TENOR CAPITAL MANAGEMENT Co., L.P.

Name: TENOR CAPITAL MANAGEMENT Co., L.P. 13F holdings, Q4 2024
Creator: TENOR CAPITAL MANAGEMENT Co., L.P.
Published: 2025-02-14

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

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), TENOR CAPITAL MANAGEMENT Co., L.P. reported 38 stock positions worth $100.7 million. Its top holding was Roman DBDR Acquisition (DRDBU) at 10.0% of the portfolio, followed by Translational Development Ac (TDACU, 6.3%) and Aldel Financial II (ALDF, 6.2%). Compared with Q3 2024, it opened 19 new positions and sold out of 9. The biggest buy was a new position in Roman DBDR Acquisition (DRDBU) and the biggest sale an exit from Ziff Davis Inc. (zd 3.625 03/01/28).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001346554
Portfolio Value: $100.7M (Q4 2024)
SEC Filing: 0001493152-25-006884 ↗ filed Feb 14, 2025

Holdings Value

Holdings 38 stocks · $100.7M


DRDBU Roman DBDR Acquisition Corp.	10.00%	1,010,000	$10.1M	New
TDACU Translational Development Ac	6.32%	635,399	$6.4M	New
ALDF Aldel Financial II Inc.	6.15%	625,800	$6.2M	New
FACTU Fact II Acquisition Corp.	5.95%	600,000	$6.0M	New
BEAG Bold Eagle Acquisition Cor-A	5.88%	600,000	$5.9M	New
RANGU Range Capital Acquisition Co.	4.99%	500,000	$5.0M	New
MLACU Mountain Lake Acquisition Co.	4.98%	500,000	$5.0M	New
CCIR Cohen Circle Acquisitio Class A	4.97%	500,000	$5.0M	New
TONT Graf Global Corp. Class A	4.01%	400,000	$4.0M	No change
JACS.U Jackson Acquisition Co. II	4.00%	400,000	$4.0M	New
LPAA Launch One Acquisition Corp.	3.99%	400,000	$4.0M	No change
ALF Centurion Acquisition Corp.	3.01%	300,000	$3.0M	No change
VACH Voyager Acquisition Corp.	2.99%	300,000	$3.0M	No change
OACC Oaktree Acquisition Corp. I-A	2.97%	300,000	$3.0M	New
BTDR Bitdeer Technologies Group-A	2.88%	133,600	$2.9M	New
CUB Lionheart Holdings Class A	2.51%	250,000	$2.5M	No change
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP	2.50%	250,000	$2.5M	No change
LPBB Launch Two Acquisition Class A	2.47%	250,000	$2.5M	New
NTWO Newbury Street II Ac Class A	2.45%	249,418	$2.5M	New
CCIX Churchill Capital Corp. Ix	2.05%	200,000	$2.1M	No change
WLAC Willow Lane Acquisition Class A	1.83%	185,916	$1.8M	New
IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP	1.73%	175,000	$1.7M	No change
APLD Applied Digital Corp.	1.52%	200,000	$1.5M	New
IREN Iren Ltd. filed as IREN LIMITED	1.51%	154,679	$1.5M	New
ARES ACQUISITION CORP II	1.09%	100,000	$1.1M	No change
NETD Nabors Energy Transition C-A	1.07%	100,000	$1.1M	No change
CEP Cantor Equity Partners Inc.	1.03%	100,000	$1.0M	No change
FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR	1.01%	100,000	$1.0M	No change
IBAC Ib Acquisition Corp.	1.01%	100,000	$1.0M	No change
GRPN Groupon Inc.	0.70%	58,300	$708K	New
HAYMAKER ACQUISITION CORP 4	0.54%	50,099	$540K	No change
SPKLF Spark I Acquisition Corp.	0.53%	50,000	$532K	No change
GSRT GSR III Acquisition Corp.	0.49%	50,000	$495K	New
LEGT Legato Merger Corp. III	0.41%	40,000	$412K	No change
BKHA Black Hawk Acquisition Cor-A	0.36%	35,000	$363K	No change
ENGENE HOLDINGS INC	0.05%	55,243	$47K	No change
THCH TH International Ltd./Cayman	0.03%	42,000	$30K	No change
ELONG POWER HOLDING LTD.	0.01%	10,000	$13K	New

Other holdings (253): bonds, preferreds, convertibles and warrants · $7.0B (not counted above)

