical Inc. | *W EXP 06/21/202 · principal | 822,023 | $82K | Reduce -2.3% |
| ANNAW Aleanna Inc. Class A - 29 | *W EXP 12/13/202 · principal | 355,005 | $81K | Reduce -66.9% |
| FVNNR Future Vision II Acquisi-RTS | RIGHT 06/29/2029 | 444,327 | $80K | Add +28.2% |
| HSPTR Horizon Space Acquisition II | RIGHT 03/30/2026 | 529,297 | $79K | Reduce -0.1% |
| PSQH.WS Colombier Acq Class A -CW28 | *W EXP 07/19/202 · principal | 416,196 | $79K | Reduce -47.7% |
| CHPGR Championsgate Acquisition Co. | RIGHT 05/14/2030 | 544,975 | $76K | Add +0.1% |
| CCAQW Dune Acquisition Corp. II -30 | *W EXP 04/04/203 · principal | 333,468 | $73K | No change |
| FOXXW 1OXX | *W EXP 09/26/202 · principal | 471,906 | $73K | Reduce -3.4% |
| ANSCW Agriculture & Natural Solu-W | *W EXP 10/01/202 · principal | 261,286 | $65K | Reduce -47.5% |
| ASPCR A Spac III Acquisition Corp. | RIGHT 01/02/2026 | 334,378 | $64K | Reduce -0.0% |
| TVGNW Semper Paratus Acqu -CW26 | *W EXP 02/14/202 · principal | 1,151,624 | $63K | Reduce -23.0% |
| BCARW D Boral Arc Acquisition - 30 | *W EXP 07/23/203 · principal | 287,499 | $63K | New |
| AXINR Axiom Intelligence Acquisiti | RIGHT 06/10/2030 | 359,794 | $58K | Add +79.9% |
| KVAWF Keen Vision Acquisition C-28 | *W EXP 03/15/202 · principal | 861,455 | $57K | Reduce -5.1% |
| COLAR Columbus Acquisition Corp. | RIGHT 99/99/9999 | 297,670 | $56K | No change |
| OPTXW Omnilit Acquisition Class A -23 | *W EXP 99/99/999 · principal | 569,109 | $54K | No change |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 197,115 | $53K | No change |
| SOCAW Solarius Capital Acqui -30 | *W EXP 07/10/203 · principal | 273,708 | $53K | New |
| BLUWW Blue Water Acquisition-CW26 | *W EXP 05/23/203 · principal | 370,525 | $52K | New |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 · principal | 100,000 | $51K | No change |
| LCCCR Lakeshore Acquisition III Co. | RIGHT 08/01/2026 | 251,000 | $51K | No change |
| OBAWW Oxley Bridge Acq Ltd. -30 | *W EXP 06/17/203 · principal | 294,223 | $50K | New |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 · principal | 133,240 | $49K | Reduce -47.4% |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | 615,729 | $49K | Reduce 0.0% |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 · principal | 212,999 | $49K | Reduce -0.8% |
| SCAGW Scage Future -30 | *W EXP 05/15/203 · principal | 978,151 | $48K | Reduce -1.0% |
| COPL.WS Copley Acquisition Corp. -30 | *W EXP 99/99/999 · principal | 234,159 | $47K | No change |
| CRAQR Cal Redwood Acquisition Corp. | RIGHT 05/15/2030 | 200,000 | $46K | No change |
| ATMCW Alphatime Acquisition Cor-28 | *W EXP 03/01/202 · principal | 634,446 | $45K | Reduce -12.4% |
| FACWW Cartesian Growth Corp. -30 | *W EXP 05/02/203 · principal | 175,780 | $44K | No change |
| WTGUR Wintergreen Acquisition-RT | RIGHT 99/99/9999 | 262,736 | $42K | Reduce -24.9% |
| SOULPOWER ACQUISITION CORP | RIGHT 99/99/9999 | 209,640 | $40K | Add +4.8% |
| SHMDW Schmid Group NV -28 | *W EXP 04/30/202 · principal | 137,036 | $40K | Reduce -13.1% |
| ADSEW ADS-Tec Energy PLC-WRNT | *W EXP 99/99/999 · principal | 35,476 | $40K | Reduce -55.8% |
