Shenkman Capital Management Inc.

Name: SHENKMAN CAPITAL MANAGEMENT INC 13F holdings, Q1 2025
Creator: SHENKMAN CAPITAL MANAGEMENT INC
Published: 2025-05-14

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Shenkman Capital Management Inc. reported 10 stock positions worth $120.1 million. Its top holding was Invesco Senior Loan ETF (BKLN) at 46.8% of the portfolio, followed by iShares Broad Usd High Yield (USHY, 15.0%) and Lendingtree (TREE, 9.8%). Compared with Q4 2024, it opened 1 new position, sold out of 1, added to 4 and reduced 4. The biggest buy was Invesco Senior Loan ETF (BKLN, shares +153%) and the biggest sale Lendingtree (TREE, shares −38%).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001275228
Portfolio Value: $120.1M (Q1 2025)
SEC Filing: 0001085146-25-003137 ↗ filed May 14, 2025

Holdings Value

Holdings 10 stocks · $120.1M


BKLN Invesco Senior Loan ETF	46.79%	2,724,105	$56.2M	Add +153.3%
USHY iShares Broad Usd High Yield	15.00%	495,850	$18.0M	Add +580.6%
TREE Lendingtree Inc.	9.83%	234,967	$11.8M	Reduce -38.5%
TETRA TECH INC (TTEK 2.25 08/15/28)	8.43%	9,342,000	$10.1M	Add +22.6%
SJNK SS SPDR BB St Hi Yield ETF	5.86%	280,040	$7.0M	Add +566.1%
OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC	4.04%	1,801,300	$4.9M	New
SMC Summit Midstream Corp.	2.90%	102,745	$3.5M	Reduce -53.2%
CCO Clear Channel Outdoor Holdin	2.73%	2,954,589	$3.3M	No change
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30)	2.67%	12,136,000	$3.2M	Reduce -0.2%
NRG ENERGY INC (NRG 2.75 06/01/48)	1.74%	892,000	$2.1M	Reduce -25.7%

Other holdings (116): bonds, preferreds, convertibles and warrants · $863.5M (not counted above)

