Managers / Q1 2026
STONEHILL CAPITAL MANAGEMENT LLC
CIK 0001266227 · 320 PARK AVE., 26TH FLOOR, NEW YORK, NY, 10022 · 212 739 7474
Summary
Stonehill Capital Management LLC reported $197M in U.S.-listed holdings across 15 positions for Q1 2026.
The portfolio is heavily concentrated: ECHO alone accounts for 49.3% of reported value.
Compared with Q4 2025, the fund opened 3 new positions and exited 10.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 94.7% · $187M
- ADR · 2.6% · $5M
- REIT · 2.2% · $4M
- Other · 0.5% · $981,000
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| HOLOGIC INC COMMON | NEW | +153.3K | 153.3K | +$12M | $12M |
| MOMOHELLO GROUP INC SPN ADR | NEW | +624.2K | 624.2K | +$4M | $4M |
| SVCSERVICE PROPERTIES TRUST REIT | NEW | +125.0K | 125.0K | +$169,000 | $169,000 |
| CDZICADIZ INC COMMON | ADDED | +1.61M | 1.95M | +$8M | $10M |
| TDAYUSA TODAY CO INC COMMON | ADDED | +1.49M | 2.98M | +$13M | $21M |
| JOYYJOYY INC ADR | SOLD OUT | −1.10M | 0 | −$71M | $0 |
| ECHOSTAR SR UNSEC CONV PIK 3.875 11/30/2030 | SOLD OUT | −6.47M | 0 | −$22M | $0 |
| LBRDKLIBERTY BROADBAND CORP CL C COMMON | SOLD OUT | −433.5K | 0 | −$21M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ECHOECHOSTAR CORP CL A COMMONhistory → | CMN | 49.34% | $97M | 831.5K |
| 2 | TDAYUSA TODAY CO INC COMMONhistory → | CMN | 10.66% | $21M | 2.98M |
| 3 | MANMANPOWERGROUP INC COMMONhistory → | CMN | 8.05% | $16M | 539.2K |
| 4 | MBCMASTERBRAND INC COMMONhistory → | CMN | 6.14% | $12M | 1.46M |
| 5 | HOLOGIC INC COMMON | CMN | 5.87% | $12M | 153.3K |
| 6 | RHIROBERT HALF INC COMMONhistory → | CMN | 5.22% | $10M | 405.8K |
| 7 | CDZICADIZ INC COMMONhistory → | CMN | 4.84% | $10M | 1.95M |
| 8 | AHQAMERICAN WOODMARK CORP COMMONhistory → | CMN | 4.26% | $8M | 211.0K |
| 9 | ELMEELME COMMUNITIES REIThistory → | CMN | 2.08% | $4M | 2.04M |
| 10 | MOMOHELLO GROUP INC SPN ADRhistory → | CMN | 1.82% | $4M | 624.2K |
| 11 | DDIDOUBLEDOWN INTERACTIVE CO LTD ADR | CMN | 0.82% | $2M | 190.6K |
| 12 | IRSA INVERSIONES SA WTS EXP 03/25/2026 | CMN | 0.50% | $981,000 | 602.1K |
| 13 | NFENEW FORTRESS ENERGY INC COMMON | CMN | 0.24% | $465,000 | 788.8K |
| 14 | SVCSERVICE PROPERTIES TRUST REIT | CMN | 0.09% | $169,000 | 125.0K |
| 15 | SEATVIVID SEATS INC CL A COMMON | CMN | 0.08% | $158,000 | 26.7K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $197M | 15 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $334M | 22 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $280M | 15 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $228M | 14 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $328M | 12 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $236M | 10 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $167M | 11 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $134M | 10 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $45M | 6 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $51M | 9 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $63M | 9 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $169M | 11 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $193M | 13 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $93M | 13 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $123M | 14 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $150M | 14 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $216M | 16 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $455M | 25 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $210M | 18 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $206M | 17 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $213M | 13 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $330M | 19 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $185M | 14 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $383M | 20 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $302M | 31 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $294M | 16 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $368M | 16 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $349M | 12 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $332M | 14 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
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 ↗.