SILVERBACK ASSET MANAGEMENT LLC
Follow13F filer, CIK 1278960, DURHAM, NC
SILVERBACK ASSET MANAGEMENT LLC reported $706,864,136 across 65 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 42.72% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-015245
- Period
- 2025-06-30
- Reported value
- $707M
- Holdings
- 65
- Top 10 weight
- 42.72%
- New
- 24
- Sold out
- 20
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| HLITnew | +710,000 | $6.72M |
| ARAYnew | +1,166,054 | $1.6M |
| STNGnew | +30,000 | $1.17M |
| AVADEL PHARMACEUTICALSnew | +130,000 | $1.15M |
| MXnew | +220,000 | $876K |
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 |
|---|---|---|
| VRMreduced | -1,741 | -$49.6K |
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, Q2 2025
Share positions as resolved from 13F-HR 0001398344-25-015245, largest first. % of portfolio is the value over $651,063,077, 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 | 423,132 | $12.1M | 1.85% | -1,741 | Timeline | ||
| HLITHARMONIC INC | 710,000 | $6.72M | 1.03% | new | Timeline | ||
| ARAYACCURAY INC DEL | 1,166,054 | $1.6M | 0.25% | new | Timeline | ||
| STNGSCORPIO TANKERS INC | 30,000 | $1.17M | 0.18% | new | Timeline | ||
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS | 130,000 | $1.15M | 0.18% | new | |||
| MXMAGNACHIP SEMICONDUCTOR CORP | 220,000 | $876K | 0.13% | new | Timeline | ||
| RDNWRIDENOW GROUP INC | 258,190 | $596K | 0.09% | new | Timeline | ||
| GOSSGOSSAMER BIO INC | 350,000 | $430K | 0.07% | new | Timeline | ||
| KPTIKARYOPHARM THERAPEUTICS INC | 70,000 | $302K | 0.05% | new | Timeline | ||
| VERIVERITONE INC | 100,000 | $126K | 0.02% | new | Timeline | ||
| AISPWAIRSHIP AI HLDGS INC | 12,500 | $24.5K | <0.01% | 0 | Timeline | ||
| WTS/CIIG CAPITAL PARTNERS I…WTS/CIIG CAPITAL PARTNERS II INC … | 7,961 | $18 | <0.01% | 0 |
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).
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 |
|---|---|---|---|---|
| SEAGATE HDD CAYMANSEAGATE HDD CAYMAN NOTE 3.500% 6/0 | principal | 21,000,000 | $37.8M | -500,000 |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 1.500%12/1 | principal | 22,455,000 | $34.5M | +17,241,000 |
| TYLER TEX INDPT SCH DISTTYLER TEX INDPT SCH DIST NOTE 0.250% 3/1 | principal | 24,994,000 | $30.8M | +1,000,000 |
| WESTERN DIGITAL CORPWESTERN DIGITAL CORP NOTE 3.000%11/1 | principal | 16,892,000 | $30.3M | +4,500,000 |
| PORCH GROUP INCPORCH GROUP INC NOTE/6 750% 10/1 | principal | 28,023,000 | $27.5M | +1,748,000 |
| Viavi Solutions IncViavi Solutions Inc Convertible bond | principal | 26,829,000 | $27.2M | +5,497,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0 | principal | 20,725,000 | $24M | -702,000 |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 25,307,000 | $22.8M | -4,500,000 |
| NUTANIX INCNUTANIX INC Convertible | principal | 15,500,000 | $21.8M | new |
| WAYFAIR INCWAYFAIR INC Convertible bond | principal | 15,757,000 | $21.3M | +8,270,000 |
| EVERGY INCEVERGY INC NOTE 4.500%12/1 | principal | 17,500,000 | $20.5M | new |
| JBT MAREL CORPORATIONJBT MAREL CORPORATION NOTE 0.250% 5/1 | principal | 19,800,000 | $19.7M | -6,500,000 |
| PORCH GROUP INCPORCH GROUP INC DEBT 9.000% 5/1 | principal | 15,500,000 | $19.4M | new |
| BENTLEY SYS INCBENTLEY SYS INC NOTE 0.375% 7/0 | principal | 17,500,000 | $16.5M | 0 |
| Ast Spacemobile IncAst Spacemobile Inc Note 4.250 03/01 | principal | 8,000,000 | $16M | new |
| SEMTECH CORPSEMTECH CORP NOTE 1.625%11/0 | principal | 11,000,000 | $15.8M | -500,000 |
| PACIRA BIOSCIENCES INCPACIRA BIOSCIENCES INC NOTE 2.125% 5/1 | principal | 16,000,000 | $15.7M | new |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1 | principal | 15,182,000 | $14.4M | new |
| LIVEPERSON INCLIVEPERSON INC NOTE 12/1 | principal | 39,443,000 | $14M | 0 |
| COLLEGIUM PHARMACEUTICAL INCCOLLEGIUM PHARMACEUTICAL INC NOTE 2.875% 2/1 | principal | 12,300,000 | $13.3M | -500,000 |
| Peloton Interactive IncPeloton Interactive Inc Note 5.500 12/01 | principal | 7,120,000 | $13.1M | new |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible | principal | 13,000,000 | $12.2M | +4,000,000 |
| ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3 | principal | 9,814,831 | $11.6M | -10,746,671 |
| WOLFSPEED INCWOLFSPEED INC NOTE 1.875%12/0 | principal | 42,000,000 | $10.5M | 0 |
| 8X8 INC NEW8X8 INC NEW NOTE 4.000% 2/0 | principal | 12,220,000 | $10.4M | -1,000,000 |
| EVENTBRITE INCEVENTBRITE INC NOTE 0.750% 9/1 | principal | 11,473,000 | $10.3M | 0 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0 | principal | 8,071,000 | $9.56M | -2,929,000 |
| LUMINAR TECHNOLOGIES INCLUMINAR TECHNOLOGIES INC DEBT 11.500% 1/1 | principal | 21,690,000 | $9.44M | +1,500,000 |
| FIVE9 INCFIVE9 INC CNV | principal | 9,906,000 | $8.67M | new |
| PAR TECHNOLOGY CORPPAR TECHNOLOGY CORP NOTE 1.500%10/1 | principal | 7,500,000 | $8.66M | 0 |
| CERENCE INCCERENCE INC NOTE 1.500% 7/0 | principal | 10,000,000 | $7.74M | -2,000,000 |
| PPL CAP FDG INCPPL CAP FDG INC NOTE 2.875% 3/1 | principal | 7,000,000 | $7.56M | new |
| PAGERDUTY INCPAGERDUTY INC NOTE 1.500%10/1 | principal | 7,675,000 | $7.34M | -4,325,000 |
| BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0 | principal | 8,500,000 | $7.17M | +3,500,000 |
| FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1 | principal | 6,500,000 | $6.42M | -5,000,000 |
| VERITONE INCVERITONE INC NOTE 1.750%11/1 | principal | 15,744,000 | $6.4M | 0 |
| AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1 | principal | 4,923,000 | $4.27M | -3,500,000 |
| LUMINAR TECHNOLOGIES INCLUMINAR TECHNOLOGIES INC DEBT 9.000% 1/1 | principal | 9,249,000 | $4.08M | +2,000,000 |
| INOTIV INCINOTIV INC Convertible Bond | principal | 17,092,000 | $4.07M | +1,000,000 |
| FLUOR CORPFLUOR CORP NOTE 1.125% 8/1 | principal | 3,025,000 | $3.98M | -14,475,000 |
| PG&E CORPPG&E CORP CMN | principal | 105,000 | $3.95M | new |
| 3D SYS CORP DEL3D SYS CORP DEL NOTE 11/1 | principal | 4,000,000 | $3.53M | -4,000,000 |
| QIMONDA AGQIMONDA AG NOTE 6.750% 3/2 | principal | 12,400,000 | $3.1M | 0 |
| BEYOND MEAT INCBEYOND MEAT INC NOTE 3/1 | principal | 34,216,000 | $2.82M | 0 |
| LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 | principal | 1,482,000 | $2.28M | -13,000,000 |
| PATRICK INDS INCPATRICK INDS INC NOTE 1.750%12/0 | principal | 1,400,000 | $2.08M | new |
| TPI COMPOSITES INCTPI COMPOSITES INC FIXED | principal | 7,525,000 | $525K | 0 |
| ALARM COM HLDGS INCALARM COM HLDGS INC NOTE 2.250% 6/0 | principal | 525,000 | $511K | new |
| GROUPON INCGROUPON INC NOTE 6.250% 3/1 | principal | 371,000 | $510K | -16,713,000 |
Sold out in Q2 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| SPYSTATE STR SPDR S&P 500 ETF T | 50,000 | $28M | put |
| SOUTHWEST AIRLS COSOUTHWEST AIRLS CO | 25,498,000 | $25.5M | principal |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC | 19,800,000 | $19.3M | principal |
| ACCURAY INC DELACCURAY INC DEL | 15,096,000 | $13.9M | principal |
| DEXCOM INCDEXCOM INC | 14,000,000 | $12.5M | principal |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC | 9,500,000 | $8.78M | principal |
| LCID 1 1/4 12/15/26LCID 1 1/4 12/15/26 | 9,000,000 | $7.16M | principal |
| HLITHARMONIC INC | 725,000 | $6.95M | principal |
| STEM IncSTEM Inc | 27,100,000 | $6.6M | principal |
| Indie Semiconductor IncIndie Semiconductor Inc | 5,810,000 | $4.78M | principal |
| PCGPG&E CORP | 105,000 | $4.7M | principal |
| PRCH 3/4 09/15/26PRCH 3/4 09/15/26 | 4,500,000 | $3.96M | principal |
| RDNWRIDENOW GROUP INC | 459,738 | $1.3M | principal |
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS | 130,000 | $1.02M | principal |
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS | 100,000 | $783K | call |
| MXMAGNACHIP SEMICONDUCTOR CORP | 220,000 | $755K | principal |
| GOSSGOSSAMER BIO INC | 350,000 | $385K | principal |
| VERIVERITONE INC | 100,000 | $232K | principal |
| KPTIKARYOPHARM THERAPEUTICS INC | 50,000 | $187K | principal |
| ARAYACCURAY INC DEL | 69,061 | $124K | principal |
How Q2 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 0001398344-25-015245 | base | 2025-08-13 | acceptance time not in the bulk data set |