# EDGAR Filing Document

**Accession Number:** 0001009012
**File Stem:** 0001420506-26-001189
**Filing Date:** 2026-6
**Character Count:** 19553
**Document Hash:** a1c769047fb767a576883b9a4de62801
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-001189.hdr.sgml**: 20260618

**ACCESSION NUMBER**: 0001420506-26-001189

**CONFORMED SUBMISSION TYPE**: 13F-HR/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260618

**DATE AS OF CHANGE**: 20260617

**EFFECTIVENESS DATE**: 20260618

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ZAZOVE ASSOCIATES LLC
- **CENTRAL INDEX KEY:** 0001009012

**ORGANIZATION NAME:**
- **EIN:** 363984373
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05338
- **FILM NUMBER:** 261099609

**BUSINESS ADDRESS:**
- **STREET 1:** 1001 TAHOE BLVD.
- **CITY:** INCLINE VILLAGE
- **STATE:** NV
- **ZIP:** 89451
- **BUSINESS PHONE:** 77529897500

**MAIL ADDRESS:**
- **STREET 1:** 1001 TAHOE BLVD.
- **CITY:** INCLINE VILLAGE
- **STATE:** NV
- **ZIP:** 89451

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [x] **Amendment Number:** 1

**This Amendment (Check only one.):** [ ] is a restatement.

[x] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** ZAZOVE ASSOCIATES LLC<br>**Address:** 1001 TAHOE BLVD.<br>INCLINE VILLAGE, NV 89451

**Form 13F File Number:** 028-05338

**CRD Number (if applicable):** 000104751

**SEC File Number (if applicable):** 801-34818

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Lamiaa Dukaj<br>**Title:** Chief Compliance Officer<br>**Phone:** 7752987500

**Signature, Place, and Date of Signing:**

Lamiaa Dukaj Chief Compliance Officer  Incline Village, NV  05-15-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 151

