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KSCM
Key Square Capital Management Portfolio holdings
AUM
$14.2M
1-Year Est. Return
21.27%
This Fund
S&P 500
This Quarter
Est. Return
+6.34%
1 Year Est. Return
+21.27%
3 Year Est. Return
+50.18%
5 Year Est. Return
+762.23%
10 Year Est. Return
–
AUM
$275M
AUM Growth
-$17.8M
(-6.1%)
Cap. Flow
-$30.5M
Cap. Flow
% of AUM
-11.09%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
13
New
3
Increased
1
Reduced
4
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Televisa
TV
|
+$39.8M |
| 2 |
HUTCHMED
HCM
|
+$31.5M |
| 3 |
I
INTELSAT S. A.
I
|
+$13.9M |
| 4 |
LINX
Linx S.A.
LINX
|
+$13.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wells Fargo
WFC
|
+$71.4M |
| 2 |
Telecom Argentina
TEO
|
+$25M |
| 3 |
Sinclair Inc
SBGI
|
+$22.8M |
| 4 |
DISH
DISH Network Corp.
DISH
|
+$3.23M |
| 5 |
Corporacion America
CAAP
|
+$2.12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 57.13% |
| 2 | Energy | 13.69% |
| 3 | Healthcare | 8.83% |
| 4 | Technology | 4.98% |
| 5 | Industrials | 4.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DISH
1
DELISTED
DISH Network Corp.
DISH
| $112M | 40.82% |
2,920,548
-90,871
| -3% | -$3.23M |
|
2
Cheniere Energy
LNG
$55B
| $37.6M | 13.69% |
549,808
-17,107
| -3% | -$1.13M |
|
|
3
Televisa
TV
$1.45B
| $34.5M | 12.55% |
+4,086,354
| New | +$39.8M |
|
|
I
4
DELISTED
INTELSAT S. A.
I
| $26.9M | 9.77% |
1,381,040
+718,187
| +108% | +$13.9M |
|
|
5
HUTCHMED
HCM
$1.95B
| $24.3M | 8.83% |
+1,102,872
| New | +$31.5M |
|
|
LINX
6
DELISTED
Linx S.A.
LINX
| $13.7M | 4.98% |
+1,500,000
| New | +$13.5M |
|
|
7
Corporacion America
CAAP
$4.04B
| $11.6M | 4.24% |
1,443,044
-273,116
| -16% | -$2.12M |
|
|
8
Telecom Argentina
TEO
$5.67B
| $10.3M | 3.77% |
585,707
-1,637,065
| -74% | -$25M |
|
|
IPOA.U
9
DELISTED
Social Capital Hedosophia Holdings Corp.
IPOA.U
| $3.74M | 1.36% |
350,000
| – | – |
|
|
10
Sinclair Inc
SBGI
$997M
| – | – |
-592,356
| Closed | -$22.8M |
|
11
VEON
VEON
$3.58B
| – | – |
-30,913
| Closed | -$1.61M |
|
|
12
Wells Fargo
WFC
$266B
| – | – |
-1,477,600
| Closed | -$71.4M |
|
|
GOL
13
DELISTED
Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares)
GOL
| – | – |
-150,000
| Closed | -$1.96M |
|
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Key Square Capital Management's Q2 2019 Portfolio in Review
As of Q2 2019, Key Square Capital Management held 13 positions worth $275M, down 6.1% from $293M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Key Square Capital Management withdrew a net $30.5M in Q2 2019, closing 4 positions and reducing 4 holdings. Its most notable exit was Wells Fargo, an estimated $71.4M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 57% of assets, up from 52% a quarter earlier, followed by Energy and Healthcare.
Against the trend, Key Square Capital Management opened a new position in Televisa worth $34.5M.
- Key Square Capital Management's largest Q2 2019 buy was Televisa: 4,086,354 shares worth $34.5M.
- Key Square Capital Management added most to INTELSAT S. A. in Q2 2019, an estimated $13.9M increase.
- Key Square Capital Management's biggest Q2 2019 reduction was Telecom Argentina, cutting an estimated $25M.
- Key Square Capital Management fully exited Wells Fargo in Q2 2019, selling an estimated $71.4M.
- Key Square Capital Management's ten largest holdings make up 100% of its $275M portfolio in Q2 2019.
- Key Square Capital Management opened 3 new positions and closed 4 in Q2 2019.
- Key Square Capital Management's portfolio value fell 6.1% quarter-over-quarter to $275M.
Based on Key Square Capital Management's 13F filing for Q2 2019, filed 13 Aug 2019.