Form NPORT-P A&Q Long/Short Strategie For: Mar 31

May 25, 2022 11:29 AM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

  
    NPORT-P
    false
    
      
      
        
          0001186641
          XXXXXXXX
        
      
      
      
      
      
    
  
  
    
      A&Q Long/Short Strategies Fund LLC
      811-21195
      0001186641
      254900O8IEUGGCWEQZ07
      600 Washington Blvd
      Stamford
      
      06901
      2037191428
      A&Q Long/Short Strategies Fund LLC
      N/A
      2022-12-31
      2022-03-31
      N
    
    
      138988094.400000000000
      13071417.870000000000
      125916676.260000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      0.000000000000
      2226198.150000000000
      N
      
        
          
        
        
        
        
      
      
      
      
    
    
      
        Alta Park fund Onshore, LP
        N/A
        Alta Park fund Onshore, LP
        999999999
        
          
        
        5718768.97
        OU
        Cost of Investment
        USD
        4800429
        3.8123854144
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Averill Partners LP
        N/A
        Averill Partners LP
        999999999
        
          
        
        5000000
        OU
        Cost of Investment
        USD
        6383703.12
        5.0697836932
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Biomedical Value Fund, LP
        N/A
        Biomedical Value Fund, LP
        999999999
        
          
        
        6794244.86
        OU
        Cost of Investment
        USD
        8089593.71
        6.4245610274
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Crake Global US Feeder LP
        N/A
        Crake Global US Feeder LP
        999999999
        
          
        
        8455054.61
        OU
        Cost of Investment
        USD
        12342048
        9.8017580884
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Dantai US Feeder Fund
        N/A
        Dantai US Feeder Fund
        999999999
        
          
        
        5000000
        OU
        Cost of Investment
        USD
        3355692.36
        2.6650102748
        Long
        
        PF
        KY
        Y
        N/A
        
          N
          N
          N
        
      
      
        Jericho Capital Partners L.P.
        N/A
        Jericho Capital Partners L.P.
        999999999
        
          
        
        4598843.67
        OU
        Cost of Investment
        USD
        9502956.19
        7.5470195627
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        My Asian Opportunities Fund L.P
        N/A
        My Asian Opportunities Fund L.P
        999999999
        
          
        
        8118580.71
        OU
        Cost of Investment
        USD
        9756992.53
        7.7487691224
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Parsifal Fund, LP
        N/A
        Parsifal Fund, LP
        999999999
        
          
        
        11000000
        OU
        Cost of Investment
        USD
        9892525.81
        7.8564063981
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Pelham Long/Short Fund, L.P.
        N/A
        Pelham Long/Short Fund, L.P.
        999999999
        
          
        
        2339470.09
        OU
        Cost of Investment
        USD
        4009822.91
        3.1845050466
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Perceptive Life Sciences Qualified Fund, L.P.
        N/A
        Perceptive Life Sciences Qualified Fund, L.P.
        999999999
        
          
        
        3399497.07
        OU
        Cost of Investment
        USD
        2438413.31
        1.9365292846
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Pleiad Asia Onshore Feeder Fund
        N/A
        Pleiad Asia Onshore Feeder Fund
        999999999
        
          
        
        5542353.83
        OU
        Cost of Investment
        USD
        6605251.98
        5.2457324766
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Point72 Capital, L.P.
        N/A
        Point72 Capital, L.P.
        999999999
        
          
        
        10535370.72
        OU
        Cost of Investment
        USD
        12680699.95
        10.0707073333
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        PSquared US Feeder Fund, LP
        N/A
        PSquared US Feeder Fund, LP
        999999999
        
          
        
        5000000
        OU
        Cost of Investment
        USD
        5605423.25
        4.4516925133
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Schonfeld Strategic Partners Fund LLC
        N/A
        Schonfeld Strategic Partners Fund LLC
        999999999
        
          
        
        5000000
        OU
        Cost of Investment
        USD
        5138145.77
        4.0805919618
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Tairen Alpha Fund Limited
        N/A
        Tairen Alpha Fund Limited
        999999999
        
          
        
        2444844.01
        OU
        Cost of Investment
        USD
        2694802.93
        2.1401477628
        Long
        
        PF
        KY
        Y
        N/A
        
          N
          N
          N
        
      
      
        TPG Public Equity Partners-A, L.P.
        N/A
        TPG Public Equity Partners-A, L.P.
        999999999
        
          
        
        8909223.49
        OU
        Cost of Investment
        USD
        12438234
        9.8781466994
        Long
        
        PF
        US
        Y
        N/A
        
          N
          N
          N
        
      
      
        Visium Balanced Offshore Fund, Ltd
        N/A
        Visium Balanced Offshore Fund, Ltd
        999999999
        
          
        
