Warberg Asset Management LLC Q2 2025 Filing

Filed August 12, 2025

Portfolio Value

$643.2B

Holdings

182

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (182 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SPYSPDRS&P500ETFTR	220,000	$135.9B	21.13%	Put
2	QQQINVESCOQQQTR	95,000	$52.4B	8.15%	Put
3	NRG 2.75 06/01/48NRGENERGYINC	8,370,000	$32.8B	5.10%
4	CNK 4.5 08/15/25CINEMARKHLDGSINC	13,000,000	$27.6B	4.29%
5	AXON 0.5 12/15/27AXONENTERPRISEINC	6,285,000	$22.8B	3.54%
6	CNX 2.25 05/01/26CNXRESCORP	7,901,000	$20.8B	3.23%
7	MCHP 1.625 02/15/27MICROCHIPTECHNOLOGYINC.	9,021,000	$18.1B	2.81%
8	VRNS 1.25 08/15/25VARONISSYSINC	10,044,000	$16.6B	2.58%
9	STX 3.5 06/01/28SEAGATEHDDCAYMAN	9,060,000	$16.3B	2.54%
10	ITGR 2.125 02/15/28INTEGERHLDGSCORP	10,211,000	$15.4B	2.39%
11	BOX 0 01/15/26BOXINC	11,302,000	$15.1B	2.34%
12	SEALTD 2.375 12/01/25SEALTD	8,070,000	$14.3B	2.23%
13	PODD 0.375 09/01/26INSULETCORP	9,000,000	$12.8B	1.99%
14	PSN 0.25 08/15/25PARSONSCORPDEL	8,042,000	$12.7B	1.98%
15	WDC 3 11/15/28WESTERNDIGITALCORP	7,026,000	$12.6B	1.96%
16	MTSI 0.25 03/15/26MACOMTECHSOLUTIONSHLDGSI	7,174,000	$12.5B	1.95%
17	MIDD 1 09/01/25MIDDLEBYCORP	11,113,000	$12.5B	1.94%
18	GVA 3.75 05/15/28GRANITECONSTRINC	5,900,000	$12.3B	1.91%
19	TYL 0.25 03/15/26TYLERTEXINDPTSCHDIST	8,533,000	$10.5B	1.63%
20	POST 2.5 08/15/27POSTHLDGSINC	8,185,000	$9.4B	1.45%
21	WK 1.125 08/15/26WORKIVAINC	8,670,000	$9.3B	1.45%
22	LYV 3.125 01/15/29LIVENATIONENTERTAINMENTIN	6,047,000	$9.3B	1.44%
23	PRGSPROGRESSSOFTWARECORP	6,606,000	$7.9B	1.23%
24	IDCC 3.5 06/01/27INTERDIGITALINC	2,632,000	$7.7B	1.19%
25	VTR 3.75 06/01/26VENTASRLTYLTDPARTNERSHIP	6,381,000	$7.6B	1.19%
26	SPOT 0 03/15/26SPOTIFYUSAINC	5,012,000	$7.6B	1.18%
27	MSFTMICROSOFTCORP	14,000	$7.0B	1.08%	Call
28	PLTRPALANTIRTECHNOLOGIESINC	47,000	$6.4B	1.00%	Put
29	HALO 1 08/15/28HALOZYMETHERAPEUTICSINC	5,050,000	$5.8B	0.90%
30	F 0 03/15/26FORDMTRCO	5,581,000	$5.5B	0.86%
31	MSFTMICROSOFTCORP	8,000	$4.0B	0.62%	Put
32	EPR 5.75 PERP CEPRPPTYS	135,412	$3.4B	0.54%
33	CVNACARVANACO	8,000	$2.7B	0.42%	Put
34	0VVBPARAMOUNTGLOBAL	200,000	$2.6B	0.40%
35	SHOPCN 0.125 11/01/25SHOPIFYINC	2,511,000	$2.6B	0.40%
36	RJR1STEREOTAXISINC	1,201,500	$2.5B	0.40%
37	AWK 3.625 06/15/26AMERICANWTRCAPCORP	2,505,000	$2.5B	0.39%
38	EXPE 0 02/15/26EXPEDIAGROUPINC	2,500,000	$2.4B	0.38%
39	EQIXEQUINIXINC	3,000	$2.4B	0.37%	Put
40	CORZWCORESCIENTIFICINCNEW	194,514	$2.1B	0.33%
41	JAZZ 2 06/15/26JAZZINVESTMENTSILTD	2,035,000	$2.1B	0.32%
42	AAPLAPPLEINC	10,000	$2.1B	0.32%	Put
43	SLVISHARESSILVERTR	60,000	$2.0B	0.31%	Call
44	MUMICRONTECHNOLOGYINC	15,000	$1.8B	0.29%	Call
45	—ROBINHOODMKTSINC	19,000	$1.8B	0.28%	Put
46	TLTISHARESTR	20,000	$1.8B	0.27%	Put
47	ITRI 0 03/15/26ITRONINC	1,500,000	$1.7B	0.26%
