Horseman Capital Management Ltd

CIK

1340614

Location

London, X0

Portfolio Value

Small $101,879,605

Diversification

Diversified

Filing Date

Global Rank

#5,599 / 6,035 ▼ 218 · as of Sep 2021

Top Industry

Internet Content & Information 10.2%

Period ended 5 years ago

Filed Nov 3, 2021 · 5y

7 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2021, never from the firm's own description.

Style

Diversified active

Top 10 weight 40.1%, 35.3 effective positions, active share 69.5% against the Nasdaq-100 as of 2021-09-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

69.3% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 5.1 quarters, but 53.8% of the book was already held when coverage starts

Closest benchmark: the Nasdaq-100 as of 2021-09-30, active share 69.5%; sector active share 35.3% against the combined 13F book's sector weights.

Over time 7 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

46 tracked positions · as of Sep 30, 2021 · Δ vs Jun 30, 2021

Top Position

5.5%

−3.6 pts

Top 5

24.7%

−8.5 pts

Top 10

40.1%

−12.3 pts

HHI

284

Diversified−104

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2021

Sector	% Portfolio	Value	Positions
Healthcare	20.3%	$20,651,779	9
Technology	18.0%	$18,342,914	9
Communication Services	15.6%	$15,870,702	5
Consumer Cyclical	12.7%	$12,896,342	6
Industrials	11.6%	$11,797,993	5
Utilities	7.0%	$7,118,404	3
Financial Services	5.4%	$5,480,025	3
Energy	5.1%	$5,150,470	3
Basic Materials	2.9%	$2,932,976	1
Unclassified	1.6%	$1,638,000	2

Last Quarter's Activity

Export CSV

Sep 30, 2021 vs Jun 30, 2021

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
OKE	Oneok Inc	+12,000	37,000	$2,145,630
NVDA	Nvidia Corp	+10,500	14,000	$2,900,240
HCA	HCA Healthcare, Inc.	+4,000	16,000	$3,883,520
NTES	NetEase, Inc.	+4,000	19,000	$1,622,600
CROX	Crocs, Inc.	+2,500	12,500	$1,793,500
BABA	Alibaba Group Holding Ltd	+2,200	13,400	$1,983,870
GOOGL	Alphabet Inc.	+200	2,100	$5,614,392
No positions match the current search.

Trimmed

Positions the filer reduced

3 positions

Ticker	Company	Δ Shares	Shares	Value
TWI	Titan International Inc	−309,915	289,938	$2,075,956
CTVA	Corteva, Inc.	−86,000	69,700	$2,932,976
SEB	Seaboard Corp	−292	1,295	$5,309,487
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
SO	Southern Co	46,500	$2,881,605
AEP	American Electric Power Co Inc	34,000	$2,760,120
TMO	Thermo Fisher Scientific Inc.	4,000	$2,285,320
PFE	Pfizer Inc	48,000	$2,064,480
TJX	Tjx Companies Inc	30,000	$1,979,400
IDA	Idacorp Inc	14,284	$1,476,679
MU	Micron Technology Inc	17,000	$1,206,660
VSXY	Victoria's Secret & Co.	21,000	$1,160,460
JNJ	Johnson & Johnson	6,400	$1,033,600
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
AGCO	Agco Corp	89,200	$11,629,896
DE	Deere & Co	27,400	$9,664,254
ADM	Archer-Daniels-Midland Co	133,400	$8,084,040
GPRE	Green Plains Inc.	152,300	$5,120,326
MS	Morgan Stanley	20,000	$1,833,800
ETSY	Etsy Inc	6,000	$1,235,040
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

46 tracked positions · $101,879,605 total · filing declares 46 positions · $100,425,000 · as of Sep 30, 2021

