DeepCurrents Investment Group LLC

NEW YORK, NY · CIK 1754535 · 13F filing filed 2025-08-14

SEC-registered investment adviser since 2017 · limited liability company

Assets managed$4.6bn
Staff12 · 6 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $3.5bn gross assets
Websitedeepcurrentsinvestment.com
Form ADV · 2026-03-31SEC adviser record

Legal entityDEEPCURRENTS INVESTMENT GROUP LLC (US)

$2.7bn reported value -5.2% vs Q1 2025

135positions

31.1%in top 10

29 new 31 added 23 reduced 40 sold out vs Q1 2025

Options: 16 call positions ($109.9m notional), 13 put positions ($152.6m notional) – listed below, not included above.

This report includes the holdings of 1 other manager that shares the investment decisions:

Verition Fund Management LLC – files its own report too; $82.1m of shares are in both

Shares in two reports are counted once in each security's totals.

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	SEA LTD NOTE 2.375%12/0 · principal SEALTD 2.375 12.01.25 · principal	SEALTD 2.375 12.01.25	85,206,000	$151.2m5.53%	5.53%	Unchanged
2	NOVA LTD NOTE 10/1 · principal NVMI 0 10.15.25 · principal	NVMI 0 10.15.25	34,500,000	$127.2m4.65%	4.65%	Unchanged
3	SHIFT4 PMTS INC NOTE 12/1 · principal FOUR 0 12.15.25 · principal	FOUR 0 12.15.25	77,933,000	$98.5m3.60%	3.60%	Unchanged
4	DEXCOM INC NOTE 0.250%11/1 · principal DXCM 0.25 11.15.25 · principal	DXCM 0.25 11.15.25	80,713,000	$79.2m2.90%	2.90%	Unchanged
5	MIDDLEBY CORP NOTE 1.000% 9/0 · principal MIDD 1 09.01.25 · principal	MIDD 1 09.01.25	70,505,000	$79.2m2.90%	2.90%	Added +5.0m	+5,000,000 7.6%
6	CLOUDFLARE INC NOTE 8/1 · principal NET 0 08.15.26 · principal	NET 0 08.15.26	58,101,000	$68.9m2.52%	2.52%	Unchanged
7	NOVOCURE LTD NOTE 11/0 · principal NVCR 0 11.01.25 · principal	NVCR 0 11.01.25	69,468,000	$67.9m2.48%	2.48%	Unchanged
8	IONIS PHARMACEUTICALS INC NOTE 4/0 · principal IONS 0 04.01.26 · principal	IONS 0 04.01.26	60,427,000	$61.0m2.23%	2.23%	Added +5.0m	+5,000,000 9.0%
9	VARONIS SYS INC NOTE 1.250% 8/1 · principal VRNS 1.25 08.15.25 · principal	VRNS 1.25 08.15.25	36,250,000	$59.9m2.19%	2.19%	Unchanged
10	INNOVIVA INC NOTE 2.500% 8/1 · principal INVA 2.5 08.15.25 · principal	INVA 2.5 08.15.25	49,467,000	$57.8m2.12%	2.12%	Unchanged
11	COINBASE GLOBAL INC NOTE 0.500% 6/0 · principal COIN 0.5 06.01.26 · principal	COIN 0.5 06.01.26	46,384,000	$53.7m1.97%	1.97%	Added +10.5m	+10,478,000 29.2%
12	BENTLEY SYS INC NOTE 0.125% 1/1 · principal BSY 0.125 01.15.26 · principal	BSY 0.125 01.15.26	50,785,000	$50.7m1.85%	1.85%	Added +5.5m	+5,500,000 12.2%
