Q4 2025 · 13F-HR
ADVENT CAPITAL MANAGEMENT /DE/holdings as filed
Filed 2026-02-09 · accession 0001140361-26-004346
$4.98B
Reported value
225
Positions
2025-12-31
Period end
The Brief · ADVENT CAPITAL MANAGEMENT /DE/ · Q4 2025
AI · grounded in 13F
ADVENT CAPITAL MANAGEMENT /DE/ established a new position in LIVE NATION ENTERTAINMEN [[stock:LYV 2.875 01/15/30]] valued at $69.7M. The fund also opened new positions in AFFIRM HOLDINGS INC [[stock:AFRM 0.75 12/15/29]] for $50.6M and SOUTHERN CO [[stock:SO 7.125 12/15/28 A]] for $45.6M. On the sell side, the fund closed its position in AIRBNB INC [[stock:ABNB 0 03/15/26]], reducing its exposure by $39.5M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF Trust | $586.5M | 11.8% | 860,000 | CALL | SOLE |
| 060505682 | BAC 7.25 PERP L | BANK OF AMERICA CORP | $197.0M | 3.96% | 157,311 | Common | SOLE |
| 949746804 | WFC 7.5 PERP L | WELLS FARGO & COMPANY | $191.8M | 3.85% | 157,600 | Common | SOLE |
| 90353TAM2 | UBER 0.875 12/01/28 2028 | UBER TECHNOLOGIES INC | $184.9M | 3.72% | 142,238,000 | Common | SOLE |
| 37940XAU6 | GPN 1.5 03/01/31 | GLOBAL PAYMENTS INC | $108.4M | 2.18% | 119,816,000 | Common | SOLE |
| 92277GAZ0 | VTR 3.75 06/01/26 | VENTAS REALTY LP | $104.3M | 2.10% | 73,569,000 | Common | SOLE |
| 59001ABF8 | MTH 1.75 05/15/28 | MERITAGE HOMES CORP | $104.2M | 2.09% | 105,126,000 | Common | SOLE |
| 48251W500 | KKR 6.25 03/01/28 D | KKR & CO INC | $103.7M | 2.08% | 1,997,547 | Common | SOLE |
| 65339F663 | NEE 7.299 06/01/27 | NEXTERA ENERGY INC | $102.7M | 2.06% | 1,988,322 | Common | SOLE |
| 03769M304 | APO 6.75 07/31/26 | APOLLO GLOBAL MANAGEMENT | $96.4M | 1.94% | 1,277,582 | Common | SOLE |
| 125896BX7 | CMS 3.375 05/01/28 | CMS ENERGY CORP | $94.3M | 1.89% | 87,479,000 | Common | SOLE |
| 65339KCY4 | NEE 3 03/01/27 | NEXTERA ENERGY CAPITAL | $81.6M | 1.64% | 65,080,000 | Common | SOLE |
| 902252AB1 | TYL 0.25 03/15/26 | TYLER TECHNOLOGIES INC | $79.3M | 1.59% | 78,180,000 | Common | SOLE |
| 69352PAS2 | PPL 2.875 03/15/28 | PPL CAPITAL FUNDING INC | $74.8M | 1.50% | 67,596,000 | Common | SOLE |
| 26441CBY0 | DUK 4.125 04/15/26 | DUKE ENERGY CORP | $74.4M | 1.50% | 71,579,000 | Common | SOLE |
| 538034BC2 | LYV 2.875 01/15/30 | LIVE NATION ENTERTAINMEN | $69.7M | 1.40% | 65,401,000 | Common | NONE |
| 15189TBD8 | CNP 4.25 08/15/26 | CENTERPOINT ENERGY INC | $65.1M | 1.31% | 58,536,000 | Common | SOLE |
| 097023204 | BA 6 10/15/27 | BOEING CO/THE | $59.0M | 1.19% | 849,161 | Common | SOLE |
| 842587DZ7 | SO 4.5 06/15/27 | SOUTHERN CO | $57.1M | 1.15% | 53,292,000 | Common | SOLE |
| 516544AB9 | LNTH 2.625 12/15/27 | LANTHEUS HOLDINGS INC | $53.0M | 1.07% | 46,122,000 | Common | SOLE |
| 00827BAD8 | AFRM 0.75 12/15/29 | AFFIRM HOLDINGS INC | $50.6M | 1.02% | 45,578,000 | Common | NONE |
