Newfoundland Capital Management's Q1 2022 13F: 7 new positions, 19 exits
Form 13F-HR for the quarter ended Mar 31, 2022 · filed May 16, 2022 · 14 reported positions · accession 0001172661-22-001369
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| New | PETROLEO BRASILEIRO SA PETRO (PBR) | — | 14.8% | +14.8 pts | +559K sh | new |
| Exited | FOMENTO ECONOMICO MEXICANO S (FMX) | 14.3% | — | −14.3 pts | −129K sh | −100% |
| Exited | PETROLEO BRASILEIRO SA PETRO (PBRA) | 9.6% | — | −9.6 pts | −667K sh | −100% |
| Exited | KINROSS GOLD CORP (KGC) | 9.3% | — | −9.3 pts | −1.12M sh | −100% |
| Increased | ZENVIA INC (ZENV) | 1.0% | 9.1% | +8.1 pts | +738K sh | +731% |
| Exited | XP INC (XP) | 6.7% | — | −6.7 pts | −165K sh | −100% |
| New | SPDR GOLD TR (GLD) | — | 6.4% | +6.4 pts | +20,000 sh | new |
| New | VALE S A (VALE) | — | 5.5% | +5.5 pts | +156K sh | new |
| Exited | CEMEX SAB DE CV (CX) | 4.4% | — | −4.4 pts | −452K sh | −100% |
| New | VTEX (VTEX) | — | 4.0% | +4.0 pts | +365K sh | new |
| Exited | AZUL S A (AZULQ) | 3.9% | — | −3.9 pts | −210K sh | −100% |
| Exited | PAGSEGURO DIGITAL LTD (PAGS) | 3.2% | — | −3.2 pts | −84,480 sh | −100% |
| Reduced | BANCO BRADESCO S A (BBD) | 3.5% | 2.9% | −0.6 pts | −362K sh | −51% |
| Increased | GEOPARK LTD (GPRK) | 7.5% | 15.1% | +7.6 pts | +110K sh | +24% |
| New | LIBERTY LATIN AMERICA LTD (LILAK) | — | 2.8% | +2.8 pts | +165K sh | new |
| Reduced | VASTA PLATFORM LTD (VSTA) | 20.4% | 31.9% | +11.5 pts | −252K sh | −7% |
| Exited | BUNGE LIMITED (BG) | 2.5% | — | −2.5 pts | −18,549 sh | −100% |
| New | SOCIEDAD QUIMICA Y MINERA DE (SQM) | — | 2.1% | +2.1 pts | +13,500 sh | new |
| Exited | ITAU UNIBANCO HLDG S A (ITU) | 2.0% | — | −2.0 pts | −380K sh | −100% |
| Exited | BANCO SANTANDER BRASIL S A (BSBR) | 2.0% | — | −2.0 pts | −256K sh | −100% |
| Exited | CONTROLADORA VUELA COMP DE A (VLRS) | 1.5% | — | −1.5 pts | −59,327 sh | −100% |
| New | LIBERTY LATIN AMERICA LTD (LILA) | — | 1.3% | +1.3 pts | +73,725 sh | new |
| Exited | BANCO SANTANDER CHILE NEW (BSAC) | 1.0% | — | −1.0 pts | −43,401 sh | −100% |
| Exited | VANECK ETF TRUST (GDX) | 1.0% | — | −1.0 pts | −21,000 sh | −100% |
| Exited | PILGRIMS PRIDE CORP (PPC) | 0.9% | — | −0.9 pts | −21,749 sh | −100% |
| Reduced | MAG SILVER CORP (MAG) | 3.0% | 3.2% | +0.2 pts | −23,626 sh | −17% |
| Reduced | AENZA S.A.A (AENZ) | 0.9% | 0.6% | −0.3 pts | −177K sh | −47% |
| Exited | ISHARES TR (IWM) | 0.4% | — | −0.4 pts | −1,400 sh | −100% |
| Exited | LOMA NEGRA C I A S A MTN 14 (LOMA) | 0.3% | — | −0.3 pts | −31,763 sh | −100% |
| Exited | GERDAU SA (GGB) | 0.2% | — | −0.2 pts | −35,000 sh | −100% |
| Reduced | BANCO SANTANDER MEXICO SA (BSMX) | 0.5% | 0.4% | −0.1 pts | −17,886 sh | −29% |
| Exited | ISHARES INC (EWZ) | 0.0% | — | 0.0 pts | −1,000 sh | −100% |
| Exited | ARK ETF TR (ARKK) | 0.0% | — | 0.0 pts | −200 sh | −100% |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 95.7% of the equity book
