Instuitional Investor - Silverback Asset Management Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Tr - IBOXX HI YD ETFPUTPUT		1,600,000	$129,904,000	12.44%
2.	Ishares Tr - IBOXX HI YD ETFCALLCALL		1,000,000	$81,190,000	7.78%
3.	Seagate Technology Holdings PlcBOND	STX	15,438,000	$44,509,877	4.26%
4.	Ast Spacemobile Inc.BOND	ASTS	20,755,000	$43,575,814	4.17%
5.	Western Digital CorpBOND	WDC	10,695,000	$34,317,153	3.29%