        0
        OU
        Cost of Investment
        USD
        0
        0.0000000000
        Long
        
        PF
        KY
        Y
        N/A
        
          N
          N
          N
        
      
      
        WT China Fund Limited
        N/A
        WT China Fund Limited
        999999999
        
          
        
        4899725.55
        OU
        Cost of Investment
        USD
        9324105.4
        7.4049805609
        Long
        
        PF
        KY
        Y
        N/A
        
          N
          N
          N
        
      
    
    
      2022-05-25
      A&Q Long/Short Strategies Fund LLC
      Matthew Richards
      A&Q Long/Short Strategies Fund LLC
      Principal Accounting Officer
    
  
  XXXX



A&Q Long/Short Strategies Fund LLC

Schedule of Portfolio Investments

(Unaudited)

 

March 31, 2022

    

 

 

Investment Fund (a)

  Geographic
Focus
    Cost     Fair Value     % of
  Members’  
Capital
    Initial
Acquisition Date
    Redemption
Frequency (b)
    Redemption
Notice
Period (c)
    First Available
Redemption Date
    Dollar Amount of
Fair Value for
First Available
Redemption
 

Equity Hedged

                   

Alta Park Fund Onshore, LP

    US/Canada       $ 5,718,769         $ 4,800,429         3.81    %       7/1/2019       Quarterly       45 days       3/31/2022       (d)       $ 2,271,244  

Averill Partners L.P.

    US/Canada       5,000,000         6,383,703         5.07               5/1/2021       Quarterly       60 days       6/30/2023       (e),(f)       $ 1,595,926  

Biomedical Value Fund, L.P.

    US/Canada       6,794,245         8,089,594         6.42               3/1/2019       Quarterly       120 days       3/31/2022         $ 8,089,594  

Crake Global US Feeder L.P.

    Global Markets       8,455,055         12,342,048         9.80               10/1/2019       Monthly       45 days       3/31/2022         $ 12,342,048  

Dantai US Feeder Fund

    Greater China       5,000,000         3,355,692         2.67               10/1/2021       Monthly       30 days       3/31/2023       (f)       $ 670,105  

Jericho Capital Partners L.P.

    US/Canada       4,598,843         9,502,956         7.55               6/1/2011       Quarterly       60 days       3/31/2022         $ 9,502,956  

MY Asian Opportunities Fund, L.P.

   
Developed Asia
including Japan
 
 
    8,118,581         9,756,993         7.75               8/1/2019       Quarterly       60 days       3/31/2022         $ 9,756,993  

Parsifal Fund, L.P.

    Global       11,000,000         9,892,526         7.86               5/1/2021       Quarterly       60 days       6/30/2022       (e),(f)       $ 1,808,069  

Pelham Long/Short Fund, L.P.

   
Europe
including UK
 
 
    2,339,470         4,009,823         3.18               5/1/2010       Monthly       90 days       3/31/2022         $ 4,009,823  

Perceptive Life Sciences Qualified Fund, L.P.

    US/Canada       3,399,497         2,438,413         1.94               1/1/2013       Quarterly       45 days       3/31/2022         $ 2,438,413  

Pleiad Asia Onshore Feeder Fund

   
Developed Asia
including Japan
 
 
    5,542,354         6,605,252         5.25               8/1/2015       Quarterly       60 days       3/31/2022       (e)       $ 1,651,313  

Point72 Capital, L.P.

    Global       10,535,371         12,680,700         10.07               6/1/2018       Quarterly       45 days       3/31/2022       (e)       $ 3,170,175  

Tairen China Fund Ltd.

    Greater China       2,444,844         2,694,803         2.14               1/1/2018       Quarterly       60 days       3/31/2022         $ 2,694,803  

TPG Public Equity Partners-A, L.P.

    Global       8,909,223         12,438,234         9.88               9/1/2015       Quarterly       60 days       3/31/2022       (e)       $ 3,109,559  

Visium Balanced Offshore Fund, Ltd.

    US/Canada       -         -         0.00               6/1/2011       N/A       N/A       N/A       (g)       N/A  

WT China Fund Ltd.

    China       4,899,726         9,324,105         7.40               3/1/2019       Monthly       45 days       3/31/2022         $ 9,324,105  
   

 

 

   

 

 

   

 

 

             

Equity Hedged Subtotal

      92,755,978         114,315,271         90.79                      

Multi-Strategy

                   

Schonfeld Strategic Partners Fund LLC

    Global       5,000,000         5,138,146         4.08               2/1/2022       Monthly       45 days       1/31/2023       (f)       $ 5,138,146  
   

 

 

   

 

 

   

 

 

             

Multi-Strategy Subtotal

      5,000,000         5,138,146         4.08                      

Relative Value

                   

PSquared US Feeder Fund, LP

   
Europe
including UK
 
 
    5,000,000         5,605,423         4.45               4/1/2020       Monthly       90 days       3/31/2022         $ 5,605,423  
   

 

 

   

 

 

   

 

 

             

Relative Value Subtotal

      5,000,000         5,605,423         4.45                      
   

 

 

   

 

 

   

 

 

             

Total

      $  102,755,978         $  125,058,840         99.32    %              
   

 

 

   

 

 

   

 

 

             

 

(a)

Each Investment Fund noted within the Schedule of Portfolio Investments is non-income producing.

