Silverback Asset Management LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 21, 2026), Silverback Asset Management LLC reported 14 stock positions worth $26.8 million. Its top holding was Vroom (VRM) at 21.8% of the portfolio, followed by Harmonic (HLIT, 21.8%) and Core Scientific (CORZ, 9.0%). Compared with Q4 2025, it opened 1 new position, sold out of 2, added to 4 and reduced 2. The biggest buy was a new position in Eyepoint (EYPT) and the biggest sale an exit from Array Technologies (ARRY).
- Most Recent 13F
- Q2 2026
- Location
- DURHAM, NC
- CIK
- 0001278960
- Portfolio Value
- $26.8M (Q1 2026)
- SEC Filing
- 0001398344-26-009537 ↗ filed May 21, 2026
Holdings Value
Holdings 14 stocks · $26.8M
| VRM Vroom Inc. | 21.78% | 437,936 | $5.8M | Add +2.9% |
| HLIT Harmonic Inc. | 21.76% | 648,566 | $5.8M | Reduce -0.2% |
| CORZ Core Scientific Inc. | 8.99% | 160,900 | $2.4M | No change |
| AVAV Aerovironment Inc. | 8.28% | 12,100 | $2.2M | No change |
| ASTS Ast Spacemobile Inc. | 7.49% | 24,200 | $2.0M | No change |
| TEM Tempus AI Inc. Class A | 6.03% | 35,700 | $1.6M | Add +44.5% |
| WULF Terawulf Inc. | 5.21% | 96,600 | $1.4M | No change |
| LPSN Liveperson Inc. | 4.62% | 485,001 | $1.2M | No change |
| NEO Neogenomics Inc. | 4.58% | 165,101 | $1.2M | No change |
| STNG Scorpio Tankers Inc. | 2.79% | 10,000 | $747K | Reduce -66.7% |
| EYPT Eyepoint Inc. | 2.41% | 50,000 | $645K | New |
| ARAY Accuray Inc. | 2.39% | 1,650,000 | $640K | Add +7.7% |
| MX Magnachip Semiconductor Corp. | 2.30% | 220,000 | $616K | No change |
| KPTI Karyopharm Therapeutics Inc. | 1.35% | 65,000 | $362K | Add +62.5% |
Options reported separately and not counted above: SPY puts ($97.6M), IWM puts ($38.4M), IWM calls ($24.8M), DFTX calls ($5.6M), KIE calls ($5.5M), KIE puts ($5.5M), LCID puts ($4.5M), VIAV calls ($3.3M), BKLN puts ($2.3M), PAR calls ($2.0M), EYPT calls ($1.3M), KPTI calls ($557K), and 2 more.
Other holdings (31): bonds, preferreds, convertibles and warrants · $458.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| INDIE SEMICONDUCTOR INC | NOTE 3.500% 12/1 · principal | 36,515,000 | $34.9M | New |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 22,571,000 | $29.1M | Reduce -4.2% |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | 28,833,000 | $27.8M | Reduce -3.4% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 23,000,000 | $27.8M | Add +21.1% |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | 12,608,000 | $26.7M | Add +63.7% |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 22,032,000 | $24.8M | Reduce -18.3% |
| IAC FinanceCo 2, Inc. | Note 0.875% 06/15 · principal | 24,603,000 | $24.4M | Reduce -22.1% |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 22,000,000 | $22.5M | Add +76.0% |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | 20,423,000 | $21.1M | New |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | 18,500,000 | $19.6M | Add +5.7% |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | 20,455,000 | $17.9M | Reduce -10.9% |
| PORCH GROUP INC | NOTE/6 750% 10/1 · principal | 17,213,000 | $17.3M | Add +30.3% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 17,800,000 | $16.9M | New |
| ALPHATEC HOLDINGS INC (ATEC 0.75 03/15/30) | NOTE 0.750% 3/1 · principal | 14,250,000 | $14.6M | New |
| Alnylam Pharmaceuticals Inc | Note 0 09/15 · principal | 15,161,000 | $14.1M | Add +21.3% |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 14,283,000 | $13.6M | New |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 15,000,000 | $13.1M | New |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 12,500,000 | $12.5M | New |
| WOLFSPEED INC (WOLF 2.5 06/15/31) | NOTE 2.500% 6/1 · principal | 8,531,000 | $12.2M | Add +0.8% |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | 10,300,000 | $12.0M | Reduce -43.7% |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 11,134,000 | $11.6M | Add +13.4% |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | 9,600,000 | $9.4M | Reduce -12.7% |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | 16,649,000 | $8.5M | Add +104.3% |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | 10,000,000 | $5.3M | Reduce -35.5% |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | 5,080,000 | $4.6M | Reduce -44.0% |
| INOTIV INC (NOTV 3.25 10/15/27) | NOTE 3.250%10/1 · principal | 17,092,000 | $4.1M | No change |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | 3,985,000 | $4.0M | Reduce -73.7% |
| QIMONDA FIN LLC | NOTE 6.750% 3/2 · principal | 12,400,000 | $3.2M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 2,500,000 | $2.9M | Reduce -79.2% |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | 1,368,000 | $1.8M | Reduce -80.8% |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D · principal | 490,000 | $221K | New |
Total filed on the 13F, all lines: $485.2M.
