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CQS (US) Portfolio holdings

AUM $367M
1-Year Est. Return 8.85%
This Fund
S&P 500
This Quarter Est. Return
-2.85%
1 Year Est. Return
+8.85%
3 Year Est. Return
+15.03%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$860M
AUM Growth
-$69.9M
Cap. Flow
-$586M
Cap. Flow %
-68.13%
Top 10 Hldgs %
45.33%
Holding
95
New
3
Increased
11
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$25.6M
2
CUK
Carnival PLC
CUK
+$10.1M
3
LBRDK
Liberty Broadband Class C
LBRDK
+$10.1M
4
RIG icon
Transocean
RIG
+$8.02M
5
LBTYA icon
Liberty Global Class A
LBTYA
+$5.76M

Top Sells

Rank Stock Value
1
EOG icon
EOG Resources
EOG
+$11.9M
2
OSG
Octave Specialty Group
OSG
+$11.2M
3
LBRDA
Liberty Broadband Class A
LBRDA
+$8.27M
4
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$2.47M
5
FOX icon
Fox Class B
FOX
+$1.54M

Sector Composition

Rank Sector Weight
1 Miscellaneous 66.73%
2 Communication Services 17.27%
3 Energy 5.7%
4 Materials 2.9%
5 Technology 2.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MAG
26
DELISTED
MAG Silver
MAG
$2.92M 0.34%
234,000
+30,000
+15% +$371K
LGF.B
27
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
$2.31M 0.27%
331,649
-21,591
-6% -$196K
PXD
28
DELISTED
Pioneer Natural Resource Co.
PXD
$2.17M 0.25%
10,000
– –
GRFS
29
Grifois
GRFS
$5.23B
$1.71M 0.2%
271,230
– –
PLG
30
Platinum Group Metals
PLG
$189M
$1.43M 0.17%
883,365
– –
WPM icon
31
Wheaton Precious Metals
WPM
$69.6B
$971K 0.11%
+30,000
New +$985K
CMBT
32
CMB.TECH NV
CMBT
$5.32B
$874K 0.1%
56,800
-14,200
-20% -$216K
GORO icon
33
Goldgroup Mining
GORO
$492M
$525K 0.06%
315,978
– –
SBSW icon
34
Sibanye-Stillwater
SBSW
$8.56B
$326K 0.04%
35,000
– –
UA icon
35
Under Armour Class C
UA
$2.12B
$232K 0.03%
38,960
+17,200
+79% +$135K
AG icon
36
First Majestic Silver
AG
$10.2B
– –
-31,140
Closed -$224K
LBRDA
37
DELISTED
Liberty Broadband Class A
LBRDA
– –
-72,865
Closed -$8.27M
PARAA
38
DELISTED
Paramount Global Class A
PARAA
– –
-50,938
Closed -$1.39M
1
2

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LWMG
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GH
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VFPI
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RMC
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KS
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OH
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GFWEX
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CQS (US)'s Q3 2022 Portfolio in Review

As of Q3 2022, CQS (US) held 95 positions worth $860M, down 7.5% from $930M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

CQS (US) withdrew a net $586M in Q3 2022, closing 3 positions and reducing 7 holdings. Its most notable exit was Liberty Broadband Class A, an estimated $8.27M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 67% of assets, down from 70% a quarter earlier, followed by Communication Services and Energy.

Against the trend, CQS (US) opened a new position in TSMC worth $21.3M.

  • CQS (US)'s largest Q3 2022 buy was TSMC: 310,000 shares worth $21.3M.
  • CQS (US) added most to Carnival PLC in Q3 2022, an estimated $10.1M increase.
  • CQS (US)'s biggest Q3 2022 reduction was EOG Resources, cutting an estimated $11.9M.
  • CQS (US) fully exited Liberty Broadband Class A in Q3 2022, selling an estimated $8.27M.
  • CQS (US)'s ten largest holdings make up 45% of its $860M portfolio in Q3 2022.
  • CQS (US) opened 3 new positions and closed 3 in Q3 2022.
  • CQS (US)'s portfolio value fell 7.5% quarter-over-quarter to $860M.

Based on CQS (US)'s 13F filing for Q3 2022, filed 9 Nov 2022.