Fort Baker Capital Management LP
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Fort Baker Capital Management LP reported 19 stock positions worth $233.3 million. Its top holding was Liberty Broadband-C (LBRDK) at 17.3% of the portfolio, followed by Smartsheet Class A (SMAR, 14.6%) and Churchill Capital Corp. Ix (CCIX, 12.3%). Compared with Q2 2024, it opened 12 new positions, sold out of 12 and reduced 5. The biggest buy was a new position in Smartsheet Class A (SMAR) and the biggest sale an exit from Hibbett (HIBB).
- Most Recent 13F
- Q2 2026
- Location
- Larkspur, CA
- CIK
- 0001688382
- Portfolio Value
- $233.3M (Q3 2024)
- SEC Filing
- 0001688382-24-000014 ↗ filed Nov 14, 2024
Holdings Value
Holdings 19 stocks · $233.3M
| LBRDK Liberty Broadband-C | 17.26% | 521,008 | $40.3M | Reduce -18.1% |
| SMAR Smartsheet Inc. Class A | 14.63% | 616,585 | $34.1M | New |
| CCIX Churchill Capital Corp. Ix | 12.35% | 2,874,000 | $28.8M | No change |
| ESGR Enstar Group Ltd. | 7.99% | 57,978 | $18.6M | New |
| K Kellanova | 6.65% | 192,164 | $15.5M | New |
| LGF.B Lions Gate Entertainment-B | 6.41% | 2,159,070 | $14.9M | Reduce -64.2% |
| HAYMAKER ACQUISITION CORP 4 | 5.99% | 1,310,641 | $14.0M | New |
| ANSS Ansys Inc. | 5.00% | 36,587 | $11.7M | Reduce -32.4% |
| SKGR SK Growth Opportunities Co. Class A | 4.71% | 970,000 | $11.0M | Reduce -3.0% |
| BSIIU Black Spade Acquisition II C | 4.53% | 1,058,588 | $10.6M | New |
| VSTO Vista Outdoor Inc. | 3.11% | 185,000 | $7.2M | New |
| LLYVK Liberty Media Corp.-Liberty-C | 2.36% | 107,322 | $5.5M | New |
| AMTM Amentum Holdings Inc. | 2.32% | 167,490 | $5.4M | New |
| AXONICS INC | 1.72% | 57,590 | $4.0M | New |
| ENV Envestnet Inc. | 1.68% | 62,457 | $3.9M | Reduce -64.3% |
| ESHA Esh Acquisition Corp. Class A | 1.39% | 305,145 | $3.2M | No change |
| LION Lionsgate Studios Corp. | 1.04% | 339,237 | $2.4M | New |
| VSTS Vestis Corp. | 0.79% | 123,662 | $1.8M | New |
| EQC Equity Commonwealth | 0.09% | 10,000 | $199K | New |
Options reported separately and not counted above: JNPR calls ($6.9M).
Other holdings (55): bonds, preferreds, convertibles and warrants · $367.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | 30,250,000 | $27.7M | Reduce -17.7% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 23,887,000 | $26.9M | Reduce -11.2% |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | 27,891,000 | $26.2M | Reduce -4.4% |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | 27,280,000 | $25.4M | Reduce -20.6% |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | 25,000,000 | $22.2M | Reduce -18.0% |
| EZCORP INC (EZPW 2.375 05/01/25) | NOTE 2.375% 5/0 · principal | 20,871,000 | $20.7M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 20,900,000 | $20.6M | Reduce -19.6% |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | 20,700,000 | $19.5M | Reduce -17.2% |
| PENNYMAC CORP (PMT 5.5 11/01/24) | NOTE 5.500%11/0 · principal | 17,974,000 | $18.4M | No change |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | 15,000,000 | $15.8M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 14,500,000 | $14.8M | New |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 12,700,000 | $11.8M | Reduce -9.3% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 11,800,000 | $11.4M | Reduce -50.8% |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 10,700,000 | $10.5M | Reduce -10.8% |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | 9,546,000 | $10.2M | Reduce -9.5% |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | 7,500,000 | $9.1M | New |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | 7,473,000 | $6.9M | Reduce -20.5% |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | 7,129,000 | $6.7M | Reduce -16.5% |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | 6,332,000 | $6.5M | Reduce -9.5% |
