Managers / Q2 2020 · view latest →
Springhouse Capital Management, LP
CIK 0001660086 · 18 BURR FARMS ROAD, WESTPORT, CT, 06880 · 212-319-2570
Summary
Springhouse Capital Management, LP reported $83M in U.S.-listed holdings across 15 positions for Q2 2020.
The portfolio is heavily concentrated: Global Indty Ltd Cayman alone accounts for 20.9% of reported value.
Compared with Q1 2020, the fund opened 2 new positions and exited 5.
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 · 57.7% · $48M
- Other · 36.2% · $30M
- ADR · 5.1% · $4M
- MLP · 1.0% · $813,000
Quarter-over-Quarter Changes full breakdown →
vs Q1 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BIDUBAIDU INC | NEW | +6.2K | 6.2K | +$743,000 | $743,000 |
| DESPEGAR COM CORP | NEW | +54.2K | 54.2K | +$389,000 | $389,000 |
| ADNTADIENT PLC | SOLD OUT | −170.1K | 0 | −$2M | $0 |
| RVLVREVOLVE GROUP INC | SOLD OUT | −125.0K | 0 | −$1M | $0 |
| FLRFLUOR CORP NEW | SOLD OUT | −100.0K | 0 | −$691,000 | $0 |
| MEDLEY MGMT INC | SOLD OUT | −409.3K | 0 | −$278,000 | $0 |
| MEDLEY CAP CORP | SOLD OUT | −128.6K | 0 | −$75,000 | $0 |
| METAFACEBOOK INC | TRIMMED | −19.0K | 12.0K | −$2M | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GLOBAL INDTY LTD CAYMAN | USD CL A SHS | 20.90% | $17M | 726.0K |
| 2 | OAKTREE SPECIALTY LENDING CO | COM | 19.37% | $16M | 3.60M |
| 3 | G WILLI FOOD INTL LTD | ORD | 14.89% | $12M | 794.2K |
| 4 | CREDIT SUISSE GROUP | SPONSORED ADR | 10.23% | $9M | 825.7K |
| 5 | MSMORGAN STANLEYhistory → | COM NEW | 9.09% | $8M | 156.5K |
| 6 | CCITIGROUP INChistory → | COM NEW | 4.98% | $4M | 81.1K |
| 7 | OCSIOAKTREE STRATEGIC INCOME CORhistory → | COM | 4.52% | $4M | 593.1K |
| 8 | BCSBARCLAYS PLChistory → | ADR | 4.22% | $4M | 620.1K |
| 9 | METAFACEBOOK INChistory → | CL A | 3.28% | $3M | 12.0K |
| 10 | GSGOLDMAN SACHS GROUP INChistory → | COM | 2.57% | $2M | 10.8K |
| 11 | DXCDXC TECHNOLOGY COhistory → | COM | 1.92% | $2M | 97.0K |
| 12 | GOOGALPHABET INChistory → | CAP STK CL C | 1.70% | $1M | 1.0K |
| 13 | CALUMET SPECIALTY PRODS PTNR | UT LTD PARTNER | 0.98% | $813,000 | 356.7K |
| 14 | BIDUBAIDU INC | SPON ADR REP A | 0.89% | $743,000 | 6.2K |
| 15 | DESPEGAR COM CORP | ORD SHS | 0.47% | $389,000 | 54.2K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2023 | $55M | 22 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $60M | 22 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $75M | 27 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $75M | 32 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $150M | 47 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $202M | 57 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $157M | 44 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $142M | 33 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $106M | 26 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $111M | 23 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $100M | 19 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $104M | 21 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020REVEALED | $83M | 16 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $83M | 15 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $81M | 18 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $105M | 12 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $149M | 17 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $178M | 19 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $154M | 18 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $207M | 22 | Feb 14, 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 ↗.