SILVERBACK ASSET MANAGEMENT LLC
Sector Allocation
- Technology49.2%$389.3M
- Other35.9%$284.0M
- Healthcare6.4%$50.9M
- Industrials2.6%$20.8M
- Financials2.4%$19.3M
- Materials1.6%$12.3M
- Utilities1.1%$8.3M
- Consumer Discretionary0.4%$3.5M
- Communication Services0.3%$2.2M
AUM History
13fpro.ai/research/fund/silverback-asset-management-llc-1278960
Conviction and streaks
Diversifying · top 10 = 46.2%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
SMTC
$76.7MMKSI
$43.3M- AVNET$35.1M
- JAZZ$34.2M
- INDIE$33.5M
- CHEESECAKE$31.8M
- CYBERARK$30.2M
WOLF
$28.4M- CRACKER$26.5M
PRCH
$25.3MUBER
$24.0MDBX
$23.0MNTNX
$22.4MBBIO
$21.7M- ALPHATEC$21.0M
- ORACLE$19.3M
- COLLEGIUM$18.8M
SYNA
$15.9MON
$14.5MHAE
$14.5M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/silverback-asset-management-llc-1278960
SILVERBACK ASSET MANAGEMENT LLC 13F holdings — Q2 2026
$924.8M portfolio (+35.2% QoQ) · 64 holdings · Q2 2026 13F · top 10 are 46% of the stock portfolio
Includes $134.1M of put/call options ($3.1M puts, $131.0M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $790.7M. Weights use the stock portfolio.
$76.7M
9.7% of stocks
+40%This quarter+2.4%Since filed6+ qtrsHeld$43.3M
5.5% of stocks
NewThis quarter-34.0%Since filedNew this quarterHeld- 3
AVNET INC - NOTE 1.750% 9/0
$35.1M
4.4% of stocks
NewThis quarter—Since filedNew this quarterHeldAIQuality—Est. buy— - 4
JAZZ INVESTMENTS I LTD - NOTE 3.125% 9/1
$34.2M
4.3% of stocks
NewThis quarter—Since filedNew this quarterHeldAIQuality—Est. buy— - 5
INDIE SEMICONDUCTOR INC - NOTE 3.500% 12/1
$33.5M
4.2% of stocks
-21%This quarter—Since filed—HeldAIQuality—Est. buy— - 6
CHEESECAKE FACTORY INC - NOTE 2.000% 3/1
$31.8M
4.0% of stocks
NewThis quarter—Since filedNew this quarterHeldAIQuality—Est. buy— - 7
CYBERARK SOFTWARE LTD - NOTE 6/1
$30.2M
3.8% of stocks
NewThis quarter—Since filedNew this quarterHeldAIQuality—Est. buy— $28.4M
3.6% of stocks
-16%This quarter-25.8%Since filed6+ qtrsHeld- 9
CRACKER BARREL OLD CTRY STOR - NOTE 1.750% 9/1
$26.5M
3.4% of stocks
NewThis quarter—Since filedNew this quarterHeldAIQuality—Est. buy— $25.3M
3.2% of stocks
-5%This quarter+2.5%Since filed6+ qtrsHeld
| # | Company | Value | Weight | This quarter | Since filed | Held | AI quality | Est. buy | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | $76.7M | 9.7% | +40% | +2.4% | 6+ qtrsAdded 2 qtrs in a row | 66.4#411 | Estimated buy price is Pro: unlock with a free trial | ||
| 2 | $43.3M | 5.5% | New | -34.0% | New this quarter | 64.9#505 | Estimated buy price is Pro: unlock with a free trial | ||
| 3 | AVNET INC - NOTE 1.750% 9/0 | $35.1M | 4.4% | New | — | New this quarter | — | — | |
| 4 | JAZZ INVESTMENTS I LTD - NOTE 3.125% 9/1 | $34.2M | 4.3% | New | — | New this quarter | — | — | |
| 5 | INDIE SEMICONDUCTOR INC - NOTE 3.500% 12/1 | $33.5M | 4.2% | -21% | — | — | — | — | |
| 6 | CHEESECAKE FACTORY INC - NOTE 2.000% 3/1 | $31.8M | 4.0% | New | — | New this quarter | — | — | |
| 7 | CYBERARK SOFTWARE LTD - NOTE 6/1 | $30.2M | 3.8% | New | — | New this quarter | — | — | |
| 8 | $28.4M | 3.6% | -16% | -25.8% | 6+ qtrs | 27.7#2,543 | Estimated buy price is Pro: unlock with a free trial | ||
| 9 | CRACKER BARREL OLD CTRY STOR - NOTE 1.750% 9/1 | $26.5M | 3.4% | New | — | New this quarter | — | — | |
| 10 | $25.3M | 3.2% | -5% | +2.5% | 6+ qtrs | 51.6#1,539 | Estimated buy price is Pro: unlock with a free trial |
All holdings — SILVERBACK ASSET MANAGEMENT LLC (Q2 2026)
64 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | — CALL | ISHARES TR - RUSSELL 2000 ETF | — | $82.6M | — | 275K | +175% | — | — | 13F |
| 12 | Uber Technologies, Incnote | Technology | $24.0M | 3.0% | 20.00M | -13% | 4 qtrs | 73.2 | 13F | |
