Zazove Associates LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed June 18, 2026), Zazove Associates LLC reported 35 stock positions worth $55.0 million. Its top holding was SS SPDR P St C Corp. ETF (SPSB) at 10.9% of the portfolio, followed by Kayne Anderson Energy Infra (KYN, 10.8%) and Vanguard Ultra Short Bond Et (VUSB, 9.1%). Compared with Q4 2025, it opened 9 new positions, sold out of 22, added to 8 and reduced 7. The biggest buy was a new position in SS SPDR P St C Corp. ETF (SPSB) and the biggest sale an exit from Clear Channel Outdoor Holdin (CCO).
- Most Recent 13F
- Q2 2026
- Location
- INCLINE VILLAGE, NV
- CIK
- 0001009012
- Portfolio Value
- $55.0M (Q1 2026)
- SEC Filing
- 0001420506-26-001189 ↗ filed Jun 18, 2026
Holdings Value
Holdings 35 stocks · $55.0M
| SPSB SS SPDR P St C Corp. ETF | 10.93% | 200,000 | $6.0M | New |
| KYN Kayne Anderson Energy Infra | 10.77% | 414,961 | $5.9M | No change |
| VUSB Vanguard Ultra Short Bond Et | 9.05% | 100,000 | $5.0M | No change |
| UAN CVR Partners LP | 8.88% | 38,578 | $4.9M | Reduce -1.9% |
| GRNT Granite Ridge Resources Inc. | 7.40% | 692,956 | $4.1M | Add +1.4% |
| BHR Braemar Hotels & Resorts Inc. | 7.28% | 1,696,293 | $4.0M | Reduce -30.3% |
| UONEK Urban One Inc. | 5.14% | 508,316 | $2.8M | No change |
| WEST Westrock Coffee Co. | 4.33% | 560,004 | $2.4M | Reduce -5.7% |
| ASA ASA Gold and Precious Metals | 3.68% | 32,655 | $2.0M | Add +3.2% |
| LUXE Luxexperience BV | 2.91% | 200,374 | $1.6M | No change |
| BRC INC-A | 2.82% | 2,000,000 | $1.6M | Add +270.8% |
| REAL The Realreal Inc. filed as THE REALREAL INC | 2.64% | 160,000 | $1.5M | Add +68.4% |
| BKV BKV Corporation | 2.59% | 50,000 | $1.4M | New |
| NCMI National Cinemedia Inc. | 2.54% | 458,939 | $1.4M | Add +78.3% |
| MNTN MNTN Inc. Class A | 2.40% | 150,322 | $1.3M | Add +18.7% |
| BKD Brookdale Senior Living Inc. | 2.36% | 95,000 | $1.3M | Reduce -26.9% |
| GROY Gold Royalty Corp. | 1.95% | 300,000 | $1.1M | Reduce -10.4% |
| GDL GDL Fund | 1.83% | 120,522 | $1.0M | No change |
| OSISKO DEVELOPMENT CORP | 1.54% | 260,000 | $845K | No change |
| PRCH Porch Group Inc. | 1.38% | 105,846 | $759K | New |
| AB Alliancebernstein Holding LP | 1.25% | 18,300 | $685K | New |
| SVM Silvercorp Metals Inc. | 0.98% | 50,000 | $537K | Add +44.9% |
| USAS Americas Gold and Silver Cor | 0.95% | 100,000 | $522K | No change |
| TE T1 Energy Inc. | 0.80% | 100,000 | $439K | New |
| THCH TH International Ltd./Cayman | 0.78% | 208,489 | $429K | Reduce -8.7% |
| BTG B2GOLD Corp. | 0.61% | 74,600 | $338K | New |
| HDSN Hudson Technologies Inc. | 0.53% | 50,000 | $294K | No change |
| UONE Urban One Inc. | 0.46% | 43,004 | $252K | Reduce -0.4% |
| OPK Opko Health Inc. | 0.31% | 150,000 | $171K | No change |
| SVOL Simplify Volatility Premium | 0.30% | 10,900 | $167K | New |
| PCT Purecycle Technologies Inc. | 0.24% | 25,869 | $134K | No change |
| ET Energy Transfer LP | 0.18% | 5,000 | $97K | No change |
| WHR Whirlpool Corp. | 0.10% | 1,000 | $54K | New |
| PEO Adams Natural Resources Fund | 0.05% | 968 | $27K | Add +1.9% |
| GIS General Mills Inc. | 0.02% | 300 | $11K | New |