Security	Class	Shares / Principal	Value	Change
HUBSPOT INC (HUBS 0.375 06/01/25)	NOTE 0.375% 6/0 · principal	112,020,000	$275.6M	Add +40.3%
BLOCK INC (XYZ 0.125 03/01/25)	NOTE 0.125% 3/0 · principal	269,601,000	$268.5M	Add +7.4%
INSIGHT ENTERPRS (NSIT 0.75 02/15/25)	NOTE 0.750% 2/1 · principal	96,427,000	$218.1M	No change
UNITY SOFTWARE INC (U 0 11/15/26)	NOTE 11/1 · principal	210,600,000	$192.3M	Add +40.5%
DEXCOM INC (DXCM 0.25 11/15/25)	NOTE 0.250%11/1 · principal	180,000,000	$173.6M	Add +19.5%
RINGCENTRAL INC (RNG 0 03/15/26)	NOTE 3/1 · principal	150,000,000	$140.0M	Add +4.8%
LIVONGO HEALTH (TDOC 0.875 06/01/25)	NOTE 0.875% 6/0 · principal	138,538,000	$135.8M	Add +25.9%
NUVASIVE INC (GMED 0.375 03/15/25)	NOTE 0.375% 3/1 · principal	135,000,000	$133.6M	Add +20.0%
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	99,142,000	$123.3M	Reduce -15.3%
AXON ENTERPRISE INC (AXON 0.5 12/15/27)	NOTE 0.500%12/1 · principal	45,847,000	$119.7M	New
LYFT INC (LYFT 1.5 05/15/25)	NOTE 1.500% 5/1 · principal	115,742,000	$114.5M	Add +15.7%
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	83,160,000	$112.0M	Add +1.9%
EURONET WORLDWIDE INC (EEFT 0.75 03/15/49)	NOTE 0.750% 3/1 · principal	111,492,000	$110.7M	Add +25.3%
TRIPADVISOR INC (TRIP 0.25 04/01/26)	NOTE 0.250% 4/0 · principal	115,884,000	$109.0M	Add +1.0%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	97,860,000	$108.0M	Add +2.1%
AIRBNB INC (ABNB 0 03/15/26)	NOTE 3/1 · principal	115,000,000	$107.9M	No change
FIVE9 INC (FIVN 0.5 06/01/25)	NOTE 0.500% 6/0 · principal	109,805,000	$107.4M	No change
EVOLENT HEALTH INC (EVH 1.5 10/15/25)	NOTE 1.500%10/1 · principal	108,650,000	$106.0M	Add +22.5%
DAYFORCE INC (DAY 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	107,912,000	$104.6M	Add +4.9%
ZIFF DAVIS INC (ZD 3.625 03/01/28)	DEBT 3.625% 3/0 · principal	99,500,000	$99.1M	New
DATADOG INC (DDOG 0.125 06/15/25)	NOTE 0.125% 6/1 · principal	63,105,000	$97.7M	Add +40.2%
WIX LTD (WIX 0 08/15/25)	NOTE 8/1 · principal	100,000,000	$96.7M	Add +35.1%
CLOUDFLARE INC (NET 0 08/15/26)	NOTE 8/1 · principal	100,000,000	$96.1M	Add +17.6%
HAEMONETICS CORP (HAE 0 03/01/26)	NOTE 3/0 · principal	100,676,000	$95.0M	Add +109.7%
NOVOCURE LTD (NVCR 0 11/01/25)	NOTE 11/0 · principal	97,695,000	$93.3M	No change
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	92,776,000	$90.3M	Add +24.5%
LCI INDUSTRIES (LCII 1.125 05/15/26)	NOTE 1.125% 5/1 · principal	90,672,000	$89.7M	Add +152.0%
IONIS PHARMACEUTICALS IN (IONS 0 04/01/26)	NOTE 4/0 · principal	89,000,000	$86.4M	No change
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	83,000,000	$86.2M	Add +5.0%
INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25)	NOTE 0.500% 8/1 · principal	84,661,000	$81.9M	No change
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28)	NOTE 3.750% 5/1 · principal	40,000,000	$78.7M	No change
VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26)	NOTE 1.625% 3/1 · principal	75,500,000	$78.1M	Reduce -5.6%
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	87,500,000	$76.8M	No change
VERINT SYSTEMS INC (VRNT 0.25 04/15/26)	NOTE 0.250% 4/1 · principal	80,129,000	$75.5M	No change
HEALTH CATALYST INC (HCAT 2.5 04/15/25)	NOTE 2.500% 4/1 · principal	75,256,000	$74.9M	No change
BLACKLINE INC (BL 0 03/15/26)	NOTE 3/1 · principal	79,000,000	$74.5M	Add +5.3%
VARONIS SYSTEM INC (VRNS 1.25 08/15/25)	NOTE 1.250% 8/1 · principal	50,150,000	$73.5M	No change
