Shenkman Capital Management Inc.

Name: SHENKMAN CAPITAL MANAGEMENT INC 13F holdings, Q4 2025
Creator: SHENKMAN CAPITAL MANAGEMENT INC
Published: 2026-02-10

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

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Shenkman Capital Management Inc. reported 7 stock positions worth $166.9 million. Its top holding was Invesco Senior Loan ETF (BKLN) at 37.5% of the portfolio, followed by iShares Broad Usd High Yield (USHY, 28.8%) and SS SPDR BB St Hi Yield ETF (SJNK, 22.5%). Compared with Q3 2025, it sold out of 1, added to 3 and reduced 3. The biggest buy was iShares Broad Usd High Yield (USHY, shares +299%) and the biggest sale Tetra Tech Inc. (ttek 2.25 08/15/28) (shares −5%).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001275228
Portfolio Value: $166.9M (Q4 2025)
SEC Filing: 0001275228-26-000002 ↗ filed Feb 10, 2026

Holdings Value

Holdings 7 stocks · $166.9M


BKLN Invesco Senior Loan ETF	37.51%	2,889,660	$62.6M	Add +51.5%
USHY iShares Broad Usd High Yield	28.82%	1,280,225	$48.1M	Add +298.9%
SJNK SS SPDR BB St Hi Yield ETF	22.49%	1,443,140	$37.5M	Add +381.0%
TETRA TECH INC (TTEK 2.25 08/15/28)	5.84%	8,656,000	$9.7M	Reduce -5.0%
CCO Clear Channel Outdoor Holdin	3.91%	2,954,589	$6.5M	No change
OPTU Optimum Communications Inc. Class A	0.86%	863,189	$1.4M	Reduce -52.1%
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30)	0.57%	11,248,000	$947K	Reduce -7.3%

Other holdings (90): bonds, preferreds, convertibles and warrants · $780.9M (not counted above)

