SILVERBACK ASSET MANAGEMENT LLC

Q4 2025 13F-HR Holdings

Location
Durham, NC
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
56
Total value ($000)
$683,800
Net value change ($000)
-360,425 (-34.5%)
New positions
7
Sold out positions
2
Turnover %
66.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AVAV 2,927 NEW
ARRY 2,722 NEW
CORZ 2,343 NEW
LPSN 1,877 NEW
ASTS 1,758 NEW
TEM 1,459 NEW
WULF 1,110 NEW
NEO 388 25.0%
GOSS 235 17.9%
KPTI 32 12.2%
Top Reduces (Value $000, Stocks/ETFs)
WOLF -8,191 -100.0%
VRM -2,748 -24.5%
AVDL -1,680 -100.0%
ARAY -516 -29.0%
HLIT -438 -6.4%
STNG -157 -9.3%
MX -128 -18.6%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 14,753 (2.2% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type