Sand Grove Capital Management LLP's Q3 2024 13F: 7 new positions, 13 exits
Form 13F-HR for the quarter ended Sep 30, 2024 · filed Nov 14, 2024 · 14 reported positions · accession 0001665077-24-000007
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | CEREVEL THERAPEUTICS HLDNG I (CERE) | 11.0% | — | −11.0 pts | −919K sh | −100% |
| Exited | HOLLYSYS AUTOMATION TCHNGY L (HOLI) | 9.0% | — | −9.0 pts | −1.43M sh | −100% |
| New | KELLANOVA (K) | — | 8.2% | +8.2 pts | +251K sh | new |
| Reduced | ALBERTSONS COS INC (ACI) | 12.1% | 8.1% | −4.0 pts | −1.01M sh | −48% |
| New | FRONTIER COMMUNICATIONS PARE (FYBR) | — | 7.4% | +7.4 pts | +520K sh | new |
| New | SMARTSHEET INC (SMAR) | — | 6.4% | +6.4 pts | +286K sh | new |
| New | EVERI HLDGS INC (EVRI) | — | 6.4% | +6.4 pts | +1.2M sh | new |
| New | SPIRIT AEROSYSTEMS HLDGS INC (SPR) | — | 5.7% | +5.7 pts | +434K sh | new |
| New | INFINERA CORP (INFN) | — | 5.0% | +5.0 pts | +1.85M sh | new |
| Exited | SURMODICS INC (SRDX) | 4.4% | — | −4.4 pts | −355K sh | −100% |
| Reduced | HESS CORP (HES) | 13.3% | 12.7% | −0.6 pts | −75,962 sh | −25% |
| Increased | SQUARESPACE INC (SQSP) | 2.9% | 8.3% | +5.4 pts | +214K sh | +94% |
| Reduced | AMEDISYS INC (AMED) | 11.7% | 13.2% | +1.5 pts | −95,010 sh | −22% |
| Exited | AVANGRID INC (AGR) | 3.2% | — | −3.2 pts | −303K sh | −100% |
| Exited | JUNIPER NETWORKS INC (JNPR) | 3.0% | — | −3.0 pts | −283K sh | −100% |
| Exited | PLAYAGS INC (AGS) | 3.0% | — | −3.0 pts | −895K sh | −100% |
| Exited | U S SILICA HLDGS INC (SLCA) | 3.0% | — | −3.0 pts | −655K sh | −100% |
| Exited | NUVEI CORPORATION (NVEI) | 2.9% | — | −2.9 pts | −309K sh | −100% |
| Exited | STERICYCLE INC (SRCL) | 2.9% | — | −2.9 pts | −171K sh | −100% |
| Exited | SILVERBOW RES INC (SBOW) | 2.4% | — | −2.4 pts | −219K sh | −100% |
| Exited | EQUITRANS MIDSTREAM CORP (ETRN) | 2.2% | — | −2.2 pts | −573K sh | −100% |
| Increased | MATTERPORT INC (MTTR) | 1.3% | 3.8% | +2.5 pts | +1.09M sh | +112% |
| Reduced | CATALENT INC (CTLT) | 8.0% | 10.5% | +2.5 pts | −57,346 sh | −12% |
| Exited | ANSYS INC (ANSS) | 1.2% | — | −1.2 pts | −12,583 sh | −100% |
| New | LIBERTY BROADBAND CORP (LBRDK) | — | 1.1% | +1.1 pts | +33,993 sh | new |
| Increased | UNITED STATES STL CORP NEW (X) | 2.3% | 3.4% | +1.0 pts | +26,377 sh | +13% |
| Exited | TRIPLE FLAG PRECIOUS METAL (TFPM) | 0.3% | — | −0.3 pts | −74,022 sh | −100% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 86.8% of the equity book
Changes in the top 10 this quarter: SQSP entered · K entered · FYBR entered · SMAR entered · EVRI entered · SPR entered · CERE left · HOLI left · SRDX left · AGR left · JNPR left · AGS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | AMEDISYS INC (AMED) | 11.7% | 13.2% | |
| 2 | HESS CORP (HES) | 13.3% | 12.7% | |
| 3 | CATALENT INC (CTLT) | 8.0% | 10.5% | |
| 4 | SQUARESPACE INC (SQSP) | 2.9% | 8.3% | Entered the top 10 |
| 5 | KELLANOVA (K) | 0.0% | 8.2% | Entered the top 10 |
| 6 | ALBERTSONS COS INC (ACI) | 12.1% | 8.1% | |
| 7 | FRONTIER COMMUNICATIONS PARE (FYBR) | 0.0% | 7.4% | Entered the top 10 |
| 8 | SMARTSHEET INC (SMAR) | 0.0% | 6.4% | Entered the top 10 |
| 9 | EVERI HLDGS INC (EVRI) | 0.0% | 6.4% | Entered the top 10 |
| 10 | SPIRIT AEROSYSTEMS HLDGS INC (SPR) | 0.0% | 5.7% | Entered the top 10 |
| — | CEREVEL THERAPEUTICS HLDNG I (CERE) | 11.0% | 0.0% | Left the top 10 |
| — | HOLLYSYS AUTOMATION TCHNGY L (HOLI) | 9.0% | 0.0% | Left the top 10 |
| — | SURMODICS INC (SRDX) | 4.4% | 0.0% | Left the top 10 |
| — | AVANGRID INC (AGR) | 3.2% | 0.0% | Left the top 10 |
| — | JUNIPER NETWORKS INC (JNPR) | 3.0% | 0.0% | Left the top 10 |
| — | PLAYAGS INC (AGS) | 3.0% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | UNITED STATES STL CORP NEW (X) | Call | 0 | 223K | $7.87M |