| 88162GAB9 | TTEK 2.25 08/15/28 | TETRA TECH INC | $48.1M | 0.97% | 43,876,000 | Common | SOLE |
| 10316TAD6 | BOX 1.5 09/15/29 | BOX INC | $47.3M | 0.95% | 48,301,000 | Common | SOLE |
| 03990B309 | ARES 6.75 10/01/27 B | ARES MANAGEMENT CORP | $46.5M | 0.93% | 920,473 | Common | SOLE |
| 842587842 | SO 7.125 12/15/28 A | SOUTHERN CO | $45.6M | 0.92% | 916,989 | Common | SOLE |
| 67059NAH1 | NTNX 0.25 10/01/27 | NUTANIX INC | $45.6M | 0.92% | 40,522,000 | Common | SOLE |
| 26142RAB0 | DKNG 0 03/15/28 | DRAFTKINGS HOLDINGS INC | $44.9M | 0.90% | 49,037,000 | Common | NONE |
| 743312AD2 | PRGS 3.5 03/01/30 | PROGRESS SOFTWARE CORP | $44.8M | 0.90% | 43,706,000 | Common | NONE |
| 86800UAB0 | SMCI 3.5 03/01/29 | SUPER MICRO COMPUTER INC | $40.8M | 0.82% | 45,147,000 | Common | NONE |
| 57164YAF4 | VAC 3.25 12/15/27 | MARRIOTT VACATION WORLDW | $40.1M | 0.81% | 42,082,000 | Common | NONE |
| 23804LAD5 | DDOG 0 12/01/29 | DATADOG INC | $37.5M | 0.75% | 37,409,000 | Common | SOLE |
| 69331CAL2 | PCG 4.25 12/01/27 | PG&E CORP | $37.3M | 0.75% | 36,095,000 | Common | NONE |
| 833445AD1 | SNOW 0 10/01/29 | SNOWFLAKE INC | $37.2M | 0.75% | 24,026,000 | Common | SOLE |
| 74736LAD1 | QTWO 0.75 06/01/26 | Q2 HOLDINGS INC | $35.4M | 0.71% | 34,948,000 | Common | NONE |
| 98139AAD7 | WK 1.25 08/15/28 | WORKIVA INC | $35.2M | 0.71% | 35,404,000 | Common | NONE |
| 42824C208 | HPE 7.625 09/01/27 | HP ENTERPRISE CO | $34.9M | 0.70% | 527,546 | Common | SOLE |
| 70202LAD4 | PSN 2.625 03/01/29 | PARSONS CORP | $34.6M | 0.70% | 33,316,000 | Common | SOLE |
| 00971TAN1 | AKAM 1.125 02/15/29 | AKAMAI TECHNOLOGIES INC | $34.3M | 0.69% | 34,451,000 | Common | SOLE |
| 682189AS4 | ON 0 05/01/27 | ON SEMICONDUCTOR CORP | $34.2M | 0.69% | 28,682,000 | Common | NONE |
| 92939UAR7 | WEC 4.375 06/01/29 | WEC ENERGY GROUP INC | $33.8M | 0.68% | 28,784,000 | Common | SOLE |
| 67000B203 | NOVT 6.5 11/01/28 | NOVANTA INC | $31.7M | 0.64% | 581,990 | Common | SOLE |
| 116794207 | BRKR 6.375 09/01/28 | BRUKER CORP | $31.5M | 0.63% | 86,679 | Common | SOLE |
| 465741AQ9 | ITRI 1.375 07/15/30 | ITRON INC | $31.0M | 0.62% | 30,415,000 | Common | NONE |
| 595017302 | MCHP 7.5 03/15/28 | MICROCHIP TECHNOLOGY INC | $31.0M | 0.62% | 529,956 | Common | SOLE |
| 17275R102 | CSCO | Cisco Systems Inc | $30.8M | 0.62% | 400,000 | CALL | SOLE |
| 682189AU9 | ON 0.5 03/01/29 | ON SEMICONDUCTOR CORP | $30.0M | 0.60% | 31,555,000 | Common | NONE |
| 70932AAH6 | PMT 8.5 06/01/29 | PENNYMAC CORP | $29.4M | 0.59% | 27,466,000 | Common | SOLE |
| 665531AJ8 | NOG 3.625 04/15/29 | NORTHERN OIL & GAS INC | $29.1M | 0.58% | 29,815,000 | Common | SOLE |
| 91688FAB0 | UPWK 0.25 08/15/26 | UPWORK INC | $28.3M | 0.57% | 28,914,000 | Common | SOLE |
| 09239BAF6 | BL 1 06/01/29 | BLACKLINE INC | $27.1M | 0.55% | 25,656,000 | Common | NONE |