RAPID7 INC (RPD 0.25 03/15/27)	NOTE 0.250% 3/1 · principal	77,387,000	$72.0M	No change
FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25)	NOTE 11/0 · principal	74,915,000	$71.4M	Add +7.0%
INSULET CORPORATION (PODD 0.375 09/01/26)	NOTE 0.375% 9/0 · principal	55,000,000	$69.6M	Reduce -30.8%
UPWORK INC (UPWK 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	74,808,000	$69.5M	Add +148.3%
INFINERA CORP (INFN 3.75 08/01/28)	NOTE 3.750% 8/0 · principal	58,000,000	$69.2M	Reduce -11.4%
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	69,446,000	$69.2M	Add +120.4%
UNITED STATES STEEL CORP (X 5 11/01/26)	NOTE 5.000%11/0 · principal	25,012,000	$64.5M	No change
VAIL RESORTS INC (MTN 0 01/01/26)	NOTE 1/0 · principal	66,396,000	$63.2M	Add +16.3%
Q2 HOLDINGS INC (QTWO 0.75 06/01/26)	NOTE 0.750% 6/0 · principal	50,923,000	$63.1M	Add +1.3%
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	55,000,000	$60.9M	No change
JAMF HOLDING CORP (JAMF 0.125 09/01/26)	NOTE 0.125% 9/0 · principal	65,034,000	$59.9M	Add +11.1%
SNAP INC (SNAP 0 05/01/27)	NOTE 5/0 · principal	64,000,000	$55.7M	Add +6.7%
DYNAVAX TECHNOLOGIES (DVAX 2.5 05/15/26)	NOTE 2.500% 5/1 · principal	41,058,000	$54.2M	Add +64.2%
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26)	NOTE 0.375% 6/1 · principal	54,657,000	$53.9M	Add +22.4%
IMAX CORP (IMAX 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	49,649,000	$52.9M	Add +1.0%
NEOGENOMICS INC (NEO 0.25 01/15/28)	NOTE 0.250% 1/1 · principal	60,500,000	$51.3M	Add +50.7%
RINGCENTRAL INC (RNG 0 03/01/25)	NOTE 3/0 · principal	51,361,000	$50.8M	Add +2.6%
Q2 HOLDINGS INC (QTWO 0.125 11/15/25)	NOTE 0.125%11/1 · principal	50,055,000	$49.7M	Add +103.8%
PROS HOLDINGS INC (PRO 2.25 09/15/27)	NOTE 2.250% 9/1 · principal	50,000,000	$48.2M	Reduce -14.7%
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	55,019,000	$47.6M	No change
EXPEDIA GROUP INC (EXPE 0 02/15/26)	NOTE 2/1 · principal	45,000,000	$44.8M	No change
NEOGENOMICS INC (NEO 1.25 05/01/25)	NOTE 1.250% 5/0 · principal	45,153,000	$44.5M	No change
STRIDE INC (LRN 1.125 09/01/27)	NOTE 1.125% 9/0 · principal	21,358,000	$43.2M	New
CINEMARK HOLDINGS INC (CNK 4.5 08/15/25)	NOTE 4.500% 8/1 · principal	18,250,000	$40.1M	Reduce -39.2%
VERADIGM INC (MDRX 0.875 01/01/27)	NOTE 0.875% 1/0 · principal	33,646,000	$37.7M	New
NOVA LTD (NVMI 0 10/15/25)	NOTE 10/1 · principal	14,261,000	$37.7M	Add +17.5%
OMNICELL INC (OMCL 0.25 09/15/25)	NOTE 0.250% 9/1 · principal	38,848,000	$37.3M	Reduce -66.2%
CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28)	NOTE 3.875% 9/1 · principal	36,012,000	$36.8M	Add +67.5%
SEA LTD (SEALTD 0.25 09/15/26)	NOTE 0.250% 9/1 · principal	40,000,000	$36.4M	New
GUIDEWIRE SOFTWARE INC (GWRE 1.25 03/15/25)	NOTE 1.250% 3/1 · principal	24,076,000	$35.8M	Reduce -72.3%
INNOVIVA INC (INVA 2.5 08/15/25)	NOTE 2.500% 8/1 · principal	32,076,000	$35.7M	No change
NATIONAL VISION HOLDINGS (EYE 2.5 05/15/25)	NOTE 2.500% 5/1 · principal	35,089,000	$34.7M	No change
FASTLY INC (FSLY 0 03/15/26)	NOTE 3/1 · principal	36,740,000	$34.4M	Reduce -59.2%
BURLINGTON STORES INC (BURL 2.25 04/15/25)	NOTE 2.250% 4/1 · principal	25,742,000	$33.8M	Add +107.3%
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26)	NOTE 2.000% 6/1 · principal	32,500,000	$33.0M	Add +44.4%
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	36,292,000	$32.4M	Add +21.0%
