P&S Credit Management, L.P.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 15, 2024), P&S Credit Management, L.P. reported 9 stock positions worth $18.5 million. Its top holding was Chevron (CVX) at 17.1% of the portfolio, followed by General Motors (GM, 16.0%) and Freeport-McMoran (FCX, 15.3%). Compared with Q4 2023, it opened 2 new positions, sold out of 3, added to 1 and reduced 3. The biggest buy was a new position in Chevron (CVX) and the biggest sale Freeport-McMoran (FCX, shares −17%).

Most Recent 13F
Q1 2024
Location
New York, NY
CIK
0001484159
Portfolio Value
$18.5M (Q1 2024)
SEC Filing
0001814554-24-000004 ↗ filed Apr 15, 2024

Holdings 9 stocks · $18.5M
CVX Chevron Corp. 17.10% 20,000 $3.2M New
GM General Motors Co. 15.98% 65,015 $2.9M Reduce -18.7%
FCX Freeport-McMoran Inc. 15.29% 60,000 $2.8M Reduce -16.7%
CLF Cleveland-Cliffs Inc. 14.79% 120,000 $2.7M No change
XOM Exxon Mobil Corp. 12.88% 20,446 $2.4M No change
PBR Petroleo Brasileiro-Spon ADR 7.01% 85,000 $1.3M Add +88.9%
SWN Southwestern Energy Co. 6.78% 165,000 $1.3M No change
QQQ Invesco QQQ Trust Series 1 5.46% 2,271 $1.0M New
AR Antero Resources Corp. 4.71% 30,000 $870K Reduce -25.0%

Options reported separately and not counted above: SPY puts ($18.3M), QQQ puts ($12.0M), IWM puts ($9.6M), XOP puts ($4.2M).

Portfolio Sells Q4 2023 → Q1 2024
FCX Freeport-McMoran Inc. Reduce -16.7% 15.29% −5.34
FANG Diamondback Energy Inc. Sold out 0.00% −4.18
CNX CNX Resources Corp. Sold out 0.00% −4.04
GM General Motors Co. Reduce -18.7% 15.98% −3.36
TROX Tronox Holdings PLC Sold out 0.00% −3.34
AR Antero Resources Corp. Reduce -25.0% 4.71% −1.39

Portfolio Buys Q4 2023 → Q1 2024
CVX Chevron Corp. New 17.10% +17.10
QQQ Invesco QQQ Trust Series 1 New 5.46% +5.46
PBR Petroleo Brasileiro-Spon ADR Add +88.9% 7.01% +2.17

Options Activity Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US put Add +45.8% 35,000 $18.3M
QQQ Invesco QQQ Trust Series 1 put New 27,000 $12.0M
IWM iShares Russell 2000 ETF put Reduce -57.1% 45,500 $9.6M
XOP SS SPDR S&P Og Exp & Prod put Add +8.0% 27,000 $4.2M
WYNN WYNN Resorts Ltd. call Sold out 45,000 $4.1Mbefore exit
FXI iShares China Large-Cap ETF call Sold out 161,000 $3.9Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2024 9$18.5MCVX, GM, FCX, CLF, XOM