| ATLANTICA JERSEY LTD (AY 4 07/15/25) | NOTE 4.000% 7/1 · principal | 6,375,000 | $6.4M | No change |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 6,894,000 | $5.5M | New |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | 5,199,000 | $5.4M | Reduce -37.2% |
| IONIS PHARMACEUTICALS IN (IONS 0.125 12/15/24) | NOTE 0.125%12/1 · principal | 5,348,000 | $5.3M | Reduce -20.6% |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | 5,000,000 | $4.8M | New |
| PELOTON INTERACTIVE INC (PTON 0 02/15/26) | NOTE 2/1 · principal | 5,083,000 | $4.6M | No change |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | 4,268,000 | $4.2M | Reduce -64.4% |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 4,000,000 | $3.7M | No change |
| PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) | NOTE 1.750%12/1 · principal | 3,190,000 | $2.9M | No change |
| CERENCE INC (CRNC 3 06/01/25) | NOTE 3.000% 6/0 · principal | 2,500,000 | $2.4M | No change |
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | 790,094 | $1.8M | Reduce -0.9% |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 1,666,000 | $1.5M | No change |
| EVENTBRITE INC (EB 5 12/01/25) | NOTE 5.000%12/0 · principal | 1,500,000 | $1.5M | Reduce -92.0% |
| RINGCENTRAL INC (RNG 0 03/01/25) | NOTE 3/0 · principal | 1,344,000 | $1.3M | No change |
| CMPOW Composecure Inc. -CW25 | *W EXP 12/27/202 | 273,702 | $1.0M | New |
| RINGCENTRAL INC (RNG 0 03/15/26) | NOTE 3/1 · principal | 1,000,000 | $918K | No change |
| GCMGW GCM Grosvenor Inc. A -CW25 | *W EXP 11/17/202 | 507,520 | $447K | No change |
| SKGRW SK Growth Opportunities -29 | *W EXP 06/28/202 | 2,090,322 | $439K | Add +286.8% |
| LSEAW Landsea Homes Corp.-CW23 | *W EXP 01/08/202 | 974,221 | $285K | Reduce -5.2% |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 718,498 | $269K | No change |
| SEAPORT ENTERTAINMENT GR-RTS | RIGHT 10/10/2024 | 54,216 | $160K | New |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | 91,549 | $158K | Reduce -17.7% |
| LVRWF Lavoro Ltd.-27 | *W EXP 02/27/202 | 414,661 | $126K | No change |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | 678,207 | $115K | New |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | 416,854 | $115K | Reduce -14.0% |
| CXAIW Kins Tech Group Class A -CW25 | *W EXP 99/99/999 | 292,870 | $74K | No change |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 | 322,934 | $52K | New |
| ESHAR Esh Acquisition Corp. - Right | RIGHT 06/13/2028 | 305,145 | $34K | No change |
| ADVWW Advantage Solutions in-CW25 | *W EXP 10/28/202 | 798,506 | $25K | No change |
| RCKTW Rocket Pharmaceuticals in-27 | *W EXP 09/02/202 | 328,698 | $24K | No change |
| QBTS.WS D-Wave Quantum Inc. -27 | *W EXP 08/05/202 | 132,216 | $12K | No change |
| PRLHW Pearl Holdings Acq -CW23 | *W EXP 12/15/202 | 265,365 | $9K | No change |
| BLEUACACIA LTD | *W EXP 10/30/202 | 272,373 | $7K | No change |
| NKGNW Graf Acquisition Corp.-CW28 | *W EXP 05/31/202 | 36,934 | $3K | No change |
| PARAW 7GC & Co. Holdings Class A -CW26 | *W EXP 12/14/202 | 225,278 | $2K | No change |
| SNAXW Stryve Food Inc.-CW24 | *W EXP 07/20/202 | 115,965 | $834 | No change |
Total filed on the 13F, all lines: $600.2M.
