Sona Asset Management (us) LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Sona Asset Management (us) LLC reported 55 stock positions worth $1.3 billion. Its top holding was Ishr Ibx Usd Invgd CB ETF-Ui (LQD) at 48.0% of the portfolio, followed by iShares 1-5Y Inv Grade (IGSB, 10.1%) and Vanguard Int-Term Corporate (VCIT, 7.9%). Compared with Q1 2025, it opened 30 new positions, sold out of 17, added to 10 and reduced 9. The biggest buy was a new position in iShares 1-5Y Inv Grade (IGSB) and the biggest sale an exit from Discover Financial Services (DFS).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001856405
- Portfolio Value
- $1.3B (Q2 2025)
- SEC Filing
- 0000905148-25-002945 ↗ filed Aug 14, 2025
Holdings Value
Holdings 55 stocks · $1.3B
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 48.00% | 5,774,092 | $632.9M | Reduce -4.4% |
| IGSB iShares 1-5Y Inv Grade Corp. | 10.14% | 2,535,000 | $133.7M | New |
| VCIT Vanguard Int-Term Corporate | 7.86% | 1,250,000 | $103.7M | Add +127.3% |
| IEF iShares 7-10 Year Treasury B | 5.27% | 725,000 | $69.4M | Reduce -14.7% |
| FYBR Frontier Communications Pare | 3.98% | 1,442,638 | $52.5M | Add +55.6% |
| TXNM TXNM Energy Inc. | 3.95% | 925,199 | $52.1M | New |
| CCIR Cohen Circle Acquisitio Class A | 1.55% | 1,859,033 | $20.4M | No change |
| SKX Skechers USA Inc. Class A | 1.47% | 307,769 | $19.4M | New |
| CCJ Cameco Corp. | 1.06% | 187,500 | $13.9M | Add +167.9% |
| BLCO Bausch + Lomb Corp. | 1.01% | 1,020,750 | $13.3M | Add +151.3% |
| CZR Caesars Entertainment Inc. | 0.93% | 430,000 | $12.2M | Add +244.0% |
| WULF Terawulf Inc. | 0.90% | 2,695,461 | $11.8M | New |
| OPTU Optimum Communications Inc. Class A filed as ALTICE USA INC | 0.77% | 4,752,841 | $10.2M | Add +8.0% |
| IHS Ihs Holding Ltd. | 0.76% | 1,802,674 | $10.0M | Reduce -14.3% |
| MSFT Microsoft Corp. | 0.75% | 20,000 | $9.9M | New |
| WBD Warner Bros Discovery Inc. | 0.67% | 774,700 | $8.9M | New |
| NN Nextnav Inc. | 0.66% | 575,128 | $8.7M | Add +111.1% |
| BABA Alibaba Group Holding-SP ADR | 0.64% | 74,186 | $8.4M | No change |
| NVDA Nvidia Corp. | 0.60% | 50,000 | $7.9M | New |
| CORZ Core Scientific Inc. | 0.60% | 461,000 | $7.9M | New |
| LITE Lumentum Holdings Inc. | 0.56% | 77,200 | $7.3M | New |
| MIR Mirion Technologies Inc. | 0.51% | 314,000 | $6.8M | New |
| UNIT Uniti Group LLC Com SHS | 0.50% | 1,537,350 | $6.6M | Add +87.4% |
| UNH Unitedhealth Group Inc. | 0.47% | 20,000 | $6.2M | New |
| URA Global X Uranium ETF | 0.44% | 150,000 | $5.8M | New |
| VFC VF Corp. | 0.42% | 472,626 | $5.6M | New |
| GFR Greenfire Resources Ltd. | 0.39% | 1,157,749 | $5.2M | Reduce -17.2% |
| STX Seagate Technology Holdings | 0.38% | 34,400 | $5.0M | New |
| PLTR Palantir Technologies Inc. Class A | 0.36% | 35,000 | $4.8M | New |
| DLR Digital Realty Trust Inc. | 0.36% | 27,200 | $4.7M | Add +54.5% |
| INTC Intel Corp. | 0.33% | 193,000 | $4.3M | No change |
| DLTR Dollar Tree Inc. | 0.30% | 40,000 | $4.0M | New |
| U Unity Software Inc. | 0.28% | 154,285 | $3.7M | New |
| MU Micron Technology Inc. | 0.28% | 30,000 | $3.7M | New |
| EWZ iShares MSCI Brazil ETF | 0.22% | 100,000 | $2.9M | New |
| EWY iShares MSCI South Korea ETF | 0.20% | 37,000 | $2.7M | New |
| DHI D.R. Horton Inc. | 0.20% | 20,000 | $2.6M | New |
| HPE Hewlett Packard Enterprise | 0.19% | 125,000 | $2.6M | New |
| LEN Lennar Corp. Class A | 0.19% | 23,000 | $2.5M | New |
| EWW iShares MSCI Mexico ETF | 0.18% | 40,000 | $2.4M | New |
| EQT Eqt Corp. | 0.18% | 40,000 | $2.3M | Reduce -73.3% |
| EYE National Vision Holdings Inc. | 0.17% | 100,000 | $2.3M | New |
| ARGT Global X MSCI Argentina ETF | 0.17% | 27,000 | $2.3M | Reduce -28.0% |
| DG Dollar General Corp. | 0.17% | 20,000 | $2.3M | New |
| TAC Transalta Corp. | 0.16% | 200,000 | $2.2M | No change |
| DDOG Datadog Inc. Class A | 0.16% | 15,990 | $2.1M | Reduce -3.1% |
| AMCX AMC Global Media Inc. filed as AMC NETWORKS INC | 0.15% | 323,975 | $2.0M | New |
| EC Ecopetrol SA-Sponsored ADR | 0.13% | 200,000 | $1.8M | Add +100.0% |
| RH RH | 0.08% | 5,400 | $1.0M | New |
