TENOR CAPITAL MANAGEMENT Co., L.P.

Name: TENOR CAPITAL MANAGEMENT Co., L.P. 13F holdings, Q2 2025
Creator: TENOR CAPITAL MANAGEMENT Co., L.P.
Published: 2025-08-14

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

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), TENOR CAPITAL MANAGEMENT Co., L.P. reported 93 stock positions worth $727.6 million. Its top holding was Crane Harbor Acqu Class A (CHAC) at 3.0% of the portfolio, followed by Gores Holdings X Class A (GTEN, 2.8%) and K&F Growth Acquisition Cor-A (KFII, 2.8%). Compared with Q1 2025, it opened 52 new positions, sold out of 6, added to 15 and reduced 4. The biggest buy was a new position in Crane Harbor Acqu Class A (CHAC) 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: $727.6M (Q2 2025)
SEC Filing: 0001346554-25-000068 ↗ filed Aug 14, 2025

Holdings Value

Holdings 93 stocks · $727.6M


CHAC Crane Harbor Acqu Corp. Class A	2.99%	2,160,000	$21.8M	New
GTEN Gores Holdings X Inc. Class A	2.82%	2,000,000	$20.5M	New
KFII K&F Growth Acquisition Cor-A	2.80%	2,000,000	$20.4M	New
TACH Titan Acquisition Corp. Class A	2.77%	2,000,000	$20.2M	New
TMS Teamshares Inc. filed as LIVE OAK ACQUISITION CORP V	2.57%	1,750,000	$18.7M	Add +16.7%
TVA Texas Ventures Acquisition-A	2.43%	1,750,000	$17.7M	New
SZZL Sizzle Acquisition Corp. Class A	2.42%	1,750,000	$17.6M	New
SOUL Soulpower Acquisition Co. Class A	2.38%	1,750,000	$17.3M	New
ATII Archimedes Tech Spac Partner	2.11%	1,500,000	$15.3M	No change
XRPNU Armada Acquisition Corp. II	2.10%	1,500,000	$15.3M	New
NPAC New Providence Acquisition-A	2.10%	1,500,000	$15.3M	New
ONEN One Nuclear Energy Inc. filed as HENNESSY CAP INVT CORP VII	2.09%	1,500,000	$15.2M	New
FERA Fifth Era Acquisition Corp. Class A	2.09%	1,500,000	$15.2M	No change
FAC Factorial Energy Inc. filed as CARTESIAN GROWTH CORP III	2.07%	1,500,000	$15.0M	New
SDHIU Siddhi Acquisition Corp.	1.95%	1,374,599	$14.2M	New
DAAQ Digital Asset Acquisiti Class A	1.80%	1,250,000	$13.1M	New
IPCX Inflection Point Acquisiti-A	1.75%	1,250,000	$12.7M	New
RAAQ Real Asset Acquisiti Class A	1.74%	1,250,000	$12.7M	New
CRAQU Cal Redwood Acquisition Corp.	1.69%	1,200,000	$12.3M	New
GSHR Gesher Acquisition Corp. II-A	1.66%	1,200,000	$12.1M	Add +56.0%
BACCU Blue Acquisition Corp.	1.66%	1,200,000	$12.0M	New
DRDB Roman DBDR Acquisition Corp.	1.57%	1,110,000	$11.4M	No change
ANSC Agriculture & Natural Soluti	1.49%	1,000,000	$10.8M	New
LEGT Legato Merger Corp. III	1.47%	1,000,000	$10.7M	Add +2400.0%
CCCXU Churchill Capital Corp. X	1.42%	1,000,000	$10.3M	New
JENA.U Jena Acquisition Corp. II	1.41%	1,000,000	$10.3M	New
RDAG Republic Digital Acquis Class A	1.41%	1,000,000	$10.3M	New
CCAQU Dune Acquisition Corp. II	1.40%	1,000,000	$10.2M	New
TVAIU Thayer Ventures Acquisition	1.40%	1,000,000	$10.2M	New
LWACU Lightwave Acquisition Corp.	1.38%	1,000,000	$10.1M	New
BLUWU Blue Water Acquisition III filed as BLUE WTR ACQUISITION CORP. I	1.38%	1,000,000	$10.0M	New
NHIC Newhold Investment Cor III-A	1.37%	1,000,000	$9.9M	Add +25.0%
OYSEU Oyster Enterprises II Acquis	1.25%	900,000	$9.1M	New
FACT Fact II Acquisition Corp.	1.20%	849,950	$8.7M	Add +41.7%
VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP	1.16%	750,000	$8.5M	Add +200.0%
WENNU Wen Acquisition Corp.	1.16%	800,000	$8.5M	New
TACO Berto Acquisition Corp.	1.15%	800,000	$8.3M	New
BRR Columbus Circle Capital Co. Class A	1.09%	750,000	$8.0M	New
ALF Centurion Acquisition Corp.	1.08%	750,000	$7.9M	Add +150.0%