ACCURAY INC (ARAY 3.75 06/01/26)	NOTE 3.750% 6/0 · principal	34,804,000	$32.3M	No change
EXACT SCIENCES CORP (EXAS 0.375 03/01/28)	NOTE 0.375% 3/0 · principal	36,000,000	$32.0M	New
CALLAWAY GOLF CO (CALY 2.75 05/01/26)	NOTE 2.750% 5/0 · principal	32,500,000	$31.9M	No change
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27)	NOTE 2.625%12/1 · principal	22,500,000	$30.1M	Add +87.1%
ARTIVION INC (AORT 4.25 07/01/25)	NOTE 4.250% 7/0 · principal	22,500,000	$28.9M	No change
SHAKE SHACK INC (SHAK 0 03/01/28)	NOTE 3/0 · principal	28,072,000	$28.8M	No change
CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26)	NOTE 0.625% 6/1 · principal	29,941,000	$28.2M	New
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	31,061,000	$28.1M	No change
3D SYSTEMS CORP (DDD 0 11/15/26)	NOTE 11/1 · principal	30,283,000	$27.0M	Add +332.6%
ZIFF DAVIS INC (ZD 1.75 11/01/26)	NOTE 1.750%11/0 · principal	27,887,000	$26.3M	Add +315.9%
ALARM.COM HLDGS INC (ALRM 0 01/15/26)	NOTE 1/1 · principal	27,807,000	$26.3M	Reduce -33.5%
SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25)	NOTE 1.250% 5/0 · principal	25,000,000	$25.8M	No change
EXACT SCIENCES CORP (EXAS 1 01/15/25)	NOTE 1.000% 1/1 · principal	25,000,000	$25.1M	New
CONMED CORP (CNMD 2.25 06/15/27)	NOTE 2.250% 6/1 · principal	25,697,000	$23.9M	New
PAR TECHNOLOGY CORP (PAR 1.5 10/15/27)	NOTE 1.500%10/1 · principal	20,500,000	$23.7M	Reduce -38.5%
SHOPIFY INC (SHOPCN 0.125 11/01/25)	NOTE 0.125%11/0 · principal	22,500,000	$23.0M	Add +28.6%
INTERDIGITAL INC (IDCC 3.5 06/01/27)	NOTE 3.500% 6/0 · principal	9,058,000	$22.8M	New
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27)	NOTE 0.250% 3/0 · principal	22,500,000	$21.6M	New
PAGERDUTY INC. (PD 1.25 07/01/25)	NOTE 1.250% 7/0 · principal	21,219,000	$20.9M	Add +13.4%
VAREX IMAGING CORPORATIO (VREX 4 06/01/25)	NOTE 4.000% 6/0 · principal	20,521,000	$20.7M	Add +105.2%
PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25)	NOTE 0.750% 8/0 · principal	20,659,000	$20.2M	No change
NICE LTD (NICEIT 0 09/15/25)	NOTE 9/1 · principal	20,300,000	$19.5M	Reduce -4.7%
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29)	NOTE 3.125% 1/1 · principal	13,809,000	$19.1M	New
VEECO INSTRUMENTS INC (VECO 3.5 01/15/25)	NOTE 3.500% 1/1 · principal	16,600,000	$18.9M	Add +26.7%
MITEK SYSTEMS INC (MITK 0.75 02/01/26)	NOTE 0.750% 2/0 · principal	18,000,000	$17.4M	No change
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	12,500,000	$16.6M	New
VEECO INSTRUMENTS INC (VECO 3.75 06/01/27)	NOTE 3.750% 6/0 · principal	8,164,000	$16.1M	No change
LIVEPERSON INC (LPSN 0 12/15/26)	NOTE 12/1 · principal	40,016,000	$16.0M	No change
LUCID GROUP INC (LCID 1.25 12/15/26)	1.250 12/15/26 CVT · principal	20,000,000	$15.7M	New
SEA LTD (SEALTD 2.375 12/01/25)	NOTE 2.375%12/0 · principal	11,650,000	$14.8M	Add +133.0%
EXACT SCIENCES CORP (EXAS 0.375 03/15/27)	NOTE 0.375% 3/1 · principal	15,550,000	$14.5M	Reduce -10.5%
APELLIS PHARMACEUTICALS (APLS 3.5 09/15/26)	NOTE 3.500% 9/1 · principal	11,950,000	$14.0M	No change
PAR TECHNOLOGY CORP (PAR 2.875 04/15/26)	NOTE 2.875% 4/1 · principal	7,850,000	$13.6M	Reduce -84.8%
TECHTARGET HOLDINGS INC (TTGT 0 12/15/26)	NOTE 12/1 · principal	12,500,000	$12.5M	No change
MESA LABORATORIES INC (MLAB 1.375 08/15/25)	NOTE 1.375% 8/1 · principal	10,359,000	$10.1M	No change
WOLF Wolfspeed Inc. (wolf 0.25 02/15/28)	NOTE 0.250% 2/1 · principal	20,000,000	$9.3M	Add +53.9%
GOPRO INC (GPRO 1.25 11/15/25)	NOTE 1.250%11/1 · principal	9,750,000	$9.1M	No change
