Q4 2025 · 13F-HR
Opti Capital Management, LPholdings as filed
Filed 2026-02-17 · accession 0000919574-26-001163
The Brief · Opti Capital Management, LP · Q4 2025
AI · grounded in 13F
Opti Capital Management, LP closed its position in SEAGATE HDD CAYMAN [[stock:STX 3.5 06/01/28]], reducing exposure by $125.15M. The fund also exited positions in INTERDIGITAL INC [[stock:IDCC 3.5 06/01/27]] for $109.71M and HALOZYME THERAPEUTICS INC [[stock:HALO 0.25 03/01/27]] for $83.84M. On the buy side, the manager established a new position in FASTLY INC [[stock:FSLY 7.75 06/01/28]] worth $100.18M. Other new additions include DEXCOM INC [[stock:DXCM 0.375 05/15/28]] at $53.55M and MARA HOLDINGS INC [[stock:MARA 0 06/01/31]] at $43.11M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 852234AK9 | XYZ 0.25 11/01/27 | BLOCK INC | $127.3M | 9.28% | 137,500,000 | Common | SOLE |
| 31188VAD2 | FSLY 7.75 06/01/28 | FASTLY INC | $100.2M | 7.30% | 89,646,000 | Common | SOLE |
| 538034BA6 | LYV 3.125 01/15/29 | LIVE NATION ENTERTAINMENT IN | $86.4M | 6.30% | 59,377,000 | Common | SOLE |
| 87918AAF2 | TDOC 1.25 06/01/27 | TELADOC HEALTH INC | $66.7M | 4.86% | 70,000,000 | Common | SOLE |
| 83304AAH9 | SNAP 0.125 03/01/28 | SNAP INC | $63.4M | 4.62% | 69,454,000 | Common | SOLE |
| 08265TAD1 | BSY 0.375 07/01/27 | BENTLEY SYS INC | $60.3M | 4.40% | 64,000,000 | Common | SOLE |
| 29355AAH0 | ENPH 0 03/01/26 | ENPHASE ENERGY INC | $54.5M | 3.97% | 55,000,000 | Common | SOLE |
| 252131AM9 | DXCM 0.375 05/15/28 | DEXCOM INC | $53.6M | 3.90% | 58,000,000 | Common | SOLE |
| 89377MAB5 | TMDX 1.5 06/01/28 | TRANSMEDICS GROUP INC | $52.5M | 3.83% | 35,000,000 | Common | SOLE |
| 753422AF1 | RPD 0.25 03/15/27 | RAPID7 INC | $45.9M | 3.35% | 48,250,000 | Common | SOLE |
| 565788AH9 | MARA 0 06/01/31 | MARA HOLDINGS INC | $43.1M | 3.14% | 51,088,000 | Common | SOLE |
| 09239BAF6 | BL 1 06/01/29 | BLACKLINE INC | $37.0M | 2.70% | 34,940,000 | Common | SOLE |
| 98139AAD7 | WK 1.25 08/15/28 | WORKIVA INC | $33.8M | 2.46% | 34,000,000 | Common | SOLE |
| 26142RAB0 | DKNG 0 03/15/28 | DRAFTKINGS INC NEW | $31.9M | 2.32% | 34,750,000 | Common | SOLE |
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $31.1M | 2.27% | 20,000,000 | Common | SOLE |
| 09061GAK7 | BMRN 1.25 05/15/27 | BIOMARIN PHARMACEUTICAL INC | $30.9M | 2.25% | 32,058,000 | Common | SOLE |
| 896945AD4 | TRIP 0.25 04/01/26 | TRIPADVISOR INC | $29.6M | 2.16% | 30,000,000 | Common | SOLE |
