____Mohican Financial Management, LLC_______

Mohican Financial Management as of Dec. 31, 2014

Portfolio Holdings for Mohican Financial Management

Mohican Financial Management holds 42 positions in its portfolio as reported in the December 2014 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Amag Pharmaceuticals Inc note 2.500% 2/1 6.7 $14M 8.0M 1.69
Horsehead Hldg Corp note 3.800% 7/0 4.6 $9.4M 7.8M 1.21
Quantum Corp note 4.500% 11/1 4.4 $8.9M 7.1M 1.25
Healthways Inc note 1.500% 7/0 4.3 $8.8M 7.5M 1.17
Mentor Graphics 4% 2031 conv 4.2 $8.5M 7.1M 1.20
Cornerstone Ondemand Inc conv 3.9 $7.8M 8.0M 0.98
Altra Holdings, Inc note 2.750% 3/0 3.7 $7.6M 6.5M 1.17
Renewable Energy Group Inc mtnf 2.750% 6/1 3.7 $7.6M 8.1M 0.94
Web Com Group Inc note 1.000% 8/1 3.6 $7.3M 8.0M 0.91
Trak 1 1/2 03/15/17 3.5 $7.2M 5.5M 1.30
Take-two Interactive Sof note 3.3 $6.8M 4.5M 1.51
Forestar Group Inc note 3.3 $6.7M 7.0M 0.95
Infinera Corporation dbcv 1.750% 6/0 3.3 $6.7M 5.0M 1.33
Accuray Inc Del note 3.750% 8/0 3.0 $6.1M 5.9M 1.04
Webmd Health Corp note 2.7 $5.5M 5.5M 1.00
Depomed Inc conv 2.7 $5.4M 5.0M 1.08
Interdigital Inc 2.5% conv 2.5 $5.2M 4.7M 1.11
M/i Homes Inc note 3.250% 9/1 2.5 $5.1M 4.3M 1.19
Fxcm Inc. conv 2.5 $5.1M 4.9M 1.04
Endologix Inc note 2.250%12/1 2.4 $4.9M 5.0M 0.98
Ttm Technologies Inc conv 2.4 $4.8M 5.0M 0.96
Vipshop Holdings Ltd - Ads bond 2.3 $4.8M 4.0M 1.19
Photronics Inc note 2.3 $4.7M 4.6M 1.03
Alaska Communications Systems conv 2.1 $4.2M 4.5M 0.94
Acorda Therap note 1.75% 6/15 2.0 $4.0M 3.5M 1.15
Wabash National Corp 3.375 '18 conv 2.0 $4.0M 3.2M 1.25
Meadowbrook Ins Group Inc dbcv 5.000% 3/1 1.9 $4.0M 3.5M 1.13
Tesaro Inc note 3.000%10/0 1.8 $3.8M 3.0M 1.25
Array Biopharma Inc note 3.000% 6/0 1.6 $3.3M 3.5M 0.93
J2 Global Inc note 3.250% 6/1 1.5 $3.0M 2.8M 1.10
Ascent Cap Group Inc note 4.000% 7/1 1.3 $2.7M 3.3M 0.82
Envestnet Inc note 1.750%12/1 1.3 $2.6M 2.5M 1.03
Helix Energy Solutions note 1.1 $2.2M 2.0M 1.11
Aar Corp 2.25% conv 1.0 $2.1M 2.0M 1.04
Volcano Corporation note 1.750%12/0 1.0 $2.0M 2.0M 0.99
Protalix Biotherapeutics Inc note 4.500% 9/1 1.0 $2.0M 2.6M 0.76
Gt Advanced Technologies Inc note 3.000%12/1 0.7 $1.4M 2.8M 0.50
Encore Cap Group Inc note 3.000% 7/0 0.7 $1.3M 1.2M 1.13
Quidel Corp note 3.250%12/1 0.6 $1.1M 1.0M 1.11
Energy Xxi Bermuda Ltd note 3.000%12/1 0.4 $870k 3.0M 0.29
Lkd Barclays Bk Plc Ipath S&p Etn etf 0.2 $332k 25k 13.12
Solazyme Inc bond 0.1 $230k 500k 0.46