48	FOUR 0 12/15/25SHIFT4PMTSINC	1,235,000	$1.6B	0.24%
49	IBITISHARESBITCOINTRUSTETF	25,000	$1.5B	0.24%	Put
50	GBX 2.875 04/15/28GREENBRIERCOSINC	1,440,000	$1.5B	0.24%
51	—COREWEAVEINC	9,000	$1.5B	0.23%	Put
52	CRCLCIRCLEINTERNETGROUPINC	8,000	$1.5B	0.23%	Put
53	PCGPG&ECORP	100,000	$1.4B	0.22%	Call
54	EXEELEXPANDENERGYCORPORATION	11,257	$1.2B	0.19%
55	OXY/WSOCCIDENTALPETECORP	58,599	$1.2B	0.19%
56	—PARAMOUNTGLOBAL	93,500	$1.2B	0.19%	Call
57	TAVITAVIAACQUISITIONCORP	107,410	$1.1B	0.17%
58	SO 3.875 12/15/25SOUTHERNCO	959,000	$1.1B	0.17%
59	CTLPCANTALOUPEINC	96,300	$1.1B	0.16%	Put
60	XLFISELECTSECTORSPDRTR	20,000	$1.0B	0.16%	Put
61	CHARCHARLTONARIAACQUISITIONCO	98,665	$1.0B	0.16%
62	DMIIDRUGSMADEINAMERACQUTNCO	92,055	$939.0M	0.15%
63	FORLFOURLEAFACQUISITIONCORP	75,932	$878.5M	0.14%
64	VCICVINEHILLCAPINVTCORP.	84,156	$875.2M	0.14%
65	KCHVKOCHAVDEFENSEACQUICO	78,200	$795.7M	0.12%
66	BKHABLACKHAWKACQUISITIONCORP	74,230	$789.8M	0.12%
67	NENNEWENGLANDRLTYASSOCLTDP	10,730	$784.4M	0.12%
68	PGACAIFEEXNEXUSACQUISITIONCOR	76,190	$775.6M	0.12%
69	—INNOVATIVEINDLPPTYSINC	13,900	$767.6M	0.12%	Put
70	TDACWTRANSLATIONALDEVACQUISITIO	74,422	$765.4M	0.12%
71	CTLPCANTALOUPEINC	69,200	$760.5M	0.12%	Call
72	YCYAAMISSIONACQUISITIONCORP	67,196	$700.2M	0.11%
73	AVPTAVEPOINTINC	80,602	$626.3M	0.10%
74	—OCCIDENTALPETECORP	14,000	$588.1M	0.09%	Call
75	KVACKEENVISIONACQUISITIONCORP	46,000	$523.0M	0.08%
76	—VANECKETFTRUST	10,000	$520.6M	0.08%	Call
77	RGTIWRIGETTICOMPUTINGINC	123,575	$517.8M	0.08%
78	AKAM 0.375 09/01/27AKAMAITECHNOLOGIESINC	528,000	$512.7M	0.08%
79	CRAQCALREDWOODACQUISITIONCORP	49,900	$512.0M	0.08%
80	EPR 9 PERP EEPRPPTYS	16,336	$509.4M	0.08%
81	PELIPELICANACQUISITIONCORP	50,000	$500.5M	0.08%
82	CEPFCANTOREQUITYPARTNERSINC	17,800	$494.7M	0.08%	Put
83	OAKUOAKWOODSACQUISITIONCORP	41,426	$484.7M	0.08%
84	OPFI/WSOPPFIINC	112,553	$481.7M	0.07%
85	RDACRISINGDRAGONACQUISITIONCO	45,979	$474.3M	0.07%
86	SBUXSTARBUCKSCORP	5,000	$458.1M	0.07%	Put
87	TVAITHAYERVENTURESACQCORPII	44,699	$454.1M	0.07%
88	GBTCGRAYSCALEBITCOINTRUSTETF	5,001	$424.2M	0.07%
89	—ACMRESHINC	16,300	$422.2M	0.07%	Call
90	—PRAIRIEOPERCO	140,000	$419.3M	0.07%	Call
91	RFAIRFACQUISITIONCORPII	38,000	$401.3M	0.06%
92	HIMSHIMS&HERSHEALTHINC	8,000	$398.8M	0.06%	Put
93	AEVAAEVATECHNOLOGIESINC	10,000	$377.9M	0.06%	Put
94	BAC 7.25 PERP LBANKAMERICACORP	300	$363.9M	0.06%
95	BULLWEBULLCORP	30,000	$358.8M	0.06%
96	CHPGCHAMPIONSGATEACQUISITIONCO	34,742	$353.3M	0.05%
97	NEOVWNEOVOLTAINC	237,456	$334.8M	0.05%
98	—PERCEPTIVECAPSOLUTIONSCOR	29,931	$316.7M	0.05%
99	—ARMADAACQUISITIONCORPII	30,000	$306.3M	0.05%
100	IPODDUNEACQUISITIONCORPII	29,816	$299.7M	0.05%

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