**Form 13F Information Table Value Total:** $957042295

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADAM NAT RES FD INC | COM | 00548F105 |  | 26910 | 968 | SH |  | SOLE |  | 968 | 0 | 0 |
| AEROVIRONMENT INC | NOTE         7/1 | 008073AA6 |  | 28113616 | 28520000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| AFFIRM HLDGS INC | NOTE  0.750%12/1 | 00827BAD8 |  | 4207769 | 4500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| AFFIRM HLDGS INC | NOTE        11/1 | 00827BAB2 |  | 247189 | 255000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| AIRJOULE TECHNOLOGIES CORP | *W EXP 03/15/202 | 612160119 |  | 8949 | 15700 | SH |  | SOLE |  | 15700 | 0 | 0 |
| ALLIANCEBERNSTEIN HLDG L P | UNIT LTD PARTN | 01881G106 |  | 685152 | 18300 | SH |  | SOLE |  | 18300 | 0 | 0 |
| ALLIANCEBERNSTEIN HLDG L P | CALL | 01881G906 |  | 150000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| AMERICAN WTR CAP CORP | NOTE  3.625% 6/1 | 03040WBE4 |  | 10538948 | 10555000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| AMERICAS GOLD AND SILVER COR | COM NEW | 03062D803 |  | 522000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| AMPRIUS TECHNOLOGIES INC | *W EXP 09/14/202 | 03214Q116 |  | 529650 | 77096 | SH |  | SOLE |  | 77096 | 0 | 0 |
| ARCHER AVIATION INC | *W EXP 09/16/202 | 03945R110 |  | 323157 | 1190265 | SH |  | SOLE |  | 1190265 | 0 | 0 |
| ASA GOLD AND PRECIOUS MTLS L | SHS | G3156P103 |  | 2025590 | 32655 | SH |  | SOLE |  | 32655 | 0 | 0 |
| ASCENDIS PHARMA A/S | NOTE  2.250% 4/0 | 04351PAD3 |  | 1545501 | 1050000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| B2GOLD CORP | COM | 11777Q209 |  | 337938 | 74600 | SH |  | SOLE |  | 74600 | 0 | 0 |
| B2GOLD CORP | CALL | 11777Q909 |  | 816375 | 777500 | SH | Call | SOLE |  | 777500 | 0 | 0 |
| B2GOLD CORP | CALL | 11777Q909 |  | 16313 | 26100 | SH | Call | SOLE |  | 26100 | 0 | 0 |
| BANDWIDTH INC | NOTE  0.500% 4/0 | 05988JAD5 |  | 563625 | 630000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 42504299 | 35665 | SH |  | SOLE |  | 35665 | 0 | 0 |
| BATH  BODY WORKS INC | CALL | 070830904 |  | 90000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| BENTLEY SYS INC | NOTE  0.375% 7/0 | 08265TAD1 |  | 248006 | 260000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BKV CORP | COM | 05603J108 |  | 1426000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| BLACKSTONE MORTGAGE TRUST IN | NOTE  5.500% 3/1 | 09257WAE0 |  | 384059 | 385000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BLOCK INC | NOTE         5/0 | 852234AJ2 |  | 114568 | 115000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BOFA FIN LLC | MTNF  0.600% 5/2 | 09709UV70 |  | 32316929 | 26942000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BRAEMAR HOTELS  RESORTS INC | 5.5 CUM CV PFD B | 10482B200 |  | 2168103 | 149113 | SH |  | SOLE |  | 149113 | 0 | 0 |
| BRAEMAR HOTELS  RESORTS INC | NOTE  4.500% 6/0 | 10482BAB7 |  | 16871987 | 17020000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BRAEMAR HOTELS  RESORTS INC | COM | 10482B101 |  | 4003251 | 1696293 | SH |  | SOLE |  | 1696293 | 0 | 0 |
| BRC INC | COM CL A | 05601U105 |  | 1552400 | 2000000 | SH |  | SOLE |  | 2000000 | 0 | 0 |
| BROOKDALE SR LIVING INC | NOTE  2.000%10/1 | 112463AC8 |  | 24536045 | 14350000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BROOKDALE SR LIVING INC | NOTE  3.500%10/1 | 112463AF1 |  | 49549 | 30000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| BROOKDALE SR LIVING INC | COM | 112463104 |  | 1299600 | 95000 | SH |  | SOLE |  | 95000 | 0 | 0 |
| CABLE ONE INC | NOTE  1.125% 3/1 | 12685JAG0 |  | 240524 | 310000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| CERENCE INC | NOTE  1.500% 7/0 | 156727AD1 |  | 326749 | 375000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| CHEESECAKE FACTORY INC | NOTE  2.000% 3/1 | 163072AC5 |  | 21092751 | 20670000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| CLOUDFLARE INC | NOTE         8/1 | 18915MAC1 |  | 2289174 | 1950000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| CMS ENERGY CORP | NOTE  3.375% 5/0 | 125896BX7 |  | 2378478 | 2105000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| COINBASE GLOBAL INC | NOTE  0.500% 6/0 | 19260QAB3 |  | 64503 | 65000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| CRACKER BARREL OLD CTRY STOR | NOTE  0.625% 6/1 | 22410JAB2 |  | 395211 | 400000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| CVR ENERGY INC | PUT | 12662P958 |  | 262500 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| CVR PARTNERS LP/CVR NITROGEN | COM | 126633205 |  | 4886675 | 38578 | SH |  | SOLE |  | 38578 | 0 | 0 |
