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Bocage Capital Portfolio holdings
AUM
$185M
1-Year Est. Return
61.49%
This Fund
S&P 500
This Quarter
Est. Return
+11.14%
1 Year Est. Return
+61.49%
3 Year Est. Return
+25.28%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$403M
AUM Growth
+$143M
(+55%)
Cap. Flow
+$114M
Cap. Flow
% of AUM
28.26%
Top 10 Holdings %
Top 10 Hldgs %
62.31%
Holding
27
New
9
Increased
5
Reduced
11
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DYN
Dynegy, Inc.
DYN
|
+$15.9M |
| 2 |
DRC
DRESSER-RAND GROUP INC
DRC
|
+$11.8M |
| 3 |
Green Plains
GPRE
|
+$5.96M |
| 4 |
NOV
NOV
|
+$5.39M |
| 5 |
Graphic Packaging
GPK
|
+$5.33M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ANDV
Andeavor
ANDV
|
+$9.28M |
| 2 |
Marathon Petroleum
MPC
|
+$8.14M |
| 3 |
Sibanye-Stillwater
SBSW
|
+$6.99M |
| 4 |
Occidental Petroleum
OXY
|
+$3.82M |
| 5 |
Navigator Holdings
NVGS
|
+$3.42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 18.79% |
| 2 | Energy | 14.49% |
| 3 | Consumer Discretionary | 6.95% |
| 4 | Utilities | 4.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Transocean
RIG
$5.69B
| $54.5M | 13.52% |
+1,209,500
| New | +$51.5M |
|
|
CHK
2
PUT
DELISTED
Chesapeake Energy Corporation
CHK
| $33.6M | 8.34% |
5,716
+2,175
| +61% | +$11.9M |
|
3
PUT
Ovintiv
OVV
$16.2B
| $23.8M | 5.9% |
200,400
+26,400
| +15% | +$3.06M |
|
4
PUT
Alcoa
AA
$11.6B
| $23.7M | 5.89% |
+662,963
| New | +$21.7M |
|
5
PUT
iShares China Large-Cap ETF
FXI
$4.6B
| $21.7M | 5.38% |
585,300
-14,700
| -2% | -$533K |
|
6
PUT
iShares MSCI Emerging Markets ETF
EEM
$28B
| $21.3M | 5.28% |
491,700
-8,300
| -2% | -$352K |
|
|
RKT
7
DELISTED
ROCK-TENN COMPANY CL-A
RKT
| $18.6M | 4.61% |
351,582
+10,658
| +3% | +$537K |
|
8
NRG Energy
NRG
$27.2B
| $18.5M | 4.6% |
498,323
+70,366
| +16% | +$2.42M |
|
|
DYN
9
DELISTED
Dynegy, Inc.
DYN
| $17.9M | 4.44% |
+514,083
| New | +$15.9M |
|
10
CF Industries
CF
$18.7B
| $17.6M | 4.36% |
364,975
-14,745
| -4% | -$721K |
|
11
Freeport-McMoran
FCX
$83.9B
| $17.5M | 4.33% |
478,127
-5,096
| -1% | -$174K |
|
|
CTRA
12
DELISTED
Coterra Energy
CTRA
| $17.3M | 4.29% |
506,477
-44,828
| -8% | -$1.61M |
|
|
13
Sibanye-Stillwater
SBSW
$5.66B
| $17.3M | 4.29% |
1,660,536
-729,321
| -31% | -$6.99M |
|
|
X
14
PUT
DELISTED
US Steel
X
| $13.5M | 3.36% |
+520,000
| New | +$13.3M |
|
|
DRC
15
DELISTED
DRESSER-RAND GROUP INC
DRC
| $12.3M | 3.06% |
+193,467
| New | +$11.8M |
|
|
ANDV
16
DELISTED
Andeavor
ANDV
| $12M | 2.99% |
205,344
-168,199
| -45% | -$9.28M |
|
17
LyondellBasell Industries
LYB
$19.1B
| $11.6M | 2.88% |
118,913
-25,307
| -18% | -$2.41M |
|
|
18
Marathon Petroleum
MPC
$91.3B
| $10.5M | 2.61% |
269,586
-184,092
| -41% | -$8.14M |
|
|
19
Graphic Packaging
GPK
$3.2B
| $9.45M | 2.35% |
808,018
+497,888
| +161% | +$5.33M |
|
|
20
Green Plains
GPRE
$1.35B
| $6.66M | 1.65% |
+202,604
| New | +$5.96M |
|
21
Gran Tierra Energy
GTE
$233M
| $6.66M | 1.65% |
81,996
-7,588
| -8% | -$558K |
|
|
22
NOV
NOV
$7.01B
| $5.96M | 1.48% |
+72,311
| New | +$5.39M |
|
|
CLD
23
DELISTED
Cloud Peak Energy Inc
CLD
| $5.9M | 1.47% |
320,524
-79,576
| -20% | -$1.56M |
|
|
TAM
24
DELISTED
TAMINCO CORP COM
TAM
| $3.23M | 0.8% |
+138,837
| New | +$2.9M |
|
|
TC
25
DELISTED
Thompson Creek Metals Company Inc. Ordinary Shares (Canada)
TC
| $1.94M | 0.48% |
+654,994
| New | +$1.8M |
|
Similar funds
EEG
SRP
SA
SIG
CF
WSA
VWM
HH
Bocage Capital's Q2 2014 Portfolio in Review
As of Q2 2014, Bocage Capital held 27 positions worth $403M, up 55% from $260M the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Bocage Capital deployed $114M of net new capital in Q2 2014, opening 9 new positions and adding to 5 existing holdings. Its largest new stake was Dynegy, Inc.: 514,083 shares worth $17.9M.
By sector, the portfolio is most concentrated in Materials at 19% of assets, down from 26% a quarter earlier, followed by Energy and Consumer Discretionary.
On the sell side, the largest reduction was Andeavor, an estimated $9.28M trimmed.
- Bocage Capital's largest Q2 2014 buy was Dynegy, Inc.: 514,083 shares worth $17.9M.
- Bocage Capital added most to Graphic Packaging in Q2 2014, an estimated $5.33M increase.
- Bocage Capital's biggest Q2 2014 reduction was Andeavor, cutting an estimated $9.28M.
- Bocage Capital fully exited Occidental Petroleum in Q2 2014, selling an estimated $3.82M.
- Bocage Capital's ten largest holdings make up 62% of its $403M portfolio in Q2 2014.
- Bocage Capital opened 9 new positions and closed 2 in Q2 2014.
- Bocage Capital's portfolio value rose 55% quarter-over-quarter to $403M.
Based on Bocage Capital's 13F filing for Q2 2014, filed 13 Aug 2014.