Sona Asset Management (us) LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 21, 2024), Sona Asset Management (us) LLC reported 19 stock positions worth $91.6 million. Its top holding was Greenfire Resources (GFR) at 32.7% of the portfolio, followed by Ihs (IHS, 11.5%) and Dauch (DCH, 7.8%). Compared with Q4 2023, it opened 11 new positions, added to 2 and reduced 2. The biggest buy was a new position in Dauch (DCH) and the biggest sale Vertex Energy (VTNRQ, shares −84%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001856405
- Portfolio Value
- $91.6M (Q1 2024)
- SEC Filing
- 0001856405-24-000004 ↗ filed May 21, 2024
Holdings Value
Holdings 19 stocks · $91.6M
| GFR Greenfire Resources Ltd. | 32.75% | 5,019,641 | $30.0M | Add +1.1% |
| IHS Ihs Holding Ltd. | 11.46% | 2,973,280 | $10.5M | Add +479.0% |
| DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN | 7.75% | 965,000 | $7.1M | New |
| GPN Global Payments Inc. | 7.73% | 53,000 | $7.1M | New |
| CZR Caesars Entertainment Inc. | 5.73% | 120,000 | $5.2M | New |
| LTH Life Time Group Holdings Inc. | 5.51% | 325,000 | $5.0M | New |
| AMBP Ardagh Metal Packaging SA | 4.68% | 1,250,000 | $4.3M | New |
| CCL Carnival Corp. | 4.01% | 225,000 | $3.7M | New |
| BUR Burford Capital Ltd. | 3.49% | 200,000 | $3.2M | New |
| COIN Coinbase Global Inc. Class A | 2.95% | 10,200 | $2.7M | New |
| FWRD Forward Air Corp. | 2.38% | 70,000 | $2.2M | New |
| FLR Fluor Corp. | 2.37% | 51,300 | $2.2M | Reduce -42.9% |
| THC Tenet Healthcare Corp. | 2.30% | 20,000 | $2.1M | No change |
| DAN Dana Inc. | 2.22% | 160,000 | $2.0M | New |
| PENN Penn Entertainment Inc. | 1.99% | 100,000 | $1.8M | New |
| NVO Novo-Nordisk A/S-Spons ADR | 1.40% | 10,000 | $1.3M | No change |
| THCH TH International Ltd./Cayman | 0.63% | 500,000 | $575K | No change |
| VTNRQ Vertex Energy Inc. | 0.34% | 219,516 | $307K | Reduce -84.3% |
| BMRN Biomarin Pharmaceutical Inc. | 0.31% | 3,300 | $288K | No change |
Options reported separately and not counted above: HYG puts ($999.0M), IEF calls ($288.7M), LQD puts ($250.5M), EMB puts ($130.0M), SPY puts ($98.1M), TLT calls ($53.4M), ABR puts ($8.3M), FXI calls ($6.7M), MPT calls ($1.4M).
Other holdings (42): bonds, preferreds, convertibles and warrants · $1.1B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) | NOTE 6.000% 8/1 · principal | 30,000,000 | $85.0M | No change |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 1,200,000 | $70.8M | New |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 60,500,000 | $60.8M | Add +72.9% |
| ZILLOW GROUP INC (Z 0.75 09/01/24) | NOTE 0.750% 9/0 · principal | 50,000,000 | $59.1M | New |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 58,000,000 | $56.4M | Add +45.0% |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 57,932,000 | $53.9M | Add +329.1% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 57,500,000 | $53.8M | Add +258.8% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 51,000,000 | $51.6M | Add +209.1% |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | 53,027,000 | $49.1M | Add +63.2% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 675,000 | $43.0M | New |
| UNITED STATES STEEL CORP (X 5 11/01/26) | NOTE 5.000%11/0 · principal | 13,000,000 | $40.0M | No change |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | 38,635,000 | $37.5M | Reduce -3.4% |
| JAZZ INVESTMENTS I LTD (JAZZ 1.5 08/15/24) | NOTE 1.500% 8/1 · principal | 35,000,000 | $34.5M | No change |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 37,000,000 | $31.7M | Add +48.0% |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | 18,702,000 | $29.7M | New |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 24,000,000 | $26.9M | New |
| BIOMARIN PHARMACEUTICAL (BMRN 0.599 08/01/24) | NOTE 0.599% 8/0 · principal | 25,000,000 | $24.6M | Reduce -28.6% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 20,000,000 | $23.2M | Add +17.6% |
| TECHTARGET HOLDINGS INC (TTGT 0 12/15/26) | NOTE 12/1 · principal | 22,000,000 | $20.9M | New |
