SILVERBACK ASSET MANAGEMENT LLC
Follow13F filer, CIK 1278960, DURHAM, NC
SILVERBACK ASSET MANAGEMENT LLC reported $724,155,741 across 61 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 39.56% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-009555
- Period
- 2025-03-31
- Reported value
- $724M
- Holdings
- 61
- Top 10 weight
- 39.56%
- New
- 22
- Sold out
- 30
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| VRMnew | +424,873 | $12.5M |
| AISPWnew | +12,500 | $14K |
| WTS/CIIG CAPITAL PARTNERS I…new | +7,961 | $70 |
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 |
|---|---|---|
| HLITexited | -691,644 | -$9.15M |
| RDNWexited | -591,216 | -$3.21M |
| MXexited | -220,000 | -$884K |
| VERIexited | -100,000 | -$328K |
| ARAYexited | -69,061 | -$137K |
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, Q1 2025
Share positions as resolved from 13F-HR 0001398344-25-009555, largest first. % of portfolio is the value over $616,513,241, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| VRMVROOM INC | 424,873 | $12.5M | 2.03% | new | Timeline | ||
| AISPWAIRSHIP AI HLDGS INC | 12,500 | $14K | <0.01% | new | Timeline | ||
| WTS/CIIG CAPITAL PARTNERS I…WTS/CIIG CAPITAL PARTNERS II INC … | 7,961 | $70 | <0.01% | new |
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).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| HYGISHARES TR IBOXX HI YD ETF | put | 1,000,000 | $78.9M | new |
| SPYSTATE STR SPDR S&P 500 ETF T SHS | put | 50,000 | $28M | new |
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS COM SHS | call | 100,000 | $783K | -100,000 |
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 |
|---|---|---|---|---|
| TYLER TEX INDPT SCH DISTTYLER TEX INDPT SCH DIST NOTE 0.250% 3/1 | principal | 23,994,000 | $29.3M | +11,700,000 |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 29,807,000 | $26.4M | +10,940,000 |
| JBT MAREL CORPORATIONJBT MAREL CORPORATION NOTE 0.250% 5/1 | principal | 26,300,000 | $26.4M | new |
| SEAGATE HDD CAYMANSEAGATE HDD CAYMAN NOTE 3.500% 6/0 | principal | 21,500,000 | $25.9M | +2,500,000 |
| SOUTHWEST AIRLS COSOUTHWEST AIRLS CO NOTE 1.250% 5/0 | principal | 25,498,000 | $25.5M | +21,563,000 |
| PORCH GROUP INCPORCH GROUP INC NOTE/6 750% 10/1 | principal | 26,275,000 | $23.3M | -1,500,000 |
| ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3 | principal | 20,561,502 | $23M | -5,042,475 |
| Viavi Solutions IncViavi Solutions Inc Convertible bond | principal | 21,332,000 | $22.9M | +11,588,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0 | principal | 21,427,000 | $21M | +8,927,000 |
| LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 | principal | 14,482,000 | $20.1M | new |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 | principal | 19,800,000 | $19.3M | new |
| FLUOR CORPFLUOR CORP NOTE 1.125% 8/1 | principal | 17,500,000 | $18.6M | new |
| GROUPON INCGROUPON INC NOTE 6.250% 3/1 | principal | 17,084,000 | $17.9M | -9,000,000 |
| BENTLEY SYS INCBENTLEY SYS INC NOTE 0.375% 7/0 | principal | 17,500,000 | $15.9M | +3,500,000 |
