DG Capital Management, LLC

Hedge Fund • Multi-Strategy

DG Capital Management, LLC is a Multi-Strategy Hedge Fund based in New York, NY led by Dov Nmn Gertzulin, reporting $489.4M in AUM as of Q3 2025 with 60% Financial Services concentration, 100% concentrated in top 10 holdings, and 36% allocation to MCY.

Managing PartnerDov Nmn Gertzulin

Portfolio Value: $153.6M
Positions: 12
Top Holding: MCY at 35.91%
Last Reported: Q3 2025

Address460 Park Avenue, 22nd Floor, New York, NY, 10022, United States

Top Holdings

Largest long holdings in DG Capital Management, LLC's portfolio (99.8% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Mercury General MCY	Insurance - Property & Casualty Financial Services	$55.2M	35.91%	+$3.6M Bought	1.17% 650.7K shares	Q1 2025 Held for 8 months
2 Burford Capital BUR	Asset Management Financial Services	$26.0M	16.95%	+$2.5M Bought	1.00% 2.2M shares	Q4 2022 Held for 2y 11m
3 Caesars Entertainment, Inc. CZR	Gambling, Resorts & Casinos Consumer Cyclical	$18.1M	11.78%	-$1.1M Sold	— 669.6K shares	Q2 2020 Held for 5y 5m
4 Anterix ATEX	Telecommunications Services Communication Services	$16.0M	10.41%	-$2.4M Sold	3.97% 744.5K shares	Q4 2024 Held for 11 months
5 Magnera MAGN	Unknown Unknown	$13.7M	8.89%	+$3.4M Bought	3.27% 1.2M shares	Q4 2024 Held for 11 months
6 American Coastal Insurance Corporation ACIC	Insurance - Property & Casualty Financial Services	$11.2M	7.28%	+$930.2K Bought	2.01% 982.2K shares	Q2 2025 Held for 5 months
7 Golar LNG GLNG	Oil & Gas Midstream Energy	$4.8M	3.11%	+$4.8M New	0.12% 118.1K shares	Q3 2025 Held for 2 months
8 Genesis Energy GEL	Oil & Gas Midstream Energy	$3.6M	2.37%	+$17.6K Bought	0.18% 218.3K shares	Q2 2024 Held for 1y 5m
9 Capricor Therapeutics CAPR	Biotechnology Healthcare	$3.4M	2.21%	+$3.4M New	1.03% 470.3K shares	Q3 2025 Held for 2 months
10 Xponential Fitness XPOF	Leisure Consumer Cyclical	$1.4M	0.94%	+$1.4M New	0.53% 184.5K shares	Q3 2025 Held for 2 months

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in DG Capital Management, LLC's latest filing

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GthenC

Market Value

$153.6M

Prior: $211.9M

Q/Q Change

-27.52%

-$58.3M

Net Flows % of MV

-38.99%

Turnover Ratio

32.58%

New Purchases

3 stocks

$9.6M

Added To

5 stocks

+$10.4M

Sold Out Of

7 stocks

$76.3M

Reduced Holdings

2 stocks

-$3.6M

Increased Positions

Position	Shares Δ	Change
1 Golar LNG GLNG	New	0 → 118.1K +$4.8M
2 Capricor Therapeutics CAPR	New	0 → 470.3K +$3.4M
3 Xponential Fitness XPOF	New	0 → 184.5K +$1.4M
4 Magnera MAGN	+32.53%	878.8K → 1.2M +$3.4M
5 Burford Capital BUR	+10.65%	2.0M → 2.2M +$2.5M

Decreased Positions

Position	Shares Δ	Change
1 Tenet Healthcare THC	Sold	134.6K → 0 −$23.7M
2 The Cooper Companies, Inc. COO	Sold	285.0K → 0 −$20.3M
3 Community Health Systems CYH	Sold	3.5M → 0 −$11.7M
4 Talen Energy Corporation TLN	Sold	32.1K → 0 −$9.3M
5 Inspired Entertainment INSE	Sold	972.4K → 0 −$7.9M