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Disclosery

Bocage Capital, LLC

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13F filer, CIK 1534017, SAN FRANCISCO, CA

Bocage Capital, LLC reported $159,180,000 across 16 holdings for the quarter ended 2016-06-30, in a 13F-HR filed 2016-08-15. Its ten largest share positions make up 85.16% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001140361-16-076481

Period
2016-06-30
Reported value
$159M
Holdings
16
Top 10 weight
85.16%
New
8
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RSP PERMIAN INCnew+285,431$9.96M
FANGnew+102,925$9.39M
CONSOL ENERGY INCnew+571,068$9.19M
SIBANYE GOLD LTDnew+672,373$9.16M
YAMANA GOLD INCnew+1,633,884$8.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
UNITED STATES STL CORP NEWexited-912,283-$14.6M
TESORO CORPexited-153,364-$13.2M
KGCexited-3,841,046-$13.1M
DYNEGY INC NEW DELreduced-623,541-$10.7M
WESTROCK COreduced-269,713-$10.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2016

Share positions as resolved from 13F-HR 0001140361-16-076481, largest first. % of portfolio is the value over $122,465,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
DYNEGY INC NEW DELDYNEGY INC NEW DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: 770,386 shares; 2015Q3: 1,216,866 shares; 2015Q4: 774,600 shares; 2016Q1: 1,560,260 shares; 2016Q2: 936,719 shares 936,719$16.1M13.19%-623,541
NRGNRG ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: 541,688 shares; 2015Q3: 868,064 shares; 2015Q4: 413,355 shares; 2016Q1: 1,085,072 shares; 2016Q2: 850,685 shares 850,685$12.8M10.41%-234,387Timeline
CTRACOTERRA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: 713,118 shares; 2015Q3: 621,743 shares; 2015Q4: 150,456 shares; 2016Q1: 408,187 shares; 2016Q2: 476,846 shares 476,846$12.3M10.02%+68,659Timeline
RSP PERMIAN INCRSP PERMIAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: not reported; 2016Q2: 285,431 shares 285,431$9.96M8.13%new
FANGDIAMONDBACK ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: not reported; 2016Q2: 102,925 shares 102,925$9.39M7.67%newTimeline
CONSOL ENERGY INCCONSOL ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: not reported; 2016Q2: 571,068 shares 571,068$9.19M7.5%new
SIBANYE GOLD LTDSIBANYE GOLD LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: 118,188 shares; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: not reported; 2016Q2: 672,373 shares 672,373$9.16M7.48%new
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: 208,471 shares; 2015Q3: 538,381 shares; 2015Q4: 162,688 shares; 2016Q1: 139,524 shares; 2016Q2: 200,871 shares 200,871$8.67M7.08%+61,347Timeline
YAMANA GOLD INCYAMANA GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: not reported; 2016Q2: 1,633,884 shares 1,633,884$8.5M6.94%new
WESTROCK COWESTROCK COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: 322,069 shares; 2015Q4: 100,033 shares; 2016Q1: 482,383 shares; 2016Q2: 212,670 shares 212,670$8.27M6.75%-269,713
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: 367,081 shares; 2016Q1: not reported; 2016Q2: 298,228 shares 298,228$7.91M6.46%newTimeline
NGVTINGEVITY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: not reported; 2016Q2: 178,621 shares 178,621$6.08M4.96%newTimeline
GPKGRAPHIC PACKAGING HLDG COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: not reported; 2015Q3: not reported; 2015Q4: not reported; 2016Q1: 453,988 shares; 2016Q2: 326,331 shares 326,331$4.09M3.34%-127,657Timeline
DYNEGY INC WARRANTDYNEGY INC WARRANTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2014Q3: restricted; 2014Q4: restricted; 2015Q1: restricted; 2015Q2: 240,752 shares; 2015Q3: 240,752 shares; 2015Q4: 240,752 shares; 2016Q1: 240,752 shares; 2016Q2: 240,752 shares 240,752$85K0.07%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
AK STEEL HOLDING CORPAK STEEL HOLDING CORP COMcall5,250,000$24.5M+4,590,000
STLDSTEEL DYNAMICS INC Stockcall500,000$12.2Mnew

Sold out in Q2 2016

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
UNITED STATES STL CORP NEWUNITED STATES STL CORP NEW912,283$14.6Mshares
TESORO CORPTESORO CORP153,364$13.2Mshares
KGCKINROSS GOLD CORP3,841,046$13.1Mshares
PBFPBF ENERGY INC282,709$9.39Mshares
VALEVALE S A1,168,300$4.92Mshares
CHESEPEAKE ENERGY CORPCHESEPEAKE ENERGY CORP289,306$1.19Mshares

How Q2 2016 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001140361-16-076481 base2016-08-15acceptance time not in the bulk data set