Managers / Q4 2021
SPHINX TRADING, LP
CIK 0000857956 · 111 W JACKSON BLVD, #20TH FLOOR, CHICAGO, IL, 60604 · 312-692-5081
Reported Value
$98M
Q4 2021
Positions
152
Filings on Record
2
2019–present window
Filed
Jan 31, 2022
original filing
Summary
Sphinx Trading, LP reported $98M in U.S.-listed holdings across 152 positions for Q4 2021.
The portfolio is heavily concentrated: FINS alone accounts for 21.6% of reported value.
Compared with Q3 2021, the fund opened 49 new positions and exited 42.
Portfolio Metrics
Turnover
+33.6%
vs prior filed quarter
Top-10 Concentration
+62.7%
share of reported value
Largest Position
+21.6%
Angel Oak Finl Strategies In
New / Exited
49 / 42
positions this quarter
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- Other · 38.5% · $38M
- Common Stock · 34.1% · $33M
- Closed-End Fund · 21.7% · $21M
- Unit · 2.6% · $3M
- Ltd Part · 1.4% · $1M
- Other · 1.8% · $2M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CRYPTO 1 ACQUISITION CORP | NEW | +745.0K | 745.0K | +$8M | $8M |
| AFRICAN GOLD ACQUISITION COR | NEW | +320.1K | 320.1K | +$3M | $3M |
| AEAEUALTENERGY ACQUISITION CORP | NEW | +250.0K | 250.0K | +$3M | $3M |
| SEAPORT GLOBAL ACQUISITION I | NEW | +250.0K | 250.0K | +$3M | $3M |
| REDBOX ENTERTAINMENT INC | NEW | +825.6K | 825.6K | +$859,000 | $859,000 |
| ACVAACV AUCTIONS INC | NEW | +30.0K | 30.0K | +$565,000 | $565,000 |
| AFRICAN GOLD ACQUISITION COR | NEW | +1.10M | 1.10M | +$540,000 | $540,000 |
| FLAGSTAR BANCORP INC | NEW | +7.5K | 7.5K | +$360,000 | $360,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2021
136 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | FINSANGEL OAK FINL STRATEGIES INhistory → | COM BEN INT | 21.59% | $21M | 1.24M |
| 2 | CRYPTO 1 ACQUISITION CORP | UNIT 04/30/2028 | 7.68% | $8M | 745.0K |
| 3 | OECORION ENGINEERED CARBONS S Ahistory → | COM | 5.95% | $6M | 317.7K |
| 4 | BWBABCOCK & WILCOX ENTERPRISEShistory → | COM | 5.53% | $5M | 600.7K |
| 5 | EDIFY ACQUISITION CORP | CL A · UNIT 11/25/2025 · *W EXP 11/25/202 | 5.11% | $5M | 742.9K |
| 6 | GPREGREEN PLAINS INChistory → | COM | 3.90% | $4M | 110.0K |
| 7 | AFRICAN GOLD ACQUISITION COR | SHS CL A · *W EXP 03/31/202 | 3.71% | $4M | 1.42M |
| 8 | B RILEY PRIN 250 MERGER CORP | UNIT 04/06/2026 | 3.53% | $3M | 350.0K |
| 9 | GALATA ACQUISITION CORP | SHS CL A · *W EXP 99/99/999 | 3.04% | $3M | 688.7K |
| 10 | ACELACCEL ENTERTAINMENT INChistory → | COM CL A1 | 2.66% | $3M | 200.0K |
| 11 | AEAEUALTENERGY ACQUISITION CORPhistory → | UNIT 10/29/2026 | 2.57% | $3M | 250.0K |
| 12 | SEAPORT GLOBAL ACQUISITION I | UNIT 11/17/2026 | 2.56% | $3M | 250.0K |
| 13 | UISUNISYS CORPhistory → | COM NEW | 2.10% | $2M | 100.0K |
| 14 | QUANTUM FINTECH ACQUISTIN CO | COMMON STOCK · *W EXP 01/30/202 | 1.80% | $2M | 425.5K |
