9AT: SILVERBACK ASSET MANAGEMENT, LLC

other names

SILVERBACK ASSET MANAGEMENT, LLC

Adviser Profile

As of Date	08/11/2025
ADV Location	CHAPEL HILL, NC, United States
Adviser Type - Large advisory firm
Number of Employees	12 -14%
of those in investment advisory functions	5 -17%
Registration	SEC, Approved, 10/02/2006

AUM^*	1,043,312,563 9%
of that, discretionary	1,043,312,563 9%
Private Fund GAV^*	318,312,211
Avg Account Size	130,414,070 9%
SMA’s	Yes
Private Funds	6
Contact Info	919 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count6	GAV$318,312,211

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser FOURWORLD CAPITAL MANAGEMENT LLC	Hedge Fund818.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV818.4m	AUM1.2b	#Funds14
Adviser RJA ASSET MANAGEMENT LLC	Hedge Fund529.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV529.3m	AUM992.5m	#Funds2
Adviser CENTERBOOK PARTNERS LP	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.3b	AUM2.4b	#Funds6
Adviser CHI-RHO FINANCIAL, LLC	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM1.2b	#Funds7
Adviser KEYFRAME CAPITAL PARTNERS, L.P.	Hedge Fund692.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV692.9m	AUM772.4m	#Funds17
Adviser WESCAP GROUP	Hedge Fund35.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV35.0m	AUM985.0m	#Funds1
Adviser RAMSEY QUANTITATIVE SYSTEMS, INC.	Hedge Fund524.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV524.9m	AUM784.3m	#Funds2
Adviser NUCLEO CAPITAL LTDA.	Hedge Fund13.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV13.5m	AUM333.5m	#Funds1
Adviser SPRING LAKE ASSET MANAGEMENT, INC.	Hedge Fund1.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.1b	AUM1.1b	#Funds3
Adviser NEWBROOK CAPITAL ADVISORS LP	Hedge Fund944.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV944.8m	AUM944.8m	#Funds11

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker464288513	Stock NameISHARES TR (PUT)	$ Position$81,190,000	% Position8.00%	$ Change68.00%	# Change67.00%
Stck Ticker464288513	Stock NameISHARES TR (CALL)	$ Position$81,190,000	% Position8.00%	$ Change	# Change
Stck Ticker464288513	Stock NameISHARES TR (PUT)	$ Position$48,714,000	% Position5.00%	$ Change1.00%	# Change0.00%
Stck Ticker00217DAA8	Stock NameAst Spacemobile Inc	$ Position$43,575,814	% Position4.00%	$ Change173.00%	# Change159.00%
Stck Ticker81180WBL4	Stock NameSEAGATE HDD CAYMAN	$ Position$44,509,877	% Position4.00%	$ Change18.00%	# Change-26.00%
Stck Ticker902252AB1	Stock NameTYLER TEX INDPT SCH DIST	$ Position$32,042,609	% Position3.00%	$ Change4.00%	# Change17.00%
Stck Ticker733245AD6	Stock NamePORCH GROUP INC	$ Position$29,198,522	% Position3.00%	$ Change51.00%	# Change26.00%
Stck Ticker19260QAB3	Stock NameCOINBASE GLOBAL INC	$ Position$26,411,046	% Position3.00%	$ Change10.00%	# Change14.00%
Stck Ticker345370CZ1	Stock NameFORD MTR CO	$ Position$27,134,197	% Position3.00%	$ Change323.00%	# Change312.00%
Stck Ticker477839AB0	Stock NameJBT MAREL CORPORATION	$ Position$27,608,413	% Position3.00%	$ Change40.00%	# Change38.00%

Brochure Summary

Overview

The Adviser is an investment adviser with its principal place of business in Chapel Hill, North Carolina. The Adviser is a Delaware Limited Liability Company organized under the laws of the State of Delaware in April 2002. The Adviser commenced operations as an investment adviser on June 1, 2002 and has been registered with the SEC since October 2006. Elliot Bossen is the founder and principal of Silverback Asset Management, LLC. The Adviser manages investment advisory accounts for clients on a discretionary basis. The Adviser currently serves as investment manager to a number of private funds (together, the “Funds”), and as adviser or sub-adviser to separately managed accounts (the “Accounts”, and together with the Funds, the “Clients”). The Adviser may also accept other clients, including additional private funds, at any time. Currently, the Adviser is the Investment Manager to Silverback Opportunistic Credit Master Fund Limited and Silverback Convertible Master Fund Limited (formerly Silverback Opportunity Master Fund Limited), along with their respective feeders, the Silverback Opportunistic Fund Limited, Silverback Opportunistic Fund LLC, Silverback Convertible Fund Limited (formerly Silverback Opportunity Fund Limited), and Silverback Convertible Fund LLC (formerly Silverback Opportunity

Fund, LLC). The Silverback Opportunistic Credit Master Fund primarily employs a strategy that focuses on convertible, credit and equity markets to capture returns from investments in credit, equity, volatility, event-driven, special situation and structural opportunities. The Convertible Master Fund Limited employs a convertible arbitrage strategy. The feeder funds each invest substantially all of their assets in the respective master fund. The Adviser also acts as adviser or sub- adviser to the Accounts, which employ a related opportunistic credit, convertible arbitrage and/or special situations strategy. The Adviser provides advice to client accounts based on specific investment objectives and strategies. Under certain circumstances, the Adviser may agree to tailor advisory services for the needs of separately managed account clients. Such separately managed account clients may impose restrictions on investing in certain securities or certain types of securities. As of March 1, 2024, Silverback had approximately $721.9 million1 client assets under management, all of which were managed on a discretionary basis. 1 Note that this asset value is client net assets under management, and not regulatory assets under management as defined in the instructions for Item 5.F of ADV Part 1A.

SILVERBACK ASSET MANAGEMENT, LLC

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