PC
Pyrrho Capital Management, LP 13F Filings Explorer
Pyrrho Capital Management, LPCIK: 0001631273
High-turnover traderSector-focusedContrarian
Total reported value
$66.5M
Reporting period: 2016-12-31 · Number of holdings: 31
Pyrrho Capital Management, LP disclosed 31 holdings in its latest 13F filing for the period ending 2016-12-31, with total reported value of $66.5M and a quarterly turnover rate of 153.1%.
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Personality snowflake
- Concentration
- 30.63
- Portfolio Stability
- 100
- Momentum/Contrarian
- 0
- Sector conviction
- 100
- Diversification
- 60
- Sizing Uniformity
- 88.42
Pyrrho Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.077 — mathematically equivalent to about 13 equally-sized positions, well below its 31 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.16), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 4% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Recent moves
Trim SPY
-83.6% -$26.3M
Add 02503Y103
+159.1% $3.2M
Trim 66705Y104
-48.0% -$872.0K
Add NBIX
+114.0% $829.0K
Add G4617B105
+123.6% $758.0K
Trim PNTPUSD
+24.2% -$423.0K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 30 holdings (of 31 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GLD | Spdr Gold Shares | ETF-Commodities | 17.79% | +17.79% | NEW | |
| 2 | BBH | Vaneck Biotech ETF | ETF-Tech | 12.93% | +12.93% | NEW | |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 8.06% | -39.18% | -83.62% | |
| 4 | ✓ | Stock-Other | 7.68% | +4.91% | +159.09% | ||
| 5 | HZNP 2.5 03-15-22 | Horizon Pharma Inv LTD | Stock-Other | 6.55% | +6.55% | NEW | |
| 6 | XOPUSD | Spdr S&p Oil & Gas Exp & Pr | ETF-Other | 4.98% | +4.98% | NEW | |
| 7 | MOS | Mosaic Co/the | Stock-Materials | 3.53% | +3.53% | NEW | |
| 8 | SLM | Slm CORP | Stock-Financials | 3.23% | +3.23% | NEW | |
| 9 | NBIX | Neurocrine Biosciences INC | Stock-Healthcare | 3.21% | +1.26% | +113.97% | |
| 10 | SPPI 2.75 12-15-18 | Spectrum Pharmaceuticals | Stock-Other | 3.09% | +0.08% | — | |
| 11 | ✓ | Horizon Pharma PLC | Stock-Other | 2.28% | +1.15% | +123.57% | |
| 12 | ABX | Barrick Gold CORP | Stock-Financials | 2.21% | +2.21% | NEW | |
| 13 | ASPSZ | Altisource Portfolio Solutions S.A. | Stock-Other | 1.99% | +0.04% | — | |
| 14 | ✓ | Stock-Other | 1.97% | -1.29% | -47.95% | ||
| 15 | ✓ | Aegean Marine Petroleum Netw | Stock-Other | 1.85% | +1.85% | NEW | |
| 16 | WDC | Western Digital Corporation | Stock-Tech | 1.82% | +1.82% | NEW | |
| 17 | BG | Bunge Global SA | Stock-Consumer Staples | 1.74% | +1.74% | NEW | |
| 18 | ✓ | Stock-Other | 1.68% | +1.68% | NEW | ||
| 19 | GPRE | Green Plains INC | Stock-Other | 1.67% | +1.67% | NEW | |
| 20 | ✓ | New York Reit INC | Stock-Other | 1.63% | +0.17% | — | |
| 21 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 1.46% | +1.46% | NEW | |
| 22 | ARCPEUR | Vereit INC | Stock-Other | 1.46% | +1.46% | NEW | |
| 23 | HPE | Hewlett Packard Enterprise | Stock-Tech | 1.39% | +1.39% | NEW | |
| 24 | PNTPUSD | Patriot National INC | Stock-Other | 1.14% | -0.62% | +24.15% | |
| 25 | ET | Energy Transfer LP | Stock-Energy | 1.08% | +1.08% | NEW | |
| 26 | ALLY | Ally Financial INC | Stock-Financials | 0.92% | +0.92% | NEW | |
| 27 | C | Citigroup INC | Stock-Financials | 0.89% | +0.89% | NEW | |
| 28 | ✓ | Neuroderm LTD | Stock-Other | 0.76% | +0.76% | NEW | |
| 29 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 0.60% | +0.60% | NEW | |
| 30 | USX1 | United States Steel CORP | Stock-Other | 0.40% | +0.40% | NEW |
Portfolio Performance
Not enough priced holdings yet to compute performance
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2016-12-31 | 31 | $66.5M | 100 | |
| 2016-09-30 | 29 | $67.1M | 100 | |
| 2016-06-30 | 24 | $32.1M | 100 | |
| 2016-03-31 | 19 | $71.2M | 100 | |
| 2015-12-31 | 14 | $148.1M | 100 | |
| 2015-09-30 | 40 | $115.7M | 100 | |
| 2015-06-30 | 27 | $205.4M | 100 | |
| 2015-03-31 | 25 | $116.1M | 99 | |
| 2014-12-31 | 27 | $81.3M | 0 |
Holding changes this quarter
Pyrrho Capital Management, LP's most significant position changes for 2016-12-31: New buy: Spdr Gold Shares (GLD); New buy: Vaneck Biotech ETF (BBH); Sold out: Delta Air Lines INC (DAL); New buy: Horizon Pharma Inv LTD (HZNP 2.5 03-15-22); Sold out: Ishares Biotechnology ETF (IBB).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +4.9% | +159.09% | Add | |
| 2 | NBIX | Neurocrine Biosciences INC | +1.3% | +113.97% | Add |
