SHENKMAN CAPITAL MANAGEMENT INC

CIK: 0001275228SEC EDGAR →

Portfolio Value

$947.8M

Holdings

97

As of

Q4 2025

New Positions

15

Closed Positions

41

Portfolio Value History

Top 10 Holdings

Rank	Stock	Shares	Value	% of Portfolio
1	BKLN INVESCO EXCH TRADED FD TR II	2,889,660	$62.6M	6.61%
2	ETSY 0.25 06/15/28 ETSY INC	56,775,000	$50.9M	5.37%
3	USHY ISHARES TR	1,280,225	$48.1M	5.08%
4	SJNK SPDR SERIES TRUST	1,443,140	$37.5M	3.96%
5	PSN 2.625 03/01/29 PARSONS CORP DEL	28,005,000	$30.7M	3.24%
6	UNIT 7.5 12/01/27 UNITI GROUP LLC	23,315,000	$26.8M	2.83%
7	DUK 4.125 04/15/26 DUKE ENERGY CORP NEW	24,688,000	$25.9M	2.73%
8	DBX 0 03/01/28 DROPBOX INC	21,517,000	$22.0M	2.32%
9	SMCI 3.5 03/01/29 SUPER MICRO COMPUTER INC	23,793,000	$21.9M	2.31%
10	DDOG 0 12/01/29 DATADOG INC	19,012,000	$19.4M	2.05%

Quarterly Changes

Top Buys

USHY↑ Increased

$36.0M

SJNK↑ Increased

$29.9M

BKLN↑ Increased

$22.7M

DDOG 0 12/01/29NEW

$19.4M

PSN 2.625 03/01/29↑ Increased

$18.7M

Top Sells

SNAP 0.5 05/01/30CLOSED

$24.6M

SO 4.5 06/15/27↓ Decreased

$19.0M

UNIT 7.5 12/01/27↓ Decreased

$16.1M

GH 1.25 02/15/31CLOSED

$15.1M

SATS 3.875 11/30/30CLOSED

$13.2M

New Positions (15)

DDOG 0 12/01/29

$19.4M · 19.0M shares

MSTR 0 12/01/29

$15.6M · 19.0M shares

NTNX 0.5 12/15/29

$10.6M · 10.7M shares

SEI 0.25 10/01/31

$8.3M · 7.5M shares

ALHC 4.25 11/15/29

$7.7M · 5.0M shares

GWRE 1.25 11/01/29

$6.5M · 5.8M shares

SYNA 0.75 12/01/31

$6.4M · 5.9M shares

LYV 2.875 01/15/30

$6.2M · 5.6M shares

FLNC 2.25 06/15/30

$6.1M · 5.0M shares

MARA 0 06/01/31

$3.2M · 3.8M shares

TE 5.25 12/01/30

$2.0M · 1.5M shares

MARA 0 03/01/30

$858K · 1.1M shares

BSY 0.375 07/01/27

$496K · 525K shares

AFRM 0.75 12/15/29

$362K · 327K shares

$59K · 20K shares

Closed Positions (41)

SNAP 0.5 05/01/30

$24.6M · 28.4M shares

GH 1.25 02/15/31

$15.1M · 11.5M shares

SATS 3.875 11/30/30

$13.2M · 5.3M shares

CSGS 3.875 09/15/28

$12.4M · 11.0M shares

FOUR 0.5 08/01/27

$10.5M · 10.4M shares

PRGS 3.5 03/01/30

$8.6M · 8.3M shares

IONS 1.75 06/15/28

$7.1M · 5.1M shares

UBER 0 12/15/25

$6.9M · 5.7M shares

$6.8M · 5.1M shares

MTH 1.75 05/15/28

$6.2M · 5.9M shares

RIG 4.625 09/30/29 *

$5.4M · 4.5M shares

AWK 3.625 06/15/26

$4.7M · 4.6M shares

TDOC 1.25 06/01/27

$4.5M · 4.8M shares

SHAK 0 03/01/28

$4.4M · 4.6M shares

LI 0.25 05/01/28

$4.4M · 3.8M shares

HALO 0.25 03/01/27

$4.2M · 3.6M shares

OSIS 2.25 08/01/29

$3.8M · 2.5M shares

ALRM 2.25 06/01/29

$3.4M · 3.4M shares

LITE 0.5 06/15/28

$2.9M · 2.1M shares

$2.0M · 97K shares

EXPE 0 02/15/26

$1.9M · 1.9M shares

HALO 1 08/15/28

$1.3M · 900K shares

RIVN 4.625 03/15/29

$1.2M · 1.1M shares

AKAM 0.375 09/01/27

$1.1M · 1.1M shares

NCLH 1.125 02/15/27

$1.1M · 1.0M shares

SNOW 0 10/01/27

$814K · 536K shares

$803K · 704K shares

IRTC 1.5 09/01/29

$755K · 548K shares

BBIO 2.5 03/15/27

$691K · 491K shares

W 3.25 09/15/27

$550K · 360K shares

FOUR 0 12/15/25

$539K · 524K shares

VRNT 0.25 04/15/26

$179K · 182K shares

$161K · 77K shares

ETSY 0.125 10/01/26

$127K · 120K shares

MTSI 0.25 03/15/26

$109K · 72K shares

ZD 1.75 11/01/26

$107K · 110K shares

IONS 0 04/01/26

$84K · 68K shares

SNOW 0 10/01/29

$61K · 39K shares

DXCM 0.375 05/15/28

$55K · 60K shares

SNAP 0 05/01/27

$26K · 28K shares

SPOT 0 03/15/26

$16K · 12K shares

Sector Breakdown

Sector	# Holdings	Value	%
Unknown	90	$780.8M	82.4%
Financial Services	3	$148.3M	15.6%
Utilities	1	$10.4M	1.1%
Communication Services	2	$8.0M	0.8%
Technology	1	$324K	0.0%