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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
+2.83%
1 Year Est. Return
+8.85%
3 Year Est. Return
+15.03%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.8B
AUM Growth
+$198M
(+12%)
Cap. Flow
-$718M
Cap. Flow
% of AUM
-39.87%
Top 10 Holdings %
Top 10 Hldgs %
32.45%
Holding
149
New
13
Increased
19
Reduced
12
Closed
30
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
0.3
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
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Palo Alto Networks
PANW
|
+$17.7M |
| 2 |
VanEck Gold Miners ETF
GDX
|
+$15.6M |
| 3 |
Octave Specialty Group
OSG
|
+$14.3M |
| 4 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$13.6M |
| 5 |
MXIM
Maxim Integrated Products
MXIM
|
+$13M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BHP
BHP
|
+$39.2M |
| 2 |
Otis Worldwide
OTIS
|
+$13.9M |
| 3 |
Simon Property Group
SPG
|
+$13.7M |
| 4 |
CME Group
CME
|
+$12.9M |
| 5 |
FLIR
FLIR Systems, Inc. (DE) Common Stock
FLIR
|
+$12.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 62.72% |
| 2 | Communication Services | 12.97% |
| 3 | Technology | 7.8% |
| 4 | Financials | 4.9% |
| 5 | Healthcare | 3.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Onity Group
ONIT
$212M
| $1.39M | 0.08% |
45,000
-105,000
| -70% | -$3.19M |
2020 Q3
3 quarters
|
|
52
Zillow
ZG
$6.58B
| $1.29M | 0.07% |
+10,505
| New | +$1.3M |
2021 Q2
0 quarters
|
|
|
PVG
53
DELISTED
PRETIUM RESOURCES INC.
PVG
| $1.02M | 0.06% |
106,926
| – | – |
2019 Q4
6 quarters
|
|
54
Expedia Group
EXPE
$33B
| $949K | 0.05% |
5,800
-1,200
| -17% | -$206K |
2021 Q1
1 quarter
|
|
|
BBLN
55
DELISTED
Babylon Holdings Limited
BBLN
| $810K | 0.05% |
+3,275
| New | +$804K |
2021 Q2
0 quarters
|
|
56
Four Corners Property Trust
FCPT
$2.35B
| $801K | 0.04% |
29,025
| – | – |
2021 Q1
1 quarter
|
|
57
Alpha Metallurgical Resources
AMR
$2.21B
| $512K | 0.03% |
20,000
| – | – |
2019 Q4
6 quarters
|
|
58
First Majestic Silver
AG
$7.52B
| $492K | 0.03% |
31,140
| – | – |
2020 Q4
2 quarters
|
|
59
Abbott
ABT
$178B
| – | – |
-94,993
| Closed | -$11.4M | – |
|
60
Accenture
ACN
$132B
| – | – |
-38,512
| Closed | -$10.6M | – |
|
61
Adobe
ADBE
$93.7B
| – | – |
-17,809
| Closed | -$8.46M | – |
|
62
DELISTED
Ansys
ANSS
| – | – |
-27,777
| Closed | -$9.43M | – |
|
63
Booking.com
BKNG
$121B
| – | – |
-135,875
| Closed | -$12.7M | – |
|
|
64
CME Group
CME
$103B
| – | – |
-63,294
| Closed | -$12.9M | – |
|
65
Cognizant
CTSH
$28.1B
| – | – |
-160,074
| Closed | -$12.5M | – |
|
66
Ecolab
ECL
$80.7B
| – | – |
-38,006
| Closed | -$8.14M | – |
|
67
Estee Lauder
EL
$36.8B
| – | – |
-24,549
| Closed | -$7.14M | – |
|
68
Graco
GGG
$13B
| – | – |
-117,240
| Closed | -$8.4M | – |
|
69
DELISTED
Golden Ocean Group
GOGL
| – | – |
-183,262
| Closed | -$1.23M | – |
|
70
Alphabet (Google) Class A
GOOGL
$4.25T
| – | – |
-109,020
| Closed | -$11.2M | – |
|
71
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| – | – |
-40,000
| Closed | -$3.49M | – |
|
72
Idexx Laboratories
IDXX
$41.7B
| – | – |
-2,540
| Closed | -$1.24M | – |
|
73
Lowe's Companies
LOW
$106B
| – | – |
-33,749
| Closed | -$6.42M | – |
|
74
Mastercard
MA
$528B
| – | – |
-33,703
| Closed | -$12M | – |
|
75
Moody's
MCO
$80.1B
| – | – |
-22,916
| Closed | -$6.84M | – |
|
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CQS (US)'s Q2 2021 Portfolio in Review
As of Q2 2021, CQS (US) held 149 positions worth $1.8B, up 12% from $1.6B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
CQS (US) withdrew a net $718M in Q2 2021, closing 30 positions and reducing 12 holdings. Its most notable exit was Otis Worldwide, an estimated $13.9M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 63% of assets, up from 50% a quarter earlier, followed by Communication Services and Technology.
Against the trend, CQS (US) opened a new position in Palo Alto Networks worth $18.4M.
- CQS (US)'s largest Q2 2021 buy was Palo Alto Networks: 298,200 shares worth $18.4M.
- CQS (US) added most to Octave Specialty Group in Q2 2021, an estimated $14.3M increase.
- CQS (US)'s biggest Q2 2021 reduction was BHP, cutting an estimated $39.2M.
- CQS (US) fully exited Otis Worldwide in Q2 2021, selling an estimated $13.9M.
- CQS (US)'s ten largest holdings make up 32% of its $1.8B portfolio in Q2 2021.
- CQS (US) opened 13 new positions and closed 30 in Q2 2021.
- CQS (US)'s portfolio value rose 12% quarter-over-quarter to $1.8B.
Based on CQS (US)'s 13F filing for Q2 2021, filed 10 Aug 2021.