Q3 2025 · 13F-HR
SHENKMAN CAPITAL MANAGEMENT INCholdings as filed
Filed 2025-11-10 · accession 0001275228-25-000002
$1.02B
Reported value
123
Positions
2025-09-30
Period end
The Brief · SHENKMAN CAPITAL MANAGEMENT INC · Q3 2025
AI · grounded in 13F
SHENKMAN CAPITAL MANAGEMENT INC established a new position in ETSY INC [[stock:ETSY 0.25 06/15/28]] valued at $58.7M. The fund also initiated new stakes in UNITI GROUP LLC [[stock:UNIT 7.5 12/01/27]] for $42.9M and INVESCO EXCH TRADED FD TR II BKLN for $39.9M. Additional new positions include DUKE ENERGY CORP NEW [[stock:DUK 4.125 04/15/26]] at $33.2M and SNAP INC [[stock:SNAP 0.5 05/01/30]] at $24.6M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 29786AAN6 | ETSY 0.25 06/15/28 | ETSY INC | $58.7M | 5.77% | 66,215,000 | Common | SOLE |
| 91325VAB4 | UNIT 7.5 12/01/27 | UNITI GROUP LLC | $42.9M | 4.22% | 37,773,000 | Common | SOLE |
| 46138G508 | BKLN | INVESCO EXCH TRADED FD TR II | $39.9M | 3.93% | 1,907,890 | Common | SOLE |
| 26441CBY0 | DUK 4.125 04/15/26 | DUKE ENERGY CORP NEW | $33.2M | 3.26% | 30,181,000 | Common | SOLE |
| 83304AAK2 | SNAP 0.5 05/01/30 | SNAP INC | $24.6M | 2.41% | 28,421,000 | Common | SOLE |
| 842587DZ7 | SO 4.5 06/15/27 | SOUTHERN CO | $24.5M | 2.41% | 21,723,000 | Common | SOLE |
| 125896BX7 | CMS 3.375 05/01/28 | CMS ENERGY CORP | $23.7M | 2.33% | 21,293,000 | Common | SOLE |
| 37940XAU6 | GPN 1.5 03/01/31 | GLOBAL PMTS INC | $22.9M | 2.25% | 24,639,000 | Common | SOLE |
| 922280AD4 | VRNS 1 09/15/29 | VARONIS SYS INC | $20.0M | 1.97% | 18,188,000 | Common | SOLE |
| 25402DAB8 | DOCN 0 12/01/26 | DIGITALOCEAN HLDGS INC | $18.0M | 1.77% | 19,044,000 | Common | SOLE |
| 337932AR8 | FE 4 05/01/26 | FIRSTENERGY CORP | $16.9M | 1.66% | 15,984,000 | Common | SOLE |
| 40131MAD1 | GH 1.25 02/15/31 | GUARDANT HEALTH INC | $15.1M | 1.48% | 11,530,000 | Common | SOLE |
| 26210CAD6 | DBX 0 03/01/28 | DROPBOX INC | $15.1M | 1.48% | 14,349,000 | Common | SOLE |
| 595017BG8 | MCHP 0.75 06/01/30 | MICROCHIP TECHNOLOGY INC. | $14.9M | 1.46% | 15,048,000 | Common | SOLE |
| 86800UAB0 | SMCI 3.5 03/01/29 | SUPER MICRO COMPUTER INC | $14.8M | 1.46% | 14,378,000 | Common | SOLE |
| 09239BAF6 | BL 1 06/01/29 | BLACKLINE INC | $14.7M | 1.45% | 13,853,000 | Common | SOLE |
| 10316TAD6 | BOX 1.5 09/15/29 | BOX INC | $14.2M | 1.40% | 13,887,000 | Common | SOLE |
| 09709UV70 | BAC 0.6 05/25/27 MTN | BOFA FIN LLC | $14.1M | 1.39% | 14,054,000 | Common | SOLE |
| 08265TAB5 | BSY 0.125 01/15/26 | BENTLEY SYS INC | $13.9M | 1.36% | 13,741,000 | Common | SOLE |