| TKR Timken Co. | 0.08% | 14,000 | $1.0M | New |
| EHTH Ehealth Inc. | 0.08% | 232,589 | $1.0M | Reduce -22.5% |
| VRM Vroom Inc. | 0.03% | 14,472 | $413K | Reduce -51.4% |
| PSN Parsons Corp. | 0.03% | 4,919 | $353K | New |
| TDS Telephone and Data Systems | 0.03% | 9,398 | $334K | No change |
| THCH TH International Ltd./Cayman | 0.02% | 100,000 | $297K | No change |
Options reported separately and not counted above: HYG puts ($171.3M), GLD puts ($70.1M), QQQ calls ($61.6M), IEF puts ($47.9M), TLT puts ($43.8M), TLT calls ($37.1M), GLD calls ($30.5M), SPY puts ($29.3M), ARKK puts ($26.4M), IWM puts ($21.6M), AMED puts ($19.7M), UNH calls ($10.9M), and 8 more.
Other holdings (39): bonds, preferreds, convertibles and warrants · $1.6B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 2,100,000 | $158.1M | Add +27.3% |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | 105,301,000 | $134.3M | New |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 121,500,000 | $117.3M | Reduce -21.1% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 96,456,000 | $115.7M | Add +42.0% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 118,500,000 | $109.9M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 106,000,000 | $104.8M | Add +120.8% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 73,107,000 | $74.2M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 1,200,000 | $70.9M | Reduce -14.3% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 35,000,000 | $62.8M | New |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 60,275,000 | $60.3M | Add +19.9% |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 60,246,000 | $60.2M | Add +11.8% |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | 39,350,000 | $53.1M | Add +55.2% |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 440,000 | $50.8M | New |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 44,500,000 | $45.0M | Add +161.8% |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 40,000,000 | $45.0M | New |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | 37,500,000 | $36.9M | New |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 38,500,000 | $36.2M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 31,230,000 | $29.3M | Add +34.4% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 19,162,000 | $29.1M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 29,500,000 | $28.1M | New |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | 30,400,000 | $27.3M | Add +102.7% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 23,000,000 | $26.7M | Add +31.4% |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 22,597,000 | $17.8M | Add +8.4% |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | 350,000 | $15.5M | Reduce -36.4% |
| DROPBOX INC (DBX 0 03/01/28) | NOTE 3/0 · principal | 14,500,000 | $14.7M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 11,882,000 | $14.1M | New |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 14,000,000 | $13.9M | Reduce -26.3% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 10,000,000 | $13.1M | Reduce -16.7% |
| EXACT SCIENCES CORP (EXAS 0.375 03/15/27) | NOTE 0.375% 3/1 · principal | 13,250,000 | $12.7M | No change |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 9,000,000 | $11.1M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 10,000,000 | $10.8M | New |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | 9,000,000 | $10.7M | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 200,000 | $9.4M | Reduce -77.8% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 9,750,000 | $8.9M | Add +39.3% |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | 7,500,000 | $7.1M | Add +50.0% |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | 2,500,000 | $2.9M | New |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 200,000 | $730K | No change |
| CCIRW Cohen Circle Acquisition-29 | *W EXP 01/31/202 | 25,000 | $50K | No change |
| NOTEW Fiscalnote Holdings Inc.-CW25 | *W EXP 07/29/202 | 150,000 | $15K | No change |
Total filed on the 13F, all lines: $3.0B.
