Zazove Associates LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Zazove Associates LLC reported 27 stock positions worth $54.5 million. Its top holding was Kayne Anderson Energy Infra (KYN) at 15.8% of the portfolio, followed by Braemar Hotels & Resorts (BHR, 11.5%) and CVR Partners (UAN, 10.8%). Compared with Q3 2024, it opened 4 new positions, sold out of 4, added to 4 and reduced 8. The biggest buy was a new position in Capri (CPRI) and the biggest sale an exit from Amprius Technologies (AMPX).
- Most Recent 13F
- Q2 2026
- Location
- INCLINE VILLAGE, NV
- CIK
- 0001009012
- Portfolio Value
- $54.5M (Q4 2024)
- SEC Filing
- 0001420506-25-000348 ↗ filed Feb 13, 2025
Holdings Value
Holdings 27 stocks · $54.5M
| KYN Kayne Anderson Energy Infra | 15.77% | 676,943 | $8.6M | No change |
| BHR Braemar Hotels & Resorts Inc. | 11.49% | 2,088,686 | $6.3M | Reduce -0.6% |
| UAN CVR Partners LP | 10.82% | 77,700 | $5.9M | No change |
| GRNT Granite Ridge Resources Inc. | 10.82% | 913,513 | $5.9M | Reduce -2.0% |
| WEST Westrock Coffee Co. | 10.28% | 873,079 | $5.6M | Reduce -1.4% |
| VUSB Vanguard Ultra Short Bond Et | 9.10% | 100,000 | $5.0M | No change |
| URBAN ONE INC | 7.59% | 4,158,977 | $4.1M | Add +14.0% |
| CCO Clear Channel Outdoor Holdin | 4.63% | 1,842,775 | $2.5M | No change |
| STKL Sunopta Inc. | 3.36% | 237,949 | $1.8M | Reduce -4.8% |
| GDL GDL Fund | 2.95% | 200,522 | $1.6M | No change |
| CMLSQ Cumulus Media Inc. Class A | 1.88% | 1,528,428 | $1.0M | Add +4.8% |
| OSISKO DEVELOPMENT CORP | 1.77% | 592,862 | $966K | Reduce -2.4% |
| THCH TH International Ltd./Cayman | 1.73% | 1,327,151 | $942K | Reduce -3.6% |
| URBAN ONE INC | 1.30% | 461,516 | $711K | Reduce -17.5% |
| SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY | 1.00% | 342,404 | $544K | No change |
| GROY Gold Royalty Corp. | 0.98% | 441,000 | $534K | Add +83.0% |
| CPRI Capri Holdings Ltd. | 0.97% | 25,000 | $527K | New |
| ASTS Ast Spacemobile Inc. | 0.78% | 20,200 | $426K | No change |
| BRC INC-A | 0.58% | 100,000 | $317K | No change |
| HDSN Hudson Technologies Inc. | 0.58% | 56,250 | $314K | No change |
| HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I | 0.52% | 30,400 | $283K | New |
| EQX Equinox Gold Corp. | 0.46% | 50,000 | $251K | New |
| HTZ Hertz Global Hldgs Inc. | 0.34% | 50,000 | $183K | Reduce -69.2% |
| ET Energy Transfer LP | 0.18% | 5,000 | $98K | No change |
| PEO Adams Natural Resources Fund | 0.08% | 1,901 | $41K | Add +4.5% |
| PFIX Simplify Interest Rate Hedge | 0.06% | 604 | $32K | No change |
| OPK Opko Health Inc. | 0.01% | 4,900 | $7K | New |
Other holdings (105): bonds, preferreds, convertibles and warrants · $984.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 63,390,000 | $72.2M | Add +0.1% |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 57,652,000 | $59.0M | Add +0.4% |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 49,225,000 | $48.6M | Reduce -23.8% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 47,290,000 | $48.5M | Add +14.3% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 48,367,000 | $47.2M | Add +42.1% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 42,500,000 | $44.4M | Reduce -5.9% |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 44,360,000 | $43.0M | Reduce -0.5% |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 35,784,000 | $41.9M | New |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | 42,116,000 | $38.9M | Reduce -1.8% |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 35,731,000 | $37.0M | Reduce -24.2% |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 31,230,000 | $33.3M | Add +71.1% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 28,715,000 | $29.5M | New |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 24,185,000 | $29.4M | Add +6.5% |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 22,445,000 | $24.4M | New |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 21,435,000 | $23.4M | Add +2.5% |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 21,100,000 | $23.0M | New |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 18,170,000 | $22.0M | Reduce -32.4% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 17,570,000 | $19.4M | New |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | 18,140,000 | $17.1M | No change |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 15,270,000 | $16.9M | Add +17.0% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 16,292,000 | $16.2M | Add +7770.5% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 15,200,000 | $16.0M | Add +1.3% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 14,760,000 | $14.9M | Reduce -33.6% |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | 12,596,000 | $13.9M | Add +22.3% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 12,200,000 | $13.0M | New |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | 11,315,000 | $12.0M | New |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | 10,990,000 | $11.4M | Add +339.6% |
