SHENKMAN CAPITAL MANAGEMENT INC
Long book
$165.8M
Q1 2026
Positions
7
Top-10 weight
100%
concentration
Last quarter
+1.5%
SPY +14.8%
Turnover
64%
of book per quarter
Strategy in plain words
auto-generated from filingsSHENKMAN CAPITAL MANAGEMENT INC is a wealth-management firm allocating client money, specialised in financials (100% of the long book), running a $165.8M US long book across 7 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ISHARES BROAD USD HIGH YIELD, SS SPDR BB ST HI YIELD ETF, INVESCO SENIOR LOAN ETF, WHIRLPOOL CORP, ONITY GROUP INC.
Over the last 9 quarters its long book ran on average 1.3pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.0%
Q2 2024
+21.6%
Q3 2024
-4.8%
Q4 2024
+0.7%
Q1 2025
+1.3%
Q2 2025
+4.8%
Q3 2025
+2.7%
Q4 2025
-1.1%
Q1 2026
+1.5%
Sector allocation
Other 66%
Financials 34%
Long book by quarter
What does SHENKMAN CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WHR 8.5 02/15/29 A WHIRLPOOL CORP | — | 150.0K | $6.1M | 3.7% | New |
| ONIT ONITY GROUP INC | Financials | 76.9K | $3.2M | 1.9% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 81 | $830.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 97 | $947.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 123 | $1.02B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 124 | $1.00B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 126 | $983.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 99 | $1.14B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 110 | $1.29B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 114 | $1.16B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 9, 2024 | 122 | $1.42B | canonical | SEC ↗ |