| 345370CZ1 | F 0 03/15/26 | FORD MOTOR COMPANY | $26.9M | 0.54% | 25,868,000 | Common | SOLE |
| 759916AD1 | RGEN 1 12/15/28 | REPLIGEN CORP | $26.8M | 0.54% | 24,431,000 | Common | NONE |
| 75526L845 | ACVT | Advent Convertible Bond ETF | $26.5M | 0.53% | 990,250 | Common | SOLE |
| 472145AH4 | JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $26.0M | 0.52% | 19,332,000 | Common | SOLE |
| 82452J307 | FOUR 6 05/01/28 | SHIFT4 PAYMENTS INC | $25.9M | 0.52% | 323,380 | Common | SOLE |
| 30212PBE4 | EXPE 0 02/15/26 | EXPEDIA GROUP INC | $25.8M | 0.52% | 23,068,000 | Common | SOLE |
| 338307AF8 | FIVN 1 03/15/29 | FIVE9 INC | $25.1M | 0.50% | 27,741,000 | Common | NONE |
| 82452JAD1 | FOUR 0.5 08/01/27 | SHIFT4 PAYMENTS INC | $25.1M | 0.50% | 25,944,000 | Common | SOLE |
| 89677QAB3 | TCOM 0.75 06/15/29 | TRIP.COM GROUP LTD | $24.6M | 0.49% | 19,947,000 | Common | SOLE |
| 090043AF7 | BILL 0 04/01/30 | BILL HOLDINGS INC | $24.1M | 0.48% | 26,181,000 | Common | NONE |
| 83304AAK2 | SNAP 0.5 05/01/30 | SNAP INC | $23.9M | 0.48% | 27,271,000 | Common | NONE |
| 10806XAD4 | BBIO 2.25 02/01/29 | BRIDGEBIO PHARMA INC | $23.3M | 0.47% | 20,513,000 | Common | NONE |
| 928298AR9 | VSH 2.25 09/15/30 | VISHAY INTERTECHNOLOGY | $23.1M | 0.46% | 25,404,000 | Common | NONE |
| 29355AAK3 | ENPH 0 03/01/28 | ENPHASE ENERGY INC | $23.1M | 0.46% | 26,389,000 | Common | NONE |
| 29786AAL0 | ETSY 0.125 09/01/27 | ETSY INC | $22.8M | 0.46% | 24,534,000 | Common | NONE |
| 852234AK9 | XYZ 0.25 11/01/27 | BLOCK INC | $22.6M | 0.45% | 24,310,000 | Common | NONE |
| 008073AA6 | AVAV 0 07/15/30 | AEROVIRONMENT INC | $21.6M | 0.43% | 19,818,000 | Common | SOLE |
| 538034BA6 | LYV 3.125 01/15/29 | LIVE NATION ENTERTAINMEN | $21.5M | 0.43% | 14,629,000 | Common | SOLE |
| 04271TAB6 | ARRY 1 12/01/28 | ARRAY TECHNOLOGIES INC | $21.0M | 0.42% | 23,121,000 | Common | SOLE |
| 92538JAB2 | VERX 0.75 05/01/29 | VERTEX INC | $20.7M | 0.42% | 21,751,000 | Common | NONE |
| 252131AM9 | DXCM 0.375 05/15/28 | DEXCOM INC | $20.6M | 0.41% | 22,321,000 | Common | NONE |
| 89422GAA5 | TVTX 2.25 03/01/29 | TRAVERE THERAPEUTICS INC | $20.4M | 0.41% | 14,212,000 | Common | NONE |
| 922280AD4 | VRNS 1 09/15/29 | VARONIS SYSTEM INC | $19.9M | 0.40% | 21,261,000 | Common | NONE |
| 767292AB1 | RIOT 0.75 01/15/30 | RIOT PLATFORMS INC | $19.6M | 0.39% | 17,193,000 | Common | SOLE |
| 69331C306 | PCG 6 12/01/27 A | PG&E CORP | $19.2M | 0.38% | 466,504 | Common | SOLE |
| 87918AAF2 | TDOC 1.25 06/01/27 | TELADOC HEALTH INC | $18.8M | 0.38% | 19,706,000 | Common | NONE |
| 405024AD2 | HAE 2.5 06/01/29 | HAEMONETICS CORP | $18.8M | 0.38% | 17,981,000 | Common | NONE |
| 974637AF7 | WGO 3.25 01/15/30 | WINNEBAGO INDUSTRIES | $18.2M | 0.37% | 18,985,000 | Common | NONE |