| 65339KCY4 | NEE 3 03/01/27 | NEXTERA ENERGY CAP HLDGS INC | $13.3M | 1.31% | 11,110,000 | Common | SOLE |
| 278768AB2 | SATS 3.875 11/30/30 | ECHOSTAR CORP | $13.2M | 1.30% | 5,268,888 | Common | SOLE |
| 472145AH4 | JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $12.9M | 1.27% | 10,620,000 | Common | SOLE |
| 47215PAJ5 | JD 0.25 06/01/29 | JD.COM INC | $12.9M | 1.26% | 11,987,000 | Common | SOLE |
| 682189AU9 | ON 0.5 03/01/29 | ON SEMICONDUCTOR CORP | $12.5M | 1.23% | 13,271,000 | Common | SOLE |
| 55306NAB0 | MKSI 1.25 06/01/30 | MKS INC. | $12.4M | 1.22% | 11,102,000 | Common | SOLE |
| 126349AH2 | CSGS 3.875 09/15/28 | CSG SYS INTL INC | $12.4M | 1.22% | 10,951,000 | Common | SOLE |
| 46435U853 | USHY | ISHARES TR | $12.1M | 1.19% | 320,900 | Common | SOLE |
| 70202LAD4 | PSN 2.625 03/01/29 | PARSONS CORP DEL | $12.0M | 1.18% | 10,122,000 | Common | SOLE |
| 737446AT1 | POST 2.5 08/15/27 | POST HLDGS INC | $11.7M | 1.15% | 10,200,000 | Common | SOLE |
| 405024AD2 | HAE 2.5 06/01/29 | HAEMONETICS CORP MASS | $11.6M | 1.14% | 12,141,000 | Common | SOLE |
| 343412AJ1 | FLR 1.125 08/15/29 | FLUOR CORP | $11.5M | 1.13% | 9,284,000 | Common | SOLE |
| 75737FAE8 | RDFN 0.5 04/01/27 | REDFIN CORP | $11.2M | 1.10% | 12,041,000 | Common | SOLE |
| 78573NAK8 | SABHLD 7.32 08/01/26 | SABRE GLBL INC | $11.2M | 1.10% | 10,798,000 | Common | SOLE |
| 194014AB2 | ENOV 3.875 10/15/28 | ENOVIS CORPORATION | $11.0M | 1.08% | 10,722,000 | Common | SOLE |
| 902252AB1 | TYL 0.25 03/15/26 | TYLER TEX INDPT SCH DIST | $10.9M | 1.07% | 9,716,000 | Common | SOLE |
| 30034WAD8 | EVRG 4.5 12/15/27 | EVERGY INC | $10.7M | 1.06% | 8,314,000 | Common | SOLE |
| 465741AQ9 | ITRI 1.375 07/15/30 | ITRON INC | $10.7M | 1.05% | 9,119,000 | Common | SOLE |
| 82452JAD1 | FOUR 0.5 08/01/27 | SHIFT4 PMTS INC | $10.5M | 1.03% | 10,444,000 | Common | SOLE |
| 62957HAL9 | NBR 1.75 06/15/29 | NABORS INDS INC | $10.3M | 1.01% | 12,850,000 | Common | SOLE |
| 88162GAB9 | TTEK 2.25 08/15/28 | TETRA TECH INC NEW | $10.2M | 1.00% | 9,107,000 | Common | SOLE |
| 393657AM3 | GBX 2.875 04/15/28 | GREENBRIER COS INC | $10.1M | 0.99% | 9,154,000 | Common | SOLE |
| 345370CZ1 | F 0 03/15/26 | FORD MTR CO | $10.1M | 0.99% | 9,848,000 | Common | SOLE |
| 759916AD1 | RGEN 1 12/15/28 | REPLIGEN CORP | $9.8M | 0.96% | 9,469,000 | Common | SOLE |
| 531229AP7 | SIRI 3.75 03/15/28 | LIBERTY MEDIA CORP DEL | $9.5M | 0.93% | 8,866,000 | Common | SOLE |
| 686688AB8 | ORA 2.5 07/15/27 | ORMAT TECHNOLOGIES INC | $9.4M | 0.93% | 7,641,000 | Common | SOLE |