OKTA INC (OKTA 0.375 06/15/26)	NOTE 0.375% 6/1 · principal	9,602,000	$8.9M	Add +56.3%
ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26)	NOTE 0.750% 8/0 · principal	8,500,000	$8.1M	New
RAPID7 INC (RPD 2.25 05/01/25)	NOTE 2.250% 5/0 · principal	7,455,000	$7.4M	No change
MAKEMYTRIP LIMITED (MMYT 0 02/15/28)	NOTE 2/1 · principal	2,500,000	$7.3M	New
VERITONE INC (VERI 1.75 11/15/26)	NOTE 1.750%11/1 · principal	16,956,000	$7.2M	No change
EVENTBRITE INC (EB 5 12/01/25)	NOTE 5.000%12/0 · principal	7,159,000	$7.1M	No change
EVENTBRITE INC (EB 0.75 09/15/26)	NOTE 0.750% 9/1 · principal	8,006,000	$7.1M	No change
BOX INC (BOX 0 01/15/26)	NOTE 1/1 · principal	5,500,000	$7.0M	No change
CERENCE INC (CRNC 3 06/01/25)	NOTE 3.000% 6/0 · principal	7,000,000	$6.9M	Reduce -35.3%
FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27)	NOTE 0.375% 1/1 · principal	7,174,000	$6.5M	New
BEYOND MEAT INC (BYND 0 03/15/27)	NOTE 3/1 · principal	37,000,000	$5.9M	Add +85.0%
ACCOLADE INC (ACCD 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	6,250,000	$5.9M	No change
HAT HOLDINGS I LLC/HAT (HASI 0 05/01/25)	NOTE 5/0 · principal	5,000,000	$5.4M	New
BLOCK INC (XYZ 0 05/01/26)	NOTE 5/0 · principal	5,116,000	$4.8M	No change
BILL HOLDINGS INC (BILL 0 12/01/25)	NOTE 12/0 · principal	4,709,000	$4.5M	Reduce -81.2%
HCI GROUP INC (HCI 4.75 06/01/42)	NOTE 4.750% 6/0 · principal	2,807,000	$4.3M	Reduce -51.7%
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	4,245,000	$4.3M	New
SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25)	NOTE 9/1 · principal	4,600,000	$4.3M	No change
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	4,007,000	$4.3M	New
IMPINJ INC (PI 1.125 05/15/27)	NOTE 1.125% 5/1 · principal	2,750,000	$3.9M	New
CERENCE INC (CRNC 1.5 07/01/28)	NOTE 1.500% 7/0 · principal	5,379,000	$3.6M	No change
BANDWIDTH INC (BAND 0.5 04/01/28)	NOTE 0.500% 4/0 · principal	4,000,000	$3.2M	No change
BILL HOLDINGS INC (BILL 0 04/01/27)	NOTE 4/0 · principal	3,391,000	$3.0M	No change
SNAP INC (SNAP 0.125 03/01/28)	NOTE 0.125% 3/0 · principal	3,500,000	$2.9M	New
BANDWIDTH INC (BAND 0.25 03/01/26)	NOTE 0.250% 3/0 · principal	1,845,000	$1.7M	No change
TPI COMPOSITES INC (TPIC 5.25 03/15/28)	NOTE 5.250% 3/1 · principal	2,000,000	$531K	No change
QBTS.WS D-Wave Quantum Inc. -27	*W EXP 08/05/202	108,000	$421K	No change
CAMTEK LTD/ISRAEL (CAMT 0 12/01/26)	NOTE 12/0 · principal	250,000	$375K	Reduce -97.8%
GRND.WS Grindr Inc. -26	*W EXP 11/18/202	50,000	$338K	No change
BBAI.WS Bigbear.ai Holdings -CW28	*W EXP 12/08/202	200,000	$318K	No change
CUTERA INC (CUTR 4 06/01/29)	NOTE 4.000% 6/0 · principal	2,500,000	$283K	No change
GCMGW GCM Grosvenor Inc. A -CW25	*W EXP 11/17/202	200,902	$253K	No change
BEAGR Bold Eagle Acquisition Corp.	RIGHT 10/11/2029	600,000	$135K	New
SHMDW Schmid Group NV -28	*W EXP 04/30/202	462,500	$116K	No change
ALDFW Aldel Financial II Inc. - 29	*W EXP 09/26/203	312,900	$94K	New
GBGWF Global Blue Group Holding AG	*W EXP 08/28/202	2,500,000	$76K	No change
CCIRW Cohen Circle Acquisition-29	*W EXP 01/31/202	166,666	$75K	New
UNITED HOMES GROUP INC	*W EXP 03/30/202	75,000	$68K	No change
LNZAW Amci Acquisition II A -CW28	*W EXP 01/01/202	235,341	$66K	No change
OACCW Oaktree Acquisition III -31	*W EXP 09/01/203	60,000	$53K	New
JSPRW Jasper Therapeutics Inc.-CW26	*W EXP 09/24/202	250,000	$52K	No change
