Q4 2025 · 13F-HR
SHENKMAN CAPITAL MANAGEMENT INCholdings as filed
Filed 2026-02-10 · accession 0001275228-26-000002
$947.8M
Reported value
97
Positions
2025-12-31
Period end
The Brief · SHENKMAN CAPITAL MANAGEMENT INC · Q4 2025
AI · grounded in 13F
SHENKMAN CAPITAL MANAGEMENT INC closed its position in [[stock:SNAP 0.5 05/01/30]], reducing exposure by $24.55M. The fund established new positions in [[stock:DDOG 0 12/01/29]] for $19.4M and [[stock:MSTR 0 12/01/29]] for $15.65M. Other notable exits included closing positions in [[stock:GH 1.25 02/15/31]] and [[stock:SATS 3.875 11/30/30]].
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 46138G508 | BKLN | INVESCO EXCH TRADED FD TR II | $62.6M | 6.61% | 2,889,660 | Common | SOLE |
| 29786AAN6 | ETSY 0.25 06/15/28 | ETSY INC | $50.9M | 5.37% | 56,775,000 | Common | SOLE |
| 46435U853 | USHY | ISHARES TR | $48.1M | 5.08% | 1,280,225 | Common | SOLE |
| 78468R408 | SJNK | SPDR SERIES TRUST | $37.5M | 3.96% | 1,443,140 | Common | SOLE |
| 70202LAD4 | PSN 2.625 03/01/29 | PARSONS CORP DEL | $30.7M | 3.24% | 28,005,000 | Common | SOLE |
| 91325VAB4 | UNIT 7.5 12/01/27 | UNITI GROUP LLC | $26.8M | 2.83% | 23,315,000 | Common | SOLE |
| 26441CBY0 | DUK 4.125 04/15/26 | DUKE ENERGY CORP NEW | $25.9M | 2.73% | 24,688,000 | Common | SOLE |
| 26210CAD6 | DBX 0 03/01/28 | DROPBOX INC | $22.0M | 2.32% | 21,517,000 | Common | SOLE |
| 86800UAB0 | SMCI 3.5 03/01/29 | SUPER MICRO COMPUTER INC | $21.9M | 2.31% | 23,793,000 | Common | SOLE |
| 23804LAD5 | DDOG 0 12/01/29 | DATADOG INC | $19.4M | 2.05% | 19,012,000 | Common | SOLE |
| 09239BAF6 | BL 1 06/01/29 | BLACKLINE INC | $18.2M | 1.92% | 16,966,000 | Common | SOLE |
| 37940XAU6 | GPN 1.5 03/01/31 | GLOBAL PMTS INC | $17.9M | 1.89% | 19,524,000 | Common | SOLE |
| 01609WBG6 | BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $17.2M | 1.82% | 11,126,000 | Common | SOLE |
| 682189AU9 | ON 0.5 03/01/29 | ON SEMICONDUCTOR CORP | $16.3M | 1.72% | 16,920,000 | Common | SOLE |
| 25402DAB8 | DOCN 0 12/01/26 | DIGITALOCEAN HLDGS INC | $16.2M | 1.71% | 16,732,000 | Common | SOLE |
| 00971TAN1 | AKAM 1.125 02/15/29 | AKAMAI TECHNOLOGIES INC | $15.7M | 1.66% | 15,560,000 | Common | SOLE |
| 594972AS0 | MSTR 0 12/01/29 | STRATEGY INC | $15.6M | 1.65% | 19,000,000 | Common | SOLE |
| 465741AN6 | ITRI 0 03/15/26 | ITRON INC | $15.5M | 1.64% | 15,671,000 | Common | SOLE |
| 337932AR8 | FE 4 05/01/26 | FIRSTENERGY CORP | $15.1M | 1.59% | 14,623,000 | Common | SOLE |
| 47215PAJ5 | JD 0.25 06/01/29 | JD.COM INC | $14.7M | 1.55% | 14,749,000 | Common | SOLE |