Portfolio Sells Q4 2025 → Q1 2026
Portfolio Buys Q4 2025 → Q1 2026
Options Activity Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 150,000 | $97.6M |
| IWM iShares Russell 2000 ETF | put | New | 155,000 | $38.4M |
| IWM iShares Russell 2000 ETF | call | New | 100,000 | $24.8M |
| DFTX Definium Therapeutics Inc. | call | New | 294,400 | $5.6M |
| KIE SS SPDR S&P Insurance ETF | call | New | 100,000 | $5.5M |
| KIE SS SPDR S&P Insurance ETF | put | New | 100,000 | $5.5M |
| LCID Lucid Group Inc. | put | Reduce -57.1% | 470,000 | $4.5M |
| VIAV Viavi Solutions Inc. | call | New | 100,000 | $3.3M |
| BKLN Invesco Senior Loan ETF | put | New | 112,100 | $2.3M |
| PAR Par Technology Corp. | call | New | 150,000 | $2.0M |
| EYPT Eyepoint Inc. | call | New | 100,000 | $1.3M |
| KPTI Karyopharm Therapeutics Inc. | call | New | 100,000 | $557K |
| INDI Indie Semiconductor Inc. Class A | put | Reduce -88.9% | 100,000 | $322K |
| GOSS Gossamer Bio Inc. | call | New | 500,000 | $164K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Sold out | 15,438,000 | $51.9Mbefore exit |
| INDIE SEMICONDUCTOR INC | NOTE 3.500% 12/1 · principal | New | 36,515,000 | $34.9M |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | Sold out | 32,977,000 | $32.9Mbefore exit |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | Reduce -4.2% | 22,571,000 | $29.1M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 28,206,000 | $28.6Mbefore exit |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Sold out | 27,300,000 | $28.0Mbefore exit |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Reduce -3.4% | 28,833,000 | $27.8M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | Add +21.1% | 23,000,000 | $27.8M |
| SEMTECH CORP (SMTC 1.625 11/01/27) | NOTE 1.625%11/0 · principal | Add +63.7% | 12,608,000 | $26.7M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Reduce -18.3% | 22,032,000 | $24.8M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Sold out | 20,096,000 | $24.5Mbefore exit |
| IAC FinanceCo 2, Inc. | Note 0.875% 06/15 · principal | Reduce -22.1% | 24,603,000 | $24.4M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Add +76.0% | 22,000,000 | $22.5M |
| SYNAPTICS INC (SYNA 0.75 12/01/31) | NOTE 0.750%12/0 · principal | New | 20,423,000 | $21.1M |
| PORCH GROUP INC (PRCH 9 05/15/30) | DEBT 9.000% 5/1 · principal | Add +5.7% | 18,500,000 | $19.6M |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | Reduce -10.9% | 20,455,000 | $17.9M |
| EZPW 3.750 12/15/29 CVT | Note 3.750% 12/15 · principal | Sold out | 9,500,000 | $17.7Mbefore exit |
| PORCH GROUP INC | NOTE/6 750% 10/1 · principal | Add +30.3% | 17,213,000 | $17.3M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | New | 17,800,000 | $16.9M |
| ALPHATEC HOLDINGS INC (ATEC 0.75 03/15/30) | NOTE 0.750% 3/1 · principal | New | 14,250,000 | $14.6M |