| 92538JAB2 | VERX 0.75 05/01/29 | VERTEX INC | $9.3M | 0.91% | 8,935,000 | Common | SOLE |
| 90353TAM2 | UBER 0.875 12/01/28 2028 | UBER TECHNOLOGIES INC | $9.0M | 0.88% | 6,093,000 | Common | SOLE |
| 57164YAF4 | VAC 3.25 12/15/27 | MARRIOTT VACATIONS WORLDWIDE | $8.9M | 0.87% | 9,191,000 | Common | SOLE |
| 743312AD2 | PRGS 3.5 03/01/30 | PROGRESS SOFTWARE CORP | $8.6M | 0.85% | 8,321,000 | Common | SOLE |
| 98149GAB6 | WKC 3.25 07/01/28 | WORLD KINECT CORPORATION | $8.6M | 0.84% | 7,589,000 | Common | SOLE |
| 008073AA6 | AVAV 0 07/15/30 | AEROVIRONMENT INC | $8.4M | 0.83% | 6,650,000 | Common | SOLE |
| 53802LAB8 | LIVN 2.5 03/15/29 | LIVANOVA PLC | $8.4M | 0.82% | 7,612,000 | Common | SOLE |
| 465741AN6 | ITRI 0 03/15/26 | ITRON INC | $8.1M | 0.80% | 7,650,000 | Common | SOLE |
| 78468R408 | SJNK | SPDR SERIES TRUST | $7.7M | 0.76% | 300,045 | Common | SOLE |
| 92277GAZ0 | VTR 3.75 06/01/26 | VENTAS RLTY LTD PARTNERSHIP | $7.5M | 0.74% | 5,644,000 | Common | SOLE |
| 89422GAA5 | TVTX 2.25 03/01/29 | TRAVERE THERAPEUTICS INC | $7.2M | 0.71% | 6,237,000 | Common | SOLE |
| 665531AJ8 | NOG 3.625 04/15/29 | NORTHERN OIL & GAS INC | $7.2M | 0.71% | 6,899,000 | Common | SOLE |
| 462222AF7 | IONS 1.75 06/15/28 | IONIS PHARMACEUTICALS INC | $7.1M | 0.70% | 5,058,000 | Common | SOLE |
| 98139AAD7 | WK 1.25 08/15/28 | WORKIVA INC | $7.0M | 0.69% | 6,956,000 | Common | SOLE |
| 90353TAJ9 | UBER 0 12/15/25 | UBER TECHNOLOGIES INC | $6.9M | 0.68% | 5,694,000 | Common | SOLE |
| 10806XAD4 | BBIO 2.25 02/01/29 | BRIDGEBIO PHARMA INC | $6.8M | 0.67% | 6,740,000 | Common | SOLE |
| 902681AB1 | UGI 5 06/01/28 | UGI CORP NEW | $6.8M | 0.67% | 5,135,000 | Common | SOLE |
| 875372AD6 | TNDM 1.5 03/15/29 2024 | TANDEM DIABETES CARE INC | $6.7M | 0.66% | 7,451,000 | Common | SOLE |
| 928298AR9 | VSH 2.25 09/15/30 | VISHAY INTERTECHNOLOGY INC | $6.5M | 0.64% | 6,995,000 | Common | SOLE |
| 531229AQ5 | FWONK 2.25 08/15/27 | LIBERTY MEDIA CORP DEL | $6.3M | 0.62% | 4,669,000 | Common | SOLE |
| 59001ABF8 | MTH 1.75 05/15/28 | MERITAGE HOMES CORP | $6.2M | 0.61% | 5,918,000 | Common | SOLE |
| 007973AE0 | AEIS 2.5 09/15/28 | ADVANCED ENERGY INDS | $5.8M | 0.57% | 4,148,000 | Common | SOLE |
| 89677QAB3 | TCOM 0.75 06/15/29 | TRIP COM GROUP LTD | $5.8M | 0.57% | 4,543,000 | Common | SOLE |
| 893830BW8 | RIG | TRANSOCEAN INC | $5.4M | 0.53% | 4,506,000 | Common | SOLE |
| 69352PAS2 | PPL 2.875 03/15/28 | PPL CAP FDG INC | $5.4M | 0.53% | 4,734,000 | Common | SOLE |
| 76954AAD5 | RIVN 3.625 10/15/30 | RIVIAN AUTOMOTIVE INC | $5.1M | 0.50% | 5,343,000 | Common | SOLE |