| 15 | CINER RESOURCES LP | COM UNIT LTD | 1.68% | $2M | 100.0K |
| 16 | EVO ACQUISITION CORP | UNIT 99/99/9999 | 1.57% | $2M | 155.2K |
| 17 | MACONDRAY CAP ACQUISITN CORP | UNIT 05/31/2028 | 1.53% | $1M | 150.0K |
| 18 | FORTRESS TRANS INFRST INVS L | COM REP LTD LIAB | 1.39% | $1M | 47.2K |
| 19 | PARABELLUM ACQUISITION CORP | UNIT 99/99/9999 | 1.09% | $1M | 104.9K |
| 20 | MGNIMAGNITE INC | COM | 0.89% | $875,000 | 50.0K |
| 21 | REDBOX ENTERTAINMENT INC | *W EXP 12/15/202 | 0.88% | $859,000 | 825.6K |
| 22 | FBNCFIRST MIDWEST BANCORP DEL | COM | 0.78% | $761,000 | 37.1K |
| 23 | MOUNTAIN CREST ACQSTN CORP I | UNIT 99/99/9999 | 0.70% | $690,000 | 70.0K |
| 24 | GSMFERROGLOBE PLC | SHS | 0.63% | $621,000 | 100.0K |
| 25 | ACVAACV AUCTIONS INC | COM CL A | 0.58% | $565,000 | 30.0K |
| 26 | IHS MARKIT LTD | SHS | 0.54% | $532,000 | 4.0K |
| 27 | RICE ACQUISITION CORP II | UNIT 99/99/9999 | 0.54% | $526,000 | 50.0K |
| 28 | CIT GROUP INC | COM NEW | 0.52% | $513,000 | 10.0K |
| 29 | ATHENE HOLDING LTD | CL A | 0.51% | $500,000 | 6.0K |
| 30 | RILYB. RILEY FINANCIAL INC | COM | 0.45% | $444,000 | 5.0K |
| 31 | ATLANTIC CAP BANCSHARES INC | COM | 0.45% | $437,000 | 15.2K |
| 32 | SMTSFSIERRA METALS INC | COM | 0.43% | $419,000 | 308.2K |
| 33 | KIMBALL INTL INC | CL B | 0.42% | $409,000 | 40.0K |
| 34 | EMLEASTERN CO | COM | 0.38% | $376,000 | 15.0K |
| 35 | FLAGSTAR BANCORP INC | COM PAR .001 | 0.37% | $360,000 | 7.5K |
| 36 | DRTTFDIRTT ENVIRONMENTAL SOLUTION | COM | 0.37% | $360,000 | 165.0K |
| 37 | GWBGREAT WESTERN BANCORP INC | COM | 0.36% | $357,000 | 10.5K |
| 38 | UMPQUA HLDGS CORP | COM | 0.35% | $342,000 | 17.8K |
| 39 | GREENSKY INC | CL A | 0.35% | $341,000 | 30.0K |
| 40 | XNCRXENCOR INC | COM | 0.34% | $336,000 | 8.4K |
| 41 | TRISTATE CAP HLDGS INC | COM | 0.33% | $327,000 | 10.8K |
| 42 | INVESTORS BANCORP INC NEW | COM | 0.31% | $303,000 | 20.0K |
| 43 | SLVISHARES SILVER TR | ISHARES | 0.31% | $301,000 | 14.0K |
| 44 | SPYSPDR S&P 500 ETF TR | TR UNIT | 0.29% | $285,000 | 600 |
| 45 | COHERENT INC | COM | 0.27% | $267,000 | 1.0K |
| 46 | BRYN MAWR BK CORP | COM | 0.27% | $260,000 | 5.8K |
| 47 | ATOTECH LTD | COM | 0.26% | $256,000 | 10.0K |
| 48 | STLSTERLING BANCORP DEL | COM | 0.26% | $253,000 | 9.8K |
| 49 | NEXTNAV INC | *W EXP 10/28/202 | 0.25% | $246,000 | 145.3K |
| 50 | MGPMGM GROWTH PPTYS LLC | CL A COM | 0.23% | $229,000 | 5.6K |
| 51 | BOTTOMLINE TECH DEL INC | COM | 0.23% | $226,000 | 4.0K |
| 52 | PHILLIPS 66 PARTNERS LP | COM UNIT REP INT | 0.22% | $216,000 | 6.0K |
| 53 | MONMOUTH REAL ESTATE INVT CO | CL A | 0.21% | $210,000 | 10.0K |
| 54 | KIRKLAND LAKE GOLD LTD | COM | 0.21% | $210,000 | 5.0K |
| 55 | VONAGE HLDGS CORP | COM | 0.21% | $208,000 | 10.0K |
| 56 | NUANCE COMMUNICATIONS INC | COM | 0.21% | $205,000 | 3.7K |
