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Here Are BlueCrest's Biggest Holdings
Following the the stunning news that BlueCrest, until recently one of the Europe's largest and fastest growing hedge funds, will be essentially unwinding as it returns the bulk of its managed money to outside investors (according to Bloomberg $7 billion of the $8 billion in AUM will be returned), and will liquidate the vast majority of its holdings, the question is just which securities will have the overhang of a forced seller over the next few months.
The (partial) answer comes from BlueCrest's latest 13-F, which lists some 846 securities amounting to just over $3 billion. And while the breakdown includes various fixed income investments and derivatives (both calls and puts), here are the Top 10 pure-play stock investments listed by the fund.
China's "regulators" will hardly be pleased that one of the world's most prominent hedge funds is about to take an axe to 2 of its three biggest holdings which just happen to be Chinese market darlings, CNOOC and Petrochina.
And a breakdown by industry courtesy of Bloomberg:
One thing stands out in the chart above: the fund's surprising overexposure to Energy assets. Perhaps that is also the reason for its fund's premature quasi demise?
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People pay 2/20 for some fucker to buy SPY shares? Jesus, some rich people stupid as fuck.
American Homes 4 Rent?
Hmm...American CEO's Get Bent
How are they going to unwind, I thought selling was illegal???
Works in a market that only goes up - not so much when the market goes sideways. A lot of money managers have looked 'smart' buying everything. Only the smart ones are able to tell when to sell.
There are numerous trading strategies that require active management, and would justify a large SPY position by a hedge fund. Whether a given fund manager is actually worth 2/20 or most rich people are smart enough to actually understand the fund prospectus they are supposed to read... are entirely different issues.
Humorously, an equally allocated SPY/TLT portfolio over the course of the last 10 years would have completely obliterated about 99% of hedgie performance.
Too bad for 'active' managers that time and time again, are out performed by simply buying SPY/QQQ/IWM. Save loads on fees and only costs 8.99/trade. ETrade Baby FTMFW!
more like pension funds
"People pay 2/20 for some fucker to buy SPY shares? "
My thoughts exactly - that's a lot of money to pay a timing service!
How would those stock holdings be effected by an interest rate rise by the FED and a further drop in oil prices?
Anyone?
Umm, badly?
Based on their holdings: Junk these fuckers.
http://public.econ.duke.edu/~ap172/HFImpact_13aug2015.pdf
I am all IN energy and copper.
Economy collapsed / hit bottom.
Assuming world war III starts a lot of Energy will be burned and a lot of Copper will be forged into ammo.
SO..........
Energy, Copper, Silver, Gold, Food, If I had some more $$ Id probably buy some arms manufactures stocks as well war stocks ahead of WWIII is the way to go.
WWIII has like an 80% chance of starting 2016, people dont know how unstable countries like Turkey are, Turkish Govt /Rulers are fucking insane militarists/Genocidal the odds of a war not starting are slim to none, they will do something stupid like try and sink a Russia ship or something and all hell with break out, Russia is just waiting for a turkish sub to attack one of its ships.
Turkey just doesn't understand how out-gunned they are, and they are delusional if they think Nato countries like Greece will have their back against Russia after all the war crimes Turkey has commited against Greece/other nations in the past.
I'm with you Dre4..I gotta be right this time , long oil. but then I haven't picked a winner in years..
Lots of energy and resources will be nationalized since profits will be bad form at a time of war.
This, but for different reasons. A short war wont impact the spot prices for copper, as the munition contracts are longer-term and cartels like the US keep a good inventory. A desperate war means your holdings are likely to be confiscated, or price-capped, or rationed. You've got to have the 'Goldilocks' war, not too short, not too long, not too desperate. Not to fear, though. The US cartel, along with the CIA which substantially runs foreign policy (by only showing the monkeys in the White House/Congress what they want to show them), is adept at this sort of 'Goldilocks' war.
I'm there too but.....WW3 could break all the rules for war
No mass casualties
No mass conventional weapons or armies
No resource spike
War has changed, it's a lot more "personal" and strategic.
There will be no carrier building boom or mass conscription.
The copper will rule if it isn't nationalized by commies or taken by creditors but it may take a decade not because of war but electrical modernization.
The robot army craves copper.
WWIII? How do you assume you will be able to collect or that there will be anything to collect if you are still alive?
Grid down - communications/internet down - electronic records EMP'd - no fuel distribution - food scarce - roving bands of highwaymen - banks closed except for local cash?- Federal Reserve at ground zero-
C'mon, get real!
China / Imf world currency basket.
On the equity side the big holding, CNOOC at 12% seemed to be the play.
Weakening oil price and still strengthening dollar is still in play.
However, they suffer the same problem the rest of us face: where is the short term ROI going to come from.
To disperse mostly solvent, is a Saint's exit (Mr Corzine).
They should have gone to the second day of class. There was no hedging in this hedge fund apparently. Oh well.
I agree that seems like a lame portfolio, but also we don't know how much hedging was going on in addition to these holdings. Would like to have a peek at their derivatives portfolio:
And while the breakdown includes various fixed income investments and derivatives (both calls and puts)
3 billion in equities ----phft---drop in the bucket. It's the propaganda value that has import here IMHO
They know the Fed is the only big player buying stocks and it won't end well.
Sell is all...............NOW.
That's a painful portfolio.