Managers / Q4 2020 · view latest →
Cheyne Capital Management (UK) LLP
CIK 0001390457 · STORNOWAY HOUSE, 13 CLEVELAND ROW, LONDON, X0, SW1A 1DH · 011-44(0)2070317450
Reported Value
$198M
Q4 2020
Positions
88
Filings on Record
22
2019–present window
Filed
Feb 10, 2021
original filing
Summary
Cheyne Capital Management (UK) LLP reported $198M in U.S.-listed holdings across 88 positions for Q4 2020.
Its largest position, YUMC, represents 14.6% of the portfolio.
Compared with Q3 2020, the fund opened 53 new positions and exited 22.
Portfolio Metrics
Turnover
+42.3%
vs prior filed quarter
Top-10 Concentration
+44.5%
share of reported value
Largest Position
+14.6%
Yum China
New / Exited
53 / 22
positions this quarter
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
13F Reported Value
Portfolio Composition
By security type
- US DOMESTIC · 35.0% · $69M
- Common Stock · 30.4% · $60M
- ETP · 14.4% · $28M
- Other · 10.2% · $20M
- ADR · 8.2% · $16M
- Other · 1.9% · $4M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| EMLCVANECK VECTORS ETF TR | NEW | +275.0K | 275.0K | +$9M | $9M |
| SLVISHARES SILVER TR | NEW | +205.0K | 205.0K | +$5M | $5M |
| SONOSONOS INC | NEW | +204.6K | 204.6K | +$5M | $5M |
| EWZISHARES INC | NEW | +125.0K | 125.0K | +$5M | $5M |
| DMYDDMY TECHNOLOGY GROUP INC II | NEW | +208.7K | 208.7K | +$4M | $4M |
| ABXBARRICK GOLD CORP | NEW | +150.0K | 150.0K | +$3M | $3M |
| CYBERARK SOFTWARE LTD | NEW | +2.55M | 2.55M | +$3M | $3M |
| BFTFOLEY TRASIMENE ACQUISITION | NEW | +201.5K | 201.5K | +$3M | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2020
87 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | YUMCYUM CHINA HLDGS INChistory → | COM | 14.62% | $29M | 65.0K |
| 2 | SESEA LTDhistory → | SPONSORD ADS | 5.11% | $10M | 50.8K |
| 3 | EMLCVANECK VECTORS ETF TRhistory → | JP MORGAN MKTS | 4.63% | $9M | 275.0K |
| 4 | GLDSPDR GOLD TRhistory → | GOLD SHS | 4.51% | $9M | 50.0K |
| 5 | NUANCE COMMUNICATIONS INC | COM | 3.14% | $6M | 140.9K |
| 6 | PALO ALTO NETWORKS INC | NOTE 0.750% 7/0 | 2.72% | $5M | 3.80M |
| 7 | SLVISHARES SILVER TRhistory → | ISHARES | 2.55% | $5M | 205.0K |
| 8 | AKAMAI TECHNOLOGIES INC | NOTE 0.375% 9/0 | 2.44% | $5M | 4.34M |
| 9 | SONOSONOS INChistory → | COM | 2.42% | $5M | 204.6K |
| 10 | EWZISHARES INChistory → | MSCI BRAZIL ETF | 2.34% | $5M | 125.0K |
| 11 | FCXFREEPORT-MCMORAN INChistory → | CL B | 2.12% | $4M | 161.0K |
| 12 | DMYDDMY TECHNOLOGY GROUP INC IIhistory → | COM CL A | 1.86% | $4M | 208.7K |
| 13 | ARES CAPITAL CORP | NOTE 3.750% 2/0 | 1.82% | $4M | 3.52M |
| 14 | PROOFPOINT INC | NOTE 0.250% 8/1 | 1.79% | $4M | 3.17M |
