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CCMU

Cheyne Capital Management (UK) Portfolio holdings

AUM $27.9M
1-Year Est. Return 36.14%
This Fund
S&P 500
This Quarter Est. Return
+0.77%
1 Year Est. Return
+36.14%
3 Year Est. Return
+35.61%
5 Year Est. Return
+211.68%
10 Year Est. Return
+661.99%
AUM
$230M
AUM Growth
-$47.4M
Cap. Flow
-$91.5M
Cap. Flow %
-39.84%
Top 10 Hldgs %
74.32%
Holding
47
New
3
Increased
7
Reduced
4
Closed
13

Top Buys

Rank Stock Value
1
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$20.4M
2
PPLI
People Inc
PPLI
+$15.4M
3
CPN
Calpine Corporation
CPN
+$10.9M
4
TWX
Time Warner Inc
TWX
+$5.73M
5
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$4.22M

Top Sells

Rank Stock Value
1
DELL icon
Dell
DELL
+$21.9M
2
RICE
Rice Energy Inc.
RICE
+$21M
3
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
+$18M
4
LVLT
Level 3 Communications Inc
LVLT
+$17.9M
5
KITE
Kite Pharma, Inc.
KITE
+$16.7M

Sector Composition

Rank Sector Weight
1 Communication Services 30.86%
2 Materials 13.55%
3 Utilities 7.26%
4 Healthcare 4.23%
5 Financials 1.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RICE
26
DELISTED
Rice Energy Inc.
RICE
– –
-727,153
Closed -$21M
LVLT
27
DELISTED
Level 3 Communications Inc
LVLT
– –
-335,429
Closed -$17.9M
KITE
28
DELISTED
Kite Pharma, Inc.
KITE
– –
-92,785
Closed -$16.7M
BBL
29
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
– –
-301,302
Closed -$10.7M
CELG
30
DELISTED
Celgene Corp
CELG
– –
-1,621
Closed -$236K
FNSR
31
DELISTED
Finisar Corp
FNSR
– –
-70,000
Closed -$1.55M
AAN.A
32
DELISTED
The Aaron's Company Inc Class A
AAN.A
– –
-12,500
Closed -$545K
1
2

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Cheyne Capital Management (UK)'s Q4 2017 Portfolio in Review

As of Q4 2017, Cheyne Capital Management (UK) held 47 positions worth $230M, down 17% from $277M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Cheyne Capital Management (UK) withdrew a net $91.5M in Q4 2017, closing 13 positions and reducing 4 holdings. Its most notable exit was Dell, an estimated $21.9M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 31% of assets, up from 23% a quarter earlier, followed by Materials and Utilities.

Against the trend, Cheyne Capital Management (UK) opened a new position in Discovery, Inc. Series C Common Stock worth $23.5M.

  • Cheyne Capital Management (UK)'s largest Q4 2017 buy was Discovery, Inc. Series C Common Stock: 1,109,212 shares worth $23.5M.
  • Cheyne Capital Management (UK) added most to People Inc in Q4 2017, an estimated $15.4M increase.
  • Cheyne Capital Management (UK)'s biggest Q4 2017 reduction was Adamas Pharmaceuticals, cutting an estimated $3.6M.
  • Cheyne Capital Management (UK) fully exited Dell in Q4 2017, selling an estimated $21.9M.
  • Cheyne Capital Management (UK)'s ten largest holdings make up 74% of its $230M portfolio in Q4 2017.
  • Cheyne Capital Management (UK) opened 3 new positions and closed 13 in Q4 2017.
  • Cheyne Capital Management (UK)'s portfolio value fell 17% quarter-over-quarter to $230M.

Based on Cheyne Capital Management (UK)'s 13F filing for Q4 2017, filed 8 Feb 2018.