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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
+6.98%
1 Year Est. Return
+8.85%
3 Year Est. Return
+15.03%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.64B
AUM Growth
+$279M
Cap. Flow
-$692M
Cap. Flow %
-42.28%
Top 10 Hldgs %
36.94%
Holding
139
New
26
Increased
15
Reduced
24
Closed
26

Top Buys

Rank Stock Value
1
ADSW
Advanced Disposal Services Inc
ADSW
+$25.2M
2
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$25.2M
3
UAL icon
United Airlines
UAL
+$20.8M
4
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$12.5M
5
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$9.91M

Top Sells

Rank Stock Value
1
LBTYK icon
Liberty Global Class C
LBTYK
+$22.6M
2
MRK icon
Merck
MRK
+$21.5M
3
JNJ icon
Johnson & Johnson
JNJ
+$21.3M
4
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
+$19M
5
KMB icon
Kimberly-Clark
KMB
+$16.9M

Sector Composition

Rank Sector Weight
1 Miscellaneous 75.8%
2 Communication Services 4.85%
3 Industrials 4.81%
4 Technology 3.08%
5 Consumer Discretionary 2.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CFXA
101
DELISTED
Colfax Corporation 5.75% Tangible Equity Units
CFXA
– –
-75,000
Closed -$6.92M
CHK
102
DELISTED
Chesapeake Energy Corporation
CHK
– –
-2,007
Closed -$69K
OIBR.C
103
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
– –
-1,102,721
Closed -$484K
DO
104
DELISTED
Diamond Offshore Drilling
DO
– –
-105,804
Closed -$194K
1 2 3 4
5

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GH
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VFPI
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RMC
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CQS (US)'s Q2 2020 Portfolio in Review

As of Q2 2020, CQS (US) held 139 positions worth $1.64B, up 21% from $1.36B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

CQS (US) withdrew a net $692M in Q2 2020, closing 26 positions and reducing 24 holdings. Its most notable exit was Liberty Global Class C, an estimated $22.6M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 76% of assets, up from 73% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, CQS (US) opened a new position in Advanced Disposal Services Inc worth $23.8M.

  • CQS (US)'s largest Q2 2020 buy was Advanced Disposal Services Inc: 790,000 shares worth $23.8M.
  • CQS (US) added most to Discovery, Inc. Series C Common Stock in Q2 2020, an estimated $25.2M increase.
  • CQS (US)'s biggest Q2 2020 reduction was Liberty Media Corporation Series A Liberty SiriusXM Common Stock, cutting an estimated $19M.
  • CQS (US) fully exited Liberty Global Class C in Q2 2020, selling an estimated $22.6M.
  • CQS (US)'s ten largest holdings make up 37% of its $1.64B portfolio in Q2 2020.
  • CQS (US) opened 26 new positions and closed 26 in Q2 2020.
  • CQS (US)'s portfolio value rose 21% quarter-over-quarter to $1.64B.

Based on CQS (US)'s 13F filing for Q2 2020, filed 7 Aug 2020.