PPM AMERICA INC/IL

Other Low signal CIK 898417
Long book
$16.6M
Q1 2026
Positions
5
Top-10 weight
100%
concentration
Last quarter
+3.3%
SPY +14.8%
Turnover
20%
of book per quarter

Strategy in plain words

auto-generated from filings

PPM AMERICA INC/IL is an institutional manager, running a $16.6M US long book across 5 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: ISHARES BROAD USD HIGH YIELD, MPLX LP, SANGOMA TECHNOLOGIES CORP, CLEAR CHANNEL OUTDOOR HOLDIN, IHEARTMEDIA INC - CLASS A.

Over the last 9 quarters its long book ran on average 2.1pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-1.3%
Q2 2024
+11.0%
Q3 2024
+13.7%
Q4 2024
-14.4%
Q1 2025
+9.3%
Q2 2025
-2.2%
Q3 2025
+8.4%
Q4 2025
-6.0%
Q1 2026
+3.3%

Sector allocation

Energy
49%
Technology
26%
Services media
17%
Communications
9%

Long book by quarter

$15.0M
Q1 2024
$11.3M
Q2 2024
$11.1M
Q3 2024
$10.7M
Q4 2024
$14.0M
Q1 2025
$10.0M
Q2 2025
$18.6M
Q3 2025
$10.9M
Q4 2025
$16.6M
Q1 2026

What does PPM AMERICA own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
MPLX MPLX LPEnergy87.2K$5.0M30.0%Held
SANG SANGOMA TECHNOLOGIES CORPTechnology688.5K$2.6M15.7%Held
CCO CLEAR CHANNEL OUTDOOR HOLDINServices media705.6K$1.7M10.1%Held
IHRT IHEARTMEDIA INC - CLASS ACommunications296.6K$866K5.2%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 12, 20265$16.6M canonicalSEC ↗
Q4 202513F-HRFeb 11, 20264$10.9M canonicalSEC ↗
Q3 202513F-HRNov 12, 20256$18.6M canonicalSEC ↗
Q2 202513F-HRAug 11, 20254$10.0M canonicalSEC ↗
Q1 202513F-HRMay 12, 20255$14.0M canonicalSEC ↗
Q4 202413F-HRFeb 11, 20255$10.7M canonicalSEC ↗
Q3 202413F-HRNov 12, 20245$11.1M canonicalSEC ↗
Q2 202413F-HRAug 12, 20246$11.3M canonicalSEC ↗
Q1 202413F-HRMay 9, 202410$15.0M canonicalSEC ↗

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