Nut Tree Capital Management, LP

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Nut Tree Capital Management, LP reported 8 stock positions worth $312.2 million. Its top holding was Caesars Entertainment (CZR) at 30.8% of the portfolio, followed by Constellium (CSTM, 25.5%) and Brightspire Capital (BRSP, 24.3%). Compared with Q4 2023, it opened 1 new position, sold out of 1 and added to 3. The biggest buy was Caesars Entertainment (CZR, shares +340%) and the biggest sale an exit from Tenet Healthcare (THC).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001661655
Portfolio Value
$312.2M (Q1 2024)
SEC Filing
0001085146-24-002611 ↗ filed May 15, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $312.2M $312.2M Q1 2024 Q2 2024: $341.4M Q2 2024 Q3 2024: $365.5M Q3 2024 Q4 2024: $256.3M Q4 2024 Q1 2025: $280.2M Q1 2025 Q2 2025: $295.2M Q2 2025 Q3 2025: $369.8M Q3 2025 Q4 2025: $442.5M Q4 2025 Q1 2026: $245.3M Q1 2026 Q2 2026: $419.0M Q2 2026

Holdings 8 stocks · $312.2M
CZR Caesars Entertainment Inc. 30.82% 2,200,000 $96.2M Add +340.0%
CSTM Constellium SE 25.49% 3,600,000 $79.6M No change
BRSP Brightspire Capital Inc. 24.26% 10,993,946 $75.7M No change
AVAH Aveanna Healthcare Holdings 9.87% 12,372,649 $30.8M No change
CNK Cinemark Holdings Inc. 4.24% 737,361 $13.3M New
OI O-I Glass Inc. 2.13% 400,000 $6.6M Add +14.3%
STHO Star Holdings filed as STAR HLDGS 1.86% 449,647 $5.8M No change
XPOF Xponential Fitness Inc. Class A 1.32% 250,000 $4.1M Add +74.3%
Other holdings (3): bonds, preferreds, convertibles and warrants · $49.3M (not counted above)
SecurityClassShares / PrincipalValueChange
DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal 55,150,000$34.6MAdd +37.4%
DISH NETWORK CORP (DISH 0 12/15/25) NOTE 12/1 · principal 12,416,000$9.1MReduce -54.7%
INNOVATE CORP (VATE 7.5 08/01/26 *) NOTE 7.500% 8/0 · principal 16,549,000$5.5MNo change

Total filed on the 13F, all lines: $361.5M.

Portfolio Sells Q4 2023 → Q1 2024
THC Tenet Healthcare Corp. Sold out 0.00% −14.40

Portfolio Buys Q4 2023 → Q1 2024
CZR Caesars Entertainment Inc. Add +340.0% 30.82% +21.89
CNK Cinemark Holdings Inc. New 4.24% +4.24
XPOF Xponential Fitness Inc. Class A Add +74.3% 1.32% +0.62
OI O-I Glass Inc. Add +14.3% 2.13% −0.06

Notes & Other Activity Q4 2023 → Q1 2024
DISH NETWORK CORP (DISH 3.375 08/15/26) NOTE 3.375% 8/1 · principal Add +37.4% 55,150,000 $34.6M
DISH NETWORK CORP (DISH 0 12/15/25) NOTE 12/1 · principal Reduce -54.7% 12,416,000 $9.1M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 8$419.0MAERO, AVAH, VSAT, ACN, ECHO
Q1 2026 4$245.3MAERO, AVAH, BRSP, VISN
Q4 2025 7$442.5MAERO, AVAH, ECHO, BRSP, CSTM
Q3 2025 7$369.8MAVAH, CSTM, BRSP, ECHO, CZR
Q2 2025 8$295.2MCSTM, AVAH, CZR, BRSP, ECHO
Q1 2025 10$280.2MAVAH, BRSP, CSTM, CZR, XPOF
Q4 2024 8$256.3MBRSP, AVAH, CSTM, XPOF, TSEOQ
Q3 2024 10$365.5MCZR, AVAH, BRSP, CSTM, XPOF
Q2 2024 12$341.4MCZR, CSTM, BRSP, XPOF, AVAH
Q1 2024Amended 8$312.2MCZR, CSTM, BRSP, AVAH, CNK