Options reported separately and not counted above: B2GOLD CORP calls ($833K), GENESIS ENERGY L P calls ($438K), GOLDMAN SACHS GROUP INC calls ($311K), CVR ENERGY INC puts ($263K), ALLIANCEBERNSTEIN HLDG L P calls ($150K), BATH & BODY WORKS INC calls ($90K), SOFI TECHNOLOGIES INC calls ($72K), PBF ENERGY INC puts ($68K), HERTZ GLOBAL HLDGS INC calls ($36K), STATE STR SPDR S&P 500 ETF T puts ($25K), SPDR SERIES TRUST puts ($20K), WHIRLPOOL CORP calls ($2K).
Other holdings (103): bonds, preferreds, convertibles and warrants · $899.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | 58,880,000 | $61.9M | Add +3.5% |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | 62,237,000 | $61.6M | Add +5.1% |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | 40,315,000 | $49.3M | Add +1.0% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 40,000,000 | $48.3M | New |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 43,295,000 | $43.5M | Add +27.9% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 35,665 | $42.5M | Add +356.3% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 27,880,000 | $32.7M | No change |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | 26,942,000 | $32.3M | Add +42.2% |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 28,550,000 | $31.7M | No change |
| NUTANIX INC (NTNX 0.25 10/01/27) | NOTE 0.250%10/0 · principal | 30,975,000 | $31.6M | No change |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | 29,585,000 | $29.5M | Add +16.9% |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | 28,520,000 | $28.1M | Add +43.9% |
| REPLIGEN CORP (RGEN 1 12/15/28) | NOTE 1.000%12/1 · principal | 26,300,000 | $25.6M | No change |
| BROOKDALE SENIOR LIVING (BKD 2 10/15/26) | NOTE 2.000%10/1 · principal | 14,350,000 | $24.5M | No change |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 17,025,000 | $23.0M | Reduce -1.4% |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | 18,783,000 | $22.3M | Add +21.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | 15,635,000 | $22.1M | Reduce -32.4% |
| CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) | NOTE 2.000% 3/1 · principal | 20,670,000 | $21.1M | New |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | 20,875,000 | $19.9M | Reduce -1.9% |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | 18,500,000 | $18.7M | Add +428.6% |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | 17,020,000 | $16.9M | Reduce -2.5% |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | 13,401,000 | $14.8M | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 15,460,000 | $13.6M | Reduce -8.8% |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | 11,138,000 | $13.2M | New |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | 10,000,000 | $11.8M | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 10,555,000 | $10.5M | Add +23.4% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 8,290,000 | $9.1M | Reduce -86.4% |
| JOBY AVIATION INC (JOBY 0.75 02/15/32) | NOTE 0.750% 2/1 · principal | 9,630,000 | $8.2M | New |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 5,153,000 | $7.7M | Reduce -87.8% |
| OPKO HEALTH INC (OPK 3.75 01/15/29) | NOTE 3.750% 1/1 · principal | 5,918,000 | $7.5M | No change |
| VERTEX INC (VERX 0.75 05/01/29) | NOTE 0.750% 5/0 · principal | 8,095,000 | $7.0M | No change |