MDAIW Spectral AI -CW27	*W EXP 09/11/202	66,666	$51K	No change
ADSEW ADS-Tec Energy PLC-WRNT	*W EXP 99/99/999	12,500	$45K	No change
AMBWQ Ambipar Emergency Respons-28	*W EXP 03/03/202	150,000	$44K	No change
CNCKW Coincheck Group NV	*W EXP 12/11/202	20,000	$37K	New
LZM.WS Lifezone Metals Ltd. -28	*W EXP 07/05/202	50,000	$37K	No change
RSVRW Reservoir Media-CW26	*W EXP 08/26/202	25,000	$36K	No change
GRRRW Gorilla Technology Group-CW	*W EXP 99/99/999	37,500	$35K	No change
SATLW Satellogic Inc.-A -23	*W EXP 01/25/202	91,779	$34K	No change
CXAIW Kins Tech Group Class A -CW25	*W EXP 99/99/999	150,000	$34K	No change
DRTSW Alpha Tau Medical Ltd. -27	*W EXP 99/99/999	150,000	$32K	No change
BDMDW Baird Medical Investment -28	*W EXP 10/01/202	150,000	$31K	New
CLSKW Cleanspark Inc.-29	*W EXP 12/29/202	37,500	$27K	New
LPAAW Launch One Acquisition - 29	*W EXP 06/01/203	200,000	$27K	No change
PITWF Heramba Electric PLC-28	*W EXP 07/26/202	618,750	$26K	No change
AERTW Aeries Technology Inc. -CW23	*W EXP 11/06/202	750,000	$26K	No change
ZEOWW Esgen Acquisition A -CW23	*W EXP 03/13/202	250,000	$26K	No change
TONT.WS Graf Global Corp.- 29	*W EXP 05/31/203	200,000	$26K	No change
ML.WS Moneylion Inc. -CW27	*W EXP 09/22/202	141,750	$26K	No change
CCIXW Churchill Capital Corp. I-29	*W EXP 03/31/203	50,000	$26K	No change
KVAWF Keen Vision Acquisition C-28	*W EXP 03/15/202	513,600	$25K	No change
LPBBW Launch Two Acquisition -29	*W EXP 10/09/202	125,000	$24K	New
CRMLW Critical Metals Corp.-28	*W EXP 02/27/202	100,000	$23K	No change
FBYDW Falcon's Beyond Global-27	*W EXP 10/06/202	24,900	$23K	No change
BYNOW Bynordic Acquisition -CW27	*W EXP 07/01/202	742,500	$23K	No change
VLOSW M3-Brigade Acquisition -30	*W EXP 99/99/999	125,000	$23K	No change
BKSYW Blacksky Technology -CW24	*W EXP 09/09/202	198,855	$22K	No change
ALFUW Centurion Acquisition - 29	*W EXP 05/31/203	150,000	$21K	No change
DISTR Distoken Acquisition Corp.	RIGHT 99/99/9999	100,000	$21K	No change
PDYNW Sarcos Technology -CW27	*W EXP 09/24/202	24,900	$19K	No change
RNWWW Renew Energy Global -CW26	*W EXP 08/21/202	116,666	$19K	No change
NTWOW Newbury Street II Acq - 29	*W EXP 06/01/203	124,709	$19K	New
VACHW Voyager Acquisition Corp. -CW	*W EXP 05/16/203	150,000	$18K	No change
OAKUR Oak Woods Acquisition Cor-RT	RIGHT 03/23/2028	75,000	$17K	No change
GCTS.WS Concord Acq Class A -CW28	*W EXP 03/01/202	125,000	$17K	No change
PRCWF Procaps Group SA -CW26	*W EXP 09/29/202	400,000	$17K	No change
NVNWF Nvni Group Ltd.-28	*W EXP 11/01/202	250,000	$17K	No change
EVLVW Evolv Technologies -CW26	*W EXP 07/16/202	50,000	$15K	No change
CUBWW Lionheart Holdings - WT	*W EXP 06/07/203	125,000	$14K	No change
CRTWF Cartica Acquisition A -28	*W EXP 04/30/202	50,000	$14K	No change
PETWQ Wag! Group Co.	*W EXP 07/30/202	990,000	$13K	No change
ABPWW Atlantic Coast Acq -CW23	*W EXP 11/12/202	200,000	$13K	New
BAERW Wildfire New Pubco Inc.-27	*W EXP 01/24/202	274,854	$12K	No change
SDSTW Global Partner Acq A -CW27	*W EXP 06/21/202	49,432	$12K	No change
VSTWF Vast Solar PTY Ltd. -28	*W EXP 07/01/202	150,000	$11K	No change
IMSRW HCM II Acquisition Corp. - 29	*W EXP 99/99/999	87,500	$11K	New
LVWR.WS Livewire Group Inc.-27	*W EXP 09/26/202	160,820	$8K	No change
NETDW Nabors Energy Transiti-CW	*W EXP 09/01/202	50,000	$8K	No change
KDKRW Ares Acquisition Corp. II-28	*W EXP 99/99/999	50,000	$8K	No change
RDZNW Vahanna Tech Edge -CW24	*W EXP 11/30/202	50,000	$8K	No change

