SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Benefit Street Partners LLC

CIK 0001543160 · ONE MADISON AVENUE, SUITE 1600, NEW YORK, NY, 10010 · 401-751-1700

Reported Value
$91M
Q4 2025
Positions
17
Filings on Record
23
2019–present window
Filed
Jan 22, 2026
original filing

Summary

Benefit Street Partners LLC reported $91M in U.S.-listed holdings across 17 positions for Q4 2025.

The portfolio is heavily concentrated: Riot Platforms alone accounts for 25.4% of reported value.

Compared with Q3 2023, the fund opened 16 new positions and exited 7.

Portfolio Metrics

Turnover
+31.0%
vs prior filed quarter
Top-10 Concentration
+97.1%
share of reported value
Largest Position
+25.4%
Riot Platforms
New / Exited
16 / 7
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
Q4 ’18: $680MQ4 ’18Q1 ’19: $1.2BQ2 ’19: $1.1BQ3 ’19: $403MQ3 ’19Q4 ’19: $211MQ1 ’20: $170MQ2 ’20: $395MQ2 ’20Q3 ’20: $204MQ4 ’20: $688MQ1 ’21: $704MQ1 ’21Q2 ’21: $262MQ3 ’21: $265MQ4 ’21: $302MQ4 ’21Q1 ’22: $540MQ2 ’22: $168MQ3 ’22: $85MQ3 ’22Q4 ’22: $52MQ1 ’23: $49MQ2 ’23: $31MQ2 ’23Q3 ’23: $20MQ4 ’25: $91MQ1 ’26: $86MQ1 ’26filingsflow.com

Portfolio Composition

By security type
US DOMESTIC: 38.0%Common Stock: 31.0%PUBLIC: 16.0%Other: 10.1%GLOBAL: 5.0%
  • US DOMESTIC · 38.0% · $34M
  • Common Stock · 31.0% · $28M
  • PUBLIC · 16.0% · $14M
  • Other · 10.1% · $9M
  • GLOBAL · 5.0% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline) · note: prior filed quarter, not the immediately preceding one

IssuerMoveShare ΔShares nowValue ΔValue now
RIOT PLATFORMS INCNEW+20.50M20.50M+$23M$23M
PG&E CORPNEW+353.3K353.3K+$14M$14M
ECHOECHOSTAR CORPNEW+121.2K121.2K+$13M$13M
EAFGRAFTECH INTL LTDNEW+713.1K713.1K+$11M$11M
ANYWHERE REAL ESTATE INCNEW+644.7K644.7K+$9M$9M
ECHOSTAR CORPNEW+1.36M1.36M+$5M$5M
JETBLUE AIRWAYS CORPNEW+4.25M4.25M+$4M$4M
FLUENCE ENERGY INCNEW+2.00M2.00M+$2M$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RIOT PLATFORMS INCNOTE 0.750% 1/125.45%$23M20.50M
2ECHOECHOSTAR CORPCL A · NOTE 3.875%11/319.53%$18M1.48M
3PG&E CORPPFD CONV SER A15.96%$14M353.3K
4EAFGRAFTECH INTL LTDhistory →COM NEW12.19%$11M713.1K
5ANYWHERE REAL ESTATE INCCOM10.06%$9M644.7K
6JETBLUE AIRWAYS CORPNOTE 2.500% 9/04.52%$4M4.25M
7CCOCLEAR CHANNEL OUTDOOR HLDGShistory →COM3.65%$3M1.50M
8FLUENCE ENERGY INCNOTE 2.250% 6/12.18%$2M2.00M
9BLACKSTONE MORTGAGE TRUST INNOTE 5.500% 3/11.85%$2M1.70M
10COINBASE GLOBAL INCNOTE 0.250% 4/01.69%$2M1.50M
11SHIFT4 PMTS INCNOTE 0.500% 8/01.06%$961,5391.00M
12STRATEGY INCNOTE 0.625% 9/10.69%$628,954540.0K
13NORTHERN OIL & GAS INCNOTE 3.625% 4/10.53%$476,573500.0K
14SKILSKILLSOFT CORPCL A0.47%$428,87046.1K
15MERCMERCER INTL INCCOM0.14%$126,09663.7K
16GOCOQGOHEALTH INCCL A NEW0.03%$29,22313.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$86M19Apr 20, 202613F-HRchanges · EDGAR ↗
Q4 2025$91M17Jan 22, 202613F-HRchanges · EDGAR ↗
Q3 2023$20M8Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$31M9Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$49M13May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$52M11Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$85M15Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$168M17Jul 27, 202213F-HRchanges · EDGAR ↗
Q1 2022$540M28May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$302M45Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$265M43Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$262M40Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$704M43May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$688M39Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$204M35Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$395M27Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$170M21May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$211M19Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$403M34Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.1B42Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.2B40May 28, 2019RESTATEMENTchanges · EDGAR ↗
Q4 2018$680M46Jan 31, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • 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 ↗.