| FRESHPET INC (FRPT 3 04/01/28) | NOTE 3.000% 4/0 · principal | 5,770,000 | $6.7M | No change |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | 5,950,000 | $6.3M | New |
| PG&E CORP (PCG 4.25 12/01/27) | NOTE 4.250%12/0 · principal | 6,000,000 | $6.2M | No change |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | 5,000,000 | $6.1M | New |
| WORLD KINECT GROUP (WKC 3.25 07/01/28) | NOTE 3.250% 7/0 · principal | 5,095,000 | $5.4M | No change |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | 5,000,000 | $5.4M | Add +25.0% |
| AFFIRM HOLDINGS INC (AFRM 0.75 12/15/29) | NOTE 0.750%12/1 · principal | 4,500,000 | $4.2M | No change |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | 2,500,000 | $4.1M | Reduce -93.9% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 4,000,000 | $3.9M | No change |
| SNOWFLAKE INC (SNOW 0 10/01/29) | NOTE 10/0 · principal | 2,965,000 | $3.6M | No change |
| SUPER MICRO COMPUTER INC (SMCI 2.25 07/15/28) | NOTE 2.250% 7/1 · principal | 4,000,000 | $3.4M | New |
| LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) | NOTE 2.250% 8/1 · principal | 2,920,000 | $3.4M | No change |
| TRANSMEDICS GROUP INC (TMDX 1.5 06/01/28) | NOTE 1.500% 6/0 · principal | 2,500,000 | $3.2M | No change |
| FLUENCE ENERGY INC (FLNC 2.25 06/15/30) | NOTE 2.250% 6/1 · principal | 3,000,000 | $3.0M | Add +50.0% |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 2,500,000 | $3.0M | No change |
| DATADOG INC (DDOG 0 12/01/29) | NOTE 12/0 · principal | 2,800,000 | $2.7M | No change |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | 2,810,000 | $2.6M | Add +368.3% |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 2,105,000 | $2.4M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 1,950,000 | $2.3M | New |
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | 149,113 | $2.2M | Add +3.5% |
| GROUPON INC (GRPN 6.25 03/15/27 *) | NOTE 6.250% 3/1 · principal | 2,000,000 | $2.0M | No change |
| UPSTART HOLDINGS INC (UPST 1 11/15/30) | NOTE 1.000%11/1 · principal | 2,500,000 | $1.8M | No change |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | 1,747,000 | $1.6M | New |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | 1,550,000 | $1.6M | Reduce -53.0% |
| ASCENDIS PHARMA A/S (ASND 2.25 04/01/28) | NOTE 2.250% 4/0 · principal | 1,050,000 | $1.5M | No change |
| INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30) | DBCV 1.875% 3/1 · principal | 1,565,000 | $1.5M | New |
| NCL CORPORATION LTD (NCLH 2.5 02/15/27) | NOTE 2.500% 2/1 · principal | 1,500,000 | $1.5M | No change |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | 1,350,000 | $1.4M | New |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | 1,100,000 | $1.2M | Reduce -90.2% |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | 1,500,000 | $1.2M | Reduce -77.0% |
| RUMBW Rumble Inc.-CW28 | *W EXP 09/16/202 | 1,146,276 | $1.2M | Add +1.4% |
| JD.COM INC (JD 0.25 06/01/29) | NOTE 0.250% 6/0 · principal | 1,130,000 | $1.1M | Reduce -47.0% |
| NNAVW Nextnav Inc. | *W EXP 99/99/999 | 170,655 | $1.1M | No change |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | 22,500 | $926K | New |
| BANDWIDTH INC (BAND 0.5 04/01/28) | NOTE 0.500% 4/0 · principal | 630,000 | $564K | No change |
| IRONWOOD PHARMACEUTICALS (IRWD 1.5 06/15/26) | NOTE 1.500% 6/1 · principal | 550,000 | $542K | No change |