LPAA Launch One Acquisition Corp.	1.07%	750,000	$7.8M	Add +87.5%
GPAT GP-Act III Acquisition-A	1.07%	750,000	$7.8M	New
VCIC Vine Hill Capital Class A	1.07%	750,000	$7.8M	New
POLE Andretti Acquisition Corp. Class A	1.07%	750,000	$7.8M	New
COPL Copley Acquisition Corp. Class A	1.04%	750,000	$7.6M	New
ALDF Aldel Financial II Inc.	1.01%	699,234	$7.3M	Add +11.7%
PLMK Plum Acquisition Corp. IV	0.99%	700,000	$7.2M	No change
EGHAU Egh Acquisition Corp.	0.98%	700,000	$7.1M	New
SVCC Stellar V Capital Corp. Class A	0.93%	675,179	$6.7M	No change
AXINU Axiom Intelligence Acquisiti	0.90%	650,000	$6.6M	New
TDAC Translational Development Ac	0.90%	635,399	$6.5M	No change
PCAPU Procap Acquisition Corp.	0.88%	600,000	$6.4M	New
BEAG Bold Eagle Acquisition Cor-A	0.86%	600,000	$6.3M	No change
TONT Graf Global Corp. Class A	0.86%	600,020	$6.3M	Add +50.0%
JACS Jackson Acquisition Co. Class A	0.85%	600,000	$6.2M	Add +50.0%
OBAWU Oxley Bridge Acquisition Ltd.	0.83%	600,000	$6.0M	New
PACHU Pioneer Acquisition I Corp.	0.82%	600,000	$6.0M	New
CYBR Cyberark Software Ltd./Israel	0.82%	14,700	$6.0M	New
HAYMAKER ACQUISITION CORP 4	0.76%	500,000	$5.5M	Add +898.0%
CCIR Cohen Circle Acquisitio Class A	0.75%	497,116	$5.5M	Reduce -0.6%
CEPO Cantor Equity Partners I-A	0.74%	450,000	$5.4M	Reduce -64.5%
HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP	0.72%	507,699	$5.3M	New
MLAC Mountain Lake Acquisition-A	0.70%	500,000	$5.1M	No change
LPBB Launch Two Acquisition Class A	0.70%	489,947	$5.1M	Add +96.0%
RANG Range Capital Acquisition Co.	0.70%	500,000	$5.1M	No change
IREN Iren Ltd. filed as IREN LIMITED	0.70%	349,879	$5.1M	Add +126.2%
KCHVU Kochav Defense Acquisition C	0.70%	500,000	$5.1M	New
CAEP Cantor Equity Partners III-A	0.62%	425,000	$4.5M	New
RTAC Renatus Tactical Acquisiti-A	0.49%	300,000	$3.5M	New
CEPT Cantor Equity Partners Class A	0.45%	300,000	$3.3M	New
OACC Oaktree Acquisition Corp. I-A	0.43%	300,000	$3.1M	No change
VACH Voyager Acquisition Corp.	0.43%	300,000	$3.1M	No change
RAC Rithm Acquisition Corp. Class A	0.42%	300,000	$3.1M	No change
FIGXU Figx Capital Acquisition Cor	0.41%	300,000	$3.0M	New
WLAC Willow Lane Acquisition Class A	0.40%	285,956	$2.9M	Add +53.8%
CUB Lionheart Holdings Class A	0.36%	250,000	$2.6M	No change
NTWO Newbury Street II Ac Class A	0.35%	249,418	$2.6M	No change
MCGAU Yorkville Acquisition Corp.	0.31%	200,000	$2.3M	New
CCIX Churchill Capital Corp. Ix	0.29%	200,000	$2.1M	No change
ARAY Accuray Inc.	0.28%	1,500,000	$2.1M	New
IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP	0.22%	142,960	$1.6M	Reduce -18.3%
IPEX Inflection Point Acquisition filed as MAYWOOD ACQUISITION CORP	0.17%	125,000	$1.3M	New
NETD Nabors Energy Transition C-A	0.15%	100,000	$1.1M	No change
FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR	0.15%	100,000	$1.1M	No change
PMTRU Perimeter Acquisition Corp. I	0.14%	100,000	$1.1M	New
IBAC Ib Acquisition Corp.	0.14%	100,000	$1.0M	No change
CHPGU Championsgate Acquisition Co.	0.14%	100,000	$1.0M	New
MIR Mirion Technologies Inc.	0.13%	42,998	$926K	New
SPKLF Spark I Acquisition Corp.	0.07%	50,000	$545K	No change
GSRT GSR III Acquisition Corp.	0.07%	50,000	$540K	No change
BKHA Black Hawk Acquisition Cor-A	0.05%	35,000	$372K	No change
BTDR Bitdeer Technologies Group-A	0.05%	29,800	$342K	Reduce -77.7%
FLYYQ Spirit Aviation Holdings Inc.	0.03%	37,241	$186K	New
ENGENE HOLDINGS INC	0.01%	55,243	$45K	No change

