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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
+11.68%
1 Year Est. Return
+21.27%
3 Year Est. Return
+50.18%
5 Year Est. Return
+762.23%
10 Year Est. Return
–
AUM
$529M
AUM Growth
-$58.4M
(-9.9%)
Cap. Flow
-$112M
Cap. Flow
% of AUM
-21.1%
Top 10 Holdings %
Top 10 Hldgs %
67.48%
Holding
46
New
17
Increased
4
Reduced
7
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Biotechnology ETF
IBB
|
+$31.9M |
| 2 |
FedEx
FDX
|
+$28.9M |
| 3 |
Oracle
ORCL
|
+$23.4M |
| 4 |
Transocean
RIG
|
+$19.6M |
| 5 |
Occidental Petroleum
OXY
|
+$17.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$49.9M |
| 2 |
Cleveland-Cliffs
CLF
|
+$49.4M |
| 3 |
Microsoft
MSFT
|
+$38.3M |
| 4 |
Teck Resources
TECK
|
+$29.2M |
| 5 |
Comcast
CMCSA
|
+$22.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 25.39% |
| 2 | Technology | 19.25% |
| 3 | Communication Services | 17.34% |
| 4 | Consumer Discretionary | 10.32% |
| 5 | Materials | 7.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DISH
1
DELISTED
DISH Network Corp.
DISH
| $79.4M | 15.02% |
1,899,218
-371,669
| -16% | -$15.6M |
|
|
2
Occidental Petroleum
OXY
$57.2B
| $43.3M | 8.19% |
1,385,180
+645,161
| +87% | +$17.3M |
|
|
3
CALL
Alphabet (Google) Class C
GOOG
$4.22T
| $40M | 7.58% |
+328,000
| New | +$39.1M |
|
|
4
iShares Biotechnology ETF
IBB
$9.3B
| $33.9M | 6.41% |
+207,195
| New | +$31.9M |
|
|
5
Cleveland-Cliffs
CLF
$5.38B
| $31.9M | 6.04% |
1,480,630
-2,506,261
| -63% | -$49.4M |
|
6
General Motors
GM
$74B
| $30M | 5.67% |
506,350
-36,124
| -7% | -$2.12M |
|
|
7
FedEx
FDX
$76.6B
| $29M | 5.49% |
+97,300
| New | +$28.9M |
|
|
8
Transocean
RIG
$5.84B
| $23.3M | 4.41% |
+5,155,503
| New | +$19.6M |
|
|
9
Oracle
ORCL
$359B
| $23.3M | 4.4% |
+298,825
| New | +$23.4M |
|
10
EQT Corp
EQT
$33.6B
| $22.6M | 4.27% |
1,014,665
-507,333
| -33% | -$10.2M |
|
11
Vontier
VNT
$4.24B
| $21.4M | 4.05% |
656,493
+28,603
| +5% | +$942K |
|
|
SPWR
12
DELISTED
SunPower Corporation Common Stock
SPWR
| $16.2M | 3.07% |
+555,616
| New | +$14.3M |
|
|
13
Microsoft
MSFT
$2.89T
| $14.6M | 2.76% |
53,827
-150,732
| -74% | -$38.3M |
|
14
Cenovus Energy
CVE
$54.3B
| $14M | 2.64% |
1,457,884
+804,250
| +123% | +$6.81M |
|
15
Applied Materials
AMAT
$446B
| $13.1M | 2.47% |
91,712
+31,012
| +51% | +$4.16M |
|
16
Lam Research
LRCX
$402B
| $12.2M | 2.31% |
+187,460
| New | +$11.8M |
|
|
PXD
17
DELISTED
Pioneer Natural Resource Co.
PXD
| $12.2M | 2.3% |
+74,770
| New | +$11.7M |
|
|
18
Alphabet (Google) Class C
GOOG
$4.22T
| $11.2M | 2.12% |
89,620
-418,980
| -82% | -$49.9M |
|
19
Expedia Group
EXPE
$31.4B
| $11.2M | 2.12% |
+68,555
| New | +$11.8M |
|
20
Suncor Energy
SU
$76.5B
| $10.8M | 2.04% |
+449,533
| New | +$10.3M |
|
21
Hecla Mining
HL
$10.5B
| $9.53M | 1.8% |
+1,280,207
| New | +$9.62M |
|
|
MRO
22
DELISTED
Marathon Oil Corporation
MRO
| $8.14M | 1.54% |
+597,675
| New | +$7.22M |
|
23
JD.com
JD
$40.8B
| $6.73M | 1.27% |
84,350
-10,650
| -11% | -$801K |
|
24
Alibaba
BABA
$279B
| $6.63M | 1.25% |
+29,250
| New | +$6.5M |
|
25
Alaska Air
ALK
$4.83B
| $1.36M | 0.26% |
+22,500
| New | +$1.52M |
|
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Key Square Capital Management's Q2 2021 Portfolio in Review
As of Q2 2021, Key Square Capital Management held 46 positions worth $529M, down 9.9% from $587M the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Key Square Capital Management withdrew a net $112M in Q2 2021, closing 18 positions and reducing 7 holdings. Its most notable exit was Teck Resources, an estimated $29.2M position sold in full.
By sector, the portfolio is most concentrated in Energy at 25% of assets, up from 9.8% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Key Square Capital Management opened a new position in iShares Biotechnology ETF worth $33.9M.
- Key Square Capital Management's largest Q2 2021 buy was iShares Biotechnology ETF: 207,195 shares worth $33.9M.
- Key Square Capital Management added most to Occidental Petroleum in Q2 2021, an estimated $17.3M increase.
- Key Square Capital Management's biggest Q2 2021 reduction was Alphabet (Google) Class C, cutting an estimated $49.9M.
- Key Square Capital Management fully exited Teck Resources in Q2 2021, selling an estimated $29.2M.
- Key Square Capital Management's ten largest holdings make up 67% of its $529M portfolio in Q2 2021.
- Key Square Capital Management opened 17 new positions and closed 18 in Q2 2021.
- Key Square Capital Management's portfolio value fell 9.9% quarter-over-quarter to $529M.
Based on Key Square Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.