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BSP

Benefit Street Partners Portfolio holdings

AUM $69.6M
This Fund
S&P 500
This Quarter Est. Return
+7.77%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$910M
AUM Growth
-$530M
Cap. Flow
-$732M
Cap. Flow %
-80.43%
Top 10 Hldgs %
88.75%
Holding
40
New
11
Increased
7
Reduced
5
Closed
4

Top Buys

Rank Stock Value
1
AVYA
Avaya Holdings Corp. Common Stock
AVYA
+$69.9M
2
ESI icon
Element Solutions
ESI
+$7.4M
3
FTR
Frontier Communications Corp.
FTR
+$5.6M
4
RIG icon
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
THC icon
Tenet Healthcare
THC
+$9.13M
3
CZR
Caesars Entertainment Corporation
CZR
+$2.47M
4
HCR
Hi-Crush Inc. Common Stock
HCR
+$1.6M
5
VST icon
Vistra
VST
+$1.36M

Sector Composition

Rank Sector Weight
1 Technology 8.05%
2 Energy 3.19%
3 Communication Services 2.05%
4 Healthcare 1.88%
5 Materials 1.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$305M 33.48%
1,158,200
-3,291,800
-74% -$898M
SPY icon
2
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$218M 23.91%
+827,200
New +$226M
AVYA
3
DELISTED
Avaya Holdings Corp. Common Stock
AVYA
$73.3M 8.05%
+3,271,265
New +$69.9M
CCRN
4
DELISTED
Cross Country Healthcare
CCRN
$17.2M 1.88%
1,544,440
– –
WPX
5
DELISTED
WPX Energy, Inc.
WPX
$12.2M 1.34%
825,000
+175,000
+27% +$2.52M
CPE
6
DELISTED
Callon Petroleum Company
CPE
$10.7M 1.17%
80,534
+10,000
+14% +$1.17M
SD icon
7
SandRidge Energy
SD
$501M
$9.64M 1.06%
664,473
+108,261
+19% +$1.83M
NIHD
8
DELISTED
NII Holdings, Inc. Common Stock
NIHD
$7.95M 0.87%
3,767,002
-497,941
-12% -$516K
ESI icon
9
Element Solutions
ESI
$8.47B
$6.67M 0.73%
+692,506
New +$7.4M
EGLE
10
DELISTED
Eagle Bulk Shipping Inc.
EGLE
$6.19M 0.68%
178,571
+71,428
+67% +$2.49M
WPXP
11
DELISTED
WPX Energy, Inc.
WPXP
$6.17M 0.68%
99,000
+27,000
+38% +$1.68M
FTR
12
DELISTED
Frontier Communications Corp.
FTR
$5.34M 0.59%
+719,551
New +$5.6M
JCP
13
CALL
DELISTED
J.C. Penney Company, Inc.
JCP
$5.13M 0.56%
+562,100
New +$2.03M
GSM icon
14
FerroAtlántica
GSM
$589M
$4.96M 0.54%
462,000
+200,000
+76% +$3.05M
RIG icon
15
Transocean
RIG
$5.49B
$4.95M 0.54%
+500,000
New +$5.15M
SLCA
16
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
$3.83M 0.42%
150,000
+75,000
+100% +$2.3M
OPTU
17
Optimum Communications Inc
OPTU
$294M
$2.77M 0.3%
150,000
– –
FTRPR
18
DELISTED
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
$2.76M 0.3%
+250,000
New +$3.1M
VATE icon
19
INNOVATE Corp
VATE
$106M
$2.53M 0.28%
48,165
-18,025
-27% -$1.01M
CCO icon
20
Clear Channel Outdoor Holdings
CCO
$1.22B
$2.32M 0.25%
472,743
– –
VICI icon
21
VICI Properties
VICI
$29.8B
$1.9M 0.21%
+103,549
New +$2.03M
SN
22
DELISTED
Sanchez Energy Corporation
SN
$1.83M 0.2%
583,672
– –
PTEN icon
23
Patterson-UTI
PTEN
$3.59B
$1.37M 0.15%
78,055
– –
HRG
24
DELISTED
HRG Group, Inc.
HRG
$1.36M 0.15%
82,489
-1,146,793
-93% -$19.1M
RYZ
25
Ryerson Holding Corp
RYZ
$1.5B
$978K 0.11%
+120,000
New +$1.24M
1
2

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CCM
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FCI
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HB
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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 $732M 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 Technology at 8% of assets, followed by Energy and Communication Services.

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.