| AMPX.WS Amprius Technologies Inc. | *W EXP 09/14/202 | 77,096 | $530K | Add +24.6% |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | 655,812 | $508K | Add +14.0% |
| LITHIUM ARGENTINA AG (LARCN 1.75 01/15/27) | NOTE 1.750% 1/1 · principal | 460,000 | $444K | Reduce -8.0% |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 1,538,612 | $429K | No change |
| SNAP INC (SNAP 0.125 03/01/28) | NOTE 0.125% 3/0 · principal | 460,000 | $420K | No change |
| MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) | NOTE 3.250%12/1 · principal | 420,000 | $404K | New |
| REDFIN CORP (RDFN 0.5 04/01/27) | NOTE 0.500% 4/0 · principal | 420,000 | $401K | No change |
| ZIFF DAVIS INC (ZD 3.625 03/01/28) | DEBT 3.625% 3/0 · principal | 404,000 | $397K | No change |
| CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) | NOTE 0.625% 6/1 · principal | 400,000 | $395K | No change |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | NOTE 5.500% 3/1 · principal | 385,000 | $384K | No change |
| CERENCE INC (CRNC 1.5 07/01/28) | NOTE 1.500% 7/0 · principal | 375,000 | $327K | New |
| ACHR.WS Archer Aviation Inc. -CW26 | *W EXP 09/16/202 | 1,190,265 | $323K | Add +19.4% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 300,000 | $269K | No change |
| STRATEGY INC (MSTR 0 12/01/29) | NOTE 12/0 · principal | 310,000 | $260K | New |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 220 | $254K | No change |
| BENTLEY SYSTEMS (BSY 0.375 07/01/27) | NOTE 0.375% 7/0 · principal | 260,000 | $248K | New |
| AFFIRM HOLDINGS INC (AFRM 0 11/15/26) | NOTE 11/1 · principal | 255,000 | $247K | New |
| CABLE ONE INC (CABO 1.125 03/15/28) | NOTE 1.125% 3/1 · principal | 310,000 | $241K | No change |
| OKTA INC (OKTA 0.375 06/15/26) | NOTE 0.375% 6/1 · principal | 242,000 | $240K | No change |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 9,266 | $226K | No change |
| OPFI.WS Oppfi Inc. -CW26 | *W EXP 07/20/202 | 1,560,914 | $199K | Add +71.6% |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 5,571 | $169K | Add +86.8% |
| NUTANIX INC (NTNX 0.5 12/15/29) | NOTE 0.500%12/1 · principal | 150,000 | $136K | No change |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 115,000 | $115K | No change |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 75,000 | $98K | New |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 84,000 | $82K | No change |
| COINBASE GLOBAL INC (COIN 0.5 06/01/26) | NOTE 0.500% 6/0 · principal | 65,000 | $65K | Reduce -67.5% |
| EL PASO ENERGY CAP TRST (KMI 4.75 03/31/28) | PFD CV TR SEC 28 | 1,121 | $57K | No change |
| BROOKDALE SR LIVING INC | NOTE 3.500%10/1 · principal | 30,000 | $50K | Reduce -40.0% |
| IAUX.WS I-80 Gold Corp. -26 | *W EXP 11/16/202 | 38,466 | $46K | New |
| PSQH.WS Colombier Acq Class A -CW28 | *W EXP 07/19/202 | 491,935 | $21K | No change |
| RDZNW Vahanna Tech Edge -CW24 | *W EXP 11/30/202 | 150,602 | $20K | No change |
| LANWF Lanvin Group Holdings Ltd.-27 | *W EXP 01/14/202 | 1,334,846 | $16K | No change |
| AIRJW Power & Digital Acq -CW24 | *W EXP 03/15/202 | 15,700 | $9K | No change |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 11,327 | $3K | Reduce -55.0% |
| AIIOW NWTN Inc. -CW27 | *W EXP 11/11/202 | 64,571 | $1K | No change |
Total filed on the 13F, all lines: $954.7M.
