13F-HR 1 akcm1q05.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: March 31, 2005 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 May 16, 2005 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: 53 Form13F Information Table Value Total: $1,120,455 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- AGILENT TECHNOLOGIES INC DBCV 3.000%12/0 00846UAB7 20738 21000000 PRN DEFINED O1 21000000 0 0 AMAZON COM INC NOTE 4.750% 2/0 023135AF3 14775 15000000 PRN DEFINED O1 15000000 0 0 AMERICAN EQTY INVT LIFE HLD COM 025676206 969 75800 SH DEFINED O1 75800 0 0 ATMEL CORP SDCV 5/2 049513AE4 3700 8000000 PRN DEFINED O1 8000000 0 0 BROCADE COMMUNICATIONS SYS I NOTE 2.000% 1/0 111621AB4 5239 5500000 PRN DEFINED O1 5500000 0 0 CALPINE CORP NOTE 4.750%11/1 131347BJ4 23633 34500000 PRN DEFINED O1 34500000 0 0 CARNIVAL CORP DBCV 1.132% 4/2 143658AV4 42053 54000000 PRN DEFINED O1 54000000 0 0 CIENA CORP NOTE 3.750% 2/0 171779AA9 8575 10000000 PRN DEFINED O1 10000000 0 0 CITADEL BROADCASTING CORP NOTE 1.875% 2/1 17285TAB2 16484 20000000 PRN DEFINED O1 20000000 0 0 COMCAST HOLDINGS CORP ZONES CV2% PCS 200300507 54822 1325000 PRN DEFINED O1 1325000 0 0 COMERICA INC COM 200340107 1168 21200 SH DEFINED O1 21200 0 0 COMMUNITY HEALTH SYS INC NEW NOTE 4.250%10/1 203668AA6 32897 30000000 PRN DEFINED O1 30000000 0 0 DEVON ENERGY CORP NEW DBCV 6/2 25179MAD5 41069 70000000 PRN DEFINED O1 70000000 0 0 DIRECTV GROUP INC COM 25459L106 10094 700000 SH DEFINED O1 700000 0 0 DISNEY WALT CO COM DISNEY 254687106 2873 100000 SH DEFINED O1 100000 0 0 ECHOSTAR COMMUNICATIONS NEW NOTE 5.750% 5/1 278762AG4 67660 68000000 PRN DEFINED O1 68000000 0 0 ELAN PLC ADR 284131208 5 200000 SH CALL DEFINED O1 200000 0 0 ENZON PHARMACEUTICALS INC NOTE 4.500% 7/0 293904AB4 9100 10000000 PRN DEFINED O1 10000000 0 0 GATEWAY INC COM 367626108 806 200000 SH DEFINED O1 200000 0 0 GENERAL MLS INC DBCV 10/2 370334AU8 81616115000000 PRN DEFINED O1 115000000 0 0 GENERAL MTRS CORP COM 370442105 940 700000 SH PUT DEFINED O1 700000 0 0 GENERAL MTRS CORP DEB SR CONV B 370442733 133943 7125000 PRN DEFINED O1 7125000 0 0 GENERAL MTRS CORP DEB SR CV C 33 370442717 19620 930000 PRN DEFINED O1 930000 0 0 GETTY IMAGES INC SDCV 0.500% 6/0 374276AH6 65285 42000000 PRN DEFINED O1 42000000 0 0 GRAFTECH INTL LTD DBCV 1.625% 1/1 384313AB8 9246 12500000 PRN DEFINED O1 12500000 0 0 GUIDANT CORP COM 401698105 18475 250000 SH DEFINED O1 250000 0 0 HUNTINGTON BANCSHARES INC COM 446150104 1260 52700 SH DEFINED O1 52700 0 0 JDS UNIPHASE CORP NOTE 11/1 46612JAB7 7925 10000000 PRN DEFINED O1 10000000 0 0 LIFEPOINT HOSPITALS INC NOTE 4.500% 6/0 53219LAE9 23034 22500000 PRN DEFINED O1 22500000 0 0 LUCENT TECHNOLOGIES INC DBCV 2.750% 6/1 549463AG2 47655 45000000 PRN DEFINED O1 45000000 0 0 MERCK & CO INC COM 589331107 428 150000 SH CALL DEFINED O1 150000 0 0 NAVISTAR FINL CORP NOTE 4.750% 4/0 638902AM8 15117 15000000 PRN DEFINED O1 15000000 0 0 NEW YORK CMNTY BANCORP INC COM 649445103 1 100000 SH CALL DEFINED O1 100000 0 0 NEXTEL COMMUNICATIONS INC CL A 65332V103 56840 2000000 SH DEFINED O1 2000000 0 0 PNC FINL SVCS GROUP INC COM 693475105 1174 22800 SH DEFINED O1 22800 0 0 PROVINCE HEALTHCARE CO NOTE 4.500%11/2 743977AC4 16624 16500000 PRN DEFINED O1 16500000 0 0 QUANTA SVCS INC SDCV 4.500%10/0 74762EAC6 15903 15500000 PRN DEFINED O1 15500000 0 0 RADIO ONE INC CL D NON VTG 75040P405 7006 474950 SH DEFINED O1 474950 0 0 REGENERON PHARMACEUTICALS NOTE 5.500%10/1 75886FAB3 16281 18000000 PRN DEFINED O1 18000000 0 0 SIRIUS SATELLITE RADIO INC NOTE 2.500% 2/1 82966UAC7 12246 8500000 PRN DEFINED O1 8500000 0 0 SLM CORP DBCV 7/2 78442PAC0 105140102500000 PRN DEFINED O1 102500000 0 0 SLM CORP COM 78442P106 13 250000 SH PUT DEFINED O1 250000 0 0 SPRINT CORP COM FON 852061100 13 508400 SH PUT DEFINED O1 508400 0 0 SUNTERRA CORP COM NEW 86787D208 2069 137200 SH DEFINED O1 137200 0 0 SUNTRUST BKS INC COM 867914103 1290 17900 SH DEFINED O1 17900 0 0 SYCAMORE NETWORKS INC COM 871206108 3560 1000000 SH DEFINED O1 1000000 0 0 TERADYNE INC SDCV 3.750%10/1 880770AD4 39850 40000000 PRN DEFINED O1 40000000 0 0 TIME WARNER INC COM 887317105 3510 200000 SH DEFINED O1 200000 0 0 TV AZTECA S A DE C V SPONSORED ADR 901145102 855 98900 SH DEFINED O1 98900 0 0 VERTEX PHARMACEUTICALS INC NOTE 5.000% 9/1 92532FAD2 16560 18000000 PRN DEFINED O1 18000000 0 0 WASHINGTON MUT INC COM 939322103 150 1000000 SH PUT DEFINED O1 1000000 0 0 WEATHERFORD INTL INC DBCV 6/3 947074AB6 40156 62500000 PRN DEFINED O1 62500000 0 0 WELLS FARGO & CO NEW COM 949746101 10 200000 SH PUT DEFINED O1 200000 0 0