Managers / Q4 2023
Cheyne Capital Management (UK) LLP
CIK 0001390457 · STORNOWAY HOUSE, 13 CLEVELAND ROW, LONDON, X0, SW1A 1DH · 011-44(0)2070317450
Summary
Cheyne Capital Management (UK) LLP reported $28M in U.S.-listed holdings across 15 positions for Q4 2023.
The portfolio is heavily concentrated: LLY alone accounts for 42.2% of reported value.
Compared with Q3 2023, the fund opened 0 new positions and exited 9.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 94.4% · $26M
- ETP · 3.5% · $961,400
- Equity WRT · 2.2% · $603,415
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SSENTINELONE INC | SOLD OUT | −266.7K | 0 | −$4M | $0 |
| IQVIQVIA HLDGS INC | SOLD OUT | −4.8K | 0 | −$944,400 | $0 |
| UBERUBER TECHNOLOGIES INC | SOLD OUT | −20.0K | 0 | −$919,800 | $0 |
| LIBERTY MEDIA CORP DEL | SOLD OUT | −600.0K | 0 | −$587,413 | $0 |
| CHARLES RIV LABS INTL INC | SOLD OUT | −2.5K | 0 | −$489,950 | $0 |
| LABORATORY CORP AMER HLDGS | SOLD OUT | −2.2K | 0 | −$442,310 | $0 |
| RAPT THERAPEUTICS INC | SOLD OUT | −20.0K | 0 | −$332,400 | $0 |
| BERRY CORP | SOLD OUT | −31.0K | 0 | −$254,200 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | LLYELI LILLY & COhistory → | COM | 42.18% | $12M | 20.2K |
| 2 | ABXBARRICK GOLD CORPhistory → | COM | 12.99% | $4M | 200.0K |
| 3 | SUSUNCOR ENERGY INC NEWhistory → | COM | 8.11% | $2M | 70.5K |
| 4 | OXYOCCIDENTAL PETE CORP | COM · *W EXP 08/03/202 | 7.90% | $2M | 42.3K |
| 5 | CVECENOVUS ENERGY INChistory → | COM | 5.84% | $2M | 97.6K |
| 6 | NENOBLE CORP PLChistory → | ORD SHS A | 4.15% | $1M | 24.0K |
| 7 | KMIKINDER MORGAN INC DELhistory → | COM | 3.80% | $1M | 60.0K |
| 8 | CRCCALIFORNIA RES CORPhistory → | COM STOCK | 3.69% | $1M | 18.8K |
| 9 | EWZISHARES INChistory → | MSCI BRAZIL ETF | 3.45% | $961,400 | 27.5K |
| 10 | AEMAGNICO EAGLE MINES LTDhistory → | COM | 3.23% | $899,540 | 16.4K |
| 11 | PAASPAN AMERICAN SILVER CORPhistory → | COM | 1.81% | $502,964 | 30.8K |
| 12 | KRKROGER COhistory → | COM | 1.81% | $502,810 | 11.0K |
| 13 | WBDWARNER BROS DISCOVERY INC | COM SER A | 0.61% | $170,700 | 15.0K |
| 14 | ALLBIRDS INC | COM CL A | 0.44% | $122,500 | 100.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2023 | $28M | 15 | Feb 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $35M | 24 | Oct 27, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $27M | 19 | Jul 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $32M | 22 | May 3, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $57M | 59 | Feb 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $47M | 35 | Nov 10, 2022 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2022 | $118M | 108 | Aug 5, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $159M | 142 | May 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $154M | 125 | Jan 26, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $168M | 112 | Nov 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $220M | 114 | Aug 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $158M | 100 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $198M | 88 | Feb 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $203M | 57 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $148M | 46 | Aug 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $97M | 40 | May 7, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $165M | 43 | Feb 12, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $158M | 40 | Nov 12, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $138M | 42 | Aug 8, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $107M | 35 | May 10, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $106M | 35 | Feb 5, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.