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CC
CQS Cayman Portfolio holdings
AUM
$2.26B
Turnover
34.41%
1-Year Est. Return
1.31%
This Fund
S&P 500
This Quarter
Est. Return
-6.12%
1 Year Est. Return
+1.31%
3 Year Est. Return
+15.29%
5 Year Est. Return
+28.07%
10 Year Est. Return
–
AUM
$1.45B
AUM Growth
-$667M
(-31%)
Cap. Flow
-$696M
Cap. Flow
% of AUM
-47.9%
Top 10 Holdings %
Top 10 Hldgs %
41.37%
Holding
132
New
21
Increased
21
Reduced
14
Closed
26
Avg Time Held Equity + Options
1.3
years
Top 10 Avg Time Held Equity + Options
0.5
years
Top 20 Avg Time Held Equity + Options
0.5
years
Avg Time Held Equity only
1.3
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$138M |
| 2 |
Warner Bros
WBD
|
+$33.6M |
| 3 |
LGF.B
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
|
+$19.1M |
| 4 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$17.6M |
| 5 |
LEXEA
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
|
+$12.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Global Class C
LBTYK
|
+$26.2M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$16.7M |
| 3 |
People Inc
PPLI
|
+$12.4M |
| 4 |
Caesars Entertainment Corporation
CZR
|
+$9.08M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$9.04M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 64.52% |
| 2 | Communication Services | 20.71% |
| 3 | Materials | 2.99% |
| 4 | Energy | 2.53% |
| 5 | Technology | 2.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
DELISTED
Mr. Cooper
COOP
| $4.08M | 0.28% |
350,000
+83,349
| +31% | +$1.19M |
2018 Q3
1 quarter
|
|
|
WIN
27
DELISTED
Windstream Holdings Inc
WIN
| $4M | 0.28% |
1,914,861
+901,110
| +89% | +$3.36M |
2018 Q3
1 quarter
|
|
28
United Microelectronic
UMC
$52.5B
| $3.82M | 0.26% |
2,133,210
| – | – |
2013 Q2
22 quarters
|
|
29
Illumina
ILMN
$40.5B
| $3.67M | 0.25% |
+12,573
| New | +$3.89M |
2018 Q4
0 quarters
|
|
30
Rithm Capital
RITM
$4.86B
| $3.55M | 0.24% |
+250,000
| New | +$4.22M |
2018 Q4
0 quarters
|
|
|
ARRS
31
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| $3.53M | 0.24% |
+115,500
| New | +$3.21M |
2018 Q4
0 quarters
|
|
|
FTR
32
DELISTED
Frontier Communications Corp.
FTR
| $3.51M | 0.24% |
1,476,241
+634,741
| +75% | +$2.69M |
2017 Q4
4 quarters
|
|
33
Liberty Global Class A
LBTYA
$2.74B
| $3.24M | 0.22% |
+151,733
| New | +$3.72M |
2018 Q4
0 quarters
|
|
34
News Corp Class A
NWSA
$16.3B
| $3.23M | 0.22% |
284,703
-318,132
| -53% | -$4.07M |
2018 Q1
3 quarters
|
|
35
Altisource Portfolio Solutions
ASPS
$63.8M
| $3.13M | 0.22% |
17,400
+5,443
| +46% | +$1.1M |
2015 Q2
14 quarters
|
|
|
LLL
36
DELISTED
L3 Technologies, Inc.
LLL
| $3.08M | 0.21% |
+17,750
| New | +$3.42M |
2018 Q4
0 quarters
|
|
37
Chord Energy
CHRD
$8.11B
| $2.98M | 0.21% |
539,203
+20,000
| +4% | +$181K |
2018 Q1
3 quarters
|
|
38
Essent Group
ESNT
$5.73B
| $2.91M | 0.2% |
85,000
| – | – |
2018 Q1
3 quarters
|
|
39
Lennar Class B
LEN.B
$18.3B
| $2.84M | 0.2% |
95,241
+22,403
| +31% | +$737K |
2017 Q1
7 quarters
|
|
|
SHPG
40
DELISTED
Shire pic
SHPG
| $2.69M | 0.19% |
+15,500
| New | +$2.71M |
2018 Q4
0 quarters
|
|
41
DELISTED
Liberty Broadband Class C
LBRDK
| $2.65M | 0.18% |
+36,787
| New | +$2.95M |
2018 Q4
0 quarters
|
|
42
Onity Group
ONIT
$223M
| $2.56M | 0.18% |
127,430
+17,867
| +16% | +$735K |
2015 Q1
15 quarters
|
|
43
Radian Group
RDN
$4.45B
| $2.24M | 0.15% |
137,045
-2,955
| -2% | -$53.9K |
2018 Q1
3 quarters
|
|
44
Liberty Latin America Class C
LILAK
$1.6B
| $2.23M | 0.15% |
+178,916
| New | +$2.76M |
2018 Q4
0 quarters
|
|
45
DELISTED
Arch Resources, Inc.
ARCH
| $2.18M | 0.15% |
26,300
-16,700
| -39% | -$1.49M |
2016 Q4
8 quarters
|
|
|
PVG
46
DELISTED
PRETIUM RESOURCES INC.
PVG
| $2.1M | 0.14% |
249,000
| – | – |
2016 Q1
11 quarters
|
|
|
ORBK
47
DELISTED
Orbotech Ltd
ORBK
| $1.5M | 0.1% |
26,500
-73,000
| -73% | -$4.08M |
2018 Q2
2 quarters
|
|
|
TVPT
48
DELISTED
Travelport Worldwide Limited
TVPT
| $1.49M | 0.1% |
+95,500
| New | +$1.46M |
2018 Q4
0 quarters
|
|
49
Alpha Metallurgical Resources
AMR
$2.15B
| $1.31M | 0.09% |
+20,000
| New | +$1.34M |
2018 Q4
0 quarters
|
|
50
Energy Fuels
UUUU
$2.27B
| $1.26M | 0.09% |
441,997
| – | – |
2015 Q2
14 quarters
|
|
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CQS Cayman's Q4 2018 Portfolio in Review
As of Q4 2018, CQS Cayman held 132 positions worth $1.45B, down 31% from $2.12B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
CQS Cayman withdrew a net $696M in Q4 2018, closing 26 positions and reducing 14 holdings. Its most notable exit was Liberty Global Class C, an estimated $26.2M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 65% of assets, down from 70% a quarter earlier, followed by Communication Services and Materials.
Against the trend, CQS Cayman opened a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF worth $138M.
- CQS Cayman's largest Q4 2018 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 1,225,000 shares worth $138M.
- CQS Cayman added most to Lions Gate Entertainment Corp. Class B Non-Voting Shares in Q4 2018, an estimated $19.1M increase.
- CQS Cayman's biggest Q4 2018 reduction was Twenty-First Century Fox, Inc. Class B, cutting an estimated $16.7M.
- CQS Cayman fully exited Liberty Global Class C in Q4 2018, selling an estimated $26.2M.
- CQS Cayman's ten largest holdings make up 41% of its $1.45B portfolio in Q4 2018.
- CQS Cayman opened 21 new positions and closed 26 in Q4 2018.
- CQS Cayman's portfolio value fell 31% quarter-over-quarter to $1.45B.
Based on CQS Cayman's 13F filing for Q4 2018, filed 13 Feb 2019.