Portfolio Sells Q4 2025 → Q1 2026
| CCO Clear Channel Outdoor Holdin | Sold out | 0.00% | −5.41 |
| BHR Braemar Hotels & Resorts Inc. | Reduce -30.3% | 7.28% | −5.28 |
| B2GOLD CORP | Sold out | 0.00% | −2.23 |
| STKL Sunopta Inc. | Sold out | 0.00% | −1.88 |
| RYDER SYS INC | Sold out | 0.00% | −0.84 |
| GENESIS ENERGY L P | Sold out | 0.00% | −0.79 |
| PBF ENERGY INC | Sold out | 0.00% | −0.58 |
| DELEK US HLDGS INC NEW | Sold out | 0.00% | −0.57 |
| GE VERNOVA INC | Sold out | 0.00% | −0.54 |
| SYM Symbotic Inc. | Sold out | 0.00% | −0.54 |
| GROY Gold Royalty Corp. | Reduce -10.4% | 1.95% | −0.48 |
| BKV CORP | Sold out | 0.00% | −0.43 |
| ALLIANCEBERNSTEIN HLDG L P | Sold out | 0.00% | −0.43 |
| ISHARES INC | Sold out | 0.00% | −0.39 |
| UONE Urban One Inc. | Reduce -0.4% | 0.46% | −0.35 |
| SYMBOTIC INC | Sold out | 0.00% | −0.30 |
| UL SOLUTIONS INC | Sold out | 0.00% | −0.26 |
| 10X GENOMICS INC | Sold out | 0.00% | −0.25 |
| THCH TH International Ltd./Cayman | Reduce -8.7% | 0.78% | −0.24 |
| EQUINOX GOLD CORP | Sold out | 0.00% | −0.18 |
| BKD Brookdale Senior Living Inc. | Reduce -26.9% | 2.36% | −0.16 |
| PARSONS CORP DEL | Sold out | 0.00% | −0.15 |
| SILVERCORP METALS INC | Sold out | 0.00% | −0.14 |
| HILTON WORLDWIDE HLDGS INC | Sold out | 0.00% | −0.14 |
| GENERAL MILLS INC | Sold out | 0.00% | −0.08 |
| STATE STR SPDR S&P 500 ETF T | Sold out | 0.00% | −0.06 |
| CARVANA CO | Sold out | 0.00% | −0.02 |
| WEST Westrock Coffee Co. | Reduce -5.7% | 4.33% | −0.02 |
| UAN CVR Partners LP | Reduce -1.9% | 8.88% | +1.63 |
Portfolio Buys Q4 2025 → Q1 2026
| SPSB SS SPDR P St C Corp. ETF | New | 10.93% | +10.93 |
| BKV BKV Corporation | New | 2.59% | +2.59 |
| BRC INC-A | Add +270.8% | 2.82% | +1.75 |
| GRNT Granite Ridge Resources Inc. | Add +1.4% | 7.40% | +1.62 |
| PRCH Porch Group Inc. | New | 1.38% | +1.38 |
| AB Alliancebernstein Holding LP | New | 1.25% | +1.25 |
| TE T1 Energy Inc. | New | 0.80% | +0.80 |
| NCMI National Cinemedia Inc. | Add +78.3% | 2.54% | +0.74 |
| BTG B2GOLD Corp. | New | 0.61% | +0.61 |
| SVM Silvercorp Metals Inc. | Add +44.9% | 0.98% | +0.46 |
| SVOL Simplify Volatility Premium | New | 0.30% | +0.30 |
| ASA ASA Gold and Precious Metals | Add +3.2% | 3.68% | +0.29 |
| WHR Whirlpool Corp. | New | 0.10% | +0.10 |
| GIS General Mills Inc. | New | 0.02% | +0.02 |
| PEO Adams Natural Resources Fund | Add +1.9% | 0.05% | +0.01 |
| REAL The Realreal Inc. | Add +68.4% | 2.64% | −0.06 |
| MNTN MNTN Inc. Class A | Add +18.7% | 2.40% | −0.31 |
Options Activity Q4 2025 → Q1 2026
| B2GOLD CORP | call | New | 803,600 | $833K |
| GENESIS ENERGY L P | call | New | 133,800 | $438K |
| GOLDMAN SACHS GROUP INC | call | New | 5,000 | $311K |
| CVR ENERGY INC | put | New | 100,000 | $263K |
| ALLIANCEBERNSTEIN HLDG L P | call | New | 50,000 | $150K |
