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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
+14.81%
1 Year Est. Return
+226.03%
3 Year Est. Return
+810.36%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$314M
AUM Growth
+$50.4M
(+19%)
Cap. Flow
+$12.1M
Cap. Flow
% of AUM
3.84%
Top 10 Holdings %
Top 10 Hldgs %
90.34%
Holding
18
New
4
Increased
3
Reduced
1
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
X
US Steel
X
|
+$12.7M |
| 2 |
KRONOS Worldwide
KRO
|
+$7.75M |
| 3 |
Costamare
CMRE
|
+$2.15M |
| 4 |
PBF Energy
PBF
|
+$1.26M |
| 5 |
Tronox
TROX
|
+$932K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CVRR
CVR Refining, LP
CVRR
|
+$9.85M |
| 2 |
Rayonier Advanced Materials
RYAM
|
+$3.44M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 62.19% |
| 2 | Materials | 23.05% |
| 3 | Energy | 12.26% |
| 4 | Industrials | 2.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.1B
| $170M | 54.22% |
2,000,000
| – | – |
|
|
X
2
CALL
DELISTED
US Steel
X
| $25M | 7.97% |
+720,000
| New | +$25.7M |
|
|
3
PBF Energy
PBF
$8.34B
| $16.8M | 5.34% |
400,000
+30,000
| +8% | +$1.26M |
|
4
Methanex
MEOH
$4.85B
| $15.7M | 5% |
222,000
| – | – |
|
|
X
5
DELISTED
US Steel
X
| $12.3M | 3.93% |
+355,000
| New | +$12.7M |
|
|
CVRR
6
DELISTED
CVR Refining, LP
CVRR
| $11.2M | 3.56% |
500,000
-500,000
| -50% | -$9.85M |
|
7
Delek US
DK
$4.56B
| $10.5M | 3.36% |
210,000
| – | – |
|
|
HCR
8
DELISTED
Hi-Crush Inc. Common Stock
HCR
| $8.5M | 2.71% |
720,000
+45,000
| +7% | +$559K |
|
|
9
KRONOS Worldwide
KRO
$927M
| $7.32M | 2.33% |
+325,000
| New | +$7.75M |
|
|
10
Tronox
TROX
$690M
| $6M | 1.91% |
305,000
+50,000
| +20% | +$932K |
|
|
KRA
11
DELISTED
Kraton Corporation
KRA
| $6M | 1.91% |
130,000
| – | – |
|
12
Builders FirstSource
BLDR
$6.48B
| $5.49M | 1.75% |
300,000
| – | – |
|
13
Westlake Corp
WLK
$8.81B
| $5.38M | 1.71% |
50,000
| – | – |
|
14
Constellium
CSTM
$3.43B
| $4.69M | 1.49% |
455,000
| – | – |
|
|
MSB
15
Mesabi Trust
MSB
$278M
| $3.93M | 1.25% |
160,000
| – | – |
|
16
Warrior Met Coal
HCC
$5.04B
| $2.48M | 0.79% |
90,000
| – | – |
|
|
17
Costamare
CMRE
$1.83B
| $2.35M | 0.75% |
+295,000
| New | +$2.15M |
|
|
18
Rayonier Advanced Materials
RYAM
$563M
| – | – |
-160,000
| Closed | -$3.44M |
|
Similar funds
UCI
MAG
HIP
PC
MW
PAA
FCG
IAG
Brightline Capital Management's Q2 2018 Portfolio in Review
As of Q2 2018, Brightline Capital Management held 18 positions worth $314M, up 19% from $263M the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Brightline Capital Management deployed $12.1M of net new capital in Q2 2018, opening 4 new positions and adding to 3 existing holdings. Its largest new stake was US Steel: 355,000 shares worth $12.3M.
By sector, the portfolio is most concentrated in Miscellaneous at 62% of assets, down from 65% a quarter earlier, followed by Materials and Energy.
On the sell side, the largest reduction was CVR Refining, LP, an estimated $9.85M trimmed.
- Brightline Capital Management's largest Q2 2018 buy was US Steel: 355,000 shares worth $12.3M.
- Brightline Capital Management added most to PBF Energy in Q2 2018, an estimated $1.26M increase.
- Brightline Capital Management's biggest Q2 2018 reduction was CVR Refining, LP, cutting an estimated $9.85M.
- Brightline Capital Management fully exited Rayonier Advanced Materials in Q2 2018, selling an estimated $3.44M.
- Brightline Capital Management's ten largest holdings make up 90% of its $314M portfolio in Q2 2018.
- Brightline Capital Management opened 4 new positions and closed 1 in Q2 2018.
- Brightline Capital Management's portfolio value rose 19% quarter-over-quarter to $314M.
Based on Brightline Capital Management's 13F filing for Q2 2018, filed 10 Aug 2018.