SAB CAPITAL MANAGEMENT LP
Follow13F filer, CIK 1359894, NEW YORK, NY
SAB CAPITAL MANAGEMENT LP reported $994,853,000 across 30 holdings for the quarter ended 2015-06-30, in a 13F-HR filed 2015-08-14. Its ten largest share positions make up 88.6% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001140361-15-032289
- Period
- 2015-06-30
- Reported value
- $995M
- Holdings
- 30
- Top 10 weight
- 88.6%
- New
- 21
- Sold out
- 13
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| AERnew | +2,984,170 | $137M |
| RITMnew | +7,974,691 | $122M |
| Mnew | +1,062,672 | $71.7M |
| MICHAEL KORS HLDGS LTDnew | +1,140,279 | $48M |
| SABRnew | +2,000,000 | $47.6M |
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 |
|---|---|---|
| CFGexited | -6,500,000 | -$157M |
| SPRexited | -2,000,000 | -$104M |
| CRTOexited | -2,188,210 | -$86.4M |
| ALTISOURCE RESIDENTIAL CORPreduced | -2,266,581 | -$38.2M |
| ENDURANCE INTL GROUP HLDGS Iexited | -2,000,000 | -$38.1M |
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, Q2 2015
Share positions as resolved from 13F-HR 0001140361-15-032289, largest first. % of portfolio is the value over $896,700,000, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| AERAERCAP HOLDINGS NV | 2,984,170 | $137M | 15.24% | new | Timeline | ||
| LNGCHENIERE ENERGY INC | 1,795,113 | $124M | 13.87% | +49,875 | Timeline | ||
| RITMRITHM CAPITAL CORP | 7,974,691 | $122M | 13.55% | new | Timeline | ||
| COLONY CAP INCCOLONY CAP INC | 5,304,753 | $120M | 13.4% | 0 | |||
| MMACYS INC | 1,062,672 | $71.7M | 8% | new | Timeline | ||
| ON DECK CAP INCON DECK CAP INC | 4,681,941 | $54.2M | 6.05% | +144,179 | |||
| MICHAEL KORS HLDGS LTDMICHAEL KORS HLDGS LTD | 1,140,279 | $48M | 5.35% | new | |||
| SABRSABRE CORP | 2,000,000 | $47.6M | 5.31% | new | Timeline | ||
| TRAVELPORT WORLDWIDE LTDTRAVELPORT WORLDWIDE LTD | 2,769,737 | $38.2M | 4.26% | +1,021,355 | |||
| ALTISOURCE RESIDENTIAL CORPALTISOURCE RESIDENTIAL CORP | 1,905,570 | $32.1M | 3.58% | -2,266,581 | |||
| CANADIAN PACIFIC RAILWAYSCANADIAN PACIFIC RAILWAYS | 125,000 | $20M | 2.23% | new | |||
| PWRQUANTA SVCS INC | 641,600 | $18.5M | 2.06% | new | Timeline | ||
| LENDINGCLUB CORPLENDINGCLUB CORP | 983,197 | $14.5M | 1.62% | -1,342,059 | |||
| DVAXDYNAVAX TECHNOLOGIES CORP | 618,607 | $14.5M | 1.62% | 0 | Timeline | ||
| MTZMASTEC INC | 674,469 | $13.4M | 1.49% | new | Timeline | ||
| FAMOUS DAVE'S OF AMERICAFAMOUS DAVE'S OF AMERICA | 549,706 | $11M | 1.23% | -147,000 | |||
| ELONG - ADRELONG - ADR | 314,933 | $5.33M | 0.59% | new | |||
| UNIVAR INCUNIVAR INC | 150,000 | $3.9M | 0.44% | new | |||
| PFSWEB INCPFSWEB INC | 78,084 | $1.08M | 0.12% | 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).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| TYCO INTL PLCTYCO INTL PLC SHS | call | 480,000 | $18.5M | new |
| XBISPDR SERIES TRUST S&P BIOTECH | put | 65,000 | $16.4M | new |
| VZVERIZON COMMUNICATIONS INC COM | call | 300,000 | $14M | new |
| AIGAMERICAN INTL GROUP INC Stock | call | 150,000 | $9.27M | new |
| CAGCONAGRA BRANDS INC COM | call | 200,000 | $8.74M | new |
| ETNEATON CORP PLC COM | call | 100,000 | $6.75M | new |
| MMACYS INC Stock | call | 100,000 | $6.75M | new |
| CSXCSX CORP COM | call | 200,000 | $6.53M | new |
| O-I GLASS, INC.O-I GLASS, INC. COM | call | 200,000 | $4.59M | new |
| NSCNORFOLK SOUTHN CORP Stock | call | 50,000 | $4.37M | new |
| FXIISHARES TR CHINA LG-CAP ETF | put | 50,000 | $2.31M | new |
Sold out in Q2 2015
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| CFGCITIZENS FINL GROUP INC | 6,500,000 | $157M | shares |
| SPRSPIRIT AEROSYSTEMS HLDGS INC | 2,000,000 | $104M | shares |
| CRTOCRITEO S A | 2,188,210 | $86.4M | shares |
| ENDURANCE INTL GROUP HLDGS IENDURANCE INTL GROUP HLDGS I | 2,000,000 | $38.1M | shares |
| ALTISOURCE ASSET MGMT CORPALTISOURCE ASSET MGMT CORP | 148,785 | $27.5M | shares |
| NATIONSTAR MORTGAGE HOLDINGSNATIONSTAR MORTGAGE HOLDINGS | 1,000,000 | $24.8M | shares |
| REYNOLDS AMERICAN INCREYNOLDS AMERICAN INC | 100,000 | $6.89M | call |
| STARWOOD HOTELS&RESORTS WRLDSTARWOOD HOTELS&RESORTS WRLD | 50,000 | $4.17M | call |
| SPDR SERIES TRUSTSPDR SERIES TRUST | 50,000 | $2.58M | put |
| TUBEMOGUL INC COMTUBEMOGUL INC COM | 161,248 | $2.23M | shares |
| FCXFREEPORT MCMORAN INC | 100,000 | $1.9M | put |
| RITEAID CORPRITEAID CORP | 150,000 | $1.3M | shares |
| IWMISHARES TR | 10,000 | $1.24M | put |
How Q2 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).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001140361-15-032289 | base | 2015-08-14 | acceptance time not in the bulk data set |