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Key Square Capital Management Portfolio holdings
AUM
$14.2M
1-Year Est. Return
21.27%
This Fund
S&P 500
This Quarter
Est. Return
+12.66%
1 Year Est. Return
+21.27%
3 Year Est. Return
+50.18%
5 Year Est. Return
+762.23%
10 Year Est. Return
–
AUM
$1.04B
AUM Growth
+$424M
(+69%)
Cap. Flow
+$333M
Cap. Flow
% of AUM
32.04%
Top 10 Holdings %
Top 10 Hldgs %
79.72%
Holding
45
New
22
Increased
2
Reduced
4
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$90.1M |
| 2 |
SLB Ltd
SLB
|
+$62.7M |
| 3 |
EOG Resources
EOG
|
+$61.9M |
| 4 |
Wells Fargo
WFC
|
+$55.3M |
| 5 |
Cisco
CSCO
|
+$55.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$61.7M |
| 2 |
Gilead Sciences
GILD
|
+$50.1M |
| 3 |
JPMorgan Chase
JPM
|
+$28.9M |
| 4 |
Galicia Financial Group
GGAL
|
+$28.7M |
| 5 |
First Solar
FSLR
|
+$23.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 48.97% |
| 2 | Energy | 27.45% |
| 3 | Communication Services | 12.02% |
| 4 | Technology | 8.49% |
| 5 | Industrials | 1.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Bank of America
BAC
$424B
| $264M | 25.35% |
8,939,379
+3,267,355
| +58% | +$90.1M |
|
|
2
JPMorgan Chase
JPM
$901B
| $103M | 9.92% |
965,677
-285,447
| -23% | -$28.9M |
|
|
TWTR
3
DELISTED
Twitter, Inc.
TWTR
| $80.9M | 7.77% |
3,367,882
+2,157,882
| +178% | +$44.3M |
|
|
4
EOG Resources
EOG
$75.1B
| $66.3M | 6.37% |
+614,668
| New | +$61.9M |
|
|
5
SLB Ltd
SLB
$69.4B
| $65.3M | 6.27% |
+968,262
| New | +$62.7M |
|
|
6
Wells Fargo
WFC
$261B
| $59.5M | 5.71% |
+980,000
| New | +$55.3M |
|
|
7
Cisco
CSCO
$436B
| $59.1M | 5.68% |
+1,543,180
| New | +$55.1M |
|
8
Citigroup
C
$216B
| $44.8M | 4.3% |
601,883
-180,117
| -23% | -$13.3M |
|
|
TWX
9
DELISTED
Time Warner Inc
TWX
| $44.3M | 4.25% |
+484,009
| New | +$45.7M |
|
10
Halliburton
HAL
$29.3B
| $42.6M | 4.09% |
+870,707
| New | +$38.4M |
|
11
Salesforce
CRM
$142B
| $23.4M | 2.25% |
228,579
-24,151
| -10% | -$2.46M |
|
12
Zions Bancorporation
ZION
$10.6B
| $18.7M | 1.8% |
+367,829
| New | +$17.6M |
|
|
PXD
13
DELISTED
Pioneer Natural Resource Co.
PXD
| $18.2M | 1.75% |
+105,500
| New | +$16.3M |
|
|
RSPP
14
DELISTED
RSP Permian, Inc.
RSPP
| $18.2M | 1.75% |
+447,228
| New | +$16.1M |
|
|
PE
15
DELISTED
PARSLEY ENERGY INC
PE
| $17.9M | 1.72% |
+608,107
| New | +$16.2M |
|
|
CPE
16
DELISTED
Callon Petroleum Company
CPE
| $15.8M | 1.52% |
+130,178
| New | +$14.4M |
|
|
UPL
17
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $11.7M | 1.12% |
+1,286,877
| New | +$11.2M |
|
18
Pampa Energía
PAM
$4.52B
| $11.5M | 1.11% |
171,511
-128,489
| -43% | -$8.45M |
|
|
CRC
19
DELISTED
California Resources Corporation
CRC
| $10.5M | 1.01% |
+538,610
| New | +$7.56M |
|
20
State Street SPDR S&P Regional Banking ETF
KRE
$4.87B
| $9.73M | 0.93% |
+165,300
| New | +$9.5M |
|
21
NOV
NOV
$7.02B
| $8.7M | 0.84% |
+241,398
| New | +$8.17M |
|
22
Patterson-UTI
PTEN
$3.83B
| $7.9M | 0.76% |
+343,271
| New | +$7.11M |
|
|
CIT
23
DELISTED
CIT Group Inc.
CIT
| $7.89M | 0.76% |
+160,200
| New | +$7.77M |
|
|
SLCA
24
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
| $6.95M | 0.67% |
+213,463
| New | +$6.8M |
|
25
Core Laboratories
CLB
$516M
| $6.55M | 0.63% |
+59,790
| New | +$5.97M |
|
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Key Square Capital Management's Q4 2017 Portfolio in Review
As of Q4 2017, Key Square Capital Management held 45 positions worth $1.04B, up 69% from $617M the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Key Square Capital Management deployed $333M of net new capital in Q4 2017, opening 22 new positions and adding to 2 existing holdings. Its largest new stake was SLB Ltd: 968,262 shares worth $65.3M.
By sector, the portfolio is most concentrated in Financials at 49% of assets, down from 60% a quarter earlier, followed by Energy and Communication Services.
On the sell side, the largest reduction was JPMorgan Chase, an estimated $28.9M trimmed.
- Key Square Capital Management's largest Q4 2017 buy was SLB Ltd: 968,262 shares worth $65.3M.
- Key Square Capital Management added most to Bank of America in Q4 2017, an estimated $90.1M increase.
- Key Square Capital Management's biggest Q4 2017 reduction was JPMorgan Chase, cutting an estimated $28.9M.
- Key Square Capital Management fully exited Monsanto Co in Q4 2017, selling an estimated $61.7M.
- Key Square Capital Management's ten largest holdings make up 80% of its $1.04B portfolio in Q4 2017.
- Key Square Capital Management opened 22 new positions and closed 16 in Q4 2017.
- Key Square Capital Management's portfolio value rose 69% quarter-over-quarter to $1.04B.
Based on Key Square Capital Management's 13F filing for Q4 2017, filed 6 Feb 2018.