WhaleCreep

Kingstown Capital Management L.P. 13F holdings, Q1 2021

Hedge fundSEC filingsCompare with another fundHoldings as of 2021-03-31, filed 2021-05-17

Kingstown Capital Management L.P. disclosed 99 US equity positions worth $290.8m in its Q1 2021 13F filing. Its largest position is META at 3.0% of the reported book, followed by GS and GDX. Versus Q4 2020 it opened 84 new positions, added to 2, reduced 11 and exited 18.

$291m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
99
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
3.0%
Largest position
The largest single position as a share of the reported equity book.
26.1%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
64
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
48
Quarters on file since Q4 2010
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q4 2020: 84 new, 2 added, 11 reduced, 18 exited

50 of 99
META META PLATFORMS INCCommunication Services3.0%$8.8m30,000+20%added
GS GOLDMAN SACHS GROUP INCFinancial Services2.8%$8.2m25,000−38%reduced
GDX VANECK ETF TRUST–2.8%$8.1m250,000−9.1%reduced
STAYUSD EXTENDED STAY AMER INC–2.7%$7.9m400,000−20%reduced
T AT&T INCCommunication Services2.6%$7.6m250,0000.0%held
PSA PUBLIC STORAGEReal Estate2.5%$7.4m30,0000.0%held
MSFT MICROSOFT CORPTechnology2.4%$7.1m30,000−33%reduced
FCN FTI CONSULTING INCIndustrials2.4%$7.0m50,000−17%reduced
WIX WIX COM LTDTechnology2.4%$7.0m25,000+25%added
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical2.3%$6.8m30,000−20%reduced
INTC INTEL CORPTechnology2.2%$6.4m100,000–new
TME TENCENT MUSIC ENTMT GROUPCommunication Services2.1%$6.1m300,000−40%reduced
ATLAS CREST INVESTMENT CORP no ticker–2.0%$5.9m599,996–new
BX BLACKSTONE INCFinancial Services1.9%$5.6m75,000−25%reduced
COWNEUR COWEN INC–1.8%$5.3m150,000–new
PINS PINTEREST INCCommunication Services1.7%$5.0m67,500−32%reduced
COLICITY INC no ticker–1.4%$4.0m400,000–new
SCION TECH GROWTH I no ticker–1.3%$3.9m400,000–new
890 5TH AVE PARTNERS INC no ticker–1.3%$3.9m400,000–new
LIBERTY MEDIA CORP DEL no ticker–1.1%$3.3m75,000−40%reduced
LIBERTY MEDIA CORP DEL no ticker–1.1%$3.3m75,000−40%reduced
ROCKET INTERNET GRWT OPRT CO no ticker–1.1%$3.3m325,000–new
CORAZON CAPITAL V838 MONOCER no ticker–1.1%$3.2m325,000–new
MOTIVE CAPITAL CORP no ticker–1.1%$3.2m325,000–new
POEMA GLOBAL HOLDINGS CORP no ticker–1.1%$3.2m325,000–new
KL ACQUISITION CORP no ticker–1.1%$3.2m325,000–new
TLG ACQUISITION ONE CORP no ticker–1.1%$3.1m325,000–new
TRIBE CAPITAL GROWTH CORP I no ticker–1.0%$3.0m300,000–new
SUPERNOVA PARTNERS ACQUISTN no ticker–1.0%$3.0m300,000–new
AUSTERLITZ ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
KKR ACQUISITION HOLDING I CO no ticker–1.0%$3.0m300,000–new
THIMBLE POINT ACQUISITION CO no ticker–1.0%$3.0m300,000–new
ALPHA CAPITAL ACQUISITION CO no ticker–1.0%$3.0m300,000–new
DHC ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
NEW VISTA ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
WARBURG PINCUS CAPTAL CORP I no ticker–1.0%$3.0m300,000–new
KHOSLA VENTURES ACQUT CO III no ticker–1.0%$3.0m300,000–new
LEVERE HOLDINGS CORP no ticker–1.0%$3.0m300,000–new
CARTESIAN GROWTH CORP no ticker–1.0%$3.0m300,000–new
COVA ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
L CATTERTON ASIA ACQUISITION no ticker–1.0%$3.0m300,000–new
CROWN PROPTECH ACQUISITIONS no ticker–1.0%$3.0m300,000–new
ITIQUIRA ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
FUSION ACQUISITION CORP II no ticker–1.0%$3.0m300,000–new
AGILE GROWTH CORP no ticker–1.0%$3.0m300,000–new
FRONTIER ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
FORESIGHT ACQUISITION CORP no ticker–1.0%$3.0m300,000–new
ARES ACQUISITION CORPORATION no ticker–1.0%$3.0m300,000–new
KISMET ACQUISITION THREE COR no ticker–1.0%$3.0m300,000–new
GIGCAPITAL4 INC no ticker–1.0%$3.0m300,000–new

