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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
+0.1%
1 Year Est. Return
+21.27%
3 Year Est. Return
+50.18%
5 Year Est. Return
+762.23%
10 Year Est. Return
–
AUM
$245M
AUM Growth
-$26.5M
(-9.7%)
Cap. Flow
-$20.7M
Cap. Flow
% of AUM
-8.43%
Top 10 Holdings %
Top 10 Hldgs %
54.91%
Holding
33
New
14
Increased
6
Reduced
6
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sony
SONY
|
+$12.2M |
| 2 |
EXE
Expand Energy Corp
EXE
|
+$9.79M |
| 3 |
Antero Resources
AR
|
+$9.74M |
| 4 |
iShares MSCI Brazil ETF
EWZ
|
+$9.14M |
| 5 |
Vulcan Materials
VMC
|
+$8.97M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cleveland-Cliffs
CLF
|
+$30.4M |
| 2 |
Occidental Petroleum
OXY
|
+$19.2M |
| 3 |
Oracle
ORCL
|
+$16.1M |
| 4 |
Devon Energy
DVN
|
+$13.7M |
| 5 |
GE Aerospace
GE
|
+$12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 46.68% |
| 2 | Technology | 15.7% |
| 3 | Materials | 14.75% |
| 4 | Communication Services | 10.54% |
| 5 | Consumer Discretionary | 8.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DISH
1
DELISTED
DISH Network Corp.
DISH
| $25.9M | 10.55% |
797,942
-34,600
| -4% | -$1.29M |
|
2
Vontier
VNT
$4.24B
| $15.8M | 6.44% |
514,413
-39,914
| -7% | -$1.3M |
|
3
Peabody Energy
BTU
$2.9B
| $13.8M | 5.63% |
1,372,250
+671,350
| +96% | +$8.15M |
|
4
Transocean
RIG
$5.9B
| $13.7M | 5.59% |
4,975,029
+583,943
| +13% | +$1.98M |
|
|
5
Sony
SONY
$121B
| $12.9M | 5.26% |
+510,385
| New | +$12.2M |
|
6
The Mosaic Company
MOS
$7.07B
| $11.5M | 4.7% |
293,710
+76,710
| +35% | +$2.94M |
|
|
7
Occidental Petroleum
OXY
$57.5B
| $10.7M | 4.37% |
369,741
-611,740
| -62% | -$19.2M |
|
|
8
Cleveland-Cliffs
CLF
$6.3B
| $10.4M | 4.22% |
475,507
-1,410,086
| -75% | -$30.4M |
|
|
9
Devon Energy
DVN
$52.4B
| $10M | 4.08% |
227,577
-328,878
| -59% | -$13.7M |
|
10
Pultegroup
PHM
$23.5B
| $10M | 4.07% |
+174,900
| New | +$8.97M |
|
|
EXE
11
Expand Energy Corp
EXE
$22.1B
| $9.96M | 4.06% |
+154,383
| New | +$9.79M |
|
12
Micron Technology
MU
$1.12T
| $9.84M | 4.01% |
+105,600
| New | +$8.25M |
|
|
13
Vulcan Materials
VMC
$35.6B
| $9.61M | 3.92% |
+46,300
| New | +$8.97M |
|
|
14
Antero Resources
AR
$10.9B
| $8.99M | 3.66% |
+513,981
| New | +$9.74M |
|
|
15
iShares MSCI Brazil ETF
EWZ
$9.15B
| $8.53M | 3.48% |
+304,000
| New | +$9.14M |
|
16
Diamondback Energy
FANG
$57.9B
| $7.79M | 3.17% |
72,222
-109,422
| -60% | -$11.9M |
|
17
APA Corp
APA
$13B
| $7.74M | 3.15% |
288,000
+110,800
| +63% | +$2.94M |
|
18
Booking.com
BKNG
$133B
| $7.69M | 3.13% |
80,175
+1,575
| +2% | +$149K |
|
19
Cenovus Energy
CVE
$55.7B
| $7.65M | 3.12% |
+622,900
| New | +$7.46M |
|
|
ARCH
20
DELISTED
Arch Resources, Inc.
ARCH
| $7.34M | 2.99% |
+80,425
| New | +$7.14M |
|
21
Alcoa
AA
$11.9B
| $4.7M | 1.92% |
+78,950
| New | +$3.96M |
|
22
Valaris
VAL
$5.49B
| $4.49M | 1.83% |
+124,805
| New | +$4.35M |
|
23
Cameco
CCJ
$38.9B
| $4.41M | 1.8% |
+202,400
| New | +$4.9M |
|
24
Caesars Entertainment
CZR
$6.07B
| $4.02M | 1.64% |
+42,950
| New | +$4.35M |
|
|
TELL
25
DELISTED
Tellurian Inc.
TELL
| $3.98M | 1.62% |
1,291,704
+51,318
| +4% | +$182K |
|
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Key Square Capital Management's Q4 2021 Portfolio in Review
As of Q4 2021, Key Square Capital Management held 33 positions worth $245M, down 9.7% from $272M the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Key Square Capital Management withdrew a net $20.7M in Q4 2021, closing 7 positions and reducing 6 holdings. Its most notable exit was Oracle, an estimated $16.1M position sold in full.
By sector, the portfolio is most concentrated in Energy at 47% of assets, up from 41% a quarter earlier, followed by Technology and Materials.
Against the trend, Key Square Capital Management opened a new position in Sony worth $12.9M.
- Key Square Capital Management's largest Q4 2021 buy was Sony: 510,385 shares worth $12.9M.
- Key Square Capital Management added most to Peabody Energy in Q4 2021, an estimated $8.15M increase.
- Key Square Capital Management's biggest Q4 2021 reduction was Cleveland-Cliffs, cutting an estimated $30.4M.
- Key Square Capital Management fully exited Oracle in Q4 2021, selling an estimated $16.1M.
- Key Square Capital Management's ten largest holdings make up 55% of its $245M portfolio in Q4 2021.
- Key Square Capital Management opened 14 new positions and closed 7 in Q4 2021.
- Key Square Capital Management's portfolio value fell 9.7% quarter-over-quarter to $245M.
Based on Key Square Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.