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Livermore
Livermore
ZHEN

Sage Rock Capital Management LP

SEC CIK
0001722622
Latest filing
Nov 14, 2024

The latest 13F from Sage Rock Capital Management LP covers Q3 2024 (filed Nov 14, 2024): 43 long positions worth $22.3M. The top 10 holdings make up 66.4% of the portfolio, and the largest is Bowen Acquisition Corp (BOWN) at 8.2%. Livermore has 15 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2024

Share counts compared with Q2 2024: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
10
Est. +$4.47M
Added
6
Est. +$722.1K
Reduced
13
Est. −$1.31M
Sold out
10
Est. −$8.59M

Top 5 holdings

Share of this quarter's portfolio value

  1. BOWNBowen Acquisition Corp
    8.2%$1.83MHistory
  2. Colombier Acquisition Corp IG2283U100
    7.8%$1.74M
  3. Rigel Resource Acq CorpG7573M106
    7.8%$1.73M
  4. RFAIRF Acquisition Corp II
    7.3%$1.63MHistory
  5. Jvspac Acquisition CorpG5212E105
    7.0%$1.55M

Share of portfolio

Top 5 holdings and the other 38 positions, by share of portfolio value

  1. BOWN8.2%
  2. Colombier Acquisition Corp I7.8%
  3. Rigel Resource Acq Corp7.8%
  4. RFAI7.3%
  5. Jvspac Acquisition Corp7.0%
  6. Other 38 positions61.9%

Biggest buys

New and added positions, by estimated amount bought

  1. RFAIRF Acquisition Corp II
    +$1.63MNewHistory
  2. Vine Hill Cap Invt Corp.G93Y09123
    +$1.00MNew
  3. Presidio MidCo Inc.G3106N125
    +$794.4KNew
  4. FUNSix Flags Entertainment Corporation
    +$491.8KNewHistory
  5. Colombier Acquisition Corp IG2283U100
    +$307.8KAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. RFAIRF Acquisition Corp II
    +7.31 pp0.0% → 7.3%History
  2. Vine Hill Cap Invt Corp.G93Y09123
    +4.49 pp0.0% → 4.5%
  3. Presidio MidCo Inc.G3106N125
    +3.57 pp0.0% → 3.6%
  4. Colombier Acquisition Corp IG2283U100
    +2.44 pp5.4% → 7.8%
  5. FUNSix Flags Entertainment Corporation
    +2.21 pp0.0% → 2.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CVIIChurchill Capital Corp VII
    −$2.75MSold outHistory
  2. TCOAZalatoris Acquisition Corp.
    −$2.22MSold outHistory
  3. RFAIURF Acquisition Corp II
    −$1.61MSold outHistory
  4. 99 Acquisition Group Inc65445K101
    −$1.24MSold out
  5. AERTAeries Technology, Inc.
    −$562.8KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CVIIChurchill Capital Corp VII
    −10.29 pp10.3% → 0.0%History
  2. TCOAZalatoris Acquisition Corp.
    −8.31 pp8.3% → 0.0%History
  3. RFAIURF Acquisition Corp II
    −6.03 pp6.0% → 0.0%History
  4. 99 Acquisition Group Inc65445K101
    −4.64 pp4.6% → 0.0%
  5. SIXSix Flags Entertainment Corp
    −1.93 pp1.9% → 0.0%History

Metrics

13F metrics for Q3 2024, computed only from the numbers in the filings. Definitions below.

Portfolio value
$22.3M
−$4.41M (−16.5%) vs. prior quarter
Positions
43
0 vs. prior quarter
Top 10 concentration
66.4%
Top 10 as share of value
Turnover
21.2%
Q3 2024, one quarter
Average holding period
3.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

15 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $827.7M (Q1 2021)

Q1 2021: $827.7MQ2 2021: $762.7MQ3 2021: $673.1MQ4 2021: $671.4MQ1 2022: $559.6MQ2 2022: $505.8MQ3 2022: $450.6MQ4 2022: $320.6MQ1 2023: $193.0MQ2 2023: $82.0MQ3 2023: $87.0MQ4 2023: $25.9MQ1 2024: $24.6MQ2 2024: $26.7MQ3 2024: $22.3M
Q1 2021Q3 2024
13F filings of Sage Rock Capital Management LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2024Nov 14, 202443$22.3MBOWNColombier Acquisition Corp IRigel Resource Acq Corpvs. Q2 2024SEC
Q2 2024Aug 14, 202443$26.7MCVIITCOABOWNvs. Q1 2024SEC
Q1 2024May 15, 202443$24.6MCVIITCOABOWNvs. Q4 2023SEC
Q4 2023Feb 14, 202451$25.9MPower & Digital InfrastructuCVIITCOAvs. Q3 2023SEC
Q3 2023Nov 14, 202376$87.0MCVIICCVILCWvs. Q2 2023SEC
Q2 2023Aug 14, 202385$82.0MPFTACCVIAlpha Partners Tech Mergr Covs. Q1 2023SEC
Q1 2023May 15, 2023125$193.0MPontem CorporationAcropolis Infrastructure AcqPFTAvs. Q4 2022SEC
Q4 2022Feb 14, 2023197$320.6MAcropolis Infrastructure AcqXFINPFTAvs. Q3 2022SEC
Q3 2022Nov 14, 2022270$450.6MAnthemis Digital AcquisitionAcropolis Infrastructure AcqXFINvs. Q2 2022SEC
Q2 2022Aug 15, 2022309$505.8MAnthemis Digital AcquisitionAcropolis Infrastructure AcqXFINvs. Q1 2022SEC
Q1 2022May 16, 2022278$559.6MDP Cap Acquisition Corp IAnthemis Digital AcquisitionPortage Fintech Acquisitn Covs. Q4 2021SEC
Q4 2021Feb 14, 2022245$671.4MLearn CW Investment CorBlack Mountain Acq CorpDP Cap Acquisition Corp Ivs. Q3 2021SEC
Q3 2021Nov 15, 2021209$673.1MMarlin Technology Corp.Noble Rock Acquisition CorpVAQCvs. Q2 2021SEC
Q2 2021Aug 16, 2021220$762.7MMarlin Technology Corp.FS Development Corp IINoble Rock Acquisition Corpvs. Q1 2021SEC
Q1 2021May 17, 2021213$827.7MVAQCMarlin Technology Corp.Noble Rock Acquisition Corp–SEC