Benefit Street Partners LLC Quant / Systematic

CIK: 0001543160 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Jan 22, 2026

Total Value ($000): $90,744 (57.0% shares, 43.0% debt)

Holdings (17)

New Positions (16)

— RIOT PLATFORMS INC 25.4%

Value ($000) $23,094 Shares 20,500,000 Est. Cost $1.13 Unrealized —

— PG&E CORP 16.0%

Value ($000) $14,483 Shares 353,255 Est. Cost $41.00 Unrealized —

SATS ECHOSTAR CORP 14.5%

Value ($000) $13,171 Shares 121,166 Est. Cost $81.43 Unrealized 0.0%

EAF GRAFTECH INTL LTD 12.2%

Value ($000) $11,060 Shares 713,062 Est. Cost $15.21 Unrealized 0.0%

— ANYWHERE REAL ESTATE INC 10.1%

Value ($000) $9,129 Shares 644,730 Est. Cost $14.16 Unrealized —

— ECHOSTAR CORP 5.0%

Value ($000) $4,554 Shares 1,360,000 Est. Cost $3.35 Unrealized —

— JETBLUE AIRWAYS CORP 4.5%

Value ($000) $4,105 Shares 4,250,000 Est. Cost $0.97 Unrealized —

— FLUENCE ENERGY INC 2.2%

Value ($000) $1,981 Shares 2,000,000 Est. Cost $0.99 Unrealized —

— BLACKSTONE MORTGAGE TRUST IN 1.8%

Value ($000) $1,674 Shares 1,700,000 Est. Cost $0.98 Unrealized —

— COINBASE GLOBAL INC 1.7%

Value ($000) $1,531 Shares 1,500,000 Est. Cost $1.02 Unrealized —

— SHIFT4 PMTS INC 1.1%

Value ($000) $962 Shares 1,000,000 Est. Cost $0.96 Unrealized —

— STRATEGY INC 0.7%

Value ($000) $629 Shares 540,000 Est. Cost $1.16 Unrealized —

— NORTHERN OIL & GAS INC 0.5%

Value ($000) $477 Shares 500,000 Est. Cost $0.95 Unrealized —

SKIL SKILLSOFT CORP 0.5%

Value ($000) $429 Shares 46,115 Est. Cost $11.15 Unrealized 0.0%

MERC MERCER INTL INC 0.1%

Value ($000) $126 Shares 63,685 Est. Cost $2.11 Unrealized 0.0%

GOCO GOHEALTH INC 0.0%

Value ($000) $29 Shares 13,592 Est. Cost $3.42 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	RIOT PLATFORMS INC	20,500,000	$23,094	25.4%	$1.13	—	NOTE 0.750% 1/1	767292AB1
—	PG&E CORP	353,255	$14,483	16.0%	$41.00	—	PFD CONV SER A	69331C306
SATS	ECHOSTAR CORP	121,166	$13,171	14.5%	$81.43	0.0%	CL A	278768106
EAF	GRAFTECH INTL LTD	713,062	$11,060	12.2%	$15.21	0.0%	COM NEW	384313607
—	ANYWHERE REAL ESTATE INC	644,730	$9,129	10.1%	$14.16	—	COM	75605Y106
—	ECHOSTAR CORP	1,360,000	$4,554	5.0%	$3.35	—	NOTE 3.875%11/3	278768AB2
—	JETBLUE AIRWAYS CORP	4,250,000	$4,105	4.5%	$0.97	—	NOTE 2.500% 9/0	477143AR2
—	FLUENCE ENERGY INC	2,000,000	$1,981	2.2%	$0.99	—	NOTE 2.250% 6/1	34379VAB9
—	BLACKSTONE MORTGAGE TRUST IN	1,700,000	$1,674	1.8%	$0.98	—	NOTE 5.500% 3/1	09257WAE0
—	COINBASE GLOBAL INC	1,500,000	$1,531	1.7%	$1.02	—	NOTE 0.250% 4/0	19260QAF4
—	SHIFT4 PMTS INC	1,000,000	$962	1.1%	$0.96	—	NOTE 0.500% 8/0	82452JAD1
—	STRATEGY INC	540,000	$629	0.7%	$1.16	—	NOTE 0.625% 9/1	594972AQ4
—	NORTHERN OIL & GAS INC	500,000	$477	0.5%	$0.95	—	NOTE 3.625% 4/1	665531AJ8
SKIL	SKILLSOFT CORP	46,115	$429	0.5%	$11.15	0.0%	CL A	83066P309
MERC	MERCER INTL INC	63,685	$126	0.1%	$2.11	0.0%	COM	588056101
GOCO	GOHEALTH INC	13,592	$29	0.0%	$3.42	0.0%	CL A NEW	38046W204

Exited Positions (7)

— FRONTIER COMMUNICATIONS PARE 9.5%

Value ($000) $8,666 Shares 553,709 Est. Cost $23.54 Unrealized —

— DISH NETWORK CORPORATION 3.9%

Value ($000) $3,544 Shares 3,700,000 Est. Cost $0.87 Unrealized —

— BERRY CORP 2.1%

Value ($000) $1,907 Shares 232,578 Est. Cost $15.41 Unrealized —

IHRT IHEARTMEDIA INC 1.5%

Value ($000) $1,361 Shares 430,746 Est. Cost $14.60 Unrealized -74.4%

— SKILLSOFT CORP 0.9%

Value ($000) $819 Shares 923,836 Est. Cost $3.52 Unrealized —

ACR ACRES COMMERCIAL REALTY CORP 0.7%

Value ($000) $632 Shares 76,156 Est. Cost $16.06 Unrealized —

— CASA SYS INC 0.2%

Value ($000) $206 Shares 243,019 Est. Cost $5.40 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	FRONTIER COMMUNICATIONS PARE	553,709	$8,666	9.5%	$23.54	—	—	35909D109
—	DISH NETWORK CORPORATION	3,700,000	$3,544	3.9%	$0.87	—	—	25470MAD1
—	BERRY CORP	232,578	$1,907	2.1%	$15.41	—	—	08579X101
IHRT	IHEARTMEDIA INC	430,746	$1,361	1.5%	$14.60	-74.4%	—	45174J509
—	SKILLSOFT CORP	923,836	$819	0.9%	$3.52	—	—	83066P200
ACR	ACRES COMMERCIAL REALTY CORP	76,156	$632	0.7%	$16.06	—	—	00489Q102
—	CASA SYS INC	243,019	$206	0.2%	$5.40	—	—	14713L102

Decreased Positions (1)

CCO CLEAR CHANNEL OUTDOOR HLDGS 3.6%

Value ($000) $3,310 (+23.4%) Shares 1,497,926 (-11.8%) Est. Cost $4.48 Unrealized -58.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CCO	CLEAR CHANNEL OUTDOOR HLDGS	1,497,926 (-11.8%)	$3,310 (+23.4%)	3.6%	$4.48	-58.6%	COM	18453H106