Portfolio Sells Q1 2025 → Q2 2025
| DFS Discover Financial Services | Sold out | 0.00% | −6.79 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -4.4% | 48.00% | −4.13 |
| OMC Omnicom Group | Sold out | 0.00% | −3.67 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −2.41 |
| ANSS Ansys Inc. | Sold out | 0.00% | −2.35 |
| AZEK The Azek Co. Inc. | Sold out | 0.00% | −2.32 |
| COOP Mr Cooper Group Inc. | Sold out | 0.00% | −1.57 |
| AMED Amedisys Inc. | Sold out | 0.00% | −1.52 |
| AAL American Airlines Group Inc. | Sold out | 0.00% | −1.26 |
| EVRI Everi Holdings Inc. | Sold out | 0.00% | −1.20 |
| IEF iShares 7-10 Year Treasury B | Reduce -14.7% | 5.27% | −1.17 |
| TGI Triumph Group Inc. | Sold out | 0.00% | −1.06 |
| BTDR Bitdeer Technologies Group-A | Sold out | 0.00% | −0.84 |
| TLT iShares 20+ Year Treasury BD | Sold out | 0.00% | −0.83 |
| EQT Eqt Corp. | Reduce -73.3% | 0.18% | −0.46 |
| SPR Spirit Aerosystems Hold Class A | Sold out | 0.00% | −0.42 |
| GFR Greenfire Resources Ltd. | Reduce -17.2% | 0.39% | −0.26 |
| BERY Berry Global Group Inc. | Sold out | 0.00% | −0.24 |
| NET Cloudflare Inc. Class A | Sold out | 0.00% | −0.16 |
| IHS Ihs Holding Ltd. | Reduce -14.3% | 0.76% | −0.11 |
| EHTH Ehealth Inc. | Reduce -22.5% | 0.08% | −0.08 |
| ARGT Global X MSCI Argentina ETF | Reduce -28.0% | 0.17% | −0.07 |
| ALRM Alarm.com Holdings Inc. | Sold out | 0.00% | −0.06 |
| VSH Vishay Intertechnology Inc. | Sold out | 0.00% | −0.04 |
| VRM Vroom Inc. | Reduce -51.4% | 0.03% | −0.04 |
| DDOG Datadog Inc. Class A | Reduce -3.1% | 0.16% | +0.03 |
Portfolio Buys Q1 2025 → Q2 2025
| IGSB iShares 1-5Y Inv Grade Corp. | New | 10.14% | +10.14 |
| VCIT Vanguard Int-Term Corporate | Add +127.3% | 7.86% | +4.29 |
| TXNM TXNM Energy Inc. | New | 3.95% | +3.95 |
| SKX Skechers USA Inc. Class A | New | 1.47% | +1.47 |
| FYBR Frontier Communications Pare | Add +55.6% | 3.98% | +1.34 |
| WULF Terawulf Inc. | New | 0.90% | +0.90 |
| CCJ Cameco Corp. | Add +167.9% | 1.06% | +0.83 |
| MSFT Microsoft Corp. | New | 0.75% | +0.75 |
| CZR Caesars Entertainment Inc. | Add +244.0% | 0.93% | +0.68 |
| WBD Warner Bros Discovery Inc. | New | 0.67% | +0.67 |
| NVDA Nvidia Corp. | New | 0.60% | +0.60 |
| CORZ Core Scientific Inc. | New | 0.60% | +0.60 |
| LITE Lumentum Holdings Inc. | New | 0.56% | +0.56 |
| BLCO Bausch + Lomb Corp. | Add +151.3% | 1.01% | +0.54 |
| MIR Mirion Technologies Inc. | New | 0.51% | +0.51 |
| UNH Unitedhealth Group Inc. | New | 0.47% | +0.47 |
| URA Global X Uranium ETF | New | 0.44% | +0.44 |
| VFC VF Corp. | New | 0.42% | +0.42 |
| NN Nextnav Inc. | Add +111.1% | 0.66% | +0.40 |
| STX Seagate Technology Holdings | New | 0.38% | +0.38 |
| PLTR Palantir Technologies Inc. Class A | New | 0.36% | +0.36 |
| DLTR Dollar Tree Inc. | New | 0.30% | +0.30 |
| U Unity Software Inc. | New | 0.28% | +0.28 |
| MU Micron Technology Inc. | New | 0.28% | +0.28 |
| EWZ iShares MSCI Brazil ETF | New | 0.22% | +0.22 |
| EWY iShares MSCI South Korea ETF | New | 0.20% | +0.20 |
| DHI D.R. Horton Inc. | New | 0.20% | +0.20 |
| HPE Hewlett Packard Enterprise | New | 0.19% | +0.19 |
| LEN Lennar Corp. Class A | New | 0.19% | +0.19 |
| EWW iShares MSCI Mexico ETF | New | 0.18% | +0.18 |
| UNIT Uniti Group LLC Com SHS | Add +87.4% | 0.50% | +0.18 |
| EYE National Vision Holdings Inc. | New | 0.17% | +0.17 |
| DG Dollar General Corp. | New | 0.17% | +0.17 |
| DLR Digital Realty Trust Inc. | Add +54.5% | 0.36% | +0.16 |
| AMCX AMC Global Media Inc. | New | 0.15% | +0.15 |
| RH RH | New | 0.08% | +0.08 |
