Returns–Not enough quarters yet
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| Two Harbors Inventment CorpoCUSIP 90187B804 | $55.8M | 15.6% | +45.2% |
| Warner Bros Discovery IncCUSIP 934423104 | $39.3M | 11.0% | +2.0% |
| AAUCAllied Gold Corp | $31.9M | 8.9% | +18.5% |
| Webster Finl CorpCUSIP 947890109 | $31.7M | 8.9% | −26.7% |
| NSCNorfolk Southn Corp | $31.2M | 8.7% | −5.3% |
| TXNMTxnm Energy Inc | $28.8M | 8.0% | −23.5% |
| AESAes Corp | $27.5M | 7.7% | +7.8% |
| TECHBio-techne Corp | $26.2M | 7.3% | New |
| ROKURoku Inc | $23.0M | 6.4% | New |
| Electronic Arts IncCUSIP 285512109 | $18.7M | 5.2% | −37.1% |
| Avanos Med IncCUSIP 05350V106 | $18.0M | 5.0% | New |
| SYNASynaptics Inc | $15.9M | 4.4% | New |
| UNFUnifirst Corp Mass | $9.6M | 2.7% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| Webster Finl CorpCUSIP 947890109 | March 31, 2026 | +10.1% | $31.7M |
| Two Harbors Inventment CorpoCUSIP 90187B804 | March 31, 2026 | +8.7% | $55.8M |
| NSCNorfolk Southn Corp | September 30, 2025 | +4.7% | $31.2M |
| AESAes Corp | March 31, 2026 | +4.0% | $27.5M |
| Electronic Arts IncCUSIP 285512109 | September 30, 2025 | +1.7% | $18.7M |
| TXNMTxnm Energy Inc | June 30, 2025 | +0.8% | $28.8M |
| Warner Bros Discovery IncCUSIP 934423104 | December 31, 2025 | −7.5% | $39.3M |
| AAUCAllied Gold Corp | March 31, 2026 | −23.4% | $31.9M |
Sold off last quarter
- PENPenumbra Inc was $28.5M
- Ihs Holding LimitedCUSIP G4701H109 was $28.2M
- SLABSilicon Laboratories Inc was $23.4M
- Clearwater Analytics Hldgs ICUSIP 185123106 was $22.0M
- Valaris LtdCUSIP G9460G101 was $17.0M
- GLDDGreat Lakes Dredge & Dock Co was $15.2M
- DVNDevon Energy Corp New was $6.3M
- CTRACoterra Energy Inc was $6.3M
- Terns Pharmaceuticals IncCUSIP 880881107 was $4.3M
- Enhabit IncCUSIP 29332G102 was $4.1M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | −3.9% | +14.8% |
| December 31, 2025 | −4.7% | +2.4% |
| September 30, 2025 | −2.4% | +7.8% |
| June 30, 2025 | −1.5% | +10.5% |
| March 31, 2025 | +5.3% | −4.6% |
| December 31, 2024 | −0.0% | +2.1% |
| June 30, 2024 | −10.7% | +4.0% |
| March 31, 2024 | −1.7% | +10.0% |
| December 31, 2023 | −9.7% | +11.2% |
| September 30, 2023 | −1.4% | −3.6% |
| June 30, 2023 | −8.1% | +8.3% |
| March 31, 2023 | −10.0% | +7.0% |
| December 31, 2022 | +3.5% | +7.1% |
| September 30, 2022 | −4.2% | −5.3% |
| June 30, 2022 | −1.5% | −16.5% |
| March 31, 2022 | −0.8% | −4.9% |
| December 31, 2021 | +8.9% | +10.7% |
| September 30, 2021 | +0.2% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Sand Grove Capital Management LLP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1665077&type=13F-HR&dateb=&owner=include&count=40CIK 1665077
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1665077/000166507726000013/Filed August 14, 2026 · accession 0001665077-26-000013