| BATH & BODY WORKS INC | call | New | 50,000 | $90K |
| SOFI TECHNOLOGIES INC | call | New | 50,000 | $72K |
| PBF ENERGY INC | put | New | 40,000 | $68K |
| HERTZ GLOBAL HLDGS INC | call | New | 50,000 | $36K |
| STATE STR SPDR S&P 500 ETF T | put | New | 6,000 | $25K |
| SPDR SERIES TRUST | put | New | 32,000 | $20K |
| WHIRLPOOL CORP | call | New | 30,000 | $2K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| TETRA TECH INC (TTEK 2.25 08/15/28) | DBCV 2.250% 8/1 · principal | Add +3.5% | 58,880,000 | $61.9M |
| TYLER TECHNOLOGIES INC (TYL 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 60,945,000 | $61.8Mbefore exit |
| PARSONS CORP (PSN 2.625 03/01/29) | NOTE 2.625% 3/0 · principal | Add +5.1% | 62,237,000 | $61.6M |
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Sold out | 49,276,000 | $56.1Mbefore exit |
| FLUOR CORP (FLR 1.125 08/15/29) | NOTE 1.125% 8/1 · principal | Add +1.0% | 40,315,000 | $49.3M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 40,000,000 | $48.3M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | Add +27.9% | 43,295,000 | $43.5M |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Add +356.3% | 35,665 | $42.5M |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | MTNF 0.600% 5/2 · principal | Add +42.2% | 26,942,000 | $32.3M |
| GUIDEWIRE SOFTWARE INC (GWRE 1.25 11/01/29) | NOTE 1.250%11/0 · principal | Add +16.9% | 29,585,000 | $29.5M |
| SSR MINING INC (SSRMCN 2.5 04/01/39) | NOTE 2.500% 4/0 · principal | Sold out | 21,755,000 | $28.6Mbefore exit |
| AEROVIRONMENT INC (AVAV 0 07/15/30) | NOTE 7/1 · principal | Add +43.9% | 28,520,000 | $28.1M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | Reduce -1.4% | 17,025,000 | $23.0M |
| VARONIS SYSTEM INC (VRNS 1 09/15/29) | NOTE 1.000% 9/1 · principal | Sold out | 23,985,000 | $22.3Mbefore exit |
| INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) | NOTE 2.125% 2/1 · principal | Add +21.6% | 18,783,000 | $22.3M |
| JAZZ INVESTMENTS I LTD (JAZZ 3.125 09/15/30) | NOTE 3.125% 9/1 · principal | Reduce -32.4% | 15,635,000 | $22.1M |
| CHEESECAKE FACTORY (THE) (CAKE 2 03/15/30) | NOTE 2.000% 3/1 · principal | New | 20,670,000 | $21.1M |
| HAEMONETICS CORP (HAE 2.5 06/01/29) | NOTE 2.500% 6/0 · principal | Reduce -1.9% | 20,875,000 | $19.9M |
| LYFT INC (LYFT 0.625 03/01/29) | NOTE 0.625% 3/0 · principal | Add +428.6% | 18,500,000 | $18.7M |
| BRAEMAR HOTELS & RESORTS (BHR 4.5 06/01/26) | NOTE 4.500% 6/0 · principal | Reduce -2.5% | 17,020,000 | $16.9M |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | Reduce -8.8% | 15,460,000 | $13.6M |
| THE REALREAL INC (REAL 4 02/15/31) | DEBT 4.000% 2/1 · principal | New | 11,138,000 | $13.2M |
| GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) | NOTE 3.250% 6/1 · principal | Sold out | 8,175,000 | $13.1Mbefore exit |
