CSS LLC/IL

Filed: 2/17/2026ACC: 0001103646-26-000003

📋 What this filing means

CSS LLC/IL filed this quarterly 13F‑HR report disclosing 870 equity positions with a total reported market value of $2.25B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

870

Positions

$2.25B

Total AUM (reported)

787.92M

Total Shares

Allocation by class

COM$376.71M16.7%

NOTE 3.875%11/3$126.55M5.6%

NOTE 0.500% 6/1$114.97M5.1%

TR UNIT$79.00M3.5%

NOTE 2.000% 6/1$75.40M3.4%

CL A$74.30M3.3%

NOTE 4/0$61.52M2.7%

Portfolio Concentration

Top 3$320.52M14.2%

4–10$379.61M16.9%

11–25$363.70M16.2%

Rest$1.19B52.7%

Top 3 weight

14.2%

Top 10 weight

31.1%

Voting Authority Distribution

Total shares with voting rights: 787.92M

Sole

Full voting authority

787.92M

% 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)

Sole870

Shared0

Other0

Dominant voting typeSole · 100.0% of voting shares

Institutional Holdings870

Rows:

ECHOSTAR CORP

SOLE

NOTE 3.875%11/3

Shares37.83M

TypePRN

Market value$126.55M

5.62%

Sole

37.83M

Shared

0.00

None

0.00

LUMENTUM HLDGS INC

SOLE

NOTE 0.500% 6/1

Shares40.46M

TypePRN

Market value$114.97M

5.11%

Sole

40.46M

Shared

0.00

None

0.00

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares115.85K

TypeSH

Market value$79.00M

3.51%

Sole

115.85K

Shared

0.00

None

0.00

JAZZ INVESTMENTS I LTD

SOLE

NOTE 2.000% 6/1

Shares65.07M

TypePRN

Market value$75.40M

3.35%

Sole

65.07M

Shared

0.00

None

0.00

IONIS PHARMACEUTICALS INC

SOLE

NOTE 4/0

Shares44.79M

TypePRN

Market value$61.52M

2.73%

Sole

44.79M

Shared

0.00

None

0.00

WESTERN DIGITAL CORP

SOLE

PUT

Shares330K

TypeSH

Market value$56.85M

2.53%

Sole

330K

Shared

0.00

None

0.00

PEABODY ENGR CORP

SOLE

NOTE 3.250% 3/0

Shares30.27M

TypePRN

Market value$50.88M

2.26%

Sole

30.27M

Shared

0.00

None

0.00

LIVE NATION ENTERTAINMENT IN

SOLE

NOTE 3.125% 1/1

Shares32.76M

TypePRN

Market value$47.64M

2.12%

Sole

32.76M

Shared

0.00

None

0.00

EQUINOX GOLD CORP

SOLE

NOTE 4.750%10/1

Shares18.94M

TypePRN

Market value$44.41M

1.97%

Sole

18.94M

Shared

0.00

None

0.00

STRATEGY INC

SOLE

CL A NEW

Shares282.40K

TypeSH

Market value$42.91M

1.91%

Sole

282.40K

Shared

0.00

None

0.00

LUMENTUM HLDGS INC

SOLE

NOTE 1.500%12/1

Shares7.50M

TypePRN

Market value$39.90M

1.77%

Sole

7.50M

Shared

0.00

None

0.00

TRANSOCEAN INC

SOLE

DEB 4.625% 9/3

Shares27.33M

TypePRN

Market value$37.62M

1.67%

Sole

27.33M

Shared

0.00

None

0.00

BRIDGEBIO PHARMA INC

SOLE

NOTE 2.250% 2/0

Shares26.50M

TypePRN

Market value$29.83M

1.33%

Sole

26.50M

Shared

0.00

None

0.00

BANK AMERICA CORP

SOLE

7.25%CNV PFD L

Shares23.66K

TypeSH

Market value$29.53M

1.31%

Sole

23.66K

Shared

0.00

None

0.00

GAMESTOP CORP NEW

SOLE

CL A

Shares1.47M

TypeSH

Market value$29.50M

1.31%

Sole

1.47M

Shared

0.00

None

0.00

SPDR GOLD TR

SOLE

GOLD SHS

Shares74.23K

TypeSH

Market value$29.42M