Security	Class	Shares / Principal	Value	Change
ETSY INC (ETSY 0.25 06/15/28)	NOTE 0.250% 6/1 · principal	67,181,000	$57.3M	Add +459.8%
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	37,465,634	$42.5M	Add +23.4%
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29)	NOTE 1.125% 2/1 · principal	26,039,000	$25.3M	Add +57.2%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	19,584,000	$24.2M	Add +186.7%
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	22,294,000	$20.8M	Reduce -41.7%
COINBASE GLOBAL INC (COIN 0.5 06/01/26)	NOTE 0.500% 6/0 · principal	20,706,000	$20.3M	New
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	18,769,000	$17.4M	Reduce -43.5%
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	17,271,000	$16.7M	New
SABRE GLBL INC (SABHLD 4 04/15/25)	NOTE 4.000% 4/1 · principal	15,994,000	$16.3M	Add +1.4%
WAYFAIR INC (W 1 08/15/26)	NOTE 1.000% 8/1 · principal	15,139,000	$14.2M	Add +194.7%
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	13,742,000	$13.9M	Reduce -34.6%
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	13,252,000	$13.7M	Reduce -55.8%
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	13,015,000	$13.5M	New
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28)	NOTE 1.750% 6/1 · principal	13,424,000	$13.5M	Reduce -31.2%
LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28)	NOTE 0.500% 6/1 · principal	14,457,000	$13.4M	Add +41.4%
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN)	MTNF 0.600% 5/2 · principal	12,416,000	$12.7M	Reduce -8.8%
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	10,938,000	$12.5M	Reduce -12.7%
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	9,915,000	$12.4M	Reduce -21.3%
EVERGY INC (EVRG 4.5 12/15/27)	NOTE 4.500%12/1 · principal	10,093,000	$12.3M	Add +66.8%
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	9,652,000	$11.4M	New
ADVANCED ENERGY IND (AEIS 2.5 09/15/28)	NOTE 2.500% 9/1 · principal	10,145,000	$10.7M	Add +0.4%
ON SEMICONDUCTOR CORP (ON 0 05/01/27)	NOTE 5/0 · principal	9,674,000	$10.6M	Add +38596.0%
GUARDANT HEALTH INC (GH 0 11/15/27)	NOTE 11/1 · principal	11,886,000	$10.6M	Reduce -68.5%
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27)	NOTE 1.000% 9/1 · principal	8,449,000	$10.0M	Reduce -46.3%
WAYFAIR INC (W 3.5 11/15/28)	NOTE 3.500%11/1 · principal	8,918,000	$10.0M	Add +49.5%
SEAGATE HDD CAYMAN (STX 3.5 06/01/28)	NOTE 3.500% 6/0 · principal	7,925,000	$9.8M	Add +7.8%
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	8,182,000	$9.7M	Reduce -39.7%
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27)	NOTE 2.500% 7/1 · principal	8,963,000	$9.6M	New
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28)	NOTE 1.000% 8/1 · principal	7,151,000	$9.4M	Reduce -40.2%
VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30)	NOTE 2.250% 9/1 · principal	10,162,000	$9.4M	New
SPOTIFY USA INC (SPOT 0 03/15/26)	NOTE 3/1 · principal	7,596,000	$9.3M	Add +7.7%
LIVANOVA PLC (LIVN 2.5 03/15/29)	NOTE 2.500% 3/1 · principal	9,258,000	$9.2M	New
LYFT INC (LYFT 0.625 03/01/29)	NOTE 0.625% 3/0 · principal	8,908,000	$9.0M	New
WORKIVA INC (WK 1.25 08/15/28)	NOTE 1.250% 8/1 · principal	9,255,000	$9.0M	Reduce -41.4%
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29)	NOTE 1.500%12/1 · principal	7,310,000	$8.9M	Reduce -23.0%
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28)	NOTE 3.750% 3/1 · principal	8,096,000	$8.7M	Reduce -37.0%
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29)	NOTE 1.500% 9/0 · principal	8,081,000	$8.7M	New
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27)	NOTE 2.250% 8/1 · principal	6,975,000	$8.7M	Add +12.4%