| BROOKDALE SENIOR LIVING (BKD 2 10/15/26) | NOTE 2.000%10/1 · principal | 10,730,000 | $10.0M | No change |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 8,305,000 | $9.7M | Reduce -18.0% |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | 8,750,000 | $9.6M | Add +19.4% |
| VAREX IMAGING CORPORATIO (VREX 4 06/01/25) | NOTE 4.000% 6/0 · principal | 8,950,000 | $9.0M | Reduce -25.5% |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | 3,500,000 | $8.8M | No change |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | 9,200,000 | $8.6M | Reduce -5.0% |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 7,200,000 | $7.8M | New |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | 6,000,000 | $6.6M | New |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 5,565,000 | $6.5M | Reduce -5.0% |
| RUMBW Rumble Inc.-CW28 | *W EXP 09/16/202 | 1,070,642 | $5.4M | Reduce -4.1% |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | 4,000,000 | $5.3M | New |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 4,975,000 | $5.2M | No change |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 5,000,000 | $5.1M | No change |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 1,416,590 | $5.0M | Add +4.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 4,310,000 | $4.4M | Reduce -40.7% |
| BLOOM ENERGY CORP (BE 3 06/01/28) | NOTE 3.000% 6/0 · principal | 3,000,000 | $4.2M | No change |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | 2,500,000 | $3.9M | Reduce -12.9% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,500,000 | $3.3M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 3,000,000 | $3.2M | No change |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 2,490,000 | $3.1M | No change |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 2,500,000 | $2.6M | Add +30.9% |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | 2,000,000 | $2.5M | No change |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 2,070,000 | $2.5M | Add +23.9% |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | 2,530,000 | $2.5M | Reduce -37.2% |
| PAGERDUTY INC. (PD 1.25 07/01/25) | NOTE 1.250% 7/0 · principal | 2,500,000 | $2.4M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 2,500,000 | $2.4M | Add +25.0% |
| POST HOLDINGS INC (POST 2.5 08/15/27) | NOTE 2.500% 8/1 · principal | 2,000,000 | $2.3M | No change |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | 2,181,000 | $2.1M | Reduce -31.9% |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 2,000,000 | $2.1M | New |
| ALTAIR ENGINEERING INC (ALTR 1.75 06/15/27) | NOTE 1.750% 6/1 · principal | 1,250,000 | $1.9M | No change |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 1,140,000 | $1.8M | No change |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 2,000,000 | $1.8M | No change |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | 389,857 | $1.3M | Add +2.9% |
| SEA LTD (SEALTD 2.375 12/01/25) | NOTE 2.375%12/0 · principal | 870,000 | $1.1M | Reduce -47.9% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 1,000,000 | $1.0M | New |
| LUNRW Intuitive Machines Inc.-CW | *W EXP 99/99/999 | 118,000 | $927K | Add +9.3% |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | 815,000 | $785K | Reduce -94.9% |
| CUTERA INC (CUTR 4 06/01/29) | NOTE 4.000% 6/0 · principal | 7,775,000 | $737K | No change |
| CUTERA INC (CUTR 2.25 06/01/28) | NOTE 2.250% 6/0 · principal | 7,140,000 | $690K | No change |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 589,000 | $548K | No change |
| MIDDLEBY CORP (MIDD 1 09/01/25) | NOTE 1.000% 9/0 · principal | 350,000 | $392K | Reduce -97.4% |
| PACIRA BIOSCIENCES INC (PCRX 0.75 08/01/25) | NOTE 0.750% 8/0 · principal | 400,000 | $388K | No change |
| FIVE9 INC (FIVN 0.5 06/01/25) | NOTE 0.500% 6/0 · principal | 395,000 | $386K | No change |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 460,000 | $377K | No change |
