9AT: SILVERBACK ASSET MANAGEMENT, LLC

other names

SILVERBACK ASSET MANAGEMENT, LLC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 10/02/2006
ADV Location	DURHAM, NC, United States
Contact Info	919 xxxxxxx
Websites

AUM^*	1,192,470,794 25%
of that, discretionary	1,192,470,794 25%
Number of Employees	12 -14%
of those in investment advisory functions	5 -17%
Private Fund GAV^*	413,719,638 30%
Avg Account Size	149,058,849 25%
SMA’s	Yes
Private Funds	6

Adviser Type

- Large advisory firm

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

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count6	GAV$413,719,638

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 Fund939.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV939.8m	AUM1.4b	#Funds14
Adviser SPRING LAKE ASSET MANAGEMENT, INC.	Hedge Fund1.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.4b	AUM1.5b	#Funds3
Adviser NUCLEO CAPITAL LTDA.	Hedge Fund15.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV15.8m	AUM279.5m	#Funds1
Adviser ONE FIN CAPITAL MANAGEMENT LP	Hedge Fund830.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV830.6m	AUM830.6m	#Funds3
Adviser KEYFRAME CAPITAL PARTNERS, L.P.	Hedge Fund700.6m	Liquidity Fund-	Private Equity Fund236.7m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV937.3m	AUM977.3m	#Funds19
Adviser JB INVESTMENTS MANAGEMENT, LLC	Hedge Fund773.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV773.4m	AUM773.4m	#Funds3
Adviser HERCULES ADVISER LLC	Hedge Fund1.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.6b	AUM1.6b	#Funds10
Adviser SANDIA INVESTMENT MANAGMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM625.4m	#Funds-
Adviser CENTERBOOK PARTNERS LP	Hedge Fund1.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.6b	AUM2.9b	#Funds6
Adviser WESCAP GROUP	Hedge Fund39.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV39.0m	AUM1.1b	#Funds1

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78462F103	Stock NameSTATE STR SPDR S&P 500 ETF T (PUT)	$ Position$65,036,000	% Position9.00%	$ Change	# Change
Stck Ticker78462F103	Stock NameSTATE STR SPDR S&P 500 ETF T (PUT)	$ Position$32,518,000	% Position5.00%	$ Change	# Change
Stck Ticker45569UAC5	Stock NameINDIE SEMICONDUCTOR INC	$ Position$34,923,421	% Position5.00%	$ Change	# Change
Stck Ticker464287655	Stock NameISHARES TR (PUT)	$ Position$38,429,150	% Position5.00%	$ Change	# Change
Stck Ticker928298AR9	Stock NameVISHAY INTERTECHNOLOGY INC	$ Position$27,752,858	% Position4.00%	$ Change3.00%	# Change-3.00%
Stck Ticker464287655	Stock NameISHARES TR (CALL)	$ Position$24,793,000	% Position4.00%	$ Change	# Change
Stck Ticker10806XAD4	Stock NameBRIDGEBIO PHARMA INC	$ Position$24,758,945	% Position4.00%	$ Change-18.00%	# Change-18.00%
Stck Ticker682189AS4	Stock NameON SEMICONDUCTOR CORP	$ Position$29,094,218	% Position4.00%	$ Change4.00%	# Change-4.00%
Stck Ticker816850AF8	Stock NameSEMTECH CORP	$ Position$26,653,892	% Position4.00%	$ Change70.00%	# Change64.00%
Stck Ticker90353TAM2	Stock NameUBER TECHNOLOGIES INC	$ Position$27,750,742	% Position4.00%	$ Change12.00%	# Change21.00%

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

Adviser Profile

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