Zazove Associates LLC
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Zazove Associates LLC reported 27 stock positions worth $55.2 million. Its top holding was Kayne Anderson Energy Infra (KYN) at 13.5% of the portfolio, followed by Braemar Hotels & Resorts (BHR, 11.8%) and Westrock Coffee (WEST, 10.4%). Compared with Q2 2024, it opened 4 new positions, sold out of 5, added to 2 and reduced 12. The biggest buy was a new position in Westrock Coffee (WEST) and the biggest sale GDL Fund (GDL, shares −47%).
- Most Recent 13F
- Q2 2026
- Location
- INCLINE VILLAGE, NV
- CIK
- 0001009012
- Portfolio Value
- $55.2M (Q3 2024)
- SEC Filing
- 0001420506-24-002384 ↗ filed Nov 13, 2024
Holdings Value
Holdings 27 stocks · $55.2M
| KYN Kayne Anderson Energy Infra | 13.50% | 676,943 | $7.4M | Reduce -0.5% |
| BHR Braemar Hotels & Resorts Inc. | 11.77% | 2,101,511 | $6.5M | No change |
| WEST Westrock Coffee Co. | 10.43% | 885,589 | $5.8M | New |
| GRNT Granite Ridge Resources Inc. | 10.03% | 932,055 | $5.5M | Reduce -10.1% |
| UAN CVR Partners LP | 9.45% | 77,700 | $5.2M | No change |
| VUSB Vanguard Ultra Short Bond Et | 9.05% | 100,000 | $5.0M | No change |
| URBAN ONE INC | 7.34% | 3,647,063 | $4.0M | Add +5.0% |
| CCO Clear Channel Outdoor Holdin | 5.34% | 1,842,775 | $2.9M | Reduce -18.5% |
| CMLSQ Cumulus Media Inc. Class A | 3.46% | 1,458,428 | $1.9M | No change |
| GDL GDL Fund | 2.96% | 200,522 | $1.6M | Reduce -47.0% |
| STKL Sunopta Inc. | 2.89% | 250,000 | $1.6M | Reduce -47.1% |
| OSISKO DEVELOPMENT CORP | 2.34% | 607,152 | $1.3M | Reduce -2.9% |
| THCH TH International Ltd./Cayman | 2.02% | 1,376,465 | $1.1M | No change |
| AMPX Amprius Technologies Inc. | 1.95% | 969,931 | $1.1M | Reduce -12.2% |
| URBAN ONE INC | 1.78% | 559,561 | $985K | Reduce -0.2% |
| HTZ Hertz Global Hldgs Inc. | 0.97% | 162,417 | $536K | No change |
| ASTS Ast Spacemobile Inc. | 0.96% | 20,200 | $528K | New |
| SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY | 0.89% | 342,404 | $493K | No change |
| HDSN Hudson Technologies Inc. | 0.85% | 56,250 | $469K | Reduce -55.0% |
| BRC INC-A | 0.62% | 100,000 | $342K | New |
| GROY Gold Royalty Corp. | 0.59% | 241,000 | $328K | New |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.26% | 1,535 | $141K | Reduce -65.9% |
| SGOV iShares 0-3 Month Treasury B | 0.25% | 1,350 | $136K | Reduce -67.1% |
| ET Energy Transfer LP | 0.15% | 5,000 | $80K | No change |
| PEO Adams Natural Resources Fund | 0.08% | 1,819 | $42K | Add +1.1% |
| PFIX Simplify Interest Rate Hedge | 0.04% | 604 | $25K | Reduce -94.9% |
| MIR Mirion Technologies Inc. | 0.01% | 461 | $5K | No change |
Other holdings (101): bonds, preferreds, convertibles and warrants · $880.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 63,320,000 | $77.1M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 64,625,000 | $66.3M | New |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 57,442,000 | $63.7M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 47,154,000 | $48.7M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 45,150,000 | $47.9M | Reduce -4.2% |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 42,876,000 | $46.0M | Reduce -3.0% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 41,390,000 | $43.9M | Add +10.5% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 44,600,000 | $43.7M | Reduce -3.4% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 34,030,000 | $34.6M | New |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 26,860,000 | $32.1M | Add +22.9% |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 22,704,000 | $27.8M | Reduce -2.1% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 22,230,000 | $24.6M | Add +29.0% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 20,905,000 | $22.1M | New |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | 23,311,000 | $21.9M | Reduce -2.1% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 18,250,000 | $18.2M | Add +204.2% |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | 18,140,000 | $17.0M | Add +0.6% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 15,000,000 | $16.7M | New |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 13,600,000 | $15.7M | Reduce -42.4% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 13,055,000 | $15.3M | Reduce -4.3% |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 15,865,000 | $15.0M | Reduce -49.3% |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 10,301,000 | $12.9M | New |
