Springhouse Capital Management, Lp
- Regulatory AUM
- $197M
- Discretionary
- $197M
- Clients
- 1
- Avg AUM / client
- $197M
- Accounts
- 1
- Employees
- 2
AUM over time
Annual snapshots from Form ADV filings · as of Mar 30, 2026
Investments (13F portfolio — 22 positions, $55,260,517)
13F period Sep 30, 2023| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | The Realreal Inc | NOTE 1.000% 3/0 | $17,270,675 | 37,342,000 | 31.3% | 8.79% |
| 2 | Citigroup Inc | COM NEW | $8,793,471 | 213,797 | 15.9% | 4.47% |
| 3 | G Willi Food Intl Ltd | ORD | $6,569,484 | 635,654 | 11.9% | 3.34% |
| 4 | The Realreal Inc | NOTE 3.000% 6/1 | $5,214,300 | 7,449,000 | 9.44% | 2.65% |
| 5 | Expedia Group Inc | COM NEW | $3,504,380 | 34,000 | 6.34% | 1.78% |
| 6 | Global Indemnity Group Llc | COM CL A | $3,490,716 | 101,622 | 6.32% | 1.78% |
| 7 | Burford Cap Ltd | ORD SHS | $1,990,058 | 142,147 | 3.6% | 1.01% |
| 8 | Energy Transfer L P | COM UT LTD PTN | $1,511,031 | 107,700 | 2.73% | 0.77% |
| 9 | Alibaba Group Hldg Ltd | SPONSORED ADS | $1,474,580 | 17,000 | 2.67% | 0.75% |
| 10 | Genesis Energy L P | UNIT LTD PARTN | $1,072,743 | 103,948 | 1.94% | 0.55% |
| 11 | Vipshop Hldgs Ltd | SPONSORED ADS A | $909,528 | 56,810 | 1.65% | 0.46% |
| 12 | Viatris Inc | COM | $690,200 | 70,000 | 1.25% | 0.35% |
| 13 | Amc Entmt Hldgs Inc | CL A NEW | $559,300 | 70,000 | 1.01% | 0.28% |
| 14 | Tencent Music Entmt Group | SPON ADS | $524,436 | 82,200 | 0.95% | 0.27% |
| 15 | Ubs Group Ag | SHS | $505,325 | 20,500 | 0.91% | 0.26% |
| 16 | The Realreal Inc | COM | $361,118 | 171,146 | 0.65% | 0.18% |
| 17 | The Beauty Health Company | COM CL A | $289,670 | 48,118 | 0.52% | 0.15% |
| 18 | Altisource Portfolio Solns S | REG SHS | $172,412 | 43,211 | 0.31% | 0.09% |
| 19 | Brightcove Inc | COM | $141,799 | 43,100 | 0.26% | 0.07% |
| 20 | Farmer Bros Co | COM | $88,120 | 34,155 | 0.16% | 0.04% |
| 21 | Icad Inc | COM NEW | $83,356 | 39,505 | 0.15% | 0.04% |
| 22 | Purple Innovation Inc | COM | $43,815 | 25,623 | 0.08% | 0.02% |
Top 25 of 22 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 1 | $197M | 100.0% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $192M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Springhouse Capital (U.S.), L.P. | Hedge Fund | Delaware | $192M | 28 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Gaines, Brian, Scott | Limited Partner, Managing Member Of The General Partner, Chief Compliance Officer | Oct 2003 (23y) | 75% or more | |
| Gaines, Lewis | Member | Oct 2003 (23y) | ≈ 0% – 3.75% via Springhouse Capital Management G.P., Llc | |
| Goldstein, Robert, Lawrence | Member | Oct 2003 (23y) | ≈ 2.5% – 12.5% via Gotham Advisers, Llc | |
| Greenblatt, Joel, Michael | Managing Member | Oct 2003 (23y) | ≈ 2.5% – 12.5% via Gotham Advisers, Llc |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Gotham Advisers, Llc | Limited Partner | Oct 2003 | A | 10% – 25% |
| Springhouse Capital Management G.P., Llc | General Partner | Oct 2003 | A | Less than 5% |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Gaines, Lewis: 50% – 75% of Springhouse Capital Management G.P., Llc × 0% – 5% direct ≈ 0% – 3.75% of the firm
- Goldstein, Robert, Lawrence: 25% – 50% of Gotham Advisers, Llc × 10% – 25% direct ≈ 2.5% – 12.5% of the firm
- Greenblatt, Joel, Michael: 25% – 50% of Gotham Advisers, Llc × 10% – 25% direct ≈ 2.5% – 12.5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $192M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Springhouse Capital (U.S.), L.P. | Hedge Fund | $192M | $2.0M | 28 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/30/2026 | 1.3 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports it does not have custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 30, 2026.
View current Form ADV (SEC/IAPD) ↗