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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
(-17%)
Cap. Flow
-$167M
Cap. Flow
% of AUM
-26.86%
Top 10 Holdings %
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 |
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 |
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 | |
|---|---|---|---|---|---|---|
|
AGN
1
DELISTED
Allergan plc
AGN
| $157M | 25.39% |
823,348
+317,835
| +63% | +$57.3M |
|
|
TIF
2
DELISTED
Tiffany & Co.
TIF
| $53.4M | 8.61% |
+399,400
| New | +$47.2M |
|
3
PUT
iShares Russell 2000 ETF
IWM
$80.9B
| $41.2M | 6.64% |
248,500
+18,100
| +8% | +$2.86M |
|
4
Advantage Solutions
ADV
$484M
| $25.4M | 4.1% |
97,560
| – | – |
|
|
LOTZ
5
DELISTED
CarLotz, Inc. Class A Common Stock
LOTZ
| $22M | 3.55% |
2,201,000
| – | – |
|
6
Utz Brands
UTZ
$1.25B
| $20.6M | 3.32% |
2,000,000
| – | – |
|
|
LAZR
7
DELISTED
Luminar Technologies
LAZR
| $20.3M | 3.28% |
133,333
| – | – |
|
|
ZAYO
8
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $18M | 2.91% |
520,718
+237,800
| +84% | +$8.14M |
|
9
DraftKings
DKNG
$11.4B
| $16.2M | 2.62% |
1,515,000
-1,485,000
| -50% | -$15M |
|
10
PG&E
PCG
$47.8B
| $16.1M | 2.6% |
1,480,500
+138,900
| +10% | +$1.19M |
|
|
PLYA
11
DELISTED
Playa Hotels & Resorts
PLYA
| $14.9M | 2.41% |
1,774,883
-546,437
| -24% | -$4.25M |
|
|
SRTA
12
Strata Critical Medical Inc
SRTA
$436M
| $14.7M | 2.37% |
+1,500,000
| New | +$14.7M |
|
13
ARKO Corp
ARKO
$890M
| $14.1M | 2.27% |
1,400,000
| – | – |
|
14
Constellium
CSTM
$3.96B
| $14M | 2.25% |
1,042,546
| – | – |
|
|
LPRO
15
Open Lending Corp
LPRO
$373M
| $12.6M | 2.04% |
1,200,000
| – | – |
|
|
THOR
16
DELISTED
Synthorx, Inc. Common Stock
THOR
| $12.2M | 1.97% |
+174,600
| New | +$4.99M |
|
17
Hims & Hers Health
HIMS
$6.5B
| $11.9M | 1.91% |
1,200,000
| – | – |
|
|
DMS
18
DELISTED
Digital Media Solutions, Inc.
DMS
| $11.5M | 1.85% |
73,950
| – | – |
|
19
Immatics
IMTX
$1.24B
| $10.5M | 1.69% |
1,000,000
| – | – |
|
|
HCCOU
20
DELISTED
Healthcare Merger Corp. Units
HCCOU
| $10.3M | 1.67% |
+1,000,000
| New | +$10.5M |
|
21
Skillsoft
SKIL
$56.9M
| $10.3M | 1.67% |
50,000
| – | – |
|
|
CHPMU
22
DELISTED
CHP Merger Corp. Unit
CHPMU
| $10.2M | 1.64% |
+1,000,000
| New | +$10.1M |
|
23
AvePoint
AVPT
$2.6B
| $9.91M | 1.6% |
+1,000,000
| New | +$9.97M |
|
|
CWEN.A
24
DELISTED
Clearway Energy Class A
CWEN.A
| $9.35M | 1.51% |
489,063
+340,644
| +230% | +$6.27M |
|
|
SRG
25
Seritage Growth Properties
SRG
$130M
| $8.96M | 1.45% |
223,579
-162,238
| -42% | -$6.87M |
|
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APF
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FDCP
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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.