13F-HR 1 akcm1q09.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, 2009 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: Manager Phone: (818) 456-5220 Signature, Place, and Date of Signing: /s/ Michael Kao Woodland Hills, CA April 22, 2009 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: 17 Form13F Information Table Value Total: $46,311 (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 ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- COMPUCREDIT CORP NOTE 5.875%11/3 20478NAD2 6049 31000000 PRN DEFINED 01 31000000 0 0 DECODE GENETICS INC NOTE 3.500% 4/1 243586AB0 694 14000000 PRN DEFINED 01 14000000 0 0 FORD MTR CO DEL NOTE 4.250%12/1 345370CF5 3841 11000000 PRN DEFINED 01 11000000 0 0 GENERAL MTRS CORP DEB SR CONV B 370442733 122 50000 SH DEFINED 01 50000 0 0 GENERAL MTRS CORP DEB SR CV C 33 370442717 479 200000 SH DEFINED 01 200000 0 0 HUNTSMAN CORP COM 447011107 1096 350000 SH DEFINED 01 350000 0 0 INLAND REAL ESTATE CORP NOTE 4.625%11/1 457461AB7 9900 15000000 PRN DEFINED 01 15000000 0 0 ISHARES TR DJ US REAL EST 464287739 79 525000 SH CALL DEFINED 01 0 0 0 LDK SOLAR CO LTD SPONSORED ADR 50183L107 500 78917 SH DEFINED 01 78917 0 0 OSCIENT PHARMACEUTICALS CORP COM NEW 68812R303 215 1790000 SH DEFINED 01 1790000 0 0 PIER 1 IMPORTS INC NOTE 6.375% 2/1 720279AH1 1521 4000000 PRN DEFINED 01 4000000 0 0 PROLOGIS NOTE 2.250% 4/0 743410AQ5 13873 26000000 PRN DEFINED 01 26000000 0 0 SPDR TR UNIT SER 1 78462F103 763 250000 SH PUT DEFINED 01 250000 0 0 SUNTECH PWR HLDGS CO LTD NOTE 3.000% 3/1 86800CAE4 2358 5000000 PRN DEFINED 01 5000000 0 0 UAL CORP NOTE 4.500% 6/3 902549AH7 3347 10000000 PRN DEFINED 01 10000000 0 0 WELLS FARGO & CO NEW COM 949746101 1424 100000 SH DEFINED 01 100000 0 0 WELLS FARGO & CO NEW COM 949746101 50 1000000 SH CALL DEFINED 01 0 0 0