| 15 | TWITTER INC | NOTE 0.250% 6/1 | 1.78% | $4M | 2.91M |
| 16 | BIOMARIN PHARMACEUTICAL INC | NOTE 0.599% 8/0 | 1.75% | $3M | 3.22M |
| 17 | ABXBARRICK GOLD CORPhistory → | COM | 1.73% | $3M | 150.0K |
| 18 | FIREEYE INC | NOTE 0.875% 6/0 | 1.71% | $3M | 2.78M |
| 19 | CYBERARK SOFTWARE LTD | NOTE 11/1 | 1.57% | $3M | 2.55M |
| 20 | EXACT SCIENCES CORP | NOTE 0.375% 3/0 | 1.56% | $3M | 2.35M |
| 21 | BFTFOLEY TRASIMENE ACQUISITIONhistory → | COM CL A | 1.54% | $3M | 201.5K |
| 22 | EURONET WORLDWIDE INC | NOTE 0.750% 3/1 | 1.52% | $3M | 2.66M |
| 23 | NRG ENERGY INC | DBCV 2.750% 6/0 | 1.49% | $3M | 2.58M |
| 24 | PRICELINE GRP INC | NOTE 0.900% 9/1 | 1.47% | $3M | 2.50M |
| 25 | DQDAQO NEW ENERGY CORPhistory → | SPNSRD ADS NEW | 1.45% | $3M | 50.0K |
| 26 | INSU ACQUISITION CORP II | COM CL A | 1.41% | $3M | 178.8K |
| 27 | INSULET CORP | NOTE 0.375% 9/0 | 1.37% | $3M | 2.03M |
| 28 | ILLUMINA INC | NOTE 8/1 | 1.25% | $2M | 2.20M |
| 29 | SPIRIT RLTY CAP INC NEW | NOTE 3.750% 5/1 | 1.16% | $2M | 2.25M |
| 30 | CHURCHILL CAPITAL CORP IV | CL A | 1.14% | $2M | 224.4K |
| 31 | ZYNGA INC | NOTE 0.250% 6/0 | 1.13% | $2M | 1.67M |
| 32 | HTHTHUAZHU GROUP LTDhistory → | SPONSORED ADS | 1.02% | $2M | 45.0K |
| 33 | REALPAGE INC | NOTE 1.500% 5/1 | 1.02% | $2M | 1.57M |
| 34 | WMGWARNER MUSIC GROUP CORP | COM CL A | 0.96% | $2M | 50.0K |
| 35 | CONX CORP | UNIT 10/30/2027 | 0.96% | $2M | 181.2K |
| 36 | CNSTCONSTELLATION PHARMCETICLS I | COM | 0.88% | $2M | 60.6K |
| 37 | ALTAIR ENGR INC | NOTE 0.250% 6/0 | 0.88% | $2M | 1.26M |
| 38 | AMERICAN AIRLS GROUP INC | NOTE 6.500% 7/0 | 0.83% | $2M | 1.30M |
| 39 | SPLUNK INC | NOTE 1.125% 9/1 | 0.82% | $2M | 1.20M |
| 40 | LUMENTUM HLDGS INC | NOTE 0.500%12/1 | 0.79% | $2M | 1.27M |
| 41 | SOUTHWEST AIRLS CO | NOTE 1.250% 5/0 | 0.77% | $2M | 1.05M |
| 42 | LIBERTY MEDIA CORP DEL | NOTE 1.000% 1/3 | 0.76% | $1M | 1.16M |
| 43 | PINDUODUO INC | NOTE 12/0 | 0.73% | $1M | 1.17M |
| 44 | NEW RELIC INC | NOTE 0.500% 5/0 | 0.65% | $1M | 1.30M |
| 45 | WESTERN DIGITAL CORP. | NOTE 1.500% 2/0 | 0.64% | $1M | 1.27M |
| 46 | VIAVI SOLUTIONS INC | NOTE 1.000% 3/0 | 0.61% | $1M | 935.0K |
| 47 | CARNEY TECHNOLOGY ACQU CORP | UNIT 12/10/2025 | 0.60% | $1M | 115.0K |
| 48 | VALEVALE S A | SPONSORED ADS | 0.59% | $1M | 70.0K |
| 49 | 7GC & CO HOLDINGS INC | UNIT 12/23/2025 | 0.58% | $1M | 109.2K |
| 50 | ALTERYX INC | NOTE 0.500% 8/0 | 0.55% | $1M | 1.05M |
| 51 | DELWINDS INS ACQUISITION COR | UNIT 99/99/9999 | 0.52% | $1M | 100.0K |
| 52 | STARBOARD VALUE ACQUISITN CO | UNIT 09/10/2025 | 0.39% | $762,000 | 73.9K |
| 53 | GO ACQUISITION CORP | COM | 0.35% | $696,000 | 68.3K |
