Cheyne Capital Management (UK) LLP

CIK

1390457

Location

LONDON, X0

Portfolio Value

Micro $23,630,068

Diversification

Highly concentrated

Filing Date

Global Rank

#7,308 / 7,461 ▼ 487 · as of Dec 2023

Top Industry

Drug Manufacturers - General 51.8%

3Y Alpha vs SPY

+27.3%

Period ended 2 years ago

Filed Feb 12, 2024 · 2y

16 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 Dec 31, 2023, never from the firm's own description.

Style

Concentrated

The top 10 positions are 96.6% of the book (60%+)

Turnover

Medium turnover

97.1% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 5.2 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 98.4%; sector active share 74.7% against the combined 13F book's sector weights.

Over time 16 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

13 tracked positions · as of Dec 31, 2023 · Δ vs Sep 30, 2023

Top Position

49.7%

+15.5 pts

Top 5

77.8%

+7.4 pts

Top 10

96.6%

+9.3 pts

HHI

2,760

Highly concentrated+1,097

Portfolio Trend

16 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2023

Sector	% Portfolio	Value	Positions
Healthcare	49.7%	$11,748,169	1
Energy	36.9%	$8,721,985	6
Basic Materials	5.9%	$1,402,504	2
Unclassified	4.1%	$961,400	1
Consumer Defensive	2.1%	$502,810	1
Communication Services	0.7%	$170,700	1
Technology	0.5%	$122,500	1

Last Quarter's Activity

Export CSV

Dec 31, 2023 vs Sep 30, 2023

Added To

Positions the filer increased

3 positions

Ticker	Company	Δ Shares	Shares	Value
CVE	Cenovus Energy Inc.	+44,615	97,615	$1,625,289
SU	Suncor Energy Inc	+24,176	70,476	$2,258,051
LLY	ELI LILLY & Co	+1,184	20,154	$11,748,169
No positions match the current search.

Trimmed

Positions the filer reduced

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
OXY	Occidental Petroleum Corp	−26,750	26,750	$1,597,242
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
S	SentinelOne, Inc.	266,700	$4,496,562
IQV	Iqvia Holdings Inc.	4,800	$944,400
UBER	Uber Technologies, Inc	20,000	$919,800
CRL	Charles River Laboratories International, Inc.	2,500	$489,950
—		31,000	$254,200
TVTX	Travere Therapeutics, Inc.	26,200	$234,228
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

13 tracked positions · $23,630,068 total · filing declares 15 positions · $27,851,487 · as of Dec 31, 2023

All sectors Basic Materials Communication Services Consumer Defensive Energy Healthcare Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
LLY	ELI LILLY & Co Healthcare	Added	20,154	+1,184	$11,748,169	+15.3%	4	$387.16	49.72%
SU	Suncor Energy Inc Energy	Added	70,476	+24,176	$2,258,051	+41.9%	12	$24.08	9.56%
CVE	Cenovus Energy Inc. Energy	Added	97,615	+44,615	$1,625,289	+47.3%	2	$18.74	6.88%
OXY	Occidental Petroleum Corp Energy	Reduced	26,750	-26,750	$1,597,242	−54.0%	13	$43.01	6.76%
NE	Noble Corp plc Energy	Held	24,000	0	$1,155,840	−4.9%	6	$29.55	4.89%
KMI	Kinder Morgan, Inc. Energy	Held	60,000	0	$1,058,400	+6.4%	3	$16.98	4.48%
CRC	California Resources Corp Energy	Held	18,785	0	$1,027,163	−2.4%	2	$53.25	4.35%
EWZ	iShares MSCI Brazil ETF	Held	27,500	0	$961,400	+14.0%	4	$28.02	4.07%
AEM	Agnico Eagle Mines Ltd Basic Materials	Held	16,400	0	$899,540	+20.7%	2	$49.04	3.81%
PAAS	Pan American Silver Corp Basic Materials	Held	30,800	0	$502,964	+12.8%	8	$24.62	2.13%
KR	Kroger Co Consumer Defensive	Held	11,000	0	$502,810	+2.1%	3	$47.70	2.13%
		Held	15,000	0	$170,700	+4.8%	3	$12.98	0.72%
BIRD	Smartbird, Inc. Technology	Held	100,000	0	$122,500	+10.4%	2	$1.35	0.52%

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.