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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
-8.35%
1 Year Est. Return
+21.27%
3 Year Est. Return
+50.18%
5 Year Est. Return
+762.23%
10 Year Est. Return
–
AUM
$56.1M
AUM Growth
-$136M
(-71%)
Cap. Flow
-$131M
Cap. Flow
% of AUM
-233.07%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
24
New
3
Increased
3
Reduced
–
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VanEck Gold Miners ETF
GDX
|
+$11.6M |
| 2 |
ARCH
Arch Resources, Inc.
ARCH
|
+$7.2M |
| 3 |
Valero Energy
VLO
|
+$6.05M |
| 4 |
Transocean
RIG
|
+$4.53M |
| 5 |
Peabody Energy
BTU
|
+$479K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Newmont
NEM
|
+$17.1M |
| 2 |
JNPR
Juniper Networks
JNPR
|
+$16.4M |
| 3 |
Vontier
VNT
|
+$12.1M |
| 4 |
Boeing
BA
|
+$8.64M |
| 5 |
LTHM
Livent Corporation
LTHM
|
+$7.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 61.86% |
| 2 | Industrials | 18.48% |
| 3 | Consumer Staples | 0% |
| 4 | Financials | 0% |
| 5 | Materials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Transocean
RIG
$5.87B
| $14.9M | 26.59% |
6,043,633
+1,415,177
| +31% | +$4.53M |
|
|
2
VanEck Gold Miners ETF
GDX
$23.4B
| $11M | 19.66% |
+457,497
| New | +$11.6M |
|
3
Fluor
FLR
$7.21B
| $10.4M | 18.48% |
416,783
+1,361
| +0.3% | +$34.7K |
|
|
4
Peabody Energy
BTU
$2.91B
| $7.76M | 13.82% |
312,556
+21,317
| +7% | +$479K |
|
|
ARCH
5
DELISTED
Arch Resources, Inc.
ARCH
| $6.17M | 11% |
+52,047
| New | +$7.2M |
|
|
6
Valero Energy
VLO
$92.3B
| $5.87M | 10.46% |
+54,950
| New | +$6.05M |
|
7
ARK Innovation ETF
ARKK
$6.23B
| – | – |
-5,145
| Closed | -$205K |
|
|
8
Boeing
BA
$164B
| – | – |
-63,170
| Closed | -$8.64M |
|
9
Grupo Cibest SA
CIB
$20.1B
| – | – |
-78,663
| Closed | -$2.42M |
|
10
Darling Ingredients
DAR
$10.3B
| – | – |
-104,715
| Closed | -$6.26M |
|
11
Intel
INTC
$516B
| – | – |
-185,988
| Closed | -$6.96M |
|
|
JNPR
12
DELISTED
Juniper Networks
JNPR
| – | – |
-575,348
| Closed | -$16.4M |
|
|
13
Newmont
NEM
$102B
| – | – |
-287,258
| Closed | -$17.1M |
|
14
Olin
OLN
$2.76B
| – | – |
-135,652
| Closed | -$6.28M |
|
15
Invesco QQQ Trust
QQQ
$469B
| – | – |
-6,800
| Closed | -$1.91M |
|
16
Rivian
RIVN
$24.9B
| – | – |
-119,423
| Closed | -$3.07M |
|
17
VanEck Semiconductor ETF
SMH
$70.7B
| – | – |
-13,610
| Closed | -$1.39M |
|
18
Snowflake
SNOW
$92.8B
| – | – |
-27,970
| Closed | -$3.89M |
|
19
State Street SPDR S&P 500 ETF Trust
SPY
$787B
| – | – |
-6,660
| Closed | -$2.51M |
|
|
20
Vontier
VNT
$4.25B
| – | – |
-526,227
| Closed | -$12.1M |
|
21
CALL
State Street SPDR S&P Homebuilders ETF
XHB
$1.71B
| – | – |
-900,000
| Closed | -$49.2M |
|
|
ETRN
22
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| – | – |
-1,123,304
| Closed | -$7.14M |
|
|
LTHM
23
DELISTED
Livent Corporation
LTHM
| – | – |
-338,418
| Closed | -$7.68M |
|
|
DISH
24
DELISTED
DISH Network Corp.
DISH
| – | – |
-416,580
| Closed | -$7.47M |
|
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Key Square Capital Management's Q3 2022 Portfolio in Review
As of Q3 2022, Key Square Capital Management held 24 positions worth $56.1M, down 71% from $192M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Key Square Capital Management withdrew a net $131M in Q3 2022, closing 18 positions. Its most notable exit was Newmont, an estimated $17.1M position sold in full.
By sector, the portfolio is most concentrated in Energy at 62% of assets, up from 15% a quarter earlier, followed by Industrials and Consumer Staples.
Against the trend, Key Square Capital Management opened a new position in VanEck Gold Miners ETF worth $11M.
- Key Square Capital Management's largest Q3 2022 buy was VanEck Gold Miners ETF: 457,497 shares worth $11M.
- Key Square Capital Management added most to Transocean in Q3 2022, an estimated $4.53M increase.
- Key Square Capital Management fully exited Newmont in Q3 2022, selling an estimated $17.1M.
- Key Square Capital Management's ten largest holdings make up 100% of its $56.1M portfolio in Q3 2022.
- Key Square Capital Management opened 3 new positions and closed 18 in Q3 2022.
- Key Square Capital Management's portfolio value fell 71% quarter-over-quarter to $56.1M.
Based on Key Square Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.