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PCM

Panning Capital Management Portfolio holdings

AUM $97.5M
1-Year Est. Return 302.5%
This Fund
S&P 500
This Quarter Est. Return
-11.04%
1 Year Est. Return
+302.5%
3 Year Est. Return
+348.92%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$568M
AUM Growth
+$147M
Cap. Flow
-$122M
Cap. Flow %
-21.51%
Top 10 Hldgs %
100%
Holding
18
New
6
Increased
2
Reduced
1
Closed
8

Top Buys

Rank Stock Value
1
NEE.PRP
NEXTERA ENERGY INC EQUITY UNIT
NEE.PRP
+$17.8M
2
GSAT icon
Globalstar
GSAT
+$16.2M
3
EPB
EL PASO PIPELINE PARTNERS, L.P. COM UNITS REPSTG LTD PART
EPB
+$2.07M
4
EGLE
Eagle Bulk Shipping Inc.
EGLE
+$139K

Top Sells

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$41M
2
MTG icon
MGIC Investment
MTG
+$31.6M
3
AR icon
Antero Resources
AR
+$28.5M
4
KMI.WS
Kinder Morgan Inc
KMI.WS
+$15.2M
5
GM icon
General Motors
GM
+$14.5M

Sector Composition

Rank Sector Weight
1 Miscellaneous 79.9%
2 Energy 8.02%
3 Communication Services 6.76%
4 Industrials 5.32%
5 Consumer Discretionary 0%
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
$810B
$286M 50.27%
+1,450,000
New +$287M
NEE.PRP
2
DELISTED
NEXTERA ENERGY INC EQUITY UNIT
NEE.PRP
$61.4M 10.81%
1,125,000
+325,000
+41% +$17.8M
EEM icon
3
CALL
iShares MSCI Emerging Markets ETF
EEM
$32B
$45.7M 8.04%
+1,100,000
New +$48.6M
NVGS icon
4
Navigator Holdings
NVGS
$1.38B
$43.4M 7.63%
1,558,914
-450,350
-22% -$13.1M
GSAT icon
5
Globalstar
GSAT
$10.7B
$38.4M 6.76%
700,000
+270,840
+63% +$16.2M
XLE icon
6
PUT
State Street Energy Select Sector SPDR ETF
XLE
$42.6B
$36.2M 6.38%
+800,000
New +$38.7M
BALT
7
DELISTED
BALTIC TRADING LIMITED COMMON STOCK
BALT
$30.1M 5.3%
7,281,018
– –
KMI.WS
8
CALL
DELISTED
Kinder Morgan Inc
KMI.WS
$25.1M 4.41%
+6,885,197
New +$23.2M
EPB
9
DELISTED
EL PASO PIPELINE PARTNERS, L.P. COM UNITS REPSTG LTD PART
EPB
$2.17M 0.38%
+54,131
New +$2.07M
EGLE
10
DELISTED
Eagle Bulk Shipping Inc.
EGLE
$89K 0.02%
+38
New +$139K
AR icon
11
Antero Resources
AR
$12B
– –
-435,000
Closed -$28.5M
GM icon
12
General Motors
GM
$75.3B
– –
-400,000
Closed -$14.5M
MTG icon
13
MGIC Investment
MTG
$6.29B
– –
-3,417,189
Closed -$31.6M
NEE icon
14
CALL
NextEra Energy
NEE
$175B
– –
-4,020,000
Closed -$103M
NEE icon
15
NextEra Energy
NEE
$175B
– –
-1,600,000
Closed -$41M
BWP
16
DELISTED
Boardwalk Pipeline Partners
BWP
– –
-300,000
Closed -$5.55M
DYN.WS
17
DELISTED
Dynegy Inc,
DYN.WS
– –
-2,000,000
Closed -$8.96M
KMI.WS
18
DELISTED
Kinder Morgan Inc
KMI.WS
– –
-4,522,697
Closed -$15.2M

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DCMM
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LOT
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BGA
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BCCM
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EIAM
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EC
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SAMNY
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Panning Capital Management's Q3 2014 Portfolio in Review

As of Q3 2014, Panning Capital Management held 18 positions worth $568M, up 35% from $421M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Panning Capital Management withdrew a net $122M in Q3 2014, closing 8 positions and reducing 1 holding. Its most notable exit was NextEra Energy, an estimated $41M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 80% of assets, up from 40% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Panning Capital Management opened a new position in EL PASO PIPELINE PARTNERS, L.P. COM UNITS REPSTG LTD PART worth $2.17M.

  • Panning Capital Management's largest Q3 2014 buy was EL PASO PIPELINE PARTNERS, L.P. COM UNITS REPSTG LTD PART: 54,131 shares worth $2.17M.
  • Panning Capital Management added most to NEXTERA ENERGY INC EQUITY UNIT in Q3 2014, an estimated $17.8M increase.
  • Panning Capital Management's biggest Q3 2014 reduction was Navigator Holdings, cutting an estimated $13.1M.
  • Panning Capital Management fully exited NextEra Energy in Q3 2014, selling an estimated $41M.
  • Panning Capital Management's ten largest holdings make up 100% of its $568M portfolio in Q3 2014.
  • Panning Capital Management opened 6 new positions and closed 8 in Q3 2014.
  • Panning Capital Management's portfolio value rose 35% quarter-over-quarter to $568M.

Based on Panning Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.