| DATADOG INC | NOTE        12/0 | 23804LAD5 |  | 2714507 | 2800000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| DUKE ENERGY CORP NEW | NOTE  4.125% 4/1 | 26441CBY0 |  | 9143201 | 8290000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| EL PASO ENERGY CAP TR I | PFD CV TR SEC 28 | 283678209 |  | 57087 | 1121 | SH |  | SOLE |  | 1121 | 0 | 0 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 96500 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| ENPHASE ENERGY INC | NOTE         3/0 | 29355AAK3 |  | 268536 | 300000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| EPR PPTYS | CONV PFD 9% SR E | 26884U307 |  | 169442 | 5571 | SH |  | SOLE |  | 5571 | 0 | 0 |
| EVERGY INC | NOTE  4.500%12/1 | 30034WAD8 |  | 22985476 | 17025000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| FLUENCE ENERGY INC | NOTE  2.250% 6/1 | 34379VAB9 |  | 3032933 | 3000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| FLUOR CORP | NOTE  1.125% 8/1 | 343412AJ1 |  | 49331950 | 40315000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| FRESHPET INC | NOTE  3.000% 4/0 | 358039AB1 |  | 6695853 | 5770000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| GDL FD | COM SH BEN IT | 361570104 |  | 1003948 | 120522 | SH |  | SOLE |  | 120522 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 |  | 11166 | 300 | SH |  | SOLE |  | 300 | 0 | 0 |
| GENESIS ENERGY L P | CALL | 371927904 |  | 438195 | 133800 | SH | Call | SOLE |  | 133800 | 0 | 0 |
| GLOBAL PMTS INC | NOTE  1.500% 3/0 | 37940XAU6 |  | 13608739 | 15460000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| GOLD ROYALTY CORP | COMMON SHARES | 38071H106 |  | 1074000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | CALL | 38141G904 |  | 311375 | 5000 | SH | Call | SOLE |  | 5000 | 0 | 0 |
| GRANITE RIDGE RESOURCES INC | COM | 387432107 |  | 4067652 | 692956 | SH |  | SOLE |  | 692956 | 0 | 0 |
| GROUPON INC | NOTE  6.250% 3/1 | 399473AH0 |  | 2013240 | 2000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| GUIDEWIRE SOFTWARE INC | NOTE  1.250%11/0 | 40171VAC4 |  | 29542634 | 29585000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| HAEMONETICS CORP MASS | NOTE  2.500% 6/0 | 405024AD2 |  | 19895353 | 20875000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| HERTZ GLOBAL HLDGS INC | CALL | 42806J900 |  | 36250 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| HUDSON TECHNOLOGIES INC | COM | 444144109 |  | 294000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| I-80 GOLD CORP | *W EXP 11/16/202 | 44955L155 |  | 46159 | 38466 | SH |  | SOLE |  | 38466 | 0 | 0 |
| IMPINJ INC | NOTE  1.125% 5/1 | 453204AD1 |  | 6054027 | 5000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| INTEGER HLDGS CORP | NOTE  2.125% 2/1 | 45826HAB5 |  | 22323195 | 18783000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| INTEGER HLDGS CORP | DBCV  1.875% 3/1 | 45826HAD1 |  | 1499607 | 1565000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| IRONWOOD PHARMACEUTICALS INC | NOTE  1.500% 6/1 | 46333XAH1 |  | 542417 | 550000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| ITRON INC | NOTE  1.375% 7/1 | 465741AQ9 |  | 43504777 | 43295000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| JAZZ INVESTMENTS I LTD | NOTE  3.125% 9/1 | 472145AH4 |  | 22093886 | 15635000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| JD.COM INC | NOTE  0.250% 6/0 | 47215PAJ5 |  | 1128844 | 1130000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| JOBY AVIATION INC | NOTE  0.750% 2/1 | 47775AAA9 |  | 8215109 | 9630000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| KAYNE ANDERSON ENERGY INFRST | COM | 486606106 |  | 5925643 | 414961 | SH |  | SOLE |  | 414961 | 0 | 0 |