13	TRANSMEDICS GROUP INC NOTE 1.500% 6/0 · principal TMDX 1.5 06.01.28 · principal	TMDX 1.5 06.01.28	30,824,000	$49.5m1.81%	1.81%	Unchanged
14	DAYFORCE INC NOTE 0.250% 3/1 · principal DAY 0.25 03.15.26 · principal	DAY 0.25 03.15.26	50,528,000	$48.8m1.78%	1.78%	Unchanged
15	SPOTIFY USA INC NOTE 3/1 · principal SPOT 0 03.15.26 · principal	SPOT 0 03.15.26	29,400,000	$44.5m1.63%	1.63%	Reduced -7.5m	-7,500,000 -20.3%
16	APELLIS PHARMACEUTICALS INC NOTE 3.500% 9/1 · principal APLS 3.5 09.15.26 · principal	APLS 3.5 09.15.26	44,194,000	$44.0m1.61%	1.61%	Unchanged
17	BLOOM ENERGY CORP NOTE 3.000% 6/0 · principal BE 3 06.01.28 · principal	BE 3 06.01.28	28,383,000	$42.3m1.55%	1.55%	Unchanged
18	FIVERR INTL LTD NOTE 11/0 · principal FVRR 0 11.01.25 · principal	FVRR 0 11.01.25	43,158,000	$42.3m1.55%	1.55%	Added +25.0m	+25,000,000 137.7%
19	STRATEGY INC NOTE 0.625% 3/1 · principal MSTR 0.625 03.15.30 · principal	MSTR 0.625 03.15.30	14,700,000	$40.9m1.50%	1.50%	Unchanged
20	SEA LTD NOTE 0.250% 9/1 · principal SEALTD 0.25 09.15.26 · principal	SEALTD 0.25 09.15.26	42,500,000	$40.2m1.47%	1.47%	Unchanged
21	SAREPTA THERAPEUTICS INC NOTE 1.250% 9/1 · principal SRPT 1.25 09.15.27 · principal	SRPT 1.25 09.15.27	51,500,000	$38.1m1.39%	1.39%	New
22	SOLAREDGE TECHNOLOGIES INC NOTE 9/1 · principal SEDG 0 09.15.25 · principal	SEDG 0 09.15.25	38,748,000	$37.9m1.39%	1.39%	Unchanged
23	EVOLENT HEALTH INC NOTE 1.500%10/1 · principal EVH 1.5 10.15.25 · principal	EVH 1.5 10.15.25	38,213,000	$37.8m1.38%	1.38%	Unchanged
24	NICE LTD NOTE 9/1 · principal NICEIT 0 09.15.25 · principal	NICEIT 0 09.15.25	38,097,000	$37.7m1.38%	1.38%	Unchanged
25	STRIDE INC NOTE 1.125% 9/0 · principal LRN 1.125 09.01.27 · principal	LRN 1.125 09.01.27	13,365,000	$37.2m1.36%	1.36%	Added +2.6m	+2,624,000 24.4%
26	CANADIAN SOLAR INC NOTE 2.500%10/0 · principal CSIQ 2.5 10.01.25 · principal	CSIQ 2.5 10.01.25	37,059,000	$36.5m1.34%	1.34%	Added +8.2m	+8,250,000 28.6%
27	PTC THERAPEUTICS INC NOTE 1.500% 9/1 · principal PTCT 1.5 09.15.26 · principal	PTCT 1.5 09.15.26	31,401,000	$36.3m1.33%	1.33%	Added +1.2m	+1,250,000 4.2%
28	DEXCOM INC NOTE 0.375% 5/1 · principal DXCM 0.375 05.15.28 · principal	DXCM 0.375 05.15.28	38,250,000	$36.0m1.32%	1.32%	Added +4.5m	+4,500,000 13.3%
29	INTEGRA LIFESCIENCES HLDGS C NOTE 0.500% 8/1 · principal IART 0.5 08.15.25 · principal	IART 0.5 08.15.25	34,005,000	$33.8m1.23%	1.23%	Added +7.5m	+7,500,000 28.3%
30	VERINT SYSTEMS INC NOTE 0.250% 4/1 · principal VRNT 0.25 04.15.26 · principal	VRNT 0.25 04.15.26	34,905,000	$33.3m1.22%	1.22%	Added +5.0m	+5,000,000 16.7%
