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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
+0.46%
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
$1.79B
AUM Growth
-$82.5M
Cap. Flow
-$73.6M
Cap. Flow %
-4.12%
Top 10 Hldgs %
44.12%
Holding
98
New
20
Increased
11
Reduced
11
Closed
19

Top Buys

Rank Stock Value
1
TMX
Terminix Global Holdings, Inc.
TMX
+$68.5M
2
AET
Aetna Inc
AET
+$49.2M
3
AABA
Altaba Inc
AABA
+$43.5M
4
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
+$41.5M
5
VRT icon
Vertiv
VRT
+$38M

Top Sells

Rank Stock Value
1
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$90.9M
2
CNDT icon
Conduent
CNDT
+$49.5M
3
GSAH.U
GS Acquisition Holdings Corp. Units, each consisting of one share of Class A common stock and one-th
GSAH.U
+$39.6M
4
PX
Praxair Inc
PX
+$37M
5
ILG
ILG, Inc Common Stock
ILG
+$35.2M

Sector Composition

Rank Sector Weight
1 Technology 20.59%
2 Financials 13.51%
3 Industrials 13.35%
4 Consumer Discretionary 12.15%
5 Real Estate 6.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AABA
1
DELISTED
Altaba Inc
AABA
$210M 11.76%
3,086,342
+617,200
+25% +$43.5M
AET
2
DELISTED
Aetna Inc
AET
$110M 6.13%
540,432
+251,800
+87% +$49.2M
CZR
3
DELISTED
Caesars Entertainment Corporation
CZR
$81.6M 4.57%
7,962,817
-408,524
-5% -$4.3M
TFCFA
4
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$74.4M 4.16%
1,605,695
-1,984,305
-55% -$90.9M
TMX
5
DELISTED
Terminix Global Holdings, Inc.
TMX
$71.1M 3.97%
+1,710,232
New +$68.5M
ASH icon
6
Ashland
ASH
$3.04B
$55M 3.08%
655,677
+55,300
+9% +$4.61M
PCG icon
7
PG&E
PCG
$47.8B
$52.2M 2.92%
1,134,939
+258,239
+29% +$11.5M
NXPI icon
8
CALL
NXP Semiconductors
NXPI
$68B
$47.9M 2.68%
+560,000
New +$53.7M
SPB icon
9
CALL
Spectrum Brands
SPB
$2.04B
$44.8M 2.51%
600,000
+100,000
+20% +$8.47M
TFCF
10
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
$41.9M 2.35%
+915,170
New +$41.5M
CPLG
11
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
$40.7M 2.27%
2,090,799
+251,000
+14% +$5.8M
HGV icon
12
Hilton Grand Vacations
HGV
$3.84B
$39.5M 2.21%
1,194,600
+1,087,400
+1,014% +$36.2M
VRT icon
13
Vertiv
VRT
$112B
$37.7M 2.11%
+3,870,100
New +$38M
DXC icon
14
DXC Technology
DXC
$1.63B
$36M 2.02%
385,414
-129,000
-25% -$11.4M
SRG
15
Seritage Growth Properties
SRG
$130M
$34.5M 1.93%
725,976
-261,917
-27% -$12.4M
PLYA
16
DELISTED
Playa Hotels & Resorts
PLYA
$33.9M 1.9%
3,521,488
+451,389
+15% +$4.62M
IWM icon
17
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$33.7M 1.89%
200,000
– –
EQC
18
DELISTED
Equity Commonwealth
EQC
$31.5M 1.76%
980,193
-698,522
-42% -$22.2M
SPCE icon
19
Virgin Galactic
SPCE
$320M
$29.7M 1.66%
150,000
– –
CNDT icon
20
Conduent
CNDT
$230M
$29.4M 1.65%
1,307,562
-2,414,300
-65% -$49.5M
STAY
21
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
$26.9M 1.5%
+1,328,100
New +$27.6M
SHPG
22
DELISTED
Shire pic
SHPG
$26.7M 1.5%
147,533
– –
VRRM icon
23
Verra Mobility
VRRM
$615M
$26.6M 1.49%
2,500,000
– –
ISBC
24
DELISTED
Investors Bancorp, Inc.
ISBC
$25.8M 1.44%
2,105,100
+450,800
+27% +$5.73M
FSAC
25
DELISTED
Federal Street Acquisition Corp. Common Stock
FSAC
$25.3M 1.41%
2,500,000
– –
1
2 3 4

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BFIM
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CWG
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1WM
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APF
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AC
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FDCP
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TNBTD
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Governors Lane's Q3 2018 Portfolio in Review

As of Q3 2018, Governors Lane held 98 positions worth $1.79B, down 4.4% from $1.87B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Governors Lane withdrew a net $73.6M in Q3 2018, closing 19 positions and reducing 11 holdings. Its most notable exit was GS Acquisition Holdings Corp. Units, each consisting of one share of Class A common stock and one-th, an estimated $39.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 22% a quarter earlier, followed by Financials and Industrials.

Against the trend, Governors Lane opened a new position in Terminix Global Holdings, Inc. worth $71.1M.

  • Governors Lane's largest Q3 2018 buy was Terminix Global Holdings, Inc.: 1,710,232 shares worth $71.1M.
  • Governors Lane added most to Aetna Inc in Q3 2018, an estimated $49.2M increase.
  • Governors Lane's biggest Q3 2018 reduction was Twenty-First Century Fox, Inc. Class A, cutting an estimated $90.9M.
  • Governors Lane fully exited GS Acquisition Holdings Corp. Units, each consisting of one share of Class A common stock and one-th in Q3 2018, selling an estimated $39.6M.
  • Governors Lane's ten largest holdings make up 44% of its $1.79B portfolio in Q3 2018.
  • Governors Lane opened 20 new positions and closed 19 in Q3 2018.
  • Governors Lane's portfolio value fell 4.4% quarter-over-quarter to $1.79B.

Based on Governors Lane's 13F filing for Q3 2018, filed 14 Nov 2018.