| VAREX IMAGING CORPORATIO (VREX 4 06/01/25) | NOTE 4.000% 6/0 · principal | 12,010,000 | $12.0M | No change |
| BROOKDALE SENIOR LIVING (BKD 2 10/15/26) | NOTE 2.000%10/1 · principal | 10,730,000 | $11.4M | No change |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 10,125,000 | $10.4M | Reduce -5.2% |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | 8,100,000 | $10.0M | Reduce -23.6% |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 9,685,000 | $9.0M | Reduce -4.6% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 7,325,000 | $7.9M | No change |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 7,270,000 | $7.3M | Reduce -82.7% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 5,855,000 | $6.7M | No change |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 3,500,000 | $6.5M | Reduce -23.9% |
| CNX RESOURCES CORP (CNX 2.25 05/01/26) | NOTE 2.250% 5/0 · principal | 2,500,000 | $6.4M | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 4,975,000 | $5.3M | No change |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 5,000,000 | $5.2M | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,500,000 | $3.9M | No change |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | 4,030,000 | $3.8M | New |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | 2,500,000 | $3.7M | No change |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 2,870,000 | $3.7M | No change |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 1,910,000 | $3.5M | No change |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 2,490,000 | $3.0M | New |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 3,201,000 | $3.0M | Add +3.2% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 2,000,000 | $3.0M | No change |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 3,000,000 | $2.8M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 3,000,000 | $2.7M | No change |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 2,500,000 | $2.4M | New |
| PAGERDUTY INC. (PD 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | 2,500,000 | $2.4M | No change |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 2,000,000 | $2.4M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 2,000,000 | $2.0M | Add +16.3% |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 1,670,000 | $2.0M | Add +13.6% |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 1,670,000 | $1.8M | No change |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 1,140,000 | $1.8M | No change |
| ALTAIR ENGINEERING INC (ALTR 1.75 06/15/27) | NOTE 1.750% 6/1 · principal | 1,250,000 | $1.8M | No change |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 2,000,000 | $1.8M | No change |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 1,354,413 | $1.7M | Add +7.6% |
| CUTERA INC (CUTR 4 06/01/29) | NOTE 4.000% 6/0 · principal | 7,775,000 | $1.4M | No change |
| CHEFS' WAREHOUSE THE (CHEF 1.875 12/01/24) | NOTE 1.875%12/0 · principal | 1,313,000 | $1.4M | No change |
| RUMBW Rumble Inc.-CW28 | *W EXP 09/16/202 | 1,116,370 | $1.3M | Add +0.0% |
| PENGUIN SOLUTIONS CAYMEN (PENG 2.25 02/15/26) | NOTE 2.250% 2/1 · principal | 1,000,000 | $1.2M | No change |
| CUTERA INC (CUTR 2.25 06/01/28) | NOTE 2.250% 6/0 · principal | 7,140,000 | $1.2M | No change |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | 378,757 | $1.1M | Add +10.2% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 600,000 | $621K | Reduce -95.9% |
| SMR.WS Nuscale Power Co. -CW27 | *W EXP 05/02/202 | 191,131 | $614K | Add +31.0% |
| LSEAW Landsea Homes Corp.-CW23 | *W EXP 01/08/202 | 2,189,616 | $602K | Reduce -0.2% |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 589,000 | $540K | Add +20.4% |
| ENVESTNET INC (ENV 0.75 08/15/25) | 0.75 8/15/2025 · principal | 425,000 | $419K | New |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 400,000 | $382K | Add +33.3% |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | 395,000 | $382K | Add +31.7% |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 400,000 | $374K | New |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 382,000 | $372K | Add +33.1% |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 460,000 | $368K | New |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 394,000 | $367K | New |