Other holdings (270): bonds, preferreds, convertibles and warrants · $6.7B (not counted above)

Security	Class	Shares / Principal	Value	Change
CARNIVAL CORP	NOTE 5.750% 12/1 · principal	110,000,000	$242.9M	New
CLOUDFLARE INC (NET 0 08/15/26)	NOTE 8/1 · principal	162,364,000	$192.8M	Add +9.8%
RINGCENTRAL INC (RNG 0 03/15/26)	NOTE 3/1 · principal	200,000,000	$192.8M	Reduce -6.2%
DEXCOM INC (DXCM 0.25 11/15/25)	NOTE 0.250%11/1 · principal	191,713,000	$188.5M	Add +8.6%
INTERDIGITAL INC (IDCC 3.5 06/01/27)	NOTE 3.500% 6/0 · principal	55,000,000	$160.8M	Add +70.2%
UNITY SOFTWARE INC (U 0 11/15/26)	NOTE 11/1 · principal	168,246,000	$157.3M	Add +71.8%
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27)	NOTE 0.375% 9/0 · principal	143,514,000	$139.7M	Add +89.5%
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	110,500,000	$139.6M	Add +0.5%
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	138,536,000	$138.0M	Add +7.0%
DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26)	NOTE 12/0 · principal	140,023,000	$131.1M	No change
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	130,000,000	$120.4M	Add +25.6%
HAEMONETICS CORP (HAE 0 03/01/26)	NOTE 3/0 · principal	119,217,000	$115.3M	Add +6.6%
VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26)	NOTE 1.625% 3/1 · principal	110,100,000	$112.1M	Add +18.6%
TRIPADVISOR INC (TRIP 0.25 04/01/26)	NOTE 0.250% 4/0 · principal	115,893,000	$111.9M	No change
EVOLENT HEALTH INC (EVH 1.5 10/15/25)	NOTE 1.500%10/1 · principal	108,650,000	$107.8M	No change
IONIS PHARMACEUTICALS IN (IONS 0 04/01/26)	NOTE 4/0 · principal	106,292,000	$107.6M	Add +10.4%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	90,843,000	$107.0M	Reduce -1.3%
JAMF HOLDING CORP (JAMF 0.125 09/01/26)	NOTE 0.125% 9/0 · principal	108,302,000	$102.7M	No change
CONMED CORP (CNMD 2.25 06/15/27)	NOTE 2.250% 6/1 · principal	103,000,000	$98.0M	Add +53.5%
NOVOCURE LTD (NVCR 0 11/01/25)	NOTE 11/0 · principal	97,695,000	$95.6M	No change
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30)	NOTE 0.750% 6/0 · principal	96,675,000	$95.2M	New
CONFLUENT INC (CFLT 0 01/15/27)	NOTE 1/1 · principal	100,106,000	$93.5M	Add +300.4%
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26)	NOTE 2.000% 6/1 · principal	88,536,000	$89.8M	Reduce -4.8%
ZIFF DAVIS INC (ZD 3.625 03/01/28)	DEBT 3.625% 3/0 · principal	94,500,000	$89.7M	New
DAYFORCE INC (DAY 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	90,000,000	$87.0M	Add +20.0%
VARONIS SYSTEM INC (VRNS 1.25 08/15/25)	NOTE 1.250% 8/1 · principal	51,999,000	$86.3M	Add +0.2%
INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25)	NOTE 0.500% 8/1 · principal	86,161,000	$85.7M	No change
STRATEGY INC (MSTR 0.625 03/15/30)	NOTE 0.625% 3/1 · principal	30,000,000	$83.6M	Add +100.0%
GRANITE CONSTRUCTION INC (GVA 3.75 05/15/28)	NOTE 3.750% 5/1 · principal	40,000,000	$83.4M	No change
RAPID7 INC (RPD 0.25 03/15/27)	NOTE 0.250% 3/1 · principal	89,537,000	$83.3M	Add +7.6%
WIX LTD (WIX 0 08/15/25)	NOTE 8/1 · principal	83,500,000	$83.0M	No change
NEOGENOMICS INC (NEO 0.25 01/15/28)	NOTE 0.250% 1/1 · principal	92,722,000	$79.7M	Add +22.6%
VERINT SYSTEMS INC (VRNT 0.25 04/15/26)	NOTE 0.250% 4/1 · principal	82,309,000	$79.1M	Add +38.8%
EXACT SCIENCES CORP (EXAS 0.375 03/01/28)	NOTE 0.375% 3/0 · principal	84,000,000	$76.9M	Add +20.0%
FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25)	NOTE 11/0 · principal	78,000,000	$76.5M	No change
BLACKLINE INC (BL 0 03/15/26)	NOTE 3/1 · principal	79,000,000	$76.1M	No change
UPWORK INC (UPWK 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	79,509,000	$75.4M	No change
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	75,344,000	$75.0M	Add +2.7%
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	65,000,000	$73.5M	Reduce -13.3%
BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27)	NOTE 1.250% 5/1 · principal	77,575,000	$73.3M	New
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27)	NOTE 1.000% 9/1 · principal	54,335,000	$70.9M	Add +210.1%
BENTLEY SYSTEMS (BSY 0.375 07/01/27)	NOTE 0.375% 7/0 · principal	72,595,000	$68.7M	No change
STRIDE INC (LRN 1.125 09/01/27)	NOTE 1.125% 9/0 · principal	24,203,000	$67.5M	Reduce -4.3%
IMAX CORP (IMAX 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	56,500,000	$63.7M	Reduce -14.4%
SUPER MICRO COMPUTER INC (SMCI 3.5 03/01/29)	NOTE 3.500% 3/0 · principal	60,000,000	$63.5M	No change
