SEC 13F Intelligence

Managers / Q3 2020 · view latest →

Springhouse Capital Management, LP

CIK 0001660086 · 18 BURR FARMS ROAD, WESTPORT, CT, 06880 · 212-319-2570

Reported Value
$83M
Q3 2020
Positions
16
includes revealed positions
Filings on Record
20
2019–present window
Filed
Nov 16, 2020
original filing

Summary

Springhouse Capital Management, LP reported $83M in U.S.-listed holdings across 16 positions for Q3 2020.

Its largest position, Oaktree Specialty Lending, represents 19.6% of the portfolio.

Compared with Q2 2020, the fund opened 4 new positions and exited 3.

Portfolio Metrics

Turnover
+30.2%
vs prior filed quarter
Top-10 Concentration
+94.4%
share of reported value
Largest Position
+19.6%
Oaktree Specialty Lending
New / Exited
4 / 3
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
Q1 ’19: $154MQ1 ’19Q2 ’19: $178MQ3 ’19: $149MQ4 ’19: $105MQ4 ’19Q1 ’20: $81MQ2 ’20: $83MQ3 ’20: $83MQ3 ’20Q4 ’20: $104MQ1 ’21: $100MQ2 ’21: $111MQ2 ’21Q3 ’21: $106MQ4 ’21: $142MQ1 ’22: $157MQ1 ’22Q2 ’22: $202MQ3 ’22: $150MQ4 ’22: $75MQ4 ’22Q1 ’23: $75MQ2 ’23: $60MQ3 ’23: $55MQ3 ’23filingsflow.com

Portfolio Composition

By security type
Common Stock: 70.3%Other: 18.9%REIT: 5.0%ADR: 4.7%MLP: 1.1%
  • Common Stock · 70.3% · $58M
  • Other · 18.9% · $16M
  • REIT · 5.0% · $4M
  • ADR · 4.7% · $4M
  • MLP · 1.1% · $910,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GBLIGLOBAL INDEMNITY GROUP LLCREVEALEDNEW+773.4K773.4K+$16M$16M
ANHANWORTH MTG ASSET CORPNEW+2.54M2.54M+$4M$4M
TPBTURNING PT BRANDS INCNEW+23.1K23.1K+$643,000$643,000
NEW YORK MTG TR INCNEW+215.0K215.0K+$548,000$548,000
GLOBAL INDTY LTD CAYMANSOLD OUT−726.0K0−$17M$0
METAFACEBOOK INCSOLD OUT−12.0K0−$3M$0
DESPEGAR COM CORPSOLD OUT−54.2K0−$389,000$0
GOOGALPHABET INCTRIMMED−500500−$679,000$735,000

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

Holdings — Q3 2020REVEALED

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1OAKTREE SPECIALTY LENDING COCOM19.61%$16M3.35M
2GBLIGLOBAL INDEMNITY GROUP LLCREVEALEDhistory →COM CL A19.45%$16M773.4K
3G WILLI FOOD INTL LTDORD18.90%$16M791.9K
4CREDIT SUISSE GROUPSPONSORED ADR9.96%$8M825.7K
5MSMORGAN STANLEYhistory →COM NEW6.19%$5M105.8K
6ANHANWORTH MTG ASSET CORPhistory →COM5.03%$4M2.54M
7OCSIOAKTREE STRATEGIC INCOME CORhistory →COM4.66%$4M591.6K
8CCITIGROUP INChistory →COM NEW4.23%$3M81.1K
9BCSBARCLAYS PLChistory →ADR3.76%$3M620.1K
10GSGOLDMAN SACHS GROUP INChistory →COM2.63%$2M10.8K
11DXCDXC TECHNOLOGY COhistory →COM1.23%$1M57.0K
12CALUMET SPECIALTY PRODS PTNRUT LTD PARTNER1.10%$910,000356.7K
13BIDUBAIDU INCSPON ADR REP A0.95%$785,0006.2K
14GOOGALPHABET INCCAP STK CL C0.89%$735,000500
15TPBTURNING PT BRANDS INCCOM0.78%$643,00023.1K
16NEW YORK MTG TR INCCOM PAR $.020.66%$548,000215.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2023$55M22Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$60M22Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$75M27May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$75M32Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$150M47Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$202M57Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$157M44May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$142M33Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$106M26Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$111M23Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$100M19May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$104M21Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020REVEALED$83M16Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$83M15Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$81M18May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$105M12Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$149M17Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$178M19Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$154M18May 15, 201913F-HRchanges · 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 ↗.