| 343412AJ1 | FLR 1.125 08/15/29 | FLUOR CORP | $17.5M | 0.35% | 15,247,000 | Common | SOLE |
| 19260QAB3 | COIN 0.5 06/01/26 | COINBASE GLOBAL INC | $17.0M | 0.34% | 16,969,000 | Common | SOLE |
| 67059NAK4 | NTNX 0.5 12/15/29 | NUTANIX INC | $16.9M | 0.34% | 17,518,000 | Common | NONE |
| 875372AD6 | TNDM 1.5 03/15/29 2024 | TANDEM DIABETES CARE INC | $16.5M | 0.33% | 16,156,000 | Common | NONE |
| 84921RAB6 | SPOT 0 03/15/26 | SPOTIFY USA INC | $16.5M | 0.33% | 14,525,000 | Common | SOLE |
| 358039AB1 | FRPT 3 04/01/28 | FRESHPET INC | $16.2M | 0.33% | 13,767,000 | Common | NONE |
| 958102AT2 | WDC 3 11/15/28 | WESTERN DIGITAL CORP | $15.4M | 0.31% | 3,364,000 | Common | SOLE |
| 30050BAH4 | EVH 3.5 12/01/29 | EVOLENT HEALTH INC | $15.3M | 0.31% | 22,573,000 | Common | NONE |
| 98139AAB1 | WK 1.125 08/15/26 | WORKIVA INC | $15.3M | 0.31% | 13,072,000 | Common | SOLE |
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HOLDING | $15.1M | 0.30% | 9,682,000 | Common | SOLE |
| 82846H504 | QXO 5.5 05/15/28 | QXO INC | $14.7M | 0.30% | 265,400 | Common | SOLE |
| 194014AB2 | ENOV 3.875 10/15/28 | ENOVIS CORP | $14.6M | 0.29% | 14,787,000 | Common | NONE |
| 64049MAB6 | NEO 0.25 01/15/28 | NEOGENOMICS INC | $14.5M | 0.29% | 16,224,000 | Common | NONE |
| 86771WAD7 | RUN 4 03/01/30 | SUNRUN INC | $14.5M | 0.29% | 10,085,000 | Common | SOLE |
| 18452BAC4 | CLSK 0 06/15/30 | CLEANSPARK INC | $13.8M | 0.28% | 13,301,000 | Common | SOLE |
| 40171VAC4 | GWRE 1.25 11/01/29 | GUIDEWIRE SOFTWARE INC | $12.9M | 0.26% | 11,670,000 | Common | SOLE |
| 30050BAJ0 | EVH 4.5 08/15/31 | EVOLENT HEALTH INC | $12.8M | 0.26% | 17,588,000 | Common | NONE |
| 565788AH9 | MARA 0 06/01/31 | MARA HOLDINGS INC | $12.1M | 0.24% | 14,435,000 | Common | NONE |
| 902681AB1 | UGI 5 06/01/28 | UGI CORP | $11.4M | 0.23% | 8,009,000 | Common | NONE |
| 62886HBD2 | NCLH 1.125 02/15/27 | NCL CORPORATION LTD | $10.3M | 0.21% | 10,300,000 | Common | SOLE |
| 47215PAJ5 | JD 0.25 06/01/29 | JD.COM INC | $9.5M | 0.19% | 9,415,000 | Common | SOLE |
| 00971TAL5 | AKAM 0.375 09/01/27 | AKAMAI TECHNOLOGIES INC | $9.4M | 0.19% | 9,356,000 | Common | SOLE |
| 03823UAE2 | AAOI | APPLIED OPTOELECTRONICS | $9.1M | 0.18% | 7,756,000 | Common | SOLE |
| 803607AD2 | SRPT 1.25 09/15/27 | SAREPTA THERAPEUTICS INC | $9.0M | 0.18% | 10,085,000 | Common | NONE |
| 35834FAB0 | TE 5.25 12/01/30 | T1 ENERGY INC | $8.9M | 0.18% | 6,900,000 | Common | SOLE |
| 018802AC2 | LNT 3.875 03/15/26 | ALLIANT ENERGY CORP | $8.8M | 0.18% | 8,319,000 | Common | SOLE |
| 29786AAJ5 | ETSY 0.125 10/01/26 | ETSY INC | $8.6M | 0.17% | 8,537,000 | Common | SOLE |
| 83419XAB4 | SEI 0.25 10/01/31 | SOLARIS ENERGY INFRASTRU | $8.4M | 0.17% | 7,730,000 | Common | NONE |
| 594972887 | MSTR 8 PERP | STRATEGY INC | $8.4M | 0.17% | 105,738 | Common | SOLE |