| 57 | CIRCOR INTL INC | COM | 0.21% | $204,000 | 7.5K |
| 58 | TEEKAY LNG PARTNERS L P | PRTNRSP UNITS | 0.21% | $204,000 | 12.1K |
| 59 | INTERSECT ENT INC | COM | 0.19% | $191,000 | 7.0K |
| 60 | WELBILT INC | COM | 0.19% | $190,000 | 8.0K |
| 61 | DEL TACO RESTAURANTS INC NEW | COM | 0.19% | $187,000 | 15.0K |
| 62 | SPX FLOW INC | COM | 0.19% | $182,000 | 2.1K |
| 63 | VEONEER INC | COM | 0.14% | $142,000 | 4.0K |
| 64 | ARENA PHARMACEUTICALS INC | COM NEW | 0.14% | $139,000 | 1.5K |
| 65 | ROGROGERS CORP | COM | 0.14% | $137,000 | 500 |
| 66 | CYRUSONE INC | COM | 0.14% | $135,000 | 1.5K |
| 67 | QUIDEL CORP | COM | 0.14% | $135,000 | 1.0K |
| 68 | NTICNORTHERN TECHNOLOGIES INTL C | COM | 0.13% | $130,000 | 8.5K |
| 69 | COMPOSECURE INC | *W EXP 12/27/202 | 0.13% | $130,000 | 85.0K |
| 70 | GCP APPLIED TECHNOLOGIES INC | COM | 0.13% | $127,000 | 4.0K |
| 71 | QUANTUM CORP | COM NEW | 0.12% | $119,000 | 21.5K |
| 72 | CHANGE HEALTHCARE INC | COM | 0.11% | $111,000 | 5.2K |
| 73 | XILINX INC | COM | 0.11% | $106,000 | 500 |
| 74 | MCAFEE CORP | COM CL A | 0.11% | $103,000 | 4.0K |
| 75 | STATE AUTO FINL CORP | COM | 0.11% | $103,000 | 2.0K |
| 76 | CASPER SLEEP INC | COM | 0.10% | $100,000 | 15.0K |
| 77 | PAE INC | COM CL A | 0.10% | $99,000 | 10.0K |
| 78 | CERNER CORP | COM | 0.09% | $93,000 | 1.0K |
| 79 | NEOPHOTONICS CORP | COM | 0.09% | $92,000 | 6.0K |
| 80 | TXNMPNM RES INC | COM | 0.09% | $91,000 | 2.0K |
| 81 | HEALTHCARE SERVICES ACQU COR | *W EXP 99/99/999 | 0.09% | $85,000 | 164.1K |
| 82 | MIMECAST LTD | ORD SHS | 0.08% | $80,000 | 1.0K |
| 83 | COREPOINT LODGING INC | COM | 0.08% | $79,000 | 5.0K |
| 84 | ASPEN TECHNOLOGY INC | COM | 0.08% | $76,000 | 500 |
| 85 | AMERICAN NATIONAL GROUP INC | COM NEW | 0.08% | $76,000 | 400 |
| 86 | PFNPIMCO INCOME STRATEGY FD II | COM | 0.08% | $76,000 | 8.0K |
| 87 | FORTERRA INC | COM | 0.07% | $71,000 | 3.0K |
| 88 | SBNYSIGNATURE BK NEW YORK N Y | COM | 0.07% | $65,000 | 200 |
| 89 | FOEFERRO CORP | COM | 0.07% | $65,000 | 3.0K |
| 90 | AEROJET ROCKETDYNE HLDGS INC | COM | 0.05% | $47,000 | 1.0K |
| 91 | BACBK OF AMERICA CORP | COM | 0.04% | $44,000 | 1.0K |
| 92 | TBTPROSHARES TR | PSHS ULTSH 20YRS | 0.04% | $44,000 | 2.6K |
| 93 | CECOCECO ENVIRONMENTAL CORP | COM | 0.04% | $42,000 | 6.8K |
| 94 | ENTGENTEGRIS INC | COM | 0.04% | $42,000 | 300 |
| 95 | ARIAPOLLO COML REAL EST FIN INC | COM | 0.04% | $40,000 | 3.0K |
| 96 | OVVOVINTIV INC | COM | 0.04% | $40,000 | 1.2K |
| 97 | SURMODICS INC | COM | 0.04% | $39,000 | 800 |
| 98 | DSLDOUBLELINE INCOME SOLUTIONS | COM | 0.03% | $32,000 | 2.0K |
| 99 | B RILEY PRINCIPAL 150 MERGER | *W EXP 03/01/202 | 0.03% | $32,000 | 21.8K |
| 100 | QUOTIENT TECHNOLOGY INC | COM | 0.03% | $30,000 | 4.0K |
Filing History
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.