| ESPERION THERAPEUTICS (ESPR 4 11/15/25) | NOTE 4.000%11/1 · principal | 375,000 | $357K | New |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 382,000 | $355K | Add +1636.4% |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 354,000 | $326K | Add +42.2% |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 353,000 | $323K | Add +42.3% |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 349,000 | $323K | Add +40.2% |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 302,000 | $295K | Add +45.9% |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 300,000 | $286K | Reduce -90.8% |
| LUNRW Intuitive Machines Inc.-CW | *W EXP 99/99/999 | 108,000 | $268K | New |
| ARKOW Arko Corp. -CW25 | *W EXP 12/22/202 | 483,780 | $250K | Add +3.6% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 272,000 | $246K | Add +62.9% |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 9,266 | $242K | No change |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 314,000 | $239K | Add +57.8% |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 242,000 | $225K | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 207,000 | $198K | No change |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 158,000 | $149K | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 105,000 | $93K | New |
| GCTS.WS Concord Acq Class A -CW28 | *W EXP 03/01/202 | 668,646 | $87K | No change |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 220,000 | $77K | No change |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 1,321 | $64K | Add +204.4% |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 65,000 | $62K | New |
| FORUM ENERGY TECHNOLOGIE (FET 9 08/04/25) | NOTE 9.000% 8/0 · principal | 57,232 | $56K | Reduce -49.5% |
| PSQH.WS Colombier Acq Class A -CW28 | *W EXP 07/19/202 | 270,640 | $50K | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 1,334,846 | $34K | No change |
| T1 ENERGY INC | *W EXP 07/09/202 | 346,411 | $25K | No change |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 10,000 | $17K | No change |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | 150,602 | $13K | No change |
| JSPRW Jasper Therapeutics Inc.-CW26 | *W EXP 09/24/202 | 65,456 | $12K | No change |
| PSEWF Paysafe Ltd. -CW26 | *W EXP 03/30/202 | 399,748 | $9K | No change |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 25,171 | $7K | No change |
| AIRJW Power & Digital Acq -CW24 | *W EXP 03/15/202 | 9,100 | $4K | No change |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | 64,571 | $3K | No change |
Total filed on the 13F, all lines: $935.2M.
Portfolio Sells Q2 2024 → Q3 2024
| GDL GDL Fund | Reduce -47.0% | 2.96% | −2.28 |
| STKL Sunopta Inc. | Reduce -47.1% | 2.89% | −1.62 |
| GRNT Granite Ridge Resources Inc. | Reduce -10.1% | 10.03% | −1.56 |
| HDSN Hudson Technologies Inc. | Reduce -55.0% | 0.85% | −1.09 |
| NCMI National Cinemedia Inc. | Sold out | 0.00% | −1.01 |
| PFIX Simplify Interest Rate Hedge | Reduce -94.9% | 0.04% | −0.96 |
| BFLY Butterfly Network Inc. | Sold out | 0.00% | −0.83 |
| AMPX Amprius Technologies Inc. | Reduce -12.2% | 1.95% | −0.53 |
| SGOV iShares 0-3 Month Treasury B | Reduce -67.1% | 0.25% | −0.48 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -65.9% | 0.26% | −0.47 |
| TCSGQ Container Store Group Inc. | Sold out | 0.00% | −0.45 |
| CCO Clear Channel Outdoor Holdin | Reduce -18.5% | 5.34% | −0.29 |
| URBAN ONE INC | Reduce -0.2% | 1.78% | −0.19 |
| WFRD Weatherford International PL | Sold out | 0.00% | −0.10 |
| POLESTAR AUTOMOTIVE HLDG UK | Sold out | 0.00% | −0.01 |
| OSISKO DEVELOPMENT CORP | Reduce -2.9% | 2.34% | +0.29 |
| KYN Kayne Anderson Energy Infra | Reduce -0.5% | 13.50% | +1.07 |
Portfolio Buys Q2 2024 → Q3 2024
Notes & Other Activity Q2 2024 → Q3 2024
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | New | 64,625,000 | $66.3M |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | New | 57,442,000 | $63.7M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -4.2% | 45,150,000 | $47.9M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Sold out | 47,620,000 | $46.6Mbefore exit |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | Reduce -3.0% | 42,876,000 | $46.0M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +10.5% | 41,390,000 | $43.9M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -3.4% | 44,600,000 | $43.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | New | 34,030,000 | $34.6M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Add +22.9% | 26,860,000 | $32.1M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -2.1% | 22,704,000 | $27.8M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Add +29.0% | 22,230,000 | $24.6M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | New | 20,905,000 | $22.1M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Sold out | 20,430,000 | $22.0Mbefore exit |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Reduce -2.1% | 23,311,000 | $21.9M |
