SEC 13F Intelligence

Managers / Q4 2024

KGH Ltd

CIK 0001549641 · CAVES POINT, 3C, WEST BAY STREET, NASSAU, C5, NA · 2144320585

Reported Value
$1.9B
Q4 2024
Positions
26
Filings on Record
26
2019–present window
Filed
Feb 14, 2025
original filing

Summary

Kgh Ltd reported $1.9B in U.S.-listed holdings across 26 positions for Q4 2024.

Its largest position, RRC, represents 11.6% of the portfolio.

Compared with Q3 2024, the fund opened 6 new positions and exited 5.

Portfolio Metrics

Turnover
+20.3%
vs prior filed quarter
Top-10 Concentration
+60.3%
share of reported value
Largest Position
+11.6%
Range Res
New / Exited
6 / 5
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. 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: $1.6BQ4 ’18Q1 ’19: $1.4BQ2 ’19: $1.2BQ3 ’19: $555MQ4 ’19: $638MQ4 ’19Q1 ’20: $561MQ2 ’20: $525MQ3 ’20: $560MQ4 ’20: $690MQ4 ’20Q1 ’21: $796MQ2 ’21: $968MQ3 ’21: $1.0BQ4 ’21: $982MQ4 ’21Q1 ’22: $1.3BQ2 ’22: $1.3BQ3 ’22: $1.3BQ4 ’22: $1.3BQ4 ’22Q1 ’23: $1.3BQ2 ’23: $1.4BQ3 ’23: $1.9BQ4 ’23: $1.9BQ4 ’23Q1 ’24: $1.8BQ2 ’24: $1.7BQ3 ’24: $1.8BQ4 ’24: $1.9BQ4 ’24filingsflow.com

Portfolio Composition

By security type
Common Stock: 86.9%Other: 7.4%NY Reg Shrs: 4.6%ETP: 0.7%ADR: 0.2%Other: 0.2%
  • Common Stock · 86.9% · $1.7B
  • Other · 7.4% · $142M
  • NY Reg Shrs · 4.6% · $88M
  • ETP · 0.7% · $13M
  • ADR · 0.2% · $4M
  • Other · 0.2% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EXEEXPAND ENERGY CORPORATIONNEW+2.02M2.02M+$202M$202M
AAALCOA CORPNEW+717.0K717.0K+$27M$27M
STLDSTEEL DYNAMICS INCNEW+52.0K52.0K+$6M$6M
YPF SOCIEDAD ANONIMANEW+100.0K100.0K+$4M$4M
EXPAND ENERGY CORPORATIONNEW+40.7K40.7K+$3M$3M
SLBSCHLUMBERGER LTDNEW+12.5K12.5K+$479,250$479,250
OXYOCCIDENTAL PETE CORPADDED+371.0K566.0K+$18M$28M
BTUPEABODY ENERGY CORPSOLD OUT−1.20M0−$32M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2024

23 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RRCRANGE RES CORPhistory →COM11.62%$223M6.21M
2CRKCOMSTOCK RES INChistory →COM11.48%$221M12.13M
3USX1UNITED STATES STL CORP NEWhistory →COM8.13%$156M4.60M
4HCCWARRIOR MET COAL INChistory →COM7.31%$141M2.59M
5NXTNEXTRACKER INChistory →CLASS A COM5.02%$97M2.64M
6NOBLE CORP PLCORD SHS A4.99%$96M3.06M
7ARCELORMITTAL SA LUXEMBOURGNY REGISTRY SH4.60%$88M3.82M
8CHRDCHORD ENERGY CORPORATIONhistory →COM NEW2.95%$57M486.0K
9VALARIS LTDCL A2.40%$46M1.04M
10GPKGRAPHIC PACKAGING HLDG COhistory →COM1.86%$36M1.32M
11OXYOCCIDENTAL PETE CORPhistory →COM1.45%$28M566.0K
12AAALCOA CORPhistory →COM1.41%$27M717.0K
13PAGPEURPLAINS GP HLDGS L Phistory →LTD PARTNR INT A0.81%$16M845.0K
14ARANTERO RESOURCES CORPhistory →COM0.74%$14M407.0K
15WFGWEST FRASER TIMBER CO LTDhistory →COM0.69%$13M154.0K
16PALLUSDABRDN PALLADIUM ETF TRUSThistory →PHYSICAL PALLADM0.65%$13M150.0K
17EQTEQT CORPCOM0.47%$9M198.0K
18STLDSTEEL DYNAMICS INCCOM0.31%$6M52.0K
19YPF SOCIEDAD ANONIMASPON ADR CL D0.22%$4M100.0K
20EXPAND ENERGY CORPORATION*W EXP 02/09/2020.18%$3M40.7K
21NXENEXGEN ENERGY LTDCOM0.16%$3M467.0K
22SPROTT PHYSICAL PLAT PALLADUNIT0.03%$622,56770.0K
23SLBSCHLUMBERGER LTDCOM STK0.02%$479,25012.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q4 2024$1.9B26Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.8B25Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.7B31Aug 22, 2024RESTATEMENTchanges · EDGAR ↗
Q1 2024$1.8B36May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.9B40Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.9B38Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.4B38Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.3B33May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.3B34Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.3B36Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.3B41Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.3B36May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$982M41Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.0B35Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$968M32Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$796M32May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$690M34Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$560M34Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$525M28Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$561M36May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$638M32Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$555M43Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.2B48Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.4B55May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.6B69Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • KEY GROUP HOLDINGS USA INC.028-15644

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 ↗.