PROS HOLDINGS INC (PRO 2.5 07/01/30)	DEBT 2.500% 7/0 · principal	56,854,000	$61.4M	New
CINEMARK HOLDINGS INC (CNK 4.5 08/15/25)	NOTE 4.500% 8/1 · principal	28,250,000	$60.4M	Reduce -8.8%
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	65,339,000	$58.5M	Add +11.5%
ETSY INC (ETSY 0.125 10/01/26)	NOTE 0.125%10/0 · principal	58,265,000	$56.6M	Add +629.2%
VAIL RESORTS INC (MTN 0 01/01/26)	NOTE 1/0 · principal	54,299,000	$52.9M	No change
TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28)	NOTE 1.500% 6/0 · principal	31,405,000	$50.5M	New
EXPEDIA GROUP INC (EXPE 0 02/15/26)	NOTE 2/1 · principal	50,000,000	$48.8M	Add +11.1%
AIRBNB INC (ABNB 0 03/15/26)	NOTE 3/1 · principal	50,000,000	$48.2M	Reduce -48.7%
INNOVIVA INC (INVA 2.5 08/15/25)	NOTE 2.500% 8/1 · principal	40,110,000	$47.2M	Add +25.1%
Q2 HOLDINGS INC (QTWO 0.75 06/01/26)	NOTE 0.750% 6/0 · principal	38,441,000	$45.5M	Reduce -28.0%
UGI CORP (UGI 5 06/01/28)	NOTE 5.000% 6/0 · principal	32,500,000	$45.1M	New
Q2 HOLDINGS INC (QTWO 0.125 11/15/25)	NOTE 0.125%11/1 · principal	45,055,000	$44.6M	Reduce -10.0%
SEA LTD (SEALTD 2.375 12/01/25)	NOTE 2.375%12/0 · principal	25,000,000	$44.4M	Add +25.0%
EXACT SCIENCES CORP (EXAS 0.375 03/15/27)	NOTE 0.375% 3/1 · principal	44,500,000	$42.6M	Add +12.7%
OMNICELL INC (OMCL 0.25 09/15/25)	NOTE 0.250% 9/1 · principal	38,848,000	$38.5M	No change
BRIDGEBIO PHARMA INC (BBIO 2.5 03/15/27)	NOTE 2.500% 3/1 · principal	30,000,000	$37.6M	No change
POST HOLDINGS INC (POST 2.5 08/15/27)	NOTE 2.500% 8/1 · principal	32,500,000	$37.5M	New
FASTLY INC (FSLY 0 03/15/26)	NOTE 3/1 · principal	37,140,000	$35.9M	No change
SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27)	NOTE 1.250% 9/1 · principal	47,500,000	$35.8M	Reduce -41.7%
PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26)	NOTE 1.750%12/1 · principal	37,534,000	$35.6M	No change
NCL CORPORATION LTD (NCLH 5.375 08/01/25)	NOTE 5.375% 8/0 · principal	30,976,000	$35.4M	Reduce -2.2%
FIVE9 INC (FIVN 1 03/15/29)	NOTE 1.000% 3/1 · principal	40,000,000	$35.2M	No change
CALLAWAY GOLF CO (CALY 2.75 05/01/26)	NOTE 2.750% 5/0 · principal	35,640,000	$34.9M	Reduce -9.3%
SOUTHERN CO (SO 3.875 12/15/25)	NOTE 3.875%12/1 · principal	30,000,000	$33.3M	Reduce -53.9%
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26)	NOTE 4.250% 8/1 · principal	30,000,000	$33.0M	No change
ZIFF DAVIS INC (ZD 1.75 11/01/26)	NOTE 1.750%11/0 · principal	34,550,000	$33.0M	Add +1.0%
CMS ENERGY CORP (CMS 3.375 05/01/28)	NOTE 3.375% 5/0 · principal	30,000,000	$32.1M	New
ENOVIS CORP (ENOV 3.875 10/15/28)	NOTE 3.875%10/1 · principal	31,000,000	$30.9M	New
SHAKE SHACK INC (SHAK 0 03/01/28)	NOTE 3/0 · principal	28,072,000	$30.1M	No change
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29)	NOTE 3.125% 1/1 · principal	19,000,000	$29.5M	Add +37.6%
OKTA INC (OKTA 0.375 06/15/26)	NOTE 0.375% 6/1 · principal	27,156,000	$26.1M	No change
IAC FinanceCo 2, Inc.	Note 0.875% 06/15 · principal	25,070,000	$24.2M	No change
PAR TECHNOLOGY CORP (PAR 1.5 10/15/27)	NOTE 1.500%10/1 · principal	20,500,000	$23.7M	No change
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27)	NOTE 2.500% 7/1 · principal	20,694,000	$22.9M	New
PROGRESS SOFTWARE CORP (PRGS 1 04/15/26)	NOTE 1.000% 4/1 · principal	19,054,000	$22.8M	No change
ALARM.COM HLDGS INC (ALRM 0 01/15/26)	NOTE 1/1 · principal	22,009,000	$21.4M	Reduce -4.3%
MITEK SYSTEMS INC (MITK 0.75 02/01/26)	NOTE 0.750% 2/0 · principal	20,000,000	$19.7M	No change
PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25)	NOTE 0.750% 8/0 · principal	19,582,000	$19.5M	No change
DEXCOM INC (DXCM 0.375 05/15/28)	NOTE 0.375% 5/1 · principal	20,000,000	$18.8M	Add +14.3%
DYNAVAX TECHNOLOGIES CORP	DEBT 2.000% 3/1 · principal	20,000,000	$18.3M	New
WESTERN DIGITAL CORP (WDC 3 11/15/28)	NOTE 3.000%11/1 · principal	10,000,000	$18.0M	New
SNAP INC (SNAP 0 05/01/27)	NOTE 5/0 · principal	19,632,000	$17.8M	New
HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27)	NOTE 0.250% 3/0 · principal	17,000,000	$17.0M	No change
BILL HOLDINGS INC (BILL 0 04/01/27)	NOTE 4/0 · principal	17,795,000	$16.2M	Add +424.8%
LIVEPERSON INC (LPSN 0 12/15/26)	NOTE 12/1 · principal	40,016,000	$16.0M	No change
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27)	NOTE 2.625%12/1 · principal	12,500,000	$15.9M	Reduce -46.8%
