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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
+0.05%
1 Year Est. Return
+8.85%
3 Year Est. Return
+15.03%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.75B
AUM Growth
-$49.8M
Cap. Flow
-$851M
Cap. Flow %
-48.62%
Top 10 Hldgs %
34.21%
Holding
131
New
9
Increased
15
Reduced
14
Closed
10

Top Buys

Rank Stock Value
1
BHP icon
BHP
BHP
+$29.9M
2
FOX icon
Fox Class B
FOX
+$25.8M
3
INFO
IHS Markit Ltd. Common Shares
INFO
+$16.4M
4
ATC
Atotech Limited
ATC
+$13.7M
5
KSU
Kansas City Southern
KSU
+$10.6M

Top Sells

Rank Stock Value
1
ALXN
Alexion Pharmaceuticals
ALXN
+$35.4M
2
WORK
Slack Technologies, Inc.
WORK
+$35.2M
3
MXIM
Maxim Integrated Products
MXIM
+$32.3M
4
XLNX
Xilinx Inc
XLNX
+$26.9M
5
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$18M

Sector Composition

Rank Sector Weight
1 Communication Services 11.32%
2 Financials 5.25%
3 Materials 3.83%
4 Technology 3.03%
5 Consumer Discretionary 2.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MAG
51
DELISTED
MAG Silver
MAG
$1.28M 0.07%
79,000
– –
ONIT
52
Onity Group
ONIT
$333M
$1.27M 0.07%
45,000
– –
PVG
53
DELISTED
PRETIUM RESOURCES INC.
PVG
$1.03M 0.06%
106,926
– –
AMR icon
54
Alpha Metallurgical Resources
AMR
$1.82B
$996K 0.06%
20,000
– –
FCPT icon
55
Four Corners Property Trust
FCPT
$2.86B
$780K 0.04%
29,025
– –
BBLN
56
DELISTED
Babylon Holdings Limited
BBLN
$701K 0.04%
2,816
-459
-14% -$114K
AG icon
57
First Majestic Silver
AG
$8.05B
$352K 0.02%
31,140
– –
EXPE icon
58
Expedia Group
EXPE
$31.2B
– –
-5,800
Closed -$949K
ZS icon
59
Zscaler
ZS
$23B
– –
-17,100
Closed -$3.69M
XLNX
60
DELISTED
Xilinx Inc
XLNX
– –
-185,984
Closed -$26.9M
RDS.A
61
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
– –
-53,095
Closed -$2.14M
PFPT
62
DELISTED
Proofpoint, Inc.
PFPT
– –
-55,931
Closed -$9.72M
MXIM
63
DELISTED
Maxim Integrated Products
MXIM
– –
-306,737
Closed -$32.3M
ALXN
64
DELISTED
Alexion Pharmaceuticals
ALXN
– –
-192,722
Closed -$35.4M
WORK
65
DELISTED
Slack Technologies, Inc.
WORK
– –
-795,150
Closed -$35.2M
PRAH
66
DELISTED
PRA Health Sciences, Inc.
PRAH
– –
-38,543
Closed -$6.37M
BBL
67
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
– –
-78,074
Closed -$4.63M
1 2
3

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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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GFWEX
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CQS (US)'s Q3 2021 Portfolio in Review

As of Q3 2021, CQS (US) held 131 positions worth $1.75B, down 2.8% from $1.8B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

CQS (US) withdrew a net $851M in Q3 2021, closing 10 positions and reducing 14 holdings. Its most notable exit was Alexion Pharmaceuticals, an estimated $35.4M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 11% of assets, up from 9% a quarter earlier, followed by Financials and Materials.

Against the trend, CQS (US) opened a new position in IHS Markit Ltd. Common Shares worth $16.2M.

  • CQS (US)'s largest Q3 2021 buy was IHS Markit Ltd. Common Shares: 138,889 shares worth $16.2M.
  • CQS (US) added most to BHP in Q3 2021, an estimated $29.9M increase.
  • CQS (US)'s biggest Q3 2021 reduction was Discovery, Inc. Series C Common Stock, cutting an estimated $18M.
  • CQS (US) fully exited Alexion Pharmaceuticals in Q3 2021, selling an estimated $35.4M.
  • CQS (US)'s ten largest holdings make up 34% of its $1.75B portfolio in Q3 2021.
  • CQS (US) opened 9 new positions and closed 10 in Q3 2021.
  • CQS (US)'s portfolio value fell 2.8% quarter-over-quarter to $1.75B.

Based on CQS (US)'s 13F filing for Q3 2021, filed 12 Nov 2021.