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Cheyne Capital Management (UK) LLP Historical SEC 13F Holdings & Archive (Q4 2023)
Cheyne Capital Management (UK) LLPCIK: 0001390457
Sector-focusedConcentrated strategyLong-term holder
Total reported value
$27.9M
Reporting period: 2023-12-31 · Number of holdings: 15
Cheyne Capital Management (UK) LLP disclosed 15 holdings in its latest 13F filing for the period ending 2023-12-31, with total reported value of $27.9M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 86.4
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 30
- Sizing Uniformity
- 84.51
Cheyne Capital Management (UK) LLP's disclosed holdings carry a Herfindahl concentration index of 0.216 — mathematically equivalent to about 5 equally-sized positions, well below its 15 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.55), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNo holding changes this quarter
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | LLY | Eli Lilly & Co | Stock-Healthcare | 42.18% | — | +6.24% | |
| 2 | ABX | Barrick Gold CORP | Stock-Financials | 12.99% | — | — | |
| 3 | SU | Suncor Energy Inc | Stock-Energy | 8.11% | — | +52.22% | |
| 4 | CVE | Cenovus Energy Inc | Stock-Energy | 5.84% | — | +84.18% | |
| 5 | OXY | Occidental Petroleum CORP | Stock-Energy | 5.73% | — | -50.00% | |
| 6 | NE | Noble Corporation plc | Stock-Energy | 4.15% | — | — | |
| 7 | KMI | Kinder Morgan, Inc. | Stock-Energy | 3.80% | — | — | |
| 8 | CRC | California Resources CORP | Stock-Energy | 3.69% | — | — | |
| 9 | EWZ | Ishares Msci Brazil ETF | ETF-Other | 3.45% | — | — | |
| 10 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 3.23% | — | — | |
| 11 | OXY-WS | Occidental Petroleum-cw27 | Stock-Other | 2.17% | — | — | |
| 12 | PAAS | Pan American Silver CORP | Stock-Materials | 1.81% | — | — | |
| 13 | KR | Kroger Co | Stock-Consumer Staples | 1.81% | — | — | |
| 14 | WBD | Warner Bros Discovery Inc | Stock-Comm Services | 0.61% | — | — | |
| 15 | BIRDGBP | Allbirds Inc-cl A | Stock-Other | 0.44% | — | — |
Portfolio Performance
Performance for Q3 2026
+5.7%
Performance Last 4 Quarters
+53.3%
- Stdev
- +18.8%
- Beta
- +0.39
- Alpha
- +17.7%
- Max Drawdown
- -15.1%
- Annualized Perf
- +26.6%
- Batting Avg vs S&P
- +61.1%
- Sortino
- +2.9
- Stutzer
- +0.41
- Treynor
- +0.66
- Sterling
- +1.59
- Calmar
- +1.77
- Information Ratio
- +0.28
- Tracking Error
- +19.7%
- Stdev Down
- +8.8%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +54.1%
- Worst 12 Months
- -9.8%
- Efficiency Ratio
- +0.62
- Sharpe
- +1.36
- Stdev Sectors
- +16.8%
- Skewness
- +0.41
- Kurtosis
- +0.68
- Upside Potential
- +4.59
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2023 Q4 | 15 | $27.9M | 0 | ||
| 2023 Q3 | 24 | $34.7M | 0 | ||
| 2023 Q2 | 19 | $27.1M | 0 | ||
| 2023 Q1 | 22 | $31.5M | 0 | ||
| 2022 Q4 | 59 | $57.2M | 0 | ||
| 2022 Q3 | 35 | $46.8M | 0 | ||
| 2022 Q2 | 108 | $118.4M | 0 | ||
| 2022 Q1 | 142 | $158.9M | 0 | ||
| 2021 Q4 | 125 | $153.5M | 0 | ||
| 2021 Q3 | 112 | $168.0M | 0 | ||
| 2021 Q2 | 114 | $219.7M | 84 | ||
| 2021 Q1 | 100 | $157.8M | 100 | ||
| 2020 Q4 | 88 | $197.7M | 87 | ||
| 2020 Q3 | 57 | $202.6M | 76 | ||