| 92939UAP1 | WEC 4.375 06/01/27 | WEC ENERGY GROUP INC | $4.8M | 0.47% | 3,974,000 | Common | SOLE |
| 18453H106 | CCO | CLEAR CHANNEL OUTDOOR HLDGS | $4.7M | 0.46% | 2,954,589 | Common | SOLE |
| 03040WBE4 | AWK 3.625 06/15/26 | AMERICAN WTR CAP CORP | $4.7M | 0.46% | 4,594,000 | Common | SOLE |
| 87918AAF2 | TDOC 1.25 06/01/27 | TELADOC HEALTH INC | $4.5M | 0.44% | 4,795,000 | Common | SOLE |
| 819047AB7 | SHAK 0 03/01/28 | SHAKE SHACK INC | $4.4M | 0.44% | 4,574,000 | Common | SOLE |
| 92939UAR7 | WEC 4.375 06/01/29 | WEC ENERGY GROUP INC | $4.4M | 0.44% | 3,571,000 | Common | SOLE |
| 04351PAD3 | ASND 2.25 04/01/28 | ASCENDIS PHARMA A/S | $4.4M | 0.43% | 3,136,000 | Common | SOLE |
| 02156K103 | OPTU | ALTICE USA INC | $4.4M | 0.43% | 1,801,300 | Common | SOLE |
| 50202MAB8 | LI 0.25 05/01/28 | LI AUTO INC | $4.4M | 0.43% | 3,822,000 | Common | SOLE |
| 40637HAD1 | HALO 0.25 03/01/27 | HALOZYME THERAPEUTICS INC | $4.2M | 0.41% | 3,602,000 | Common | SOLE |
| 671044AF2 | OSIS 2.25 08/01/29 | OSI SYSTEMS INC | $3.8M | 0.37% | 2,543,000 | Common | SOLE |
| 00971TAN1 | AKAM 1.125 02/15/29 | AKAMAI TECHNOLOGIES INC | $3.7M | 0.37% | 3,899,000 | Common | SOLE |
| 011642AD7 | ALRM 2.25 06/01/29 | ALARM COM HLDGS INC | $3.4M | 0.33% | 3,412,000 | Common | SOLE |
| 516544AB9 | LNTH 2.625 12/15/27 | LANTHEUS HLDGS INC | $3.3M | 0.32% | 3,009,000 | Common | SOLE |
| 55024UAF6 | LITE 0.5 06/15/28 | LUMENTUM HLDGS INC | $2.9M | 0.28% | 2,074,000 | Common | SOLE |
| 018802AC2 | LNT 3.875 03/15/26 | ALLIANT ENERGY CORP | $2.9M | 0.28% | 2,670,000 | Common | SOLE |
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $2.8M | 0.27% | 1,517,000 | Common | SOLE |
| 19260QAF4 | COIN 0.25 04/01/30 | COINBASE GLOBAL INC | $2.3M | 0.23% | 1,826,000 | Common | SOLE |
| 55087PAD6 | LYFT 0.625 03/01/29 | LYFT INC | $2.3M | 0.22% | 1,705,000 | Common | SOLE |
| 86614G101 | SMC | SUMMIT MIDSTREAM CORPORATION | $2.0M | 0.20% | 96,723 | Common | SOLE |
| 19260QAB3 | COIN 0.5 06/01/26 | COINBASE GLOBAL INC | $1.9M | 0.19% | 1,750,000 | Common | SOLE |
| 30212PBE4 | EXPE 0 02/15/26 | EXPEDIA GROUP INC | $1.9M | 0.19% | 1,928,000 | Common | SOLE |
| 29415FAD6 | NVST 1.75 08/15/28 | ENVISTA HOLDINGS CORPORATION | $1.9M | 0.19% | 1,996,000 | Common | SOLE |
| 40637HAF6 | HALO 1 08/15/28 | HALOZYME THERAPEUTICS INC | $1.3M | 0.12% | 900,000 | Common | SOLE |
| 530715AL5 | LINTA 3.75 02/15/30 | LIBERTY MEDIA CORP DEL | $1.2M | 0.12% | 12,136,000 | Common | SOLE |
| 76954AAB9 | RIVN 4.625 03/15/29 | RIVIAN AUTOMOTIVE INC | $1.2M | 0.12% | 1,126,000 | Common | SOLE |
