TENOR CAPITAL MANAGEMENT Co., L.P.

CIK 0001346554 · Q1 2026

13F Equity AUM

$6.5B

-8.5% QoQ

Positions

477

+70 QoQ

AUM Rank

#860

Top 7%

Skill Alpha (FF)

—

Building track record (1q)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 14.8%Top 10: 23.2%Top 20: 36.9%

LITE 0.5 12/15/266.0%

TDOC 1.25 06/01/272.8%

U 0 11/15/262.0%

MIRM 4 05/01/292.0%

CNMD 2.25 06/15/271.9%

SHAK 0 03/01/281.8%

VTR 3.75 06/01/261.8%

AKAM 0.375 09/01/271.7%

BMRN 1.25 05/15/271.7%

JBTM 0.25 05/15/261.5%

Others (467)76.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Fixed Income27.0%

Healthcare19.4%

Technology17.6%

Unclassified15.6%

Financial Services11.7%

Consumer Cyclical3.3%

Other5.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 477Median: 0.06%Avg: 0.21%

0–0.5%

425(36.5%)

0.5–1%

24(18.0%)

1–3%

27(39.5%)

3–5%

0(0.0%)

5%+

1(6.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 159Unique: 318vs 20 funds

2.1%Low

477

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

2.7%

1.9%

1.9%

2.2%

0.8%

BANK OF AMERICA CORP /DE/

0.9%

GEODE CAPITAL MANAGEMENT, LLC

0.1%

VANGUARD CAPITAL MANAGEMENT LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

Loading overlap analysis...

Position Changes This Quarter

New143Increased46Decreased21Exited80

New Positions

VTR 3.75 06/01/261.8%

+75.0M

AKAM 1.125 02/15/291.4%

+82.5M

LCI INDS0.8%

+43.9M

MKSI 1.25 06/01/300.8%

+30.9M

WT 3.25 06/15/260.7%

+35.0M

UNITY SOFTWARE INC0.7%

+45.0M

SOFI 1.25 03/15/290.5%

+17.0M

FLR 1.125 08/15/290.4%

+20.4M

HASI 3.75 08/15/280.4%

+17.0M

GIGCAPITAL9 CORP0.3%

+2.2M

Increased

COLL 2.875 02/15/291.2%

+59.8M(+665%)

NTNX 0.5 12/15/291.1%

+43.0M(+134%)

LYV 3.125 01/15/291.4%

+39.0M(+195%)

DXCM 0.375 05/15/280.7%

+35.0M(+233%)

POST 2.5 08/15/270.8%

+33.4M(+222%)

GBX 2.875 04/15/281.1%

+22.4M(+55%)

LNTH 2.625 12/15/270.8%

+20.0M(+87%)

TVTX 2.25 03/01/290.6%

+18.2M(+133%)

GWRE 1.25 11/01/290.4%

+18.1M(+181%)

DOCN 0 12/01/261.0%

+16.5M(+33%)

Decreased

AKAM 0.375 09/01/271.7%

-77,014,000(-45%)

SMCI 3.5 03/01/290.1%

-49,000,000(-82%)

NET 0 08/15/260.9%

-47,500,000(-48%)

PAR 1.5 10/15/270.1%

-44,160,000(-93%)

BBIO 2.5 03/15/270.4%

-24,500,000(-62%)

WK 1.25 08/15/280.1%

-18,500,000(-71%)

FIVN 1 03/15/290.3%

-17,000,000(-43%)

VERX 0.75 05/01/290.3%

-15,759,000(-44%)

MCHP 0.75 06/01/300.7%

-12,500,000(-21%)

TMDX 1.5 06/01/281.0%

-12,000,000(-20%)

Exited

-80,000,000

-203,500,000

-151,995,000

-150,000,000

-119,217,000

-115,893,000

-105,606,000

-92,081,000

-79,000,000

-60,500,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...