Equal-WT
WhaleScore 2.0
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Brightline Capital Management is based out of Miami. Brightline Capital Management is a hedge fund with 2 clients and discretionary assets under management (AUM) of $196,422,747 (Form ADV from 2024-03-13). Their last reported 13F filing for Q2 2024 included $201,460,690 in managed 13F securities
and a top 10 holdings concentration of 73.09%. Brightline Capital Management's largest holding is Overseas Shipholding Group Inc with shares held of 2,150,000. Whalewisdom has at least 31 13F filings, 18 13D filings, and 10 13G filings
Business Description
Brightline Capital Management, LLC ("Brightline") was established in 2005 by Naval (Nick) Khera. Brightline manages two private funds, Brightline Capital Partners, L.P. ("BCP") and Brightline Capital Partners II, LP ("BCP II"), which invest in a wide range of assets, including equity and debt instruments, fixed income securities, convertible securities, derivatives, swaps, options, and other financial instruments and products.
Brightline manages these funds on a discretionary basis for a variety of investors, including U.S. taxpayers, U.S. tax-exempt entities, and non-U.S. investors. As of December 31, 2023, the Funds held approximately $196 million in assets. The disclosures provided, along with Brightline's policies and procedures, pertain to these Funds, and the individuals and entities invested in them are referred to as "Investors."
Investment Strategy
Brightline's investment strategy is value-driven and based on disciplined, rigorous fundamental analysis and research. They primarily invest with a bottom-up perspective, focusing on the individual company business model. They generally look for companies with strong fundamentals that are selling at prices that represent a discount to their conservative estimate of the company's long-run cash flows. Most investments have historically been made through U.S. financial markets in U.S.-based companies.
Brightline's investment strategy is focused on generating superior absolute returns. They believe that superior alpha generation is based upon prudent, fundamental stock selection coupled with appropriate position sizing and risk management. Constant evaluation of existing holdings relative to potential new portfolio entries maximizes the risk/reward of the portfolio.
Owners
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Known Email Addresses
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Other Contact Information
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2024-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| CDLR Cadeler AS | 8.08% |
| FLR Fluor Corp. | 7.89% |
| VTOL Bristow Group Inc | 6.82% |
| TPC Tutor Perini Corp. | 5.74% |
| KALU Kaiser Aluminum Corp | 4.32% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| OC Owens Corning Inc | 8.13% |
| CCL Carnival Corp. | 6.44% |
| CLF Cleveland-Cliffs Inc | 4.8% |
| BLBD Blue Bird Corp | 3.56% |
| GLDD Great Lakes Dredge & | 2.32% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| OSG Overseas Shipholding | 9.05% |
| CDLR Cadeler AS | 8.08% |
| REVG REV Group Inc | 7.99% |
| FLR Fluor Corp. | 7.89% |
| MBC MasterBrand Inc | 7.18% |
2024-06-30
13F Activity
| Market Value | $201m, Prior: $166m |
| Inflows (Outflows) as % of Total MV | +18.2602% |
| New Purchases | 8 stocks |
| Added To | 7 stocks |
| Sold out of | 4 stocks |
| Reduced holdings in | 3 stocks |
| Top 10 Holdings % | 73.09% |
| Turnover %[1] | 52.17% |
| Turnover Alt %[2] | 20.18% |
| Time Held Top 20 | 1.0526 quarters |
| Time Held Top 10 | 1.3 quarters |
| Time Held All | 1.16 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-06-30
13F Sector Allocation Over Time
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2024-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30