| 462222AF7 | IONS 1.75 06/15/28 | IONIS PHARMACEUTICALS IN | $8.1M | 0.16% | 5,056,000 | Common | SOLE |
| 91680MAF4 | UPST 1 11/15/30 | UPSTART HOLDINGS INC | $8.0M | 0.16% | 9,118,000 | Common | SOLE |
| 83419XAA6 | SEI 4.75 05/01/30 | SOLARIS ENERGY INFRASTRU | $7.8M | 0.16% | 3,905,000 | Common | SOLE |
| 09709UV70 | BAC 0.6 05/25/27 MTN | BOFA FINANCE LLC | $7.4M | 0.15% | 6,800,000 | Common | SOLE |
| 594972AL5 | MSTR 0.875 03/15/31 | STRATEGY INC | $7.3M | 0.15% | 7,094,000 | Common | SOLE |
| 76954AAD5 | RIVN 3.625 10/15/30 | RIVIAN AUTO INC | $7.3M | 0.15% | 6,433,000 | Common | NONE |
| 140501AE7 | CSWC 5.125 11/15/29 | CAPITAL SOUTHWEST CORP | $7.2M | 0.15% | 7,250,000 | Common | SOLE |
| 76954AAB9 | RIVN 4.625 03/15/29 | RIVIAN AUTO INC | $7.0M | 0.14% | 5,474,000 | Common | SOLE |
| 437076102 | HD | Home Depot Inc/The | $6.9M | 0.14% | 20,000 | CALL | SOLE |
| 819047AB7 | SHAK 0 03/01/28 | SHAKE SHACK INC | $6.8M | 0.14% | 7,159,000 | Common | SOLE |
| G66721104 | NCLH | Norwegian Cruise Line Holdings | $6.7M | 0.13% | 300,000 | CALL | SOLE |
| 70614WAD2 | PTON 5.5 12/01/29 | PELOTON INTERACTIVE INC | $6.7M | 0.13% | 3,980,000 | Common | SOLE |
| 45826HAB5 | ITGR 2.125 02/15/28 | INTEGER HOLDINGS CORP | $6.5M | 0.13% | 5,714,000 | Common | SOLE |
| 09257WAE0 | BXMT 5.5 03/15/27 | BLACKSTONE MORTGAGE TR | $6.4M | 0.13% | 6,398,000 | Common | SOLE |
| 91332UAB7 | U 0 11/15/26 | UNITY SOFTWARE INC | $6.2M | 0.12% | 6,413,000 | Common | SOLE |
| 007973AE0 | AEIS 2.5 09/15/28 | ADVANCED ENERGY IND | $6.0M | 0.12% | 3,615,000 | Common | SOLE |
| 337932AR8 | FE 4 05/01/26 | FIRSTENERGY CORP | $5.8M | 0.12% | 5,660,000 | Common | SOLE |
| 55303JAB2 | MGPI 1.875 11/15/41 | MGP INGREDIENTS INC | $5.7M | 0.12% | 5,900,000 | Common | SOLE |
| 156727AD1 | CRNC 1.5 07/01/28 | CERENCE INC | $5.6M | 0.11% | 6,200,000 | Common | SOLE |
| 784730AB9 | SSRMCN 2.5 04/01/39 | SSR MINING INC | $5.5M | 0.11% | 4,208,000 | Common | SOLE |
| 30034WAD8 | EVRG 4.5 12/15/27 | EVERGY INC | $5.5M | 0.11% | 4,525,000 | Common | SOLE |
| 53680QAA6 | LARCN 1.75 01/15/27 | LITHIUM ARGENTINA AG | $5.3M | 0.11% | 5,809,000 | Common | SOLE |
| 55024UAH2 | LITE 1.5 12/15/29 | LUMENTUM HOLDINGS INC | $5.3M | 0.11% | 1,001,000 | Common | SOLE |
| 531229AP7 | SIRI 3.75 03/15/28 | SIRIUS XM HOLDINGS | $5.2M | 0.11% | 5,147,000 | Common | SOLE |
| 69549FAB5 | PGY 6.125 10/01/29 | PAGAYA TECHNOLOGIES LTD | $5.2M | 0.10% | 2,822,000 | Common | SOLE |
| 19240QAA0 | COGT 1.625 11/15/31 | COGENT BIOSCIENCES INC | $5.2M | 0.10% | 4,400,000 | Common | SOLE |
| 45258DAB1 | IMCR 2.5 02/01/30 | IMMUNOCORE HOLDINGS | $5.1M | 0.10% | 5,600,000 | Common | SOLE |
| 594972AN1 | MSTR 2.25 06/15/32 | STRATEGY INC | $5.0M | 0.10% | 4,500,000 | Common | NONE |