| WESTERN DIGITAL CORPWESTERN DIGITAL CORP NOTE 3.000%11/1 | principal | 12,392,000 | $15.9M | -8,000,000 |
| SEMTECH CORPSEMTECH CORP NOTE 1.625%11/0 | principal | 11,500,000 | $14.2M | -2,000,000 |
| LIVEPERSON INCLIVEPERSON INC NOTE 12/1 | principal | 39,443,000 | $14.1M | +5,000,000 |
| ACCURAY INC DELACCURAY INC DEL NOTE 3.750% 6/0 | principal | 15,096,000 | $13.9M | 0 |
| COLLEGIUM PHARMACEUTICAL INCCOLLEGIUM PHARMACEUTICAL INC NOTE 2.875% 2/1 | principal | 12,800,000 | $13.8M | -2,700,000 |
| DEXCOM INCDEXCOM INC NOTE 0.375% 5/1 | principal | 14,000,000 | $12.5M | new |
| PAGERDUTY INCPAGERDUTY INC NOTE 1.500%10/1 | principal | 12,000,000 | $11.9M | +6,000,000 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0 | principal | 11,000,000 | $11.6M | +5,000,000 |
| FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1 | principal | 11,500,000 | $11.3M | +10,000,000 |
| 8X8 INC NEW8X8 INC NEW NOTE 4.000% 2/0 | principal | 13,220,000 | $11.2M | -3,000,000 |
| EVENTBRITE INCEVENTBRITE INC NOTE 0.750% 9/1 | principal | 11,473,000 | $10.5M | -2,000,000 |
| WOLFSPEED INCWOLFSPEED INC NOTE 1.875%12/0 | principal | 42,000,000 | $9.49M | +13,000,000 |
| LUMINAR TECHNOLOGIES INCLUMINAR TECHNOLOGIES INC DEBT 11.500% 1/1 | principal | 20,190,000 | $9.39M | 0 |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500% 6/1 | principal | 9,500,000 | $8.78M | +5,000,000 |
| CERENCE INCCERENCE INC NOTE 1.500% 7/0 | principal | 12,000,000 | $8.37M | new |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible | principal | 9,000,000 | $8.1M | -1,000,000 |
| PAR TECHNOLOGY CORPPAR TECHNOLOGY CORP NOTE 1.500%10/1 | principal | 7,500,000 | $8.07M | new |
| WAYFAIR INCWAYFAIR INC Convertible bond | principal | 7,487,000 | $8.03M | -6,000,000 |
| AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1 | principal | 8,423,000 | $7.5M | new |
| 3D SYS CORP DEL3D SYS CORP DEL NOTE 11/1 | principal | 8,000,000 | $7.31M | 0 |
| LCID 1 1/4 12/15/26LCID 1 1/4 12/15/26 FIXED INCOME | principal | 9,000,000 | $7.16M | -18,314,000 |
| HLITHARMONIC INC COM | principal | 725,000 | $6.95M | new |
| VERITONE INCVERITONE INC NOTE 1.750%11/1 | principal | 15,744,000 | $6.68M | -1,500,000 |
| STEM IncSTEM Inc NOTE 4.250 04/01/30 | principal | 27,100,000 | $6.6M | +2,500,000 |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 1.500%12/1 | principal | 5,214,000 | $6.14M | -5,905,000 |
| INOTIV INCINOTIV INC Convertible Bond | principal | 16,092,000 | $5.38M | +175,000 |
| Indie Semiconductor IncIndie Semiconductor Inc NOTE 4.500 11/15/27 | principal | 5,810,000 | $4.78M | -5,150,000 |
| PCGPG&E CORP Stock | principal | 105,000 | $4.7M | new |
| BEYOND MEAT INCBEYOND MEAT INC NOTE 3/1 | principal | 34,216,000 | $4.12M | 0 |
| BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0 | principal | 5,000,000 | $4.05M | -4,615,000 |
| PRCH 3/4 09/15/26PRCH 3/4 09/15/26 FIXED INCOME | principal | 4,500,000 | $3.96M | -500,000 |