1.31%

Sole

74.23K

Shared

0.00

None

0.00

SOFI TECHNOLOGIES INC

SOLE

COM

Shares907.46K

TypeSH

Market value$23.76M

1.06%

Sole

907.46K

Shared

0.00

None

0.00

INVESCO EXCHANGE TRADED FD T

SOLE

S&P500 EQL WGT

Shares109.84K

TypeSH

Market value$21.04M

0.94%

Sole

109.84K

Shared

0.00

None

0.00

GUARDANT HEALTH INC

SOLE

DEBT 1.250% 2/1

Shares11M

TypePRN

Market value$20.13M

0.89%

Sole

11M

Shared

0.00

None

0.00

VANGUARD INDEX FDS

SOLE

S&P 500 ETF SHS

Shares31.65K

TypeSH

Market value$19.85M

0.88%

Sole

31.65K

Shared

0.00

None

0.00

AMERICAN AIRLS GROUP INC

SOLE

COM

Shares1.21M

TypeSH

Market value$18.58M

0.83%

Sole

1.21M

Shared

0.00

None

0.00

CORE SCIENTIFIC INC NEW

SOLE

*W EXP 01/23/202

Shares2.03M

TypeSH

Market value$17.19M

0.76%

Sole

2.03M

Shared

0.00

None

0.00

ISHARES GOLD TR

SOLE

ISHARES NEW

Shares197.26K

TypeSH

Market value$16.01M

0.71%

Sole

197.26K

Shared

0.00

None

0.00

MANNKIND CORP

SOLE

NOTE 2.500% 3/0

Shares13.98M

TypePRN

Market value$15.91M

0.71%

Sole

13.98M

Shared

0.00

None

0.00

SNOWFLAKE INC

SOLE

NOTE 10/0

Shares10.39M

TypePRN

Market value$15.45M

0.69%

Sole

10.39M

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole
ECHOSTAR CORPSOLE	NOTE 3.875%11/3	37.83M	PRN	$126.55M 5.62%	37.83M
LUMENTUM HLDGS INCSOLE	NOTE 0.500% 6/1	40.46M	PRN	$114.97M 5.11%	40.46M
SPDR S&P 500 ETF TRSOLE	TR UNIT	115.85K	SH	$79.00M 3.51%	115.85K
JAZZ INVESTMENTS I LTDSOLE	NOTE 2.000% 6/1	65.07M	PRN	$75.40M 3.35%	65.07M
IONIS PHARMACEUTICALS INCSOLE	NOTE 4/0	44.79M	PRN	$61.52M 2.73%	44.79M
WESTERN DIGITAL CORPSOLE	PUT	330K	SH	$56.85M 2.53%	330K
PEABODY ENGR CORPSOLE	NOTE 3.250% 3/0	30.27M	PRN	$50.88M 2.26%	30.27M
LIVE NATION ENTERTAINMENT INSOLE	NOTE 3.125% 1/1	32.76M	PRN	$47.64M 2.12%	32.76M
EQUINOX GOLD CORPSOLE	NOTE 4.750%10/1	18.94M	PRN	$44.41M 1.97%	18.94M
STRATEGY INCSOLE	CL A NEW	282.40K	SH	$42.91M 1.91%	282.40K
LUMENTUM HLDGS INCSOLE	NOTE 1.500%12/1	7.50M	PRN	$39.90M 1.77%	7.50M
TRANSOCEAN INCSOLE	DEB 4.625% 9/3	27.33M	PRN	$37.62M 1.67%	27.33M
BRIDGEBIO PHARMA INCSOLE	NOTE 2.250% 2/0	26.50M	PRN	$29.83M 1.33%	26.50M
BANK AMERICA CORPSOLE	7.25%CNV PFD L	23.66K	SH	$29.53M 1.31%	23.66K
GAMESTOP CORP NEWSOLE	CL A	1.47M	SH	$29.50M 1.31%	1.47M
SPDR GOLD TRSOLE	GOLD SHS	74.23K	SH	$29.42M 1.31%	74.23K
SOFI TECHNOLOGIES INCSOLE	COM	907.46K	SH	$23.76M 1.06%	907.46K
INVESCO EXCHANGE TRADED FD TSOLE	S&P500 EQL WGT	109.84K	SH	$21.04M 0.94%	109.84K
GUARDANT HEALTH INCSOLE	DEBT 1.250% 2/1	11M	PRN	$20.13M 0.89%	11M
VANGUARD INDEX FDSSOLE	S&P 500 ETF SHS	31.65K	SH	$19.85M 0.88%	31.65K
AMERICAN AIRLS GROUP INCSOLE	COM	1.21M	SH	$18.58M 0.83%	1.21M
CORE SCIENTIFIC INC NEWSOLE	*W EXP 01/23/202	2.03M	SH	$17.19M 0.76%	2.03M
ISHARES GOLD TRSOLE	ISHARES NEW	197.26K	SH	$16.01M 0.71%	197.26K
MANNKIND CORPSOLE	NOTE 2.500% 3/0	13.98M	PRN	$15.91M 0.71%	13.98M
SNOWFLAKE INCSOLE	NOTE 10/0	10.39M	PRN	$15.45M 0.69%	10.39M

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