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CCM

Carronade Capital Management Portfolio holdings

AUM $5.77B
1-Year Est. Return 89.67%
This Fund
S&P 500
This Quarter Est. Return
-6.17%
1 Year Est. Return
+89.67%
3 Year Est. Return
+214.78%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$706M
AUM Growth
-$696M
Cap. Flow
-$59.4M
Cap. Flow %
-8.42%
Top 10 Hldgs %
89.6%
Holding
36
New
4
Increased
6
Reduced
3
Closed
10

Top Buys

Rank Stock Value
1
EXEEL
Expand Energy Corp Class C Warrants
EXEEL
+$17.5M
2
SWX icon
Southwest Gas
SWX
+$11M
3
CMLS
Cumulus Media Inc. Class A Common Stock
CMLS
+$5.82M
4
FE icon
FirstEnergy
FE
+$4.27M
5
GBTG.WS
Global Business Travel Group, Inc. Warrants, each exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
GBTG.WS
+$3.72M

Top Sells

Rank Stock Value
1
APSG.WS
Apollo Strategic Growth Capital Warrants, each exercisable for one Class A Ordinary Share at an exer
APSG.WS
+$4.11M
2
EXE
Expand Energy Corp
EXE
+$3.48M
3
BYND icon
Beyond Meat
BYND
+$959K

Sector Composition

Rank Sector Weight
1 Miscellaneous 87.57%
2 Utilities 10.2%
3 Industrials 1.27%
4 Communication Services 0.54%
5 Consumer Discretionary 0.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$796B
$377M 53.43%
1,000,000
+800,000
+400% +$328M
SPTS icon
2
PUT
State Street SPDR Portfolio Short Term Treasury ETF
SPTS
$7.48B
$71.7M 10.15%
600,000
– –
SWX icon
3
Southwest Gas
SWX
$5.97B
$40.3M 5.71%
462,591
+125,000
+37% +$11M
FE icon
4
FirstEnergy
FE
$25.1B
$28.3M 4.01%
736,540
+100,000
+16% +$4.27M
EXEEL
5
DELISTED
Expand Energy Corp Class C Warrants
EXEEL
$25.5M 3.61%
485,370
+286,383
+144% +$17.5M
NUE icon
6
PUT
Nucor
NUE
$56.1B
$15.7M 2.22%
150,000
-150,000
-50% -$20.3M
HTZWW
7
Hertz Global Holdings Warrants
HTZWW
$74.7M
$12.3M 1.74%
1,255,097
– –
SABR icon
8
CALL
Sabre
SABR
$880M
$11.7M 1.65%
+2,000,000
New +$16.7M
MMM icon
9
PUT
3M
MMM
$87.4B
$9.71M 1.37%
89,700
-89,700
-50% -$10.8M
HTZ icon
10
Hertz
HTZ
$620M
$8.95M 1.27%
565,000
+100,000
+22% +$1.97M
VAL.WS icon
11
Valaris Ltd Warrants
VAL.WS
$648M
$3.93M 0.56%
771,075
– –
CMLS
12
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
$3.83M 0.54%
+495,975
New +$5.82M
NEE icon
13
NextEra Energy
NEE
$159B
$3.49M 0.49%
45,000
– –
GBTG.WS
14
DELISTED
Global Business Travel Group, Inc. Warrants, each exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
GBTG.WS
$3.36M 0.48%
+3,198,632
New +$3.72M
YPF icon
15
CALL
YPF Sociedad Anonima ADS
YPF
$20.4B
$3.26M 0.46%
1,000,000
– –
GBTG icon
16
American Express Global Business Travel
GBTG
$4.96B
$2.17M 0.31%
344,675
+233,574
+210% +$2.05M
BYND icon
17
PUT
Beyond Meat
BYND
$144M
$1.8M 0.25%
2,500
-2,667
-52% -$2.56M
LCID icon
18
PUT
Lucid Motors
LCID
$1.6B
$1.29M 0.18%
+7,500
New +$1.43M
GOL
19
CALL
DELISTED
Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares)
GOL
$1.28M 0.18%
375,000
– –
BRY
20
DELISTED
Berry Corp
BRY
$762K 0.11%
100,000
– –
FCAX.WS
21
DELISTED
Fortress Capital Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
FCAX.WS
$18K ﹤0.01%
100,000
– –
BYND icon
22
CALL
Beyond Meat
BYND
$144M
– –
-2,083
Closed -$3.02M
BYND icon
23
Beyond Meat
BYND
$144M
– –
-1,000
Closed -$959K
CHGG icon
24
CALL
Chegg
CHGG
$81.6M
– –
-100,000
Closed -$3.63M
HTZ icon
25
CALL
Hertz
HTZ
$620M
– –
-150,000
Closed -$3.32M
1
2

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Carronade Capital Management's Q2 2022 Portfolio in Review

As of Q2 2022, Carronade Capital Management held 36 positions worth $706M, down 50% from $1.4B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Carronade Capital Management withdrew a net $59.4M in Q2 2022, closing 10 positions and reducing 3 holdings. Its most notable exit was Apollo Strategic Growth Capital Warrants, each exercisable for one Class A Ordinary Share at an exer, an estimated $4.11M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 88% of assets, down from 95% a quarter earlier, followed by Utilities and Industrials.

Against the trend, Carronade Capital Management opened a new position in Cumulus Media Inc. Class A Common Stock worth $3.83M.

  • Carronade Capital Management's largest Q2 2022 buy was Cumulus Media Inc. Class A Common Stock: 495,975 shares worth $3.83M.
  • Carronade Capital Management added most to Expand Energy Corp Class C Warrants in Q2 2022, an estimated $17.5M increase.
  • Carronade Capital Management fully exited Apollo Strategic Growth Capital Warrants, each exercisable for one Class A Ordinary Share at an exer in Q2 2022, selling an estimated $4.11M.
  • Carronade Capital Management's ten largest holdings make up 90% of its $706M portfolio in Q2 2022.
  • Carronade Capital Management opened 4 new positions and closed 10 in Q2 2022.
  • Carronade Capital Management's portfolio value fell 50% quarter-over-quarter to $706M.

Based on Carronade Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.