SEC 13F Intelligence

Managers / Q4 2023

Cheyne Capital Management (UK) LLP

CIK 0001390457 · STORNOWAY HOUSE, 13 CLEVELAND ROW, LONDON, X0, SW1A 1DH · 011-44(0)2070317450

Reported Value
$28M
Q4 2023
Positions
15
Filings on Record
22
2019–present window
Filed
Feb 12, 2024
original filing

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

Turnover
+12.4%
vs prior filed quarter
Top-10 Concentration
+95.3%
share of reported value
Largest Position
+42.2%
Eli Lilly

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
Q4 ’18: $106MQ4 ’18Q1 ’19: $107MQ2 ’19: $138MQ3 ’19: $158MQ3 ’19Q4 ’19: $165MQ1 ’20: $97MQ2 ’20: $148MQ2 ’20Q3 ’20: $203MQ4 ’20: $198MQ1 ’21: $158MQ1 ’21Q2 ’21: $220MQ3 ’21: $168MQ4 ’21: $154MQ4 ’21Q1 ’22: $159MQ2 ’22: $118MQ3 ’22: $47MQ3 ’22Q4 ’22: $57MQ1 ’23: $32MQ2 ’23: $27MQ2 ’23Q3 ’23: $35MQ4 ’23: $28Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 94.4%ETP: 3.5%Equity WRT: 2.2%
  • 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)

IssuerMoveShare ΔShares nowValue ΔValue now
SSENTINELONE INCSOLD OUT266.7K0$4M$0
IQVIQVIA HLDGS INCSOLD OUT4.8K0$944,400$0
UBERUBER TECHNOLOGIES INCSOLD OUT20.0K0$919,800$0
LIBERTY MEDIA CORP DELSOLD OUT600.0K0$587,413$0
CHARLES RIV LABS INTL INCSOLD OUT2.5K0$489,950$0
LABORATORY CORP AMER HLDGSSOLD OUT2.2K0$442,310$0
RAPT THERAPEUTICS INCSOLD OUT20.0K0$332,400$0
BERRY CORPSOLD OUT31.0K0$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

14 positions
#IssuerClass% PortfolioValueShares
1LLYELI LILLY & COhistory →COM42.18%$12M20.2K
2ABXBARRICK GOLD CORPhistory →COM12.99%$4M200.0K
3SUSUNCOR ENERGY INC NEWhistory →COM8.11%$2M70.5K
4OXYOCCIDENTAL PETE CORPCOM · *W EXP 08/03/2027.90%$2M42.3K
5CVECENOVUS ENERGY INChistory →COM5.84%$2M97.6K
6NENOBLE CORP PLChistory →ORD SHS A4.15%$1M24.0K
7KMIKINDER MORGAN INC DELhistory →COM3.80%$1M60.0K
8CRCCALIFORNIA RES CORPhistory →COM STOCK3.69%$1M18.8K
9EWZISHARES INChistory →MSCI BRAZIL ETF3.45%$961,40027.5K
10AEMAGNICO EAGLE MINES LTDhistory →COM3.23%$899,54016.4K
11PAASPAN AMERICAN SILVER CORPhistory →COM1.81%$502,96430.8K
12KRKROGER COhistory →COM1.81%$502,81011.0K
13WBDWARNER BROS DISCOVERY INCCOM SER A0.61%$170,70015.0K
14ALLBIRDS INCCOM CL A0.44%$122,500100.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q4 2023$28M15Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$35M24Oct 27, 202313F-HRchanges · EDGAR ↗
Q2 2023$27M19Jul 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$32M22May 3, 202313F-HRchanges · EDGAR ↗
Q4 2022$57M59Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$47M35Nov 10, 2022RESTATEMENTchanges · EDGAR ↗
Q2 2022$118M108Aug 5, 202213F-HRchanges · EDGAR ↗
Q1 2022$159M142May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$154M125Jan 26, 202213F-HRchanges · EDGAR ↗
Q3 2021$168M112Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$220M114Aug 12, 202113F-HRchanges · EDGAR ↗
Q1 2021$158M100May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$198M88Feb 10, 202113F-HRchanges · EDGAR ↗
Q3 2020$203M57Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$148M46Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$97M40May 7, 202013F-HRchanges · EDGAR ↗
Q4 2019$165M43Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$158M40Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$138M42Aug 8, 201913F-HRchanges · EDGAR ↗
Q1 2019$107M35May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$106M35Feb 5, 201913F-HRchanges · 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 ↗.