BLACK DIAMOND CAPITAL MANAGEMENT, L.L.C.

STAMFORD, CT · CIK 1282197 · 13F filing filed 2025-08-14

SEC-registered investment adviser since 2010 · other (specify)

Assets managed$10.7bn
Staff100 · 44 in investment roles
Main clients (by assets)Private funds 100%
Private funds33 (5 hedge) · $12.5bn gross assets
Main officeSt. Thomas, VI
Websitebdcm.com
Form ADV · 2026-07-13SEC adviser record

Legal entityBDCM CT, L.L.C. (US)

$171.6m reported value +1.8% vs Q1 2025

13positions

97.9%in top 10

0 new 2 added 0 reduced 0 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	CONSUMER PORTFOLIO SVCS INC COM CPSS	CPSS	5,127,165	$50.4m29.37%	29.37%	Unchanged
2	VERIZON COMMUNICATIONS INC COM VZ	VZ	623,171	$27.0m15.72%	15.72%	Unchanged
3	KVH INDS INC COM KVHI	KVHI	3,396,527	$18.1m10.55%	10.55%	Added +8.3k	+8,316 0.2%
4	CANTERBURY PK HLDG CORP COM CPHC	CPHC	854,805	$16.1m9.39%	9.39%	Added +4.4k	+4,402 0.5%
5	WYNN RESORTS LTD COM WYNN	WYNN	168,158	$15.8m9.18%	9.18%	Unchanged
6	UBS GROUP AG SHS UBS	UBS	350,000	$11.8m6.90%	6.90%	Unchanged
7	SIX FLAGS ENTERTAINMENT CORP COM FUN	FUN	329,920	$10.0m5.85%	5.85%	Unchanged
8	MAGNERA CORP COM SHS MAGN	MAGN	750,000	$9.1m5.28%	5.28%	Unchanged
9	BOYD GAMING CORP COM BYD	BYD	82,000	$6.4m3.74%	3.74%	Unchanged
10	CLEARWATER PAPER CORP COM CLW	CLW	123,508	$3.4m1.96%	1.96%	Unchanged
11	BERKSHIRE HATHAWAY INC DEL CL A BRK.A	BRK.A	4	$2.9m1.70%	1.70%	Unchanged
12	COMMERCIAL VEH GROUP INC COM CVGI	CVGI	350,000	$581.0k0.34%	0.34%	Unchanged
13	INOTIV INC COM NOTVQ	NOTVQ	19,756	$36.0k0.02%	0.02%	Unchanged

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
CONSUMER PORTFOLIO SVCS INC CPSS · 13D · filed 2025-08-26	CPSS	23.1%≈ $49.2m		13D	2025-08-26
KVH INDS INC KVHI · 13D · filed 2025-08-26	KVHI	17.6%≈ $33.8m		13D	2025-08-26