| 922280AD4 | VRNS 1 09/15/29 | VARONIS SYS INC | $14.7M | 1.55% | 15,600,000 | Common | SOLE |
| 55306NAB0 | MKSI 1.25 06/01/30 | MKS INC. | $14.2M | 1.50% | 10,983,000 | Common | SOLE |
| 09709UV70 | BAC 0.6 05/25/27 MTN | BOFA FIN LLC | $14.1M | 1.49% | 12,896,000 | Common | SOLE |
| 125896BX7 | CMS 3.375 05/01/28 | CMS ENERGY CORP | $12.5M | 1.32% | 11,597,000 | Common | SOLE |
| 10806XAD4 | BBIO 2.25 02/01/29 | BRIDGEBIO PHARMA INC | $12.4M | 1.31% | 10,707,000 | Common | SOLE |
| 194014AB2 | ENOV 3.875 10/15/28 | ENOVIS CORPORATION | $12.2M | 1.29% | 12,112,000 | Common | SOLE |
| 75737FAE8 | RDFN 0.5 04/01/27 | REDFIN CORP | $11.3M | 1.20% | 12,041,000 | Common | SOLE |
| 78573NAK8 | SABHLD 7.32 08/01/26 | SABRE GLBL INC | $11.3M | 1.20% | 10,775,000 | Common | SOLE |
| 759916AD1 | RGEN 1 12/15/28 | REPLIGEN CORP | $11.3M | 1.19% | 10,114,000 | Common | SOLE |
| 76954AAD5 | RIVN 3.625 10/15/30 | RIVIAN AUTOMOTIVE INC | $10.8M | 1.14% | 9,519,000 | Common | SOLE |
| 343412AJ1 | FLR 1.125 08/15/29 | FLUOR CORP | $10.7M | 1.13% | 9,062,000 | Common | SOLE |
| 67059NAK4 | NTNX 0.5 12/15/29 | NUTANIX INC | $10.6M | 1.12% | 10,749,000 | Common | SOLE |
| 902252AB1 | TYL 0.25 03/15/26 | TYLER TEX INDPT SCH DIST | $10.5M | 1.11% | 10,129,000 | Common | SOLE |
| 65339KCY4 | NEE 3 03/01/27 | NEXTERA ENERGY CAP HLDGS INC | $10.4M | 1.10% | 8,198,000 | Common | SOLE |
| 393657AM3 | GBX 2.875 04/15/28 | GREENBRIER COS INC | $10.0M | 1.05% | 9,047,000 | Common | SOLE |
| 531229AP7 | SIRI 3.75 03/15/28 | LIBERTY MEDIA CORP DEL | $9.8M | 1.03% | 9,408,000 | Common | SOLE |
| 89422GAA5 | TVTX 2.25 03/01/29 | TRAVERE THERAPEUTICS INC | $9.8M | 1.03% | 6,662,000 | Common | SOLE |
| 88162GAB9 | TTEK 2.25 08/15/28 | TETRA TECH INC NEW | $9.7M | 1.03% | 8,656,000 | Common | SOLE |
| 53802LAB8 | LIVN 2.5 03/15/29 | LIVANOVA PLC | $9.5M | 1.00% | 7,969,000 | Common | SOLE |
| 465741AQ9 | ITRI 1.375 07/15/30 | ITRON INC | $8.9M | 0.94% | 8,622,000 | Common | SOLE |
| 98149GAB6 | WKC 3.25 07/01/28 | WORLD KINECT CORPORATION | $8.8M | 0.93% | 8,059,000 | Common | SOLE |
| 875372AD6 | TNDM 1.5 03/15/29 2024 | TANDEM DIABETES CARE INC | $8.3M | 0.88% | 7,947,000 | Common | SOLE |
| 83419XAB4 | SEI 0.25 10/01/31 | SOLARIS ENERGY INFRAS INC | $8.3M | 0.87% | 7,500,000 | Common | SOLE |
| 57164YAF4 | VAC 3.25 12/15/27 | MARRIOTT VACATIONS WORLDWIDE | $8.1M | 0.86% | 8,529,000 | Common | SOLE |
| 10316TAD6 | BOX 1.5 09/15/29 | BOX INC | $7.9M | 0.84% | 8,091,000 | Common | SOLE |
| 30034WAD8 | EVRG 4.5 12/15/27 | EVERGY INC | $7.9M | 0.83% | 6,339,000 | Common | SOLE |
