CONTEXT CAPITAL MANAGEMENT, LLC

Filed: 2/13/2026ACC: 0001420506-26-000398

📋 What this filing means

CONTEXT CAPITAL MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 327 equity positions with a total reported market value of $3.88B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

327

Positions

$3.88B

Total AUM (reported)

3.18B

Total Shares

Allocation by class

NOTE 2.250% 6/1$208.27M5.4%

NOTE 12/0$187.55M4.8%

NOTE 3.875%11/3$159.91M4.1%

NOTE 5.500%12/0$134.96M3.5%

NOTE 6/0$120.53M3.1%

NOTE 1.250% 6/0$111.84M2.9%

NOTE 3.875%10/1$109.84M2.8%

Portfolio Concentration

Top 3$482.41M12.4%

4–10$700.06M18.0%

11–25$989.66M25.5%

Rest$1.71B44.0%

Top 3 weight

12.4%

Top 10 weight

30.5%

Voting Authority Distribution

Total shares with voting rights: 3.18B

Sole

Full voting authority

3.18B

% of voting shares100.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

0.00

% of voting shares0.0%

Investment Discretion (by position count)

Sole327

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings327

Rows:

STRATEGY INC

SOLE

NOTE 12/0

Shares227.72M

TypePRN

Market value$187.55M

4.83%

Sole

227.72M

Shared

0.00

None

0.00

ECHOSTAR CORP

SOLE

NOTE 3.875%11/3

Shares47.84M

TypePRN

Market value$159.91M

4.12%

Sole

47.84M

Shared

0.00

None

0.00

PELOTON INTERACTIVE INC

SOLE

NOTE 5.500%12/0

Shares80.94M

TypePRN

Market value$134.96M

3.48%

Sole

80.94M

Shared

0.00

None

0.00

MARA HOLDINGS INC

SOLE

NOTE 6/0

Shares144M

TypePRN

Market value$120.53M

3.11%

Sole

144M

Shared

0.00

None

0.00

CONMED CORP

SOLE

NOTE 2.250% 6/1

Shares119.43M

TypePRN

Market value$114.65M

2.95%

Sole

119.43M

Shared

0.00

None

0.00

TELADOC HEALTH INC

SOLE

NOTE 1.250% 6/0

Shares117.11M

TypePRN

Market value$111.84M

2.88%

Sole

117.11M

Shared

0.00

None

0.00

FLUENCE ENERGY INC

SOLE

NOTE 2.250% 6/1

Shares77.17M

TypePRN

Market value$93.62M

2.41%

Sole

77.17M

Shared

0.00

None

0.00

BRIDGEBIO PHARMA INC

SOLE

NOTE 2.250% 2/0

Shares79.75M

TypePRN

Market value$89.82M

2.31%

Sole

79.75M

Shared

0.00

None

0.00

SUPER MICRO COMPUTER INC

SOLE

NOTE 3.500% 3/0

Shares97.36M

TypePRN

Market value$86.89M

2.24%

Sole

97.36M

Shared

0.00

None

0.00

TANDEM DIABETES CARE INC

SOLE

NOTE 1.500% 3/1

Shares81.13M

TypePRN

Market value$82.70M

2.13%

Sole

81.13M

Shared

0.00

None

0.00

TRAVERE THERAPEUTICS INC

SOLE

NOTE 2.250% 3/0

Shares57.46M

TypePRN

Market value$81.99M

2.11%

Sole

57.46M

Shared

0.00

None

0.00

CLEANSPARK INC

SOLE

NOTE 6/1

Shares78.14M

TypePRN

Market value$81.21M

2.09%

Sole

78.14M

Shared

0.00

None

0.00

ENOVIS CORPORATION

SOLE

NOTE 3.875%10/1

Shares82.54M

TypePRN

Market value$80.83M

2.08%

Sole

82.54M

Shared

0.00

None

0.00

PENNYMAC CORP

SOLE

NOTE 8.500% 6/0

Shares73.90M

TypePRN

Market value$78.55M

2.02%

Sole

73.90M

Shared

0.00

None

0.00

CENTURY ALUM CO

SOLE

NOTE 2.750% 5/0

Shares33.75M

TypePRN

Market value$71.02M

1.83%

Sole

33.75M

Shared

0.00

None

0.00

RIVIAN AUTOMOTIVE INC

SOLE

NOTE 4.625% 3/1

Shares55.54M

