PENGUIN SOLUTIONS INC

CUSIP: 83205YAE4 Class: BOND

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

PALISADE CAPITAL MANAGEMENT, LP

Value ($000) $510 Shares 500,000

Institution	Shares	Value ($000)
PALISADE CAPITAL MANAGEMENT, LP	500,000	$510

Increased Positions (3)

AQR Arbitrage LLC

Value ($000) $17,605 (-13.5%) Shares 17,251,000 (+1.1%)

LINDEN ADVISORS LP

Value ($000) $28,604 (-10.9%) Shares 28,000,000 (+4.1%)

BNP PARIBAS ARBITRAGE, SA

Value ($000) $15,417 (-10.1%) Shares 15,182,000 (+5.1%)

Institution	Prev Shares	Curr Shares	Change
AQR Arbitrage LLC	17,071,000	17,251,000	+180,000 (+1.1%)
LINDEN ADVISORS LP	26,900,000	28,000,000	+1,100,000 (+4.1%)
BNP PARIBAS ARBITRAGE, SA	14,443,000	15,182,000	+739,000 (+5.1%)

Decreased Positions (3)

SILVERBACK ASSET MANAGEMENT LLC

Value ($000) $15,494 (-17.0%) Shares 15,135,000 (-3.2%)

MILLENNIUM MANAGEMENT LLC

Value ($000) $10,137 (-43.4%) Shares 9,900,000 (-34.0%)

JPMORGAN CHASE & CO

Value ($000) $954 (-44.2%) Shares 1,235,000 (-44.2%)

Institution	Prev Shares	Curr Shares	Change
SILVERBACK ASSET MANAGEMENT LLC	15,635,000	15,135,000	-500,000 (-3.2%)
MILLENNIUM MANAGEMENT LLC	15,000,000	9,900,000	-5,100,000 (-34.0%)
JPMORGAN CHASE & CO	2,215,000	1,235,000	-980,000 (-44.2%)

Exited Positions (3)

Sphera Management Technology Funds Ltd

Value ($000) $1,016 Shares 850,000

Walleye Capital LLC

Value ($000) $1,789 Shares 1,500,000

AMERIPRISE FINANCIAL INC

Value ($000) $4,750 Shares 4,000,000

Institution	Prev Shares	Prev Value ($000)
Sphera Management Technology Funds Ltd	850,000	$1,016
Walleye Capital LLC	1,500,000	$1,789
AMERIPRISE FINANCIAL INC	4,000,000	$4,750