| SNOWFLAKE INC (SNOW 0 10/01/27) | NOTE 10/0 · principal | New | 10,000,000 | $11.8M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Sold out | 10,685,000 | $11.1Mbefore exit |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | Add +23.4% | 10,555,000 | $10.5M |
| PEABODY ENERGY CORP (BTU 3.25 03/01/28) | NOTE 3.250% 3/0 · principal | Sold out | 6,000,000 | $10.1Mbefore exit |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Sold out | 8,297,000 | $9.3Mbefore exit |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -86.4% | 8,290,000 | $9.1M |
| ENOVIS CORP (ENOV 3.875 10/15/28) | NOTE 3.875%10/1 · principal | Sold out | 9,055,000 | $8.9Mbefore exit |
| JOBY AVIATION INC (JOBY 0.75 02/15/32) | NOTE 0.750% 2/1 · principal | New | 9,630,000 | $8.2M |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Reduce -87.8% | 5,153,000 | $7.7M |
| T1 ENERGY INC (TE 5.25 12/01/30) | NOTE 5.250%12/0 · principal | New | 5,950,000 | $6.3M |
| IMPINJ INC (PI 1.125 05/15/27) | NOTE 1.125% 5/1 · principal | New | 5,000,000 | $6.1M |
| RIVIAN AUTO INC (RIVN 4.625 03/15/29) | NOTE 4.625% 3/1 · principal | Add +25.0% | 5,000,000 | $5.4M |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | Sold out | 5,000,000 | $5.2Mbefore exit |
| MKS INC (MKSI 1.25 06/01/30) | NOTE 1.250% 6/0 · principal | Reduce -93.9% | 2,500,000 | $4.1M |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | Sold out | 4,150,000 | $4.1Mbefore exit |
| SUPER MICRO COMPUTER INC (SMCI 2.25 07/15/28) | NOTE 2.250% 7/1 · principal | New | 4,000,000 | $3.4M |
| FIRST MAJESTIC SILVER (AGCN 0.375 01/15/27) | NOTE 0.375% 1/1 · principal | Sold out | 2,600,000 | $3.2Mbefore exit |
| FLUENCE ENERGY INC (FLNC 2.25 06/15/30) | NOTE 2.250% 6/1 · principal | Add +50.0% | 3,000,000 | $3.0M |
| SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) | NOTE 0.500% 8/0 · principal | Add +368.3% | 2,810,000 | $2.6M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | New | 1,950,000 | $2.3M |
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | Add +3.5% | 149,113 | $2.2M |
| NABORS INDUSTRIES INC (NBR 1.75 06/15/29) | NOTE 1.750% 6/1 · principal | New | 1,747,000 | $1.6M |
| SIRIUS XM HOLDINGS (SIRI 3.75 03/15/28) | NOTE 3.750% 3/1 · principal | Reduce -53.0% | 1,550,000 | $1.6M |
| INTEGER HOLDINGS CORP (ITGR 1.875 03/15/30) | DBCV 1.875% 3/1 · principal | New | 1,565,000 | $1.5M |
| TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) | NOTE 0.750% 6/1 · principal | New | 1,350,000 | $1.4M |
| LIVE NATION ENTERTAINMEN (LYV 2.875 01/15/30) | NOTE 2.875% 1/1 · principal | Reduce -90.2% | 1,100,000 | $1.2M |
| KOSMOS ENERGY LTD (KOS 3.125 03/15/30) | NOTE 3.125% 3/1 · principal | Reduce -77.0% | 1,500,000 | $1.2M |
Showing the first 50 of 86.
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 |