Security	Class	Shares / Principal	Value	Change
ETSY INC (ETSY 0.25 06/15/28)	NOTE 0.250% 6/1 · principal	56,775,000	$50.9M	Reduce -14.3%
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	28,005,000	$30.7M	Add +176.7%
UNITI GROUP INC (UNIT 7.5 12/01/27)	NOTE 7.500%12/0 · principal	23,315,000	$26.8M	Reduce -38.3%
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	24,688,000	$25.9M	Reduce -18.2%
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	21,517,000	$22.0M	Add +50.0%
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29)	NOTE 3.500% 3/0 · principal	23,793,000	$21.9M	Add +65.5%
DATADOG INC (DDOG 0 12/01/29)	NOTE 12/0 · principal	19,012,000	$19.4M	New
BLACKLINE INC (BL 1 06/01/29)	NOTE 1.000% 6/0 · principal	16,966,000	$18.2M	Add +22.5%
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	19,524,000	$17.9M	Reduce -20.8%
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31)	NOTE 0.500% 6/0 · principal	11,126,000	$17.2M	Add +633.4%
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	16,920,000	$16.3M	Add +27.5%
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	16,732,000	$16.2M	Reduce -12.1%
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29)	NOTE 1.125% 2/1 · principal	15,560,000	$15.7M	Add +299.1%
STRATEGY INC (MSTR 0 12/01/29)	NOTE 12/0 · principal	19,000,000	$15.6M	New
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	15,671,000	$15.5M	Add +104.8%
FIRSTENERGY CORP (FE 4 05/01/26)	NOTE 4.000% 5/0 · principal	14,623,000	$15.1M	Reduce -8.5%
JD.COM INC (JD 0.25 06/01/29)	NOTE 0.250% 6/0 · principal	14,749,000	$14.7M	Add +23.0%
VARONIS SYSTEM INC (VRNS 1 09/15/29)	NOTE 1.000% 9/1 · principal	15,600,000	$14.7M	Reduce -14.2%
MKS INC (MKSI 1.25 06/01/30)	NOTE 1.250% 6/0 · principal	10,983,000	$14.2M	Reduce -1.1%
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN)	MTNF 0.600% 5/2 · principal	12,896,000	$14.1M	Reduce -8.2%
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	11,597,000	$12.5M	Reduce -45.5%
BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29)	NOTE 2.250% 2/0 · principal	10,707,000	$12.4M	Add +58.9%
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	12,112,000	$12.2M	Add +13.0%
REDFIN CORP (RDFN 0.5 04/01/27)	NOTE 0.500% 4/0 · principal	12,041,000	$11.3M	No change
SABRE GLBL INC (SABHLD 7.32 08/01/26)	NOTE 7.320% 8/0 · principal	10,775,000	$11.3M	Reduce -0.2%
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	10,114,000	$11.3M	Add +6.8%
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	9,519,000	$10.8M	Add +78.2%
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	9,062,000	$10.7M	Reduce -2.4%
NUTANIX INC (NTNX 0.5 12/15/29)	NOTE 0.500%12/1 · principal	10,749,000	$10.6M	New
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	10,129,000	$10.5M	Add +4.3%
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	8,198,000	$10.4M	Reduce -26.2%
GREENBRIER COS INC (GBX 2.875 04/15/28)	NOTE 2.875% 4/1 · principal	9,047,000	$10.0M	Reduce -1.2%
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28)	NOTE 3.750% 3/1 · principal	9,408,000	$9.8M	Add +6.1%
TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29)	NOTE 2.250% 3/0 · principal	6,662,000	$9.8M	Add +6.8%
LIVANOVA PLC (LIVN 2.5 03/15/29)	NOTE 2.500% 3/1 · principal	7,969,000	$9.5M	Add +4.7%
ITRON INC (ITRI 1.375 07/15/30)	NOTE 1.375% 7/1 · principal	8,622,000	$8.9M	Reduce -5.5%
WORLD KINECT GROUP (WKC 3.25 07/01/28)	NOTE 3.250% 7/0 · principal	8,059,000	$8.8M	Add +6.2%
TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024)	NOTE 1.500% 3/1 · principal	7,947,000	$8.3M	Add +6.7%
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31)	NOTE 0.250%10/0 · principal	7,500,000	$8.3M	New
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)	NOTE 3.250%12/1 · principal	8,529,000	$8.1M	Reduce -7.2%
BOX INC (BOX 1.5 09/15/29)	NOTE 1.500% 9/1 · principal	8,091,000	$7.9M	Reduce -41.7%
EVERGY INC (EVRG 4.5 12/15/27)	NOTE 4.500%12/1 · principal	6,339,000	$7.9M	Reduce -23.8%
VERTEX INC (VERX 0.75 05/01/29)	NOTE 0.750% 5/0 · principal	7,973,000	$7.7M	Reduce -10.8%
ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29)	NOTE 4.250%11/1 · principal	4,954,000	$7.7M	New
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27)	NOTE 2.500% 7/1 · principal	5,481,000	$7.6M	Reduce -28.3%