31	LANTHEUS HLDGS INC NOTE 2.625%12/1 · principal LNTH 2.625 12.15.27 · principal	LNTH 2.625 12.15.27	25,500,000	$32.4m1.19%	1.19%	Unchanged
32	GUESS INC NOTE 3.750% 4/1 · principal GES 3.75 04.15.28 · principal	GES 3.75 04.15.28	33,249,000	$31.6m1.15%	1.15%	Unchanged
33	SHAKE SHACK INC NOTE 3/0 · principal SHAK 0 03.01.28 · principal	SHAK 0 03.01.28	28,256,000	$30.3m1.11%	1.11%	Added +4.4m	+4,400,000 18.4%
34	PORCH GROUP INC DEBT 9.000% 5/1 · principal PRCH 9 05.15.30 · principal	PRCH 9 05.15.30	24,100,000	$30.2m1.11%	1.11%	New
35	REDFIN CORP NOTE 0.500% 4/0 · principal RDFN 0.5 04.01.27 · principal	RDFN 0.5 04.01.27	32,810,000	$29.6m1.08%	1.08%	Unchanged
36	RAPID7 INC NOTE 0.250% 3/1 · principal RPD 0.25 03.15.27 · principal	RPD 0.25 03.15.27	31,500,000	$29.2m1.07%	1.07%	New
37	PEABODY ENGR CORP NOTE 3.250% 3/0 · principal BTU 3.25 03.01.28 · principal	BTU 3.25 03.01.28	27,800,000	$28.8m1.05%	1.05%	Added +21.8m	+21,800,000 363.3%
38	ITRON INC NOTE 3/1 · principal ITRI 0 03.15.26 · principal	ITRI 0 03.15.26	25,290,000	$28.6m1.05%	1.05%	Unchanged
39	UPSTART HLDGS INC NOTE 0.250% 8/1 · principal UPST 0.25 08.15.26 · principal	UPST 0.25 08.15.26	29,965,000	$28.4m1.04%	1.04%	Added +2.0m	+2,000,000 7.2%
40	DRAFTKINGS INC NEW NOTE 3/1 · principal DKNG 0 03.15.28 · principal	DKNG 0 03.15.28	31,229,000	$28.0m1.03%	1.03%	Added +5.0m	+5,000,000 19.1%
41	GOPRO INC NOTE 1.250%11/1 · principal GPRO 1.25 11.15.25 · principal	GPRO 1.25 11.15.25	30,110,000	$27.6m1.01%	1.01%	Unchanged
42	MAGNITE INC NOTE 0.250% 3/1 · principal MGNI 0.25 03.15.26 · principal	MGNI 0.25 03.15.26	28,000,000	$27.1m0.99%	0.99%	Added +2.4m	+2,433,000 9.5%
43	CONMED CORP NOTE 2.250% 6/1 · principal CNMD 2.25 06.15.27 · principal	CNMD 2.25 06.15.27	27,952,000	$26.5m0.97%	0.97%	New
44	AFFIRM HLDGS INC NOTE 11/1 · principal AFRM 0 11.15.26 · principal	AFRM 0 11.15.26	28,167,000	$26.4m0.97%	0.97%	Unchanged
45	TILRAY BRANDS INC NOTE 5.200% 6/1 · principal TLRY 5.2 06.15.27 · principal	TLRY 5.2 06.15.27	27,550,000	$25.2m0.92%	0.92%	Unchanged
46	CAMTEK LTD NOTE 12/0 · principal CAMT 0 12.01.26 · principal	CAMT 0 12.01.26	15,485,000	$23.9m0.88%	0.88%	Unchanged
47	ALNYLAM PHARMACEUTICALS INC NOTE 1.000% 9/1 · principal ALNY 1 09.15.27 · principal	ALNY 1 09.15.27	18,257,000	$23.8m0.87%	0.87%	Reduced -2.5m	-2,500,000 -12.0%
48	MITEK SYS INC NOTE 0.750% 2/0 · principal MITK 0.75 02.01.26 · principal	MITK 0.75 02.01.26	23,755,000	$23.1m0.85%	0.85%	Added +1.6m	+1,600,000 7.2%
49	BENTLEY SYS INC NOTE 0.375% 7/0 · principal BSY 0.375 07.01.27 · principal	BSY 0.375 07.01.27	24,500,000	$23.1m0.85%	0.85%	Unchanged
