SHENKMAN CAPITAL MANAGEMENT INC
Follow13F filer, CIK 1275228, NEW YORK, NY
SHENKMAN CAPITAL MANAGEMENT INC reported $947,834,318 across 97 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-10. Its ten largest share positions make up 36.48% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001275228-26-000002
- Period
- 2025-12-31
- Reported value
- $948M
- Holdings
- 97
- Top 10 weight
- 36.48%
- New
- 15
- Sold out
- 41
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| USHYadded | +959,325 | $36.1M |
| SJNKadded | +1,143,095 | $29.7M |
| BKLNadded | +981,770 | $21.3M |
| GMEWSnew | +19,614 | $59.8K |
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
| Security | Shares change | Approx. value |
|---|---|---|
| SMCexited | -96,723 | -$1.99M |
| OPTUreduced | -938,111 | -$1.57M |
| TETRA TECH INC NEWreduced | -451,000 | -$508K |
| LIBERTY INTERACTIVE LLCreduced | -888,000 | -$74.7K |
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 0001275228-26-000002, largest first. % of portfolio is the value over $947,834,318, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| BKLNINVESCO EXCH TRADED FD TR II | 2,889,660 | $62.6M | 6.61% | +981,770 | Timeline | ||
| USHYISHARES TR | 1,280,225 | $48.1M | 5.08% | +959,325 | Timeline | ||
| SJNKSPDR SERIES TRUST | 1,443,140 | $37.5M | 3.96% | +1,143,095 | Timeline | ||
| TETRA TECH INC NEWTETRA TECH INC NEW | 8,656,000 | $9.75M | 1.03% | -451,000 | |||
| CCOCLEAR CHANNEL OUTDOOR HLDGS | 2,954,589 | $6.53M | 0.69% | 0 | Timeline | ||
| OPTUOPTIMUM COMMUNICATIONS INC | 863,189 | $1.44M | 0.15% | -938,111 | Timeline | ||
| LIBERTY INTERACTIVE LLCLIBERTY INTERACTIVE LLC | 11,248,000 | $947K | 0.1% | -888,000 | |||
| GMEWSGAMESTOP CORP NEW | 19,614 | $59.8K | 0.01% | new | Timeline |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| ETSY INCETSY INC NOTE 0.250% 6/1 | principal | 56,775,000 | $50.9M | -9,440,000 |
| PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0 | principal | 28,005,000 | $30.7M | +17,883,000 |
| UNITI GROUP LLCUNITI GROUP LLC COM | principal | 23,315,000 | $26.8M | -14,458,000 |
| DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW CONV BND | principal | 24,688,000 | $25.9M | -5,493,000 |
| DROPBOX INCDROPBOX INC NOTE 3/0 | principal | 21,517,000 | $22M | +7,168,000 |
| SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC NOTE 3.500% 3/0 | principal | 23,793,000 | $21.9M | +9,415,000 |
| DATADOG INCDATADOG INC NOTE 12/0 | principal | 19,012,000 | $19.4M | new |
| BLACKLINE INCBLACKLINE INC NOTE 1.000% 6/0 | principal | 16,966,000 | $18.2M | +3,113,000 |
| GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0 | principal | 19,524,000 | $17.9M | -5,115,000 |
| ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG LTD NOTE 0.500% 6/0 | principal | 11,126,000 | $17.2M | +9,609,000 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 0.500% 3/0 | principal | 16,920,000 | $16.3M | +3,649,000 |
| DIGITALOCEAN HLDGS INCDIGITALOCEAN HLDGS INC CNV | principal | 16,732,000 | $16.2M | -2,312,000 |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1 | principal | 15,560,000 | $15.7M | +11,661,000 |
| STRATEGY INCSTRATEGY INC NOTE12/0 | principal | 19,000,000 | $15.6M | new |
| ITRON INCITRON INC NOTE 3/1 | principal | 15,671,000 | $15.5M | +8,021,000 |
| FIRSTENERGY CORPFIRSTENERGY CORP NOTE 4.000% 5/0 | principal | 14,623,000 | $15.1M | -1,361,000 |
| JD.COM INCJD.COM INC NOTE 0.250% 6/0 | principal | 14,749,000 | $14.7M | +2,762,000 |