Exited since Q4 2020

18 rows
SINA CORP no ticker8.6%$15.9m
NORTHERN STAR ACQUISITION CO no ticker3.9%$7.3m
MOTIVE CAPITAL CORP no ticker2.3%$4.2m
CORNER GROWTH ACQUISITION CO no ticker2.3%$4.2m
COHN ROBBINS HOLDINGS CORP no ticker2.3%$4.2m
CONX CORP no ticker2.2%$4.1m
NEW PROVIDENCE ACQUISITION no ticker2.2%$4.1m
BRIDGETOWN HOLDINGS LTD no ticker2.1%$3.9m
FAR PEAK ACQUISITION CORP no ticker2.0%$3.6m
ATLAS CREST INVT CORP no ticker1.9%$3.5m
GOLDEN FALCON ACQUISITION CO no ticker1.8%$3.4m
MUDRICK CAPITAL ACQU CORP II no ticker1.4%$2.6m
DPCM CAP INC no ticker1.3%$2.3m
SEVEN OAKS ACQUISITION CORP no ticker1.3%$2.3m
EQUITY DISTR ACQUISITION COR no ticker1.2%$2.3m
OAKTREE ACQUISITION CORP II no ticker0.9%$1.6m
ABNB AIRBNB INC0.8%$1.5m
CITIC CAPITAL ACQUISITION CO no ticker0.4%$666k

Sector mix

  • Unclassified71.5%
  • Communication Services9.5%
  • Technology7.0%
  • Financial Services4.7%
  • Real Estate2.5%
  • Industrials2.4%
  • Consumer Cyclical2.3%

Book over time

Every quarter on file (48)
QuarterPositionsEquity book
Q3 202247$30.4m
Q2 202263$60.4m
Q1 202268$65.9m
Q4 202170$79.5m
Q3 202179$100.0m
Q2 2021101$167m
Q1 202199$291m
Q4 202033$184m
Q3 202015$162m
Q2 202014$212m
Q1 202021$651m
Q4 201913$344m
Q3 201915$402m
Q2 201915$549m
Q1 201915$487m
Q4 201815$461m
Q3 201817$754m
Q2 201818$801m
Q1 201814$674m
Q4 201718$851m
Q3 201717$843m
Q2 201719$798m
Q1 201719$964m
Q4 201620$1.0bn
Q3 201621$897m
Q2 201623$882m
Q1 201621$927m
Q4 201522$928m
Q3 201522$890m
Q2 201517$778m
Q1 201516$768m
Q4 201417$689m
Q3 201414$684m
Q2 201415$668m
Q1 201421$800m
Q4 201320$806m
Q3 201319$656m
Q2 201322$603m
Q1 201317$471m
Q4 201218$414m
Q3 201217$374m
Q2 201216$345m
Q1 201216$293m
Q4 201115$268m
Q3 201115$277m
Q2 201112$244m
Q1 201117$269m
Q4 201016$195m

