Managers / Q1 2019 · view latest →
Benefit Street Partners LLC
CIK 0001543160 · ONE MADISON AVENUE, SUITE 1600, NEW YORK, NY, 10010 · 401-751-1700
Summary
Benefit Street Partners LLC reported $1.2B in U.S.-listed holdings across 40 positions for Q1 2019.
The portfolio is heavily concentrated: Berry Pete alone accounts for 23.6% of reported value.
Compared with Q4 2018, the fund opened 5 new positions and exited 7.
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 · 40.6% · $473M
- ETP · 39.1% · $455M
- US DOMESTIC · 11.2% · $130M
- ADR · 8.7% · $101M
- Other · 0.3% · $4M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2018 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| STNGSCORPIO TANKERS INC | NEW | +1.58M | 1.58M | +$31M | $31M |
| LNGCHENIERE ENERGY INC | NEW | +265.0K | 265.0K | +$18M | $18M |
| SCORPIO TANKERS INC | NEW | +4.00M | 4.00M | +$4M | $4M |
| TRGPTARGA RES CORP | NEW | +53.5K | 53.5K | +$2M | $2M |
| CMLSQCUMULUS MEDIA INC | NEW | +59.6K | 59.6K | +$894,000 | $894,000 |
| WPX ENERGY INC | ADDED | +867.0K | 1.11M | +$12M | $15M |
| OI S A | ADDED | +34.03M | 53.74M | +$70M | $101M |
| ETENERGY TRANSFER LP | SOLD OUT | −2.19M | 0 | −$29M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2019
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BERRY PETE CORP | COM | 23.58% | $274M | 23.77M |
| 2 | OI S A | SPONSORED ADR NE | 8.69% | $101M | 53.74M |
| 3 | CHESAPEAKE ENERGY CORP | NOTE 5.500% 9/1 | 7.70% | $90M | 96.78M |
| 4 | AVAYA HLDGS CORP | COM | 7.06% | $82M | 4.88M |
| 5 | STNGSCORPIO TANKERS INC | SHS · NOTE 3.000% 5/1 | 2.99% | $35M | 5.58M |
| 6 | WEATHERFORD INTL LTD | NOTE 5.875% 7/0 | 2.41% | $28M | 34.74M |
| 7 | LNGCHENIERE ENERGY INC | COM NEW · NOTE 4.250% 3/1 | 1.69% | $20M | 2.27M |
| 8 | WPX ENERGY INC | COM | 1.25% | $15M | 1.11M |
| 9 | VSTVISTRA ENERGY CORPhistory → | COM | 1.01% | $12M | 450.0K |
| 10 | NII HLDGS INC | COM PAR | 0.88% | $10M | 5.19M |
| 11 | XXYCROSS CTRY HEALTHCARE INC | COM | 0.81% | $9M | 1.34M |
| 12 | THCTENET HEALTHCARE CORP | COM NEW | 0.51% | $6M | 205.7K |
| 13 | AK STL CORP | NOTE 5.000%11/1 | 0.50% | $6M | 5.81M |
| 14 | FRONTIER COMMUNICATIONS CORP | COM NEW | 0.35% | $4M | 2.04M |
| 15 | ARANTERO RES CORP | COM | 0.29% | $3M | 376.1K |
| 16 | EAGLE BULK SHIPPING INC | SHS NEW | 0.28% | $3M | 700.0K |
| 17 | TRGPTARGA RES CORP | COM | 0.19% | $2M | 53.5K |
| 18 | FTS INTERNATIONAL INC | COM | 0.18% | $2M | 208.6K |
| 19 | DISH NETWORK CORP | NOTE 2.375% 3/1 | 0.16% | $2M | 2.30M |
| 20 | GSMFERROGLOBE PLC | SHS | 0.13% | $1M | 722.5K |
| 21 | CMLSQCUMULUS MEDIA INC | COM CLASS A | 0.08% | $894,000 | 59.6K |
| 22 | DONNELLEY R R & SONS CO | COM | 0.06% | $704,000 | 149.2K |
| 23 | HC2 HLDGS INC | COM | 0.06% | $695,000 | 283.5K |
| 24 | SYNCSYNACOR INC | COM | 0.01% | $94,000 | 59.8K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $86M | 19 | Apr 20, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $91M | 17 | Jan 22, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $20M | 8 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $31M | 9 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $49M | 13 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $52M | 11 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $85M | 15 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $168M | 17 | Jul 27, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $540M | 28 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $302M | 45 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $265M | 43 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $262M | 40 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $704M | 43 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $688M | 39 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $204M | 35 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $395M | 27 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $170M | 21 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $211M | 19 | Feb 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $403M | 34 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $1.1B | 42 | Aug 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $1.2B | 40 | May 28, 2019 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2018 | $680M | 46 | Jan 31, 2019 | 13F-HR | changes · EDGAR ↗ |
Other Included Managers
This filing reports holdings on behalf of 2 additional managers.
- Benefit Street Credit Alpha Master Fund Ltd.028-18458
- FRANKLIN RESOURCES INC028-00734
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 ↗.