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SGCM

Sand Grove Capital Management Portfolio holdings

AUM $444M
1-Year Est. Return 131.11%
This Fund
S&P 500
This Quarter Est. Return
+3.75%
1 Year Est. Return
+131.11%
3 Year Est. Return
+410.73%
5 Year Est. Return
+1,022.21%
10 Year Est. Return
+24,985.77%
AUM
$512M
AUM Growth
-$447M
Cap. Flow
-$461M
Cap. Flow %
-89.97%
Top 10 Hldgs %
100%
Holding
17
New
6
Increased
1
Reduced
1
Closed
7

Top Buys

Rank Stock Value
1
ORBK
Orbotech Ltd
ORBK
+$94.1M
2
RHT
Red Hat Inc
RHT
+$34.5M
3
HIFR
InfraREIT, Inc.
HIFR
+$32.1M
4
NTRI
NutriSystem, Inc.
NTRI
+$21.6M
5
SHPG
Shire pic
SHPG
+$10.1M

Top Sells

Rank Stock Value
1
ESRX
Express Scripts Holding Company
ESRX
+$127M
2
COL
Rockwell Collins
COL
+$127M
3
AET
Aetna Inc
AET
+$126M
4
WEB
Web.com Group, Inc.
WEB
+$122M
5
SODA
SodaStream International Ltd
SODA
+$75.4M

Sector Composition

Rank Sector Weight
1 Communication Services 51.31%
2 Technology 18.48%
3 Financials 17.1%
4 Consumer Discretionary 4.91%
5 Healthcare 1.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TFCFA
1
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$225M 43.86%
4,695,411
-41,064
-0.9% -$1.95M
ORBK
2
DELISTED
Orbotech Ltd
ORBK
$94.6M 18.48%
+1,683,545
New +$94.1M
DNB
3
DELISTED
Dun & Bradstreet
DNB
$87.5M 17.1%
614,862
+9,965
+2% +$1.42M
RHT
4
DELISTED
Red Hat Inc
RHT
$38.1M 7.45%
+218,000
New +$34.5M
HIFR
5
DELISTED
InfraREIT, Inc.
HIFR
$31.6M 6.18%
+1,505,372
New +$32.1M
NTRI
6
DELISTED
NutriSystem, Inc.
NTRI
$25.2M 4.91%
+573,000
New +$21.6M
SHPG
7
DELISTED
Shire pic
SHPG
$10M 1.95%
+57,592
New +$10.1M
HWM icon
8
CALL
Howmet Aerospace
HWM
$115B
$162K 0.03%
+17,604
New +$275K
MTFBW
9
DELISTED
Motif Bio plc Warrants to Purchase ADRs
MTFBW
$141K 0.03%
97,200
– –
NXPI icon
10
CALL
NXP Semiconductors
NXPI
$67.3B
$25K ﹤0.01%
6,281
– –
IDTI
11
DELISTED
Integrated Device Technology I
IDTI
– –
-546,263
Closed -$25.6M
ESRX
12
DELISTED
Express Scripts Holding Company
ESRX
– –
-1,337,556
Closed -$127M
SODA
13
DELISTED
SodaStream International Ltd
SODA
– –
-526,882
Closed -$75.4M
AET
14
DELISTED
Aetna Inc
AET
– –
-620,691
Closed -$126M
COL
15
DELISTED
Rockwell Collins
COL
– –
-900,541
Closed -$127M
KTWO
16
DELISTED
K2M Group Holdings, Inc
KTWO
– –
-1,854,475
Closed -$50.6M
WEB
17
DELISTED
Web.com Group, Inc.
WEB
– –
-4,351,463
Closed -$122M

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Sand Grove Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Sand Grove Capital Management held 17 positions worth $512M, down 47% from $959M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Sand Grove Capital Management withdrew a net $461M in Q4 2018, closing 7 positions and reducing 1 holding. Its most notable exit was Express Scripts Holding Company, an estimated $127M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 51% of assets, up from 23% a quarter earlier, followed by Technology and Financials.

Against the trend, Sand Grove Capital Management opened a new position in Orbotech Ltd worth $94.6M.

  • Sand Grove Capital Management's largest Q4 2018 buy was Orbotech Ltd: 1,683,545 shares worth $94.6M.
  • Sand Grove Capital Management added most to Dun & Bradstreet in Q4 2018, an estimated $1.42M increase.
  • Sand Grove Capital Management's biggest Q4 2018 reduction was Twenty-First Century Fox, Inc. Class A, cutting an estimated $1.95M.
  • Sand Grove Capital Management fully exited Express Scripts Holding Company in Q4 2018, selling an estimated $127M.
  • Sand Grove Capital Management's ten largest holdings make up 100% of its $512M portfolio in Q4 2018.
  • Sand Grove Capital Management opened 6 new positions and closed 7 in Q4 2018.
  • Sand Grove Capital Management's portfolio value fell 47% quarter-over-quarter to $512M.

Based on Sand Grove Capital Management's 13F filing for Q4 2018, filed 13 Feb 2019.