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BCM
Brenham Capital Management Portfolio holdings
AUM
$660M
1-Year Est. Return
70.79%
This Fund
S&P 500
This Quarter
Est. Return
+29.14%
1 Year Est. Return
+70.79%
3 Year Est. Return
+234.28%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$789M
AUM Growth
-$9.76M
(-1.2%)
Cap. Flow
-$130M
Cap. Flow
% of AUM
-16.42%
Top 10 Holdings %
Top 10 Hldgs %
94.55%
Holding
20
New
7
Increased
–
Reduced
5
Closed
7
Avg Time Held
0.8
quarters
Top 10 Avg Time Held
0.7
quarters
Top 20 Avg Time Held
0.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chord Energy
CHRD
|
+$89.7M |
| 2 |
Marathon Oil Corporation
MRO
|
+$88.7M |
| 3 |
Pioneer Natural Resource Co.
PXD
|
+$88.1M |
| 4 |
Anadarko Petroleum
APC
|
+$78M |
| 5 |
Occidental Petroleum
OXY
|
+$47.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondback Energy
FANG
|
+$114M |
| 2 |
Permian Resources
PR
|
+$108M |
| 3 |
CLR
CONTINENTAL RESOURCES INC.
CLR
|
+$91.4M |
| 4 |
WLL
Whiting Petroleum Corporation
WLL
|
+$69.1M |
| 5 |
PE
PARSLEY ENERGY INC
PE
|
+$47.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 91.98% |
| 2 | Real Estate | 5.4% |
| 3 | Miscellaneous | 2.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
WPX
1
DELISTED
WPX Energy, Inc.
WPX
| $108M | 13.7% |
6,000,000
-1,400,000
| -19% | -$24M |
2017 Q3
3 quarters
|
|
|
2
Chord Energy
CHRD
$7.91B
| $102M | 12.94% |
+7,875,000
| New | +$89.7M |
2018 Q2
0 quarters
|
|
|
3
DELISTED
Marathon Oil Corporation
MRO
| $93.9M | 11.89% |
+4,500,000
| New | +$88.7M |
2018 Q2
0 quarters
|
|
|
4
DELISTED
Pioneer Natural Resource Co.
PXD
| $87M | 11.03% |
+460,000
| New | +$88.1M |
2018 Q2
0 quarters
|
|
|
5
DELISTED
Anadarko Petroleum
APC
| $84.2M | 10.67% |
+1,150,000
| New | +$78M |
2018 Q2
0 quarters
|
|
|
WLL
6
DELISTED
Whiting Petroleum Corporation
WLL
| $79.1M | 10.02% |
20,000
-20,000
| -50% | -$69.1M |
2018 Q1
1 quarter
|
|
|
PE
7
DELISTED
PARSLEY ENERGY INC
PE
| $63.6M | 8.05% |
2,100,000
-1,600,000
| -43% | -$47.1M |
2018 Q1
1 quarter
|
|
|
8
Occidental Petroleum
OXY
$61.1B
| $50.2M | 6.36% |
+600,000
| New | +$47.9M |
2018 Q2
0 quarters
|
|
9
DELISTED
WildHorse Resource Development
WRD
| $42.6M | 5.4% |
1,680,000
-270,000
| -14% | -$6.73M |
2017 Q4
2 quarters
|
|
10
Cactus
WHD
$4.39B
| $35.5M | 4.49% |
1,050,000
-290,000
| -22% | -$8.97M |
2018 Q1
1 quarter
|
|
|
STNLU
11
DELISTED
Sentinel Energy Services Inc. Unit
STNLU
| $20.7M | 2.62% |
2,050,000
| – | – |
2017 Q4
2 quarters
|
|
12
Gran Tierra Energy
GTE
$372M
| $11.2M | 1.42% |
+325,084
| New | +$10.4M |
2018 Q2
0 quarters
|
|
|
XOG
13
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
| $11.1M | 1.41% |
+757,600
| New | +$10.9M |
2018 Q2
0 quarters
|
|
|
14
Diamondback Energy
FANG
$54.6B
| – | – |
-900,000
| Closed | -$114M | – |
|
|
15
Permian Resources
PR
$19.6B
| – | – |
-5,900,000
| Closed | -$108M | – |
|
16
Patterson-UTI
PTEN
$4.32B
| – | – |
-1,500,000
| Closed | -$26.3M | – |
|
17
ProPetro Holding
PUMP
$1.07B
| – | – |
-1,000,000
| Closed | -$15.9M | – |
|
|
CPE
18
DELISTED
Callon Petroleum Company
CPE
| – | – |
-50,000
| Closed | -$6.62M | – |
|
|
CLR
19
DELISTED
CONTINENTAL RESOURCES INC.
CLR
| – | – |
-1,550,000
| Closed | -$91.4M | – |
|
|
EGN
20
DELISTED
Energen
EGN
| – | – |
-400,000
| Closed | -$25.1M | – |
|
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Brenham Capital Management's Q2 2018 Portfolio in Review
As of Q2 2018, Brenham Capital Management held 20 positions worth $789M, down 1.2% from $799M the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Brenham Capital Management withdrew a net $130M in Q2 2018, closing 7 positions and reducing 5 holdings. Its most notable exit was Diamondback Energy, an estimated $114M position sold in full.
By sector, the portfolio is most concentrated in Energy at 92% of assets, down from 93% a quarter earlier, followed by Real Estate and Miscellaneous.
Against the trend, Brenham Capital Management opened a new position in Chord Energy worth $102M.
- Brenham Capital Management's largest Q2 2018 buy was Chord Energy: 7,875,000 shares worth $102M.
- Brenham Capital Management's biggest Q2 2018 reduction was Whiting Petroleum Corporation, cutting an estimated $69.1M.
- Brenham Capital Management fully exited Diamondback Energy in Q2 2018, selling an estimated $114M.
- Brenham Capital Management's ten largest holdings make up 95% of its $789M portfolio in Q2 2018.
- Brenham Capital Management opened 7 new positions and closed 7 in Q2 2018.
- Brenham Capital Management's portfolio value fell 1.2% quarter-over-quarter to $789M.
Based on Brenham Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.