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Governors Lane Portfolio holdings

AUM $1.56B
1-Year Est. Return 30.42%
This Fund
S&P 500
This Quarter Est. Return
+19.31%
1 Year Est. Return
+30.42%
3 Year Est. Return
+140.68%
5 Year Est. Return
+205.89%
10 Year Est. Return
+1,160.61%
AUM
$620M
AUM Growth
-$131M
Cap. Flow
-$167M
Cap. Flow %
-26.86%
Top 10 Hldgs %
63.01%
Holding
70
New
15
Increased
5
Reduced
4
Closed
21

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$57.3M
2
TIF
Tiffany & Co.
TIF
+$47.2M
3
SRTA
Strata Critical Medical Inc
SRTA
+$14.7M
4
HCCOU
Healthcare Merger Corp. Units
HCCOU
+$10.5M
5
CHPMU
CHP Merger Corp. Unit
CHPMU
+$10.1M

Top Sells

Rank Stock Value
1
CELG
Celgene Corp
CELG
+$125M
2
VRT icon
Vertiv
VRT
+$36.5M
3
AABA
Altaba Inc
AABA
+$25.9M
4
STNL
Sentinel Energy Services Inc. Class A Common Stock
STNL
+$22.8M
5
ACEL icon
Accel Entertainment
ACEL
+$21.4M

Sector Composition

Rank Sector Weight
1 Healthcare 34.65%
2 Consumer Discretionary 14.12%
3 Communication Services 5.07%
4 Consumer Staples 4.99%
5 Utilities 4.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DRH icon
51
Diamondrock Hospitality Co
DRH
$2.65B
– –
-422,382
Closed -$4.33M
HHH icon
52
Howard Hughes
HHH
$3.95B
– –
-74,375
Closed -$9.19M
IMVT icon
53
Immunovant
IMVT
$7.95B
– –
-828,004
Closed -$8.21M
REZI icon
54
Resideo Technologies
REZI
$5.49B
– –
-798,718
Closed -$11.5M
SPCE icon
55
Virgin Galactic
SPCE
$316M
– –
-35,426
Closed -$7.58M
TMUS icon
56
T-Mobile US
TMUS
$198B
– –
-118,165
Closed -$9.31M
VRT icon
57
Vertiv
VRT
$102B
– –
-3,574,449
Closed -$36.5M
APXTU
58
DELISTED
Apex Technology Acquisition Corporation Unit
APXTU
– –
-1,000,000
Closed -$10.2M
EXPCU
59
DELISTED
Experience Investment Corp. Unit
EXPCU
– –
-1,500,000
Closed -$15M
HSACW
60
DELISTED
Health Sciences Acquisitions Corporation Warrants
HSACW
– –
-828,004
Closed -$696K
RWGE.WS
61
DELISTED
Regalwood Global Energy Ltd. Warrants, each whole warrant exercisable for one Class A ordinary share
RWGE.WS
– –
-452,519
Closed -$260K
RWGE
62
DELISTED
Regalwood Global Energy Ltd. Class A Ordinary Shares
RWGE
– –
-1,470,000
Closed -$15.2M
TPGH.WS
63
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
– –
-346,349
Closed -$597K
STNL
64
DELISTED
Sentinel Energy Services Inc. Class A Common Stock
STNL
– –
-2,220,000
Closed -$22.8M
IPOA.WS
65
DELISTED
Social Capital Hedosophia Holdings Corp. Warrants, each whole warrant exercisable for one Class A Or
IPOA.WS
– –
-461,799
Closed -$1.15M
AABA
66
DELISTED
Altaba Inc
AABA
– –
-1,330,700
Closed -$25.9M
STNLW
67
DELISTED
Sentinel Energy Services Inc. Warrant
STNLW
– –
-439,219
Closed -$152K
WLH
68
DELISTED
WILLIAM LYON HOMES
WLH
– –
-420,892
Closed -$8.57M
CELG
69
DELISTED
Celgene Corp
CELG
– –
-1,260,064
Closed -$125M
1 2
3

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Governors Lane's Q4 2019 Portfolio in Review

As of Q4 2019, Governors Lane held 70 positions worth $620M, down 17% from $750M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Governors Lane withdrew a net $167M in Q4 2019, closing 21 positions and reducing 4 holdings. Its most notable exit was Celgene Corp, an estimated $125M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 35% of assets, up from 32% a quarter earlier, followed by Consumer Discretionary and Communication Services.

Against the trend, Governors Lane opened a new position in Tiffany & Co. worth $53.4M.

  • Governors Lane's largest Q4 2019 buy was Tiffany & Co.: 399,400 shares worth $53.4M.
  • Governors Lane added most to Allergan plc in Q4 2019, an estimated $57.3M increase.
  • Governors Lane's biggest Q4 2019 reduction was DraftKings, cutting an estimated $15M.
  • Governors Lane fully exited Celgene Corp in Q4 2019, selling an estimated $125M.
  • Governors Lane's ten largest holdings make up 63% of its $620M portfolio in Q4 2019.
  • Governors Lane opened 15 new positions and closed 21 in Q4 2019.
  • Governors Lane's portfolio value fell 17% quarter-over-quarter to $620M.

Based on Governors Lane's 13F filing for Q4 2019, filed 14 Feb 2020.