| 13 | DROPBOX, INC.note | Technology | $23.0M | 2.9% | 22.80M | +28% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Nutanix, Inc.note | Technology | $22.4M | 2.8% | 19.84M | -10% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | BridgeBio Pharma, Inc.note | Healthcare | $21.7M | 2.8% | 19.53M | -11% | 6+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | — | ALPHATEC HLDGS INC - NOTE 0.750% 3/1note | — | $21.0M | 2.7% | 22.03M | New | — | — | 13F |
| 17 | — | ORACLE CORP - 6.5 DEP CUM SR D | — | $19.3M | 2.4% | 430K | -12% | — | — | 13F |
| 18 | — | COLLEGIUM PHARMACEUTICAL INC - NOTE 2.875% 2/1note | — | $18.8M | 2.4% | 15.30M | +49% | — | — | 13F |
| 19 | SYNAPTICS Incnote | Technology | $15.9M | 2.0% | 10.68M | -48% | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | ON SEMICONDUCTOR CORPnote | Technology | $14.5M | 1.8% | 12.00M | -47% | 6+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | HAEMONETICS CORPnote | Healthcare | $14.5M | 1.8% | 14.28M | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Guidewire Software, Inc.note | Technology | $14.0M | 1.8% | 14.55M | +16% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Definium Therapeutics, Inc. | Healthcare | $13.8M | — | 294K | — | — | — | 13F | |
| 24 | GLOBAL PAYMENTS INCnote | Financials | $13.5M | 1.7% | 15.00M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | — | VARONIS SYS INC - NOTE 1.000% 9/1note | — | $13.1M | 1.6% | 13.46M | -34% | — | — | 13F |
| 26 | $HALO | HALOZYME THERAPEUTICS, INC. | Healthcare | $12.4M | 1.6% | 11.13M | — | |||
| 27 | $CENX | CENTURY ALUMINUM CO | Materials | $12.3M | 1.6% | 5.00M | New | |||
| 28 | $PRCH | Porch Group, Inc. | Technology | $12.2M | 1.6% | 11.71M | -32% | |||
| 29 | $ZS | Zscaler, Inc. | Technology | $11.7M | 1.5% | 12.63M | New | |||
| 30 | $ATEN | A10 Networks, Inc. | Technology | $11.5M | 1.4% | 6.75M | New | |||
| 31 | $VERX | Vertex, Inc. | Technology | $11.2M | 1.4% | 12.50M | -17% | |||
| 32 | $GLNG | GOLAR LNG LTD | Industrials | $11.0M | 1.4% | 9.70M | New | |||
| 33 | $WOLF | WOLFSPEED, INC. | Technology | $10.6M | 1.4% | 4.23M | New | |||
| 34 | $EVH | Evolent Health, Inc. | Technology | $10.6M | 1.3% | 13.52M | -19% | |||
| 35 | — | WOLFSPEED INC - NOTE 2.500% 6/1 | — | $10.3M | 1.3% | 2.61M | New | |||
| 36 | $VSH | VISHAY INTERTECHNOLOGY INC | Technology | $9.1M | 1.1% | 4.58M | -84% | |||
| 37 | $HLIT | HARMONIC INC. | Technology | $8.6M | 1.1% | 525K | -19% | |||
| 38 | $CYTK CALL | CYTOKINETICS INC | Healthcare | $8.5M | — | 100K | New | |||
| 39 | $WEC | WEC ENERGY GROUP, INC. | Utilities | $8.3M | 1.1% | 8.00M | New | |||
| 40 | — CALL | SELECT SECTOR SPDR TR - ST STR CARE ETF | — | $7.9M | — | 50K | New | |||
| 41 | — CALL | SPDR SERIES TRUST - ST STR SP BIOT | — | $7.9M | — | 50K | New | |||
| 42 | $AKAM | AKAMAI TECHNOLOGIES INC | Industrials | $7.8M | 1.0% | 6.50M | +160% | |||
| 43 | $EVH | Evolent Health, Inc. | Technology | $7.4M | 0.9% | 10.00M | — | |||
| 44 | — | VIRIDIAN THERAPEUTICS INC - NOTE 1.750% 5/1 | — | $7.0M | 0.9% | 6.50M | New | |||
| 45 | $OMCL | OMNICELL, INC. | Technology | $6.0M | 0.8% | 5.60M | -42% | |||
| 46 | $NTNX CALL | Nutanix, Inc. | Technology | $5.1M | — | 100K | New | |||
| 47 | $VRM | Vroom, Inc. | Consumer Discretionary | $3.5M | 0.4% | 449K | +3% | |||
| 48 | $CORZ | Core Scientific, Inc./tx | Financials | $3.4M | 0.4% | 132K | -18% | |||
| 49 | — | QIMONDA AG - NOTE 6.750% 3/2 | — | $3.2M | 0.4% | 12.40M | — | |||
| 50 | $LCID PUT | Lucid Group, Inc. | Consumer Discretionary | $3.1M | — | 470K | — | |||
| 51 | $PAR CALL | PAR TECHNOLOGY CORP | Technology | $2.6M | — | 150K | — | |||
| 52 | $WULF | TERAWULF INC. | Financials | $2.4M | 0.3% | 97K | — | |||