Where Kingstown Capital Management L.P. was early

36 rows
ORI OLD REP INTL CORPQ4 20111 of 941.7%8.9%7Exited by Q3 2013+39%
MDRX ALLSCRIPTS HEALTHCARE SOLUTNQ2 20124 of 967.9%8.3%3Exited by Q1 2013−14%
GM GENERAL MTRS COQ2 20125 of 1696.9%9.1%30Exited by Q4 2019+90%
GRFS GRIFOLS S A SPQ3 20121 of 634.3%4.3%2Exited by Q1 2013+19%
GD GENERAL DYNAMICS CORPQ3 20127 of 1348.8%10.9%6Exited by Q1 2014+45%
S9Q SPIRIT AEROSYSTEMS HLDGS INCQ1 20135 of 1536.0%9.4%10Exited by Q3 2020+26%
SXC SUNCOKE ENERGY INCQ2 20131 of 706.0%6.7%14Exited by Q4 2016−43%
ETRA E TRADE FINANCIAL CORPQ2 20132 of 946.8%6.8%3Exited by Q1 2014+55%
RHP RYMAN HOSPITALITY PPTYS INCQ2 20132 of 1181.6%4.5%4Exited by Q2 2014+9.0%
AMH AMERICAN HOMES 4 RENTQ3 20131 of 1273.3%6.6%4Exited by Q3 2014+10.0%
NWSA NEWS CORP NEWQ3 20132 of 14010.8%11.4%10Exited by Q1 2016−17%
NAVI NAVIENT CORPQ2 20141 of 1166.4%7.1%10Exited by Q4 2016−18%
CFG CITIZENS FINL GROUP INCQ3 20142 of 1713.4%8.3%12Exited by Q3 2017+52%
TRCO TRIBUNE MEDIA COQ4 20146 of 1057.4%7.9%5Exited by Q1 2016−43%
RITM NEW RESIDENTIAL INVT CORPQ3 20157 of 1345.5%7.8%14Exited by Q1 2019+8.5%
BNY BANK NEW YORK MELLON CORPQ3 201512 of 1545.5%9.6%13Exited by Q4 2018+30%
BKD BROOKDALE SR LIVING INCQ3 201514 of 1503.9%6.7%8Exited by Q3 2017−36%
HPE HEWLETT PACKARD ENTERPRISE CQ4 20151 of 2197.0%12.1%9Exited by Q1 2018+63%
PJT PJT PARTNERS INCQ2 20164 of 1032.3%3.4%7Exited by Q1 2018+98%
ADNT ADIENT PLCQ4 20162 of 13314.4%19.9%8Exited by Q4 2018−33%
DXC DXC TECHNOLOGY COQ2 20171 of 1627.7%10.6%10Exited by Q4 2019−56%
CARS CARS COM INCQ2 20173 of 1251.7%7.1%3Exited by Q1 2018+8.3%
FPH FIVE POINT HOLDINGS LLCQ2 20175 of 552.7%3.1%11Exited by Q1 2020−53%
RMNI RIMINI STR INC DELQ4 20171 of 600.3%1.3%9Exited by Q1 2020−51%
PCG PG&E CORPQ4 201712 of 2095.3%9.8%5Exited by Q1 2019−47%
TME TENCENT MUSIC ENTMT GROUPQ4 20181 of 1675.0%12.4%11Exited by Q3 2021+17%
KKR KKR & CO INCQ1 201914 of 2112.4%10.6%4Exited by Q1 2020+24%
SPT SPROUT SOCIAL INCQ1 20202 of 1200.9%2.5%2Exited by Q3 2020+69%
GTX GARRETT MOTION INCQ1 20207 of 1370.9%2.6%2Exited by Q3 2020+94%
FE FIRSTENERGY CORPQ1 202011 of 1536.2%9.1%3Exited by Q4 2020−28%
EFC ELLINGTON FINANCIAL INCQ2 20203 of 616.9%6.9%2Exited by Q4 2020+4.1%
PINS PINTEREST INCQ2 202018 of 2412.6%5.1%5Exited by Q3 2021+256%
BX BLACKSTONE INCQ3 202016 of 20612.9%12.9%5Exited by Q4 2021+123%
WIX WIX COM LTDQ3 202021 of 2105.1%5.1%4Exited by Q3 2021+14%
BARK BARK INCQ2 20211 of 681.7%1.7%6Held at last filing, Q3 2022−84%
ASTS AST SPACEMOBILE INCQ2 20212 of 1081.2%1.9%5Exited by Q3 2022−51%

Concentration and tenure

13.5%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
79.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters