Managers / Q1 2021 · view latest →
Springhouse Capital Management, LP
CIK 0001660086 · 18 BURR FARMS ROAD, WESTPORT, CT, 06880 · 212-319-2570
Summary
Springhouse Capital Management, LP reported $100M in U.S.-listed holdings across 19 positions for Q1 2021.
The portfolio is heavily concentrated: GBLI alone accounts for 22.3% of reported value.
Compared with Q4 2020, 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 · 61.6% · $62M
- Other · 24.0% · $24M
- ADR · 9.0% · $9M
- MLP · 5.4% · $5M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| VIPSVIPSHOP HOLDINGS LIMITED | NEW | +149.7K | 149.7K | +$4M | $4M |
| AMZNAMAZON COM INC | NEW | +1.4K | 1.4K | +$4M | $4M |
| VTRSVIATRIS INC | NEW | +70.0K | 70.0K | +$978,000 | $978,000 |
| EROS STX GLOBAL CORPORATION | NEW | +320.0K | 320.0K | +$578,000 | $578,000 |
| TWITTER INC | NEW | +7.0K | 7.0K | +$445,000 | $445,000 |
| METAFACEBOOK INC | ADDED | +14.1K | 16.6K | +$4M | $5M |
| BURBURFORD CAP LTD | ADDED | +153.8K | 273.7K | +$1M | $2M |
| OCSIOAKTREE STRATEGIC INCOME COR | SOLD OUT | −554.0K | 0 | −$4M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GBLIGLOBAL INDEMNITY GROUP LLChistory → | COM CL A | 22.26% | $22M | 754.6K |
| 2 | G WILLI FOOD INTL LTD | ORD | 17.05% | $17M | 749.7K |
| 3 | WFCWELLS FARGO CO NEWhistory → | COM | 7.62% | $8M | 196.0K |
| 4 | CREDIT SUISSE GROUP | SPONSORED ADR | 6.53% | $7M | 619.0K |
| 5 | BP MIDSTREAM PARTNERS LP | UNIT LTD PTNR | 6.40% | $6M | 507.4K |
| 6 | CCITIGROUP INChistory → | COM NEW | 5.06% | $5M | 69.9K |
| 7 | METAFACEBOOK INChistory → | CL A | 4.87% | $5M | 16.6K |
| 8 | BCSBARCLAYS PLChistory → | ADR | 4.58% | $5M | 450.1K |
| 9 | VIPSVIPSHOP HOLDINGS LIMITEDhistory → | SPONSORED ADS A | 4.45% | $4M | 149.7K |
| 10 | AMZNAMAZON COM INChistory → | COM | 4.43% | $4M | 1.4K |
| 11 | GOOGALPHABET INChistory → | CAP STK CL C | 3.64% | $4M | 1.8K |
| 12 | OAKTREE SPECIALTY LENDING CO | COM | 3.27% | $3M | 529.8K |
| 13 | BURBURFORD CAP LTDhistory → | ORD SHS | 2.45% | $2M | 273.7K |
| 14 | CALUMET SPECIALTY PRODS PTNR | UT LTD PARTNER | 2.17% | $2M | 356.7K |
| 15 | SHELL MIDSTREAM PARTNERS L P | UNIT LTD INT | 2.15% | $2M | 161.8K |
| 16 | GELGENESIS ENERGY L Phistory → | UNIT LTD PARTN | 1.07% | $1M | 114.8K |
| 17 | VTRSVIATRIS INC | COM | 0.97% | $978,000 | 70.0K |
| 18 | EROS STX GLOBAL CORPORATION | SHS NEW | 0.58% | $578,000 | 320.0K |
| 19 | TWITTER INC | COM | 0.44% | $445,000 | 7.0K |
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 ↗ |
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 ↗.