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DG Capital Management, LLC

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13F filer, CIK 1512716, NEW YORK, NY

DG Capital Management, LLC reported $227,944,279 across 21 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 98.8% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001512716-26-000007

Period
2025-12-31
Reported value
$228M
Holdings
21
Top 10 weight
98.8%
New
7
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ACICadded+90,545$1.14M
TLNnew+2,512$942K
TISInew+64,647$913K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BURreduced-2,084,514-$18.6M
MAGNreduced-1,127,943-$17.1M
ATEXreduced-723,299-$15.8M
CZRreduced-638,892-$14.9M
GLNGreduced-112,619-$4.19M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001512716-26-000007, largest first. % of portfolio is the value over $124,352,844, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MCYMERCURY GENL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 585,372 shares; 2025Q2: 608,585 shares; 2025Q3: 650,716 shares; 2025Q4: 619,469 shares 619,469$58.3M46.86%-31,247Timeline
ACICAMERICAN COASTAL INS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 900,511 shares; 2025Q3: 982,183 shares; 2025Q4: 1,072,728 shares 1,072,728$13.5M10.9%+90,545Timeline
CAPRCAPRICOR THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 470,333 shares; 2025Q4: 413,963 shares 413,963$11.9M9.61%-56,370Timeline
GELGENESIS ENERGY L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,917 shares; 2024Q4: 188,917 shares; 2025Q1: 210,417 shares; 2025Q2: 217,227 shares; 2025Q3: 218,280 shares; 2025Q4: 172,916 shares 172,916$2.7M2.17%-45,364Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 269,030 shares; 2024Q4: 158,175 shares; 2025Q1: 132,056 shares; 2025Q2: 32,061 shares; 2025Q3: not reported; 2025Q4: 2,512 shares 2,512$942K0.76%newTimeline
TISITEAM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 64,647 shares 64,647$913K0.73%newTimeline
BURBURFORD CAPITAL LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,234,175 shares; 2024Q4: 1,286,472 shares; 2025Q1: 1,614,006 shares; 2025Q2: 1,967,713 shares; 2025Q3: 2,177,321 shares; 2025Q4: 92,807 shares 92,807$828K0.67%-2,084,514Timeline
CZRCAESARS ENTERTAINMENT INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 496,446 shares; 2024Q4: 25,556 shares; 2025Q1: 721,993 shares; 2025Q2: 711,993 shares; 2025Q3: 669,607 shares; 2025Q4: 30,715 shares 30,715$718K0.58%-638,892Timeline
MAGNMAGNERA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 348,954 shares; 2025Q1: 760,278 shares; 2025Q2: 878,849 shares; 2025Q3: 1,164,718 shares; 2025Q4: 36,775 shares 36,775$557K0.45%-1,127,943Timeline
ATEXANTERIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 429,015 shares; 2025Q1: 644,413 shares; 2025Q2: 858,039 shares; 2025Q3: 744,544 shares; 2025Q4: 21,245 shares 21,245$464K0.37%-723,299Timeline
UTHRUNITED THERAPEUTICS CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 558 shares; 2025Q4: 558 shares 558$272K0.22%0Timeline
GLNGGOLAR LNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 118,100 shares; 2025Q4: 5,481 shares 5,481$204K0.16%-112,619Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
MCYMERCURY GENL CORP NEW COMcall485,200$45.6M+156,500
SPYSTATE STR SPDR S&P 500 ETF T SHSput50,000$34.1Mnew
TLTISHARES TR 20 YR TR BD ETFcall100,000$8.72M-300,000
OKLOOKLO INC Stockput111,500$8Mnew
GELGENESIS ENERGY L P UNIT LTD PARTNcall266,800$4.16M-72,900
SMRNUSCALE PWR CORP Stockput178,000$2.52Mnew
ACICAMERICAN COASTAL INS CORP COMMON STOCKcall36,100$456Knew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
SAREPTA THERAPEUTICS INCSAREPTA THERAPEUTICS INC NOTE 1.250% 9/1principal22,245,000$20M+250,000
RIOT PLATFORMS INCRIOT PLATFORMS INC NOTE 0.750% 1/1principal11,500,000$13Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
GEOGEO GROUP INC978,200$20Mcall
IWMISHARES TR70,000$16.9Mput
CXWCORECIVIC INC420,700$8.56Mcall
XPOFXPONENTIAL FITNESS INC184,546$1.44Mshares
CYHCOMMUNITY HEALTH SYS INC NEW77,100$247Kcall
ECXWWECARX HOLDINGS INC46,113$2.4Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001512716-26-000007 base2026-02-13acceptance time not in the bulk data set