| PENNYMAC CORP (PMT 5.5 03/15/26) | NOTE 5.500% 3/1 · principal | 382,000 | $375K | No change |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 400,000 | $374K | No change |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 394,000 | $370K | No change |
| GROUPON INC (GRPN 1.125 03/15/26) | NOTE 1.125% 3/1 · principal | 400,000 | $368K | New |
| OIL STATES INTL INC (OIS 4.75 04/01/26) | NOTE 4.750% 4/0 · principal | 375,000 | $368K | New |
| ESPERION THERAPEUTICS (ESPR 4 11/15/25) | NOTE 4.000%11/1 · principal | 375,000 | $363K | No change |
| HAEMONETICS CORP (HAE 0 03/01/26) | NOTE 3/0 · principal | 382,000 | $360K | No change |
| PSQH.WS Colombier Acq Class A -CW28 | *W EXP 07/19/202 | 448,492 | $348K | Add +65.7% |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 354,000 | $333K | No change |
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 353,000 | $328K | No change |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 349,000 | $325K | No change |
| ACHR.WS Archer Aviation Inc. -CW26 | *W EXP 09/16/202 | 100,000 | $321K | New |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 302,000 | $298K | No change |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 300,000 | $289K | No change |
| LSEAW Landsea Homes Corp.-CW23 | *W EXP 01/08/202 | 2,392,316 | $269K | Add +9.3% |
| CHEGG INC (CHGG 0 09/01/26) | NOTE 9/0 · principal | 314,000 | $258K | No change |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 272,000 | $247K | No change |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 9,266 | $228K | No change |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 242,000 | $225K | No change |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 158,000 | $151K | No change |
| T1 ENERGY INC | *W EXP 07/09/202 | 346,411 | $97K | No change |
| GCTS.WS Concord Acq Class A -CW28 | *W EXP 03/01/202 | 668,646 | $97K | No change |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 105,000 | $94K | No change |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 115,000 | $92K | New |
| LIBERTY INTERACTIVE LLC (LINTA 3.75 02/15/30) | DEB 3.750% 2/1 · principal | 220,000 | $73K | No change |
| CHEGG INC (CHGG 0.125 03/15/25) | NOTE 0.125% 3/1 · principal | 65,000 | $64K | No change |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 1,321 | $64K | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 1,334,846 | $49K | No change |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | 150,602 | $26K | 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 | $10K | No change |
| AIRJW Power & Digital Acq -CW24 | *W EXP 03/15/202 | 9,100 | $10K | No change |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 25,171 | $2K | No change |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | 64,571 | $2K | No change |
Total filed on the 13F, all lines: $1.0B.
Portfolio Sells Q3 2024 → Q4 2024
| AMPX Amprius Technologies Inc. | Sold out | 0.00% | −1.95 |
| HTZ Hertz Global Hldgs Inc. | Reduce -69.2% | 0.34% | −0.64 |
| OSISKO DEVELOPMENT CORP | Reduce -2.4% | 1.77% | −0.57 |
| URBAN ONE INC | Reduce -17.5% | 1.30% | −0.48 |
| THCH TH International Ltd./Cayman | Reduce -3.6% | 1.73% | −0.29 |
| BHR Braemar Hotels & Resorts Inc. | Reduce -0.6% | 11.49% | −0.28 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Sold out | 0.00% | −0.26 |
| SGOV iShares 0-3 Month Treasury B | Sold out | 0.00% | −0.25 |
| WEST Westrock Coffee Co. | Reduce -1.4% | 10.28% | −0.16 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −0.01 |
| STKL Sunopta Inc. | Reduce -4.8% | 3.36% | +0.47 |
| GRNT Granite Ridge Resources Inc. | Reduce -2.0% | 10.82% | +0.78 |
Portfolio Buys Q3 2024 → Q4 2024
| CPRI Capri Holdings Ltd. | New | 0.97% | +0.97 |
| HOS Hornbeck Offshore Services I | New | 0.52% | +0.52 |
| EQX Equinox Gold Corp. | New | 0.46% | +0.46 |
| GROY Gold Royalty Corp. | Add +83.0% | 0.98% | +0.38 |
| URBAN ONE INC | Add +14.0% | 7.59% | +0.25 |
| OPK Opko Health Inc. | New | 0.01% | +0.01 |
| PEO Adams Natural Resources Fund | Add +4.5% | 0.08% | −0.00 |
| CMLSQ Cumulus Media Inc. Class A | Add +4.8% | 1.88% | −1.59 |
Notes & Other Activity Q3 2024 → Q4 2024