| 68389X105 | ORCL | Oracle Corp | $4.9M | 0.10% | 25,000 | CALL | SOLE |
| 88339PAJ0 | REAL 4 02/15/31 | THE REALREAL INC | $4.8M | 0.10% | 2,800,000 | Common | SOLE |
| 81180WBL4 | STX 3.5 06/01/28 | SEAGATE HDD CAYMAN | $4.7M | 0.09% | 1,400,000 | Common | SOLE |
| 10316TAB0 | BOX 0 01/15/26 | BOX INC | $4.6M | 0.09% | 3,950,000 | Common | SOLE |
| 40637HAD1 | HALO 0.25 03/01/27 | HALOZYME THERAPEUTICS IN | $4.6M | 0.09% | 4,266,000 | Common | SOLE |
| 012653200 | ALB 7.25 03/01/27 | ALBEMARLE CORP | $4.6M | 0.09% | 77,747 | Common | SOLE |
| 465741AN6 | ITRI 0 03/15/26 | ITRON INC | $4.5M | 0.09% | 4,508,000 | Common | SOLE |
| 19260QAF4 | COIN 0.25 04/01/30 | COINBASE GLOBAL INC | $4.5M | 0.09% | 4,350,000 | Common | SOLE |
| 83304AAH9 | SNAP 0.125 03/01/28 | SNAP INC | $4.4M | 0.09% | 4,850,000 | Common | SOLE |
| 753422AF1 | RPD 0.25 03/15/27 | RAPID7 INC | $4.2M | 0.08% | 4,426,000 | Common | SOLE |
| G29183103 | ETN | Eaton Corp PLC | $4.1M | 0.08% | 13,000 | Common | SOLE |
| 38341PAA0 | GOSS 5 06/01/27 | GOSSAMER BIO INC | $4.1M | 0.08% | 6,000,000 | Common | SOLE |
| 666807102 | NOC | Northrop Grumman Corp | $4.0M | 0.08% | 7,000 | Common | SOLE |
| 03209RAB9 | AMPH 2 03/15/29 | AMPHASTAR PHARMACEUTICAL | $3.8M | 0.08% | 4,086,000 | Common | SOLE |
| 08265TAB5 | BSY 0.125 01/15/26 | BENTLEY SYSTEMS INC | $3.7M | 0.08% | 3,741,000 | Common | SOLE |
| 55306NAB0 | MKSI 1.25 06/01/30 | MKS INC | $3.6M | 0.07% | 2,850,000 | Common | NONE |
| 733245AD6 | PRCH 9 05/15/30 | PORCH GROUP INC | $3.6M | 0.07% | 3,150,000 | Common | SOLE |
| 604749AB7 | MIRM 4 05/01/29 | MIRUM PHARMACEUTICALS | $3.6M | 0.07% | 1,376,000 | Common | SOLE |
| 093712AM9 | BE 3 06/01/29 | BLOOM ENERGY CORP | $3.6M | 0.07% | 832,000 | Common | SOLE |
| 31188VAD2 | FSLY 7.75 06/01/28 | FASTLY INC | $3.5M | 0.07% | 3,150,000 | Common | SOLE |
| 00971T101 | AKAM | Akamai Technologies Inc | $3.5M | 0.07% | 40,000 | CALL | SOLE |
| 00287Y109 | ABBV | AbbVie Inc | $3.4M | 0.07% | 15,000 | Common | SOLE |
| 472145AF8 | JAZZ 2 06/15/26 | JAZZ INVESTMENTS I LTD | $3.3M | 0.07% | 2,886,000 | Common | SOLE |
| 69349HAF4 | TXNM 5.75 06/01/54 | TXNM ENERGY INC | $3.3M | 0.07% | 2,479,000 | Common | SOLE |
| 695127AJ9 | PCRX | PACIRA BIOSCIENCES INC | $3.3M | 0.07% | 3,289,000 | Common | SOLE |
| 83406FAA0 | SOFI | SOFI TECHNOLOGIES INC | $3.3M | 0.07% | 2,554,000 | Common | SOLE |
| 393222AM6 | GPRE 5.25 11/01/30 UNRS | GREEN PLAINS INC | $3.3M | 0.07% | 3,100,000 | Common | SOLE |
| 37045V100 | GM | General Motors Co | $3.3M | 0.07% | 40,000 | Common | SOLE |
| 92537N108 | VRT | Vertiv Holdings Co | $3.2M | 0.07% | 20,000 | Common | SOLE |
| 85571BBA2 | STWD 6.75 07/15/27 | STARWOOD PROPERTY TRUST | $3.2M | 0.06% | 3,000,000 | Common | SOLE |
| 143658300 | CCL1EUR | Carnival Corp | $3.1M | 0.06% | 100,000 | Common | SOLE |