50	IRONWOOD PHARMACEUTICALS INC NOTE 1.500% 6/1 · principal IRWD 1.5 06.15.26 · principal	IRWD 1.5 06.15.26	27,000,000	$22.9m0.84%	0.84%	Added +500.0k	+500,000 1.9%
51	TRIPADVISOR INC NOTE 0.250% 4/0 · principal TRIP 0.25 04.01.26 · principal	TRIP 0.25 04.01.26	23,000,000	$22.1m0.81%	0.81%	New
52	COINBASE GLOBAL INC NOTE 0.250% 4/0 · principal COIN 0.25 04.01.30 · principal	COIN 0.25 04.01.30	16,500,000	$21.6m0.79%	0.79%	New
53	FUBOTV INC NOTE 3.250% 2/1 · principal FUBO 3.25 02.15.26 · principal	FUBO 3.25 02.15.26	21,833,000	$21.3m0.78%	0.78%	Unchanged
54	ENPHASE ENERGY INC NOTE 3/0 · principal ENPH 0 03.01.26 · principal	ENPH 0 03.01.26	21,422,000	$20.5m0.75%	0.75%	Reduced -2.5m	-2,500,000 -10.4%
55	BOX INC NOTE 1/1 · principal BOX 0 01.15.26 · principal	BOX 0 01.15.26	15,338,000	$20.5m0.75%	0.75%	Unchanged
56	NVIDIA CORPORATION COM NVDA	NVDA	121,777	$19.2m0.70%	0.70%	New
57	FASTLY INC NOTE 3/1 · principal FSLY 0 03.15.26 · principal	FSLY 0 03.15.26	20,000,000	$19.0m0.70%	0.70%	New
58	Q2 HLDGS INC NOTE 0.125%11/1 · principal QTWO 0.125 11.15.25 · principal	QTWO 0.125 11.15.25	18,402,000	$18.1m0.66%	0.66%	Added +3.2m	+3,250,000 21.4%
59	ENOVIS CORPORATION NOTE 3.875%10/1 · principal ENOV 3.875 10.15.28 · principal	ENOV 3.875 10.15.28	18,000,000	$17.8m0.65%	0.65%	New
60	ASCENDIS PHARMA A/S NOTE 2.250% 4/0 · principal ASND 2.25 04.01.28 · principal	ASND 2.25 04.01.28	13,940,000	$17.5m0.64%	0.64%	Unchanged
61	MAKEMYTRIP LIMITED MAURITIUS NOTE 2/1 · principal MMYT 0 02.15.28 · principal	MMYT 0 02.15.28	6,751,000	$17.2m0.63%	0.63%	Added +1.3m	+1,251,000 22.8%
62	GOSSAMER BIO INC NOTE 5.000% 6/0 · principal GOSS 5 06.01.27 · principal	GOSS 5 06.01.27	27,860,000	$14.8m0.54%	0.54%	Unchanged
63	NIO INC NOTE 4.625%10/1 · principal NIO 4.625 10.15.30 · principal	NIO 4.625 10.15.30	21,482,000	$13.7m0.50%	0.50%	Unchanged
64	WORKIVA INC NOTE 1.250% 8/1 · principal WK 1.25 08.15.28 · principal	WK 1.25 08.15.28	14,500,000	$13.5m0.49%	0.49%	Added +6.0m	+6,000,000 70.6%
65	LITHIUM ARGENTINA AG NOTE 1.750% 1/1 · principal LARCN 1.75 01.15.27 · principal	LARCN 1.75 01.15.27	14,655,000	$12.3m0.45%	0.45%	Unchanged
66	MARATHON DIGITAL HOLDINGS IN NOTE 1.000%12/0 · principal MARA 1 12.01.26 · principal	MARA 1 12.01.26	13,365,000	$12.2m0.45%	0.45%	Unchanged
67	OMEROS CORP NOTE 9.500% 6/1 · principal OMER 9.5 06.15.29 · principal	OMER 9.5 06.15.29	14,614,000	$12.1m0.44%	0.44%	New
68	WESTERN DIGITAL CORP COM WDC	WDC	185,491	$11.9m0.43%	0.43%	Reduced -28.3k	-28,259 -13.2%
