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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
+0.35%
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
$627M
AUM Growth
-$99.9M
Cap. Flow
-$94.2M
Cap. Flow %
-15.02%
Top 10 Hldgs %
45.22%
Holding
77
New
22
Increased
9
Reduced
12
Closed
30

Top Buys

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$34.7M
2
BALL icon
Ball Corp
BALL
+$24.1M
3
SGEN
Seagen Inc. Common Stock
SGEN
+$22.9M
4
HCA icon
HCA Healthcare
HCA
+$16M
5
D icon
Dominion Energy
D
+$15.8M

Top Sells

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$19M
2
LRCX icon
Lam Research
LRCX
+$15.1M
3
WDAY icon
Workday
WDAY
+$13.5M
4
HLT icon
Hilton Worldwide
HLT
+$12.8M
5
PTC icon
PTC
PTC
+$12.4M

Sector Composition

Rank Sector Weight
1 Healthcare 23.68%
2 Technology 20.32%
3 Consumer Discretionary 9.06%
4 Financials 6.6%
5 Real Estate 5.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HZNP
1
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$39.6M 6.32%
342,500
+99,981
+41% +$10.7M
ATVI
2
DELISTED
Activision Blizzard
ATVI
$35.6M 5.68%
+380,300
New +$34.7M
SHEL icon
3
CALL
Shell
SHEL
$245B
$32.8M 5.23%
+510,000
New +$31.7M
VTR icon
4
Ventas
VTR
$48.9B
$28.6M 4.57%
679,871
+34,100
+5% +$1.54M
KKR icon
5
KKR & Co
KKR
$89.2B
$27.2M 4.34%
441,900
-55,100
-11% -$3.35M
PM icon
6
Philip Morris
PM
$301B
$25.1M 3.99%
270,600
+139,700
+107% +$13.4M
HUM icon
7
CALL
Humana
HUM
$46.7B
$24.6M 3.92%
50,500
+25,000
+98% +$11.7M
SGEN
8
DELISTED
Seagen Inc. Common Stock
SGEN
$24.3M 3.88%
+114,650
New +$22.9M
DHR icon
9
Danaher
DHR
$135B
$22.9M 3.65%
104,114
+56,738
+120% +$12.7M
WDAY icon
10
Workday
WDAY
$33.4B
$22.9M 3.65%
106,461
-58,100
-35% -$13.5M
BALL icon
11
Ball Corp
BALL
$17B
$22M 3.5%
+441,300
New +$24.1M
UNH icon
12
UnitedHealth
UNH
$382B
$20.1M 3.21%
39,951
-38,600
-49% -$19M
ECL icon
13
Ecolab
ECL
$75.6B
$19.9M 3.17%
117,229
+6,929
+6% +$1.26M
TSM icon
14
TSMC
TSM
$2.09T
$19.6M 3.13%
225,865
+82,901
+58% +$7.84M
CRM icon
15
Salesforce
CRM
$134B
$17.3M 2.76%
85,503
-7,600
-8% -$1.64M
UNP icon
16
CALL
Union Pacific
UNP
$183B
$15.3M 2.43%
+75,000
New +$16.3M
CPRI icon
17
Capri Holdings
CPRI
$1.77B
$14.8M 2.35%
+280,700
New +$12.7M
MSFT icon
18
Microsoft
MSFT
$2.84T
$14.6M 2.33%
+46,300
New +$15.3M
AMZN icon
19
Amazon
AMZN
$2.5T
$14.6M 2.32%
114,600
-79,300
-41% -$10.6M
HCA icon
20
HCA Healthcare
HCA
$84.8B
$14.4M 2.3%
+58,600
New +$16M
D icon
21
Dominion Energy
D
$62.5B
$14.3M 2.27%
+319,100
New +$15.8M
HUM icon
22
Humana
HUM
$46.7B
$12.4M 1.97%
+25,400
New +$11.9M
AMD icon
23
Advanced Micro Devices
AMD
$851B
$10.3M 1.64%
+100,000
New +$10.9M
HXL icon
24
Hexcel
HXL
$8.32B
$10.2M 1.62%
+156,226
New +$11.1M
BAX icon
25
CALL
Baxter International
BAX
$11.6B
$10.1M 1.61%
267,500
-309,500
-54% -$13.2M
1
2 3

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CWG
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1WM
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Governors Lane's Q3 2023 Portfolio in Review

As of Q3 2023, Governors Lane held 77 positions worth $627M, down 14% from $727M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Governors Lane withdrew a net $94.2M in Q3 2023, closing 30 positions and reducing 12 holdings. Its most notable exit was Lam Research, an estimated $15.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 24% of assets, up from 12% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Governors Lane opened a new position in Activision Blizzard worth $35.6M.

  • Governors Lane's largest Q3 2023 buy was Activision Blizzard: 380,300 shares worth $35.6M.
  • Governors Lane added most to Philip Morris in Q3 2023, an estimated $13.4M increase.
  • Governors Lane's biggest Q3 2023 reduction was UnitedHealth, cutting an estimated $19M.
  • Governors Lane fully exited Lam Research in Q3 2023, selling an estimated $15.1M.
  • Governors Lane's ten largest holdings make up 45% of its $627M portfolio in Q3 2023.
  • Governors Lane opened 22 new positions and closed 30 in Q3 2023.
  • Governors Lane's portfolio value fell 14% quarter-over-quarter to $627M.

Based on Governors Lane's 13F filing for Q3 2023, filed 14 Nov 2023.