SNAP INC (SNAP 0.125 03/01/28)	NOTE 0.125% 3/0 · principal	16,775,000	$14.6M	Add +379.3%
NUTANIX INC (NTNX 0.25 10/01/27)	NOTE 0.250%10/0 · principal	10,000,000	$14.1M	Add +39.1%
UPSTART HOLDINGS INC (UPST 0.25 08/15/26)	NOTE 0.250% 8/1 · principal	14,439,000	$13.8M	New
SOUTHERN CO (SO 4.5 06/15/27)	NOTE 4.500% 6/1 · principal	12,000,000	$13.2M	New
LUCID GROUP INC (LCID 1.25 12/15/26)	1.250 12/15/26 CVT · principal	15,000,000	$13.2M	New
PAR TECHNOLOGY CORP (PAR 2.875 04/15/26)	NOTE 2.875% 4/1 · principal	7,850,000	$12.8M	No change
WORKIVA INC (WK 1.25 08/15/28)	NOTE 1.250% 8/1 · principal	13,531,000	$12.7M	New
FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27)	NOTE 0.375% 1/1 · principal	12,674,000	$12.3M	No change
APELLIS PHARMACEUTICALS (APLS 3.5 09/15/26)	NOTE 3.500% 9/1 · principal	11,950,000	$12.2M	No change
LIVANOVA PLC (LIVN 2.5 03/15/29)	NOTE 2.500% 3/1 · principal	12,000,000	$12.2M	No change
MGP INGREDIENTS INC (MGPI 1.875 11/15/41)	NOTE 1.875%11/1 · principal	12,500,000	$11.9M	No change
CSG SYSTEMS INTERNATIONA (CSGS 3.875 09/15/28)	NOTE 3.875% 9/1 · principal	10,000,000	$11.4M	No change
BURLINGTON STORES INC (BURL 1.25 12/15/27)	NOTE 1.250%12/1 · principal	8,400,000	$10.9M	New
LCI INDUSTRIES (LCII 1.125 05/15/26)	NOTE 1.125% 5/1 · principal	10,728,000	$10.4M	No change
MESA LABORATORIES INC (MLAB 1.375 08/15/25)	NOTE 1.375% 8/1 · principal	10,359,000	$10.4M	No change
PROS HOLDINGS INC (PRO 2.25 09/15/27)	NOTE 2.250% 9/1 · principal	10,658,000	$10.2M	Reduce -78.7%
EVENTBRITE INC (EB 0.75 09/15/26)	NOTE 0.750% 9/1 · principal	11,006,000	$10.1M	Add +37.5%
MERITAGE HOMES CORP (MTH 1.75 05/15/28)	NOTE 1.750% 5/1 · principal	10,000,000	$9.8M	New
STRATEGY INC (MSTR 0.875 03/15/31)	NOTE 0.875% 3/1 · principal	5,000,000	$9.4M	No change
ASCENDIS PHARMA A/S (ASND 2.25 04/01/28)	NOTE 2.250% 4/0 · principal	7,250,000	$9.1M	Reduce -21.6%
GOPRO INC (GPRO 1.25 11/15/25)	NOTE 1.250%11/1 · principal	9,750,000	$9.1M	No change
BLOCK INC (XYZ 0.25 11/01/27)	NOTE 0.250%11/0 · principal	9,850,000	$8.8M	Add +97.0%
BILL HOLDINGS INC (BILL 0 12/01/25)	NOTE 12/0 · principal	8,709,000	$8.5M	Add +84.9%
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28)	NOTE 1.750% 6/1 · principal	8,000,000	$8.4M	New
DROPBOX INC (DBX 0 03/01/28)	NOTE 3/0 · principal	8,000,000	$8.1M	New
VERITONE INC (VERI 1.75 11/15/26)	NOTE 1.750%11/1 · principal	16,956,000	$7.7M	No change
CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26)	NOTE 0.625% 6/1 · principal	7,849,000	$7.5M	Reduce -76.1%
EVENTBRITE INC (EB 5 12/01/25)	NOTE 5.000%12/0 · principal	7,159,000	$7.2M	No change
OKTA INC (OKTA 0.125 09/01/25)	NOTE 0.125% 9/0 · principal	7,021,000	$7.0M	No change
WORKIVA INC (WK 1.125 08/15/26)	NOTE 1.125% 8/1 · principal	6,000,000	$6.5M	Add +64.4%
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28)	NOTE 1.750% 8/1 · principal	6,550,000	$6.1M	New
ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26)	NOTE 0.750% 8/0 · principal	5,818,000	$5.8M	No change
WOLF Wolfspeed Inc. (wolf 0.25 02/15/28)	NOTE 0.250% 2/1 · principal	20,000,000	$5.2M	No change
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	4,092,399	$4.8M	Add +2.1%
BEYOND MEAT INC (BYND 0 03/15/27)	NOTE 3/1 · principal	45,000,000	$4.5M	No change
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	4,245,000	$4.4M	No change
BANDWIDTH INC (BAND 0.5 04/01/28)	NOTE 0.500% 4/0 · principal	4,000,000	$3.4M	No change
CERENCE INC (CRNC 1.5 07/01/28)	NOTE 1.500% 7/0 · principal	3,379,000	$2.6M	No change
REPLIGEN CORP (RGEN 1 12/15/28)	NOTE 1.000%12/1 · principal	2,500,000	$2.5M	No change
3D SYSTEMS CORP (DDD 0 11/15/26)	NOTE 11/1 · principal	2,756,000	$2.5M	Reduce -91.5%
WOLF Wolfspeed Inc. (wolf 1.875 12/01/29)	NOTE 1.875%12/0 · principal	4,000,000	$1.0M	New
CRYOPORT INC	NOTE 0.750% 12/0 · principal	1,000,000	$929K	New
WOLF Wolfspeed Inc. (wolf 1.75 05/01/26)	NOTE 1.750% 5/0 · principal	3,500,000	$910K	New
BRRWW Columbus Circle Capital -30	*W EXP 05/16/203	375,000	$623K	New
CHACR Crane Harbor Acquisition-RTS	RIGHT 04/17/2030	1,980,000	$535K	New
DAAQW Digital Asset Acquisition-30	*W EXP 04/01/203	625,000	$531K	New
TMSWW Live Oak Acquisition Co.-CW29	*W EXP 99/99/999	750,000	$525K	No change
IPCXR Inflection Point Acquisition	RIGHT 04/25/2030	1,250,000	$498K	New
HVIIR Hennessy Capital Investment	RIGHT 01/17/2030	1,500,000	$495K	No change