| 54 | CCJCAMECO CORP | COM | 0.34% | $670,000 | 50.0K |
| 55 | PPLTABERDEEN STD PLATINUM ETF TR | PHYSCL PLATM SHS | 0.32% | $640,000 | 6.3K |
| 56 | OMNICHANNEL ACQUISITION CORP | UNIT 99/99/9999 | 0.30% | $601,000 | 58.4K |
| 57 | TS INNOVATION ACQUISITN CORP | UNIT 99/99/9999 | 0.30% | $598,000 | 56.7K |
| 58 | EAST RES ACQUISITION CO | COM CL A | 0.30% | $584,000 | 57.6K |
| 59 | HUDSON EXECUTIVE INVT CORP | COM CL A | 0.29% | $579,000 | 53.5K |
| 60 | CF ACQUISITION CORP IV | UNIT 12/31/2027 | 0.29% | $571,000 | 55.5K |
| 61 | DUNE ACQUISITION CORP | UNIT 10/29/2027 | 0.29% | $564,000 | 55.0K |
| 62 | MONTES ARCHIMEDES ACQUISITIO | UNIT 09/30/2025 | 0.28% | $560,000 | 53.3K |
| 63 | CAPITOL INVESTMENT CORP V | UNIT 99/99/9999 | 0.28% | $554,000 | 53.8K |
| 64 | FTI CONSULTING INC | NOTE 2.000% 8/1 | 0.27% | $540,000 | 430.0K |
| 65 | KINS TECHNOLOGY GROUP INC | UNIT 10/14/2025 | 0.27% | $535,000 | 52.0K |
| 66 | EQUITY DISTR ACQUISITION COR | UNIT 99/99/9999 | 0.26% | $516,000 | 48.5K |
| 67 | INSMED INC | NOTE 1.750% 1/1 | 0.26% | $509,000 | 450.0K |
| 68 | PLURALSIGHT INC | NOTE 0.375% 3/0 | 0.25% | $494,000 | 500.0K |
| 69 | CASCADE ACQUISITION CORP | UNIT 99/99/9999 | 0.24% | $475,000 | 45.4K |
| 70 | PINE IS ACQUISITION CORP | UNIT 99/99/9999 | 0.23% | $464,000 | 45.1K |
| 71 | RECHARGE ACQUISITION CORP | UNIT 99/99/9999 | 0.18% | $355,000 | 33.2K |
| 72 | KINGSWOOD ACQUISITION CORP | UNIT 99/99/9999 | 0.18% | $350,000 | 33.7K |
| 73 | CVXCHEVRON CORP NEW | COM | 0.17% | $332,000 | 3.9K |
| 74 | MUDRICK CAPITAL ACQU CORP II | UNIT 99/99/9999 | 0.15% | $298,000 | 28.9K |
| 75 | PURE STORAGE INC | NOTE 0.125% 4/1 | 0.15% | $288,000 | 260.0K |
| 76 | 10X CAPITAL VENTURE ACQU COR | UNIT 10/21/2025 | 0.14% | $281,000 | 26.3K |
| 77 | ACKRELL SPAC PARTNERS I CO | UNIT 12/01/2026 | 0.14% | $267,000 | 25.9K |
| 78 | FINTECH ACQUISITION CORP V | UNIT 99/99/9999 | 0.14% | $267,000 | 25.0K |
| 79 | PROPTECH INVESTMENT CORP II | UNIT 99/99/9999 | 0.13% | $266,000 | 25.0K |
| 80 | OXYOCCIDENTAL PETE CORP | COM | 0.13% | $260,000 | 15.0K |
| 81 | ALTITUDE ACQUISITION CORP | UNIT 11/30/2027 | 0.13% | $259,000 | 25.0K |
| 82 | GOOD WORKS ACQUISITION CORP | COM | 0.12% | $241,000 | 24.2K |
| 83 | CRCCALIFORNIA RES CORP | COMMON STOCK | 0.11% | $224,000 | 9.5K |
| 84 | FG NEW AMER ACQUISITION CORP | UNIT 08/31/2027 | 0.11% | $216,000 | 20.4K |
| 85 | SEVEN OAKS ACQUISITION CORP | UNIT 12/18/2025 | 0.11% | $210,000 | 20.3K |
| 86 | SPARTACUS ACQUISITION CORP | UNIT 10/31/2027 | 0.06% | $126,000 | 12.0K |
| 87 | BERRY CORP | COM | 0.06% | $114,000 | 31.0K |
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 ↗.