| TKR Timken Co. | New | 0.08% | +0.08 |
| EC Ecopetrol SA-Sponsored ADR | Add +100.0% | 0.13% | +0.05 |
| PSN Parsons Corp. | New | 0.03% | +0.03 |
| OPTU Optimum Communications Inc. Class A | Add +8.0% | 0.77% | −0.16 |
Options Activity Q1 2025 → Q2 2025
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Add +6.2% | 2,124,000 | $171.3M |
| GLD SPDR Gold Shares | put | New | 230,000 | $70.1M |
| CWB SS SPDR BB Conv Sec ETF | put | Sold out | 847,100 | $64.9Mbefore exit |
| QQQ Invesco QQQ Trust Series 1 | call | Reduce -72.1% | 111,700 | $61.6M |
| IEF iShares 7-10 Year Treasury B | put | New | 500,000 | $47.9M |
| TLT iShares 20+ Year Treasury BD | put | Reduce -17.3% | 496,500 | $43.8M |
| TLT iShares 20+ Year Treasury BD | call | Reduce -75.3% | 420,000 | $37.1M |
| GLD SPDR Gold Shares | call | New | 100,000 | $30.5M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 47,500 | $29.3M |
| ARKK ARK Innovation ETF | put | New | 375,000 | $26.4M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 50,000 | $23.4Mbefore exit |
| IWM iShares Russell 2000 ETF | put | New | 100,000 | $21.6M |
| AMED Amedisys Inc. | put | New | 200,000 | $19.7M |
| X United States Steel Corp. | call | Sold out | 375,000 | $15.8Mbefore exit |
| KWEB Kranesh Csi China Internet | call | Sold out | 350,000 | $12.2Mbefore exit |
| UNH Unitedhealth Group Inc. | call | New | 35,000 | $10.9M |
| COF Capital One Financial Corp. | call | Sold out | 50,000 | $9.0Mbefore exit |
| BA The Boeing Co. | put | Sold out | 50,000 | $8.5Mbefore exit |
| DCH Dauch Corporation | call | New | 2,076,700 | $8.5M |
| CPRI Capri Holdings Ltd. | call | Sold out | 400,000 | $7.9Mbefore exit |
| V Visa Inc. Class A | put | New | 22,200 | $7.9M |
| SNPS Synopsys Inc. | call | New | 15,000 | $7.7M |
| NN Nextnav Inc. | call | Sold out | 385,000 | $4.7Mbefore exit |
| RDUS Radius Recycling Inc. Class A | put | Sold out | 100,000 | $2.9Mbefore exit |
| NVDA Nvidia Corp. | put | Sold out | 25,000 | $2.7Mbefore exit |
| KVUE Kenvue Inc. | call | New | 100,000 | $2.1M |
| CODI Compass Diversified Holdings | put | New | 203,000 | $1.3M |
| SWTX Springworks Therapeutics Inc. | call | Sold out | 27,500 | $1.2Mbefore exit |
| MIND MEDICINE MINDMED INC | call | Sold out | 100,000 | $585Kbefore exit |
| NOTE Fiscalnote Holdings Inc. | call | Reduce -50.0% | 100,000 | $54K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Add +27.3% | 2,100,000 | $158.1M |
| ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) | NOTE 0.500% 6/0 · principal | New | 105,301,000 | $134.3M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -21.1% | 121,500,000 | $117.3M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Add +42.0% | 96,456,000 | $115.7M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 118,500,000 | $109.9M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Add +120.8% | 106,000,000 | $104.8M |
| PDD HOLDINGS INC (PDD 0 12/01/25) | NOTE 12/0 · principal | Sold out | 88,335,000 | $87.0Mbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | NOTE 0.125% 5/0 · principal | Sold out | 78,500,000 | $78.2Mbefore exit |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | New | 73,107,000 | $74.2M |
| ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) | NOTE 1.500% 9/0 · principal | Sold out | 71,500,000 | $71.9Mbefore exit |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Reduce -14.3% | 1,200,000 | $70.9M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 35,000,000 | $62.8M |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | Add +19.9% | 60,275,000 | $60.3M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Add +11.8% | 60,246,000 | $60.2M |
