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BCM

Brightline Capital Management Portfolio holdings

AUM $462M
1-Year Est. Return 226.03%
This Fund
S&P 500
This Quarter Est. Return
-2.54%
1 Year Est. Return
+226.03%
3 Year Est. Return
+810.36%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$263M
AUM Growth
+$150M
Cap. Flow
-$18.8M
Cap. Flow %
-7.15%
Top 10 Hldgs %
94.39%
Holding
21
New
3
Increased
4
Reduced
3
Closed
7

Top Buys

Rank Stock Value
1
MEOH icon
Methanex
MEOH
+$13M
2
RYAM icon
Rayonier Advanced Materials
RYAM
+$3.13M
3
CVRR
CVR Refining, LP
CVRR
+$2.97M
4
DK icon
Delek US
DK
+$2.52M
5
HCR
Hi-Crush Inc. Common Stock
HCR
+$1.83M

Top Sells

Rank Stock Value
1
NGL icon
NGL Energy Partners
NGL
+$9.13M
2
BTU icon
Peabody Energy
BTU
+$7.87M
3
TGH
Textainer Group Holdings limited
TGH
+$5.27M
4
HCC icon
Warrior Met Coal
HCC
+$4.78M
5
CVGI icon
Commercial Vehicle Group
CVGI
+$4.12M

Sector Composition

Rank Sector Weight
1 Miscellaneous 65.01%
2 Materials 19.77%
3 Energy 12.96%
4 Industrials 2.26%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.1B
$171M 65.01%
+2,000,000
New +$173M
MEOH icon
2
Methanex
MEOH
$4.85B
$13.5M 5.11%
+222,000
New +$13M
CVRR
3
DELISTED
CVR Refining, LP
CVRR
$13.1M 4.95%
1,000,000
+200,000
+25% +$2.97M
PBF icon
4
PBF Energy
PBF
$8.34B
$12.5M 4.76%
370,000
– –
DK icon
5
Delek US
DK
$4.56B
$8.55M 3.24%
210,000
+70,000
+50% +$2.52M
HCR
6
DELISTED
Hi-Crush Inc. Common Stock
HCR
$7.16M 2.72%
675,000
+150,000
+29% +$1.83M
KRA
7
DELISTED
Kraton Corporation
KRA
$6.2M 2.35%
130,000
-20,000
-13% -$968K
BLDR icon
8
Builders FirstSource
BLDR
$6.48B
$5.95M 2.26%
300,000
– –
WLK icon
9
Westlake Corp
WLK
$8.81B
$5.56M 2.11%
50,000
-20,000
-29% -$2.22M
CSTM icon
10
Constellium
CSTM
$3.43B
$4.94M 1.87%
455,000
– –
TROX icon
11
Tronox
TROX
$690M
$4.7M 1.78%
255,000
+40,000
+19% +$797K
MSB
12
Mesabi Trust
MSB
$278M
$4.12M 1.56%
160,000
– –
RYAM icon
13
Rayonier Advanced Materials
RYAM
$563M
$3.44M 1.3%
+160,000
New +$3.13M
HCC icon
14
Warrior Met Coal
HCC
$5.04B
$2.52M 0.96%
90,000
-165,000
-65% -$4.78M
DCH
15
Dauch Corp
DCH
$1.49B
– –
-195,000
Closed -$3.32M
BTU icon
16
Peabody Energy
BTU
$3.33B
– –
-200,000
Closed -$7.87M
CVGI icon
17
Commercial Vehicle Group
CVGI
$127M
– –
-385,000
Closed -$4.12M
NGL icon
18
NGL Energy Partners
NGL
$2.16B
– –
-650,000
Closed -$9.13M
WTTR icon
19
Select Water Solutions
WTTR
$2.59B
– –
-170,000
Closed -$3.1M
TGH
20
DELISTED
Textainer Group Holdings limited
TGH
– –
-245,000
Closed -$5.27M
FRTA
21
DELISTED
Forterra, Inc
FRTA
– –
-210,000
Closed -$2.33M

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MAG
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HIP
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PC
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MW
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PAA
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FCG
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IAG
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Brightline Capital Management's Q1 2018 Portfolio in Review

As of Q1 2018, Brightline Capital Management held 21 positions worth $263M, up 133% from $113M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Brightline Capital Management withdrew a net $18.8M in Q1 2018, closing 7 positions and reducing 3 holdings. Its most notable exit was NGL Energy Partners, an estimated $9.13M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 65% of assets, followed by Materials and Energy.

Against the trend, Brightline Capital Management opened a new position in Methanex worth $13.5M.

  • Brightline Capital Management's largest Q1 2018 buy was Methanex: 222,000 shares worth $13.5M.
  • Brightline Capital Management added most to CVR Refining, LP in Q1 2018, an estimated $2.97M increase.
  • Brightline Capital Management's biggest Q1 2018 reduction was Warrior Met Coal, cutting an estimated $4.78M.
  • Brightline Capital Management fully exited NGL Energy Partners in Q1 2018, selling an estimated $9.13M.
  • Brightline Capital Management's ten largest holdings make up 94% of its $263M portfolio in Q1 2018.
  • Brightline Capital Management opened 3 new positions and closed 7 in Q1 2018.
  • Brightline Capital Management's portfolio value rose 133% quarter-over-quarter to $263M.

Based on Brightline Capital Management's 13F filing for Q1 2018, filed 10 May 2018.