| 53 | $ASTS | AST SpaceMobile, Inc. | Communication Services | $2.2M | 0.3% | 24K | — | |||
| 54 | $AVAV | AeroVironment Inc | Industrials | $2.0M | 0.3% | 12K | — | |||
| 55 | $TEM | Tempus AI, Inc. | Technology | $1.7M | 0.2% | 29K | -20% | |||
| 56 | $EYPT CALL | EyePoint, Inc. | Healthcare | $1.4M | — | 100K | — | |||
| 57 | $KPTI CALL | Karyopharm Therapeutics Inc. | Healthcare | $977K | — | 100K | — | |||
| 58 | $LPSN | LIVEPERSON INC | Technology | $922K | 0.1% | 485K | — | |||
| 59 | $EYPT | EyePoint, Inc. | Healthcare | $715K | 0.1% | 50K | — | |||
| 60 | $NOTV | Inotiv, Inc. | Healthcare | $583K | 0.1% | 17.09M | — | |||
| 61 | $MX | MAGNACHIP SEMICONDUCTOR Corp | Technology | $473K | 0.1% | 100K | -55% | |||
| 62 | $OCGN | Ocugen, Inc. | Healthcare | $383K | 0.1% | 250K | New | |||
| 63 | $ARAY | ACCURAY INC | Healthcare | $374K | 0.1% | 1.45M | -12% | |||
| 64 | $KPTI | Karyopharm Therapeutics Inc. | Healthcare | $293K | 0.0% | 30K | -54% |
What changed in Q2 2026
Against the previous quarter's 13F: 20 new, 7 added to, 21 trimmed, 15 sold out. Share-count changes; largest moves by dollar size first.
New positions (20)
first bought this quarter
- AVNET INC - NOTE 1.750% 9/0$35.1M
first bought this quarter
- JAZZ INVESTMENTS I LTD - NOTE 3.125% 9/1$34.2M
first bought this quarter
- CHEESECAKE FACTORY INC - NOTE 2.000% 3/1$31.8M
first bought this quarter
- CYBERARK SOFTWARE LTD - NOTE 6/1$30.2M
first bought this quarter
- CRACKER BARREL OLD CTRY STOR - NOTE 1.750% 9/1$26.5M
first bought this quarter
+14 more in the Excel export
Added to (7)
- CALLISHARES TR - RUSSELL 2000 ETF+175%
now $82.6M
now $76.7M · held 6+ qtrs, 2 adds in a row
- COLLEGIUM PHARMACEUTICAL INC - NOTE 2.875% 2/1+49%
now $18.8M
now $23.0M · held 2 qtrs, 2 adds in a row
$AKAMAKAMAI TECHNOLOGIES INC+160%
now $7.8M · held 6+ qtrs
$GWREGuidewire Software, Inc.+16%
now $14.0M · held 2 qtrs, 2 adds in a row
+1 more in the Excel export
Trimmed (21)
$VSHVISHAY INTERTECHNOLOGY INC-84%
now $9.1M · held 6+ qtrs, 2 trims in a row
now $15.9M · held 2 qtrs
now $14.5M · held 6+ qtrs, 2 trims in a row
- INDIE SEMICONDUCTOR INC - NOTE 3.500% 12/1-21%
now $33.5M
- VARONIS SYS INC - NOTE 1.000% 9/1-34%
now $13.1M
now $28.4M · held 6+ qtrs
+15 more in the Excel export
Holdings by quarter
Every 13F SILVERBACK ASSET MANAGEMENT LLC has filed, 34 earlier quarters. Pick one to see what it held then.
Is it too late to follow SILVERBACK ASSET MANAGEMENT?
Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of SILVERBACK ASSET MANAGEMENT's top 20 holdings: 56/100 (our AI quality score, weighted by position size; 19 of the 20 are scored)
Top 10 since filing
-7.7%
Value-weighted move of the 10 largest stock positions
Turnover
27%
Last quarter; 115% over the last 4
Top 10 weight
46%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
57%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2025 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
SILVERBACK ASSET MANAGEMENT LLC disclosed 64 positions worth $924.8M in its Form 13F-HR for Q2 2026 — $790.7M in common stock plus $134.1M of put/call option positions (reported at underlying notional value, not premium at risk), led by $SMTC (SEMTECH CORP) at 9.7% of the equity portfolio, followed by $MKSI. During the quarter the fund opened 20 new positions and exited 15 — including a new stake in $MKSI and a full exit from $SPY. The portfolio is most concentrated in Technology (49.2% of disclosed assets). All figures are sourced directly from SILVERBACK ASSET MANAGEMENT LLC’s Form 13F-HR filing with the SEC under CIK 1278960.
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Every holding in SILVERBACK ASSET MANAGEMENT LLC's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.