(b)

Available frequency of redemptions after the initial lock-up period, if any. Different tranches may have varying liquidity terms.

(c)

Unless otherwise noted, the redemption notice periods are shown in calendar days.

(d)

A portion of this holding ($2,529,185) is under lock-up and is not redeemable without paying a fee.

(e)

The Investment Fund is subject to an investor level gate of 25%.

(f)

This holding is under lock-up and is not redeemable without paying a fee.

(g)

All of the Fund’s interests in the Investment Fund are held in side pockets or are in liquidation and have restricted liquidity. In addition to any redemption proceeds that may have already been received, the Fund will continue to receive proceeds periodically as the Investment Fund liquidates its underlying investments.

Complete information about the Investment Funds’ underlying investments is not readily available.

The Fund’s valuation procedures require evaluation of all relevant factors available at the time the Fund values its portfolio. These relevant factors include the individual Investment Funds’ compliance with fair value measurements, price transparency and valuation procedures in place, and subscription and redemption activity.


A&Q Long/Short Strategies Fund LLC

Schedule of Portfolio Investments (continued)

(Unaudited)

 

March 31, 2022

        

 

 

Portfolio Valuation

Net asset value of the Fund is determined by the Fund’s administrator, under the oversight of the Adviser, as of the close of business at the end of any fiscal period in accordance with the valuation principles or as may be determined from time to time pursuant to policies established by the Board of Directors.

The investments within the scope of ASC 820, for which fair value is measured using NAV as a practical expedient, should not be categorized within the fair value hierarchy. The total fair value of the investments in Investment Funds valued using NAV as a practical expedient is $125,058,840. Additional disclosures, including liquidity terms and conditions of the underlying investments, are included in the Schedule of Portfolio Investments.

The Investment Funds in the equity hedged strategy (total fair value of $114,315,271) generally utilize fundamental analysis to invest in publicly traded equities through both long and short positions seeking to capture perceived security mispricing. Portfolio construction is driven primarily by bottom-up fundamental research; top-down analysis may also be applied. As of March 31, 2022, the Investment Funds in the equity hedged strategy had $53,885,292, representing 47% of the value of the investments in this category, subject to investor level gates and/or lock-ups. Included in this amount is $22,161,106, representing 19% of the value of the investments in this category, that cannot be redeemed in full because the investment includes restrictions that do not allow for redemptions in the first 12-24 months after acquisition. The remaining restriction period for these investment ranges from 1-15 months at March 31, 2022.

The Investment Fund in the multi-strategy strategy (total fair value of $5,138,146) invests in both long and short, equity and debt strategies that are primarily in U.S. based securities. The management of this Investment Fund seeks arbitrage opportunities, distressed securities, corporate restructures and hedges established in equities, convertible securities, options, warrants, rights, forward contracts, futures, trade claims, credit default swaps and other derivatives, real estate and other financial instruments. As of March 31, 2022, the Investment Fund in the multi-strategy strategy had $5,138,146, representing 100% of the value of the investment in this category, subject to lock-ups. The Investment Fund in this category cannot be redeemed in full because the investment includes restrictions that do not allow for redemptions in the first 12 months after acquisition. The remaining restriction period for this investment is 10 months at March 31, 2022.

The Investment Fund in the relative value strategy (total fair value of $5,605,423), a broad category, generally encompasses strategies that are non-fundamental and non-directional, and often quantitatively driven. The Investment Fund in this strategy typically uses arbitrage to exploit mispricing and other opportunities in various asset classes, geographies, and time horizons. The Investment Fund frequently focuses on capturing the spread between two assets, while maintaining neutrality to other factors, such as geography, changes in interest rates, equity market movement, and currencies, to name a few examples.

 


A&Q Long/Short Strategies Fund LLC

Schedule of Portfolio Investments (continued)

(Unaudited)

 

March 31, 2022

        

 

 

Investment Funds with no current redemption restrictions may be subject to future gates, lock-up provisions or other restrictions, in accordance with their offering documents. The Fund had no unfunded capital commitments as of March 31, 2022.

Please refer to the December 31, 2021 financial statements for full disclosure on the Fund’s portfolio valuation methodology.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

SEC Filings