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BCM
Brightline Capital Management Portfolio holdings
AUM
$338M
1-Year Est. Return
197.95%
This Fund
S&P 500
This Quarter
Est. Return
-2.54%
1 Year Est. Return
+197.95%
3 Year Est. Return
+777.91%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$263M
AUM Growth
+$150M
(+133%)
Cap. Flow
+$154M
Cap. Flow
% of AUM
58.43%
Top 10 Holdings %
Top 10 Hldgs %
94.39%
Holding
21
New
3
Increased
4
Reduced
3
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Methanex
MEOH
|
+$13M |
| 2 |
Rayonier Advanced Materials
RYAM
|
+$3.13M |
| 3 |
CVRR
CVR Refining, LP
CVRR
|
+$2.97M |
| 4 |
Delek US
DK
|
+$2.52M |
| 5 |
HCR
Hi-Crush Inc. Common Stock
HCR
|
+$1.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NGL Energy Partners
NGL
|
+$9.13M |
| 2 |
Peabody Energy
BTU
|
+$7.87M |
| 3 |
TGH
Textainer Group Holdings limited
TGH
|
+$5.27M |
| 4 |
Warrior Met Coal
HCC
|
+$4.78M |
| 5 |
Commercial Vehicle Group
CVGI
|
+$4.12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 17.42% |
| 2 | Energy | 12.96% |
| 3 | Industrials | 2.26% |
| 4 | Consumer Discretionary | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $171M | 65.01% |
+2,000,000
| New | +$173M |
|
|
2
Methanex
MEOH
$4.15B
| $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 |
|
4
PBF Energy
PBF
$7.26B
| $12.5M | 4.76% |
370,000
| – | – |
|
|
5
Delek US
DK
$3.93B
| $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 |
|
8
Builders FirstSource
BLDR
$7.86B
| $5.95M | 2.26% |
300,000
| – | – |
|
9
Westlake Corp
WLK
$9.33B
| $5.56M | 2.11% |
50,000
-20,000
| -29% | -$2.22M |
|
10
Constellium
CSTM
$3.95B
| $4.94M | 1.87% |
455,000
| – | – |
|
11
Tronox
TROX
$997M
| $4.7M | 1.78% |
255,000
+40,000
| +19% | +$797K |
|
|
MSB
12
Mesabi Trust
MSB
$301M
| $4.12M | 1.56% |
160,000
| – | – |
|
|
13
Rayonier Advanced Materials
RYAM
$589M
| $3.44M | 1.3% |
+160,000
| New | +$3.13M |
|
|
14
Warrior Met Coal
HCC
$4.17B
| $2.52M | 0.96% |
90,000
-165,000
| -65% | -$4.78M |
|
|
DCH
15
Dauch Corp
DCH
$1.32B
| – | – |
-195,000
| Closed | -$3.32M |
|
|
16
Peabody Energy
BTU
$2.8B
| – | – |
-200,000
| Closed | -$7.87M |
|
|
17
Commercial Vehicle Group
CVGI
$152M
| – | – |
-385,000
| Closed | -$4.12M |
|
|
18
NGL Energy Partners
NGL
$1.89B
| – | – |
-650,000
| Closed | -$9.13M |
|
19
Select Water Solutions
WTTR
$2.25B
| – | – |
-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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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 deployed $154M of net new capital in Q1 2018, opening 3 new positions and adding to 4 existing holdings. Its largest new stake was Methanex: 222,000 shares worth $13.5M.
By sector, the portfolio is most concentrated in Materials at 17% of assets, down from 31% a quarter earlier, followed by Energy and Industrials.
On the sell side, the largest reduction was Warrior Met Coal, an estimated $4.78M trimmed.
- 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.