| 92538JAB2 | VERX 0.75 05/01/29 | VERTEX INC | $7.7M | 0.82% | 7,973,000 | Common | SOLE |
| 01625VAB0 | ALHC 4.25 11/15/29 | ALIGNMENT HEALTHCARE INC | $7.7M | 0.81% | 4,954,000 | Common | SOLE |
| 686688AB8 | ORA 2.5 07/15/27 | ORMAT TECHNOLOGIES INC | $7.6M | 0.80% | 5,481,000 | Common | SOLE |
| 98139AAD7 | WK 1.25 08/15/28 | WORKIVA INC | $7.5M | 0.79% | 7,357,000 | Common | SOLE |
| 665531AJ8 | NOG 3.625 04/15/29 | NORTHERN OIL & GAS INC | $7.3M | 0.77% | 7,339,000 | Common | SOLE |
| 928298AR9 | VSH 2.25 09/15/30 | VISHAY INTERTECHNOLOGY INC | $6.9M | 0.73% | 7,437,000 | Common | SOLE |
| 18453H106 | CCO | CLEAR CHANNEL OUTDOOR HLDGS | $6.5M | 0.69% | 2,954,589 | Common | SOLE |
| 40171VAC4 | GWRE 1.25 11/01/29 | GUIDEWIRE SOFTWARE INC | $6.5M | 0.68% | 5,758,000 | Common | SOLE |
| 87157DAJ8 | SYNA 0.75 12/01/31 | SYNAPTICS INC | $6.4M | 0.67% | 5,922,000 | Common | SOLE |
| 531229AQ5 | FWONK 2.25 08/15/27 | LIBERTY MEDIA CORP DEL | $6.3M | 0.66% | 4,853,000 | Common | SOLE |
| 538034BC2 | LYV 2.875 01/15/30 | LIVE NATION ENTERTAINMENT IN | $6.2M | 0.65% | 5,561,000 | Common | SOLE |
| 34379VAB9 | FLNC 2.25 06/15/30 | FLUENCE ENERGY INC | $6.1M | 0.65% | 5,000,000 | Common | SOLE |
| 737446AT1 | POST 2.5 08/15/27 | POST HLDGS INC | $6.0M | 0.63% | 5,415,000 | Common | SOLE |
| 007973AE0 | AEIS 2.5 09/15/28 | ADVANCED ENERGY INDS | $5.9M | 0.62% | 3,536,000 | Common | SOLE |
| 842587DZ7 | SO 4.5 06/15/27 | SOUTHERN CO | $5.5M | 0.58% | 5,093,000 | Common | SOLE |
| 008073AA6 | AVAV 0 07/15/30 | AEROVIRONMENT INC | $4.9M | 0.52% | 4,418,000 | Common | SOLE |
| 08265TAB5 | BSY 0.125 01/15/26 | BENTLEY SYS INC | $4.8M | 0.51% | 4,840,000 | Common | SOLE |
| 69352PAS2 | PPL 2.875 03/15/28 | PPL CAP FDG INC | $4.0M | 0.42% | 3,599,000 | Common | SOLE |
| 595017BG8 | MCHP 0.75 06/01/30 | MICROCHIP TECHNOLOGY INC. | $3.8M | 0.40% | 3,975,000 | Common | SOLE |
| 90353TAM2 | UBER 0.875 12/01/28 2028 | UBER TECHNOLOGIES INC | $3.6M | 0.38% | 2,746,000 | Common | SOLE |
| 92939UAP1 | WEC 4.375 06/01/27 | WEC ENERGY GROUP INC | $3.4M | 0.36% | 3,024,000 | Common | SOLE |
| 19260QAB3 | COIN 0.5 06/01/26 | COINBASE GLOBAL INC | $3.3M | 0.34% | 3,250,000 | Common | SOLE |
| 565788AH9 | MARA 0 06/01/31 | MARA HOLDINGS INC | $3.2M | 0.34% | 3,807,000 | Common | SOLE |
| 92939UAR7 | WEC 4.375 06/01/29 | WEC ENERGY GROUP INC | $2.7M | 0.29% | 2,336,000 | Common | SOLE |
| 92277GAZ0 | VTR 3.75 06/01/26 | VENTAS RLTY LTD PARTNERSHIP | $2.7M | 0.29% | 1,932,000 | Common | SOLE |
