Progeny 3 13F annual report
Progeny 3 is an investment fund managing more than $1.04 trillion ran by Chris Hemingway. There are currently 29 companies in Mr. Hemingway’s portfolio. The largest investments include Cameco and Peabody Engr Corp, together worth $182 billion.
$1.04 trillion Assets Under Management (AUM)
As of 9th August 2024, Progeny 3’s top holding is 2,108,932 shares of Cameco currently worth over $104 billion and making up 9.9% of the portfolio value.
Relative to the number of outstanding shares of Cameco, Progeny 3 owns more than approximately 0.1% of the company.
In addition, the fund holds 3,523,734 shares of Peabody Engr Corp worth $77.9 billion.
The third-largest holding is APi worth $69.6 billion and the next is Alliance Resource Partners L worth $68.7 billion, with 2,807,401 shares owned.
Currently, Progeny 3's portfolio is worth at least $1.04 trillion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Progeny 3
The Progeny 3 office and employees reside in Kirkland, Washington. According to the last 13-F report filed with the SEC, Chris Hemingway serves as the Co-Chief Investment Officer at Progeny 3.
Recent trades
In the most recent 13F filing, Progeny 3 revealed that it had opened a new position in
Agnico Eagle Mines Ltd and bought 277,535 shares worth $18.2 billion.
This means they effectively own approximately 0.1% of the company.
Agnico Eagle Mines Ltd makes up
11.2%
of the fund's Materials sector allocation and has grown its share price by 70.0% in the past year.
The investment fund also strengthened its position in Peabody Engr Corp by buying
4,800 additional shares.
This makes their stake in Peabody Engr Corp total 3,523,734 shares worth $77.9 billion.
On the other hand, there are companies that Progeny 3 is getting rid of from its portfolio.
Progeny 3 closed its position in Ovintiv Inc on 16th August 2024.
It sold the previously owned 90,095 shares for $4.68 billion.
Chris Hemingway also disclosed a decreased stake in Sterling Check Corp by 0.1%.
This leaves the value of the investment at $47.7 billion and 3,222,912 shares.
One of the average hedge funds
The two most similar investment funds to Progeny 3 are Condor Capital Management and Howe & Rusling Inc. They manage $1.04 trillion and $1.04 trillion respectively.
Chris Hemingway investment strategy
Progeny 3’s portfolio is diversified across 8 sectors.
Currently, their heaviest sector is Materials — making up 15.5% of
the total portfolio value.
The fund focuses on investments in the United States as
44.8% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
28% of the total holdings value.
On the other hand, small-cap stocks make up only 3.4% of the portfolio.
The average market cap of the portfolio companies is close to $44.1 billion.
The complete list of Progeny 3 trades based on 13F SEC filings
These positions were updated on August 16th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Cameco Corp. |
No change
2,108,932
|
$103,759,454,000 | 9.95% |
| Peabody Engr Corp |
0.14%
3,523,734
|
$77,944,996,000 | 7.47% |
| APi Group Corporation |
No change
1,850,825
|
$69,646,545,000 | 6.68% |
| Alliance Resource Partners L |
2.76%
2,807,401
|
$68,669,028,000 | 6.58% |
| Vanguard Index Fds |
No change
125,200
|
$62,616,276,000 | 6.00% |
| Par Technology Corp. |
10.90%
1,320,858
|
$62,199,203,000 | 5.96% |
| Enterprise Prods Partners L |
1.09%
1,829,654
|
$53,023,373,000 | 5.08% |
| Sterling Check Corp |
14.19%
3,222,912
|
$47,699,098,000 | 4.57% |
| SS&C Technologies Holdings Inc |
49.25%
751,600
|
$47,102,772,000 | 4.51% |
| Sixth Street Specialty Lendn |
2.56%
2,036,778
|
$43,485,210,000 | 4.17% |
| Ishares Tr |
No change
78,769
|
$43,104,760,000 | 4.13% |
| MPLX LP |
2.03%
995,659
|
$42,405,117,000 | 4.06% |
| Ares Capital Corp |
4.66%
1,983,594
|
$41,338,094,000 | 3.96% |
| Energy Transfer LP |
0.71%
2,221,385
|
$36,030,865,000 | 3.45% |
| GFL Environmental Inc. |
516.28%
893,300
|
$34,776,169,000 | 3.33% |
| Daktronics Inc. |
140.04%
1,794,908
|
$25,038,967,000 | 2.40% |
| Teck Resources Ltd |
No change
487,807
|
$23,365,955,000 | 2.24% |
| Tidewater Inc. |
No change
242,300
|
$23,069,383,000 | 2.21% |
| Berkshire Hathaway Inc. |
No change
53,239
|
$21,657,625,000 | 2.08% |
| RCI Hospitality Holdings Inc |
23.54%
460,968
|
$20,079,766,000 | 1.92% |
| Agnico Eagle Mines Ltd |
Opened
277,535
|
$18,150,789,000 | 1.74% |
| Franco-Nevada Corporation |
No change
131,100
|
$15,537,972,000 | 1.49% |
| Legacy Housing Corporation |
Opened
800,155
|
$12,546,430,000 | 1.20% |
| Antero Resources Corp |
No change
382,400
|
$12,477,712,000 | 1.20% |
| EQT Corp |
0.39%
318,351
|
$11,772,620,000 | 1.13% |
| Tencent Music Entmt Group |
Opened
813,953
|
$11,436,040,000 | 1.10% |
| Alibaba Group Hldg Ltd |
No change
138,000
|
$9,936,000,000 | 0.95% |
| Ovintiv Inc |
Closed
90,095
|
$4,675,931,000 | |
| Warrior Met Coal Inc |
No change
54,235
|
$3,404,331,000 | 0.33% |
| Alamos Gold Inc. |
Opened
44,420
|
$1,018,995,000 | 0.10% |
| No transactions found | |||
| Showing first 500 out of 30 holdings | |||
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