SILVERBACK ASSET MANAGEMENT LLC
Follow13F filer, CIK 1278960, DURHAM, NC
SILVERBACK ASSET MANAGEMENT LLC reported $1,044,225,389 across 63 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 41.25% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001398344-25-020867
- Period
- 2025-09-30
- Reported value
- $1.04B
- Holdings
- 63
- Top 10 weight
- 41.25%
- New
- 15
- Sold out
- 17
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| WOLFnew | +286,407 | $8.19M |
| NEOnew | +201,313 | $1.55M |
| GOSSadded | +150,000 | $394K |
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 |
|---|---|---|
| RDNWexited | -258,190 | -$596K |
| HLITreduced | -35,400 | -$360K |
| AVADEL PHARMACEUTICALSreduced | -20,000 | -$305K |
| VRMreduced | -8,183 | -$221K |
| KPTIreduced | -30,000 | -$196K |
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, Q3 2025
Share positions as resolved from 13F-HR 0001398344-25-020867, largest first. % of portfolio is the value over $772,026,361, 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 | 414,949 | $11.2M | 1.45% | -8,183 | Timeline | ||
| WOLFWOLFSPEED INC | 286,407 | $8.19M | 1.06% | new | Timeline | ||
| HLITHARMONIC INC | 674,600 | $6.87M | 0.89% | -35,400 | Timeline | ||
| ARAYACCURAY INC DEL | 1,066,054 | $1.78M | 0.23% | -100,000 | Timeline | ||
| STNGSCORPIO TANKERS INC | 30,000 | $1.68M | 0.22% | 0 | Timeline | ||
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS | 110,000 | $1.68M | 0.22% | -20,000 | |||
| NEONEOGENOMICS INC | 201,313 | $1.55M | 0.2% | new | Timeline | ||
| GOSSGOSSAMER BIO INC | 500,000 | $1.31M | 0.17% | +150,000 | Timeline | ||
| MXMAGNACHIP SEMICONDUCTOR CORP | 220,000 | $689K | 0.09% | 0 | Timeline | ||
| KPTIKARYOPHARM THERAPEUTICS INC | 40,000 | $262K | 0.03% | -30,000 | Timeline | ||
| AISPWAIRSHIP AI HLDGS INC | 12,500 | $21K | <0.01% | 0 | Timeline |
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 | 1,600,000 | $130M | +1,000,000 |
| HYGISHARES TR IBOXX HI YD ETF | call | 1,000,000 | $81.2M | new |
| LCIDLUCID GROUP INC Stock | put | 1,094,700 | $26M | new |
| IWMISHARES TR SHS | call | 100,000 | $24.2M | new |
| ASTSAST SPACEMOBILE INC Stock | put | 132,800 | $6.52M | +68,100 |
| INDIINDIE SEMICONDUCTOR INC CLASS A COM | put | 901,300 | $3.67M | 0 |
| HTZHERTZ GLOBAL HLDGS INC COM NEW | call | 100,000 | $680K | new |
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 | 15,438,000 | $44.5M | -5,562,000 |
| Ast Spacemobile IncAst Spacemobile Inc Note 4.250 03/01 | principal | 20,755,000 | $43.6M | +12,755,000 |
| WESTERN DIGITAL CORPWESTERN DIGITAL CORP NOTE 3.000%11/1 | principal | 10,695,000 | $34.3M | -6,197,000 |
| TYLER TEX INDPT SCH DISTTYLER TEX INDPT SCH DIST NOTE 0.250% 3/1 | principal | 29,147,000 | $32M | +4,153,000 |
| PORCH GROUP INCPORCH GROUP INC DEBT 9.000% 5/1 | principal | 19,500,000 | $29.2M | +4,000,000 |
| IAC FinanceCo 2, Inc.IAC FinanceCo 2, Inc. Note 0.875% 06/15 | principal | 29,192,000 | $28.4M | new |
| JBT MAREL CORPORATIONJBT MAREL CORPORATION NOTE 0.250% 5/1 | principal | 27,300,000 | $27.6M | +7,500,000 |
| FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1 | principal | 26,750,000 | $27.1M | +20,250,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0 | principal | 23,727,000 | $26.4M | +3,002,000 |
| EVERGY INCEVERGY INC NOTE 4.500%12/1 | principal | 20,096,000 | $25.2M | +2,596,000 |
| UBER TECHNOLOGIES INCUBER TECHNOLOGIES INC NOTE 0.875%12/0 | principal | 16,500,000 | $24.3M | new |
| LIVE NATION ENTERTAINMENT INLIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 | principal | 13,632,000 | $22.1M | +12,150,000 |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 22,720,000 | $20.7M | -2,587,000 |
| NUTANIX INCNUTANIX INC Convertible | principal | 15,000,000 | $20.7M | -500,000 |
| ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3 | principal | 8,038,496 | $19.8M | -1,776,335 |
| Viavi Solutions IncViavi Solutions Inc Convertible bond | principal | 18,533,000 | $19.6M | -8,296,000 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 5/0 | principal | 16,571,000 | $18.9M | +8,500,000 |