BBAI.WS Bigbear.ai Holdings -CW28	*W EXP 12/08/202	200,000	$480K	No change
FERAR Fifth Era Acquisition Corp. I	RIGHT 02/21/2030	1,500,000	$422K	No change
RTACW Renatus Tactical Acqu - 30	*W EXP 05/15/203	200,000	$408K	New
CAMTEK LTD/ISRAEL (CAMT 0 12/01/26)	NOTE 12/0 · principal	250,000	$392K	No change
TACHW Titan Acquisition Corp -30	*W EXP 05/16/203	1,000,000	$370K	New
RDAGW Republic Digital Acqu - 30	*W EXP 05/01/203	500,000	$360K	New
SZZLR Sizzle Acquisition Corp. -RTS	RIGHT 04/02/2030	1,750,000	$350K	New
CCIRW Cohen Circle Acquisition-29	*W EXP 01/31/202	163,179	$326K	Reduce -2.1%
KFIIR K&F Growth Acquisition Corp.	RIGHT 08/29/2031	2,000,000	$319K	No change
TACOW Berto Acquisition Corp. - 30	*W EXP 05/01/203	400,000	$318K	New
NPACW New Providence Acq A -CW28	*W EXP 04/24/203	500,000	$313K	New
ATIIW Archimedes Tech-30	*W EXP 10/15/202	750,000	$305K	No change
GTENW Gores Holdings X Inc.-31	*W EXP 05/02/203	500,000	$295K	New
RAAQW REAL ASSET AQC Corp -30	*W EXP 04/24/203	625,000	$288K	New
DRDBW Roman DBDR Acquisition -30	*W EXP 10/31/203	505,000	$253K	No change
TVACW Texas Ventures Acq -31	*W EXP 04/23/203	875,000	$236K	New
SOULPOWER ACQUISITION CORP	RIGHT 99/99/9999	1,750,000	$228K	New
VLOSW M3-Brigade Acquisition -30	*W EXP 99/99/999	125,000	$219K	No change
IMSRW HCM II Acquisition Corp. - 29	*W EXP 99/99/999	87,500	$206K	No change
FACWW Cartesian Growth Corp. -30	*W EXP 05/02/203	750,000	$203K	New
TPI COMPOSITES INC (TPIC 5.25 03/15/28)	NOTE 5.250% 3/1 · principal	2,000,000	$191K	No change
BEAGR Bold Eagle Acquisition Corp.	RIGHT 10/11/2029	600,000	$188K	No change
GSHRW Gesher Acquisition Corp. I-30	*W EXP 10/31/203	600,000	$169K	Add +56.0%
ALDFW Aldel Financial II Inc. - 29	*W EXP 09/26/203	312,900	$163K	No change
SHMDW Schmid Group NV -28	*W EXP 04/30/202	462,500	$139K	No change
NHICW Newhold Investment Corp. - 30	*W EXP 01/30/203	400,000	$130K	No change
GCMGW GCM Grosvenor Inc. A -CW25	*W EXP 11/17/202	200,902	$129K	No change
RANGR Range Capital Acquisition Co.	RIGHT 99/99/9999	500,000	$125K	No change
JACKSON ACQUISITION CO II	RIGHT 99/99/9999	400,000	$112K	No change
TMCWW TMC the Metals Co. Inc. -CW25I	*W EXP 09/09/202	67,500	$99K	No change
SVCCW Stellar V Capital Corp.-Class-29	*W EXP 10/15/202	337,589	$91K	No change
FACTW Fact II Acquisition Corp. -29	*W EXP 11/26/203	300,000	$90K	No change
MLACR Mountain Lake Acquisition Co.	RIGHT 11/15/2028	500,000	$85K	No change
PLMKW Plum Acquisition Corp. IV-30	*W EXP 08/19/202	350,000	$84K	No change
TDACW Translational Dev -A -CW26	*W EXP 12/18/202	317,699	$80K	No change
COPL.WS Copley Acquisition Corp. -30	*W EXP 99/99/999	375,000	$63K	New
UNITED HOMES GROUP INC	*W EXP 03/30/202	75,000	$61K	No change
BKSYW Blacksky Technology -CW24	*W EXP 09/09/202	198,855	$59K	No change
TONT.WS Graf Global Corp.- 29	*W EXP 05/31/203	200,000	$58K	No change
LPBBW Launch Two Acquisition -29	*W EXP 10/09/202	125,000	$58K	No change
KDKRW Ares Acquisition Corp. II-28	*W EXP 99/99/999	50,000	$55K	No change
LPAAW Launch One Acquisition - 29	*W EXP 06/01/203	200,000	$54K	No change
OACCW Oaktree Acquisition III -31	*W EXP 09/01/203	60,000	$53K	No change
RAC.WS Rithm Acquisition Corp. - 30	*W EXP 99/99/999	100,000	$49K	Add +0.1%
CCIXW Churchill Capital Corp. I-29	*W EXP 03/31/203	50,000	$48K	No change
MDAIW Spectral AI -CW27	*W EXP 09/11/202	66,666	$47K	No change
CRMLW Critical Metals Corp.-28	*W EXP 02/27/202	100,000	$46K	No change
ALFUW Centurion Acquisition - 29	*W EXP 05/31/203	150,000	$45K	No change
VACHW Voyager Acquisition Corp. -CW	*W EXP 05/16/203	150,000	$45K	No change
CUBWW Lionheart Holdings - WT	*W EXP 06/07/203	125,000	$43K	No change
DRTSW Alpha Tau Medical Ltd. -27	*W EXP 99/99/999	150,000	$36K	No change
IPEXR Inflection Point Acquisition	RIGHT 99/99/9999	125,000	$34K	No change
WLACW Willow Lane Acquisition - 29	*W EXP 10/31/203	92,958	$33K	No change
RSVRW Reservoir Media-CW26	*W EXP 08/26/202	25,000	$31K	No change
JSPRW Jasper Therapeutics Inc.-CW26	*W EXP 09/24/202	250,000	$31K	No change
NTWOW Newbury Street II Acq - 29	*W EXP 06/01/203	124,709	$31K	No change
GRRRW Gorilla Technology Group-CW	*W EXP 99/99/999	37,500	$30K	No change
KVAWF Keen Vision Acquisition C-28	*W EXP 03/15/202	513,600	$28K	No change
EVLVW Evolv Technologies -CW26	*W EXP 07/16/202	50,000	$28K	No change
AMBWQ Ambipar Emergency Respons-28	*W EXP 03/03/202	150,000	$25K	No change