| 91680MAD9 | UPST 2 10/01/29 | UPSTART HOLDINGS INC | $2.9M | 0.06% | 2,315,000 | Common | SOLE |
| 693475105 | PNC | PNC Financial Services Group I | $2.9M | 0.06% | 14,000 | Common | SOLE |
| 05988JAD5 | BAND 0.5 04/01/28 | BANDWIDTH INC | $2.9M | 0.06% | 3,300,000 | Common | SOLE |
| 101137107 | BSX | Boston Scientific Corp | $2.9M | 0.06% | 30,000 | Common | SOLE |
| 46333XAH1 | IRWD 1.5 06/15/26 | IRONWOOD PHARMACEUTICALS | $2.8M | 0.06% | 3,000,000 | Common | SOLE |
| 753422AH7 | RPD 1.25 03/15/29 | RAPID7 INC | $2.8M | 0.06% | 3,073,000 | Common | SOLE |
| 531229AQ5 | FWONK 2.25 08/15/27 | LIBERTY MEDIA CORP | $2.8M | 0.06% | 2,200,000 | Common | NONE |
| 11135F101 | AVGO | Broadcom Inc | $2.8M | 0.06% | 8,000 | Common | SOLE |
| 86333MAA6 | LRN 1.125 09/01/27 | STRIDE INC | $2.7M | 0.06% | 2,000,000 | Common | SOLE |
| 26210CAC8 | DBX 0 03/01/26 | DROPBOX INC | $2.6M | 0.05% | 2,604,000 | Common | SOLE |
| V7780T103 | RCL | Royal Caribbean Cruises Ltd | $2.5M | 0.05% | 9,000 | Common | SOLE |
| 23282WAC4 | CYTK 3.5 07/01/27 | CYTOKINETICS INC | $2.5M | 0.05% | 1,750,000 | Common | SOLE |
| 122017AD8 | BURL 1.25 12/15/27 | BURLINGTON STORES INC | $2.2M | 0.04% | 1,500,000 | Common | SOLE |
| 01609W102 | BABA | Alibaba Group Holding Ltd | $2.2M | 0.04% | 15,000 | CALL | SOLE |
| 29355AAH0 | ENPH 0 03/01/26 | ENPHASE ENERGY INC | $2.2M | 0.04% | 2,175,000 | Common | SOLE |
| 15102KAA8 | CELC 2.75 08/01/31 | CELCUITY INC | $2.1M | 0.04% | 980,000 | Common | SOLE |
| 92347MAB6 | VERI 1.75 11/15/26 | VERITONE INC | $2.0M | 0.04% | 2,107,000 | Common | SOLE |
| 08265TAD1 | BSY 0.375 07/01/27 | BENTLEY SYSTEMS | $1.9M | 0.04% | 1,980,000 | Common | SOLE |
| 70932AAF0 | PMT 5.5 03/15/26 | PENNYMAC CORP | $1.9M | 0.04% | 1,830,000 | Common | SOLE |
| 758075AF2 | RWT 7.75 06/15/27 | REDWOOD TRUST INC | $1.8M | 0.04% | 1,800,000 | Common | SOLE |
| 62957HAL9 | NBR 1.75 06/15/29 | NABORS INDUSTRIES INC | $1.7M | 0.03% | 2,103,000 | Common | SOLE |
| 10950A205 | BTSG 6.75 02/01/27 | BRIGHTSPRING HEALTH SERV | $1.7M | 0.03% | 13,528 | Common | SOLE |
| 34379VAB9 | FLNC 2.25 06/15/30 | FLUENCE ENERGY INC | $1.7M | 0.03% | 1,400,000 | Common | SOLE |
| 30063PAB1 | EXAS 0.375 03/15/27 | EXACT SCIENCES CORP | $1.6M | 0.03% | 1,570,000 | Common | SOLE |
| 25402DAB8 | DOCN 0 12/01/26 | DIGITALOCEAN HOLDINGS | $1.5M | 0.03% | 1,549,000 | Common | SOLE |
| 767292105 | RIOT | Riot Platforms Inc | $1.3M | 0.03% | 100,000 | PUT | SOLE |
| 83406F102 | SOFI | SoFi Technologies Inc | $1.2M | 0.02% | 45,000 | CALL | SOLE |
| G11448100 | BTDR | Bitdeer Technologies Group | $1.2M | 0.02% | 105,000 | CALL | SOLE |
| 09239BAD1 | BL 0 03/15/26 | BLACKLINE INC | $1.2M | 0.02% | 1,160,000 | Common | SOLE |
