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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
-7.58%
1 Year Est. Return
+302.5%
3 Year Est. Return
+348.92%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$639M
AUM Growth
+$294M
(+85%)
Cap. Flow
-$179M
Cap. Flow
% of AUM
-28.07%
Top 10 Holdings %
Top 10 Hldgs %
96.27%
Holding
22
New
10
Increased
–
Reduced
3
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Credit Acceptance
CACC
|
+$5.98M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AerCap
AER
|
+$44.6M |
| 2 |
Boyd Gaming
BYD
|
+$33.6M |
| 3 |
TSG
The Stars Group Inc.
TSG
|
+$23.9M |
| 4 |
CLNY
Colony Capital, Inc.
CLNY
|
+$8.08M |
| 5 |
KMI.WS
Kinder Morgan Inc
KMI.WS
|
+$5.57M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 95.62% |
| 2 | Energy | 2.11% |
| 3 | Communication Services | 1.43% |
| 4 | Financials | 0.84% |
| 5 | Consumer Discretionary | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$810B
| $307M | 47.95% |
+1,600,000
| New | +$325M |
|
2
PUT
Amazon
AMZN
$2.77T
| $102M | 16.01% |
+4,000,000
| New | +$101M |
|
3
PUT
Tesla
TSLA
$1.45T
| $74.5M | 11.65% |
+4,500,000
| New | +$76.5M |
|
|
OKS
4
PUT
DELISTED
Oneok Partners LP
OKS
| $14.6M | 2.29% |
+500,000
| New | +$16.2M |
|
|
5
PUT
Credit Acceptance
CACC
$6.16B
| $13.8M | 2.16% |
+70,000
| New | +$15.3M |
|
|
BWP
6
DELISTED
Boardwalk Pipeline Partners
BWP
| $13.5M | 2.11% |
1,148,031
-24,647
| -2% | -$336K |
|
7
PUT
Ally Financial
ALLY
$12.9B
| $10.2M | 1.59% |
+500,000
| New | +$10.9M |
|
8
PUT
Navient
NAVI
$888M
| $10.1M | 1.58% |
+900,000
| New | +$13.2M |
|
9
CALL
Blackstone
BX
$101B
| $9.5M | 1.49% |
305,700
-1,732,300
| -85% | -$62.7M |
|
|
TSG
10
DELISTED
The Stars Group Inc.
TSG
| $9.14M | 1.43% |
500,000
-1,050,000
| -68% | -$23.9M |
|
|
HAPN
11
PUT
Happen Inc
HAPN
$2.02B
| $6.62M | 1.03% |
+100,000
| New | +$6.79M |
|
|
12
Credit Acceptance
CACC
$6.16B
| $5.38M | 0.84% |
+27,300
| New | +$5.98M |
|
|
TWTR
13
CALL
DELISTED
Twitter, Inc.
TWTR
| $2.69M | 0.42% |
+100,000
| New | +$3M |
|
|
14
CALL
AerCap
AER
$22.6B
| – | – |
-200,000
| Closed | -$9.16M |
|
|
15
AerCap
AER
$22.6B
| – | – |
-973,727
| Closed | -$44.6M |
|
|
16
Boyd Gaming
BYD
$5.56B
| – | – |
-2,250,000
| Closed | -$33.6M |
|
17
Globalstar
GSAT
$10.7B
| – | – |
-160,000
| Closed | -$5.06M |
|
|
NEPT
18
DELISTED
Neptune Wellness Solutions Inc. Ordinary Shares
NEPT
| – | – |
-179
| Closed | -$323K |
|
|
CLNY
19
DELISTED
Colony Capital, Inc.
CLNY
| – | – |
-356,700
| Closed | -$8.08M |
|
|
DISH
20
CALL
DELISTED
DISH Network Corp.
DISH
| – | – |
-500,000
| Closed | -$33.9M |
|
|
KMI.WS
21
DELISTED
Kinder Morgan Inc
KMI.WS
| – | – |
-2,064,400
| Closed | -$5.57M |
|
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Panning Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Panning Capital Management held 22 positions worth $639M, up 85% from $345M the previous quarter. Its ten largest holdings account for 96% of the portfolio.
Panning Capital Management withdrew a net $179M in Q3 2015, closing 8 positions and reducing 3 holdings. Its most notable exit was AerCap, an estimated $44.6M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 96% of assets, up from 56% a quarter earlier, followed by Energy and Communication Services.
Against the trend, Panning Capital Management opened a new position in Credit Acceptance worth $5.38M.
- Panning Capital Management's largest Q3 2015 buy was Credit Acceptance: 27,300 shares worth $5.38M.
- Panning Capital Management's biggest Q3 2015 reduction was The Stars Group Inc., cutting an estimated $23.9M.
- Panning Capital Management fully exited AerCap in Q3 2015, selling an estimated $44.6M.
- Panning Capital Management's ten largest holdings make up 96% of its $639M portfolio in Q3 2015.
- Panning Capital Management opened 10 new positions and closed 8 in Q3 2015.
- Panning Capital Management's portfolio value rose 85% quarter-over-quarter to $639M.
Based on Panning Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.