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CQS (US) Portfolio holdings
AUM
$367M
Turnover
4.44%
1-Year Est. Return
8.85%
This Fund
S&P 500
This Quarter Est. Return
+0.75%
1 Year Est. Return
+8.85%
3 Year Est. Return
+15.03%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$388M
AUM Growth
-$610M
(-61%)
Cap. Flow
-$815M
Cap. Flow % of AUM
Cap. Flow %
-209.82%
Top 10 Holdings %
Top 10 Hldgs %
63.03%
Holding
69
New
1
Increased
–
Reduced
3
Closed
22
Avg Time Held
Equity + Options
2
years
Top 10 Avg Time Held
Equity + Options
0.3
years
Top 20 Avg Time Held
Equity + Options
0.8
years
Avg Time Held Equity only
2
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sigma Lithium
SGML
|
+$2.23M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$110M |
| 2 |
Carnival PLC
CUK
|
+$57.3M |
| 3 |
Liberty Broadband Class C
LBRDK
|
+$52.2M |
| 4 |
Lennar Class A
LEN
|
+$40M |
| 5 |
VanEck Gold Miners ETF
GDX
|
+$36M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 80.38% |
| 2 | Energy | 11.26% |
| 3 | Materials | 8.36% |
| 4 | Consumer Staples | 0% |
| 5 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Ur-Energy
URG
$244M
| $19.5M | 5.01% |
12,159,798
-846,755
| -7% | -$1.41M |
2019 Q4
17 quarters
|
|
2
Uranium Energy
UEC
$3.3B
| $10.8M | 2.78% |
1,599,865
| – | – |
2019 Q4
17 quarters
|
|
3
Transocean
RIG
$6.19B
| $8.13M | 2.09% |
1,295,000
| – | – |
2022 Q2
7 quarters
|
|
4
Diamondback Energy
FANG
$51.6B
| $7.67M | 1.97% |
38,700
| – | – |
2021 Q4
9 quarters
|
|
5
Cameco
CCJ
$30.8B
| $5.85M | 1.51% |
135,000
-343,449
| -72% | -$15.1M |
2022 Q1
8 quarters
|
|
6
EOG Resources
EOG
$82.1B
| $5.45M | 1.4% |
42,600
| – | – |
2021 Q4
9 quarters
|
|
7
Energy Fuels
UUUU
$1.75B
| $3.79M | 0.98% |
602,697
| – | – |
2019 Q4
17 quarters
|
|
8
Wheaton Precious Metals
WPM
$59.7B
| $3.58M | 0.92% |
76,000
| – | – |
2022 Q3
6 quarters
|
|
9
Peabody Energy
BTU
$2.12B
| $3.15M | 0.81% |
130,000
| – | – |
2021 Q4
9 quarters
|
|
10
DELISTED
Pioneer Natural Resource Co.
PXD
| $2.62M | 0.68% |
10,000
| – | – |
2022 Q2
7 quarters
|
|
11
OR Royalties Inc
OR
$6.5B
| $1.64M | 0.42% |
100,000
| – | – |
2023 Q2
3 quarters
|
|
|
12
Sigma Lithium
SGML
$580M
| $1.62M | 0.42% |
+125,000
| New | +$2.23M |
2024 Q1
0 quarters
|
|
|
MAG
13
DELISTED
MAG Silver
MAG
| $1.21M | 0.31% |
114,000
| – | – |
2019 Q4
17 quarters
|
|
14
Platinum Group Metals
PLG
$136M
| $1.03M | 0.27% |
883,365
| – | – |
2019 Q4
17 quarters
|
|
15
Goldgroup Mining
GORO
$544M
| $137K | 0.04% |
78,995
| – | – |
2021 Q4
9 quarters
|
|
16
Greenfire Resources
GFR
$1.86B
| $66K | 0.02% |
11,051
-5,601
| -34% | -$30.8K |
2023 Q3
2 quarters
|
|
17
PUT
ARK Innovation ETF
ARKK
$5.95B
| – | – |
-1,300,000
| Closed | -$68.1M | – |
|
18
Berkshire Hathaway Class B
BRK.B
$1.26T
| – | – |
-89,076
| Closed | -$31.8M | – |
|
19
Central Garden & Pet Co Class A
CENTA
$2.53B
| – | – |
-354,566
| Closed | -$12.5M | – |
|
|
20
DELISTED
Carnival PLC
CUK
| – | – |
-3,383,735
| Closed | -$57.3M | – |
|
21
DELISTED
Clearway Energy Class A
CWEN.A
| – | – |
-405,105
| Closed | -$10.4M | – |
|
22
PUT
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.6B
| – | – |
-50,000
| Closed | -$18.8M | – |
|
23
Fox Class B
FOX
$25.8B
| – | – |
-495,380
| Closed | -$13.7M | – |
|
24
Liberty Media Corporation Series A Common Stock
FWONA
$26.6B
| – | – |
-293,436
| Closed | -$17M | – |
|
|
25
VanEck Gold Miners ETF
GDX
$25.3B
| – | – |
-1,160,813
| Closed | -$36M | – |
|
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CQS (US)'s Q1 2024 Portfolio in Review
As of Q1 2024, CQS (US) held 69 positions worth $388M, down 61% from $999M the previous quarter. Its ten largest holdings account for 63% of the portfolio.
CQS (US) withdrew a net $815M in Q1 2024, closing 22 positions and reducing 3 holdings. Its most notable exit was Alphabet (Google) Class A, an estimated $110M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, up from 47% a quarter earlier, followed by Energy and Materials.
Against the trend, CQS (US) opened a new position in Sigma Lithium worth $1.62M.
- CQS (US)'s largest Q1 2024 buy was Sigma Lithium: 125,000 shares worth $1.62M.
- CQS (US)'s biggest Q1 2024 reduction was Cameco, cutting an estimated $15.1M.
- CQS (US) fully exited Alphabet (Google) Class A in Q1 2024, selling an estimated $110M.
- CQS (US)'s ten largest holdings make up 63% of its $388M portfolio in Q1 2024.
- CQS (US) opened 1 new position and closed 22 in Q1 2024.
- CQS (US)'s portfolio value fell 61% quarter-over-quarter to $388M.
Based on CQS (US)'s 13F filing for Q1 2024, filed 8 May 2024.