Largest 200 of 253 shown.

Total filed on the 13F, all lines: $7.1B.

Portfolio Sells Q3 2024 → Q4 2024


ZIFF DAVIS INC (ZD 3.625 03/01/28)	Sold out	0.00%	−58.07
VERADIGM INC (MDRX 0.875 01/01/27)	Sold out	0.00%	−18.42
KVACF Keen Vision Acquisition Corp.	Sold out	0.00%	−2.74
HAT HOLDINGS I LLC/HAT (HASI 0 05/01/25)	Sold out	0.00%	−2.65
SKINHEALTH SYSTEMS INC (SKIN 1.25 10/01/26)	Sold out	0.00%	−2.08
DIST Distoken Acquisition Corp.	Sold out	0.00%	−0.54
OAKU Oak Woods Acquisition Corp. Class A	Sold out	0.00%	−0.41
TMTC TMT Acquisition Corp. Class A	Sold out	0.00%	−0.28
ABPWW Atlantic Coastal Aqstn Corp.	Sold out	0.00%	−0.00

Portfolio Buys Q3 2024 → Q4 2024


DRDBU Roman DBDR Acquisition Corp.	New	10.00%	+10.00
TDACU Translational Development Ac	New	6.32%	+6.32
ALDF Aldel Financial II Inc.	New	6.15%	+6.15
FACTU Fact II Acquisition Corp.	New	5.95%	+5.95
BEAG Bold Eagle Acquisition Cor-A	New	5.88%	+5.88
RANGU Range Capital Acquisition Co.	New	4.99%	+4.99
MLACU Mountain Lake Acquisition Co.	New	4.98%	+4.98
CCIR Cohen Circle Acquisitio Class A	New	4.97%	+4.97
JACS.U Jackson Acquisition Co. II	New	4.00%	+4.00
OACC Oaktree Acquisition Corp. I-A	New	2.97%	+2.97
BTDR Bitdeer Technologies Group-A	New	2.88%	+2.88
LPBB Launch Two Acquisition Class A	New	2.47%	+2.47
NTWO Newbury Street II Ac Class A	New	2.45%	+2.45
WLAC Willow Lane Acquisition Class A	New	1.83%	+1.83
APLD Applied Digital Corp.	New	1.52%	+1.52
IREN Iren Ltd.	New	1.51%	+1.51
GRPN Groupon Inc.	New	0.70%	+0.70
GSRT GSR III Acquisition Corp.	New	0.49%	+0.49
ELONG POWER HOLDING LTD.	New	0.01%	+0.01