| UNITED STATES STEEL CORP (X 5 11/01/26) | NOTE 5.000%11/0 · principal | Sold out | 17,635,000 | $55.9Mbefore exit |
| WAYFAIR INC (W 3.5 11/15/28) | NOTE 3.500%11/1 · principal | Add +55.2% | 39,350,000 | $53.1M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 51,534,000 | $51.5Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | Sold out | 55,363,000 | $51.1Mbefore exit |
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | New | 440,000 | $50.8M |
| ECHOSTAR CORP (ECHO 3.875 11/30/30) | NOTE 3.875%11/3 · principal | Sold out | 45,000,000 | $50.4Mbefore exit |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +161.8% | 44,500,000 | $45.0M |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | New | 40,000,000 | $45.0M |
| MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) | NOTE 0.750% 6/0 · principal | New | 37,500,000 | $36.9M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | New | 38,500,000 | $36.2M |
| SEAGATE HDD CAYMAN (STX 3.5 06/01/28) | NOTE 3.500% 6/0 · principal | Sold out | 27,500,000 | $33.2Mbefore exit |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | Add +34.4% | 31,230,000 | $29.3M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | New | 19,162,000 | $29.1M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | New | 29,500,000 | $28.1M |
| DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) | NOTE 3/1 · principal | Add +102.7% | 30,400,000 | $27.3M |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | Add +31.4% | 23,000,000 | $26.7M |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Sold out | 25,000,000 | $25.0Mbefore exit |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Sold out | 20,074,000 | $18.6Mbefore exit |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | Add +8.4% | 22,597,000 | $17.8M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Sold out | 450,000 | $16.3Mbefore exit |
| NEXTERA ENERGY INC (NEE 7.234 11/01/27) | UNIT 11/01/2027 | Reduce -36.4% | 350,000 | $15.5M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 11,882,000 | $14.1M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -26.3% | 14,000,000 | $13.9M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Reduce -16.7% | 10,000,000 | $13.1M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | New | 9,000,000 | $11.1M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | New | 10,000,000 | $10.8M |
| ON SEMICONDUCTOR CORP (ON 0 05/01/27) | NOTE 5/0 · principal | New | 9,000,000 | $10.7M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | Reduce -77.8% | 200,000 | $9.4M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | Add +39.3% | 9,750,000 | $8.9M |
| WAYFAIR INC (W 1 08/15/26) | NOTE 1.000% 8/1 · principal | Add +50.0% | 7,500,000 | $7.1M |
| ENVISTA HOLDINGS CORP (NVST 2.375 06/01/25) | NOTE 2.375% 6/0 · principal | Sold out | 7,000,000 | $7.1Mbefore exit |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Sold out | 5,000,000 | $4.9Mbefore exit |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | Sold out | 6,105,000 | $4.1Mbefore exit |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Sold out | 3,000,000 | $2.9Mbefore exit |
| PROGRESS SOFTWARE CORP (PRGS 3.5 03/01/30) | NOTE 3.500% 3/0 · principal | New | 2,500,000 | $2.9M |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | Sold out | 2,500,000 | $2.9Mbefore 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 |