STONEHILL CAPITAL MANAGEMENT LLC
Q2 2025 Form 13-F
NEW YORK, NEW YORK
CIK 0001266227
· CRD 155513
· SEC-registered investment adviser
$228.2M Reported Value Total
STONEHILL CAPITAL MANAGEMENT LLC reports 3 total accounts under management (AUM). There are 3 discretionary accounts valued at $3,739,911,819, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered
Discretionary Manager
Private funds (Form ADV)
2 funds
· $4.3B gross asset value
Hedge Fund: $4.3B
Source: Form ADV filed 2026-03-25
Reported value
$228.2M
Quarter over quarter
+15.7%
Holdings
13
Top-10 concentration
98.5%
Key People
Form ADV owners & control persons
John Alexander Motulsky
PRINCIPAL
Samir Arora
PARTNER
Jonathan Scott Sacks
PARTNER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q2 2025 13F record
Q2 2025 13F filing summary
| Period of report | June 30, 2025 |
|---|---|
| Filed | August 14, 2025 |
| Form | 13F-HR |
| Reported value | $228.2M |
| Positions | 13 |
| Change in reported value | -30.4% |
| New positions | 5 |
| Exited positions | 3 |
| Position turnover | 50.0% |
| Top-10 concentration | 98.5% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
15 | $350.1M |
|
Q1 2026 13F
Filed May 15, 2026
|
15 | $197.3M |
|
Q4 2025 13F
Filed Feb 17, 2026
|
21 | $333.8M |
|
Q3 2025 13F
Filed Nov 14, 2025
|
14 | $280.4M |
|
Q2 2025 13F
Filed Aug 14, 2025
|
13 | $228.2M |
|
Q1 2025 13F
Filed May 15, 2025
|
11 | $328.0M |
|
Q4 2024 13F
Filed Feb 14, 2025
|
9 | $236.4M |
|
Q3 2024 13F
Filed Nov 14, 2024
|
11 | $166.9M |
|
Q2 2024 13F
Filed Aug 14, 2024
|
10 | $133.7M |
|
Q1 2024 13F
Filed May 15, 2024
|
6 | $44.6M |
|
Q4 2023 13F
Filed Feb 14, 2024
|
8 | $50.9M |
|
Q3 2023 13F
Filed Nov 14, 2023
|
7 | $63.2M |
|
Q2 2023 13F
Filed Aug 14, 2023
|
8 | $168.6M |
|
Q1 2023 13F
Filed May 15, 2023
|
9 | $192.7M |
|
Q4 2022 13F
Filed Feb 14, 2023
|
10 | $92.7M |
|
Q3 2022 13F
Filed Nov 14, 2022
|
10 | $123.2M |
|
Q2 2022 13F
Filed Aug 15, 2022
|
10 | $150.4M |
|
Q1 2022 13F
Filed May 16, 2022
|
14 | $215.6M |
|
Q4 2021 13F
Filed Feb 14, 2022
|
22 | $455.3M |
|
Q3 2021 13F
Filed Nov 15, 2021
|
15 | $210.4M |
33 earlier quarters on file — choose one from the quarter menu above.
Top 14 holdings · Q2 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | JOYY JOYY INC ADR | $106.3M | 46.57% |
| 2 | LBRDK LIBERTY BROADBAND CORP CL C COMMON | $57.5M | 25.19% |
| 3 | SATS ECHOSTAR CORP CL A COMMON | $20.8M | 9.12% |
| 4 | LBRDA LIBERTY BROADBAND CORP CL A COMMON | $10.2M | 4.48% |
| 5 | HOUS ANYWHERE REAL ESTATE INC COMMON | $7.6M | 3.35% |
| 6 | TDS TELEPHONE AND DATA SYSTEMS COMMON | $6.7M | 2.93% |
| 7 | ECHO 3.875 11/30/30 ECHOSTAR SR UNSEC CONV PIK 3.875 11/30/2030 | $6.4M | 2.82% |
| 8 | MBC MASTERBRAND INC COMMON | $5.2M | 2.27% |
| 9 | PCG P G & E CORP COMMON | $2.8M | 1.23% |
| 10 | DDI DOUBLEDOWN INTERACTIVE CO LTD ADR | $1.2M | 0.54% |
| 11 | AMWD AMERICAN WOODMARK CORP COMMON | $1.1M | 0.47% |
| 12 | NOTE FISCALNOTE HOLDINGS INC COMMON | $898.0K | 0.39% |
| 13 | IRSWS IRSA INVERSIONES SA WTS EXP 03/25/2026 | $807.0K | 0.35% |
| 14 | BUR BURFORD CAPITAL LTD COMMON | $673.0K | 0.29% |
Values as reported on the Q2 2025 Form 13F. Every position is in the holdings table below.