| KOSMOS ENERGY LTD | NOTE  3.125% 3/1 | 500688AH9 |  | 1184506 | 1500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| LANTHEUS HLDGS INC | NOTE  2.625%12/1 | 516544AB9 |  | 2998247 | 2500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| LANVIN GROUP HOLDINGS LIMITE | *W EXP 01/14/202 | G5380J118 |  | 15951 | 1334846 | SH |  | SOLE |  | 1334846 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | NOTE  2.250% 8/1 | 531229AQ5 |  | 3362425 | 2920000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | NOTE  3.750% 3/1 | 531229AP7 |  | 1604224 | 1550000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| LITHIUM ARGENTINA AG | NOTE  1.750% 1/1 | 53680QAA6 |  | 444235 | 460000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| LIVE NATION ENTERTAINMENT IN | NOTE  2.875% 1/1 | 538034BC2 |  | 1191613 | 1100000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| LUXEXPERIENCE BV | SPONSORED ADS | 55406W103 |  | 1602992 | 200374 | SH |  | SOLE |  | 200374 | 0 | 0 |
| LYFT INC | NOTE  0.625% 3/0 | 55087PAD6 |  | 18723730 | 18500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| MARRIOTT VACATIONS WORLDWIDE | NOTE  3.250%12/1 | 57164YAF4 |  | 404357 | 420000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| MKS INC. | NOTE  1.250% 6/0 | 55306NAB0 |  | 4147475 | 2500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| MNTN INC | CL A | 55318A108 |  | 1322834 | 150322 | SH |  | SOLE |  | 150322 | 0 | 0 |
| NABORS INDS INC | NOTE  1.750% 6/1 | 62957HAL9 |  | 1613654 | 1747000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| NATIONAL CINEMEDIA INC | COM NEW | 635309206 |  | 1399764 | 458939 | SH |  | SOLE |  | 458939 | 0 | 0 |
| NCL CORP LTD | NOTE  2.500% 2/1 | 62886HBK6 |  | 1481660 | 1500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| NET POWER INC | *W EXP 06/08/202 | 64107A113 |  | 428503 | 1538612 | SH |  | SOLE |  | 1538612 | 0 | 0 |
| NEXTNAV INC | *W EXP 99/99/999 | 65345N114 |  | 1066594 | 170655 | SH |  | SOLE |  | 170655 | 0 | 0 |
| NORTHERN OIL  GAS INC | NOTE  3.625% 4/1 | 665531AJ8 |  | 14800690 | 13401000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| NUTANIX INC | NOTE  0.250%10/0 | 67059NAH1 |  | 31649961 | 30975000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| NUTANIX INC | NOTE  0.500%12/1 | 67059NAK4 |  | 135866 | 150000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| OKTA INC | NOTE  0.375% 6/1 | 679295AF2 |  | 239964 | 242000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| ON SEMICONDUCTOR CORP | NOTE  0.500% 3/0 | 682189AU9 |  | 3931034 | 4000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| OPKO HEALTH INC | NOTE  3.750% 1/1 | 68375NAG8 |  | 7450762 | 5918000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| OPKO HEALTH INC | COM | 68375N103 |  | 171000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| OPPFI INC | *W EXP 07/20/202 | 68386H111 |  | 199095 | 1560914 | SH |  | SOLE |  | 1560914 | 0 | 0 |
| ORMAT TECHNOLOGIES INC | NOTE  2.500% 7/1 | 686688AB8 |  | 98256 | 75000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| OSISKO DEVELOPMENT CORP | COM NEW | 68828E809 |  | 845000 | 260000 | SH |  | SOLE |  | 260000 | 0 | 0 |
| PARSONS CORP DEL | NOTE  2.625% 3/0 | 70202LAD4 |  | 61629704 | 62237000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| PBF ENERGY INC | PUT | 69318G956 |  | 68000 | 40000 | SH | Put | SOLE |  | 40000 | 0 | 0 |
| PG CORP | NOTE  4.250%12/0 | 69331CAL2 |  | 6233570 | 6000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| PORCH GROUP INC | COM | 733245104 |  | 758916 | 105846 | SH |  | SOLE |  | 105846 | 0 | 0 |
| PPL CAP FDG INC | NOTE  2.875% 3/1 | 69352PAS2 |  | 32676684 | 27880000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| PSQ HOLDINGS INC | *W EXP 07/19/202 | 693691115 |  | 20809 | 491935 | SH |  | SOLE |  | 491935 | 0 | 0 |
| PURECYCLE TECHNOLOGIES INC | COM | 74623V103 |  | 134260 | 25869 | SH |  | SOLE |  | 25869 | 0 | 0 |
| PURECYCLE TECHNOLOGIES INC | *W EXP 06/17/202 | 74623V111 |  | 508254 | 655812 | SH |  | SOLE |  | 655812 | 0 | 0 |
| REDFIN CORP | NOTE  0.500% 4/0 | 75737FAE8 |  | 401277 | 420000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| REPLIGEN CORP | NOTE  1.000%12/1 | 759916AD1 |  | 25571032 | 26300000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | NOTE  4.625% 3/1 | 76954AAB9 |  | 5354336 | 5000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| RLJ LODGING TR | CUM CONV PFD A | 74965L200 |  | 226183 | 9266 | SH |  | SOLE |  | 9266 | 0 | 0 |
| ROADZEN INC | *W EXP 11/30/202 | G7606H116 |  | 20324 | 150602 | SH |  | SOLE |  | 150602 | 0 | 0 |