VENTAS REALTY LP (VTR 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	6,614,000	$8.7M	Reduce -36.7%
TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024)	NOTE 1.500% 3/1 · principal	8,879,000	$8.7M	New
FORD MOTOR COMPANY (F 0 03/15/26)	NOTE 3/1 · principal	8,656,000	$8.5M	Add +17.6%
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	7,457,000	$8.4M	New
POST HOLDINGS INC (POST 2.5 08/15/27)	NOTE 2.500% 8/1 · principal	6,878,000	$8.4M	Reduce -16.5%
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	6,950,000	$8.3M	Add +1637.5%
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	8,179,000	$8.3M	Add +94.8%
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	7,519,000	$8.1M	Add +21.6%
TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28)	NOTE 1.500% 6/0 · principal	7,005,000	$7.8M	New
GREENBRIER COS INC (GBX 2.875 04/15/28)	NOTE 2.875% 4/1 · principal	6,667,000	$7.7M	Reduce -31.4%
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	6,532,000	$7.3M	New
TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29)	NOTE 2.250% 3/0 · principal	6,874,000	$7.2M	New
LI AUTO INC (LI 0.25 05/01/28)	NOTE 0.250% 5/0 · principal	6,006,000	$7.1M	New
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29)	NOTE 3.625% 4/1 · principal	6,291,000	$7.0M	New
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26)	NOTE 4.250% 8/1 · principal	6,060,000	$6.8M	New
GUARDANT HEALTH INC (GH 1.25 02/15/31)	DEBT 1.250% 2/1 · principal	6,347,000	$6.8M	New
ETSY INC (ETSY 0.125 10/01/26)	NOTE 0.125%10/0 · principal	6,966,000	$6.7M	Reduce -71.8%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27)	NOTE 0.375% 9/0 · principal	6,624,000	$6.5M	Reduce -64.5%
WORLD KINECT GROUP (WKC 3.25 07/01/28)	NOTE 3.250% 7/0 · principal	5,310,000	$6.4M	New
CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28)	NOTE 3.875% 9/1 · principal	5,647,000	$6.3M	Add +0.4%
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	5,074,000	$6.3M	Add +36.2%
NABORS INDUSTRIES INC (NBR 1.75 06/15/29)	NOTE 1.750% 6/1 · principal	8,700,000	$6.0M	Add +1.8%
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)	NOTE 2.875% 3/1 · principal	4,948,000	$5.8M	New
TRANSOCEAN INTERNTNL LTD (RIG 4.625 09/30/29 *)	DEB 4.625% 9/3 · principal	4,525,000	$5.7M	New
MIDDLEBY CORP (MIDD 1 09/01/25)	NOTE 1.000% 9/0 · principal	4,484,000	$5.6M	New
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26)	NOTE 1.000% 4/1 · principal	4,893,000	$5.5M	New
PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30)	NOTE 3.500% 3/0 · principal	4,781,000	$5.2M	New
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)	NOTE 3.250%12/1 · principal	5,500,000	$5.2M	New
SEMTECH CORP (SMTC 1.625 11/01/27)	NOTE 1.625%11/0 · principal	3,920,000	$5.1M	New
ALLIANT ENERGY CORP (LNT 3.875 03/15/26)	NOTE 3.875% 3/1 · principal	4,463,000	$5.0M	New
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	5,747,000	$5.0M	Reduce -67.2%
DATADOG INC (DDOG 0.125 06/15/25)	NOTE 0.125% 6/1 · principal	3,984,000	$4.6M	Reduce -71.0%
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28)	NOTE 1.750% 8/1 · principal	5,057,000	$4.6M	Reduce -10.8%
FIRSTENERGY CORP (FE 4 05/01/26)	NOTE 4.000% 5/0 · principal	4,291,000	$4.4M	Reduce -62.0%
SABRE GLBL INC (SABHLD 7.32 08/01/26)	NOTE 7.320% 8/0 · principal	3,760,000	$4.2M	New
NCL CORPORATION LTD (NCLH 1.125 02/15/27)	NOTE 1.125% 2/1 · principal	4,197,000	$4.1M	Reduce -72.9%
BURLINGTON STORES INC (BURL 1.25 12/15/27)	NOTE 1.250%12/1 · principal	2,805,000	$3.9M	Add +85.8%
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	4,011,000	$3.6M	Add +64.0%
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	2,667,000	$3.5M	Reduce -83.0%
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27)	NOTE 0.250% 3/0 · principal	3,300,000	$3.5M	Reduce -51.6%
RIVIAN AUTO INC (RIVN 4.625 03/15/29)	NOTE 4.625% 3/1 · principal	3,503,000	$3.4M	Add +1212.0%
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	2,513,000	$3.4M	Reduce -47.5%
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	2,429,000	$3.3M	Reduce -54.9%
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	3,420,000	$3.3M	Reduce -92.1%
DEXCOM INC (DXCM 0.375 05/15/28)	NOTE 0.375% 5/1 · principal	3,661,000	$3.3M	Reduce -80.6%
CLOUDFLARE INC (NET 0 08/15/26)	NOTE 8/1 · principal	3,171,000	$3.2M	New
BOX INC (BOX 0 01/15/26)	NOTE 1/1 · principal	2,416,000	$3.1M	New
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27)	NOTE 0.500% 8/0 · principal	2,917,000	$3.0M	Reduce -88.7%
RAPID7 INC (RPD 1.25 03/15/29)	NOTE 1.250% 3/1 · principal	3,142,000	$2.7M	Reduce -91.0%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	2,378,000	$2.5M	Reduce -73.7%
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	2,594,000	$2.4M	Reduce -49.9%
AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29)	NOTE 2.000% 3/1 · principal	2,609,000	$2.3M	Reduce -83.7%
EXPEDIA GROUP INC (EXPE 0 02/15/26)	NOTE 2/1 · principal	2,198,000	$2.2M	New
WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30)	NOTE 3.250% 1/1 · principal	2,321,000	$2.1M	New
SHOPIFY INC (SHOPCN 0.125 11/01/25)	NOTE 0.125%11/0 · principal	2,025,000	$2.0M	New
LCI INDUSTRIES (LCII 1.125 05/15/26)	NOTE 1.125% 5/1 · principal	1,906,000	$1.9M	Reduce -77.1%
UBER TECHNOLOGIES INC (UBER 0 12/15/25)	NOTE 12/1 · principal	1,569,000	$1.7M	Reduce -95.8%
SEA LTD (SEALTD 2.375 12/01/25)	NOTE 2.375%12/0 · principal	1,102,000	$1.6M	New
SHAKE SHACK INC (SHAK 0 03/01/28)	NOTE 3/0 · principal	1,741,000	$1.6M	Add +394.6%
WAYFAIR INC (W 3.25 09/15/27)	NOTE 3.250% 9/1 · principal	1,638,000	$1.6M	Reduce -90.4%
FIVE9 INC (FIVN 1 03/15/29)	NOTE 1.000% 3/1 · principal	1,708,000	$1.5M	New
PATRICK INDUSTRIES INC (PATK 1.75 12/01/28)	NOTE 1.750%12/0 · principal	950,000	$1.3M	Reduce -88.0%
MARRIOTT VACATION WORLDW (VAC 0 01/15/26)	NOTE 1/1 · principal	1,374,000	$1.3M	Reduce -82.6%
H WORLD GROUP LTD (HTHT 3 05/01/26)	NOTE 3.000% 5/0 · principal	1,113,000	$1.3M	New
CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28)	NOTE 2.375%12/1 · principal	761,000	$1.1M	Reduce -39.4%
ZILLOW GROUP INC (Z 2.75 05/15/25)	NOTE 2.750% 5/1 · principal	981,000	$1.0M	New
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	921,000	$924K	New
PENN ENTERTAINMENT INC (PENN 2.75 05/15/26)	NOTE 2.750% 5/1 · principal	399,000	$414K	Reduce -97.0%
VERINT SYSTEMS INC (VRNT 0.25 04/15/26)	NOTE 0.250% 4/1 · principal	169,000	$161K	No change
JAMF HOLDING CORP (JAMF 0.125 09/01/26)	NOTE 0.125% 9/0 · principal	123,000	$116K	Add +1.6%
IMAX CORP (IMAX 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	92,000	$102K	Add +2.2%
ZIFF DAVIS INC (ZD 1.75 11/01/26)	NOTE 1.750%11/0 · principal	103,000	$98K	Add +2.0%
M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	67,000	$85K	Add +1.5%
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26)	NOTE 0.375% 6/1 · principal	64,000	$63K	No change
IONIS PHARMACEUTICALS IN (IONS 0 04/01/26)	NOTE 4/0 · principal	64,000	$63K	Add +1.6%
INSULET CORPORATION (PODD 0.375 09/01/26)	NOTE 0.375% 9/0 · principal	44,000	$56K	Reduce -99.7%
DAYFORCE INC (DAY 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	52,000	$50K	Add +4.0%
SNAP INC (SNAP 0 05/01/27)	NOTE 5/0 · principal	25,000	$22K	Reduce -99.5%