Largest 200 of 270 shown.

Total filed on the 13F, all lines: $7.4B.

Portfolio Sells Q1 2025 → Q2 2025


ZIFF DAVIS INC (ZD 3.625 03/01/28)	Sold out	0.00%	−26.02
DYNAVAX TECHNOLOGIES CORP	Sold out	0.00%	−5.82
CEPO Cantor Equity Partners I-A	Reduce -64.5%	0.74%	−3.08
ITGR Integer Holdings Corp.	Sold out	0.00%	−1.43
CCIR Cohen Circle Acquisitio Class A	Reduce -0.6%	0.75%	−0.90
ARES ACQUISITION CORP II	Sold out	0.00%	−0.33
IMSR Terrestrial Energy Inc.	Reduce -18.3%	0.22%	−0.32
CEP Cantor Equity Partners Inc.	Sold out	0.00%	−0.32
BTDR Bitdeer Technologies Group-A	Reduce -77.7%	0.05%	−0.30
GRPN Groupon Inc.	Sold out	0.00%	−0.16

Portfolio Buys Q1 2025 → Q2 2025


CHAC Crane Harbor Acqu Corp. Class A	New	2.99%	+2.99
GTEN Gores Holdings X Inc. Class A	New	2.82%	+2.82
KFII K&F Growth Acquisition Cor-A	New	2.80%	+2.80
TACH Titan Acquisition Corp. Class A	New	2.77%	+2.77
TVA Texas Ventures Acquisition-A	New	2.43%	+2.43
SZZL Sizzle Acquisition Corp. Class A	New	2.42%	+2.42
SOUL Soulpower Acquisition Co. Class A	New	2.38%	+2.38
XRPNU Armada Acquisition Corp. II	New	2.10%	+2.10
NPAC New Providence Acquisition-A	New	2.10%	+2.10
ONEN One Nuclear Energy Inc.	New	2.09%	+2.09
FAC Factorial Energy Inc.	New	2.07%	+2.07
SDHIU Siddhi Acquisition Corp.	New	1.95%	+1.95
DAAQ Digital Asset Acquisiti Class A	New	1.80%	+1.80
IPCX Inflection Point Acquisiti-A	New	1.75%	+1.75
RAAQ Real Asset Acquisiti Class A	New	1.74%	+1.74
CRAQU Cal Redwood Acquisition Corp.	New	1.69%	+1.69
BACCU Blue Acquisition Corp.	New	1.66%	+1.66
ANSC Agriculture & Natural Soluti	New	1.49%	+1.49
CCCXU Churchill Capital Corp. X	New	1.42%	+1.42
JENA.U Jena Acquisition Corp. II	New	1.41%	+1.41
RDAG Republic Digital Acquis Class A	New	1.41%	+1.41
CCAQU Dune Acquisition Corp. II	New	1.40%	+1.40
TVAIU Thayer Ventures Acquisition	New	1.40%	+1.40
LWACU Lightwave Acquisition Corp.	New	1.38%	+1.38
BLUWU Blue Water Acquisition III	New	1.38%	+1.38
LEGT Legato Merger Corp. III	Add +2400.0%	1.47%	+1.34
OYSEU Oyster Enterprises II Acquis	New	1.25%	+1.25
WENNU Wen Acquisition Corp.	New	1.16%	+1.16
TACO Berto Acquisition Corp.	New	1.15%	+1.15
BRR Columbus Circle Capital Co. Class A	New	1.09%	+1.09
GPAT GP-Act III Acquisition-A	New	1.07%	+1.07
VCIC Vine Hill Capital Class A	New	1.07%	+1.07
POLE Andretti Acquisition Corp. Class A	New	1.07%	+1.07
COPL Copley Acquisition Corp. Class A	New	1.04%	+1.04
EGHAU Egh Acquisition Corp.	New	0.98%	+0.98
AXINU Axiom Intelligence Acquisiti	New	0.90%	+0.90
PCAPU Procap Acquisition Corp.	New	0.88%	+0.88
OBAWU Oxley Bridge Acquisition Ltd.	New	0.83%	+0.83
PACHU Pioneer Acquisition I Corp.	New	0.82%	+0.82
CYBR Cyberark Software Ltd./Israel	New	0.82%	+0.82
HDRN Hadron Energy Inc.	New	0.72%	+0.72
KCHVU Kochav Defense Acquisition C	New	0.70%	+0.70
CAEP Cantor Equity Partners III-A	New	0.62%	+0.62
HAYMAKER ACQUISITION CORP 4	Add +898.0%	0.76%	+0.60
RTAC Renatus Tactical Acquisiti-A	New	0.49%	+0.49
CEPT Cantor Equity Partners Class A	New	0.45%	+0.45
IREN Iren Ltd.	Add +126.2%	0.70%	+0.42
FIGXU Figx Capital Acquisition Cor	New	0.41%	+0.41
VLOS Velos Acquisition I Corp.	Add +200.0%	1.16%	+0.41
MCGAU Yorkville Acquisition Corp.	New	0.31%	+0.31