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Add +0.1% | 63,390,000 | $72.2M |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | Add +0.4% | 57,652,000 | $59.0M |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Reduce -23.8% | 49,225,000 | $48.6M |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Add +14.3% | 47,290,000 | $48.5M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | Add +42.1% | 48,367,000 | $47.2M |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | Reduce -5.9% | 42,500,000 | $44.4M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -0.5% | 44,360,000 | $43.0M |
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | New | 35,784,000 | $41.9M |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | Reduce -1.8% | 42,116,000 | $38.9M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Reduce -24.2% | 35,731,000 | $37.0M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +71.1% | 31,230,000 | $33.3M |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | New | 28,715,000 | $29.5M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Add +6.5% | 24,185,000 | $29.4M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | New | 22,445,000 | $24.4M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Add +2.5% | 21,435,000 | $23.4M |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | New | 21,100,000 | $23.0M |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | Reduce -32.4% | 18,170,000 | $22.0M |
| JBT MAREL CORP (JBTM 0.25 05/15/26) | NOTE 0.250% 5/1 · principal | Sold out | 23,311,000 | $21.9Mbefore exit |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 17,570,000 | $19.4M |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | Add +17.0% | 15,270,000 | $16.9M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Add +7770.5% | 16,292,000 | $16.2M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Add +1.3% | 15,200,000 | $16.0M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Reduce -33.6% | 14,760,000 | $14.9M |
| EQUINOX GOLD CORP (EQXCN 4.75 10/15/28) | NOTE 4.750%10/1 · principal | Add +22.3% | 12,596,000 | $13.9M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | New | 12,200,000 | $13.0M |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | New | 11,315,000 | $12.0M |
| NCL CORPORATION LTD (NCLH 1.125 02/15/27) | NOTE 1.125% 2/1 · principal | Add +339.6% | 10,990,000 | $11.4M |
| NCL CORPORATION LTD (NCLH 5.375 08/01/25) | NOTE 5.375% 8/0 · principal | Sold out | 8,100,000 | $10.0Mbefore exit |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Reduce -18.0% | 8,305,000 | $9.7M |
| PENN ENTERTAINMENT INC (PENN 2.75 05/15/26) | NOTE 2.750% 5/1 · principal | Add +19.4% | 8,750,000 | $9.6M |
| VAREX IMAGING CORPORATIO (VREX 4 06/01/25) | NOTE 4.000% 6/0 · principal | Reduce -25.5% | 8,950,000 | $9.0M |
| CONMED CORP (CNMD 2.25 06/15/27) | NOTE 2.250% 6/1 · principal | Reduce -5.0% | 9,200,000 | $8.6M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | New | 7,200,000 | $7.8M |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | New | 6,000,000 | $6.6M |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Reduce -5.0% | 5,565,000 | $6.5M |
| CNX RESOURCES CORP (CNX 2.25 05/01/26) | NOTE 2.250% 5/0 · principal | Sold out | 2,500,000 | $6.4Mbefore exit |
| RUMBW Rumble Inc.-CW28 | *W EXP 09/16/202 | Reduce -4.1% | 1,070,642 | $5.4M |
| WESTERN DIGITAL CORP (WDC 3 11/15/28) | NOTE 3.000%11/1 · principal | New | 4,000,000 | $5.3M |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | Add +4.6% | 1,416,590 | $5.0M |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Reduce -40.7% | 4,310,000 | $4.4M |
| DATADOG INC (DDOG 0.125 06/15/25) | NOTE 0.125% 6/1 · principal | Reduce -12.9% | 2,500,000 | $3.9M |
| ZILLOW GROUP INC (Z 1.375 09/01/26) | NOTE 1.375% 9/0 · principal | Sold out | 2,500,000 | $3.7Mbefore exit |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | Add +30.9% | 2,500,000 | $2.6M |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | Add +23.9% | 2,070,000 | $2.5M |
| AIR TRANSPORT SERVICES G (ATSG 3.875 08/15/29) | NOTE 3.875% 8/1 · principal | Reduce -37.2% | 2,530,000 | $2.5M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | Add +25.0% | 2,500,000 | $2.4M |
| SUMMIT HOTEL PROPERTIES (INN 1.5 02/15/26) | NOTE 1.500% 2/1 · principal | Reduce -31.9% | 2,181,000 | $2.1M |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | New | 2,000,000 | $2.1M |
| CHEFS' WAREHOUSE THE (CHEF 1.875 12/01/24) | NOTE 1.875%12/0 · principal | Sold out | 1,313,000 | $1.4Mbefore exit |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | Add +2.9% | 389,857 | $1.3M |
Showing the first 50 of 68.
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 |