Managers / Q4 2025 · view latest →
Nut Tree Capital Management, LP
CIK 0001661655 · 55 HUDSON YARDS, 22ND FLOOR, NEW YORK, NY, 10001 · 212-418-1292
Summary
Nut Tree Capital Management, LP reported $531M in U.S.-listed holdings across 9 positions for Q4 2025.
The portfolio is heavily concentrated: AERO alone accounts for 24.6% of reported value.
Compared with Q3 2025, the fund opened 2 new positions and exited 1.
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. 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 · 35.1% · $186M
- ADR · 24.6% · $131M
- GLOBAL · 16.3% · $86M
- Other · 11.8% · $63M
- REIT · 11.6% · $62M
- Other · 0.6% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| AEROGRUPO AEROMEXICO SAB DE CV | NEW | +5.95M | 5.95M | +$131M | $131M |
| ISHARES TR | NEW | +13.1K | 13.1K | +$3M | $3M |
| CZRCAESARS ENTERTAINMENT INC NE | SOLD OUT | −2.00M | 0 | −$54M | $0 |
| CONSTELLIUM SE | TRIMMED | −1.99M | 3.23M | −$17M | $61M |
| ECHOECHOSTAR CORP | HELD | +0 | 750.0K | +$24M | $82M |
| ECHOSTAR CORP | HELD | +0 | 25.80M | +$23M | $86M |
| AVAHAVEANNA HEALTHCARE HLDGS INC | HELD | +0 | 12.37M | −$9M | $101M |
| TRINSEO PLC | HELD | +0 | 3.50M | −$6M | $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
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | ECHOECHOSTAR CORP | NOTE 3.875%11/3 · CL A | 31.62% | $168M | 26.55M |
| 2 | AEROGRUPO AEROMEXICO SAB DE CVhistory → | SPONSORED ADS | 24.63% | $131M | 5.95M |
| 3 | AVAHAVEANNA HEALTHCARE HLDGS INChistory → | COM | 19.05% | $101M | 12.37M |
| 4 | BRSPBRIGHTSPIRE CAPITAL INChistory → | COM CL A | 11.60% | $62M | 10.99M |
| 5 | CONSTELLIUM SE | CL A SHS | 11.46% | $61M | 3.23M |
| 6 | BLCOBAUSCH PLUS LOMB CORP | COMMON SHARES | 0.70% | $4M | 216.9K |
| 7 | ISHARES TR | RUSSELL 2000 ETF | 0.61% | $3M | 13.1K |
| 8 | TRINSEO PLC | SHS | 0.33% | $2M | 3.50M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $245M | 4 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $531M | 9 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $433M | 8 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $340M | 10 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $307M | 12 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $292M | 10 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $443M | 13 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $391M | 15 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024REVEALED | $361M | 11 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $308M | 11 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $271M | 9 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $308M | 8 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $324M | 10 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $186M | 6 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $325M | 10 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $888M | 12 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $924M | 12 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $517M | 11 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $470M | 11 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $483M | 10 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $480M | 12 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $448M | 11 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $330M | 13 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $317M | 14 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $223M | 18 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $220M | 11 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $326M | 14 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $184M | 11 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $130M | 10 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $84M | 9 | 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 ↗.