Yakira Capital Management, Inc.

Yakira Capital Management Inc. operates a distinctive $339M, 196-name structure whose most notable structural feature is a high-yield credit core: the iShares Broad USD High Yield Corporate Bond ETF (HYT, 8.9%) occupies the single largest position in the book, signaling that the manager uses a high-yield ETF as one of its primary expression vehicles rather than selecting individual credits — a practical decision given the scale and liquidity requirements of a $339M high-yield allocation. Outside the HYT anchor, the portfolio tilts toward single-stock equity selection with names that span healthcare, industrials, technology, and consumer: HOLX at 4.4% (healthcare equipment, a quality defensive with pricing power), an unnamed higher-conviction cusip-coded position at 6.4%, and a second cusip-coded conviction name at 4.4%, alongside GTLS (3.2%) and EA at 3.0%. The Q1 changes are unusually active for a hybrid book: 23 positions sold and 23 initiated in the same quarter, alongside 9 increased and 17 reduced positions, for a total of 73 changes across 196 holdings — a turnover rate that suggests the manager was substantially rebuilding the portfolio's equity sleeve while maintaining the HYT and similar credit anchor. With whaleScore of 50 and an equity sleeve built from single-stock selection with no passive ETF scaffolding at the equity layer, this fund reads as an active credit-plus-growth allocator — the equity portion generates alpha through name selection while the HYT layer produces income and credit-beta exposure.