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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
+22.33%
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
$1.13B
AUM Growth
+$387M
Cap. Flow
+$308M
Cap. Flow %
27.28%
Top 10 Hldgs %
56.66%
Holding
65
New
27
Increased
10
Reduced
7
Closed
16

Top Buys

Rank Stock Value
1
ITC
ITC HOLDINGS CORP
ITC
+$36.9M
2
FHB icon
First Hawaiian
FHB
+$32.8M
3
CPHD
Cepheid Inc
CPHD
+$28.3M
4
YHOO
Yahoo Inc
YHOO
+$28M
5
FLTX
Fleetmatics Group PLC
FLTX
+$21.9M

Top Sells

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$50M
2
FEIC
FEI COMPANY
FEIC
+$27.7M
3
MDVN
MEDIVATION, INC.
MDVN
+$23.6M
4
PR
Permian Resources
PR
+$20M
5
GGP
GGP Inc.
GGP
+$19.7M

Sector Composition

Rank Sector Weight
1 Energy 8.62%
2 Healthcare 8.18%
3 Industrials 7.13%
4 Consumer Staples 6.5%
5 Materials 5.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$190M 16.79%
877,000
+760,000
+650% +$164M
YHOO
2
DELISTED
Yahoo Inc
YHOO
$97M 8.58%
2,250,425
+682,800
+44% +$28M
ITC
3
DELISTED
ITC HOLDINGS CORP
ITC
$84.3M 7.46%
1,813,846
+798,396
+79% +$36.9M
EQC
4
DELISTED
Equity Commonwealth
EQC
$58.6M 5.19%
1,939,700
– –
CPHD
5
DELISTED
Cepheid Inc
CPHD
$37.5M 3.32%
+711,000
New +$28.3M
TBRA
6
DELISTED
Tobira Therapeutics, Inc. Common Stock
TBRA
$36.6M 3.24%
+922,000
New +$10.3M
TMX
7
CALL
DELISTED
Terminix Global Holdings, Inc.
TMX
$36.5M 3.23%
+1,619,905
New +$40.8M
AWI icon
8
Armstrong World Industries
AWI
$6.5B
$35.4M 3.13%
857,118
+194,118
+29% +$8.13M
FHB icon
9
First Hawaiian
FHB
$3.51B
$33.7M 2.99%
+1,255,900
New +$32.8M
USFD icon
10
US Foods
USFD
$20.9B
$30.8M 2.72%
1,302,960
+600,960
+86% +$14.6M
NGVT icon
11
Ingevity
NGVT
$2.6B
$30M 2.65%
650,255
-325,745
-33% -$13.8M
BAX icon
12
CALL
Baxter International
BAX
$11.4B
$29.7M 2.62%
623,000
– –
MON
13
CALL
DELISTED
Monsanto Co
MON
$25.6M 2.26%
+250,000
New +$26.2M
PF
14
DELISTED
Pinnacle Foods, Inc.
PF
$24.2M 2.14%
481,450
+166,450
+53% +$8.24M
FLTX
15
DELISTED
Fleetmatics Group PLC
FLTX
$24M 2.12%
+400,000
New +$21.9M
CPAAU
16
DELISTED
Conyers Park Acquisition Corp. Unit
CPAAU
$21.5M 1.9%
+2,000,000
New +$21M
EAGLU
17
DELISTED
Double Eagle Acquisition Corp.
EAGLU
$21.1M 1.87%
2,065,000
+65,000
+3% +$654K
TMX
18
DELISTED
Terminix Global Holdings, Inc.
TMX
$20.5M 1.81%
909,029
-234,609
-21% -$5.9M
SCACU
19
DELISTED
Saban Capital Acquisition Corp. Units
SCACU
$20.2M 1.78%
+2,000,000
New +$20.1M
PACEU
20
DELISTED
Pace Holdings Corp.
PACEU
$20M 1.77%
1,910,000
– –
SYT
21
DELISTED
Syngenta Ag
SYT
$17.6M 1.56%
201,200
-144,800
-42% -$11.9M
XLNX
22
CALL
DELISTED
Xilinx Inc
XLNX
$17.5M 1.55%
322,500
-107,500
-25% -$5.52M
XLP icon
23
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.3B
$15.4M 1.37%
+290,000
New +$15.8M
CFCOU
24
DELISTED
CF Corporation
CFCOU
$14.5M 1.29%
1,425,000
+425,000
+43% +$4.28M
DELL icon
25
Dell
DELL
$247B
$14.4M 1.27%
+1,070,888
New +$14.6M
1
2 3

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BFIM
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CWG
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1WM
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APF
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FDCP
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Governors Lane's Q3 2016 Portfolio in Review

As of Q3 2016, Governors Lane held 65 positions worth $1.13B, up 52% from $743M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Governors Lane deployed $308M of net new capital in Q3 2016, opening 27 new positions and adding to 10 existing holdings. Its largest new stake was First Hawaiian: 1,255,900 shares worth $33.7M.

By sector, the portfolio is most concentrated in Energy at 8.6% of assets, down from 11% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was Ingevity, an estimated $13.8M trimmed.

  • Governors Lane's largest Q3 2016 buy was First Hawaiian: 1,255,900 shares worth $33.7M.
  • Governors Lane added most to ITC HOLDINGS CORP in Q3 2016, an estimated $36.9M increase.
  • Governors Lane's biggest Q3 2016 reduction was Ingevity, cutting an estimated $13.8M.
  • Governors Lane fully exited EMC CORPORATION in Q3 2016, selling an estimated $50M.
  • Governors Lane's ten largest holdings make up 57% of its $1.13B portfolio in Q3 2016.
  • Governors Lane opened 27 new positions and closed 16 in Q3 2016.
  • Governors Lane's portfolio value rose 52% quarter-over-quarter to $1.13B.

Based on Governors Lane's 13F filing for Q3 2016, filed 14 Nov 2016.