69	WOLFSPEED INC NOTE 1.750% 5/0 · principal WOLF 1.75 05.01.26 · principal	WOLF 1.75 05.01.26	45,500,000	$11.7m0.43%	0.43%	Unchanged
70	TRAVERE THERAPEUTICS INC NOTE 2.500% 9/1 · principal TVTX 2.5 09.15.25 · principal	TVTX 2.5 09.15.25	11,615,000	$11.5m0.42%	0.42%	Unchanged
71	EVENTBRITE INC NOTE 0.750% 9/1 · principal EB 0.75 09.15.26 · principal	EB 0.75 09.15.26	12,225,000	$11.0m0.40%	0.40%	Added +8.0m	+8,000,000 189.3%
72	IMPINJ INC NOTE 1.125% 5/1 · principal PI 1.125 05.15.27 · principal	PI 1.125 05.15.27	8,500,000	$10.6m0.39%	0.39%	Unchanged
73	ISHARES TR RUSSELL 2000 ETF IWM	IWM	46,522	$10.0m0.37%	0.37%	Added +29.7k	+29,690 176.4%
74	HALOZYME THERAPEUTICS INC NOTE 1.000% 8/1 · principal HALO 1 08.15.28 · principal	HALO 1 08.15.28	7,750,000	$8.8m0.32%	0.32%	Reduced -2.5m	-2,500,000 -24.4%
75	ALPHATEC HLDGS INC NOTE 0.750% 8/0 · principal ATEC 0.75 08.01.26 · principal	ATEC 0.75 08.01.26	7,433,000	$7.3m0.27%	0.27%	Unchanged
76	JAZZ PHARMACEUTICALS PLC SHS USD JAZZ	JAZZ	66,603	$7.1m0.26%	0.26%	Added +14.6k	+14,550 27.9%
77	HAEMONETICS CORP MASS NOTE 3/0 · principal HAE 0 03.01.26 · principal	HAE 0 03.01.26	7,224,000	$7.0m0.25%	0.25%	Unchanged
78	PURECYCLE TECHNOLOGIES INC NOTE 7.250% 8/1 · principal PCT 7.25 08.15.30 · principal	PCT 7.25 08.15.30	5,528,000	$6.8m0.25%	0.25%	Reduced -8.2m	-8,222,000 -59.8%
79	OMEROS CORP NOTE 5.250% 2/1 · principal OMER 5.25 02.15.26 · principal	OMER 5.25 02.15.26	6,667,000	$6.6m0.24%	0.24%	Reduced -18.9m	-18,947,000 -74.0%
80	AZEK CO INC CL A AZEK	AZEK	110,375	$6.0m0.22%	0.22%	New
81	EXACT SCIENCES CORP NOTE 0.375% 3/1 · principal EXAS 0.375 03.15.27 · principal	EXAS 0.375 03.15.27	6,139,000	$5.9m0.21%	0.21%	Unchanged
82	ETSY INC NOTE 0.125%10/0 · principal ETSY 0.125 10.01.26 · principal	ETSY 0.125 10.01.26	5,500,000	$5.3m0.20%	0.20%	Unchanged
83	ASSERTIO HOLDINGS INC NOTE 6.500% 9/0 · principal ASRT 6.5 09.01.27 · principal	ASRT 6.5 09.01.27	5,272,000	$4.8m0.17%	0.17%	Reduced -2.1m	-2,078,000 -28.3%
84	CHEESECAKE FACTORY INC NOTE 0.375% 6/1 · principal CAKE 0.375 06.15.26 · principal	CAKE 0.375 06.15.26	4,525,000	$4.7m0.17%	0.17%	Unchanged
85	CARDLYTICS INC NOTE 4.250% 4/0 · principal CDLX 4.25 04.01.29 · principal	CDLX 4.25 04.01.29	10,360,000	$4.6m0.17%	0.17%	New
86	MESA LABS INC NOTE 1.375% 8/1 · principal MLAB 1.375 08.15.25 · principal	MLAB 1.375 08.15.25	4,388,000	$4.3m0.16%	0.16%	Unchanged
87	BLOOM ENERGY CORP NOTE 3.000% 6/0 · principal BE 3 06.01.29 · principal	BE 3 06.01.29	3,000,000	$4.3m0.16%	0.16%	New
88	BEYOND MEAT INC NOTE 3/1 · principal BYND 0 03.15.27 · principal	BYND 0 03.15.27	49,198,000	$4.1m0.15%	0.15%	Unchanged