| 3 | ✓ | Horizon Pharma PLC | +1.2% | +123.57% | Add |
| 4 | ✓ | New York Reit INC | +0.2% | — | Unchanged |
| 5 | SPPI 2.75 12-15-18 | Spectrum Pharmaceuticals | +0.1% | — | Unchanged |
| 6 | ASPSZ | Altisource Portfolio Solutions S.A. | 0% | — | Unchanged |
| 7 | PNTPUSD | Patriot National INC | -0.6% | +24.15% | Add |
| 8 | ✓ | -1.3% | -47.95% | Trim | |
| 9 | SPY | Ss Spdr S&p 500 ETF Trust-us | -39.2% | -83.62% | Trim |
| 10 | GLD | Spdr Gold Shares | — | NEW | New buy |
| 11 | BBH | Vaneck Biotech ETF | — | NEW | New buy |
| 12 | DAL | Delta Air Lines INC | — | EXIT | Sold out |
| 13 | HZNP 2.5 03-15-22 | Horizon Pharma Inv LTD | — | NEW | New buy |
| 14 | IBB | Ishares Biotechnology ETF | — | EXIT | Sold out |
| 15 | XOPUSD | Spdr S&p Oil & Gas Exp & Pr | — | NEW | New buy |
| 16 | MOS | Mosaic Co/the | — | NEW | New buy |
| 17 | VALE | Vale S.A. | — | EXIT | Sold out |
| 18 | SLM | Slm CORP | — | NEW | New buy |
| 19 | ✓ | PNK Entertainment Inc | — | EXIT | Sold out |
| 20 | WDC | Western Digital Corporation | — | EXIT | Sold out |
| 21 | ✓ | Powershs Db US Dollar Index | — | EXIT | Sold out |
| 22 | ABX | Barrick Gold CORP | — | NEW | New buy |
| 23 | ✓ | Aegean Marine Petroleum Netw | — | NEW | New buy |
| 24 | WDC | Western Digital Corporation | — | NEW | New buy |
| 25 | BG | Bunge Global SA | — | NEW | New buy |
| 26 | ✓ | — | NEW | New buy | |
| 27 | GPRE | Green Plains INC | — | NEW | New buy |
| 28 | MIC2EUR | Macquarie Infrastructure Hol | — | EXIT | Sold out |
| 29 | HOSS 1.5 09-01-19 | Hornbeck Offshore Serv | — | EXIT | Sold out |
| 30 | ARCPEUR | Vereit INC | — | NEW | New buy |
| 31 | GDX | Vaneck Gold Miners ETF | — | NEW | New buy |
| 32 | HPE | Hewlett Packard Enterprise | — | NEW | New buy |
| 33 | ET | Energy Transfer LP | — | NEW | New buy |
| 34 | AGO | Assured Guaranty Ltd. | — | EXIT | Sold out |
| 35 | ✓ | — | EXIT | Sold out | |
| 36 | ALLY | Ally Financial INC | — | NEW | New buy |
| 37 | C | Citigroup INC | — | NEW | New buy |
| 38 | ✓ | Penntex Midstream Partners L | — | EXIT | Sold out |
| 39 | ✓ | Pandora Media INC | — | EXIT | Sold out |
| 40 | ✓ | Neuroderm LTD | — | NEW | New buy |
| 41 | SCI | Service CORP International | — | EXIT | Sold out |
| 42 | ✓ | EnvisionHealthcareI CS USD0.01 | — | EXIT | Sold out |
| 43 | TECK | Teck Resources Ltd-cls B | — | NEW | New buy |
| 44 | ZGNXEUR | Zogenix INC | — | EXIT | Sold out |
| 45 | USX1 | United States Steel CORP | — | NEW | New buy |
| 46 | WPXUSD | Wpx Energy INC | — | EXIT | Sold out |
| 47 | BCC | Boise Cascade Co | — | EXIT | Sold out |
| 48 | ✓ | Morgans Hotel Group Co | — | EXIT | Sold out |
Filing History
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2016-12-31 | 2017-02-10 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-27 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-03 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-10 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-12 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
FAQ
What is Pyrrho Capital Management, LP and what type of investor is it?
Pyrrho Capital Management, LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2016-12-31), the firm manages a tracked equity portfolio valued at approximately $66.5M, spread across 31 disclosed positions.
What are Pyrrho Capital Management, LP's largest equity positions?
Based on the latest 13F filing, Pyrrho Capital Management, LP's top holdings by market value are:
1. Spdr Gold Shares (GLD) — $11.8M (17.8%)
2. Vaneck Biotech ETF (BBH) — $8.6M (12.9%)
3. Ss Spdr S&p 500 ETF Trust-us (SPY) — $5.4M (8.1%)
4. — $5.1M (7.7%)
5. Horizon Pharma Inv LTD (HZNP 2.5 03-15-22) — $4.4M (6.5%)
What changes did Pyrrho Capital Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Pyrrho Capital Management, LP made 45 notable position adjustments: 21 new positions were initiated, 4 existing holdings were added to, 2 positions were partially reduced, and 18 were completely exited. The largest of these moves: New buy: Spdr Gold Shares (GLD); New buy: Vaneck Biotech ETF (BBH); Sold out: Delta Air Lines INC (DAL); New buy: Horizon Pharma Inv LTD (HZNP 2.5 03-15-22); Sold out: Ishares Biotechnology ETF (IBB)
What sectors does Pyrrho Capital Management, LP focus on?
Pyrrho Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 50.2%
• Financials: 49.8%
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