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.
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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:
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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?