| 2020 Q2 | 46 | $148.0M | 79 | ||
| 2020 Q1 | 40 | $97.1M | 97 | ||
| 2019 Q4 | 43 | $165.0M | 51 | ||
| 2019 Q3 | 40 | $158.4M | 56 | 1TWTR 0.25 06-15-242SPLK 0.5 09-15-233BKNG 0.9 09-15-21 | |
| 2019 Q2 | 42 | $137.8M | 78 | 1TWTR 0.25 06-15-242AKAM 0.125 05-01-253BKNG 0.9 09-15-21 | |
| 2019 Q1 | 35 | $107.0M | 57 | ||
| 2018 Q4 | 35 | $105.8M | 58 | 1NXPI 1 12-01-192GWRE 1.25 03-15-253VGR V1.75 04-15-20 | |
| 2018 Q3 | 41 | $168.3M | 27 | ||
| 2018 Q2 | 34 | $140.4M | 100 | 1NXPI 1 12-01-192AKAM 0 02-15-193JAZZ 1.875 08-15-21 | |
| 2018 Q1 | 34 | $221.2M | 54 | ||
| 2017 Q4 | 36 | $229.7M | 82 | ||
| 2017 Q3 | 46 | $277.1M | 100 | ||
| 2017 Q2 | 45 | $260.2M | 100 | ||
| 2017 Q1 | 33 | $264.7M | 57 | ||
| 2016 Q4 | 28 | $177.9M | 100 | ||
| 2016 Q3 | 31 | $166.3M | 100 | 101449J253578A361166W | |
| 2016 Q2 | 25 | $124.2M | 100 | ||
| 2016 Q1 | 31 | $301.8M | 100 | ||
| 2015 Q4 | 33 | $184.8M | 100 | ||
| 2015 Q3 | 41 | $213.2M | 100 | ||
| 2015 Q2 | 82 | $309.2M | 100 | 125490A273179V3148887 | |
| 2015 Q1 | 64 | $414.8M | 87 | 125490A287264S3441060 | |
| 2014 Q4 | 56 | $380.3M | 100 | ||
| 2014 Q3 | 49 | $280.5M | 100 | ||
| 2014 Q2 | 53 | $86.4M | 100 | ||
| 2014 Q1 | 59 | $104.3M | 100 | ||
| 2013 Q4 | 56 | $92.6M | 100 | ||
| 2013 Q3 | 47 | $132.1M | 100 | ||
| 2013 Q2 | 52 | $151.5M | 0 |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
Filing History
FAQ
What is Cheyne Capital Management (UK) LLP and what type of investor is it?
Cheyne Capital Management (UK) LLP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2023-12-31), the firm manages a tracked equity portfolio valued at approximately $27.9M, spread across 15 disclosed positions.
What are Cheyne Capital Management (UK) LLP's largest equity positions?
Based on the latest 13F filing, Cheyne Capital Management (UK) LLP's top holdings by market value are:
1. Eli Lilly & Co (LLY) — $11.7M (42.2%)
2. Barrick Gold CORP (ABX) — $3.6M (13.0%)
3. Suncor Energy Inc (SU) — $2.3M (8.1%)
4. Cenovus Energy Inc (CVE) — $1.6M (5.8%)
5. Occidental Petroleum CORP (OXY) — $1.6M (5.7%)
What changes did Cheyne Capital Management (UK) LLP make in its most recent portfolio filing?
No notable portfolio changes were recorded for Cheyne Capital Management (UK) LLP in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does Cheyne Capital Management (UK) LLP focus on?
Cheyne Capital Management (UK) LLP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 44.9%
• Energy: 33.3%
• Financials: 13.8%
• Materials: 5.4%
• Consumer Staples: 1.9%
• Communication Services: 0.7%
Investment Profile
Cheyne Capital Management (UK) LLP returned an annualized 26.6% over the trailing 36 months — outperforming the S&P 500 by 17.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.39 (less volatile than the market) and a 61% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 44.9% of the portfolio concentrated in Health Care.
Its concentration score has risen from 16 to 86 over the past 4 quarters — a shift toward higher-conviction positions.
It has added to its LLY position over the past two quarters (+$4.7M, now $11.7M), while trimming NE over the same stretch (-$170.2K, still holding $1.2M).
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