89	GROUPON INC NOTE 6.250% 3/1 · principal GRPN 6.25 03.15.27 * · principal	GRPN 6.25 03.15.27 *	2,625,000	$3.7m0.13%	0.13%	Added +2.4m	+2,375,000 950.0%
90	REPLIGEN CORP NOTE 1.000%12/1 · principal RGEN 1 12.15.28 · principal	RGEN 1 12.15.28	3,574,000	$3.6m0.13%	0.13%	Reduced -4.0m	-4,000,000 -52.8%
91	TELUS CORPORATION COM TU	TU	215,527	$3.5m0.13%	0.13%	Added +102.8k	+102,767 91.1%
92	KELLANOVA COM K	K	42,898	$3.4m0.12%	0.12%	Added +18.9k	+18,898 78.7%
93	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	171,000	$2.9m0.11%	0.11%	Reduced -10.0k	-10,000 -5.5%
94	GLOBAL PMTS INC COM GPN	GPN	36,051	$2.9m0.11%	0.11%	Reduced -7.4k	-7,372 -17.0%
95	EVENTBRITE INC NOTE 5.000%12/0 · principal EB 5 12.01.25 · principal	EB 5 12.01.25	2,800,000	$2.8m0.10%	0.10%	Unchanged
96	ALARM COM HLDGS INC NOTE 1/1 · principal ALRM 0 01.15.26 · principal	ALRM 0 01.15.26	2,472,000	$2.4m0.09%	0.09%	Reduced -7.0m	-7,000,000 -73.9%
97	ESPERION THERAPEUTICS INC NE NOTE 4.000%11/1 · principal ESPR 4 11.15.25 · principal	ESPR 4 11.15.25	2,396,000	$2.4m0.09%	0.09%	Unchanged
98	ZYNEX INC NOTE 5.000% 5/1 · principal ZYXI 5 05.15.26 · principal	ZYXI 5 05.15.26	3,500,000	$2.2m0.08%	0.08%	Unchanged
99	ARRAY TECHNOLOGIES INC NOTE 1.000%12/0 · principal ARRY 1 12.01.28 · principal	ARRY 1 12.01.28	2,636,000	$2.1m0.08%	0.08%	New
100	INOTIV INC NOTE 3.250%10/1 · principal NOTV 3.25 10.15.27 · principal	NOTV 3.25 10.15.27	8,455,000	$2.1m0.08%	0.08%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
INSMED INC INSM 0.75 06.01.28	INSM 0.75 06.01.28	38,634,000	$91.6m38.6m shares
CINEMARK HLDGS INC CNK 4.5 08.15.25	CNK 4.5 08.15.25	45,310,000	$79.2m45.3m shares
INSULET CORP PODD 0.375 09.01.26	PODD 0.375 09.01.26	56,750,000	$73.2m56.8m shares
ZSCALER INC ZS 0.125 07.01.25	ZS 0.125 07.01.25	52,918,000	$70.2m52.9m shares
LIVONGO HEALTH INC TDOC 0.875 06.01.25	TDOC 0.875 06.01.25	58,000,000	$57.6m58.0m shares
BURLINGTON STORES INC BURL 2.25 04.15.25	BURL 2.25 04.15.25	29,885,000	$32.5m29.9m shares
DATADOG INC DDOG 0.125 06.15.25	DDOG 0.125 06.15.25	27,862,000	$31.3m27.9m shares
COHERUS BIOSCIENCES INC CHRS 1.5 04.15.26	CHRS 1.5 04.15.26	28,338,000	$27.6m28.3m shares
VAREX IMAGING CORP VREX 4 06.01.25	VREX 4 06.01.25	25,050,000	$24.9m25.1m shares
ARTIVION INC AORT 4.25 07.01.25	AORT 4.25 07.01.25	21,975,000	$24.3m22.0m shares
CERENCE INC CRNC 3 06.01.25	CRNC 3 06.01.25	18,992,000	$18.7m19.0m shares
LAM RESEARCH CORP LRCX	LRCX	167,361	$12.2m167.4k shares
DYNAVAX TECHNOLOGIES CORP		11,175,000	$11.1m11.2m shares