| ROBO.AI INC. | *W EXP 11/11/202 | G6693P114 |  | 1392 | 64571 | SH |  | SOLE |  | 64571 | 0 | 0 |
| RUMBLE INC | *W EXP 09/16/202 | 78137L113 |  | 1180664 | 1146276 | SH |  | SOLE |  | 1146276 | 0 | 0 |
| SEA LTD | NOTE  0.250% 9/1 | 81141RAG5 |  | 82222 | 84000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SHIFT4 PMTS INC | NOTE  0.500% 8/0 | 82452JAD1 |  | 2638845 | 2810000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SILVERCORP METALS INC | COM | 82835P103 |  | 537000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| SIMPLIFY EXCHANGE TRADED FUN | VOLATILITY PREM | 82889N863 |  | 167206 | 10900 | SH |  | SOLE |  | 10900 | 0 | 0 |
| SNAP INC | NOTE  0.125% 3/0 | 83304AAH9 |  | 419979 | 460000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SNOWFLAKE INC | NOTE        10/0 | 833445AB5 |  | 11813492 | 10000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SNOWFLAKE INC | NOTE        10/0 | 833445AD1 |  | 3622627 | 2965000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SOFI TECHNOLOGIES INC | CALL | 83406F902 |  | 72000 | 50000 | SH | Call | SOLE |  | 50000 | 0 | 0 |
| SOUTHERN CO | NOTE  4.500% 6/1 | 842587DZ7 |  | 31708267 | 28550000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A474 |  | 6014000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| SPDR SERIES TRUST | PUT | 78464A959 |  | 19840 | 32000 | SH | Put | SOLE |  | 32000 | 0 | 0 |
| STATE STR SPDR S 500 ETF T | PUT | 78462F953 |  | 25290 | 6000 | SH | Put | SOLE |  | 6000 | 0 | 0 |
| STRATEGY INC | NOTE        12/0 | 594972AS0 |  | 259711 | 310000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| SUNPOWER INC | *W EXP 07/31/202 | 20460L112 |  | 2662 | 11327 | SH |  | SOLE |  | 11327 | 0 | 0 |
| SUPER MICRO COMPUTER INC | NOTE  2.250% 7/1 | 86800UAD6 |  | 3439661 | 4000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| T1 ENERGY INC | NOTE  5.250%12/0 | 35834FAB0 |  | 6262375 | 5950000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| T1 ENERGY INC | COM NEW | 35834F104 |  | 439000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| TETRA TECH INC NEW | DBCV  2.250% 8/1 | 88162GAB9 |  | 61932004 | 58880000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| TH INTERNATIONAL LIMITED | SHS NEW | G8656L130 |  | 429487 | 208489 | SH |  | SOLE |  | 208489 | 0 | 0 |
| THE REALREAL INC | DEBT  4.000% 2/1 | 88339PAJ0 |  | 13186237 | 11138000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| THE REALREAL INC | COM | 88339P101 |  | 1452800 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| TRANSMEDICS GROUP INC | NOTE  1.500% 6/0 | 89377MAB5 |  | 3231857 | 2500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| TRIP COM GROUP LTD | NOTE  0.750% 6/1 | 89677QAB3 |  | 1400433 | 1350000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| UBER TECHNOLOGIES INC | NOTE  0.875%12/0 | 90353TAM2 |  | 48331084 | 40000000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| UPSTART HLDGS INC | NOTE  1.000%11/1 | 91680MAF4 |  | 1816741 | 2500000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| URBAN ONE INC | COM SHS CL D NON | 91705J402 |  | 2826237 | 508316 | SH |  | SOLE |  | 508316 | 0 | 0 |
| URBAN ONE INC | CL A SHS | 91705J303 |  | 252003 | 43004 | SH |  | SOLE |  | 43004 | 0 | 0 |
| VANGUARD BD INDEX FDS | VANGUARD ULTRA | 92203C303 |  | 4978500 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| VENTAS RLTY LTD PARTNERSHIP | NOTE  3.750% 6/0 | 92277GAZ0 |  | 7680239 | 5153000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| VERTEX INC | NOTE  0.750% 5/0 | 92538JAB2 |  | 7039043 | 8095000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| WELLS FARGO  CO | PERP PFD CNV A | 949746804 |  | 254489 | 220 | SH |  | SOLE |  | 220 | 0 | 0 |
| WESTROCK COFFEE CO | COM | 96145W103 |  | 2380017 | 560004 | SH |  | SOLE |  | 560004 | 0 | 0 |
| WHIRLPOOL CORP | 8.5 DEP SR A CNV | 963320205 |  | 925650 | 22500 | SH |  | SOLE |  | 22500 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 |  | 53920 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| WHIRLPOOL CORP | CALL | 963320906 |  | 2250 | 30000 | SH | Call | SOLE |  | 30000 | 0 | 0 |
| WORLD KINECT CORPORATION | NOTE  3.250% 7/0 | 98149GAB6 |  | 5362501 | 5095000 | PRN |  | SOLE |  | 0 | 0 | 0 |
| ZIFF DAVIS INC | DEBT  3.625% 3/0 | 48123VAH5 |  | 397085 | 404000 | PRN |  | SOLE |  | 0 | 0 | 0 |

---