Portfolio Sells Q2 2024 → Q3 2024
| HIBB Hibbett Inc. | Sold out | 0.00% | −20.35 |
| SBOW Silverbow Resources Inc. | Sold out | 0.00% | −10.67 |
| X United States Steel Corp. | Sold out | 0.00% | −9.60 |
| LGF.B Lions Gate Entertainment-B | Reduce -64.2% | 6.41% | −7.16 |
| ILMN Illumina Inc. | Sold out | 0.00% | −5.65 |
| BAX Baxter International Inc. | Sold out | 0.00% | −3.52 |
| SQSP Squarespace Inc. Class A | Sold out | 0.00% | −3.19 |
| HEI.A Heico Corp. Class A | Sold out | 0.00% | −2.19 |
| CPRI Capri Holdings Ltd. | Sold out | 0.00% | −2.07 |
| ENV Envestnet Inc. | Reduce -64.3% | 1.68% | −1.20 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.41 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.40 |
| LSXMK Liberty Media Corp.-Liber-New | Sold out | 0.00% | −0.39 |
| HAYMAKER ACQUISITION CORP 4 | Sold out | 0.00% | −0.09 |
| ANSS Ansys Inc. | Reduce -32.4% | 5.00% | +0.43 |
| SKGR SK Growth Opportunities Co. Class A | Reduce -3.0% | 4.71% | +1.79 |
| LBRDK Liberty Broadband-C | Reduce -18.1% | 17.26% | +8.12 |
Portfolio Buys Q2 2024 → Q3 2024
| SMAR Smartsheet Inc. Class A | New | 14.63% | +14.63 |
| ESGR Enstar Group Ltd. | New | 7.99% | +7.99 |
| K Kellanova | New | 6.65% | +6.65 |
| HAYMAKER ACQUISITION CORP 4 | New | 5.99% | +5.99 |
| BSIIU Black Spade Acquisition II C | New | 4.53% | +4.53 |
| VSTO Vista Outdoor Inc. | New | 3.11% | +3.11 |
| LLYVK Liberty Media Corp.-Liberty-C | New | 2.36% | +2.36 |
| AMTM Amentum Holdings Inc. | New | 2.32% | +2.32 |
| AXONICS INC | New | 1.72% | +1.72 |
| LION Lionsgate Studios Corp. | New | 1.04% | +1.04 |
| VSTS Vestis Corp. | New | 0.79% | +0.79 |
| EQC Equity Commonwealth | New | 0.09% | +0.09 |
Options Activity Q2 2024 → Q3 2024
| X United States Steel Corp. | call | Sold out | 1,173,800 | $44.4Mbefore exit |
| HIBB Hibbett Inc. | put | Sold out | 100,900 | $8.2Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024
| CABLE ONE INC (CABO 0 03/15/26) | NOTE 3/1 · principal | Reduce -17.7% | 30,250,000 | $27.7M |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | Reduce -11.2% | 23,887,000 | $26.9M |
| ZIFF DAVIS INC (ZD 1.75 11/01/26) | NOTE 1.750%11/0 · principal | Reduce -4.4% | 27,891,000 | $26.2M |
| MARRIOTT VACATION WORLDW (VAC 0 01/15/26) | NOTE 1/1 · principal | Reduce -20.6% | 27,280,000 | $25.4M |
| TURNING POINT BRANDS INC (TPB 2.5 07/15/24) | NOTE 2.500% 7/1 · principal | Sold out | 24,887,000 | $25.1Mbefore exit |
| DIGITALOCEAN HOLDINGS (DOCN 0 12/01/26) | NOTE 12/0 · principal | Reduce -18.0% | 25,000,000 | $22.2M |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Reduce -19.6% | 20,900,000 | $20.6M |
| LIBERTY LATIN AMERICA (LILAK 2 07/15/24) | NOTE 2.000% 7/1 · principal | Sold out | 20,126,000 | $20.3Mbefore exit |
| DAYFORCE INC (DAY 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Reduce -17.2% | 20,700,000 | $19.5M |
| ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) | NOTE 2.500% 7/1 · principal | New | 15,000,000 | $15.8M |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | New | 14,500,000 | $14.8M |
| AIR TRANSPORT SERVICES G (ATSG 1.125 10/15/24) | NOTE 1.125%10/1 · principal | Sold out | 14,707,000 | $14.5Mbefore exit |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | Reduce -9.3% | 12,700,000 | $11.8M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Reduce -50.8% | 11,800,000 | $11.4M |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | Reduce -10.8% | 10,700,000 | $10.5M |