| 22410JAB2 | CBRL 0.625 06/15/26 | CRACKER BARREL OLD COUNT | $1.0M | 0.02% | 1,058,000 | Common | SOLE |
| 12685JAG0 | CABO 1.125 03/15/28 | CABLE ONE INC | $1.0M | 0.02% | 1,244,000 | Common | SOLE |
| 565788106 | MARA | MARA Holdings Inc | $898,000 | 0.02% | 100,000 | CALL | SOLE |
| 707569AU3 | PENN 2.75 05/15/26 | PENN ENTERTAINMENT INC | $867,936 | 0.02% | 872,000 | Common | SOLE |
| 723484AK7 | PNW 4.75 06/15/27 | PINNACLE WEST CAPITAL | $847,071 | 0.02% | 790,000 | Common | SHARED |
| 48123VAE2 | ZD 1.75 11/01/26 | ZIFF DAVIS INC | $761,798 | 0.02% | 775,000 | Common | SOLE |
| 98978V103 | ZTS | Zoetis Inc | $704,592 | 0.01% | 5,600 | Common | SOLE |
| 912932100 | UNIT | Uniti Group Inc | $701,000 | 0.01% | 100,000 | Common | SOLE |
| 55405YAB6 | MTSI 0.25 03/15/26 | M/A-COM TECH SOLUTIONS | $676,257 | 0.01% | 325,000 | Common | SOLE |
| 42703MAF0 | HLF 4.25 06/15/28 | HERBALIFE LTD | $601,925 | 0.01% | 554,000 | Common | SOLE |
| 10806XAB8 | BBIO 2.5 03/15/27 | BRIDGEBIO PHARMA INC | $568,778 | 0.01% | 300,000 | Common | SOLE |
| 08975B109 | BBAI | BigBear.ai Holdings Inc | $540,000 | 0.01% | 100,000 | CALL | SOLE |
| 00164VAJ2 | AMCX 4.25 02/15/29 * | AMC NETWORKS INC | $495,361 | 0.01% | 476,000 | Common | SOLE |
| 03753U106 | APLSUSD | Apellis Pharmaceuticals Inc | $452,160 | 0.01% | 18,000 | Common | SOLE |
| 29664W105 | ESPR | Esperion Therapeutics Inc | $370,000 | 0.01% | 100,000 | CALL | SOLE |
| 88080T104 | WULF | Terawulf Inc | $344,700 | 0.01% | 30,000 | CALL | SOLE |
| 29664W105 | ESPR | Esperion Therapeutics Inc | $333,000 | 0.01% | 90,000 | Common | SOLE |
| 40637HAF6 | HALO 1 08/15/28 | HALOZYME THERAPEUTICS IN | $309,327 | 0.01% | 232,000 | Common | SOLE |
| 20717MAB9 | CFLT 0 01/15/27 | CONFLUENT INC | $277,448 | 0.01% | 285,000 | Common | SOLE |
| 594972AS0 | MSTR 0 12/01/29 | STRATEGY INC | $273,435 | 0.01% | 332,000 | Common | SOLE |
| 565788AD8 | MARA 2.125 09/01/31 | MARA HOLDINGS INC | $264,921 | 0.01% | 325,000 | Common | SOLE |
| 550021109 | LULU | Lululemon Athletica Inc | $207,810 | 0.00% | 1,000 | CALL | SOLE |
| 683712103 | OPEN | Opendoor Technologies Inc | $116,600 | 0.00% | 20,000 | CALL | SOLE |
| 08975B117 | BBAI/WS | BIGBEAR.AI HOLDINGS INC | $29,218 | 0.00% | 18,260 | Common | SOLE |
| 36467W117 | GME/WS | GAMESTOP CORP-CLASS A | $20,402 | 0.00% | 6,778 | Common | SOLE |
| 051774115 | AUROW | AURORA INNOVATION INC | $13,844 | 0.00% | 61,500 | Common | SOLE |
| 298736AL3 | EEFT 0.75 03/15/49 | EURONET WORLDWIDE INC | $3,403 | 0.00% | 4,000 | Common | SOLE |
| 683712129 | OPENW | OPENDOOR TECHNOLOGIES INC | $1,079 | 0.00% | 1,199 | Common | SOLE |
| 683712137 | OPENL | OPENDOOR TECHNOLOGIES INC | $624 | 0.00% | 1,199 | Common | SOLE |
| 683712145 | OPENZ | OPENDOOR TECHNOLOGIES INC | $479 | 0.00% | 1,199 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.