STONEHILL CAPITAL MANAGEMENT LLC — 13F Holdings & Portfolio
CIK 1266227 · latest 13F-HR filed 2026-08-14
STONEHILL CAPITAL MANAGEMENT LLC manages $350.1M in 13F-reported U.S. long-equity assets across 15 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ECHO (57.75%), MBC (7.83%), TDAY (7.28%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 6 new positions and exited 6; 6 existing positions rose in reported value and 3 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 97.3%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Mar 25, 2026.
26TH FLOOR
NEW YORK, NY 10022-4834
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| ARORA, SAMIR Control | PARTNER since Jan 2017 | 10–25% | Individual |
| MALEK, PAUL, DAVID Control | GENERAL COUNSEL; CHIEF COMPLIANCE OFFICER since Mar 2009 | Less than 5% | Individual |
| MOTULSKY, JOHN, ALEXANDER Control | PARTNER since Nov 1999 | 10–25% | Individual |
| SACKS, JONATHAN, SCOTT Control | PARTNER since Jan 2007 | 10–25% | Individual |
| SCM, L.P. Control | SOLE MEMBER OF STONEHILL CAPITAL MANAGEMENT LLC since Jan 2014 | 75% or more | Domestic Entity |
| SISITSKY, PETER, M Control | PARTNER since Jan 2009 | 10–25% | Individual |
| STERN, MICHAEL, LENARD Control | PARTNER since Jan 2014 | 10–25% | Individual |
| THOYER, MICHAEL, JOHN Control | PARTNER since Jan 2011 | 10–25% | Individual |
| ZWAHLEN, GARRETT, LEE Control | PARTNER since Jan 2024 | Less than 5% | Individual |
| Zuckerman, Michael, Jay Control | CHIEF FINANCIAL OFFICER since Apr 2025 | Less than 5% | Individual |
| WILSON, CHRISTOPHER, ELIOT | PARTNER (RETIRED) since Nov 1999 | 5–10% | Individual |
| MOTULSKY, JOHN, ALEXANDER Control Indirect owner via SCMH GP, LLC | PRINCIPAL since Nov 1999 | 25–50% | Individual |
| SCMH GP, LLC Control Indirect owner via SCM, L.P. | GENERAL PARTNER OF SCM, L.P., THE SOLE MEMBER OF STONEHILL CAPITAL MANAGEMENT since Jan 2014 | General partner, trustee or manager | Domestic Entity |
Ownership & leadership changes · 12 filings with changes since Feb 13, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- No longer listedLAU, WANG MEI · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Nov 2023
- AddedZuckerman, Michael, Jay · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- No longer listedNELSON, STEVEN, DAVID · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Dec 2006
- AddedLAU, WANG MEI · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- AddedZWAHLEN, GARRETT, LEE · PARTNER · Less than 5% · control person
- ChangedMOTULSKY, JOHN, ALEXANDER · ownership 25–50% → 10–25%
- ChangedWILSON, CHRISTOPHER, ELIOT · ownership 10–25% → 5–10%
- ChangedARORA, SAMIR · ownership 5–10% → 10–25%
- No longer listedMOTULSKY, JOHN, ALEXANDER · PRINCIPAL · 25–50% · indirect via SCM, L.P. AND SCMH GP, LLC · control person · listed since Nov 1999
- AddedMOTULSKY, JOHN, ALEXANDER · PRINCIPAL · 25–50% · indirect via SCMH GP, LLC · control person
- ChangedWILSON, CHRISTOPHER, ELIOT · title PARTNER → PARTNER (RETIRED); no longer a control person
- No longer listedTEETSEL, WAYNE, JOHN DAVID · RETIRED PARTNER · Less than 5% · listed since Nov 1999
- No longer listedVARKEY, THOMAS, NMN · RETIRED PARTNER · 5–10% · control person · listed since Jan 2004
- ChangedSTERN, MICHAEL, LENARD · ownership 5–10% → 10–25%
- ChangedTHOYER, MICHAEL, JOHN · ownership 5–10% → 10–25%
- ChangedVARKEY, THOMAS, NMN · title PARTNER → RETIRED PARTNER
- ChangedARORA, SAMIR · ownership Less than 5% → 5–10%
- ChangedSISITSKY, PETER, M · ownership 5–10% → 10–25%
- AddedARORA, SAMIR · PARTNER · Less than 5% · control person
- ChangedTEETSEL, WAYNE, JOHN DAVID · ownership 10–25% → Less than 5%
- AddedMOTULSKY, JOHN, ALEXANDER · PRINCIPAL · 25–50% · indirect via SCM, L.P. AND SCMH GP, LLC · control person
- ChangedSACKS, JONATHAN, SCOTT · ownership 5–10% → 10–25%
- ChangedTEETSEL, WAYNE, JOHN DAVID · title PARTNER → RETIRED PARTNER; no longer a control person
- ChangedSTERN, MICHAEL, LENARD · ownership Less than 5% → 5–10%