| IQIYI INC (IQ 6.5 03/15/28) | NOTE 6.500% 3/1 · principal | 19,800,000 | $18.8M | New |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 15,028,000 | $18.5M | New |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | 20,000,000 | $17.5M | Reduce -53.5% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 17,000,000 | $16.9M | Add +21.4% |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | 16,000,000 | $15.1M | No change |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 11,420,000 | $15.0M | Add +63.1% |
| LIVE NATION ENTERTAINMEN (LYV 2 02/15/25) | NOTE 2.000% 2/1 · principal | 13,500,000 | $15.0M | Add +440.0% |
| THE REALREAL INC (REAL 1 03/01/28) | NOTE 1.000% 3/0 · principal | 26,200,000 | $11.5M | Add +8.3% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 10,000,000 | $10.8M | New |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 11,250,000 | $10.7M | Reduce -43.8% |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | 7,500,000 | $10.4M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 11,500,000 | $9.5M | New |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 9,131,000 | $8.4M | No change |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | 7,500,000 | $8.0M | Add +50.0% |
| THE REALREAL INC (REAL 3 06/15/25) | NOTE 3.000% 6/1 · principal | 7,742,000 | $5.8M | Add +29.0% |
| EXACT SCIENCES CORP (EXAS 1 01/15/25) | NOTE 1.000% 1/1 · principal | 4,500,000 | $5.0M | New |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 5,000,000 | $4.6M | New |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 6,105,000 | $4.5M | New |
| VROOM INC (VRM 0.75 07/01/26) | NOTE 0.750% 7/0 · principal | 2,000,000 | $960K | No change |
| PUCKW Goal Acquisitions Corp.-CW | *W EXP 99/99/999 | 276,070 | $5K | No change |
| WGSWW Genedx Holdings Corp. | *W EXP 07/22/202 | 51,582 | $3K | No change |
| PRENW Prenetics Global Ltd. -CW26 | *W EXP 05/18/202 | 186,538 | $1K | No change |
| PPHPW PHP Ventures Acquisiti -CW22 | *W EXP 08/16/202 | 31,600 | $727 | No change |
Total filed on the 13F, all lines: $1.2B.
Portfolio Sells Q4 2023 → Q1 2024
Portfolio Buys Q4 2023 → Q1 2024
| DCH Dauch Corporation | New | 7.75% | +7.75 |
| GPN Global Payments Inc. | New | 7.73% | +7.73 |
| CZR Caesars Entertainment Inc. | New | 5.73% | +5.73 |
| LTH Life Time Group Holdings Inc. | New | 5.51% | +5.51 |
| IHS Ihs Holding Ltd. | Add +479.0% | 11.46% | +5.33 |
| AMBP Ardagh Metal Packaging SA | New | 4.68% | +4.68 |
| CCL Carnival Corp. | New | 4.01% | +4.01 |
| BUR Burford Capital Ltd. | New | 3.49% | +3.49 |
| COIN Coinbase Global Inc. Class A | New | 2.95% | +2.95 |
| FWRD Forward Air Corp. | New | 2.38% | +2.38 |
| DAN Dana Inc. | New | 2.22% | +2.22 |
| PENN Penn Entertainment Inc. | New | 1.99% | +1.99 |
| GFR Greenfire Resources Ltd. | Add +1.1% | 32.75% | −29.93 |
Options Activity Q4 2023 → Q1 2024
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Reduce -49.0% | 12,851,800 | $999.0M |
| IEF iShares 7-10 Year Treasury B | call | New | 3,050,000 | $288.7M |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | put | New | 2,300,000 | $250.5M |
| EMB iShares JP Morgan Usd Emergi | put | New | 1,450,000 | $130.0M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 187,500 | $98.1M |
| TLT iShares 20+ Year Treasury BD | call | New | 564,000 | $53.4M |
| AX Axos Financial Inc. | put | Sold out | 175,000 | $9.6Mbefore exit |
| ABR Arbor Realty Trust Inc. | put | New | 625,000 | $8.3M |
| FXI iShares China Large-Cap ETF | call | Reduce -49.1% | 280,000 | $6.7M |
| REAL The Realreal Inc. | put | Sold out | 1,300,000 | $2.6Mbefore exit |
| MPT Medical Properties Trust Inc. | call | New | 300,000 | $1.4M |
| PLUG Plug Power Inc. | put | Sold out | 100,000 | $450Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | New | 1,200,000 | $70.8M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Add +72.9% | 60,500,000 | $60.8M |
| ZILLOW GROUP INC (Z 0.75 09/01/24) | NOTE 0.750% 9/0 · principal | New | 50,000,000 | $59.1M |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | Add +45.0% | 58,000,000 | $56.4M |
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Add +329.1% | 57,932,000 | $53.9M |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | Add +258.8% | 57,500,000 | $53.8M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Add +209.1% | 51,000,000 | $51.6M |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | Add +63.2% | 53,027,000 | $49.1M |