| Alnylam Pharmaceuticals Inc | Note 0 09/15 · principal | Add +21.3% | 15,161,000 | $14.1M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Sold out | 13,500,000 | $13.9Mbefore exit |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | New | 14,283,000 | $13.6M |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | New | 15,000,000 | $13.1M |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | New | 12,500,000 | $12.5M |
| PACIRA BIOSCIENCES INC (PCRX 2.125 05/15/29) | NOTE 2.125% 5/1 · principal | Sold out | 12,275,000 | $12.4Mbefore exit |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Sold out | 7,500,000 | $12.3Mbefore exit |
| WOLFSPEED INC (WOLF 2.5 06/15/31) | NOTE 2.500% 6/1 · principal | Add +0.8% | 8,531,000 | $12.2M |
| COLLEGIUM PHARMA INC (COLL 2.875 02/15/29) | NOTE 2.875% 2/1 · principal | Reduce -43.7% | 10,300,000 | $12.0M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | Add +13.4% | 11,134,000 | $11.6M |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | Sold out | 11,530,000 | $10.4Mbefore exit |
| OMNICELL INC (OMCL 1 12/01/29) | NOTE 1.000%12/0 · principal | Reduce -12.7% | 9,600,000 | $9.4M |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | Sold out | 10,500,000 | $9.2Mbefore exit |
| EVOLENT HEALTH INC | DEBT 4.500% 8/1 · principal | Add +104.3% | 16,649,000 | $8.5M |
| 8X8 INC (EGHT 4 02/01/28) | NOTE 4.000% 2/0 · principal | Sold out | 6,970,000 | $6.2Mbefore exit |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Sold out | 1,685,497 | $5.7Mbefore exit |
| EVOLENT HEALTH INC (EVH 3.5 12/01/29) | NOTE 3.500%12/0 · principal | Reduce -35.5% | 10,000,000 | $5.3M |
| AMPHASTAR PHARMACEUTICAL (AMPH 2 03/15/29) | NOTE 2.000% 3/1 · principal | Reduce -44.0% | 5,080,000 | $4.6M |
| PENGUIN SOLUTIONS CAYMEN (PENG 2 08/15/30) | NOTE 2.000% 8/1 · principal | Reduce -73.7% | 3,985,000 | $4.0M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Sold out | 3,444,000 | $3.9Mbefore exit |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | Sold out | 3,400,000 | $3.1Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -79.2% | 2,500,000 | $2.9M |
| PELOTON INTERACTIVE INC (PTON 5.5 12/01/29) | NOTE 5.500%12/0 · principal | Reduce -80.8% | 1,368,000 | $1.8M |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D · principal | New | 490,000 | $221K |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A · principal | Sold out | 70,000 | $29Kbefore 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 | 13 | $26.8M | HLIT, VRM, CORZ, WULF, ASTS |
| Q1 2026Amended | 14 | $26.8M | VRM, HLIT, CORZ, AVAV, ASTS |
| Q4 2025 | 15 | $36.2M | VRM, HLIT, AVAV, ARRY, CORZ |
| Q3 2025 | 10 | $35.2M | VRM, WOLF, HLIT, ARAY, STNG |
| Q2 2025 | 10 | $25.0M | VRM, HLIT, ARAY, STNG, AVDL |
| Q1 2025 | 1 | $12.5M | VRM |
| Q4 2024Amended | 5 | $13.7M | HLIT, RDNW, MX, VERI, ARAY |
| Q3 2024 | 12 | $22.2M | HLIT, NE, RDNW, REAL, VAL |
| Q2 2024 | 16 | $78.4M | SPY, HLIT, NE, RDNW, REAL |
| Q1 2024 | 14 | $30.8M | HLIT, RDNW, NE, REAL, AKTSQ |