TypePRN

Market value$69.94M

1.80%

Sole

55.54M

Shared

0.00

None

0.00

PACIRA BIOSCIENCES INC

SOLE

NOTE 2.125% 5/1

Shares68.81M

TypePRN

Market value$69.37M

1.79%

Sole

68.81M

Shared

0.00

None

0.00

IMMUNOCORE HLDGS PLC

SOLE

NOTE 2.500% 2/0

Shares71.54M

TypePRN

Market value$65.01M

1.68%

Sole

71.54M

Shared

0.00

None

0.00

GROUPON INC

SOLE

NOTE 4.875% 6/3

Shares69.88M

TypePRN

Market value$61.67M

1.59%

Sole

69.88M

Shared

0.00

None

0.00

ARRAY TECHNOLOGIES INC

SOLE

NOTE 1.000%12/0

Shares62.95M

TypePRN

Market value$57.24M

1.47%

Sole

62.95M

Shared

0.00

None

0.00

APPLIED DIGITAL CORP

SOLE

NOTE 2.750% 6/0

Shares21.12M

TypePRN

Market value$57.10M

1.47%

Sole

21.12M

Shared

0.00

None

0.00

PAGERDUTY INC

SOLE

NOTE 1.500%10/1

Shares57.73M

TypePRN

Market value$55.17M

1.42%

Sole

57.73M

Shared

0.00

None

0.00

SSR MINING IN

SOLE

NOTE 2.500% 4/0

Shares41.95M

TypePRN

Market value$54.81M

1.41%

Sole

41.95M

Shared

0.00

None

0.00

WAYFAIR INC

SOLE

NOTE 3.500%11/1

Shares23.15M

TypePRN

Market value$53.04M

1.37%

Sole

23.15M

Shared

0.00

None

0.00

UPSTART HLDGS INC

SOLE

NOTE 1.000%11/1

Shares60.17M

TypePRN

Market value$52.73M

1.36%

Sole

60.17M

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
STRATEGY INCSOLE	NOTE 12/0	227.72M	PRN	$187.55M 4.83%	227.72M
ECHOSTAR CORPSOLE	NOTE 3.875%11/3	47.84M	PRN	$159.91M 4.12%	47.84M
PELOTON INTERACTIVE INCSOLE	NOTE 5.500%12/0	80.94M	PRN	$134.96M 3.48%	80.94M
MARA HOLDINGS INCSOLE	NOTE 6/0	144M	PRN	$120.53M 3.11%	144M
CONMED CORPSOLE	NOTE 2.250% 6/1	119.43M	PRN	$114.65M 2.95%	119.43M
TELADOC HEALTH INCSOLE	NOTE 1.250% 6/0	117.11M	PRN	$111.84M 2.88%	117.11M
FLUENCE ENERGY INCSOLE	NOTE 2.250% 6/1	77.17M	PRN	$93.62M 2.41%	77.17M
BRIDGEBIO PHARMA INCSOLE	NOTE 2.250% 2/0	79.75M	PRN	$89.82M 2.31%	79.75M
SUPER MICRO COMPUTER INCSOLE	NOTE 3.500% 3/0	97.36M	PRN	$86.89M 2.24%	97.36M
TANDEM DIABETES CARE INCSOLE	NOTE 1.500% 3/1	81.13M	PRN	$82.70M 2.13%	81.13M
TRAVERE THERAPEUTICS INCSOLE	NOTE 2.250% 3/0	57.46M	PRN	$81.99M 2.11%	57.46M
CLEANSPARK INCSOLE	NOTE 6/1	78.14M	PRN	$81.21M 2.09%	78.14M
ENOVIS CORPORATIONSOLE	NOTE 3.875%10/1	82.54M	PRN	$80.83M 2.08%	82.54M
PENNYMAC CORPSOLE	NOTE 8.500% 6/0	73.90M	PRN	$78.55M 2.02%	73.90M
CENTURY ALUM COSOLE	NOTE 2.750% 5/0	33.75M	PRN	$71.02M 1.83%	33.75M
RIVIAN AUTOMOTIVE INCSOLE	NOTE 4.625% 3/1	55.54M	PRN	$69.94M 1.80%	55.54M
PACIRA BIOSCIENCES INCSOLE	NOTE 2.125% 5/1	68.81M	PRN	$69.37M 1.79%	68.81M
IMMUNOCORE HLDGS PLCSOLE	NOTE 2.500% 2/0	71.54M	PRN	$65.01M 1.68%	71.54M
GROUPON INCSOLE	NOTE 4.875% 6/3	69.88M	PRN	$61.67M 1.59%	69.88M
ARRAY TECHNOLOGIES INCSOLE	NOTE 1.000%12/0	62.95M	PRN	$57.24M 1.47%	62.95M
APPLIED DIGITAL CORPSOLE	NOTE 2.750% 6/0	21.12M	PRN	$57.10M 1.47%	21.12M
PAGERDUTY INCSOLE	NOTE 1.500%10/1	57.73M	PRN	$55.17M 1.42%	57.73M
SSR MINING INSOLE	NOTE 2.500% 4/0	41.95M	PRN	$54.81M 1.41%	41.95M
WAYFAIR INCSOLE	NOTE 3.500%11/1	23.15M	PRN	$53.04M 1.37%	23.15M
UPSTART HLDGS INCSOLE	NOTE 1.000%11/1	60.17M	PRN	$52.73M 1.36%	60.17M

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