| 472145AH4 | JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $2.4M | 0.25% | 1,782,000 | Common | SOLE |
| 29415FAD6 | NVST 1.75 08/15/28 | ENVISTA HOLDINGS CORPORATION | $2.4M | 0.25% | 2,426,000 | Common | SOLE |
| 19260QAF4 | COIN 0.25 04/01/30 | COINBASE GLOBAL INC | $2.3M | 0.25% | 2,276,000 | Common | SOLE |
| 55087PAD6 | LYFT 0.625 03/01/29 | LYFT INC | $2.2M | 0.23% | 1,801,000 | Common | SOLE |
| 018802AC2 | LNT 3.875 03/15/26 | ALLIANT ENERGY CORP | $2.1M | 0.22% | 2,025,000 | Common | SOLE |
| 35834FAB0 | TE 5.25 12/01/30 | T1 ENERGY INC | $2.0M | 0.21% | 1,500,000 | Common | SOLE |
| 345370CZ1 | F 0 03/15/26 | FORD MTR CO | $1.9M | 0.20% | 1,835,000 | Common | SOLE |
| 477839AB0 | JBTM 0.25 05/15/26 | JBT MAREL CORPORATION | $1.8M | 0.20% | 1,783,000 | Common | SOLE |
| 89677QAB3 | TCOM 0.75 06/15/29 | TRIP COM GROUP LTD | $1.5M | 0.16% | 1,233,000 | Common | SOLE |
| 02156K103 | OPTU | OPTIMUM COMMUNICATIONS INC | $1.4M | 0.15% | 863,189 | Common | SOLE |
| 405024AD2 | HAE 2.5 06/01/29 | HAEMONETICS CORP MASS | $1.4M | 0.15% | 1,323,000 | Common | SOLE |
| 15189TBD8 | CNP 4.25 08/15/26 | CENTERPOINT ENERGY INC | $1.1M | 0.12% | 1,013,000 | Common | SOLE |
| 530715AL5 | LINTA 3.75 02/15/30 | LIBERTY MEDIA CORP DEL | $946,707 | 0.10% | 11,248,000 | Common | SOLE |
| 565788AF3 | MARA 0 03/01/30 | MARA HOLDINGS INC | $858,432 | 0.09% | 1,088,000 | Common | SOLE |
| 472145AF8 | JAZZ 2 06/15/26 | JAZZ INVESTMENTS I LTD | $741,648 | 0.08% | 639,000 | Common | SOLE |
| 04351PAD3 | ASND 2.25 04/01/28 | ASCENDIS PHARMA A/S | $626,047 | 0.07% | 439,000 | Common | SOLE |
| 44332NAB2 | HTHT 3 05/01/26 | H WORLD GROUP LTD | $517,322 | 0.05% | 404,000 | Common | SOLE |
| 08265TAD1 | BSY 0.375 07/01/27 | BENTLEY SYS INC | $496,059 | 0.05% | 525,000 | Common | SOLE |
| 23282WAC4 | CYTK 3.5 07/01/27 | CYTOKINETICS INC | $489,177 | 0.05% | 339,000 | Common | SOLE |
| 516544AB9 | LNTH 2.625 12/15/27 | LANTHEUS HLDGS INC | $433,330 | 0.05% | 377,000 | Common | SOLE |
| 00827BAD8 | AFRM 0.75 12/15/29 | AFFIRM HLDGS INC | $362,997 | 0.04% | 327,000 | Common | SOLE |
| 743312AB6 | PRGS 1 04/15/26 | PROGRESS SOFTWARE CORP | $324,630 | 0.03% | 325,000 | Common | SOLE |
| 62957HAL9 | NBR 1.75 06/15/29 | NABORS INDS INC | $244,643 | 0.03% | 300,000 | Common | SOLE |
| 477143AR2 | JBLU 2.5 09/01/29 | JETBLUE AIRWAYS CORP | $184,397 | 0.02% | 188,000 | Common | SOLE |
| 57164YAD9 | VAC 0 01/15/26 | MARRIOTT VACATIONS WORLDWIDE | $77,906 | 0.01% | 78,000 | Common | SOLE |
| 36467W117 | GME/WS | GAMESTOP CORP NEW | $59,824 | 0.01% | 19,614 | 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.