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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
-10.4%
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
$1.07B
AUM Growth
-$719M
Cap. Flow
-$564M
Cap. Flow %
-52.76%
Top 10 Hldgs %
40.02%
Holding
96
New
17
Increased
12
Reduced
19
Closed
24

Top Buys

Rank Stock Value
1
RHT
Red Hat Inc
RHT
+$28M
2
LIN icon
Linde
LIN
+$25.4M
3
UTZ icon
Utz Brands
UTZ
+$19.3M
4
APTI
Apptio, Inc. Class A Common Stock
APTI
+$19M
5
MB
MINDBODY, Inc. Class A Common Stock
MB
+$17.2M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$110M
2
AABA
Altaba Inc
AABA
+$86.8M
3
TMX
Terminix Global Holdings, Inc.
TMX
+$71.1M
4
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$65.6M
5
PCG icon
PG&E
PCG
+$36.9M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 15.43%
2 Industrials 15.11%
3 Technology 12.45%
4 Financials 10.71%
5 Materials 8.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AABA
1
DELISTED
Altaba Inc
AABA
$97.3M 9.11%
1,679,631
-1,406,711
-46% -$86.8M
TFCF
2
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
$42.3M 3.96%
884,928
-30,242
-3% -$1.42M
HGV icon
3
Hilton Grand Vacations
HGV
$3.84B
$40.2M 3.76%
1,523,879
+329,279
+28% +$9.55M
SHPG
4
DELISTED
Shire pic
SHPG
$40.2M 3.76%
231,033
+83,500
+57% +$14.6M
VRT icon
5
Vertiv
VRT
$112B
$37.9M 3.55%
3,870,100
– –
SRG
6
Seritage Growth Properties
SRG
$130M
$36.5M 3.42%
1,130,500
+404,524
+56% +$15.7M
ASH icon
7
Ashland
ASH
$3.04B
$36.5M 3.42%
514,840
-140,837
-21% -$10.9M
CZR
8
DELISTED
Caesars Entertainment Corporation
CZR
$35.1M 3.28%
5,166,213
-2,796,604
-35% -$23.6M
RHT
9
DELISTED
Red Hat Inc
RHT
$31.1M 2.91%
+176,841
New +$28M
IWM icon
10
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$30.4M 2.85%
227,400
+27,400
+14% +$4.09M
SPCE icon
11
Virgin Galactic
SPCE
$320M
$30M 2.81%
150,000
– –
EQC
12
DELISTED
Equity Commonwealth
EQC
$27.6M 2.59%
920,800
-59,393
-6% -$1.81M
PLYA
13
DELISTED
Playa Hotels & Resorts
PLYA
$27M 2.52%
3,748,416
+226,928
+6% +$1.84M
FSAC
14
DELISTED
Federal Street Acquisition Corp. Common Stock
FSAC
$25.6M 2.39%
2,500,000
– –
LIN icon
15
Linde
LIN
$237B
$25.1M 2.35%
+160,943
New +$25.4M
STAY
16
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
$24.5M 2.3%
1,583,078
+254,978
+19% +$4.49M
NXTM
17
DELISTED
NxStage Medical Inc.
NXTM
$22.5M 2.11%
787,030
-26,970
-3% -$766K
ACEL icon
18
Accel Entertainment
ACEL
$979M
$22.5M 2.11%
2,250,000
– –
STNL
19
DELISTED
Sentinel Energy Services Inc. Class A Common Stock
STNL
$22.2M 2.08%
2,220,000
+750,000
+51% +$7.52M
APTI
20
DELISTED
Apptio, Inc. Class A Common Stock
APTI
$21.4M 2%
+562,686
New +$19M
MB
21
DELISTED
MINDBODY, Inc. Class A Common Stock
MB
$20.6M 1.92%
+565,000
New +$17.2M
SCAC
22
DELISTED
Saban Capital Acquisition Corp. Class A Ordinary Share
SCAC
$20.2M 1.89%
2,000,000
– –
TH icon
23
Target Hospitality
TH
$1.61B
$20.2M 1.89%
1,999,998
– –
VEAC
24
DELISTED
Vantage Energy Acquisition Corp. Class A
VEAC
$20.1M 1.88%
1,999,998
– –
UTZ icon
25
Utz Brands
UTZ
$1.25B
$19.4M 1.82%
+2,000,000
New +$19.3M
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 Q4 2018 Portfolio in Review

As of Q4 2018, Governors Lane held 96 positions worth $1.07B, down 40% from $1.79B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Governors Lane withdrew a net $564M in Q4 2018, closing 24 positions and reducing 19 holdings. Its most notable exit was Aetna Inc, an estimated $110M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 15% of assets, up from 12% a quarter earlier, followed by Industrials and Technology.

Against the trend, Governors Lane opened a new position in Red Hat Inc worth $31.1M.

  • Governors Lane's largest Q4 2018 buy was Red Hat Inc: 176,841 shares worth $31.1M.
  • Governors Lane added most to Seritage Growth Properties in Q4 2018, an estimated $15.7M increase.
  • Governors Lane's biggest Q4 2018 reduction was Altaba Inc, cutting an estimated $86.8M.
  • Governors Lane fully exited Aetna Inc in Q4 2018, selling an estimated $110M.
  • Governors Lane's ten largest holdings make up 40% of its $1.07B portfolio in Q4 2018.
  • Governors Lane opened 17 new positions and closed 24 in Q4 2018.
  • Governors Lane's portfolio value fell 40% quarter-over-quarter to $1.07B.

Based on Governors Lane's 13F filing for Q4 2018, filed 14 Feb 2019.