Springhouse Capital Management, L.P. 13F annual report

Springhouse Capital Management, L.P. is an investment fund managing more than $188 million ran by Brian Gaines. There are currently 51 companies in Mr. Gaines’s portfolio. The largest investments include Pershing Square Tontine Hldg and Global Indemnity, together worth $33.7 million.

Limited to 30 biggest holdings

$188 million Assets Under Management (AUM)

As of 8th August 2022, Springhouse Capital Management, L.P.’s top holding is 1,013,439 shares of Pershing Square Tontine Hldg currently worth over $20.2 million and making up 10.8% of the portfolio value. In addition, the fund holds 521,109 shares of Global Indemnity worth $13.5 million, whose value fell 6.1% in the past six months. The third-largest holding is Alphabet Inc worth $17.1 million and the next is Far Peak Acquisition Corp worth $11.9 million, with 1,209,030 shares owned.

Currently, Springhouse Capital Management, L.P.'s portfolio is worth at least $188 million. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Springhouse Capital Management, L.P.

The Springhouse Capital Management, L.P. office and employees reside in Westport, Connecticut. According to the last 13-F report filed with the SEC, Brian Gaines serves as the Chief Compliance Officer at Springhouse Capital Management, L.P..

Recent trades

In the most recent 13F filing, Springhouse Capital Management, L.P. revealed that it had opened a new position in Far Peak Acquisition Corp and bought 1,209,030 shares worth $11.9 million. This means they effectively own approximately 0.1% of the company. Far Peak Acquisition Corp makes up 25.1% of the fund's Finance sector allocation and has decreased its share price by approximately 0.1% in the past year.

The investment fund also strengthened its position in Pershing Square Tontine Hldg by buying 456,613 additional shares. This makes their stake in Pershing Square Tontine Hldg total 1,013,439 shares worth $20.2 million.

On the other hand, there are companies that Springhouse Capital Management, L.P. is getting rid of from its portfolio. Springhouse Capital Management, L.P. closed its position in Sports Entertainment Acqu Co on 15th August 2022. It sold the previously owned 1,666,279 shares for $16.5 million. Brian Gaines also disclosed a decreased stake in Global Indemnity by 0.3%. This leaves the value of the investment at $13.5 million and 521,109 shares.

One of the smallest hedge funds

The two most similar investment funds to Springhouse Capital Management, L.P. are Fountainhead Am and Lumina Fund Management. They manage $188 million and $188 million respectively.


Brian Gaines investment strategy

Springhouse Capital Management, L.P.’s portfolio is diversified across 7 sectors. Currently, their heaviest sector is Finance — making up 25.2% of the total portfolio value. The fund focuses on investments in the United States as 39.2% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 18% of the total holdings value. On the other hand, small-cap stocks make up only 2.0% of the portfolio. The average market cap of the portfolio companies is close to $45.4 billion.

The complete list of Springhouse Capital Management, L.P. trades based on 13F SEC filings

These positions were updated on August 15th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Pershing Square Tontine Hldg
82.00%
1,013,439
$20,238,000 10.78%
Sports Entertainment Acqu Co
Closed
1,666,279
$16,529,000
Global Indemnity Group, LLC
30.11%
521,109
$13,481,000 7.18%
Alphabet Inc
12.20%
7,820
$17,061,000 9.09%
Far Peak Acquisition Corp
Opened
1,209,030
$11,873,000 6.32%
Fintech Acquisition Corp V
87.49%
1,078,444
$10,623,000 5.66%
G Willi Food Intl Ltd
1.70%
658,323
$10,369,000 5.52%
Altimeter Growth Corp. 2
Opened
818,261
$8,068,000 4.30%
Horizon Acquisition Corporat
Opened
805,934
$7,987,000 4.25%
Bright Lights Acquisition Corp.
Opened
643,381
$6,331,000 3.37%
Gap, Inc.
Closed
317,000
$5,595,000
Health Assurn Acquisition Co
Opened
549,235
$5,426,000 2.89%
Conx Corp
Opened
530,107
$5,240,000 2.79%
Twitter Inc
177.50%
138,750
$5,188,000 2.76%
B Riley Principal 150 Merger
Opened
515,022
$5,130,000 2.73%
Citigroup Inc
411.12%
106,297
$4,889,000 2.60%
Tufin Software Technologie
Opened
361,106
$4,535,000 2.42%
Pine Is Acquisition Corp
Opened
407,100
$4,018,000 2.14%
Spirit Airls Inc
Opened
152,834
$3,644,000 1.94%
Expedia Group Inc
Opened
34,000
$3,224,000 1.72%
E Merge Technology Acquisiti
Opened
314,900
$3,146,000 1.68%
Credit Suisse Group
16.16%
518,962
$2,943,000 1.57%
Northern Star Invstmnt Corp
22.54%
289,919
$2,847,000 1.52%
Social Capital Hedosopha Hld
Opened
241,200
$2,395,000 1.28%
Calumet Specialty Prods Part
No change
209,139
$2,173,000 1.16%
Meta Platforms Inc
43.48%
13,000
$2,096,000 1.12%
Vipshop Holdings Limited
No change
205,075
$2,028,000 1.08%
Alibaba Group Hldg Ltd
No change
17,000
$1,933,000 1.03%
Amazon.com Inc.
1,055.84%
17,800
$1,891,000 1.01%
Baidu Inc
No change
12,600
$1,874,000 1.00%
Burford Cap Ltd
3.32%
158,812
$1,602,000 0.85%
Vy Global Growth
Opened
123,200
$1,219,000 0.65%
A K A Brands Hldg Corp
Opened
440,254
$1,215,000 0.65%
Nordstrom, Inc.
Closed
53,500
$1,210,000
Poshmark, Inc.
Opened
117,086
$1,184,000 0.63%
Tpg Pace Ben Fin Corp
Opened
113,928
$1,129,000 0.60%
Netflix Inc.
Opened
6,200
$1,084,000 0.58%
Cc Neuberger Prin Hldgs Ii
Opened
99,000
$989,000 0.53%
Liberty Media Acquisition Co
Opened
97,500
$959,000 0.51%
RH
Opened
4,117
$874,000 0.47%
Avanti Acquisition Corp.
Opened
86,800
$860,000 0.46%
Altitude Acquisition Corp
Opened
74,500
$738,000 0.39%
Groupon Inc
Closed
31,836
$737,000
Viatris Inc.
No change
70,000
$733,000 0.39%
Dpcm Cap Inc
Opened
72,200
$716,000 0.38%
Abercrombie & Fitch Co.
Opened
40,000
$677,000 0.36%
Ollies Bargain Outlet Hldgs
Closed
11,000
$563,000
Fossil Group Inc
Opened
98,456
$509,000 0.27%
Acv Auctions Inc
Opened
77,700
$508,000 0.27%
Cohn Robbins Holdings Corp.
178.69%
51,000
$507,000 0.27%
Austerlitz Acquisition Corp
Closed
45,700
$444,000
Conduent Inc
Opened
102,409
$442,000 0.24%
Tencent Music Entmt Group
No change
82,200
$413,000 0.22%
RedBall Acquisition Corp.
Closed
32,673
$324,000
Brightcove Inc
No change
43,100
$272,000 0.14%
The Realreal Inc
Opened
86,900
$216,000 0.12%
Ribbit LEAP, Ltd.
Opened
12,100
$120,000 0.06%
Epiphany Technology Acquisit
Opened
10,900
$107,000 0.06%
No transactions found
Showing first 500 out of 58 holdings