Notes & Other Activity Q1 2025 → Q2 2025


CARNIVAL CORP	NOTE 5.750% 12/1 · principal	New	110,000,000	$242.9M
HUBSPOT INC (HUBS 0.375 06/01/25)	NOTE 0.375% 6/0 · principal	Sold out	111,020,000	$232.7Mbefore exit
CLOUDFLARE INC (NET 0 08/15/26)	NOTE 8/1 · principal	Add +9.8%	162,364,000	$192.8M
RINGCENTRAL INC (RNG 0 03/15/26)	NOTE 3/1 · principal	Reduce -6.2%	200,000,000	$192.8M
DEXCOM INC (DXCM 0.25 11/15/25)	NOTE 0.250%11/1 · principal	Add +8.6%	191,713,000	$188.5M
INTERDIGITAL INC (IDCC 3.5 06/01/27)	NOTE 3.500% 6/0 · principal	Add +70.2%	55,000,000	$160.8M
UNITY SOFTWARE INC (U 0 11/15/26)	NOTE 11/1 · principal	Add +71.8%	168,246,000	$157.3M
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27)	NOTE 0.375% 9/0 · principal	Add +89.5%	143,514,000	$139.7M
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25)	NOTE 12/1 · principal	Add +0.5%	110,500,000	$139.6M
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26)	NOTE 0.125% 1/1 · principal	Add +7.0%	138,536,000	$138.0M
LIVONGO HEALTH (TDOC 0.875 06/01/25)	NOTE 0.875% 6/0 · principal	Sold out	138,538,000	$137.9Mbefore exit
ZSCALER INC. (ZS 0.125 07/01/25)	NOTE 0.125% 7/0 · principal	Sold out	98,142,000	$130.3Mbefore exit
TELADOC HEALTH INC (TDOC 1.25 06/01/27)	NOTE 1.250% 6/0 · principal	Add +25.6%	130,000,000	$120.4M
LYFT INC (LYFT 1.5 05/15/25)	NOTE 1.500% 5/1 · principal	Sold out	115,742,000	$115.9Mbefore exit
HAEMONETICS CORP (HAE 0 03/01/26)	NOTE 3/0 · principal	Add +6.6%	119,217,000	$115.3M
VIAVI SOLUTIONS INC (VIAV 1.625 03/15/26)	NOTE 1.625% 3/1 · principal	Add +18.6%	110,100,000	$112.1M
FIVE9 INC (FIVN 0.5 06/01/25)	NOTE 0.500% 6/0 · principal	Sold out	109,805,000	$109.2Mbefore exit
IONIS PHARMACEUTICALS IN (IONS 0 04/01/26)	NOTE 4/0 · principal	Add +10.4%	106,292,000	$107.6M
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26)	NOTE 0.500%12/1 · principal	Reduce -1.3%	90,843,000	$107.0M
CONMED CORP (CNMD 2.25 06/15/27)	NOTE 2.250% 6/1 · principal	Add +53.5%	103,000,000	$98.0M
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30)	NOTE 0.750% 6/0 · principal	New	96,675,000	$95.2M
CONFLUENT INC (CFLT 0 01/15/27)	NOTE 1/1 · principal	Add +300.4%	100,106,000	$93.5M
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26)	NOTE 2.000% 6/1 · principal	Reduce -4.8%	88,536,000	$89.8M
ZIFF DAVIS INC (ZD 3.625 03/01/28)	DEBT 3.625% 3/0 · principal	New	94,500,000	$89.7M
DAYFORCE INC (DAY 0.25 03/15/26)	NOTE 0.250% 3/1 · principal	Add +20.0%	90,000,000	$87.0M
VARONIS SYSTEM INC (VRNS 1.25 08/15/25)	NOTE 1.250% 8/1 · principal	Add +0.2%	51,999,000	$86.3M
STRATEGY INC (MSTR 0.625 03/15/30)	NOTE 0.625% 3/1 · principal	Add +100.0%	30,000,000	$83.6M
RAPID7 INC (RPD 0.25 03/15/27)	NOTE 0.250% 3/1 · principal	Add +7.6%	89,537,000	$83.3M
UNITED STATES STEEL CORP (X 5 11/01/26)	NOTE 5.000%11/0 · principal	Sold out	25,012,000	$79.8Mbefore exit
NEOGENOMICS INC (NEO 0.25 01/15/28)	NOTE 0.250% 1/1 · principal	Add +22.6%	92,722,000	$79.7M
VERINT SYSTEMS INC (VRNT 0.25 04/15/26)	NOTE 0.250% 4/1 · principal	Add +38.8%	82,309,000	$79.1M
EXACT SCIENCES CORP (EXAS 0.375 03/01/28)	NOTE 0.375% 3/0 · principal	Add +20.0%	84,000,000	$76.9M
HEALTH CATALYST INC (HCAT 2.5 04/15/25)	NOTE 2.500% 4/1 · principal	Sold out	75,256,000	$76.0Mbefore exit
INFINERA CORP (INFN 3.75 08/01/28)	NOTE 3.750% 8/0 · principal	Sold out	58,000,000	$75.2Mbefore exit
JBT MAREL CORP (JBTM 0.25 05/15/26)	NOTE 0.250% 5/1 · principal	Add +2.7%	75,344,000	$75.0M
ITRON INC (ITRI 0 03/15/26)	NOTE 3/1 · principal	Reduce -13.3%	65,000,000	$73.5M
BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27)	NOTE 1.250% 5/1 · principal	New	77,575,000	$73.3M
INSULET CORPORATION (PODD 0.375 09/01/26)	NOTE 0.375% 9/0 · principal	Sold out	55,000,000	$71.2Mbefore exit
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27)	NOTE 1.000% 9/1 · principal	Add +210.1%	54,335,000	$70.9M
DATADOG INC (DDOG 0.125 06/15/25)	NOTE 0.125% 6/1 · principal	Sold out	63,105,000	$70.6Mbefore exit
STRIDE INC (LRN 1.125 09/01/27)	NOTE 1.125% 9/0 · principal	Reduce -4.3%	24,203,000	$67.5M
IMAX CORP (IMAX 0.5 04/01/26)	NOTE 0.500% 4/0 · principal	Reduce -14.4%	56,500,000	$63.7M
PROS HOLDINGS INC (PRO 2.5 07/01/30)	DEBT 2.500% 7/0 · principal	New	56,854,000	$61.4M
CINEMARK HOLDINGS INC (CNK 4.5 08/15/25)	NOTE 4.500% 8/1 · principal	Reduce -8.8%	28,250,000	$60.4M
ETSY INC (ETSY 0.125 09/01/27)	NOTE 0.125% 9/0 · principal	Add +11.5%	65,339,000	$58.5M
ETSY INC (ETSY 0.125 10/01/26)	NOTE 0.125%10/0 · principal	Add +629.2%	58,265,000	$56.6M
TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28)	NOTE 1.500% 6/0 · principal	New	31,405,000	$50.5M
EXPEDIA GROUP INC (EXPE 0 02/15/26)	NOTE 2/1 · principal	Add +11.1%	50,000,000	$48.8M
AIRBNB INC (ABNB 0 03/15/26)	NOTE 3/1 · principal	Reduce -48.7%	50,000,000	$48.2M
INSMED INC (INSM 0.75 06/01/28)	NOTE 0.750% 6/0 · principal	Sold out	20,000,000	$47.5Mbefore exit

Showing the first 50 of 143.

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