Older changes (3 more filings)
- AddedSCM, L.P. · SOLE MEMBER OF STONEHILL CAPITAL MANAGEMENT LLC · 75% or more · control person
- AddedSCMH GP, LLC · GENERAL PARTNER OF SCM, L.P., THE SOLE MEMBER OF STONEHILL CAPITAL MANAGEMENT · General partner, trustee or manager · indirect via SCM, L.P. · control person
- AddedSTERN, MICHAEL, LENARD · PARTNER · Less than 5% · control person
- ChangedMOTULSKY, JOHN, ALEXANDER · title MANAGING MEMBER → PARTNER
- ChangedSACKS, JONATHAN, SCOTT · title MANAGING MEMBER → PARTNER
- ChangedSISITSKY, PETER, M · title MANAGING MEMBER → PARTNER
- ChangedTEETSEL, WAYNE, JOHN DAVID · title MANAGING MEMBER → PARTNER
- ChangedTHOYER, MICHAEL, JOHN · title MANAGING MEMBER → PARTNER
- ChangedVARKEY, THOMAS, NMN · title MANAGING MEMBER → PARTNER
- ChangedWILSON, CHRISTOPHER, ELIOT · title MANAGING MEMBER → PARTNER
- ChangedSACKS, JONATHAN, SCOTT · ownership 10–25% → 5–10%
- ListedMALEK, PAUL, DAVID · GENERAL COUNSEL; CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedMOTULSKY, JOHN, ALEXANDER · MANAGING MEMBER · 25–50% · control person
- ListedNELSON, STEVEN, DAVID · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ListedSACKS, JONATHAN, SCOTT · MANAGING MEMBER · 10–25% · control person
- ListedSISITSKY, PETER, M · MANAGING MEMBER · 5–10% · control person
- ListedTEETSEL, WAYNE, JOHN DAVID · MANAGING MEMBER · 10–25% · control person
- ListedTHOYER, MICHAEL, JOHN · MANAGING MEMBER · 5–10% · control person
- ListedVARKEY, THOMAS, NMN · MANAGING MEMBER · 5–10% · control person
- ListedWILSON, CHRISTOPHER, ELIOT · MANAGING MEMBER · 10–25% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- ECHOSTAR CORP CL A COMMON$104.9M +107.7%
- SERVICE PROPERTIES TRUST REIT$23.7M +14038.5%
- MASTERBRAND INC COMMON$15.3M +126.4%
- DOUBLEDOWN INTERACTIVE CO LTD ADR$6.2M +382.5%
- USA TODAY CO INC COMMON$4.5M +21.3%
Top Trims
- MANPOWERGROUP INC COMMON-$5.8M -36.2%
- ELME COMMUNITIES REIT-$1.4M -34.1%
- CADIZ INC COMMON-$666.0K -7.0%
New Positions
- FORTUNE BRANDS INNOVATIONS INC COMMON$19.2M
- HERTZ GLOBAL HOLDINGS INC COMMON$4.4M
- VIASAT INC COMMON$2.8M
- ZIFF DAVIS INC COMMON$2.6M
- IRSA SA ADR$1.2M
Exited Positions
- HOLOGIC INC COMMON$11.6M
- AMERICAN WOODMARK CORP COMMON$8.4M
- HELLO GROUP INC SPN ADR$3.6M
- IRSA INVERSIONES SA WTS EXP 03/25/2026$981.0K
- NEW FORTRESS ENERGY INC COMMON$465.0K
STONEHILL CAPITAL MANAGEMENT LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ECHOSTAR CORP CL A COMMON | ECHO | 278768106 | $202.2M | 57.75% | 1,992,095 | SH |
| 2 | MASTERBRAND INC COMMON | MBC | 57638P104 | $27.4M | 7.83% | 2,662,946 | SH |
| 3 | USA TODAY CO INC COMMON | TDAY | 36472T109 | $25.5M | 7.28% | 2,981,555 | SH |
| 4 | SERVICE PROPERTIES TRUST REIT | SVC | 81761L102 | $23.9M | 6.82% | 14,138,345 | SH |
| 5 | FORTUNE BRANDS INNOVATIONS INC COMMON | FBIN | 34964C106 | $19.2M | 5.49% | 350,000 | SH |
| 6 | ROBERT HALF INC COMMON | RHI | 770323103 | $11.2M | 3.19% | 363,307 | SH |
| 7 | MANPOWERGROUP INC COMMON | MAN | 56418H100 | $10.1M | 2.89% | 299,945 | SH |
| 8 | CADIZ INC COMMON | CDZI | 127537207 | $8.9M | 2.54% | 2,125,937 | SH |
| 9 | DOUBLEDOWN INTERACTIVE CO LTD ADR | DDI | 25862B109 | $7.8M | 2.22% | 677,132 | SH |
| 10 | HERTZ GLOBAL HOLDINGS INC COMMON | HTZ | 42806J700 | $4.4M | 1.26% | 1,950,000 | SH |
| 11 | VIASAT INC COMMON | VSAT | 92552V100 | $2.8M | 0.81% | 31,477 | SH |
| 12 | ELME COMMUNITIES REIT | ELME | 939653101 | $2.7M | 0.77% | 1,823,835 | SH |
| 13 | ZIFF DAVIS INC COMMON | ZD | 48123V102 | $2.6M | 0.75% | 50,000 | SH |
| 14 | IRSA SA ADR | IRS | 450047303 | $1.2M | 0.36% | 80,673 | SH |
| 15 | ZIPRECRUITER INC CL A COMMON | ZIP | 98980B103 | $194.0K | 0.06% | 51,630 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $350.1M | 15 | 0001266227-26-000003 |
| 2026-03-31 | 2026-05-15 | $197.3M | 15 | 0001266227-26-000002 |
| 2025-12-31 | 2026-02-17 | $333.8M | 22 | 0001266227-26-000001 |
| 2025-09-30 | 2025-11-14 | $280.4M | 15 | 0001266227-25-000006 |
26TH FLOOR
NEW YORK, NY 10022