| 20717MAB9 | CFLT 0 01/15/27 | CONFLUENT INC | $29.3M | 2.13% | 30,000,000 | Common | SOLE |
| 29786AAL0 | ETSY 0.125 09/01/27 | ETSY INC | $27.8M | 2.03% | 30,000,000 | Common | SOLE |
| 090043AF7 | BILL 0 04/01/30 | BILL HOLDINGS INC | $27.7M | 2.02% | 30,000,000 | Common | SOLE |
| 338307AF8 | FIVN 1 03/15/29 | FIVE9 INC | $27.1M | 1.97% | 30,000,000 | Common | SOLE |
| 922280AD4 | VRNS 1 09/15/29 | VARONIS SYS INC | $26.7M | 1.95% | 28,668,000 | Common | SOLE |
| 698884AE3 | PAR 1.5 10/15/27 | PAR TECHNOLOGY CORP | $24.0M | 1.75% | 24,500,000 | Common | SOLE |
| 595017BG8 | MCHP 0.75 06/01/30 | MICROCHIP TECHNOLOGY INC. | $23.7M | 1.73% | 24,168,000 | Common | SOLE |
| 007973AE0 | AEIS 2.5 09/15/28 | ADVANCED ENERGY INDS | $23.6M | 1.72% | 14,338,000 | Common | SOLE |
| 05988JAD5 | BAND 0.5 04/01/28 | BANDWIDTH INC | $21.5M | 1.57% | 24,500,000 | Common | SOLE |
| 15677JAD0 | DAY 0.25 03/15/26 | DAYFORCE INC | $21.3M | 1.56% | 21,500,000 | Common | SOLE |
| 91879QAN9 | MTN 0 01/01/26 | VAIL RESORTS INC | $20.4M | 1.49% | 20,445,000 | Common | SOLE |
| 29415FAD6 | NVST 1.75 08/15/28 | ENVISTA HOLDINGS CORPORATION | $20.2M | 1.48% | 21,000,000 | Common | SOLE |
| 207410AH4 | CNMD 2.25 06/15/27 | CONMED CORP | $19.2M | 1.40% | 20,000,000 | Common | SOLE |
| 98149GAB6 | WKC 3.25 07/01/28 | WORLD KINECT CORPORATION | $17.7M | 1.29% | 16,750,000 | Common | SOLE |
| 743312AB6 | PRGS 1 04/15/26 | PROGRESS SOFTWARE CORP | $17.3M | 1.26% | 17,327,000 | Common | SOLE |
| 011642AB1 | ALRM 0 01/15/26 | ALARM COM HLDGS INC | $17.0M | 1.24% | 17,000,000 | Common | SOLE |
| 10316TAD6 | BOX 1.5 09/15/29 | BOX INC | $12.2M | 0.89% | 12,500,000 | Common | SOLE |
| 501812AB7 | LCII 1.125 05/15/26 | LCI INDS | $9.1M | 0.66% | 9,152,000 | Common | SOLE |
| 31188VAB6 | FSLY 0 03/15/26 | FASTLY INC | $7.4M | 0.54% | 7,432,000 | Common | SOLE |
| 819047AB7 | SHAK 0 03/01/28 | SHAKE SHACK INC | $6.6M | 0.48% | 7,000,000 | Common | SOLE |
| 83304AAF3 | SNAP 0 05/01/27 | SNAP INC | $5.2M | 0.38% | 5,500,000 | Common | SOLE |
| 67059NAK4 | NTNX 0.5 12/15/29 | NUTANIX INC | $4.8M | 0.35% | 5,000,000 | Common | SOLE |
| 194014AB2 | ENOV 3.875 10/15/28 | ENOVIS CORPORATION | $4.4M | 0.32% | 4,500,000 | Common | SOLE |
| 29786AAN6 | ETSY 0.25 06/15/28 | ETSY INC | $4.3M | 0.31% | 4,809,000 | Common | SOLE |
| 81141RAG5 | SEALTD 0.25 09/15/26 | SEA LTD | $2.4M | 0.18% | 2,500,000 | Common | SOLE |
| 759916AD1 | RGEN 1 12/15/28 | REPLIGEN CORP | $2.4M | 0.17% | 2,181,000 | 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.