Funds › Voss Capital, LP › Q2 2020Voss Capital, LP 13F holdings, Q2 2020 Voss Capital, LP disclosed 41 US equity positions worth $149.6m in its Q2 2020 13F filing. Its largest position is BENEFYTT TECHNOLOGIES INC at 12.8% of the reported book, followed by RST and PAR. Versus Q1 2020 it opened 17 new positions, added to 7, reduced 17 and exited 13.
$150m Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
41 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
12.8% Largest position The largest single position as a share of the reported equity book.
69.2% Top 10 weight The ten largest positions together, as a share of the reported equity book.
15 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 Q1 2020: 17 new , 7 added , 17 reduced , 13 exited
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Stock Sector Weight Value Shares Δ shares Action BENEFYTT TECHNOLOGIES INC no ticker – 12.8% $19.2m 936,323 −16% reduced RST ROSETTA STONE INC – 12.7% $19.1m 1.13m −22% reduced PAR PAR TECHNOLOGY CORP Technology 11.9% $17.9m 596,851 −32% reduced RMNI RIMINI STR INC DEL – 8.1% $12.1m 2.34m +12% added LGIH LGI HOMES INC Consumer Cyclical 4.9% $7.3m 83,065 – new FNF FIDELITY NATIONAL FINANCIAL Financial Services 4.1% $6.1m 199,778 – new KKR KKR & CO INC Financial Services 4.0% $6.0m 195,000 −34% reduced LEGH LEGACY HOUSING CORP – 3.9% $5.8m 409,647 +1.3% added COLD AMERICOLD REALTY TRUST INC Real Estate 3.4% $5.1m 140,000 +12% added ASR GRUPO AEROPORTUARIO DEL SURE Industrials 3.3% $5.0m 44,512 – new GPI GROUP 1 AUTOMOTIVE INC Consumer Cyclical 3.0% $4.5m 68,639 – new BX BLACKSTONE INC Financial Services 2.4% $3.5m 62,500 −52% reduced CC CHEMOURS CO Basic Materials 2.3% $3.5m 225,000 – new UNIQURE NV no ticker – 2.1% $3.2m 70,000 −45% reduced SSNC SS&C TECHNOLOGIES HLDGS INC Technology 1.9% $2.8m 50,000 −60% reduced APTOSE BIOSCIENCES INC no ticker – 1.7% $2.6m 405,000 −21% reduced CTT1USD CATCHMARK TIMBER TR INC – 1.6% $2.4m 268,111 – new EHTH EHEALTH INC Financial Services 1.5% $2.2m 22,127 – new MIC2EUR MACQUARIE INFRASTRUCTURE COR – 1.3% $2.0m 65,400 −72% reduced CCS CENTURY CMNTYS INC Real Estate 1.3% $2.0m 65,000 – new INBK FIRST INTERNET BANCORP – 1.1% $1.6m 98,800 +9.8% added GRWG GROWGENERATION CORP Consumer Cyclical 1.1% $1.6m 234,850 −49% reduced CELH CELSIUS HLDGS INC Consumer Defensive 1.0% $1.6m 132,500 −52% reduced EZPW EZCORP INC Financial Services 0.9% $1.4m 225,000 – new CLDNEUR EIGER BIOPHARMACEUTICALS INC – 0.9% $1.3m 133,900 +16% added PAC GRUPO AEROPORTUNARIO DEL PAC Industrials 0.8% $1.2m 16,407 – new IOVA IOVANCE BIOTHERAPEUTICS INC Healthcare 0.7% $1.1m 40,000 – new CUE CUE BIOPHARMA INC – 0.7% $1.0m 42,800 −52% reduced SYF SYNCHRONY FINANCIAL Financial Services 0.7% $997k 45,000 – new OMAB GRUPO AEROPORTUARIO DEL CENT Industrials 0.6% $941k 25,328 – new MTG MGIC INVT CORP WIS Financial Services 0.5% $778k 95,000 – new RESIEUR FRONT YD RESIDENTIAL CORP – 0.5% $696k 80,000 – new GLMD GALMED PHARMACEUTICALS LTD – 0.4% $640k 133,900 −16% reduced ABG ASBURY AUTOMOTIVE GROUP INC Consumer Cyclical 0.4% $533k 6,893 – new QNST QUINSTREET INC Communication Services 0.4% $532k 50,900 −90% reduced PIRSEUR PIERIS PHARMACEUTICALS INC – 0.3% $387k 124,700 −20% reduced AX AXOS FINANCIAL INC Financial Services 0.2% $331k 15,000 −88% reduced SXC SUNCOKE ENERGY INC Basic Materials 0.2% $296k 100,000 +400% added CONTURA ENERGY INC no ticker – 0.2% $237k 77,900 – new CEIXEUR CONSOL ENERGY INC NEW – 0.2% $228k 45,000 +160% added HNRG HALLADOR ENERGY COMPANY Utilities 0.02% $33.0k 50,000 −26% reduced
Exited since Q1 2020 Sector mix Unclassified 48.4% Financial Services 14.3% Technology 13.8% Consumer Cyclical 9.3% Industrials 4.8% Real Estate 4.7% Basic Materials 2.5% Consumer Defensive 1.0% Healthcare 0.7% Communication Services 0.4% Utilities 0.02% 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