ACCURAY INC DEL ARAY 3.75 06.01.26	ARAY 3.75 06.01.26	8,600,000	$8.0m8.6m shares
NUTANIX INC NTNX 0.25 10.01.27	NTNX 0.25 10.01.27	5,650,000	$7.5m5.7m shares
PAGERDUTY INC PD 1.25 07.01.25	PD 1.25 07.01.25	7,303,000	$7.2m7.3m shares
ENVISTA HOLDINGS CORPORATION NVST 2.375 06.01.25	NVST 2.375 06.01.25	7,000,000	$7.0m7.0m shares
TRIP COM GROUP LTD TCOM	TCOM	107,827	$6.9m107.8k shares
JD.COM INC JD	JD	148,597	$6.1m148.6k shares
NATIONAL VISION HLDGS INC EYE 2.5 05.15.25	EYE 2.5 05.15.25	5,296,000	$5.3m5.3m shares
SUNNOVA ENERGY INTL INC. NOVA 0.25 12.01.26	NOVA 0.25 12.01.26	32,810,000	$3.5m32.8m shares
AKAMAI TECHNOLOGIES INC AKAM	AKAM	39,621	$3.2m39.6k shares
AMER SOFTWARE INC AMSWA	AMSWA	210,000	$3.0m210.0k shares
AT&T INC T	T	143,905	$3.0m143.9k shares
ALPHATEC HLDGS INC ATEC	ATEC	269,226	$2.7m269.2k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
ISHARES TR TLT · Call	TLT	Call	4,500	$39.7m4.5k shares	New
NVIDIA CORPORATION NVDA · Put	NVDA	Put	2,500	$39.5m2.5k shares	New
ORACLE CORP ORCL · Call	ORCL	Call	1,000	$21.9m1.0k shares	Reduced
MANULIFE FINL CORP MFC · Put	MFC	Put	5,324	$17.0m5.3k shares	Unchanged
SELECT SECTOR SPDR TR XLE · Put	XLE	Put	2,000	$17.0m2.0k shares	Added
AT&T INC T · Put	T	Put	9,850	$15.8m9.8k shares	Added
FIVE BELOW INC FIVE · Put	FIVE	Put	1,000	$13.1m1.0k shares	New
ELI LILLY & CO LLY · Call	LLY	Call	160	$12.5m160 shares	New
SPDR INDEX SHS FDS FEZ · Put	FEZ	Put	2,000	$11.9m2.0k shares	New
ISHARES TR IWM · Put	IWM	Put	516	$11.1m516 shares	New
EXXON MOBIL CORP XOM · Put	XOM	Put	1,000	$10.8m1.0k shares	New
FIRST SOLAR INC FSLR · Call	FSLR	Call	500	$8.3m500 shares	New
MICROSTRATEGY INC MSTR · Put	MSTR	Put	200	$8.1m200 shares	Reduced
HUT 8 CORP HUT · Call	HUT	Call	2,542	$4.7m2.5k shares	New
ENPHASE ENERGY INC ENPH · Put	ENPH	Put	1,000	$4.0m1.0k shares	New
IREN LIMITED IREN · Call	IREN	Call	2,424	$3.5m2.4k shares	New
CORE SCIENTIFIC INC NEW CORZ · Call	CORZ	Call	1,996	$3.4m2.0k shares	Added
WESTERN DIGITAL CORP WDC · Call	WDC	Call	500	$3.2m500 shares	New
PG&E CORP PCG · Call	PCG	Call	2,234	$3.1m2.2k shares	Added
RIOT PLATFORMS INC RIOT · Call	RIOT	Call	2,200	$2.5m2.2k shares	New
FRONTLINE PLC FRO · Call	FRO	Call	1,500	$2.5m1.5k shares	New
SPDR S&P 500 ETF TR SPY · Call	SPY	Call	35	$2.2m35 shares	Reduced
OSCAR HEALTH INC OSCR · Put	OSCR	Put	1,000	$2.1m1.0k shares	New
AVANTOR INC AVTR · Call	AVTR	Call	1,000	$1.3m1.0k shares	New
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	20	$1.2m20 shares	New

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
GOSSAMER BIO INC GOSS · 13G · filed 2026-06-11	GOSS	7.7%≈ $6.2m	new	13G	2026-06-11