| INSIGHT ENTERPRS (NSIT 0.75 02/15/25) | NOTE 0.750% 2/1 · principal | Sold out | 16,895,000 | $43.9Mbefore exit |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | New | 675,000 | $43.0M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Reduce -3.4% | 38,635,000 | $37.5M |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Sold out | 30,000,000 | $37.1Mbefore exit |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Add +48.0% | 37,000,000 | $31.7M |
| CYTOKINETICS INC (CYTK 3.5 07/01/27) | NOTE 3.500% 7/0 · principal | New | 18,702,000 | $29.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 22,000,000 | $27.9Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) | NOTE 1.750% 5/0 · principal | Sold out | 23,900,000 | $27.4Mbefore exit |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | New | 24,000,000 | $26.9M |
| BIOMARIN PHARMACEUTICAL (BMRN 0.599 08/01/24) | NOTE 0.599% 8/0 · principal | Reduce -28.6% | 25,000,000 | $24.6M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Add +17.6% | 20,000,000 | $23.2M |
| NEUROCRINE BIOSCIENCES (NBIX 2.25 05/15/24) | NOTE 2.250% 5/1 · principal | Sold out | 12,100,000 | $21.0Mbefore exit |
| TECHTARGET HOLDINGS INC (TTGT 0 12/15/26) | NOTE 12/1 · principal | New | 22,000,000 | $20.9M |
| LUMENTUM HOLDINGS INC (LITE 0.25 03/15/24) | NOTE 0.250% 3/1 · principal | Sold out | 19,600,000 | $19.7Mbefore exit |
| IQIYI INC (IQ 6.5 03/15/28) | NOTE 6.500% 3/1 · principal | New | 19,800,000 | $18.8M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | New | 15,028,000 | $18.5M |
| RAPID7 INC (RPD 0.25 03/15/27) | NOTE 0.250% 3/1 · principal | Reduce -53.5% | 20,000,000 | $17.5M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +21.4% | 17,000,000 | $16.9M |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Add +63.1% | 11,420,000 | $15.0M |
| LIVE NATION ENTERTAINMEN (LYV 2 02/15/25) | NOTE 2.000% 2/1 · principal | Add +440.0% | 13,500,000 | $15.0M |
| THE REALREAL INC (REAL 1 03/01/28) | NOTE 1.000% 3/0 · principal | Add +8.3% | 26,200,000 | $11.5M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | New | 10,000,000 | $10.8M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -43.8% | 11,250,000 | $10.7M |
| CINEMARK HOLDINGS INC (CNK 4.5 08/15/25) | NOTE 4.500% 8/1 · principal | New | 7,500,000 | $10.4M |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Sold out | 10,000,000 | $9.8Mbefore exit |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | New | 11,500,000 | $9.5M |
| BLACKLINE INC (BL 0 03/15/26) | NOTE 3/1 · principal | Sold out | 10,000,000 | $8.9Mbefore exit |
| FASTLY INC (FSLY 0 03/15/26) | NOTE 3/1 · principal | Sold out | 9,500,000 | $8.3Mbefore exit |
| ZILLOW GROUP INC (Z 2.75 05/15/25) | NOTE 2.750% 5/1 · principal | Add +50.0% | 7,500,000 | $8.0M |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Sold out | 7,700,000 | $6.9Mbefore exit |
| THE REALREAL INC (REAL 3 06/15/25) | NOTE 3.000% 6/1 · principal | Add +29.0% | 7,742,000 | $5.8M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Sold out | 6,000,000 | $5.4Mbefore exit |
| EXACT SCIENCES CORP (EXAS 1 01/15/25) | NOTE 1.000% 1/1 · principal | New | 4,500,000 | $5.0M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | New | 5,000,000 | $4.6M |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | New | 6,105,000 | $4.5M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV · principal | Sold out | 5,000,000 | $2.8Mbefore exit |
| WOLF Wolfspeed Inc. (wolf 1.875 12/01/29) | NOTE 1.875%12/0 · principal | Sold out | 4,000,000 | $2.7Mbefore 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 | 299 | $2.1B | ECHO, WBD, RSP, KYIV, SHAZ |
| Q1 2026 | 244 | $1.7B | ECHO, WBD, AES, LQD, IGSB |
| Q4 2025 | 80 | $1.6B | LQD, NSC, IGSB, TXNM, KYIV |
| Q3 2025 | 77 | $777.5M | EMB, TXNM, IGSB, NSC, LQD |
| Q2 2025 | 55 | $1.3B | LQD, IGSB, VCIT, IEF, FYBR |
| Q1 2025 | 42 | $1.3B | LQD, DFS, IEF, OMC, VCIT |
| Q4 2024 | 35 | $439.6M | K, FYBR, DFS, ALTM, JAAA |
| Q3 2024 | 30 | $271.8M | CTLT, APLD, JNPR, WULF, GFR |
| Q2 2024 | 15 | $101.8M | JBBB, GFR, IHS, CZR, CTLT |
| Q1 2024Amended | 19 | $91.6M | GFR, IHS, DCH, GPN, CZR |