Changes in the top 10 this quarter: PBR entered · ZENV entered · GLD entered · VALE entered · VTEX entered · MAG entered · LILAK entered · FMX left · PBRA left · KGC left · XP left · CX left · AZULQ left · PAGS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | VASTA PLATFORM LTD (VSTA) | 20.4% | 31.9% | |
| 2 | GEOPARK LTD (GPRK) | 7.5% | 15.1% | |
| 3 | PETROLEO BRASILEIRO SA PETRO (PBR) | 0.0% | 14.8% | Entered the top 10 |
| 4 | ZENVIA INC (ZENV) | 1.0% | 9.1% | Entered the top 10 |
| 5 | SPDR GOLD TR (GLD) | 0.0% | 6.4% | Entered the top 10 |
| 6 | VALE S A (VALE) | 0.0% | 5.5% | Entered the top 10 |
| 7 | VTEX (VTEX) | 0.0% | 4.0% | Entered the top 10 |
| 8 | MAG SILVER CORP (MAG) | 3.0% | 3.2% | Entered the top 10 |
| 9 | BANCO BRADESCO S A (BBD) | 3.5% | 2.9% | |
| 10 | LIBERTY LATIN AMERICA LTD (LILAK) | 0.0% | 2.8% | Entered the top 10 |
| — | FOMENTO ECONOMICO MEXICANO S (FMX) | 14.3% | 0.0% | Left the top 10 |
| — | PETROLEO BRASILEIRO SA PETRO (PBRA) | 9.6% | 0.0% | Left the top 10 |
| — | KINROSS GOLD CORP (KGC) | 9.3% | 0.0% | Left the top 10 |
| — | XP INC (XP) | 6.7% | 0.0% | Left the top 10 |
| — | CEMEX SAB DE CV (CX) | 4.4% | 0.0% | Left the top 10 |
| — | AZUL S A (AZULQ) | 3.9% | 0.0% | Left the top 10 |
| — | PAGSEGURO DIGITAL LTD (PAGS) | 3.2% | 0.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | INVESCO QQQ TR (QQQ) | Put | 0 | 363K | $131M |
| Increased | SPDR S&P 500 ETF TR (SPY) | Put | 23,500 | 160K | $72.3M |
| Exited | ISHARES INC (EWZ) | Call | 1.98M | 0 | $0 |
| Exited | ISHARES INC (ECH) | Call | 875K | 0 | $0 |
| Reduced | ISHARES TR (EEM) | Put | 312K | 25,000 | $1.13M |
| Exited | ISHARES TR (IWM) | Call | 50,000 | 0 | $0 |
| New | PETROLEO BRASILEIRO SA PETRO (PBRA) | Put | 0 | 763K | $10.7M |
| Reduced | SPDR S&P 500 ETF TR (SPY) | Call | 38,500 | 20,000 | $9.03M |
| Reduced | INVESCO QQQ TR (QQQ) | Call | 40,000 | 23,000 | $8.34M |
| Increased | ISHARES TR (EFA) | Put | 235K | 325K | $23.9M |
| Increased | SELECT SECTOR SPDR TR (XLF) | Put | 80,000 | 200K | $7.66M |
| Exited | ISHARES INC (ECH) | Put | 192K | 0 | $0 |
| Exited | SOCIEDAD QUIMICA Y MINERA DE (SQM) | Put | 83,600 | 0 | $0 |
| Exited | SOCIEDAD QUIMICA Y MINERA DE (SQM) | Call | 83,000 | 0 | $0 |
| Exited | GRUPO TELEVISA S A B (TV) | Call | 426K | 0 | $0 |
| New | ISHARES INC (EWZ) | Put | 0 | 100K | $3.78M |
| Exited | ISHARES INC (EWW) | Call | 70,000 | 0 | $0 |
| Exited | PETROLEO BRASILEIRO SA PETRO (PBRA) | Call | 313K | 0 | $0 |
| Exited | FOMENTO ECONOMICO MEXICANO S (FMX) | Call | 33,600 | 0 | $0 |
| Reduced | ISHARES TR (EEM) | Call | 60,000 | 8,000 | $361K |
| Increased | ISHARES INC (EWW) | Put | 80,000 | 120K | $6.6M |
| Reduced | ARK ETF TR (ARKK) | Put | 32,000 | 20,000 | $1.33M |
| Exited | BANCO SANTANDER CHILE NEW (BSAC) | Put | 70,800 | 0 | $0 |
| New | VANECK ETF TRUST (GDX) | Put | 0 | 30,000 | $1.15M |
| New | XP INC (XP) | Put | 0 | 24,000 | $722K |