| TACHW Titan Acquisition Corp -30 | *W EXP 05/16/203 · principal | 124,935 | $38K | Reduce -0.1% |
| HSPRF Horizon Space Acquisition-RT | RIGHT 12/27/2024 | 234,163 | $37K | Add +45.2% |
| SVIRF Spring Valley Acquisit-Right | RIGHT 02/25/2026 | 69,994 | $35K | Reduce -94.8% |
| ORIQW Origin Investment Corp. I -30 | *W EXP 06/27/203 · principal | 199,989 | $34K | New |
| FIGXW Figx Capital Acquisition Cor | *W EXP 06/17/203 · principal | 146,744 | $34K | New |
| RDAGW Republic Digital Acqu - 30 | *W EXP 05/01/203 · principal | 50,000 | $33K | No change |
| CHACR Crane Harbor Acquisition-RTS | RIGHT 04/17/2030 | 100,000 | $32K | Reduce -50.0% |
| OSRHW Bellevue Life Sciences-WRNT | *W EXP 02/09/202 · principal | 774,767 | $31K | No change |
| PERFF Perfect Corp. | *W EXP 10/28/202 · principal | 2,030,790 | $29K | Reduce -11.9% |
| GIBOW Gibo Holdings Ltd.-30 | *W EXP 05/08/203 · principal | 669,880 | $27K | Reduce -10.6% |
| DAICW Cid Holdco Inc. -26 | *W EXP 12/31/202 · principal | 163,778 | $25K | Reduce -62.1% |
| KFIIR K&F Growth Acquisition Corp. | RIGHT 08/29/2031 | 164,421 | $25K | Reduce -13.2% |
| KCHVR Kochav Defense Acquisition-R | RIGHT 05/21/2030 | 112,000 | $25K | New |
| GTENW Gores Holdings X Inc.-31 | *W EXP 05/02/203 · principal | 25,000 | $22K | No change |
| AMBWQ Ambipar Emergency Respons-28 | *W EXP 03/03/202 · principal | 500,000 | $21K | No change |
| BSAAR Best Spac I Acquisition - RT | RIGHT 05/27/2030 | 149,700 | $21K | Reduce -0.2% |
| BOWNR Bowen Acquisition Corp.-RTS | RIGHT 99/99/9999 | 85,324 | $21K | Reduce -12.9% |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 · principal | 45,540 | $20K | Reduce -62.0% |
| EONR.WS HNR Acquisition Corp. -CW23 | *W EXP 11/15/202 · principal | 374,272 | $19K | Reduce -11.9% |
| SZZLR Sizzle Acquisition Corp. -RTS | RIGHT 04/02/2030 | 107,951 | $18K | Add +0.0% |
| LWACW Lightwave Acquisition Corp. | *W EXP 06/06/203 · principal | 93,650 | $17K | New |
| LIMNW Liminatus Pharma Inc. Class A-28 | *W EXP 04/30/203 · principal | 144,425 | $17K | Add +7.9% |
| ASBPW Aspire Biopharma Holdin-CW27 | *W EXP 02/14/203 · principal | 553,709 | $17K | Reduce -47.0% |
| NPACW New Providence Acq A -CW28 | *W EXP 04/24/203 · principal | 39,765 | $16K | No change |
| MLKWF Waldencast Acq Class A -CW27 | *W EXP 07/27/202 · principal | 429,771 | $16K | Reduce -66.9% |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 · principal | 150,477 | $15K | Reduce -29.1% |
| FORLW Four Leaf Acquisition Cor-28 | *W EXP 03/15/202 · principal | 396,342 | $14K | Reduce -19.8% |
| AERTW Aeries Technology Inc. -CW23 | *W EXP 11/06/202 · principal | 345,169 | $14K | Reduce -43.0% |
| EVAC.WS Eqv Ventures Acquisition Cor | *W EXP 06/30/203 · principal | 49,699 | $12K | New |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 · principal | 49,004 | $10K | Reduce -8.6% |
| SDSTW Global Partner Acq A -CW27 | *W EXP 06/21/202 · principal | 122,204 | $9K | Reduce -69.0% |
| ALVOW Alvotech SA -27 | *W EXP 99/99/999 · principal | 5,847 | $9K | New |
| PLMKW Plum Acquisition Corp. IV-30 | *W EXP 08/19/202 · principal | 26,300 | $7K | Reduce -81.9% |
Largest 200 of 223 shown.
