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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
+10.64%
1 Year Est. Return
+61.49%
3 Year Est. Return
+25.28%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$223M
AUM Growth
+$63.8M
(+40%)
Cap. Flow
+$60.9M
Cap. Flow
% of AUM
27.31%
Top 10 Holdings %
Top 10 Hldgs %
82.14%
Holding
22
New
6
Increased
8
Reduced
2
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DYN
Dynegy, Inc.
DYN
|
+$9.44M |
| 2 |
Ovintiv
OVV
|
+$8.91M |
| 3 |
EGN
Energen
EGN
|
+$6.81M |
| 4 |
CTRA
Coterra Energy
CTRA
|
+$5.3M |
| 5 |
CLD
Cloud Peak Energy Inc
CLD
|
+$2.89M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondback Energy
FANG
|
+$9.39M |
| 2 |
Sibanye-Stillwater
SBSW
|
+$9.16M |
| 3 |
Range Resources
RRC
|
+$8.67M |
| 4 |
RSPP
RSP Permian, Inc.
RSPP
|
+$4.23M |
| 5 |
NRG Energy
NRG
|
+$1.73M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 26.65% |
| 2 | Materials | 7.8% |
| 3 | Consumer Discretionary | 7.56% |
| 4 | Utilities | 3.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CHK
1
PUT
DELISTED
Chesapeake Energy Corporation
CHK
| $44.2M | 19.82% |
+35,250
| New | +$40.7M |
|
|
X
2
PUT
DELISTED
US Steel
X
| $39.6M | 17.76% |
+2,100,000
| New | +$43.3M |
|
|
DYN
3
DELISTED
Dynegy, Inc.
DYN
| $19.9M | 8.9% |
1,602,059
+665,340
| +71% | +$9.44M |
|
|
CTRA
4
DELISTED
Coterra Energy
CTRA
| $17.8M | 7.97% |
688,567
+211,721
| +44% | +$5.3M |
|
5
CNX Resources
CNX
$4.71B
| $12.6M | 5.65% |
787,154
+101,872
| +15% | +$1.5M |
|
|
WRK
6
DELISTED
WestRock Company
WRK
| $11.9M | 5.35% |
246,190
+33,520
| +16% | +$1.5M |
|
|
7
Ovintiv
OVV
$16.2B
| $10.4M | 4.66% |
+198,628
| New | +$8.91M |
|
|
8
CALL
Ovintiv
OVV
$16.2B
| $9.42M | 4.23% |
+180,000
| New | +$8.08M |
|
9
Axalta
AXTA
$6.92B
| $8.81M | 3.95% |
311,549
+13,321
| +4% | +$373K |
|
10
Ingevity
NGVT
$2.66B
| $8.6M | 3.86% |
186,530
+7,909
| +4% | +$334K |
|
|
AUY
11
DELISTED
Yamana Gold, Inc.
AUY
| $8.14M | 3.65% |
1,888,247
+254,363
| +16% | +$1.31M |
|
|
12
NRG Energy
NRG
$27.2B
| $8.04M | 3.61% |
717,669
-133,016
| -16% | -$1.73M |
|
|
EGN
13
DELISTED
Energen
EGN
| $7.53M | 3.37% |
+130,390
| New | +$6.81M |
|
|
RSPP
14
DELISTED
RSP Permian, Inc.
RSPP
| $6.64M | 2.98% |
171,140
-114,291
| -40% | -$4.23M |
|
15
Graphic Packaging
GPK
$3.2B
| $4.93M | 2.21% |
352,283
+25,952
| +8% | +$357K |
|
|
CLD
16
DELISTED
Cloud Peak Energy Inc
CLD
| $4.52M | 2.03% |
+830,320
| New | +$2.89M |
|
|
DYN.WS
17
DELISTED
Dynegy Inc,
DYN.WS
| $39K | 0.02% |
240,752
| – | – |
|
|
18
Diamondback Energy
FANG
$55B
| – | – |
-102,925
| Closed | -$9.39M |
|
|
19
Range Resources
RRC
$8.66B
| – | – |
-200,871
| Closed | -$8.67M |
|
|
20
Sibanye-Stillwater
SBSW
$5.66B
| – | – |
-713,253
| Closed | -$9.16M |
|
21
CALL
Steel Dynamics
STLD
$34B
| – | – |
-500,000
| Closed | -$12.3M |
|
|
AKS
22
CALL
DELISTED
AK Steel Holding Corp
AKS
| – | – |
-5,250,000
| Closed | -$24.5M |
|
Similar funds
EEG
SRP
SA
SIG
CF
WSA
VWM
HH
Bocage Capital's Q3 2016 Portfolio in Review
As of Q3 2016, Bocage Capital held 22 positions worth $223M, up 40% from $159M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Bocage Capital deployed $60.9M of net new capital in Q3 2016, opening 6 new positions and adding to 8 existing holdings. Its largest new stake was Ovintiv: 198,628 shares worth $10.4M.
By sector, the portfolio is most concentrated in Energy at 27% of assets, down from 31% a quarter earlier, followed by Materials and Consumer Discretionary.
On the sell side, the largest reduction was RSP Permian, Inc., an estimated $4.23M trimmed.
- Bocage Capital's largest Q3 2016 buy was Ovintiv: 198,628 shares worth $10.4M.
- Bocage Capital added most to Dynegy, Inc. in Q3 2016, an estimated $9.44M increase.
- Bocage Capital's biggest Q3 2016 reduction was RSP Permian, Inc., cutting an estimated $4.23M.
- Bocage Capital fully exited Diamondback Energy in Q3 2016, selling an estimated $9.39M.
- Bocage Capital's ten largest holdings make up 82% of its $223M portfolio in Q3 2016.
- Bocage Capital opened 6 new positions and closed 5 in Q3 2016.
- Bocage Capital's portfolio value rose 40% quarter-over-quarter to $223M.
Based on Bocage Capital's 13F filing for Q3 2016, filed 10 Nov 2016.