INHERENT GROUP, LP
Follow13F filer, CIK 1749824, NEW YORK, NY
INHERENT GROUP, LP reported $882,398,876 across 35 holdings for the quarter ended 2023-03-31, in a 13F-HR filed 2023-05-15. Its ten largest share positions make up 91.25% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001405086-23-000134
- Period
- 2023-03-31
- Reported value
- $882M
- Holdings
- 35
- Top 10 weight
- 91.25%
- New
- 18
- Sold out
- 7
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| FISnew | +320,688 | $17.4M |
| FCNCAnew | +4,306 | $4.19M |
| UNPnew | +13,900 | $2.8M |
| VSTadded | +29,876 | $717K |
| SGnew | +14,100 | $111K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| VCSHexited | -830,700 | -$62.5M |
| ARCO PLATFORM LTDexited | -230,476 | -$3.11M |
| PCTexited | -22,788 | -$154K |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Holdings, Q1 2023
Share positions as resolved from 13F-HR 0001405086-23-000134, largest first. % of portfolio is the value over $239,624,414, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| OECORION S.A. | 2,741,655 | $71.5M | 29.85% | 0 | Timeline | ||
| MR COOPER GROUP INCMR COOPER GROUP INC | 731,136 | $30M | 12.5% | 0 | |||
| FISFIDELITY NATL INFORMATION SV | 320,688 | $17.4M | 7.27% | new | Timeline | ||
| VSTVISTRA CORP | 496,701 | $11.9M | 4.97% | +29,876 | Timeline | ||
| IEMGISHARES INC | 213,405 | $10.4M | 4.35% | 0 | Timeline | ||
| STEPSTEPSTONE GROUP INC | 216,771 | $5.26M | 2.2% | 0 | Timeline | ||
| FCNCAFIRST CTZNS BANCSHARES INC D | 4,306 | $4.19M | 1.75% | new | Timeline | ||
| ALLYALLY FINL INC | 118,890 | $3.03M | 1.26% | 0 | Timeline | ||
| UNPUNION PAC CORP | 13,900 | $2.8M | 1.17% | new | Timeline | ||
| GROVE COLLABORATIVE HOLD INCGROVE COLLABORATIVE HOLD INC | 2,006,556 | $879K | 0.37% | 0 | |||
| VITLVITAL FARMS INC | 33,919 | $519K | 0.22% | 0 | Timeline | ||
| QSQUANTUMSCAPE CORP | 20,849 | $171K | 0.07% | 0 | Timeline | ||
| SGSWEETGREEN INC | 14,100 | $111K | 0.05% | new | Timeline |
Options
Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| QQQINVESCO QQQ TR COM | put | 500,000 | $160M | new |
| HYGISHARES TR IBOXX HI YD ETF | put | 1,800,000 | $136M | +750,000 |
| SPYSTATE STR SPDR S&P 500 ETF T SHS | put | 275,000 | $113M | +250,000 |
| XLISELECT SECTOR SPDR TR INDL | put | 700,000 | $70.8M | new |
| XLFSELECT SECTOR SPDR TR SHS | put | 2,000,000 | $64.3M | new |
| LQDISHARES TR SHS | put | 300,000 | $32.9M | new |
| IWMISHARES TR SHS | call | 100,000 | $17.8M | new |
| ALLYALLY FINL INC Stock | put | 450,000 | $11.5M | new |
| ABNBAIRBNB INC COM | put | 75,000 | $9.33M | new |
| AALAMERICAN AIRLINES GROUP INC Stock | put | 398,600 | $5.88M | +98,600 |
| ETSYETSY INC COM | call | 50,000 | $5.57M | +25,000 |
| RIVNRIVIAN AUTOMOTIVE INC Stock | put | 350,000 | $5.42M | new |
| BXPBXP INC REIT | put | 75,000 | $4.06M | new |
| SCHWCHARLES SCHWAB CORP (THE) COM | call | 75,000 | $3.93M | new |
| BBIOBRIDGEBIO PHARMA INC COM | put | 118,900 | $1.97M | new |
| LUMNLUMEN TECHNOLOGIES INC COM | put | 100,000 | $265K | new |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| CAZOO GROUP LTDCAZOO GROUP LTD DEBT 2.000% 2/1 | principal | 50,000,000 | $24.9M | 0 |
| BRIDGEBIO PHARMA INCBRIDGEBIO PHARMA INC Convertible | principal | 31,250,000 | $20M | -8,250,000 |
| AFFIRM HLDGS INCAFFIRM HLDGS INC NOTE 11/1 | principal | 20,500,000 | $13.3M | new |
| WAYFAIR INCWAYFAIR INC NOTE 0.625%10/0 | principal | 17,000,000 | $12.3M | new |
| OAK STR HEALTH INCOAK STR HEALTH INC BOND | principal | 7,000,000 | $6.89M | -11,000,000 |
| LIBERTY LATIN AMERICA LTDLIBERTY LATIN AMERICA LTD BOND | principal | 4,320,000 | $4.02M | 0 |
Sold out in Q1 2023
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| VCSHVANGUARD SCOTTSDALE FDS | 830,700 | $62.5M | shares |
| ARCO PLATFORM LTDARCO PLATFORM LTD | 230,476 | $3.11M | shares |
| KRESPDR SERIES TRUST | 50,000 | $2.94M | put |
| WRBYWARBY PARKER INC | 200,000 | $2.7M | call |
| SHAKE SHACK INCSHAKE SHACK INC | 3,000,000 | $2.03M | principal |
| PTONPELOTON INTERACTIVE INC | 150,000 | $1.19M | call |
| PCTPURECYCLE TECHNOLOGIES INC | 22,788 | $154K | shares |
How Q1 2023 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001405086-23-000134 | base | 2023-05-15 | acceptance time not in the bulk data set |