| VARONIS SYS INCVARONIS SYS INC NOTE 1.000% 9/1 | principal | 15,600,000 | $14.7M | -2,588,000 |
| MKS INC.MKS INC. NOTE 1.250% 6/0 | principal | 10,983,000 | $14.2M | -119,000 |
| BOFA FIN LLCBOFA FIN LLC MTNF 0.600% 5/2 | principal | 12,896,000 | $14.1M | -1,158,000 |
| CMS ENERGY CORPCMS ENERGY CORP NOTE 3.375% 5/0 | principal | 11,597,000 | $12.5M | -9,696,000 |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible | principal | 10,707,000 | $12.4M | +3,967,000 |
| ENOVIS CORPORATIONENOVIS CORPORATION NOTE 3.875%10/1 | principal | 12,112,000 | $12.2M | +1,390,000 |
| REDFIN CORPREDFIN CORP NOTE 0.500% 4/0 | principal | 12,041,000 | $11.3M | 0 |
| SABRE GLBL INCSABRE GLBL INC NOTE 7.320% 8/0 | principal | 10,775,000 | $11.3M | -23,000 |
| REPLIGEN CORPREPLIGEN CORP NOTE 1.000%12/1 | principal | 10,114,000 | $11.3M | +645,000 |
| RIVIAN AUTOMOTIVE INCRIVIAN AUTOMOTIVE INC NOTE 3.625%10/1 | principal | 9,519,000 | $10.8M | +4,176,000 |
| FLUOR CORPFLUOR CORP NOTE 1.125% 8/1 | principal | 9,062,000 | $10.7M | -222,000 |
| NUTANIX INCNUTANIX INC NOTE 0.500%12/1 | principal | 10,749,000 | $10.6M | new |
| TYLER TECHNOLOGIES INCTYLER TECHNOLOGIES INC NOTE 0.250% 3/1 | principal | 10,129,000 | $10.5M | +413,000 |
| NEXTERA ENERGY CAP HLDGS INCNEXTERA ENERGY CAP HLDGS INC NOTE 3.000% 3/0 | principal | 8,198,000 | $10.4M | -2,912,000 |
| GREENBRIER COS INCGREENBRIER COS INC NOTE 2.875% 4/1 | principal | 9,047,000 | $9.96M | -107,000 |
| SIRIUSXM HOLDINGS INCSIRIUSXM HOLDINGS INC NOTE 3.750% 3/1 | principal | 9,408,000 | $9.77M | +542,000 |
| TRAVERE THERAPEUTICS INCTRAVERE THERAPEUTICS INC CNV | principal | 6,662,000 | $9.75M | +425,000 |
| LIVANOVA PLCLIVANOVA PLC NOTE 2.500% 3/1 | principal | 7,969,000 | $9.47M | +357,000 |
| ITRON INCITRON INC NOTE 1.375% 7/1 | principal | 8,622,000 | $8.91M | -497,000 |
| WORLD KINECT CORPORATIONWORLD KINECT CORPORATION Convertible | principal | 8,059,000 | $8.79M | +470,000 |
| TANDEM DIABETES CARE INCTANDEM DIABETES CARE INC NOTE 1.500% 3/1 | principal | 7,947,000 | $8.31M | +496,000 |
| SOLARIS ENERGY INFRAS INCSOLARIS ENERGY INFRAS INC NOTE 0.250%10/0 | principal | 7,500,000 | $8.26M | new |
| MARRIOTT VACATIONS WORLDWIDEMARRIOTT VACATIONS WORLDWIDE NOTE 3.250%12/1 | principal | 8,529,000 | $8.14M | -662,000 |
| BOX INCBOX INC NOTE 1.500% 9/1 | principal | 8,091,000 | $7.92M | -5,796,000 |
| EVERGY INCEVERGY INC NOTE 4.500%12/1 | principal | 6,339,000 | $7.88M | -1,975,000 |
| VERTEX INCVERTEX INC NOTE 0.750% 5/0 | principal | 7,973,000 | $7.74M | -962,000 |
| ALIGNMENT HEALTHCARE INCALIGNMENT HEALTHCARE INC NOTE 4.250%11/1 | principal | 4,954,000 | $7.71M | new |
| ORMAT TECHNOLOGIES INCORMAT TECHNOLOGIES INC NOTE 2.500% 7/1 | principal | 5,481,000 | $7.59M | -2,160,000 |
| WORKIVA INCWORKIVA INC NOTE 1.250% 8/1 | principal | 7,357,000 | $7.45M | +401,000 |
| NORTHERN OIL & GAS INCNORTHERN OIL & GAS INC NOTE 3.625% 4/1 | principal | 7,339,000 | $7.3M | +440,000 |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 7,437,000 | $6.89M | +442,000 |
| GUIDEWIRE SOFTWARE INCGUIDEWIRE SOFTWARE INC NOTE 1.250%11/0 | principal | 5,758,000 | $6.46M | new |
| SYNAPTICS INCSYNAPTICS INC NOTE 0.750%12/0 | principal | 5,922,000 | $6.39M | new |
| LIBERTY MEDIA CORP DELLIBERTY MEDIA CORP DEL NOTE 2.250% 8/1 | principal | 4,853,000 | $6.27M | +184,000 |
| LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN Convertible | principal | 5,561,000 | $6.16M | new |