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Added	2,100	+200	$5,614,392	+21.0%	7+	before history	5.51%
SEB	Seaboard Corp Industrials	Reduced	1,295	-292	$5,309,487	−13.5%	3	$3,411.71	5.21%
MSFT	Microsoft Corp Technology	Held	18,700	0	$5,271,904	+4.1%	7+	before history	5.17%
META	Meta Platforms, Inc. Communication Services	Held	13,700	0	$4,649,643	−2.4%	7+	before history	4.56%
AMZN	Amazon Com Inc Consumer Cyclical	Held	1,300	0	$4,270,552	−4.5%	7+	before history	4.19%
HCA	HCA Healthcare, Inc. Healthcare	Added	16,000	+4,000	$3,883,520	+56.5%	7+	before history	3.81%
NFLX	Netflix Inc Communication Services	Held	5,200	0	$3,173,768	+15.5%	7+	before history	3.12%
CTVA	Corteva, Inc. Basic Materials	Reduced	69,700	-86,000	$2,932,976	−57.5%	4	$36.44	2.88%
NVDA	Nvidia Corp Technology	Added	14,000	+10,500	$2,900,240	+3.6%	4	$134.12	2.85%
SO	Southern Co Utilities	NEW	46,500	NEW	$2,881,605	NEW	1	$64.38	2.83%
AAPL	Apple Inc. Technology	Held	20,000	0	$2,830,000	+3.3%	3	$128.66	2.78%
AEP	American Electric Power Co Inc Utilities	NEW	34,000	NEW	$2,760,120	NEW	1	$87.29	2.71%
CVS	CVS HEALTH Corp Healthcare	Held	32,000	0	$2,715,520	+1.7%	7+	before history	2.67%
V	Visa Inc. Financial Services	Held	11,500	0	$2,561,625	−4.7%	7+	before history	2.51%
ABBV	AbbVie Inc. Healthcare	Held	23,000	0	$2,481,010	−4.2%	7+	before history	2.44%
UNH	Unitedhealth Group Inc Healthcare	Held	6,000	0	$2,344,440	−2.4%	7+	before history	2.30%
TMO	Thermo Fisher Scientific Inc. Healthcare	NEW	4,000	NEW	$2,285,320	NEW	1	$548.85	2.24%
ISRG	Intuitive Surgical Inc Healthcare	Held	2,200	0	$2,187,129	+8.1%	7+	before history	2.15%
OKE	Oneok Inc Energy	Added	37,000	+12,000	$2,145,630	+54.3%	7+	before history	2.11%
TWI	Titan International Inc Industrials	Reduced	289,938	-309,915	$2,075,956	−59.2%	3	$8.04	2.04%
LMT	Lockheed Martin Corp Industrials	Held	6,000	0	$2,070,600	−8.8%	7+	before history	2.03%
PFE	Pfizer Inc Healthcare	NEW	48,000	NEW	$2,064,480	NEW	1	$44.30	2.03%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Added	13,400	+2,200	$1,983,870	−21.9%	7+	before history	1.95%
TJX	Tjx Companies Inc Consumer Cyclical	NEW	30,000	NEW	$1,979,400	NEW	1	$69.82	1.94%
CROX	Crocs, Inc. Consumer Cyclical	Added	12,500	+2,500	$1,793,500	+53.9%	3	$88.45	1.76%
TRP	Tc Energy Corp Energy	Held	36,000	0	$1,731,240	−2.9%	7+	before history	1.70%
FLWS	1 800 Flowers Com Inc Consumer Cyclical	Held	56,000	0	$1,708,560	−4.3%	6	$22.70	1.68%
BMY	Bristol Myers Squibb Co Healthcare	Held	28,000	0	$1,656,760	−11.4%	7+	before history	1.63%
AMD	Advanced Micro Devices Inc Technology	Held	16,000	0	$1,646,400	+9.5%	5	$74.25	1.62%
CME	Cme Group Inc. Financial Services	Held	8,500	0	$1,643,730	−9.1%	7+	before history	1.61%
NTES	NetEase, Inc. Communication Services	Added	19,000	+4,000	$1,622,600	−6.1%	7+	before history	1.59%
XYZ	Block, Inc. Technology	Held	6,500	0	$1,558,960	−1.6%	6	$76.56	1.53%
BLDR	Builders FirstSource, Inc. Industrials	Held	30,000	0	$1,552,200	+21.3%	5	$27.14	1.52%
IDA	Idacorp Inc Utilities	NEW	14,284	NEW	$1,476,679	NEW	1	$104.50	1.45%
SPGI	S&P Global Inc. Financial Services	Held	3,000	0	$1,274,670	+3.5%	3	unpriced	1.25%
ENB	Enbridge Inc Energy	Held	32,000	0	$1,273,600	−0.6%	7+	before history	1.25%
CNXC	Concentrix Corp Technology	Held	7,000	0	$1,239,000	+10.1%	4	$99.96	1.22%
MU	Micron Technology Inc Technology	NEW	17,000	NEW	$1,206,660	NEW	1	$75.09	1.18%
		Held	15,000	0	$1,161,000	−18.9%	5	unpriced	1.14%
VSXY	Victoria's Secret & Co. Consumer Cyclical	NEW	21,000	NEW	$1,160,460	NEW	1	$60.70	1.14%
JNJ	Johnson & Johnson Healthcare	NEW	6,400	NEW	$1,033,600	NEW	1	$170.61	1.01%
TXN	Texas Instruments Inc Technology	Held	5,000	0	$961,050	−0.0%	2	$187.44	0.94%
T	At&T Inc. Communication Services	Held	30,000	0	$810,299	−6.2%	7+	before history	0.80%
AEIS	Advanced Energy Industries Inc Industrials	Held	9,000	0	$789,750	−22.1%	2	$105.99	0.78%
SNX	Td Synnex Corp Technology	Held	7,000	0	$728,700	−14.5%	7+	before history	0.72%
		Held	5,000	0	$477,000	−23.3%	3	unpriced	0.47%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.