Fore Research & Management, LP
Follow13F filer, CIK 1313597, NEW YORK, NY
Fore Research & Management, LP reported $724,887,000 across 25 holdings for the quarter ended 2016-12-31, in a 13F-HR/A filed 2017-03-08. Its ten largest share positions make up 98.93% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR/A 0001313597-17-000009
A NEW HOLDINGS amendment repeated most of the original and was read as a restatement (H3).
- Period
- 2016-12-31
- Reported value
- $725M
- Holdings
- 25
- Top 10 weight
- 98.93%
- New
- 17
- Sold out
- 13
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| WELLS FARGO & CO NEWnew | +196,000 | $4.18M |
| CA INC COMnew | +100,000 | $3.18M |
| VODnew | +100,000 | $2.44M |
| LIBERTY GLOBAL PLCnew | +100,000 | $2.12M |
| NXPInew | +20,000 | $1.96M |
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
| Security | Shares change | Approx. value |
|---|---|---|
| GLDexited | -5,000,000 | -$628M |
| SPYexited | -1,050,000 | -$227M |
| SLVexited | -3,452,000 | -$62.8M |
| GDXreduced | -2,000,000 | -$41.8M |
| SPROTT PHYSICAL GOLD SILVERexited | -564,040 | -$7.8M |
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, Q4 2016
Share positions as resolved from 13F-HR/A 0001313597-17-000009, largest first. % of portfolio is the value over $198,998,000, the sum of the share positions whose value is usable for ratios (method).
| Security | History | Shares | Value | % of portfolio | Change | Latest event | Timeline |
|---|---|---|---|---|---|---|---|
| GDXVANECK ETF TRUST | 300,000 | $6.28M | 3.15% | -2,000,000 | Timeline | ||
| WELLS FARGO & CO NEWWELLS FARGO & CO NEW | 196,000 | $4.18M | 2.1% | new | |||
| CA INC COMCA INC COM | 100,000 | $3.18M | 1.6% | new | |||
| VODVODAFONE GROUP PLC | 100,000 | $2.44M | 1.23% | new | Timeline | ||
| LIBERTY GLOBAL PLCLIBERTY GLOBAL PLC | 100,000 | $2.12M | 1.06% | new | |||
| NXPINXP SEMICONDUCTORS N V | 20,000 | $1.96M | 0.98% | new | Timeline | ||
| SYNGENTA AG ADRSYNGENTA AG ADR | 10,000 | $790K | 0.4% | new | |||
| ADVENT CLAY CONV SEC INC FDADVENT CLAY CONV SEC INC FD | 130,000 | $764K | 0.38% | new | |||
| MYLAN NVMYLAN NV | 12,000 | $457K | 0.23% | -38,000 | |||
| NGDNEW GOLD INC | 97,713 | $342K | 0.17% | new | Timeline | ||
| BARRICK GOLD CORPBARRICK GOLD CORP | 10,000 | $159K | 0.08% | 0 | |||
| GOLDCORP INC NEWGOLDCORP INC NEW | 10,000 | $136K | 0.07% | 0 | |||
| NGNOVAGOLD RESOURCES INC | 21,700 | $98K | 0.05% | 0 | Timeline |
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).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| SPYSTATE STR SPDR S&P 500 ETF T SHS | put | 1,100,000 | $246M | new |
| GDXVANECK ETF TRUST GOLD MINERS ETF | call | 3,375,000 | $70.6M | new |
| IWMISHARES TR SHS | put | 400,000 | $53.9M | new |
| SLVISHARES SILVER TR COM | call | 2,700,000 | $40.8M | new |
| EEMISHARES TR MSCI EMG MKT ETF | put | 1,000,000 | $35M | new |
| DEDEERE & CO COM | put | 300,000 | $30.9M | new |
| CATCATERPILLAR INC COM | put | 300,000 | $27.8M | new |
| GDXVANECK ETF TRUST GOLD MINERS ETF | put | 1,000,000 | $20.9M | new |
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| CTRIP COM INTL LTDCTRIP COM INTL LTD NOTE 1.250%10/1 | principal | 139,369,000 | $162M | -110,500,000 |
| TWITTER INCTWITTER INC NOTE 1.000% 9/1 | principal | 10,000,000 | $9.25M | +9,000,000 |
| ENBRIDGE INC 6 77ENBRIDGE INC 6 77 Debt | principal | 5,000,000 | $5M | new |
| MANDIANT INCMANDIANT INC NOTE 1.625% 6/0 | principal | 200,000 | $181K | -800,000 |
Sold out in Q4 2016
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| GLDSPDR GOLD TR | 5,000,000 | $628M | shares |
| SPYSTATE STR SPDR S&P 500 ETF T | 1,050,000 | $227M | shares |
| SLVISHARES SILVER TR | 3,452,000 | $62.8M | shares |
| CTRIP COM INTL LTDCTRIP COM INTL LTD | 20,000,000 | $21.8M | principal |
| STANDARD PAC CORP 1.250STANDARD PAC CORP 1.250 | 14,500,000 | $15.2M | principal |
| ADVANCED MICRO DEVICES INCADVANCED MICRO DEVICES INC | 9,000,000 | $9.81M | principal |
| SPROTT PHYSICAL GOLD SILVERSPROTT PHYSICAL GOLD SILVER | 564,040 | $7.8M | shares |
| NAVISTAR INTL CORP NEWNAVISTAR INTL CORP NEW | 8,000,000 | $7.5M | principal |
| LIBERTY GLOBAL PLCLIBERTY GLOBAL PLC | 150,000 | $5.13M | shares |
| WFCWELLS FARGO & CO | 250,000 | $4.71M | shares |
| PHYSSPROTT ASSET MANAGEMENT LP | 300,000 | $3.29M | shares |
| KEYW HLDG CORPKEYW HLDG CORP | 1,000,000 | $973K | principal |
| NAVISTAR INTL CORP NEWNAVISTAR INTL CORP NEW | 1,000,000 | $956K | principal |
How Q4 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).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001313597-17-000002 | superseded | 2017-02-14 | acceptance time not in the bulk data set | ||
| 13F-HR/A 0001313597-17-000007 | superseded | new holdings | 2017-02-23 | acceptance time not in the bulk data set | |
| 13F-HR/A 0001313597-17-000009 | base | restatement | 2017-03-08 | acceptance time not in the bulk data set |