STONEHILL CAPITAL MANAGEMENT LLC
Long book
$197.3M
Q1 2026
Positions
15
Top-10 weight
98%
concentration
Last quarter
+1.0%
SPY +14.8%
Turnover
50%
of book per quarter
Strategy in plain words
auto-generated from filingsSTONEHILL CAPITAL MANAGEMENT LLC is a concentrated fundamental stock-picker, running a $197.3M US long book across 15 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ECHOSTAR CORP-A, USA TODAY CO INC, MANPOWERGROUP INC, MASTERBRAND INC, HOLOGIC INC.
Over the last 9 quarters its long book ran on average 4.5pp per quarter ahead of the S&P 500, beating the index in 7 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+8.2%
Q2 2024
+22.1%
Q3 2024
-0.7%
Q4 2024
+9.9%
Q1 2025
+17.6%
Q2 2025
+16.5%
Q3 2025
+10.3%
Q4 2025
-3.8%
Q1 2026
+1.0%
Sector allocation
Communications 52%
Other 28%
Services media 14%
Utilities 5%
Long book by quarter
What does STONEHILL CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ECHO ECHOSTAR CORP-A | Communications | 831.5K | $97.3M | 49.3% | Held |
| TDAY USA TODAY CO INC | Other | 3.0M | $21.0M | 10.7% | +100.1% |
| MAN MANPOWERGROUP INC | Services media | 539.2K | $15.9M | 8.1% | +70.3% |
| MBC MASTERBRAND INC | Other | 1.5M | $12.1M | 6.1% | -18.2% |
| HO1 HOLOGIC INC | — | 153.3K | $11.6M | 5.9% | New |
| RHI ROBERT HALF INC | Services media | 405.8K | $10.3M | 5.2% | +17.6% |
| CDZI CADIZ INC | Utilities | 1.9M | $9.6M | 4.8% | +487.2% |
| AHQ AMERICAN WOODMARK CORP | — | 211.0K | $8.4M | 4.3% | -9.2% |
| NFE NEW FORTRESS ENERGY INC | Utilities | 788.8K | $465K | 0.2% | +69.6% |
| SEAT VIVID SEATS INC - CLASS A | Services media | 26.7K | $158K | 0.1% | -58.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 15 | $197.3M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 22 | $333.8M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 15 | $280.4M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 14 | $228.2M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 12 | $328.0M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 10 | $236.4M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 11 | $166.9M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 10 | $133.7M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 6 | $44.6M | $K fixed canonical | SEC ↗ |
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