Q1 2026 · 13F-HR
Sand Grove Capital Management LLPholdings as filed
Filed 2026-05-15 · accession 0001665077-26-000011
$444.2M
Reported value
19
Positions
2026-03-31
Period end
The Brief · Sand Grove Capital Management LLP · Q1 2026
AI · grounded in 13F
Sand Grove Capital Management LLP established a new position in WBS worth $39.3M. The fund also opened new stakes in TWO HARBORS INVENTMENT CORPO for $35.3M and AAUC for $35.1M. To fund these moves, the manager closed several positions, including HO1 for $28.2M and DVAX for $23.5M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $39.7M | 8.94% | 1,446,807 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINL CORP | $39.3M | 8.84% | 565,786 | Common | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $38.7M | 8.71% | 662,081 | Common | SOLE |
| 90187B804 | TWO | TWO HARBORS INVENTMENT CORPO | $35.3M | 7.96% | 3,094,787 | Common | SOLE |
| 01921D204 | AAUC | ALLIED GOLD CORP | $35.1M | 7.91% | 1,135,486 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $30.0M | 6.76% | 104,633 | Common | SOLE |
| 285512109 | EA | ELECTRONIC ARTS INC | $29.5M | 6.64% | 144,726 | Common | SOLE |
| 70975L107 | PEN | PENUMBRA INC | $28.5M | 6.41% | 86,758 | Common | SOLE |
| G4701H109 | IHS | IHS HOLDING LIMITED | $28.2M | 6.34% | 3,422,706 | Common | SOLE |
| 00130H105 | AES | AES CORP | $24.5M | 5.51% | 1,737,102 | Common | SOLE |
| 826919102 | SLAB | SILICON LABORATORIES INC | $23.4M | 5.27% | 112,365 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $22.0M | 4.96% | 930,959 | Common | SOLE |
| G9460G101 | VAL | VALARIS LTD | $17.0M | 3.84% | 173,830 | Common | SOLE |
| 880881907 | — | TERNS PHARMACEUTICALS INC | $16.7M | 3.75% | 316,100 | CALL | SOLE |
| 390607109 | GLDD | GREAT LAKES DREDGE & DOCK CO | $15.2M | 3.42% | 893,190 | Common | SOLE |
| 25179M103 | DVN | DEVON ENERGY CORP NEW | $6.3M | 1.43% | 125,960 | Common | SOLE |
| 127097103 | CTRA | COTERRA ENERGY INC | $6.3M | 1.43% | 180,208 | Common | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $4.3M | 0.97% | 82,000 | Common | SOLE |
| 29332G102 | EHABUSD | ENHABIT INC | $4.1M | 0.92% | 289,157 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.