DLD Asset Management, LP
DLD Asset Management, LP is a New York-based investment advisory and asset management firm founded in 2013 by Mark Friedman. The firm operates as a multi-PM relative value investment platform, allocating capital to liquid relative value strategies across equity, credit, and derivative markets. Employing approximately 16 professionals, DLD manages assets for institutional investors and specializes in niche, bottom-up expertise across multiple asset classes.
Investment Strategy
DLD Asset Management focuses on liquid relative value strategies managed by specialized investment teams. Their approach is centered on identifying dislocations between related securities across equity, credit, and derivatives markets. They dynamically combine risk- and operationally-vetted strategies to generate asymmetric, alpha-driven return streams, emphasizing event-driven, equity-trading, volatility arbitrage, and convertible securities strategies.
Top Holdings
Equity Positions (93)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PRGS | PROGRESS SOFTWARE CORP | 2.91% | $51.5M | 43,000,000 | $63.84 | $63.84 | +$51.5M |
V VRNS | VARONIS SYS INC | 2.58% | $45.6M | 27,500,000 | $50.75 | $50.75 | +$45.6M |
G GES | GUESS INC | 2.15% | $38.1M | 40,000,000 | $12.09 | $12.09 | +$38.1M |
S STWD | STARWOOD PPTY TR INC | 2.09% | $37.1M | 34,500,000 | $20.07 | $20.07 | +$37.1M |
S SPR | SPIRIT AEROSYSTEMS HLDGS INC | 2.08% | $36.8M | 25,000,000 | $38.15 | $38.15 | +$36.8M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
L LEU | CENTRUS ENERGY CORP | Bought | Put | $50.6M | 2,773 | $183.18 | $111.20 | +1,123 | +$40.3M |
S SPY | SPDR S&P 500 ETF TR | Sold | Put | $46.8M | 758 | $617.85 | $559.39 | -6,242 | -$344.6M |
C CBRL | CRACKER BARREL OLD CTRY STOR | Bought | Put | $31.0M | 5,075 | $61.08 | $46.61 | +1,775 | +$18.2M |
M MARA | MARA HOLDINGS INC | Bought | Put | $25.1M | 16,025 | $15.68 | $13.11 | +5,525 | +$13.0M |
R RIVN | RIVIAN AUTOMOTIVE INC | Sold | Put | $18.0M | 13,105 | $13.74 | $12.47 | -13,396 | -$15.0M |