| ENVISTA HOLDINGS CORP (NVST 2.375 06/01/25) | NOTE 2.375% 6/0 · principal | Sold out | 18,752,000 | $19.1Mbefore exit |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +204.2% | 18,250,000 | $18.2M |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | Add +0.6% | 18,140,000 | $17.0M |
| PETIQ INC (PETQ 4 06/01/26) | NOTE 4.000% 6/0 · principal | Sold out | 15,885,000 | $17.0Mbefore exit |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | New | 15,000,000 | $16.7M |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | Reduce -42.4% | 13,600,000 | $15.7M |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | Reduce -4.3% | 13,055,000 | $15.3M |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | Reduce -49.3% | 15,865,000 | $15.0M |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | New | 10,301,000 | $12.9M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Reduce -5.2% | 10,125,000 | $10.4M |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Reduce -23.6% | 8,100,000 | $10.0M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Reduce -4.6% | 9,685,000 | $9.0M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Sold out | 9,085,000 | $8.6Mbefore exit |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Reduce -82.7% | 7,270,000 | $7.3M |
| WESTW Westrock Coffee Holdings- 27 | *W EXP 08/29/202 | Sold out | 3,063,529 | $6.6Mbefore exit |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | Reduce -23.9% | 3,500,000 | $6.5M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 4,185,000 | $4.2Mbefore exit |
| INNOVATE CORP (VATE 7.5 08/01/26 *) | NOTE 7.500% 8/0 · principal | Sold out | 11,643,000 | $4.0Mbefore exit |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | New | 4,030,000 | $3.8M |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | New | 2,490,000 | $3.0M |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | Add +3.2% | 3,201,000 | $3.0M |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | Sold out | 3,130,000 | $2.8Mbefore exit |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Sold out | 3,270,000 | $2.5Mbefore exit |
| ETSY INC (ETSY 0.125 10/01/26) | NOTE 0.125%10/0 · principal | Sold out | 2,500,000 | $2.5Mbefore exit |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | New | 2,500,000 | $2.4M |
| DJTWW Trump Media & Technology Gro | *W EXP 03/25/202 | Sold out | 101,190 | $2.1Mbefore exit |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +16.3% | 2,000,000 | $2.0M |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | Add +13.6% | 1,670,000 | $2.0M |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | Add +7.6% | 1,354,413 | $1.7M |
| RUMBW Rumble Inc.-CW28 | *W EXP 09/16/202 | Add +0.0% | 1,116,370 | $1.3M |
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | Sold out | 440,617 | $1.1Mbefore exit |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | Add +10.2% | 378,757 | $1.1M |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | Sold out | 800,000 | $1.1Mbefore exit |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Sold out | 1,000,000 | $789Kbefore exit |
| IMAX CORP (IMAX 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | Sold out | 750,000 | $703Kbefore exit |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -95.9% | 600,000 | $621K |
Showing the first 50 of 79.
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 | 27 | $36.7M | VUSB, BHR, WEST, UONEK, GRNT |
| Q1 2026Amended | 35 | $55.0M | SPSB, KYN, VUSB, UAN, GRNT |
| Q4 2025 | 48 | $55.6M | BHR, KYN, VUSB, URBAN ONE INC, UAN |
| Q3 2025 | 30 | $44.4M | BHR, VUSB, KYN, URBAN ONE INC, UAN |
| Q2 2025Amended | 27 | $48.7M | UAN, KYN, GRNT, BHR, VUSB |
| Q1 2025 | 28 | $54.6M | SPSB, KYN, WEST, BHR, VUSB |
| Q4 2024 | 27 | $54.5M | KYN, BHR, UAN, GRNT, WEST |
| Q3 2024 | 27 | $55.2M | KYN, BHR, WEST, GRNT, UAN |
| Q2 2024Amended | 28 | $56.6M | KYN, GRNT, UAN, BHR, URBAN ONE INC |
| Q1 2024Amended | 30 | $64.3M | KYN, URBAN ONE INC, GRNT, UAN, CMLSQ |