Funds › Voss Capital, LP › Q1 2020Voss Capital, LP 13F holdings, Q1 2020 Voss Capital, LP disclosed 37 US equity positions worth $72.1m in its Q1 2020 13F filing. Its largest position is BENEFYTT TECHNOLOGIES INC at 19.5% of the reported book, followed by RST and PAR. Versus Q4 2019 it opened 12 new positions, added to 11, reduced 14 and exited 18.
$72.1m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
37 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
19.5% Largest position The largest single position as a share of the reported equity book.
79.6% Top 10 weight The ten largest positions together, as a share of the reported equity book.
10 Effective positions 1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
27 Quarters on file since Q4 2019 Quarters for which this manager's 13F holdings are on record. Holdings Against Q4 2019: 12 new , 11 added , 14 reduced , 18 exited
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Stock Sector Weight Value Shares Δ shares Action BENEFYTT TECHNOLOGIES INC no ticker – 19.5% $14.1m 1.12m – new RST ROSETTA STONE INC – 16.7% $12.0m 1.45m +19% added PAR PAR TECHNOLOGY CORP Technology 9.1% $6.6m 884,000 +35% added RMNI RIMINI STR INC DEL – 7.7% $5.6m 2.10m +57% added KKR KKR & CO INC Financial Services 5.9% $4.2m 295,000 −19% reduced BX BLACKSTONE INC Financial Services 5.1% $3.7m 130,000 −16% reduced MIC2EUR MACQUARIE INFRASTRUCTURE COR – 4.5% $3.3m 235,000 – new UNIQURE NV no ticker – 4.5% $3.3m 127,500 −29% reduced LEGH LEGACY HOUSING CORP – 3.4% $2.4m 404,216 +32% added SSNC SS&C TECHNOLOGIES HLDGS INC Technology 3.1% $2.3m 124,112 +27% added QNST QUINSTREET INC Communication Services 2.9% $2.1m 487,530 – new APTOSE BIOSCIENCES INC no ticker – 2.6% $1.8m 510,000 +67% added COLD AMERICOLD REALTY TRUST INC Real Estate 2.5% $1.8m 125,000 – new GRWG GROWGENERATION CORP Consumer Cyclical 2.3% $1.7m 460,658 – new AX AXOS FINANCIAL INC Financial Services 1.6% $1.2m 130,000 −28% reduced CELH CELSIUS HLDGS INC Consumer Defensive 1.4% $997k 275,000 +35% added TGT TARGET CORP Consumer Defensive 1.3% $935k 15,000 +200% added MCFT MASTERCRAFT BOAT HLDGS INC Consumer Cyclical 1.1% $757k 157,960 +126% added CUE CUE BIOPHARMA INC – 1.0% $749k 88,670 −4.1% reduced INBK FIRST INTERNET BANCORP – 1.0% $707k 90,000 −43% reduced CLDNEUR EIGER BIOPHARMACEUTICALS INC – 0.8% $593k 115,487 – new GLMD GALMED PHARMACEUTICALS LTD – 0.4% $319k 159,454 +5.9% added TGNA TEGNA INC – 0.4% $287k 40,317 – new PIRSEUR PIERIS PHARMACEUTICALS INC – 0.3% $245k 155,000 +3.3% added EQT EQT CORPORATION Energy 0.2% $177k 25,000 – new LSAK LESAKA TECHNOLOGIES INC Technology 0.2% $120k 120,000 −61% reduced HNRG HALLADOR ENERGY COMPANY Utilities 0.09% $64.0k 67,874 – new ACHC ACADIA HEALTHCARE COMPANY IN Healthcare 0.05% $38.0k 37,500 −46% reduced SFES SAFEGUARD SCIENTIFICS INC Financial Services 0.04% $32.0k 31,680 −78% reduced CEIXEUR CONSOL ENERGY INC NEW – 0.04% $28.0k 17,341 −61% reduced MS MORGAN STANLEY Financial Services 0.03% $20.0k 20,000 −43% reduced SXC SUNCOKE ENERGY INC Basic Materials 0.03% $20.0k 20,000 −60% reduced VRSUSD VERSO CORP – 0.03% $20.0k 20,000 −89% reduced BNEDUSD BARNES & NOBLE ED INC – 0.02% $18.0k 13,069 – new EAFEUR GRAFTECH INTL LTD – 0.01% $10.0k 10,000 −89% reduced JACK JACK IN THE BOX INC Consumer Cyclical 0.01% $10.0k 10,000 – new PLAY DAVE & BUSTERS ENTMT INC Communication Services 0.01% $5.0k 5,100 – new
Exited since Q4 2019 Sector mix Unclassified 63.0% Financial Services 12.7% Technology 12.4% Consumer Cyclical 3.4% Communication Services 2.9% Consumer Defensive 2.7% Real Estate 2.5% Energy 0.2% Utilities 0.09% Healthcare 0.05% Basic Materials 0.03% Book over time Every quarter on file (27) Where Voss Capital, LP was early Concentration and tenure
11.5% Median largest position, all quarters The largest single position as a share of the reported equity book.
64.2% 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