WORKIVA INC (WK 1.25 08/15/28)	NOTE 1.250% 8/1 · principal	7,357,000	$7.5M	Add +5.8%
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29)	NOTE 3.625% 4/1 · principal	7,339,000	$7.3M	Add +6.4%
VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30)	NOTE 2.250% 9/1 · principal	7,437,000	$6.9M	Add +6.3%
GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29)	NOTE 1.250%11/0 · principal	5,758,000	$6.5M	New
SYNAPTICS INC (SYNA 0.75 12/01/31)	NOTE 0.750%12/0 · principal	5,922,000	$6.4M	New
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27)	NOTE 2.250% 8/1 · principal	4,853,000	$6.3M	Add +3.9%
LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30)	NOTE 2.875% 1/1 · principal	5,561,000	$6.2M	New
FLUENCE ENERGY INC (FLNC 2.25 06/15/30)	NOTE 2.250% 6/1 · principal	5,000,000	$6.1M	New
POST HOLDINGS INC (POST 2.5 08/15/27)	NOTE 2.500% 8/1 · principal	5,415,000	$6.0M	Reduce -46.9%
ADVANCED ENERGY IND (AEIS 2.5 09/15/28)	NOTE 2.500% 9/1 · principal	3,536,000	$5.9M	Reduce -14.8%
SOUTHERN CO (SO 4.5 06/15/27)	NOTE 4.500% 6/1 · principal	5,093,000	$5.5M	Reduce -76.5%
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	4,418,000	$4.9M	Reduce -33.6%
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	4,840,000	$4.8M	Reduce -64.8%
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)	NOTE 2.875% 3/1 · principal	3,599,000	$4.0M	Reduce -24.0%
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30)	NOTE 0.750% 6/0 · principal	3,975,000	$3.8M	Reduce -73.6%
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028)	NOTE 0.875%12/0 · principal	2,746,000	$3.6M	Reduce -54.9%
WEC ENERGY GROUP INC (WEC 4.375 06/01/27)	NOTE 4.375% 6/0 · principal	3,024,000	$3.4M	Reduce -23.9%
COINBASE GLOBAL INC (COIN 0.5 06/01/26)	NOTE 0.500% 6/0 · principal	3,250,000	$3.3M	Add +85.7%
MARA HOLDINGS INC (MARA 0 06/01/31)	NOTE 6/0 · principal	3,807,000	$3.2M	New
WEC ENERGY GROUP INC (WEC 4.375 06/01/29)	NOTE 4.375% 6/0 · principal	2,336,000	$2.7M	Reduce -34.6%
VENTAS REALTY LP (VTR 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	1,932,000	$2.7M	Reduce -65.8%
JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30)	NOTE 3.125% 9/1 · principal	1,782,000	$2.4M	Reduce -83.2%
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28)	NOTE 1.750% 8/1 · principal	2,426,000	$2.4M	Add +21.5%
COINBASE GLOBAL INC (COIN 0.25 04/01/30)	NOTE 0.250% 4/0 · principal	2,276,000	$2.3M	Add +24.6%
LYFT INC (LYFT 0.625 03/01/29)	NOTE 0.625% 3/0 · principal	1,801,000	$2.2M	Add +5.6%
ALLIANT ENERGY CORP (LNT 3.875 03/15/26)	NOTE 3.875% 3/1 · principal	2,025,000	$2.1M	Reduce -24.2%
T1 ENERGY INC (TE 5.25 12/01/30)	NOTE 5.250%12/0 · principal	1,500,000	$2.0M	New
FORD MOTOR COMPANY (F 0 03/15/26)	NOTE 3/1 · principal	1,835,000	$1.9M	Reduce -81.4%
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	1,783,000	$1.8M	Add +432.2%
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29)	NOTE 0.750% 6/1 · principal	1,233,000	$1.5M	Reduce -72.9%
HAEMONETICS CORP (HAE 2.5 06/01/29)	NOTE 2.500% 6/0 · principal	1,323,000	$1.4M	Reduce -89.1%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26)	NOTE 4.250% 8/1 · principal	1,013,000	$1.1M	Add +97.5%
MARA HOLDINGS INC (MARA 0 03/01/30)	NOTE 3/0 · principal	1,088,000	$858K	New
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26)	NOTE 2.000% 6/1 · principal	639,000	$742K	Reduce -31.9%
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	439,000	$626K	Reduce -86.0%
H WORLD GROUP LTD (HTHT 3 05/01/26)	NOTE 3.000% 5/0 · principal	404,000	$517K	No change
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	525,000	$496K	New
CYTOKINETICS INC (CYTK 3.5 07/01/27)	NOTE 3.500% 7/0 · principal	339,000	$489K	No change
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27)	NOTE 2.625%12/1 · principal	377,000	$433K	Reduce -87.5%
AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29)	NOTE 0.750%12/1 · principal	327,000	$363K	New
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26)	NOTE 1.000% 4/1 · principal	325,000	$325K	No change
NABORS INDUSTRIES INC (NBR 1.75 06/15/29)	NOTE 1.750% 6/1 · principal	300,000	$245K	Reduce -97.7%
JETBLUE AIRWAYS CORP (JBLU 2.5 09/01/29)	NOTE 2.500% 9/0 · principal	188,000	$184K	No change
MARRIOTT VACATION WORLDW (VAC 0 01/15/26)	NOTE 1/1 · principal	78,000	$78K	Reduce -41.8%
GME.WS Gamestop Corp.	*W EXP 10/30/202	19,614	$60K	New

Total filed on the 13F, all lines: $947.8M.

Portfolio Sells Q3 2025 → Q4 2025


TETRA TECH INC (TTEK 2.25 08/15/28)	Reduce -5.0%	5.84%	−6.58
OPTU Optimum Communications Inc. Class A	Reduce -52.1%	0.86%	−4.46
SMC Summit Midstream Corp.	Sold out	0.00%	−2.42
LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30)	Reduce -7.3%	0.57%	−0.87

Portfolio Buys Q3 2025 → Q4 2025


USHY iShares Broad Usd High Yield	Add +298.9%	28.82%	+14.06
SJNK SS SPDR BB St Hi Yield ETF	Add +381.0%	22.49%	+13.14
BKLN Invesco Senior Loan ETF	Add +51.5%	37.51%	−11.10

Notes & Other Activity Q3 2025 → Q4 2025


ETSY INC (ETSY 0.25 06/15/28)	NOTE 0.250% 6/1 · principal	Reduce -14.3%	56,775,000	$50.9M
PARSONS CORP (PSN 2.625 03/01/29)	NOTE 2.625% 3/0 · principal	Add +176.7%	28,005,000	$30.7M
UNITI GROUP INC (UNIT 7.5 12/01/27)	NOTE 7.500%12/0 · principal	Reduce -38.3%	23,315,000	$26.8M
DUKE ENERGY CORP (DUK 4.125 04/15/26)	NOTE 4.125% 4/1 · principal	Reduce -18.2%	24,688,000	$25.9M
SNAP INC (SNAP 0.5 05/01/30)	NOTE 0.500% 5/0 · principal	Sold out	28,421,000	$24.6Mbefore exit
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	Add +50.0%	21,517,000	$22.0M
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29)	NOTE 3.500% 3/0 · principal	Add +65.5%	23,793,000	$21.9M
DATADOG INC (DDOG 0 12/01/29)	NOTE 12/0 · principal	New	19,012,000	$19.4M
BLACKLINE INC (BL 1 06/01/29)	NOTE 1.000% 6/0 · principal	Add +22.5%	16,966,000	$18.2M
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31)	NOTE 1.500% 3/0 · principal	Reduce -20.8%	19,524,000	$17.9M
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31)	NOTE 0.500% 6/0 · principal	Add +633.4%	11,126,000	$17.2M
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29)	NOTE 0.500% 3/0 · principal	Add +27.5%	16,920,000	$16.3M
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	Reduce -12.1%	16,732,000	$16.2M
AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29)	NOTE 1.125% 2/1 · principal	Add +299.1%	15,560,000	$15.7M
STRATEGY INC (MSTR 0 12/01/29)	NOTE 12/0 · principal	New	19,000,000	$15.6M
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	Add +104.8%	15,671,000	$15.5M
GUARDANT HEALTH INC (GH 1.25 02/15/31)	DEBT 1.250% 2/1 · principal	Sold out	11,530,000	$15.1Mbefore exit
FIRSTENERGY CORP (FE 4 05/01/26)	NOTE 4.000% 5/0 · principal	Reduce -8.5%	14,623,000	$15.1M
JD.COM INC (JD 0.25 06/01/29)	NOTE 0.250% 6/0 · principal	Add +23.0%	14,749,000	$14.7M
VARONIS SYSTEM INC (VRNS 1 09/15/29)	NOTE 1.000% 9/1 · principal	Reduce -14.2%	15,600,000	$14.7M
MKS INC (MKSI 1.25 06/01/30)	NOTE 1.250% 6/0 · principal	Reduce -1.1%	10,983,000	$14.2M
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN)	MTNF 0.600% 5/2 · principal	Reduce -8.2%	12,896,000	$14.1M
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	Sold out	5,268,888	$13.2Mbefore exit
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	Reduce -45.5%	11,597,000	$12.5M
BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29)	NOTE 2.250% 2/0 · principal	Add +58.9%	10,707,000	$12.4M
CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28)	NOTE 3.875% 9/1 · principal	Sold out	10,951,000	$12.4Mbefore exit
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	Add +13.0%	12,112,000	$12.2M
SABRE GLBL INC (SABHLD 7.32 08/01/26)	NOTE 7.320% 8/0 · principal	Reduce -0.2%	10,775,000	$11.3M
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	Add +6.8%	10,114,000	$11.3M
RIVIAN AUTO INC (RIVN 3.625 10/15/30)	NOTE 3.625%10/1 · principal	Add +78.2%	9,519,000	$10.8M
FLUOR CORP (FLR 1.125 08/15/29)	NOTE 1.125% 8/1 · principal	Reduce -2.4%	9,062,000	$10.7M
NUTANIX INC (NTNX 0.5 12/15/29)	NOTE 0.500%12/1 · principal	New	10,749,000	$10.6M
TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	Add +4.3%	10,129,000	$10.5M
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27)	NOTE 0.500% 8/0 · principal	Sold out	10,444,000	$10.5Mbefore exit
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27)	NOTE 3.000% 3/0 · principal	Reduce -26.2%	8,198,000	$10.4M
GREENBRIER COS INC (GBX 2.875 04/15/28)	NOTE 2.875% 4/1 · principal	Reduce -1.2%	9,047,000	$10.0M
SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28)	NOTE 3.750% 3/1 · principal	Add +6.1%	9,408,000	$9.8M
TRAVERE THERAPEUTICS INC (TVTX 2.25 03/01/29)	NOTE 2.250% 3/0 · principal	Add +6.8%	6,662,000	$9.8M
LIVANOVA PLC (LIVN 2.5 03/15/29)	NOTE 2.500% 3/1 · principal	Add +4.7%	7,969,000	$9.5M
ITRON INC (ITRI 1.375 07/15/30)	NOTE 1.375% 7/1 · principal	Reduce -5.5%	8,622,000	$8.9M
WORLD KINECT GROUP (WKC 3.25 07/01/28)	NOTE 3.250% 7/0 · principal	Add +6.2%	8,059,000	$8.8M
PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30)	NOTE 3.500% 3/0 · principal	Sold out	8,321,000	$8.6Mbefore exit
TANDEM DIABETES CARE INC (TNDM 1.5 03/15/29 2024)	NOTE 1.500% 3/1 · principal	Add +6.7%	7,947,000	$8.3M
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31)	NOTE 0.250%10/0 · principal	New	7,500,000	$8.3M
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27)	NOTE 3.250%12/1 · principal	Reduce -7.2%	8,529,000	$8.1M
BOX INC (BOX 1.5 09/15/29)	NOTE 1.500% 9/1 · principal	Reduce -41.7%	8,091,000	$7.9M
EVERGY INC (EVRG 4.5 12/15/27)	NOTE 4.500%12/1 · principal	Reduce -23.8%	6,339,000	$7.9M
VERTEX INC (VERX 0.75 05/01/29)	NOTE 0.750% 5/0 · principal	Reduce -10.8%	7,973,000	$7.7M
ALIGNMENT HEALTHCARE (ALHC 4.25 11/15/29)	NOTE 4.250%11/1 · principal	New	4,954,000	$7.7M
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27)	NOTE 2.500% 7/1 · principal	Reduce -28.3%	5,481,000	$7.6M

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)