13F-HR 1 akcm3q04.txt AKANTHOS CAPITAL MANAGEMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2004 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Akanthos Capital Management, LLC Address: 21700 Oxnard Street, Suite 1520 Woodland Hills, CA 91367-7584 13F File Number: 28-10430 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Michael Kao Title: Managing Member Phone: (818)456-5220 Signature, Place, and Date of Signing: /s/ Michael Kao Woodland Hills, CA November 15, 2004 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form13F Information Table Entry Total: 41 Form13F Information Table Value Total: $1,049,973 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 01 28-10433 Akanthos Arbitrage Master Fund, L.P. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AMAZON COM INC NOTE 4.750% 2/0 023135AF3 9913 10000000 PRN DEFINED 01 10000000 0 0 AMERICA ONLINE INC DEL NOTE 12/0 02364JAC8 28688 45000000 PRN DEFINED 01 45000000 0 0 ATMEL CORP SDCV 5/2 049513AE4 6750 15000000 PRN DEFINED 01 15000000 0 0 BROCADE COMMUNICATIONS SYS I NOTE 2.000% 1/0 111621AB4 7022 7500000 PRN DEFINED 01 7500000 0 0 CALPINE CORP COM 131347106 3772 1300600 SH DEFINED 01 1300600 0 0 CARNIVAL CORP DBCV 1.132% 4/2 143658AV4 38875 50000000 PRN DEFINED 01 50000000 0 0 CHARTER COMMUNICATIONS INC D CL A 16117M107 532 200000 SH DEFINED 01 200000 0 0 CIENA CORP NOTE 3.750% 2/0 171779AA9 16875 20000000 PRN DEFINED 01 20000000 0 0 COMCAST HOLDINGS CORP ZONES CV2% PCS 200300507 59850 1425000 PRN DEFINED 01 1425000 0 0 CONTINENTAL AIRLS INC NOTE 5.000% 6/1 210795PJ3 4251 6000000 PRN DEFINED 01 6000000 0 0 DELTA AIR LINES INC DEL COM 247361108 10 50000 SH CALL DEFINED 01 500 0 0 ECHOSTAR COMMUNICATIONS NEW NOTE 5.750% 5/1 278762AG4 101750100000000 PRN DEFINED 01 100000000 0 0 GENERAL MLS INC DBCV 10/2 370334AU8 45546 65000000 PRN DEFINED 01 65000000 0 0 GENERAL MTRS CORP DEB SR CONV B 370442733 126158 5250000 PRN DEFINED 01 5250000 0 0 GETTY IMAGES INC SDCV 0.500% 6/0 374276AG8 43331 35500000 PRN DEFINED 01 35500000 0 0 GRAFTECH INTL LTD DBCV 1.625% 1/1 384313AB8 11878 11000000 PRN DEFINED 01 11000000 0 0 HUMAN GENOME SCIENCES INC NOTE 5.000% 2/0 444903AF5 3483 3500000 PRN DEFINED 01 3500000 0 0 ISHARES TR RUSSELL 2000 464287655 940 200000 SH PUT DEFINED 01 2000 0 0 ISHARES TR RUSSELL 2000 464287655 10 200000 SH CALL DEFINED 01 2000 0 0 KERR MCGEE CORP SDCV 5.250% 2/1 492386AP2 77706 72500000 PRN DEFINED 01 72500000 0 0 LIBERTY MEDIA CORP DEB 4.000%11/1 530715AG6 65213 92500000 PRN DEFINED 01 92500000 0 0 LUCENT TECHNOLOGIES INC DBCV 2.750% 6/1 549463AG2 55856 45000000 PRN DEFINED 01 45000000 0 0 LUCENT TECHNOLOGIES INC SDCV 8.000% 8/0 549463AK3 29734 27500000 PRN DEFINED 01 27500000 0 0 MCI INC COM 552691107 838 50000 SH DEFINED 01 50000 0 0 MERRILL LYNCH & CO INC FRNT 3/1 590188A73 64850 65000000 PRN DEFINED 01 65000000 0 0 OMNICOM GROUP INC NOTE 6/1 681919AP1 7282 7500000 PRN DEFINED 01 7500000 0 0 OMNICOM GROUP INC NOTE 7/3 681919AM8 9839 10000000 PRN DEFINED 01 10000000 0 0 OMNICOM GROUP INC NOTE 2/0 681919AK2 29889 30000000 PRN DEFINED 01 30000000 0 0 PENNEY J C INC NOTE 5.000%10/1 708160BV7 18578 15000000 PRN DEFINED 01 15000000 0 0 QUANTA SVCS INC NOTE 4.000% 7/0 74762EAA0 2828 3000000 PRN DEFINED 01 3000000 0 0 RADIO ONE INC CL D NON VTG 75040P405 6187 434778 SH DEFINED 01 434778 0 0 SPRINT CORP COM FON 852061100 5 200000 SH PUT DEFINED 01 2000 0 0 SUNTERRA CORP COM NEW 86787D208 2383 250000 SH DEFINED 01 250000 0 0 SYCAMORE NETWORKS INC COM 871206108 2268 600000 SH DEFINED 01 600000 0 0 VERTEX PHARMACEUTICALS INC NOTE 5.000% 9/1 92532FAD2 15881 16500000 PRN DEFINED 01 16500000 0 0 WASHINGTON MUT INC COM 939322103 13 500000 SH PUT DEFINED 01 5000 0 0 WEATHERFORD INTL INC DBCV 6/3 947074AB6 6405 10000000 PRN DEFINED 01 10000000 0 0 WEBMD CORP NOTE 1.750% 6/1 94769MAE5 16496 20000000 PRN DEFINED 01 20000000 0 0 WELLS FARGO & CO NEW COM 949746101 13 250000 SH PUT DEFINED 01 2500 0 0 WELLS FARGO & CO NEW DBCV 5/0 949746FA4 99081100000000 PRN DEFINED 01 100000000 0 0 XL CAP LTD DBCV 5/2 98372PAB4 28994 45000000 PRN DEFINED 01 45000000 0 0