Managers / Q2 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 $111M in U.S.-listed holdings across 23 positions for Q2 2021.
Its largest position, GBLI, represents 18.3% of the portfolio.
Compared with Q1 2021, the fund opened 6 new positions and exited 2.
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 · 57.9% · $64M
- Other · 20.0% · $22M
- ADR · 17.3% · $19M
- MLP · 4.9% · $5M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BABAALIBABA GROUP HLDG LTD | NEW | +33.0K | 33.0K | +$7M | $7M |
| BIDUBAIDU INC | NEW | +24.5K | 24.5K | +$5M | $5M |
| GOOGLALPHABET INC | NEW | +1.9K | 1.9K | +$5M | $5M |
| IQIQIYI INC | NEW | +95.6K | 95.6K | +$1M | $1M |
| NFLXNETFLIX INC | NEW | +2.0K | 2.0K | +$1M | $1M |
| OLLIOLLIES BARGAIN OUTLET HLDGS | NEW | +7.0K | 7.0K | +$589,000 | $589,000 |
| TWITTER INC | ADDED | +17.0K | 24.0K | +$1M | $2M |
| BCSBARCLAYS PLC | SOLD OUT | −450.1K | 0 | −$5M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | GBLIGLOBAL INDEMNITY GROUP LLChistory → | COM CL A | 18.32% | $20M | 752.2K |
| 2 | G WILLI FOOD INTL LTD | ORD | 14.75% | $16M | 734.9K |
| 3 | GOOGALPHABET INC | CAP STK CL C · CAP STK CL A | 10.85% | $12M | 4.8K |
| 4 | METAFACEBOOK INChistory → | CL A | 8.99% | $10M | 28.6K |
| 5 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 6.76% | $7M | 33.0K |
| 6 | CREDIT SUISSE GROUP | SPONSORED ADR | 5.87% | $6M | 619.0K |
| 7 | AMZNAMAZON COM INChistory → | COM | 5.72% | $6M | 1.8K |
| 8 | BP MIDSTREAM PARTNERS LP | UNIT LTD PTNR | 4.76% | $5M | 363.8K |
| 9 | VIPSVIPSHOP HOLDINGS LIMITEDhistory → | SPONSORED ADS A | 4.70% | $5M | 259.1K |
| 10 | BIDUBAIDU INChistory → | SPON ADR REP A | 4.52% | $5M | 24.5K |
| 11 | CALUMET SPECIALTY PRODS PART | UT LTD PARTNER | 2.22% | $2M | 356.7K |
| 12 | WFCWELLS FARGO CO NEWhistory → | COM | 1.68% | $2M | 41.0K |
| 13 | TWITTER INC | COM | 1.49% | $2M | 24.0K |
| 14 | SHELL MIDSTREAM PARTNERS L P | UNIT LTD INT | 1.43% | $2M | 107.3K |
| 15 | IQIQIYI INChistory → | SPONSORED ADS | 1.35% | $1M | 95.6K |
| 16 | CCITIGROUP INChistory → | COM NEW | 1.33% | $1M | 20.8K |
| 17 | BURBURFORD CAP LTDhistory → | ORD SHS | 1.22% | $1M | 129.7K |
| 18 | GELGENESIS ENERGY L Phistory → | UNIT LTD PARTN | 1.20% | $1M | 114.8K |
| 19 | NFLXNETFLIX INC | COM | 0.95% | $1M | 2.0K |
| 20 | VTRSVIATRIS INC | COM | 0.90% | $1M | 70.0K |
| 21 | OLLIOLLIES BARGAIN OUTLET HLDGS | COM | 0.53% | $589,000 | 7.0K |
| 22 | EROS STX GLOBAL CORPORATION | SHS NEW | 0.44% | $490,000 | 320.0K |
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 ↗ |
| 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 ↗.