Skaana Management L.P.
Skaana Management L.P. is a New York-based hedge fund manager offering discretionary investment advisory services primarily to private investment funds, notably Skaana Partners L.P. Founded in November 2020, the firm is led by Daniel C. Katzner, a veteran investor with 30+ years of investment experience and a strong record in convertible arbitrage. Skaana Management operates with a compact team and focuses on maximizing risk-adjusted returns for its institutional clients.
Investment Strategy
Skaana Management pursues a disciplined and capital-restrained convertible investment strategy aimed at maximizing risk-adjusted returns. The firm primarily invests in convertible securities and utilizes arbitrage techniques, drawing on deep expertise in the convertible debt sector. Their approach combines rigorous research, strategic capital allocation, and sophisticated risk management to capture alpha while containing downside risk. The manager’s longstanding focus on convertible arbitrage underpins a commitment to systematic portfolio construction and tactical trading within the U.S. and global markets.
Top Holdings
Equity Positions (19)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C CORZW | CORE SCIENTIFIC INC NEW | 8.60% | $28.4M | 2,618,305 | $6.38 | $10.84 | +$23.6M |
E EPR-PC | EPR PPTYS | 6.53% | $21.6M | 861,366 | $23.20 | $25.05 | +$2.0M |
A APO-PA | APOLLO GLOBAL MGMT INC | 4.07% | $13.4M | 179,336 | $80.27 | $74.85 | -$2.0M |
C CMPOW | COMPOSECURE INC | 3.13% | $10.3M | 1,655,805 | $4.84 | $6.25 | +$6.4M |
B BBAI | BIGBEAR AI HLDGS INC | 1.25% | $4.1M | 607,754 | $2.86 | $6.79 | +$2.3M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
A ASTS | AST SPACEMOBILE INC | Bought | Call | $17.0M | 3,639 | $46.73 | $11.63 | +369 | +$9.6M |
A ASTS | AST SPACEMOBILE INC | Sold | Put | $8.7M | 1,870 | $46.73 | $14.15 | -472 | +$3.4M |
B BBAI | BIGBEAR AI HLDGS INC | Bought | Put | $8.1M | 11,894 | $6.79 | $3.50 | +843 | +$4.9M |
B BULL | WEBULL CORP | New | Put | $6.1M | 5,081 | $11.96 | $11.96 | +5,081 | +$6.1M |
A APO | APOLLO GLOBAL MGMT INC | Bought | Put | $5.7M | 404 | $141.87 | $138.90 | +161 | +$2.4M |