Total filed on the 13F, all lines: $2.0B.
Portfolio Sells Q2 2025 → Q3 2025
| HES Hess Corp. | Sold out | 0.00% | −12.29 |
| ALE Allete Inc. | Sold out | 0.00% | −8.96 |
| AMED Amedisys Inc. | Sold out | 0.00% | −5.18 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −3.93 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −3.79 |
| HEI.A Heico Corp. Class A | Reduce -43.4% | 3.94% | −3.77 |
| LBRDK Liberty Broadband-C | Sold out | 0.00% | −1.73 |
| LLYVK Liberty Media Corp.-Liberty-C | Sold out | 0.00% | −1.67 |
| SBXDF Silverbox Corp. IV-A | Sold out | 0.00% | −1.62 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −1.53 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −1.14 |
| VIGL Vigil Neuroscience Inc. | Sold out | 0.00% | −1.07 |
| JENA.U Jena Acquisition Corp. II | Sold out | 0.00% | −1.07 |
| K Kellanova | Reduce -20.1% | 3.32% | −1.06 |
| FWONA Liberty Media Corp. Class A | Reduce -11.1% | 4.43% | −0.97 |
| OBAWU Oxley Bridge Acquisition Ltd. | Sold out | 0.00% | −0.78 |
| PACHU Pioneer Acquisition I Corp. | Sold out | 0.00% | −0.78 |
| FIGXU Figx Capital Acquisition Cor | Reduce -95.5% | 0.03% | −0.75 |
| WTGUU Wintergreen Acquisition Corp. | Sold out | 0.00% | −0.55 |
| TVAIU Thayer Ventures Acquisition | Sold out | 0.00% | −0.51 |
| LCID Lucid Group Inc. | Sold out | 0.00% | −0.51 |
| CENTA Central Garden and Pet Co. Class A | Reduce -5.3% | 1.97% | −0.43 |
| BLUWU Blue Water Acquisition III | Sold out | 0.00% | −0.39 |
| HTZ Hertz Global Hldgs Inc. | Sold out | 0.00% | −0.34 |
| CAEP Cantor Equity Partners III-A | Sold out | 0.00% | −0.33 |
| AXINU Axiom Intelligence Acquisiti | Sold out | 0.00% | −0.31 |
| LWACU Lightwave Acquisition Corp. | Sold out | 0.00% | −0.31 |
| BACCU Blue Acquisition Corp. | Sold out | 0.00% | −0.31 |
| FAC Factorial Energy Inc. | Sold out | 0.00% | −0.31 |
| ARES ACQUISITION CORP II | Sold out | 0.00% | −0.25 |
| CHPG Championsgate Acquisitio-A | Sold out | 0.00% | −0.23 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −0.19 |
| NWSA News Corp. Class A | Reduce -1.3% | 2.84% | −0.19 |
| INFQ.WS Churchill Capital Corp. X | Sold out | 0.00% | −0.16 |
| RDAG Republic Digital Acquis Class A | Sold out | 0.00% | −0.16 |
| NPAC New Providence Acquisition-A | Sold out | 0.00% | −0.10 |
| GOSS Gossamer Bio Inc. | Sold out | 0.00% | −0.10 |
| MCGAW Yorkville Acquisition - 30 | Sold out | 0.00% | −0.08 |
| XRPN Armada Acquisition Class A | Sold out | 0.00% | −0.08 |
| STHO Star Holdings | Reduce -1.7% | 1.41% | −0.07 |
| FGMCU FG Merger II Corp. | Sold out | 0.00% | −0.07 |
| ACHV Achieve Life Sciences Inc. | Sold out | 0.00% | −0.05 |
| WDC Western Digital Corp. | Sold out | 0.00% | −0.01 |
| PCAPU Procap Acquisition Corp. | Sold out | 0.00% | −0.00 |
| EGHA Egh Acquisition Co. Class A | Sold out | 0.00% | −0.00 |
| OYSEU Oyster Enterprises II Acquis | Sold out | 0.00% | −0.00 |
| WENNU Wen Acquisition Corp. | Sold out | 0.00% | −0.00 |
| CLDI Calidi Biotherapeutics Inc. | Sold out | 0.00% | −0.00 |
| VFS Vinfast Auto Ltd. | Sold out | 0.00% | −0.00 |