Notes & Other Activity Q3 2024 → Q4 2024


CYBERARK SOFTWARE LTD (CYBR 0 11/15/24)	NOTE 11/1 · principal	Sold out	155,058,000	$287.1Mbefore exit
HUBSPOT INC (HUBS 0.375 06/01/25)	NOTE 0.375% 6/0 · principal	Add +40.3%	112,020,000	$275.6M
BLOCK INC (XYZ 0.125 03/01/25)	NOTE 0.125% 3/0 · principal	Add +7.4%	269,601,000	$268.5M
UNITY SOFTWARE INC (U 0 11/15/26)	NOTE 11/1 · principal	Add +40.5%	210,600,000	$192.3M
DEXCOM INC (DXCM 0.25 11/15/25)	NOTE 0.250%11/1 · principal	Add +19.5%	180,000,000	$173.6M
ENVESTNET INC (ENV 0.75 08/15/25)	0.75 8/15/2025 · principal	Sold out	169,509,000	$167.4Mbefore exit
RINGCENTRAL INC (RNG 0 03/15/26)	NOTE 3/1 · principal	Add +4.8%	150,000,000	$140.0M
LIVONGO HEALTH (TDOC 0.875 06/01/25)	NOTE 0.875% 6/0 · principal	Add +25.9%	138,538,000	$135.8M
NUVASIVE INC (GMED 0.375 03/15/25)	NOTE 0.375% 3/1 · principal	Add +20.0%	135,000,000	$133.6M
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	Reduce -15.3%	99,142,000	$123.3M
AXON ENTERPRISE INC (AXON 0.5 12/15/27)	NOTE 0.500%12/1 · principal	New	45,847,000	$119.7M
LYFT INC (LYFT 1.5 05/15/25)	NOTE 1.500% 5/1 · principal	Add +15.7%	115,742,000	$114.5M
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	Add +1.9%	83,160,000	$112.0M
EURONET WORLDWIDE INC (EEFT 0.75 03/15/49)	NOTE 0.750% 3/1 · principal	Add +25.3%	111,492,000	$110.7M
TRIPADVISOR INC (TRIP 0.25 04/01/26)	NOTE 0.250% 4/0 · principal	Add +1.0%	115,884,000	$109.0M
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	Add +2.1%	97,860,000	$108.0M
EVOLENT HEALTH INC (EVH 1.5 10/15/25)	NOTE 1.500%10/1 · principal	Add +22.5%	108,650,000	$106.0M
DAYFORCE INC (DAY 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	Add +4.9%	107,912,000	$104.6M
ZIFF DAVIS INC (ZD 3.625 03/01/28)	DEBT 3.625% 3/0 · principal	New	99,500,000	$99.1M
DATADOG INC (DDOG 0.125 06/15/25)	NOTE 0.125% 6/1 · principal	Add +40.2%	63,105,000	$97.7M
WIX LTD (WIX 0 08/15/25)	NOTE 8/1 · principal	Add +35.1%	100,000,000	$96.7M
CLOUDFLARE INC (NET 0 08/15/26)	NOTE 8/1 · principal	Add +17.6%	100,000,000	$96.1M
HAEMONETICS CORP (HAE 0 03/01/26)	NOTE 3/0 · principal	Add +109.7%	100,676,000	$95.0M
CHART INDUSTRIES INC (GTLS 1 11/15/24)	NOTE 1.000%11/1 · principal	Sold out	44,040,000	$92.4Mbefore exit
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	Add +24.5%	92,776,000	$90.3M
LCI INDUSTRIES (LCII 1.125 05/15/26)	NOTE 1.125% 5/1 · principal	Add +152.0%	90,672,000	$89.7M
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	Add +5.0%	83,000,000	$86.2M
VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26)	NOTE 1.625% 3/1 · principal	Reduce -5.6%	75,500,000	$78.1M
MONGODB INC (MDB 0.25 01/15/26)	NOTE 0.250% 1/1 · principal	Sold out	54,063,000	$74.6Mbefore exit
BLACKLINE INC (BL 0 03/15/26)	NOTE 3/1 · principal	Add +5.3%	79,000,000	$74.5M
FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25)	NOTE 11/0 · principal	Add +7.0%	74,915,000	$71.4M
INSULET CORPORATION (PODD 0.375 09/01/26)	NOTE 0.375% 9/0 · principal	Reduce -30.8%	55,000,000	$69.6M
UPWORK INC (UPWK 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	Add +148.3%	74,808,000	$69.5M
INFINERA CORP (INFN 3.75 08/01/28)	NOTE 3.750% 8/0 · principal	Reduce -11.4%	58,000,000	$69.2M
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	Add +120.4%	69,446,000	$69.2M
VAIL RESORTS INC (MTN 0 01/01/26)	NOTE 1/0 · principal	Add +16.3%	66,396,000	$63.2M
Q2 HOLDINGS INC (QTWO 0.75 06/01/26)	NOTE 0.750% 6/0 · principal	Add +1.3%	50,923,000	$63.1M
JAMF HOLDING CORP (JAMF 0.125 09/01/26)	NOTE 0.125% 9/0 · principal	Add +11.1%	65,034,000	$59.9M
SNAP INC (SNAP 0 05/01/27)	NOTE 5/0 · principal	Add +6.7%	64,000,000	$55.7M
DYNAVAX TECHNOLOGIES (DVAX 2.5 05/15/26)	NOTE 2.500% 5/1 · principal	Add +64.2%	41,058,000	$54.2M
CHEESECAKE FACTORY (THE) (CAKE 0.375 06/15/26)	NOTE 0.375% 6/1 · principal	Add +22.4%	54,657,000	$53.9M
IMAX CORP (IMAX 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	Add +1.0%	49,649,000	$52.9M
NEOGENOMICS INC (NEO 0.25 01/15/28)	NOTE 0.250% 1/1 · principal	Add +50.7%	60,500,000	$51.3M
RINGCENTRAL INC (RNG 0 03/01/25)	NOTE 3/0 · principal	Add +2.6%	51,361,000	$50.8M
MANNKIND CORP (MNKD 2.5 03/01/26)	NOTE 2.500% 3/0 · principal	Sold out	37,500,000	$50.1Mbefore exit
Q2 HOLDINGS INC (QTWO 0.125 11/15/25)	NOTE 0.125%11/1 · principal	Add +103.8%	50,055,000	$49.7M
M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	Sold out	34,500,000	$48.8Mbefore exit
PROS HOLDINGS INC (PRO 2.25 09/15/27)	NOTE 2.250% 9/1 · principal	Reduce -14.7%	50,000,000	$48.2M
STRIDE INC (LRN 1.125 09/01/27)	NOTE 1.125% 9/0 · principal	New	21,358,000	$43.2M
ENVESTNET INC (ENV 2.625 12/01/27)	NOTE 2.625%12/0 · principal	Sold out	40,000,000	$42.8Mbefore exit

Showing the first 50 of 149.

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	190	$1.5B	CCIX, XRPN, GIX, KFII, GTEN
Q1 2026	182	$1.5B	CCIX, XRPN, GIX, MLAC, KFII
Q4 2025	144	$1.2B	CCIX, XRPN, MLAC, KFII, TACH
Q3 2025	115	$922.2M	CHAC, KFII, GTEN, TACH, TVA
Q2 2025	93	$727.6M	CHAC, GTEN, KFII, TACH, TMS
Q1 2025	50	$340.0M	ZIFF DAVIS INC (ZD 3.625 03/01/28), KFIIU, DYNAVAX TECHNOLOGIES CORP, ATIIU, LOKVU
Q4 2024	38	$100.7M	DRDBU, TDACU, ALDF, FACTU, BEAG
Q3 2024	28	$201.8M	ZIFF DAVIS INC (ZD 3.625 03/01/28), VERADIGM INC (MDRX 0.875 01/01/27), KVACF, HAT HOLDINGS I LLC/HAT (HASI 0 05/01/25), SKINHEALTH SYSTEMS INC (SKIN 1.25 10/01/26)
Q2 2024	21	$26.9M	KVACF, RRACF, TONT.U, CCIX, ARYD
Q1 2024	40	$216.5M	NRG ENERGY INC (NRG 2.75 06/01/48), HARMONIC INC (HLIT 2 09/01/24), NEE, PEGR, KVACF