Sand Grove Capital Management LLP
13F Reported Value
ⓘ$444.2M
incl. option notional
Equity Holdings
ⓘ$427.5M
Option Notional
ⓘ$16.7M
$0 puts / $16.7M calls
Holdings
19
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Sand Grove Capital Management LLP disclosed 19 positions worth $444.2M in its Form 13F-HR for Q1 2026 — $427.5M in common stock plus $16.7M of put/call option positions (reported at underlying notional value, not premium at risk), led by $WBD (Warner Bros. Discovery, Inc.) at 9.3% of the equity portfolio, followed by $WBS and $TXNM. During the quarter the fund opened 15 new positions and exited 8 — including a new stake in $WBS and a full exit from $HOLX. The portfolio is most concentrated in Technology (17.5% of disclosed assets). All figures are sourced directly from Sand Grove Capital Management LLP’s Form 13F-HR filing with the SEC under CIK 1665077.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- 42.1#1,870
Quality
$39.7M1,446,807 sh - 60.2#872
Quality
$39.3M565,786 sh - 57.8#1,018
Quality
$38.7M662,081 sh - —
Quality
$35.3M3,094,787 sh - —
Quality
$35.1M1,135,486 sh - 70.8
Quality
$30.0M104,633 sh - 71.1
Quality
$29.5M144,726 sh - 69.7
Quality
$28.5M86,758 sh - —
Quality
$28.2M3,422,706 sh - 50.9
Quality
$24.5M1,737,102 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 Warner Bros. Discovery, Inc.$WBD | 42.1#1,870 | $39.7M | 1,446,807 |
 WEBSTER FINANCIAL CORP$WBS | 60.2#872 | $39.3M | 565,786 |
 TXNM ENERGY INC$TXNM | 57.8#1,018 | $38.7M | 662,081 |
 TWO HARBORS INVESTMENT CORP.$TWO | — | $35.3M | 3,094,787 |
 Allied Gold Corp$AAUC | — | $35.1M | 1,135,486 |
 NORFOLK SOUTHERN CORP$NSC | 70.8 | $30.0M | 104,633 |
 ELECTRONIC ARTS INC.$EA | 71.1 | $29.5M | 144,726 |
 Penumbra Inc$PEN | 69.7 | $28.5M | 86,758 |
 IHS Holding Ltd$IHS | — | $28.2M | 3,422,706 |
 AES CORP$AES | 50.9 | $24.5M | 1,737,102 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Sand Grove Capital Management LLP's 19 positions.
Showing top 10 of 19 holdings.
Sector Allocation
Technology
$74.9M
Communication Services
$67.9M
Utilities
$63.2M
Industrials
$45.2M
Financials
$39.3M
Healthcare
$36.9M
Real Estate
$35.3M
Materials
$35.1M
Full Holdings — Sand Grove Capital Management LLP (Q1 2026)
All 19 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $WBD | Warner Bros. Discovery, Inc. | $39.7M | 9.3% | +42% | 42.1 |
| 2 | $WBS | WEBSTER FINANCIAL CORP | $39.3M | 9.2% | NEW | 60.2 |
| 3 | $TXNM | TXNM ENERGY INC | $38.7M | 9.1% | +11% | 57.8 |
| 4 | $TWO | TWO HARBORS INVESTMENT CORP. | $35.3M | 8.3% | NEW | — |
| 5 | $AAUC | Allied Gold Corp | $35.1M | 8.2% | NEW | — |
| 6 | $NSC | NORFOLK SOUTHERN CORP | $30.0M | 7.0% | +23% | 70.8 |
| 7 | $EA | ELECTRONIC ARTS INC. | $29.5M | 6.9% | +4% | 71.1 |
| 8 | $PEN | Penumbra Inc | $28.5M | 6.7% | NEW | 69.7 |
| 9 | $IHS | IHS Holding Ltd | $28.2M | 6.6% | NEW | — |
| 10 | $AES | AES CORP | $24.5M | 5.7% | NEW | 50.9 |
| 11 |  $SLAB | SILICON LABORATORIES INC. | $23.4M | 5.5% | NEW | 36.6 |
| 12 |  $CWAN | Clearwater Analytics Holdings, Inc. | $22.0M | 5.2% | NEW | 50.2 |
| 13 |  $VAL | Valaris Ltd | $17.0M | 4.0% | NEW | — |
| 14 |  $TERNCALL | Terns Pharmaceuticals, Inc. | $16.7M | — | NEW | — |
| 15 |  $GLDD | Great Lakes Dredge & Dock CORP | $15.2M | 3.5% | NEW | 64.8 |
| 16 |  $DVN | DEVON ENERGY CORP/DE | $6.3M | 1.5% | NEW | 70.2 |
| 17 |  $CTRA | Coterra Energy Inc. | $6.3M | 1.5% | NEW | 80.6 |
| 18 | $TERN | Terns Pharmaceuticals, Inc. | $4.3M | 1.0% | NEW | — |
| 19 |  $EHAB | Enhabit, Inc. | $4.1M | 0.9% | NEW | 54.8 |
New Positions (15)
$WBS WEBSTER FINANCIAL CORP$39.3M$TWO TWO HARBORS INVESTMENT CORP.$35.3M$AAUC Allied Gold Corp$35.1M$PEN Penumbra Inc$28.5M$IHS IHS Holding Ltd$28.2M$AES AES CORP$24.5M$SLAB SILICON LABORATORIES INC.$23.4M$CWAN Clearwater Analytics Holdings, Inc.$22.0M$VAL Valaris Ltd$17.0M$TERNCALL Terns Pharmaceuticals, Inc.$16.7M$GLDD Great Lakes Dredge & Dock CORP$15.2M$DVN DEVON ENERGY CORP/DE$6.3M$CTRA Coterra Energy Inc.$6.3M$TERN Terns Pharmaceuticals, Inc.$4.3M$EHAB Enhabit, Inc.$4.1M
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