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CU
CQS (US) Portfolio holdings
AUM
$367M
Turnover
4.44%
1-Year Est. Return
8.85%
This Fund
S&P 500
This Quarter
Est. Return
+6.63%
1 Year Est. Return
+8.85%
3 Year Est. Return
+15.03%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.6B
AUM Growth
-$34.4M
(-2.1%)
Cap. Flow
-$685M
Cap. Flow
% of AUM
-42.77%
Top 10 Holdings %
Top 10 Hldgs %
33.17%
Holding
135
New
18
Increased
21
Reduced
25
Closed
13
Avg Time Held Equity + Options
0.5
years
Top 10 Avg Time Held Equity + Options
0.2
years
Top 20 Avg Time Held Equity + Options
0.2
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.3
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fox Class B
FOX
|
+$46.7M |
| 2 |
Citigroup
C
|
+$31.4M |
| 3 |
News Corp Class B
NWS
|
+$22.9M |
| 4 |
Liberty Global Class A
LBTYA
|
+$21M |
| 5 |
Simon Property Group
SPG
|
+$19.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$165M |
| 2 |
Royal Caribbean
RCL
|
+$23.7M |
| 3 |
VAR
Varian Medical Systems, Inc.
VAR
|
+$16.6M |
| 4 |
TIF
Tiffany & Co.
TIF
|
+$16.4M |
| 5 |
NAV
Navistar International
NAV
|
+$14.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 50.11% |
| 2 | Communication Services | 14.66% |
| 3 | Financials | 7.09% |
| 4 | Technology | 6.72% |
| 5 | Consumer Discretionary | 5.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Onity Group
ONIT
$220M
| $4.26M | 0.27% |
150,000
-31,141
| -17% | -$860K |
2020 Q3
2 quarters
|
|
|
STOR
52
DELISTED
STORE Capital Corporation
STOR
| $4.07M | 0.25% |
+121,500
| New | +$3.96M |
2021 Q1
0 quarters
|
|
53
Ryanair
RYAAY
$26.8B
| $3.75M | 0.23% |
82,195
+31,945
| +64% | +$1.38M |
2020 Q4
1 quarter
|
|
54
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $3.49M | 0.22% |
+40,000
| New | +$3.48M |
2021 Q1
0 quarters
|
|
55
Platinum Group Metals
PLG
$147M
| $3.37M | 0.21% |
883,365
| – | – |
2019 Q4
5 quarters
|
|
56
Energy Fuels
UUUU
$2.22B
| $2.51M | 0.16% |
441,997
| – | – |
2019 Q4
5 quarters
|
|
57
Visa
V
$750B
| $2.42M | 0.15% |
11,425
+1,822
| +19% | +$384K |
2019 Q4
5 quarters
|
|
58
Travel + Leisure Co
TNL
$3.96B
| $2.2M | 0.14% |
+36,000
| New | +$1.95M |
2021 Q1
0 quarters
|
|
59
Uranium Energy
UEC
$3.89B
| $2.19M | 0.14% |
764,341
| – | – |
2019 Q4
5 quarters
|
|
|
RDS.B
60
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $2.09M | 0.13% |
+56,404
| New | +$2.15M |
2021 Q1
0 quarters
|
|
61
Hilton Grand Vacations
HGV
$2.8B
| $1.86M | 0.12% |
+49,500
| New | +$1.78M |
2021 Q1
0 quarters
|
|
|
GSS
62
DELISTED
Golden Star Resources Ltd.
GSS
| $1.65M | 0.1% |
559,300
| – | – |
2020 Q4
1 quarter
|
|
63
Summit Midstream
SMC
$414M
| $1.34M | 0.08% |
+56,653
| New | +$1.16M |
2021 Q1
0 quarters
|
|
64
DELISTED
Arch Resources, Inc.
ARCH
| $1.3M | 0.08% |
31,300
| – | – |
2020 Q4
1 quarter
|
|
65
Idexx Laboratories
IDXX
$42.7B
| $1.24M | 0.08% |
2,540
+16
| +0.6% | +$8.02K |
2019 Q4
5 quarters
|
|
66
Rollins
ROL
$16.3B
| $1.23M | 0.08% |
35,774
-123,566
| -78% | -$4.43M |
2019 Q4
5 quarters
|
|
67
DELISTED
Golden Ocean Group
GOGL
| $1.23M | 0.08% |
+183,262
| New | +$1.1M |
2021 Q1
0 quarters
|
|
68
Expedia Group
EXPE
$35B
| $1.21M | 0.08% |
+7,000
| New | +$1.08M |
2021 Q1
0 quarters
|
|
|
MAG
69
DELISTED
MAG Silver
MAG
| $1.19M | 0.07% |
79,000
| – | – |
2019 Q4
5 quarters
|
|
|
PVG
70
DELISTED
PRETIUM RESOURCES INC.
PVG
| $1.11M | 0.07% |
106,926
| – | – |
2019 Q4
5 quarters
|
|
71
DELISTED
Hawaiian Holdings, Inc.
HA
| $1.08M | 0.07% |
+40,500
| New | +$960K |
2021 Q1
0 quarters
|
|
72
Four Corners Property Trust
FCPT
$2.4B
| $795K | 0.05% |
+29,025
| New | +$800K |
2021 Q1
0 quarters
|
|
73
CMB.TECH NV
CMBT
$5.24B
| $512K | 0.03% |
56,000
-600,000
| -91% | -$5.29M |
2020 Q4
1 quarter
|
|
74
First Majestic Silver
AG
$7.74B
| $485K | 0.03% |
31,140
-95,000
| -75% | -$1.52M |
2020 Q4
1 quarter
|
|
75
Alpha Metallurgical Resources
AMR
$2.13B
| $253K | 0.02% |
20,000
| – | – |
2019 Q4
5 quarters
|
|
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CQS (US)'s Q1 2021 Portfolio in Review
As of Q1 2021, CQS (US) held 135 positions worth $1.6B, down 2.1% from $1.64B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
CQS (US) withdrew a net $685M in Q1 2021, closing 13 positions and reducing 25 holdings. Its most notable exit was Royal Caribbean, an estimated $23.7M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 50% of assets, down from 55% a quarter earlier, followed by Communication Services and Financials.
Against the trend, CQS (US) opened a new position in Fox Class B worth $48.7M.
- CQS (US)'s largest Q1 2021 buy was Fox Class B: 1,393,063 shares worth $48.7M.
- CQS (US) added most to Liberty Global Class A in Q1 2021, an estimated $21M increase.
- CQS (US)'s biggest Q1 2021 reduction was Discovery, Inc. Series C Common Stock, cutting an estimated $165M.
- CQS (US) fully exited Royal Caribbean in Q1 2021, selling an estimated $23.7M.
- CQS (US)'s ten largest holdings make up 33% of its $1.6B portfolio in Q1 2021.
- CQS (US) opened 18 new positions and closed 13 in Q1 2021.
- CQS (US)'s portfolio value fell 2.1% quarter-over-quarter to $1.6B.
Based on CQS (US)'s 13F filing for Q1 2021, filed 7 May 2021.