Total filed on the 13F, all lines: $983.7M.

Portfolio Sells Q4 2024 → Q1 2025


TREE Lendingtree Inc.	Reduce -38.5%	9.83%	−10.82
SMC Summit Midstream Corp.	Reduce -53.2%	2.90%	−8.68
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30)	Reduce -0.2%	2.67%	−2.65
NRG ENERGY INC (NRG 2.75 06/01/48)	Reduce -25.7%	1.74%	−1.95
WGHTQ WW International Inc.	Sold out	0.00%	−0.99

Portfolio Buys Q4 2024 → Q1 2025


BKLN Invesco Senior Loan ETF	Add +153.3%	46.79%	+14.87
USHY iShares Broad Usd High Yield	Add +580.6%	15.00%	+9.35
SJNK SS SPDR BB St Hi Yield ETF	Add +566.1%	5.86%	+4.38
OPTU Optimum Communications Inc. Class A	New	4.04%	+4.04
TETRA TECH INC (TTEK 2.25 08/15/28)	Add +22.6%	8.43%	−4.64

Notes & Other Activity Q4 2024 → Q1 2025


ETSY INC (ETSY 0.25 06/15/28)	NOTE 0.250% 6/1 · principal	Add +459.8%	67,181,000	$57.3M
SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25)	NOTE 1.250% 5/0 · principal	Sold out	42,937,000	$44.6Mbefore exit
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	Add +23.4%	37,465,634	$42.5M
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29)	NOTE 1.125% 2/1 · principal	Add +57.2%	26,039,000	$25.3M
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	Add +186.7%	19,584,000	$24.2M
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	Reduce -41.7%	22,294,000	$20.8M
COINBASE GLOBAL INC (COIN 0.5 06/01/26)	NOTE 0.500% 6/0 · principal	New	20,706,000	$20.3M
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	Reduce -43.5%	18,769,000	$17.4M
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	New	17,271,000	$16.7M
SABRE GLBL INC (SABHLD 4 04/15/25)	NOTE 4.000% 4/1 · principal	Add +1.4%	15,994,000	$16.3M
WAYFAIR INC (W 1 08/15/26)	NOTE 1.000% 8/1 · principal	Add +194.7%	15,139,000	$14.2M
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	Reduce -34.6%	13,742,000	$13.9M
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	Reduce -55.8%	13,252,000	$13.7M
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	New	13,015,000	$13.5M
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28)	NOTE 1.750% 6/1 · principal	Reduce -31.2%	13,424,000	$13.5M
LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28)	NOTE 0.500% 6/1 · principal	Add +41.4%	14,457,000	$13.4M
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN)	MTNF 0.600% 5/2 · principal	Reduce -8.8%	12,416,000	$12.7M
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	Reduce -12.7%	10,938,000	$12.5M
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	Reduce -21.3%	9,915,000	$12.4M
EVERGY INC (EVRG 4.5 12/15/27)	NOTE 4.500%12/1 · principal	Add +66.8%	10,093,000	$12.3M
EXACT SCIENCES CORP (EXAS 0.375 03/15/27)	NOTE 0.375% 3/1 · principal	Sold out	11,896,000	$11.4Mbefore exit
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	New	9,652,000	$11.4M
ADVANCED ENERGY IND (AEIS 2.5 09/15/28)	NOTE 2.500% 9/1 · principal	Add +0.4%	10,145,000	$10.7M
ON SEMICONDUCTOR CORP (ON 0 05/01/27)	NOTE 5/0 · principal	Add +38596.0%	9,674,000	$10.6M
GUARDANT HEALTH INC (GH 0 11/15/27)	NOTE 11/1 · principal	Reduce -68.5%	11,886,000	$10.6M
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27)	NOTE 1.000% 9/1 · principal	Reduce -46.3%	8,449,000	$10.0M
WAYFAIR INC (W 3.5 11/15/28)	NOTE 3.500%11/1 · principal	Add +49.5%	8,918,000	$10.0M
SEAGATE HDD CAYMAN (STX 3.5 06/01/28)	NOTE 3.500% 6/0 · principal	Add +7.8%	7,925,000	$9.8M
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	Reduce -39.7%	8,182,000	$9.7M
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27)	NOTE 2.500% 7/1 · principal	New	8,963,000	$9.6M
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28)	NOTE 1.000% 8/1 · principal	Reduce -40.2%	7,151,000	$9.4M
VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30)	NOTE 2.250% 9/1 · principal	New	10,162,000	$9.4M
SPOTIFY USA INC (SPOT 0 03/15/26)	NOTE 3/1 · principal	Add +7.7%	7,596,000	$9.3M
LIVANOVA PLC (LIVN 2.5 03/15/29)	NOTE 2.500% 3/1 · principal	New	9,258,000	$9.2M
LYFT INC (LYFT 0.625 03/01/29)	NOTE 0.625% 3/0 · principal	New	8,908,000	$9.0M
WORKIVA INC (WK 1.25 08/15/28)	NOTE 1.250% 8/1 · principal	Reduce -41.4%	9,255,000	$9.0M
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29)	NOTE 1.500%12/1 · principal	Reduce -23.0%	7,310,000	$8.9M
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28)	NOTE 3.750% 3/1 · principal	Reduce -37.0%	8,096,000	$8.7M
IRHYTHM HOLDINGS INC (IRTC 1.5 09/01/29)	NOTE 1.500% 9/0 · principal	New	8,081,000	$8.7M
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27)	NOTE 2.250% 8/1 · principal	Add +12.4%	6,975,000	$8.7M
VENTAS REALTY LP (VTR 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	Reduce -36.7%	6,614,000	$8.7M
TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024)	NOTE 1.500% 3/1 · principal	New	8,879,000	$8.7M
FORD MOTOR COMPANY (F 0 03/15/26)	NOTE 3/1 · principal	Add +17.6%	8,656,000	$8.5M
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	New	7,457,000	$8.4M
BLOOM ENERGY CORP (BE 3 06/01/28)	NOTE 3.000% 6/0 · principal	Sold out	5,834,000	$8.4Mbefore exit
POST HOLDINGS INC (POST 2.5 08/15/27)	NOTE 2.500% 8/1 · principal	Reduce -16.5%	6,878,000	$8.4M
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	Add +1637.5%	6,950,000	$8.3M
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	Add +94.8%	8,179,000	$8.3M
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	Add +21.6%	7,519,000	$8.1M
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28)	NOTE 2.125% 2/1 · principal	Sold out	4,869,000	$8.1Mbefore exit

