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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
+14.42%
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
$376M
AUM Growth
-$426M
Cap. Flow
-$447M
Cap. Flow %
-118.84%
Top 10 Hldgs %
85.99%
Holding
39
New
9
Increased
4
Reduced
5
Closed
21

Top Buys

Rank Stock Value
1
CMBT
CMB.TECH NV
CMBT
+$31.3M
2
HOLI
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
+$25.8M
3
HES
Hess
HES
+$22.9M
4
ROVR
Rover Group, Inc. Class A Common Stock
ROVR
+$16.7M
5
SPLK
Splunk Inc
SPLK
+$15.2M

Top Sells

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$101M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$81M
3
ATVI
Activision Blizzard
ATVI
+$80.6M
4
VMW
VMware, Inc
VMW
+$69.4M
5
ABCM
Abcam PLC
ABCM
+$51.6M

Sector Composition

Rank Sector Weight
1 Energy 16.9%
2 Technology 13.83%
3 Consumer Staples 13.35%
4 Consumer Discretionary 12.95%
5 Industrials 9.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KR icon
1
PUT
Kroger
KR
$36.7B
$53.1M 14.11%
1,161,400
+831,500
+252% +$36.9M
ACI icon
2
Albertsons Companies
ACI
$5.91B
$50.2M 13.35%
2,182,925
-1,489,353
-41% -$32.9M
SPLK
3
DELISTED
Splunk Inc
SPLK
$44.7M 11.89%
293,518
+101,990
+53% +$15.2M
CMBT
4
CMB.TECH NV
CMBT
$4.52B
$31.1M 8.27%
+1,768,341
New +$31.3M
HOLI
5
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$30.2M 8.04%
+1,147,279
New +$25.8M
NGMS
6
DELISTED
NeoGames S.A. Ordinary Shares
NGMS
$27.7M 7.37%
968,459
+79,862
+9% +$2.16M
CPRI icon
7
Capri Holdings
CPRI
$1.82B
$25.4M 6.75%
505,042
-153,228
-23% -$7.64M
HES
8
DELISTED
Hess
HES
$22.5M 5.99%
+156,374
New +$22.9M
ROVR
9
DELISTED
Rover Group, Inc. Class A Common Stock
ROVR
$21.4M 5.69%
+1,968,507
New +$16.7M
X
10
DELISTED
US Steel
X
$17M 4.53%
350,116
+3,116
+0.9% +$113K
MRTX
11
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$13.2M 3.51%
+224,632
New +$12.6M
AMED
12
DELISTED
Amedisys
AMED
$10.9M 2.9%
114,632
-168,218
-59% -$15.7M
PXD
13
DELISTED
Pioneer Natural Resource Co.
PXD
$9.94M 2.64%
+44,184
New +$10.4M
SIMO icon
14
Silicon Motion
SIMO
$7.11B
$7.3M 1.94%
119,181
-25,270
-17% -$1.44M
EGLE
15
DELISTED
Eagle Bulk Shipping Inc.
EGLE
$6.23M 1.66%
+112,432
New +$5.08M
AVTR icon
16
Avantor
AVTR
$9.82B
$2.01M 0.53%
+88,000
New +$1.8M
WRK
17
DELISTED
WestRock Company
WRK
$1.93M 0.51%
46,436
-300,347
-87% -$11.6M
MLTX icon
18
MoonLake Immunotherapeutics
MLTX
$1.56B
$1.21M 0.32%
+20,000
New +$1.03M
RPD icon
19
Rapid7
RPD
$628M
– –
-59,936
Closed -$2.74M
SAVE
20
DELISTED
Spirit Airlines, Inc.
SAVE
– –
-208,720
Closed -$3.44M
CD
21
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
– –
-2,241,601
Closed -$18.6M
SGEN
22
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-381,628
Closed -$81M
SGEN
23
PUT
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-43,600
Closed -$9.25M
ABCM
24
DELISTED
Abcam PLC
ABCM
– –
-2,278,464
Closed -$51.6M
GHL
25
DELISTED
Greenhill & Co., Inc.
GHL
– –
-66,004
Closed -$977K
1
2

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Sand Grove Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Sand Grove Capital Management held 39 positions worth $376M, down 53% from $802M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Sand Grove Capital Management withdrew a net $447M in Q4 2023, closing 21 positions and reducing 5 holdings. Its most notable exit was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $101M position sold in full.

By sector, the portfolio is most concentrated in Energy at 17% of assets, up from 0% a quarter earlier, followed by Technology and Consumer Staples.

Against the trend, Sand Grove Capital Management opened a new position in CMB.TECH NV worth $31.1M.

  • Sand Grove Capital Management's largest Q4 2023 buy was CMB.TECH NV: 1,768,341 shares worth $31.1M.
  • Sand Grove Capital Management added most to Splunk Inc in Q4 2023, an estimated $15.2M increase.
  • Sand Grove Capital Management's biggest Q4 2023 reduction was Albertsons Companies, cutting an estimated $32.9M.
  • Sand Grove Capital Management fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2023, selling an estimated $101M.
  • Sand Grove Capital Management's ten largest holdings make up 86% of its $376M portfolio in Q4 2023.
  • Sand Grove Capital Management opened 9 new positions and closed 21 in Q4 2023.
  • Sand Grove Capital Management's portfolio value fell 53% quarter-over-quarter to $376M.

Based on Sand Grove Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.