Q2 2026 13F · SEC CIK 1665077
Sand Grove Capital Management LLP
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $357.4M
- Reported positions
- 13
- Top holdings a year, 3 yrs
- +0.2%
- Average holding period
- 3 qtrs
Sand Grove Capital Management LLP is a hedge fund that reported 13 positions worth $357.4M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Two Harbors Investment Corp. (TWO, 15.6%), Warner Bros Discovery Inc (WBD, 11.0%), Allied Gold Corp (AAUC, 8.9%). A portfolio copying its top holdings returned 0.2% a year over the last 3 years, against 16.8% for the S&P 500.
Sand Grove Capital Management LLP holdings all 13 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| TWOTwo Harbors Investment Corp. | 15.6% | +45.2% | $55.8M |
| WBDWarner Bros Discovery Inc | 11.0% | +2.0% | $39.3M |
| AAUCAllied Gold Corp | 8.9% | +18.5% | $31.9M |
| WBSWebster Finl Corp | 8.9% | -26.7% | $31.7M |
| NSCNorfolk Southn Corporation | 8.7% | -5.3% | $31.2M |
| TXNMTxnm Energy Inc | 8.0% | -23.5% | $28.8M |
| AESAES Corp | 7.7% | +7.8% | $27.5M |
| TECHBio-Techne Corp | 7.3% | — | $26.2M |
| ROKURoku Inc | 6.4% | — | $23.0M |
| EAElectronic Arts Inc | 5.2% | -37.1% | $18.7M |
| AVNSAvanos Med Inc | 5.0% | — | $18.0M |
| SYNASynaptics Inc | 4.4% | — | $15.9M |
| UNFUnifirst Corp Mass | 2.7% | — | $9.6M |
What Sand Grove Capital Management LLP bought and sold in Q2 2026, against Q1 2026.
New positions
- TECH Bio-Techne Corp7.3% of 13F
- ROKU Roku Inc6.4% of 13F
- AVNS Avanos Med Inc5.0% of 13F
- SYNA Synaptics Inc4.4% of 13F
- UNF Unifirst Corp Mass2.7% of 13F
Added to
- TWO Two Harbors Investment Corp.+45.2% shares
- AAUC Allied Gold Corp+18.5% shares
- AES AES Corp+7.8% shares
Reduced
- EA Electronic Arts Inc-37.1% shares
- WBS Webster Finl Corp-26.7% shares
- TXNM Txnm Energy Inc-23.5% shares
- NSC Norfolk Southn Corporation-5.3% shares
Sold out
- PEN Penumbra, Inc.was 6.7%
- IHS Ihs Holding Ltdwas 6.6%
- SLAB Silicon Laboratories Incwas 5.5%
- CWAN Clearwater Analytics Hldgs Iwas 5.2%
- VAL Valaris Ltdwas 4.0%
- GLDD Great Lakes Dredge & Dock Cowas 3.6%
- DVN Devon Energy Corp Newwas 1.5%
- COG Coterra Energy Incwas 1.5%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- -7.9% /yr
- S&P 500 +14.9%
- 3 years
- +0.2% /yr
- S&P 500 +16.8%
- 5 years
- +2.3% /yr
- S&P 500 +10.2%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $357.4M | 13 |
| Q1 2026 | $427.5M | 18 |
| Q4 2025 | $295.0M | 12 |
| Q3 2025 | $204.7M | 12 |
| Q2 2025 | $198.6M | 11 |
| Q1 2025 | $120.7M | 6 |
| Q4 2024 | $206.1M | 13 |
| Q3 2024 | $248.2M | 14 |
| Q2 2024 | $342.1M | 20 |
| Q1 2024 | $437.1M | 22 |
| Q4 2023 | $323.1M | 17 |
| Q3 2023 | $696.3M | 26 |
Questions about Sand Grove Capital Management LLP's portfolio
What stocks does Sand Grove Capital Management LLP own?
Sand Grove Capital Management LLP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 13 positions worth $357.4M. The largest are Two Harbors Investment Corp. (TWO) at 15.6%, Warner Bros Discovery Inc (WBD) at 11.0%, Allied Gold Corp (AAUC) at 8.9%, Webster Finl Corp (WBS) at 8.9% and Norfolk Southn Corporation (NSC) at 8.7%.
What did Sand Grove Capital Management LLP buy last quarter?
In Q2 2026, Sand Grove Capital Management LLP added a new position in Bio-Techne Corp (TECH), a new position in Roku Inc (ROKU), a new position in Avanos Med Inc (AVNS), a new position in Synaptics Inc (SYNA), a new position in Unifirst Corp Mass (UNF), Two Harbors Investment Corp. (TWO) (+45.2% shares), Allied Gold Corp (AAUC) (+18.5% shares) and AES Corp (AES) (+7.8% shares), compared with its Q1 2026 filing.
What did Sand Grove Capital Management LLP sell last quarter?
In Q2 2026, Sand Grove Capital Management LLP sold all of Penumbra, Inc. (PEN), sold all of Ihs Holding Ltd (IHS), sold all of Silicon Laboratories Inc (SLAB), sold all of Clearwater Analytics Hldgs I (CWAN), sold all of Valaris Ltd (VAL), Electronic Arts Inc (EA) (-37.1% shares), Webster Finl Corp (WBS) (-26.7% shares) and Txnm Energy Inc (TXNM) (-23.5% shares), compared with its Q1 2026 filing.
How has Sand Grove Capital Management LLP's portfolio performed?
A portfolio copying Sand Grove Capital Management LLP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +0.2% a year over the last 3 years, against +16.8% for the S&P 500. Over 1 year: -7.9% against +14.9%. Over 5 years: +2.3% a year against +10.2%.
When is Sand Grove Capital Management LLP's next 13F filing due?
13F filings are due 45 days after each quarter ends. Sand Grove Capital Management LLP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.