| PENGUIN SOLUTIONS INCPENGUIN SOLUTIONS INC NOTE 2.000% 8/1 | principal | 15,635,000 | $18.7M | new |
| COLLEGIUM PHARMACEUTICAL INCCOLLEGIUM PHARMACEUTICAL INC NOTE 2.875% 2/1 | principal | 14,800,000 | $17.5M | +2,500,000 |
| PELOTON INTERACTIVE INCPELOTON INTERACTIVE INC NOTE 5.500%12/0 | principal | 7,120,000 | $15.9M | new |
| SEMTECH CORPSEMTECH CORP NOTE 1.625%11/0 | principal | 8,000,000 | $15.9M | -3,000,000 |
| FIVE9 INCFIVE9 INC CNV | principal | 16,780,000 | $14.8M | +6,874,000 |
| FLUOR CORPFLUOR CORP NOTE 1.125% 8/1 | principal | 12,444,000 | $14.8M | +9,419,000 |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1 | principal | 15,282,000 | $14.4M | +100,000 |
| PORCH GROUP INCPORCH GROUP INC NOTE/6 750% 10/1 | principal | 12,523,000 | $12.9M | -15,500,000 |
| PACIRA BIOSCIENCES INCPACIRA BIOSCIENCES INC NOTE 2.125% 5/1 | principal | 11,525,000 | $11.7M | -4,475,000 |
| CERENCE INCCERENCE INC NOTE 1.500% 7/0 | principal | 13,650,000 | $11.3M | +3,650,000 |
| BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0 | principal | 12,500,000 | $10.6M | +4,000,000 |
| EVOLENT HEALTH INCEVOLENT HEALTH INC DEBT 4.500% 8/1 | principal | 10,149,000 | $10.2M | new |
| EVOLENT HEALTH INCEVOLENT HEALTH INC NOTE 3.500%12/0 | principal | 12,500,000 | $10.1M | new |
| VERITONE INCVERITONE INC NOTE 1.750%11/1 | principal | 13,244,000 | $10M | -2,500,000 |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible | principal | 9,450,000 | $9.35M | -3,550,000 |
| AMPHASTAR PHARMACEUTICALS INAMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1 | principal | 10,008,000 | $9.11M | +5,085,000 |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500% 6/1 | principal | 6,502,000 | $9.08M | new |
| 8X8 INC NEW8X8 INC NEW NOTE 4.000% 2/0 | principal | 9,720,000 | $8.42M | -2,500,000 |
| LUMINAR TECHNOLOGIES INCLUMINAR TECHNOLOGIES INC DEBT 11.500% 1/1 | principal | 21,690,000 | $8.09M | 0 |
| HAEMONETICS CORP MASSHAEMONETICS CORP MASS NOTE 2.500% 6/0 | principal | 8,440,000 | $7.81M | new |
| BEYOND MEAT INCBEYOND MEAT INC NOTE 3/1 | principal | 29,266,000 | $5.84M | -4,950,000 |
| OATLY GROUP ABOATLY GROUP AB NOTE 9.250% 9/1 | principal | 5,052,969 | $4.65M | new |
| BENTLEY SYS INCBENTLEY SYS INC NOTE 0.375% 7/0 | principal | 4,500,000 | $4.24M | -13,000,000 |
| PG&E CORPPG&E CORP CMN | principal | 105,000 | $4.13M | 0 |
| INOTIV INCINOTIV INC Convertible Bond | principal | 17,092,000 | $4.05M | 0 |
| QIMONDA AGQIMONDA AG NOTE 6.750% 3/2 | principal | 12,400,000 | $3.35M | 0 |
| LUMINAR TECHNOLOGIES INCLUMINAR TECHNOLOGIES INC DEBT 9.000% 1/1 | principal | 9,249,000 | $3.11M | 0 |
| PATRICK INDS INCPATRICK INDS INC NOTE 1.750%12/0 | principal | 1,400,000 | $2.28M | 0 |
Sold out in Q3 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC | 22,455,000 | $34.5M | principal |
| WAYFAIR INCWAYFAIR INC | 15,757,000 | $21.3M | principal |
| LIVEPERSON INCLIVEPERSON INC | 39,443,000 | $14M | principal |
| Peloton Interactive IncPeloton Interactive Inc | 7,120,000 | $13.1M | principal |
| WOLFSPEED INCWOLFSPEED INC | 42,000,000 | $10.5M | principal |
| EVENTBRITE INCEVENTBRITE INC | 11,473,000 | $10.3M | principal |
| PAR TECHNOLOGY CORPPAR TECHNOLOGY CORP | 7,500,000 | $8.66M | principal |
| PPL CAP FDG INCPPL CAP FDG INC | 7,000,000 | $7.56M | principal |
| PAGERDUTY INCPAGERDUTY INC | 7,675,000 | $7.34M | principal |
| 3D SYS CORP DEL3D SYS CORP DEL | 4,000,000 | $3.53M | principal |
| PRCHPORCH GROUP INC | 100,000 | $1.18M | call |
| RDNWRIDENOW GROUP INC | 258,190 | $596K | shares |
| TPI COMPOSITES INCTPI COMPOSITES INC | 7,525,000 | $525K | principal |
| ALARM COM HLDGS INCALARM COM HLDGS INC | 525,000 | $511K | principal |
| GROUPON INCGROUPON INC | 371,000 | $510K | principal |
| VERIVERITONE INC | 100,000 | $126K | shares |
| WTS/CIIG CAPITAL PARTNERS I…WTS/CIIG CAPITAL PARTNERS II INC … | 7,961 | $18 | shares |
How Q3 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 0001398344-25-020867 | base | 2025-11-13 | acceptance time not in the bulk data set |