Showing the first 50 of 125.

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	11	$173.3M	BKLN, USHY, SJNK, WBD, TETRA TECH INC (TTEK 2.25 08/15/28)
Q1 2026	5	$159.6M	USHY, SJNK, BKLN, ONIT, TLT
Q4 2025	7	$166.9M	BKLN, USHY, SJNK, TETRA TECH INC (TTEK 2.25 08/15/28), CCO
Q3 2025	8	$82.1M	BKLN, USHY, TETRA TECH INC (TTEK 2.25 08/15/28), SJNK, CCO
Q2 2025	9	$142.9M	BKLN, SJNK, USHY, TETRA TECH INC (TTEK 2.25 08/15/28), TREE
Q1 2025	10	$120.1M	BKLN, USHY, TREE, TETRA TECH INC (TTEK 2.25 08/15/28), SJNK
Q4 2024	10	$71.7M	BKLN, TREE, TETRA TECH INC (TTEK 2.25 08/15/28), SMC, USHY
Q3 2024	11	$175.3M	USHY, BKLN, TREE, SMC, TETRA TECH INC (TTEK 2.25 08/15/28)
Q2 2024	11	$95.7M	TREE, DO, SMLP, NRG ENERGY INC (NRG 2.75 06/01/48), BKLN
Q1 2024	10	$139.4M	SJNK, DO, TREE, SMLP, NRG ENERGY INC (NRG 2.75 06/01/48)