Benefit Street Partners Portfolio holdings
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AVYA
Avaya Holdings Corp. Common Stock
AVYA
|
+$69.9M |
| 2 |
Element Solutions
ESI
|
+$7.4M |
| 3 |
FTR
Frontier Communications Corp.
FTR
|
+$5.6M |
| 4 |
Transocean
RIG
|
+$5.15M |
| 5 |
FTRPR
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
|
+$3.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HRG
HRG Group, Inc.
HRG
|
+$19.1M |
| 2 |
Tenet Healthcare
THC
|
+$9.13M |
| 3 |
CZR
Caesars Entertainment Corporation
CZR
|
+$2.47M |
| 4 |
HCR
Hi-Crush Inc. Common Stock
HCR
|
+$1.6M |
| 5 |
Vistra
VST
|
+$1.36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 80.27% |
| 2 | Technology | 8.05% |
| 3 | Energy | 4.53% |
| 4 | Communication Services | 2.05% |
| 5 | Healthcare | 1.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Vistra
VST
$47.8B
| $879K | 0.1% |
42,215
-70,233
| -62% | -$1.36M |
|
|
WFT
27
DELISTED
Weatherford International plc
WFT
| $422K | 0.05% |
184,215
| – | – |
|
|
HMHC
28
DELISTED
Houghton Mifflin Harcourt Company
HMHC
| $285K | 0.03% |
40,997
| – | – |
|
|
JCP
29
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
| $265K | 0.03% |
+87,900
| New | +$317K |
|
|
SXE
30
DELISTED
Southcross Energy Partners, L.P.
SXE
| $212K | 0.02% |
+129,901
| New | +$241K |
|
|
31
Tenet Healthcare
THC
$20.7B
| – | – |
-602,058
| Closed | -$9.13M |
|
|
HCR
32
DELISTED
Hi-Crush Inc. Common Stock
HCR
| – | – |
-150,000
| Closed | -$1.6M |
|
|
CZR
33
DELISTED
Caesars Entertainment Corporation
CZR
| – | – |
-195,382
| Closed | -$2.47M |
|
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Benefit Street Partners's Q1 2018 Portfolio in Review
As of Q1 2018, Benefit Street Partners held 40 positions worth $910M, down 37% from $1.44B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Benefit Street Partners withdrew a net $61.9M in Q1 2018, closing 4 positions and reducing 5 holdings. Its most notable exit was Tenet Healthcare, an estimated $9.13M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, down from 92% a quarter earlier, followed by Technology and Energy.
Against the trend, Benefit Street Partners opened a new position in Avaya Holdings Corp. Common Stock worth $73.3M.
- Benefit Street Partners's largest Q1 2018 buy was Avaya Holdings Corp. Common Stock: 3,271,265 shares worth $73.3M.
- Benefit Street Partners added most to FerroAtlántica in Q1 2018, an estimated $3.05M increase.
- Benefit Street Partners's biggest Q1 2018 reduction was HRG Group, Inc., cutting an estimated $19.1M.
- Benefit Street Partners fully exited Tenet Healthcare in Q1 2018, selling an estimated $9.13M.
- Benefit Street Partners's ten largest holdings make up 89% of its $910M portfolio in Q1 2018.
- Benefit Street Partners opened 11 new positions and closed 4 in Q1 2018.
- Benefit Street Partners's portfolio value fell 37% quarter-over-quarter to $910M.
Based on Benefit Street Partners's 13F filing for Q1 2018, filed 14 May 2018.