| STARDUST PWR INC | Sold out | 0.00% | 0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 14.83% | +14.83 |
| VRNA Verona Pharma Ltd. | New | 7.64% | +7.64 |
| TXNM TXNM Energy Inc. | Add +2063.6% | 5.26% | +5.00 |
| GLIBK Liberty Capital Corp. Class C | Add +2220.0% | 2.80% | +2.66 |
| INFQ Infleqtion Inc. | New | 2.55% | +2.55 |
| FOX Fox Corp. Class B | Add +85.4% | 5.10% | +2.41 |
| MBVIU M3-Brigade Acquisition Vi Co. | New | 2.13% | +2.13 |
| MLNK Meridianlink Inc. | New | 1.89% | +1.89 |
| CYBR Cyberark Software Ltd./Israel | Add +136.3% | 2.40% | +1.47 |
| HCMA HCM III Acquisition Cor Class A | New | 1.45% | +1.45 |
| MKLYU McKinley Acquisition Corp. | New | 1.43% | +1.43 |
| EMPD Empery Digital Inc. | New | 1.23% | +1.23 |
| NBR Nabors Industries Ltd. | Add +26.9% | 2.88% | +1.19 |
| GSRT GSR III Acquisition Corp. | New | 1.11% | +1.11 |
| QUMS Quantumsphere Acquisition Co. | New | 0.86% | +0.86 |
| MRUS Merus NV | New | 0.79% | +0.79 |
| CVLT Commvault Systems Inc. | New | 0.78% | +0.78 |
| HVMCU Highview Merger Corp. | New | 0.74% | +0.74 |
| PPLI People Inc. | Add +68.9% | 2.36% | +0.70 |
| FCRS.U Futurecrest Acquisition Corp. | New | 0.61% | +0.61 |
| LLYVA Liberty Media Corp.-Liberty-A | Add +15.9% | 2.81% | +0.59 |
| SSEAU Starry Sea Acquisition Corp. | New | 0.59% | +0.59 |
| BDCIU BTC Development Corp. | New | 0.58% | +0.58 |
| JBS JBS NV-A | New | 0.58% | +0.58 |
| APACU Stonebridge Acquisition II C | New | 0.52% | +0.52 |
| WOLF Wolfspeed Inc. | New | 0.51% | +0.51 |
| COHU Cohu Inc. | New | 0.50% | +0.50 |
| LITE Lumentum Holdings Inc. | New | 0.44% | +0.44 |
| BCSS.U Bain Capital GSS Investment | New | 0.43% | +0.43 |
| AEXA American Exceptionalism Class A | New | 0.33% | +0.33 |
| EMISU Emmis Acquisition Corp. | New | 0.31% | +0.31 |
| BATRK Atlanta Braves Holdings in-C | Add +34.9% | 2.35% | +0.22 |
| FG MERGER II CORP | Add +163.3% | 0.36% | +0.22 |
| PI Impinj Inc. | New | 0.21% | +0.21 |
| OSCR Oscar Health Inc. Class A | New | 0.19% | +0.19 |
| EA Electronic Arts Inc. | New | 0.14% | +0.14 |
| GLIBA Liberty Capital Corp. | New | 0.14% | +0.14 |
| IRWD Ironwood Pharmaceuticals Inc. | New | 0.10% | +0.10 |
| NSC Norfolk Southern Corp. | New | 0.09% | +0.09 |
| OTGAU Otg Acquisition Corp. I | New | 0.08% | +0.08 |
| ETHA iShares Ethereum Trust ETF | New | 0.07% | +0.07 |
| NTWOU Newbury Street II Acquisitio | New | 0.04% | +0.04 |
| BLZRU Trailblazer Acquisition Corp. | New | 0.04% | +0.04 |
| DMIIU Drugs Made in America Acquis | New | 0.04% | +0.04 |
| ULYX Urgent.ly Inc. | New | 0.03% | +0.03 |
| SBET Sharplink Inc. | New | 0.02% | +0.02 |
| HOUS Anywhere Real Estate Inc. | New | 0.02% | +0.02 |
| SBXUF Silverbox Corp. IV | New | 0.00% | +0.00 |
| GSRFU GSR IV Acquisition Corp. | New | 0.00% | +0.00 |
| CHECU Chenghe Acquisition III Co. | New | 0.00% | +0.00 |
Options Activity Q2 2025 → Q3 2025
| ISHARES TR | put | Sold out | 1,750,000 | $377.6Mbefore exit |
| INVESCO QQQ TR | put | New | 250,000 | $150.1M |
| ISHARES TR | put | New | 1,000,000 | $81.2M |
| STRATEGY INC | call | Sold out | 125,000 | $50.5Mbefore exit |