| 00971TAL5 | AKAM 0.375 09/01/27 | AKAMAI TECHNOLOGIES INC | $1.1M | 0.11% | 1,137,000 | Common | SOLE |
| 62886HBD2 | NCLH 1.125 02/15/27 | NCL CORP LTD | $1.1M | 0.11% | 1,048,000 | Common | SOLE |
| 472145AF8 | JAZZ 2 06/15/26 | JAZZ INVESTMENTS I LTD | $1.0M | 0.10% | 939,000 | Common | SOLE |
| 833445AB5 | SNOW 0 10/01/27 | SNOWFLAKE INC | $814,452 | 0.08% | 536,000 | Common | SOLE |
| 682189AS4 | ON 0 05/01/27 | ON SEMICONDUCTOR CORP | $802,912 | 0.08% | 704,000 | Common | SOLE |
| 450056AB2 | IRTC 1.5 09/01/29 | IRHYTHM TECHNOLOGIES INC | $755,281 | 0.07% | 548,000 | Common | SOLE |
| 10806XAB8 | BBIO 2.5 03/15/27 | BRIDGEBIO PHARMA INC | $690,769 | 0.07% | 491,000 | Common | SOLE |
| 15189TBD8 | CNP 4.25 08/15/26 | CENTERPOINT ENERGY INC | $573,498 | 0.06% | 513,000 | Common | SOLE |
| 94419LAP6 | W 3.25 09/15/27 | WAYFAIR INC | $549,980 | 0.05% | 360,000 | Common | SOLE |
| 82452JAB5 | FOUR 0 12/15/25 | SHIFT4 PMTS INC | $538,934 | 0.05% | 524,000 | Common | SOLE |
| 44332NAB2 | HTHT 3 05/01/26 | H WORLD GROUP LTD | $453,618 | 0.04% | 404,000 | Common | SOLE |
| 23282WAC4 | CYTK 3.5 07/01/27 | CYTOKINETICS INC | $443,412 | 0.04% | 339,000 | Common | SOLE |
| 477839AB0 | JBTM 0.25 05/15/26 | JBT MAREL CORPORATION | $339,102 | 0.03% | 335,000 | Common | SOLE |
| 743312AB6 | PRGS 1 04/15/26 | PROGRESS SOFTWARE CORP | $327,067 | 0.03% | 325,000 | Common | SOLE |
| 477143AR2 | JBLU 2.5 09/01/29 | JETBLUE AIRWAYS CORP | $195,442 | 0.02% | 188,000 | Common | SOLE |
| 92343XAC4 | VRNT 0.25 04/15/26 | VERINT SYSTEMS INC | $178,797 | 0.02% | 182,000 | Common | SOLE |
| 94419LAR2 | W 3.5 11/15/28 | WAYFAIR INC | $160,870 | 0.02% | 77,000 | Common | SOLE |
| 57164YAD9 | VAC 0 01/15/26 | MARRIOTT VACATIONS WORLDWIDE | $132,084 | 0.01% | 134,000 | Common | SOLE |
| 29786AAJ5 | ETSY 0.125 10/01/26 | ETSY INC | $126,573 | 0.01% | 120,000 | Common | SOLE |
| 55405YAB6 | MTSI 0.25 03/15/26 | MACOM TECH SOLUTIONS HLDGS I | $109,350 | 0.01% | 72,000 | Common | SOLE |
| 48123VAE2 | ZD 1.75 11/01/26 | ZIFF DAVIS INC | $106,595 | 0.01% | 110,000 | Common | SOLE |
| 462222AD2 | IONS 0 04/01/26 | IONIS PHARMACEUTICALS INC | $83,691 | 0.01% | 68,000 | Common | SOLE |
| 833445AD1 | SNOW 0 10/01/29 | SNOWFLAKE INC | $61,128 | 0.01% | 39,000 | Common | SOLE |
| 252131AM9 | DXCM 0.375 05/15/28 | DEXCOM INC | $54,850 | 0.01% | 60,000 | Common | SOLE |
| 83304AAF3 | SNAP 0 05/01/27 | SNAP INC | $25,900 | 0.00% | 28,000 | Common | SOLE |
| 84921RAB6 | SPOT 0 03/15/26 | SPOTIFY USA INC | $16,428 | 0.00% | 12,000 | 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.