Converium Capital Inc.

MONTREAL, A8 · CIK 2043653 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2021 · corporation

Assets managed$952.1m
Staff12 · 6 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $897.6m gross assets
Main officeMontreal, Quebec
Form ADV · 2026-03-30SEC adviser record

Legal entityConverium Capital Inc. (CA)

$249.9m reported value +53.5% vs Q1 2026

24positions

81.9%in top 10

11 new 7 added 1 reduced 1 sold out vs Q1 2026

Options: 15 call positions ($146.8m notional), 5 put positions ($386.1m notional) – listed below, not included above.

Holdings, Q2 2026

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	PG&E CORP NOTE 4.250%12/0 · principal PCG 4.25 12.01.27 · principal	PCG 4.25 12.01.27	36,000,000	$36.8m14.74%	14.74%	Added +11.0m	+11,000,000 44.0%
2	SHIFT4 PMTS INC NOTE 0.500% 8/0 · principal FOUR 0.5 08.01.27 · principal	FOUR 0.5 08.01.27	25,500,000	$24.4m9.75%	9.75%	Added +4.0m	+4,000,000 18.6%
3	AMERICAN AXLE & MFG HLDGS IN COM DCH	DCH	4,159,556	$22.5m9.02%	9.02%	Added +594.5k	+594,512 16.7%
4	GLOBAL PMTS INC NOTE 1.500% 3/0 · principal GPN 1.5 03.01.31 · principal	GPN 1.5 03.01.31	25,000,000	$22.5m9.00%	9.00%	Added +15.0m	+15,000,000 150.0%
5	KOSMOS ENERGY LTD NOTE 3.125% 3/1 · principal KOS 3.125 03.15.30 · principal	KOS 3.125 03.15.30	28,300,000	$21.4m8.57%	8.57%	Unchanged
6	DOORDASH INC NOTE 5/1 · principal DASH 0 05.15.30 · principal	DASH 0 05.15.30	18,500,000	$18.2m7.30%	7.30%	New
7	DELEK US HLDGS INC NEW COM DK	DK	345,043	$17.5m7.02%	7.02%	Added +126.4k	+126,385 57.8%
8	TRIPADVISOR INC COM TRIP	TRIP	1,229,142	$16.9m6.74%	6.74%	Added +154.1k	+154,142 14.3%
9	ZIFF DAVIS INC COM ZD	ZD	250,000	$13.1m5.24%	5.24%	New
10	RUBRIK INC. NOTE 6/1 · principal RBRK 0 06.15.30 · principal	RBRK 0 06.15.30	11,000,000	$11.3m4.51%	4.51%	New
11	SINCLAIR INC CL A SBGI	SBGI	770,615	$11.0m4.39%	4.39%	Reduced -291.8k	-291,837 -27.5%
12	XEROX HOLDINGS CORP NOTE 3.750% 3/1 · principal XRX 3.75 03.15.30 · principal	XRX 3.75 03.15.30	21,300,000	$7.6m3.05%	3.05%	Unchanged
13	IAC INC COM NEW PPLI	PPLI	142,000	$6.6m2.62%	2.62%	New
14	WENDYS CO COM WEN	WEN	500,000	$4.1m1.66%	1.66%	New
15	FRANKLIN STR PPTYS CORP COM FSP	FSP	6,608,478	$3.4m1.36%	1.36%	Unchanged
16	ZOOMINFO TECHNOLOGIES INC COMMON STOCK GTM	GTM	1,084,600	$3.2m1.27%	1.27%	New
17	O-I GLASS INC COM OI	OI	225,000	$2.2m0.87%	0.87%	Unchanged
18	XEROX HOLDINGS CORP COM NEW XRX	XRX	575,000	$1.8m0.72%	0.72%	New
19	TRONOX HOLDINGS PLC SHS TROX	TROX	240,000	$1.5m0.61%	0.61%	Added +40.0k	+40,000 20.0%
20	CHARTER COMMUNICATIONS INC N CL A CHTR	CHTR	10,000	$1.4m0.57%	0.57%	New
21	SABLE OFFSHORE CORP COM SHS SOC	SOC	425,000	$1.3m0.52%	0.52%	New
22	ALTICE USA INC CL A OPTU	OPTU	581,302	$842.9k0.34%	0.34%	New
23	VIVID SEATS INC COM CL A SEAT	SEAT	24,245	$158.1k0.06%	0.06%	New
24	XEROX HOLDINGS CORP *W EXP 02/11/202 XRXDW	XRXDW	511,097	$140.8k0.06%	0.06%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
ON SEMICONDUCTOR CORP ON 0.5 03.01.29	ON 0.5 03.01.29	15,000,000	$14.7m15.0m shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	228,000	$170.3m228.0k shares	Reduced
ISHARES TR IWM · Put	IWM	Put	519,000	$155.9m519.0k shares	Added
SPDR SER TR XRT · Put	XRT	Put	510,000	$44.7m510.0k shares	New
AMERICAN AXLE & MFG HLDGS IN DCH · Call	DCH	Call	4,000,000	$21.7m4.0m shares	Added
VALE S A VALE · Call	VALE	Call	1,200,000	$18.0m1.2m shares	Unchanged
KIMBERLY-CLARK CORP KMB · Call	KMB	Call	120,000	$13.2m120.0k shares	Unchanged
NRG ENERGY INC NRG · Call	NRG	Call	90,000	$13.1m90.0k shares	New
ALIBABA GROUP HLDG LTD BABA · Call	BABA	Call	135,000	$13.0m135.0k shares	New
ISHARES TR ITB · Call	ITB	Call	100,000	$10.4m100.0k shares	Unchanged
NEWMONT CORP NEM · Call	NEM	Call	100,000	$9.3m100.0k shares	Unchanged
MOODYS CORP MCO · Put	MCO	Put	20,000	$9.1m20.0k shares	Unchanged
CAE INC CAE · Call	CAE	Call	350,000	$8.8m350.0k shares	Unchanged
FREEPORT-MCMORAN INC FCX · Call	FCX	Call	130,000	$8.2m130.0k shares	Reduced
BARRICK MNG CORP B · Call	B	Call	195,000	$7.2m195.0k shares	Unchanged
ROCKET LAB CORP RKLB · Put	RKLB	Put	60,000	$6.1m60.0k shares	Unchanged
SHIFT4 PMTS INC FOUR · Call	FOUR	Call	125,000	$6.1m125.0k shares	Unchanged
LKQ CORP LKQ · Call	LKQ	Call	200,000	$5.3m200.0k shares	Unchanged
VIATRIS INC VTRS · Call	VTRS	Call	330,000	$5.2m330.0k shares	Unchanged
FLUOR CORP NEW FLR · Call	FLR	Call	75,000	$3.9m75.0k shares	Reduced
SIBANYE STILLWATER LTD SBSW · Call	SBSW	Call	400,000	$3.4m400.0k shares	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
FRANKLIN STR PPTYS CORP FSP · 13D · filed 2025-10-15	FSP	6.3%≈ $3.4m	no change	13D	2025-10-15