Managers / Q3 2019 · view latest →
STONEHILL CAPITAL MANAGEMENT LLC
CIK 0001266227 · 320 PARK AVE., 26TH FLOOR, NEW YORK, NY, 10022 · 212 739 7474
Summary
Stonehill Capital Management LLC reported $368M in U.S.-listed holdings across 16 positions for Q3 2019.
The portfolio is heavily concentrated: Altaba Inc Common alone accounts for 46.8% of reported value.
Compared with Q2 2019, the fund opened 6 new positions and exited 2.
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
- Closed-End Fund · 46.8% · $172M
- Common Stock · 35.0% · $129M
- Other · 11.7% · $43M
- GLOBAL · 4.6% · $17M
- ADR · 1.9% · $7M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| THCTENET HEALTHCARE CORP COMMON | NEW | +1.07M | 1.07M | +$24M | $24M |
| INTELSAT SA COMMON | NEW | +568.6K | 568.6K | +$13M | $13M |
| LORAL SPACE & COMMUNICATIONS COMMON | NEW | +238.3K | 238.3K | +$10M | $10M |
| LNWOSCIENTIFIC GAMES CORP COMMON | NEW | +236.7K | 236.7K | +$5M | $5M |
| MDCAMDC PARTNERS INC CL A COMMON | NEW | +737.7K | 737.7K | +$2M | $2M |
| AKORN INC COMMON | NEW | +505.6K | 505.6K | +$2M | $2M |
| CCOCLEAR CHANNEL OUTDOOR HOLDINGS, INC. COMMON | ADDED | +1.74M | 2.25M | +$3M | $6M |
| ALTABA INC COMMON | ADDED | +6.36M | 8.83M | +$469,000 | $172M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2019
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ALTABA INC COMMON | CMN | 46.80% | $172M | 8.83M |
| 2 | PCGP G & E CORP COMMONhistory → | CMN | 18.29% | $67M | 6.73M |
| 3 | SANOFI CVR | CMN | 8.18% | $30M | 53.69M |
| 4 | THCTENET HEALTHCARE CORP COMMONhistory → | CMN | 6.41% | $24M | 1.07M |
| 5 | TRINITY BIOTECH SR UNSEC CONV | NOTE | 4.60% | $17M | 26.00M |
| 6 | INTELSAT SA COMMON | CMN | 3.53% | $13M | 568.6K |
| 7 | WILLIAM LYON HOMES CL A COMMON | CMN | 2.95% | $11M | 532.4K |
| 8 | LORAL SPACE & COMMUNICATIONS COMMON | CMN | 2.68% | $10M | 238.3K |
| 9 | CCOCLEAR CHANNEL OUTDOOR HOLDINGS, INC. COMMONhistory → | CMN | 1.54% | $6M | 2.25M |
| 10 | LNWOSCIENTIFIC GAMES CORP COMMONhistory → | CMN | 1.31% | $5M | 236.7K |
| 11 | TRIBGBPTRINITY BIOTECH PLC ADR | CMN | 0.94% | $3M | 2.86M |
| 12 | ROANROAN RESOURCES INC COMMON | CMN | 0.72% | $3M | 2.14M |
| 13 | IRSA ADR | CMN | 0.59% | $2M | 412.7K |
| 14 | MDCAMDC PARTNERS INC CL A COMMON | CMN | 0.57% | $2M | 737.7K |
| 15 | AKORN INC COMMON | CMN | 0.52% | $2M | 505.6K |
| 16 | OI SA ADR | CMN | 0.38% | $1M | 1.27M |
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 ↗.