| FIRSTENERGY CORP (FE 4 05/01/26) | NOTE 4.000% 5/0 · principal | Reduce -9.5% | 9,546,000 | $10.2M |
| SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) | NOTE 12/1 · principal | New | 7,500,000 | $9.1M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 06/15/25) | NOTE 2.250% 6/1 · principal | Sold out | 9,264,000 | $9.1Mbefore exit |
| ENVESTNET INC (ENV 0.75 08/15/25) | 0.75 8/15/2025 · principal | Sold out | 7,437,000 | $7.3Mbefore exit |
| JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) | CONVERTIBLE BOND · principal | Reduce -20.5% | 7,473,000 | $6.9M |
| VAIL RESORTS INC (MTN 0 01/01/26) | NOTE 1/0 · principal | Reduce -16.5% | 7,129,000 | $6.7M |
| RWT HOLDINGS INC (RWT 5.75 10/01/25) | NOTE 5.750%10/0 · principal | Reduce -9.5% | 6,332,000 | $6.5M |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | New | 6,894,000 | $5.5M |
| AMERICAN AIRLINES GROUP (AAL 6.5 07/01/25) | NOTE 6.500% 7/0 · principal | Reduce -37.2% | 5,199,000 | $5.4M |
| INFINERA CORP (INFN 2.125 09/01/24) | NOTE 2.125% 9/0 · principal | Sold out | 5,353,000 | $5.4Mbefore exit |
| IONIS PHARMACEUTICALS IN (IONS 0.125 12/15/24) | NOTE 0.125%12/1 · principal | Reduce -20.6% | 5,348,000 | $5.3M |
| OKTA INC (OKTA 0.125 09/01/25) | NOTE 0.125% 9/0 · principal | New | 5,000,000 | $4.8M |
| BLOCK INC (XYZ 0.125 03/01/25) | NOTE 0.125% 3/0 · principal | Reduce -64.4% | 4,268,000 | $4.2M |
| IMTXW Immatics NV -CW | *W EXP 07/01/202 | Reduce -0.9% | 790,094 | $1.8M |
| EVENTBRITE INC (EB 5 12/01/25) | NOTE 5.000%12/0 · principal | Reduce -92.0% | 1,500,000 | $1.5M |
| CMPOW Composecure Inc. -CW25 | *W EXP 12/27/202 | New | 273,702 | $1.0M |
| SKGRW SK Growth Opportunities -29 | *W EXP 06/28/202 | Add +286.8% | 2,090,322 | $439K |
| LSEAW Landsea Homes Corp.-CW23 | *W EXP 01/08/202 | Reduce -5.2% | 974,221 | $285K |
| CVIIW Churchill Capital Vii -CW28 | *W EXP 02/29/202 | Sold out | 472,555 | $165Kbefore exit |
| SEAPORT ENTERTAINMENT GR-RTS | RIGHT 10/10/2024 | New | 54,216 | $160K |
| ASTLW Algoma Steel Group Inc. -CW26 | *W EXP 10/19/202 | Reduce -17.7% | 91,549 | $158K |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | New | 678,207 | $115K |
| SPWRW Sunpower Inc.-CW27 | *W EXP 07/31/202 | Reduce -14.0% | 416,854 | $115K |
| KDKRW Ares Acquisition Corp. II-28 | *W EXP 99/99/999 | New | 322,934 | $52K |
| LCWWF Learn CW Investment A -CW28 | *W EXP 10/08/202 | Sold out | 236,017 | $39Kbefore exit |
| IRIS ACQUISITION CORP | *W EXP 02/28/202 | Sold out | 171,466 | $7Kbefore exit |
| SOARW Volato Group Inc. - CW23 | *W EXP 12/04/202 | Sold out | 253,685 | $4Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 60 | $1.0B | WBD, NSC, EA, AES, LBRDK |
| Q1 2026 | 60 | $952.7M | WBD, EA, AES, MASI, NSC |
| Q4 2025 | 63 | $727.2M | FYBR, CYBR, WBD, FTW, CWAN |
| Q3 2025 | 64 | $586.0M | CYBR, LBRDK, FYBR, FTW, TGNA |
| Q2 2025 | 60 | $569.4M | ARES ACQUISITION CORP II, SKX, FYBR, FTW, NWSA |
| Q1 2025 | 22 | $319.9M | ARES ACQUISITION CORP II, FYBR, NWSA, DNB, CCIX |
| Q4 2024 | 27 | $400.2M | K, FYBR, ESGR, CCIX, LBRDK |
| Q3 2024 | 19 | $233.3M | LBRDK, SMAR, CCIX, ESGR, K |
| Q2 2024 | 19 | $381.1M | HIBB, LGF.B, SBOW, X, LBRDK |
| Q1 2024 | 14 | $235.8M | LGF.B, X, NWSA, CPRI, LBRDK |