| FLUENCE ENERGY INCFLUENCE ENERGY INC NOTE 2.250% 6/1 | principal | 5,000,000 | $6.14M | new |
| POST HLDGS INCPOST HLDGS INC NOTE 2.500% 8/1 | principal | 5,415,000 | $5.98M | -4,785,000 |
| ADVANCED ENERGY INDSADVANCED ENERGY INDS NOTE 2.500% 9/1 | principal | 3,536,000 | $5.9M | -612,000 |
| SOUTHERN COSOUTHERN CO NOTE 4.500% 6/1 | principal | 5,093,000 | $5.46M | -16,630,000 |
| AEROVIRONMENT INCAEROVIRONMENT INC NOTE 7/1 | principal | 4,418,000 | $4.9M | -2,232,000 |
| BENTLEY SYSTEMS INCBENTLEY SYSTEMS INC NOTE 0.125% 1/1 | principal | 4,840,000 | $4.83M | -8,901,000 |
| PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1 | principal | 3,599,000 | $3.98M | -1,135,000 |
| MICROCHIP TECHNOLOGY INC.MICROCHIP TECHNOLOGY INC. NOTE 0.750% 6/0 | principal | 3,975,000 | $3.82M | -11,073,000 |
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 0.875%12/0 | principal | 2,746,000 | $3.57M | -3,347,000 |
| WEC ENERGY GROUP INCWEC ENERGY GROUP INC NOTE 4.375% 6/0 | principal | 3,024,000 | $3.43M | -950,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0 | principal | 3,250,000 | $3.25M | +1,500,000 |
| MARA HOLDINGS INCMARA HOLDINGS INC NOTE 6/0 | principal | 3,807,000 | $3.21M | new |
| WEC ENERGY GROUP INCWEC ENERGY GROUP INC Convertible | principal | 2,336,000 | $2.74M | -1,235,000 |
| VENTAS RLTY LTD PARTNERSHIPVENTAS RLTY LTD PARTNERSHIP NOTE 3.750% 6/0 | principal | 1,932,000 | $2.74M | -3,712,000 |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD Convertible | principal | 1,782,000 | $2.39M | -8,838,000 |
| ENVISTA HOLDINGS CORPORATIONENVISTA HOLDINGS CORPORATION NOTE 1.750% 8/1 | principal | 2,426,000 | $2.35M | +430,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.250% 4/0 | principal | 2,276,000 | $2.34M | +450,000 |
| LYFT INCLYFT INC Convertible | principal | 1,801,000 | $2.22M | +96,000 |
| ALLIANT ENERGY CORPALLIANT ENERGY CORP NOTE 3.875% 3/1 | principal | 2,025,000 | $2.13M | -645,000 |
| T1 ENERGY INCT1 ENERGY INC NOTE 5.250%12/0 | principal | 1,500,000 | $1.96M | new |
| FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1 | principal | 1,835,000 | $1.91M | -8,013,000 |
| JBT MAREL CORPORATIONJBT MAREL CORPORATION NOTE 0.250% 5/1 | principal | 1,783,000 | $1.85M | +1,448,000 |
| TRIP COM GROUP LTDTRIP COM GROUP LTD NOTE 0.750% 6/1 | principal | 1,233,000 | $1.52M | -3,310,000 |
| HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 2.500% 6/0 | principal | 1,323,000 | $1.38M | -10,818,000 |
| CENTERPOINT ENERGY INCCENTERPOINT ENERGY INC NOTE 4.250% 8/1 | principal | 1,013,000 | $1.13M | +500,000 |
| MARA HOLDINGS INCMARA HOLDINGS INC NOTE3/0 | principal | 1,088,000 | $858K | new |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD NOTE 2.000% 6/1 | principal | 639,000 | $742K | -300,000 |
| ASCENDIS PHARMA A/SASCENDIS PHARMA A/S Convertible bond | principal | 439,000 | $626K | -2,697,000 |
| H WORLD GROUP LTDH WORLD GROUP LTD Convertible bond | principal | 404,000 | $517K | 0 |
| BENTLEY SYS INCBENTLEY SYS INC NOTE 0.375% 7/0 | principal | 525,000 | $496K | new |
| CYTOKINETICS INCCYTOKINETICS INC NOTE 3.500% 7/0 | principal | 339,000 | $489K | 0 |
| LANTHEUS HLDGS INCLANTHEUS HLDGS INC Convertible | principal | 377,000 | $433K | -2,632,000 |
| AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 0.750%12/1 | principal | 327,000 | $363K | new |
| PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 1.000% 4/1 | principal | 325,000 | $325K | 0 |