| STATE STR SPDR S&P 500 ETF T | put | Sold out | 70,000 | $43.2Mbefore exit |
| ARK ETF TR | put | New | 400,000 | $34.5M |
| NIO INC | put | Add +908.4% | 1,512,600 | $11.5M |
| TRUMP MEDIA & TECHNOLOGY GRO | put | Sold out | 300,000 | $5.4Mbefore exit |
| JBS N.V. | call | New | 250,000 | $3.7M |
| HERTZ GLOBAL HLDGS INC | put | Sold out | 500,000 | $3.4Mbefore exit |
| WOLFSPEED INC | put | New | 64,557 | $1.8M |
| ADS TEC ENERGY PLC | call | Sold out | 45,500 | $628Kbefore exit |
| GORILLA TECHNOLOGY GROUP INC | call | Sold out | 6,200 | $123Kbefore 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 2025 → Q3 2025
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -3.5% | 140,000,000 | $142.1M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | Reduce -17.6% | 70,000,000 | $129.0M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Add +150.0% | 50,000,000 | $62.8M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Reduce -7.0% | 40,000,000 | $54.8M |
| BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) | NOTE 0.125% 1/1 · principal | Reduce -24.8% | 44,559,000 | $44.0M |
| NIO INC (NIO 3.875 10/15/29) | NOTE 3.875%10/1 · principal | Add +8.1% | 40,000,000 | $42.2M |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | Add +8.8% | 42,734,000 | $42.2M |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | Reduce -4.7% | 40,500,000 | $39.4M |
| UGI CORP (UGI 5 06/01/28) | NOTE 5.000% 6/0 · principal | Reduce -45.0% | 27,500,000 | $35.1M |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | Reduce -7.5% | 37,000,000 | $32.6M |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | Reduce -15.2% | 27,904,000 | $31.0M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Reduce -39.2% | 27,173,000 | $28.8M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Sold out | 23,500,000 | $27.8Mbefore exit |
| IRONWOOD PHARMACEUTICALS (IRWD 1.5 06/15/26) | NOTE 1.500% 6/1 · principal | Add +58.4% | 29,842,000 | $26.7M |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | Reduce -21.0% | 32,000,000 | $26.6M |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Add +81.8% | 26,668,000 | $26.1M |
| GREEN PLAINS INC (GPRE 2.25 03/15/27) | NOTE 2.250% 3/1 · principal | Add +363.6% | 25,500,000 | $24.4M |
| ARRAY TECHNOLOGIES INC (ARRY 1 12/01/28) | NOTE 1.000%12/0 · principal | Add +30.8% | 21,220,000 | $18.4M |
| VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26) | NOTE 1.625% 3/1 · principal | Reduce -46.1% | 17,500,000 | $18.2M |
| EVENTBRITE INC (EB 0.75 09/15/26) | NOTE 0.750% 9/1 · principal | Add +836.1% | 18,722,000 | $17.6M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | New | 15,000,000 | $15.2M |
| HERBALIFE LTD (HLF 4.25 06/15/28) | NOTE 4.250% 6/1 · principal | Reduce -36.8% | 15,050,000 | $14.3M |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | Sold out | 12,675,000 | $13.2Mbefore exit |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | Sold out | 100,000 | $11.6Mbefore exit |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | New | 11,314,000 | $11.0M |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | Sold out | 13,816,000 | $10.6Mbefore exit |