| LUMINAR TECHNOLOGIES INCLUMINAR TECHNOLOGIES INC DEBT 9.000% 1/1 | principal | 7,249,000 | $3.73M | +1,500,000 |
| QIMONDA AGQIMONDA AG NOTE 6.750% 3/2 | principal | 12,400,000 | $2.85M | 0 |
| RDNWRIDENOW GROUP INC COM CL B | principal | 459,738 | $1.3M | new |
| TPI COMPOSITES INCTPI COMPOSITES INC FIXED | principal | 7,525,000 | $1.21M | 0 |
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS COM SHS | principal | 130,000 | $1.02M | new |
| MXMAGNACHIP SEMICONDUCTOR CORP CMN | principal | 220,000 | $755K | new |
| GOSSGOSSAMER BIO INC Stock | principal | 350,000 | $385K | new |
| VERIVERITONE INC COM | principal | 100,000 | $232K | new |
| KPTIKARYOPHARM THERAPEUTICS INC COMMON STOCK | principal | 50,000 | $187K | new |
| ARAYACCURAY INC DEL COM | principal | 69,061 | $124K | new |
Sold out in Q1 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| FUBOTV INCFUBOTV INC | 28,000,000 | $22.2M | principal |
| INFINERA CORPINFINERA CORP | 18,454,000 | $21.6M | principal |
| Shift4 Payments IncShift4 Payments Inc | 12,749,000 | $17.2M | principal |
| INTEGER HLDGS CORPINTEGER HLDGS CORP | 8,025,000 | $12.8M | principal |
| TELADOC HEALTH INCTELADOC HEALTH INC | 14,059,000 | $12.3M | principal |
| IONIS PHARMACEUTICALS INCIONIS PHARMACEUTICALS INC | 12,500,000 | $12.1M | principal |
| CRACKER BARREL OLD CTRY STORCRACKER BARREL OLD CTRY STOR | 11,548,000 | $10.9M | principal |
| DIGITALOCEAN HLDGS INCDIGITALOCEAN HLDGS INC | 10,676,000 | $9.51M | principal |
| The Beauty Health Co.The Beauty Health Co. | 11,203,000 | $9.27M | principal |
| HLITHARMONIC INC | 691,644 | $9.15M | shares |
| INFINERA CORPINFINERA CORP | 8,250,000 | $9M | principal |
| EVERGY INCEVERGY INC | 7,500,000 | $8.15M | principal |
| ALNYLAM PHARMACEUTICALS INCALNYLAM PHARMACEUTICALS INC | 7,500,000 | $8.01M | principal |
| NEOGENOMICS INCNEOGENOMICS INC | 9,200,000 | $7.74M | principal |
| CABLE ONE INCCABLE ONE INC | 7,330,000 | $6.81M | principal |
| GUARDANT HEALTH INCGUARDANT HEALTH INC | 5,600,000 | $4.71M | principal |
| RDNWRIDENOW GROUP INC | 591,216 | $3.21M | shares |
| PG&E CORPPG&E CORP | 55,000 | $2.74M | principal |
| WOLFSPEED INCWOLFSPEED INC | 5,500,000 | $2.55M | principal |
| WAYFAIR INCWAYFAIR INC | 2,500,000 | $2.32M | principal |
| CONFLUENT INCCONFLUENT INC | 2,500,000 | $2.24M | principal |
| CUTERA INCCUTERA INC | 24,816,000 | $2.22M | principal |
| COMMERCE.COM INCCOMMERCE.COM INC | 2,375,000 | $2.12M | principal |
| Repay Holdings CorpRepay Holdings Corp | 1,885,000 | $1.76M | principal |
| PAR TECHNOLOGY CORPPAR TECHNOLOGY CORP | 910,000 | $1.57M | principal |
| ATECALPHATEC HLDGS INC | 151,100 | $1.39M | call |
| MXMAGNACHIP SEMICONDUCTOR CORP | 220,000 | $884K | shares |
| Danimer Scientific CorpDanimer Scientific Corp | 28,820,000 | $432K | principal |
| VERIVERITONE INC | 100,000 | $328K | shares |
| ARAYACCURAY INC DEL | 69,061 | $137K | shares |
How Q1 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 0001398344-25-009555 | base | 2025-05-15 | acceptance time not in the bulk data set |