| NABORS INDS INCNABORS INDS INC NOTE 1.750% 6/1 | principal | 300,000 | $245K | -12,550,000 |
| JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 2.500% 9/0 | principal | 188,000 | $184K | 0 |
| MARRIOTT VACATION WORLDWMARRIOTT VACATION WORLDW NOTE 1/1 | principal | 78,000 | $77.9K | -56,000 |
Sold out in Q4 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| SNAP INCSNAP INC | 28,421,000 | $24.6M | principal |
| GUARDANT HEALTH INCGUARDANT HEALTH INC | 11,530,000 | $15.1M | principal |
| ECHOSTAR CORPECHOSTAR CORP | 5,268,888 | $13.2M | principal |
| CSG SYS INTL INCCSG SYS INTL INC | 10,951,000 | $12.4M | principal |
| SHIFT4 PMTS INCSHIFT4 PMTS INC | 10,444,000 | $10.5M | principal |
| PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP | 8,321,000 | $8.61M | principal |
| IONIS PHARMACEUTICALS INCIONIS PHARMACEUTICALS INC | 5,058,000 | $7.13M | principal |
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC | 5,694,000 | $6.95M | principal |
| UGI CORP NEWUGI CORP NEW | 5,135,000 | $6.79M | principal |
| MERITAGE HOMES CORPMERITAGE HOMES CORP | 5,918,000 | $6.19M | principal |
| TRANSOCEAN INCTRANSOCEAN INC | 4,506,000 | $5.44M | principal |
| AMERICAN WTR CAP CORPAMERICAN WTR CAP CORP | 4,594,000 | $4.66M | principal |
| TELADOC HEALTH INCTELADOC HEALTH INC | 4,795,000 | $4.52M | principal |
| SHAKE SHACK INCSHAKE SHACK INC | 4,574,000 | $4.44M | principal |
| LI AUTO INCLI AUTO INC | 3,822,000 | $4.36M | principal |
| HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC | 3,602,000 | $4.22M | principal |
| OSI SYSTEMS INCOSI SYSTEMS INC | 2,543,000 | $3.78M | principal |
| ALARM COM HLDGS INCALARM COM HLDGS INC | 3,412,000 | $3.37M | principal |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC | 2,074,000 | $2.9M | principal |
| SMCSUMMIT MIDSTREAM CORPORATION | 96,723 | $1.99M | shares |
| EXPEDIA GROUP INCEXPEDIA GROUP INC | 1,928,000 | $1.95M | principal |
| HALOZYME THERAPEUTICS INCHALOZYME THERAPEUTICS INC | 900,000 | $1.27M | principal |
| RIVIAN AUTOMOTIVE INCRIVIAN AUTOMOTIVE INC | 1,126,000 | $1.17M | principal |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC | 1,137,000 | $1.09M | principal |
| NCL CORP LTDNCL CORP LTD | 1,048,000 | $1.08M | principal |
| SNOWFLAKE INCSNOWFLAKE INC | 536,000 | $814K | principal |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP | 704,000 | $803K | principal |
| IRHYTHM HOLDINGS INCIRHYTHM HOLDINGS INC | 548,000 | $755K | principal |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC | 491,000 | $691K | principal |
| WAYFAIR INCWAYFAIR INC | 360,000 | $550K | principal |
| Shift4 Payments IncShift4 Payments Inc | 524,000 | $539K | principal |
| VERINT SYSTEMS INCVERINT SYSTEMS INC | 182,000 | $179K | principal |
| WAYFAIR INCWAYFAIR INC | 77,000 | $161K | principal |
| ETSY INCETSY INC | 120,000 | $127K | principal |
| MACOM TECH SOLUTIONS HLDGS IMACOM TECH SOLUTIONS HLDGS I | 72,000 | $109K | principal |
| ZIFF DAVIS INCZIFF DAVIS INC | 110,000 | $107K | principal |
| IONIS PHARMACEUTICALS INIONIS PHARMACEUTICALS IN | 68,000 | $83.7K | principal |
| SNOWFLAKE INCSNOWFLAKE INC | 39,000 | $61.1K | principal |
| DEXCOM INCDEXCOM INC | 60,000 | $54.9K | principal |
| SNAP INCSNAP INC | 28,000 | $25.9K | principal |
| SPOTIFY USA INCSPOTIFY USA INC | 12,000 | $16.4K | principal |
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).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001275228-26-000002 | base | 2026-02-10 | acceptance time not in the bulk data set |