| BRIGHTSPRING HEALTH SERV (BTSG 6.75 02/01/27) | UNIT 02/01/2027 | Reduce -55.6% | 100,000 | $10.1M |
| QXO INC (QXO 5.5 05/15/28 B) | 5.50 DEP PFD | Sold out | 154,400 | $9.6Mbefore exit |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | Reduce -46.7% | 7,672,000 | $9.2M |
| Q2 HOLDINGS INC (QTWO 0.75 06/01/26) | NOTE 0.750% 6/0 · principal | Reduce -29.7% | 7,882,000 | $9.0M |
| CORZW Core Scientific Inc. - 27 | *W EXP 01/23/202 · principal | Reduce -21.5% | 710,173 | $8.3M |
| GOSSAMER BIO INC (GOSS 5 06/01/27) | NOTE 5.000% 6/0 · principal | Reduce -41.2% | 10,000,000 | $7.1M |
| INOTIV INC (NOTV 3.25 10/15/27) | NOTE 3.250%10/1 · principal | Reduce -0.9% | 28,250,000 | $6.9M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | New | 5,000,000 | $5.2M |
| AISPW Airship AI Holdings Inc.-CW28 | *W EXP 12/21/202 · principal | Reduce -15.1% | 2,313,165 | $3.9M |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 · principal | Add +32.3% | 955,313 | $3.5M |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | New | 3,750,000 | $3.2M |
| GENVR Gen Digital Inc. - CVR | RIGHT 99/99/9999 | Add +3.1% | 465,074 | $3.2M |
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A | New | 10,000 | $2.7M |
| SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29) | NOTE 3.500% 3/0 · principal | New | 2,500,000 | $2.6M |
| AMPX.WS Amprius Technologies Inc. | *W EXP 09/14/202 · principal | Reduce -73.8% | 665,623 | $2.4M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | New | 2,000,000 | $2.0M |
| BULLW Webull Corp.-30 | *W EXP 04/10/203 · principal | Sold out | 494,116 | $2.0Mbefore exit |
| TILRAY BRANDS INC (TLRY 5.2 06/15/27) | NOTE 5.200% 6/1 · principal | Sold out | 2,050,000 | $1.9Mbefore exit |
| LZM.WS Lifezone Metals Ltd. -28 | *W EXP 07/05/202 · principal | Add +1.1% | 1,286,414 | $810K |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 09/25/203 · principal | New | 620,527 | $661K |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 · principal | Sold out | 575,000 | $633Kbefore exit |
| VCICW Vine Hill Capital Class A-2 | *W EXP 07/01/203 · principal | Add +21.4% | 360,898 | $577K |
| AFRIW Forafric Global PLC -CW27 | *W EXP 06/09/202 · principal | Reduce -27.9% | 621,127 | $478K |
| MRNOW Murano Global BV-28 | *W EXP 03/19/202 · principal | Reduce -1.2% | 2,963,724 | $432K |
Showing the first 50 of 199.
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 | 219 | $1.5B | EA, SBET, LLYVK, KVUE, WBD |
| Q1 2026 | 169 | $1.0B | EA, HOLX, WIX, CWAN, NVRI |
| Q4 2025 | 106 | $1.3B | EA, ELME, CYBR, FOX, FYBR |
| Q3 2025 | 77 | $698.0M | HYG, VRNA, FYBR, TXNM, FOX |
| Q2 2025 | 77 | $642.4M | HES, ALE, HEI.A, FYBR, FWONA |
| Q1 2025 | 59 | $620.9M | IWM, HES, ALE, FYBR, AMED |
| Q4 2024 | 79 | $697.9M | HES, ALE, SUM, FYBR, AMED |
| Q3 2024 | 57 | $574.7M | LBRDK, HES, HEI.A, LLYVK, AMED |
| Q2 2024 | 48 | $378.9M | LBRDK, HES, LLYVK, AMED, NVEI |
| Q1 2024 | 33 | $333.9M | LBRDK, PXD, LLYVK, HES, NEE |