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Disclosery

SAB CAPITAL MANAGEMENT LP

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13F filer, CIK 1359894, NEW YORK, NY

SAB CAPITAL MANAGEMENT LP reported $1,024,152,000 across 22 holdings for the quarter ended 2015-03-31, in a 13F-HR filed 2015-05-14. Its ten largest share positions make up 91.02% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001140361-15-019699

Period
2015-03-31
Reported value
$1.02B
Holdings
22
Top 10 weight
91.02%
New
12
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CFGnew+6,500,000$157M
ENDURANCE INTL GROUP HLDGS Inew+2,000,000$38.1M
TRAVELPORT WORLDWIDE LTDnew+1,748,382$29.2M
NATIONSTAR MORTGAGE HOLDINGSnew+1,000,000$24.8M
LENDINGCLUB CORPadded+825,256$16.2M

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

SecurityShares changeApprox. value
HERTZ GLOBAL HLDGS INC Nexited-7,511,803-$187M
CARexited-2,226,064-$148M
IAC INTERACTIVECORPexited-2,044,807-$124M
SPRreduced-1,857,202-$97M
IWMexited-583,500-$69.8M

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 2015

Share positions as resolved from 13F-HR 0001140361-15-019699, largest first. % of portfolio is the value over $1,007,364,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CFGCITIZENS FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 6,500,000 shares 6,500,000$157M15.57%newTimeline
COLONY CAP INCCOLONY CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: 9,000,000 shares; 2014Q4: 6,060,980 shares; 2015Q1: 5,304,753 shares 5,304,753$137M13.65%-756,227
LNGCHENIERE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: 2,682,510 shares; 2014Q3: 2,486,336 shares; 2014Q4: 2,329,879 shares; 2015Q1: 1,745,238 shares 1,745,238$135M13.41%-584,641Timeline
SPRSPIRIT AEROSYSTEMS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: 5,820,373 shares; 2014Q3: 4,408,327 shares; 2014Q4: 3,857,202 shares; 2015Q1: 2,000,000 shares 2,000,000$104M10.37%-1,857,202Timeline
ON DECK CAP INCON DECK CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: 4,001,234 shares; 2015Q1: 4,537,762 shares 4,537,762$96.6M9.59%+536,528
ALTISOURCE RESIDENTIAL CORPALTISOURCE RESIDENTIAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: 4,990,427 shares; 2014Q3: 4,990,427 shares; 2014Q4: 4,528,385 shares; 2015Q1: 4,172,151 shares 4,172,151$87M8.64%-356,234
CRTOCRITEO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: 1,764,694 shares; 2014Q4: 1,801,562 shares; 2015Q1: 2,188,210 shares 2,188,210$86.4M8.58%+386,648Timeline
LENDINGCLUB CORPLENDINGCLUB CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: 1,500,000 shares; 2015Q1: 2,325,256 shares 2,325,256$45.7M4.54%+825,256
ENDURANCE INTL GROUP HLDGS IENDURANCE INTL GROUP HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 2,000,000 shares 2,000,000$38.1M3.78%new
TRAVELPORT WORLDWIDE LTDTRAVELPORT WORLDWIDE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 1,748,382 shares 1,748,382$29.2M2.9%new
ALTISOURCE ASSET MGMT CORPALTISOURCE ASSET MGMT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: 219,298 shares; 2014Q3: 190,717 shares; 2014Q4: 167,096 shares; 2015Q1: 148,785 shares 148,785$27.5M2.73%-18,311
NATIONSTAR MORTGAGE HOLDINGSNATIONSTAR MORTGAGE HOLDINGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 1,000,000 shares 1,000,000$24.8M2.46%new
FAMOUS DAVE'S OF AMERICAFAMOUS DAVE'S OF AMERICAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: 634,105 shares; 2014Q3: 689,873 shares; 2014Q4: 699,606 shares; 2015Q1: 696,706 shares 696,706$19.9M1.97%-2,900
DVAXDYNAVAX TECHNOLOGIES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 618,607 shares 618,607$13.9M1.38%newTimeline
TUBEMOGUL INC COMTUBEMOGUL INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 161,248 shares 161,248$2.23M0.22%new
RITEAID CORPRITEAID CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: not reported; 2014Q3: not reported; 2014Q4: not reported; 2015Q1: 150,000 shares 150,000$1.3M0.13%new
PFSWEB INCPFSWEB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2013Q2: restricted; 2013Q3: restricted; 2013Q4: restricted; 2014Q1: restricted; 2014Q2: 78,084 shares; 2014Q3: 78,084 shares; 2014Q4: 78,084 shares; 2015Q1: 78,084 shares 78,084$858K0.09%0

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).

SecurityTypeAmountValueChange
REYNOLDS AMERICAN INCREYNOLDS AMERICAN INC COMMON STOCKcall100,000$6.89Mnew
STARWOOD HOTELS&RESORTS WRLDSTARWOOD HOTELS&RESORTS WRLD COMcall50,000$4.17Mnew
SPDR SERIES TRUSTSPDR SERIES TRUST S&P OILGAS EXPput50,000$2.58Mnew
FCXFREEPORT MCMORAN INC Stockput100,000$1.9Mnew
IWMISHARES TR SHSput10,000$1.24Mnew

Sold out in Q1 2015

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HERTZ GLOBAL HLDGS INC NHERTZ GLOBAL HLDGS INC N7,511,803$187Mshares
CARAVIS BUDGET GROUP INC2,226,064$148Mshares
IAC INTERACTIVECORPIAC INTERACTIVECORP2,044,807$124Mshares
IWMISHARES TR583,500$69.8Mshares
MUMICRON TECHNOLOGY INC1,711,947$59.9Mshares
ABGASBURY AUTOMOTIVE GROUP INC489,182$37.1Mshares
SHELL MIDSTREAM PARTNERS L PSHELL MIDSTREAM PARTNERS L P254,479$10.4Mshares
ANTERO MIDSTREAM LPANTERO MIDSTREAM LP303,296$8.34Mshares

How Q1 2015 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).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001140361-15-019699 base2015-05-14acceptance time not in the bulk data set