Peconic Partners Portfolio holdings
Peconic Partners runs long/short equity hedge funds that look for big trends lasting beyond a single economic cycle. Its strategy dates to the late 1970s, when founder William Harnisch began managing money at a predecessor firm. That firm's long-only business was sold in 1997 to a privately held financial services firm, while Harnisch and his partners kept the hedge fund business and, in December 2004, split off with their team to form Peconic Partners.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
|
+$32.4M |
| 2 |
Costco
COST
|
+$23.6M |
| 3 |
JUNO
Juno Therapeutics, Inc.
JUNO
|
+$19.4M |
| 4 |
Quanta Services
PWR
|
+$6.68M |
| 5 |
Alphabet (Google) Class A
GOOGL
|
+$5.69M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dycom Industries
DY
|
+$48.7M |
| 2 |
Goldman Sachs
GS
|
+$26.6M |
| 3 |
WPX
WPX Energy, Inc.
WPX
|
+$15.5M |
| 4 |
SBA Communications
SBAC
|
+$10.7M |
| 5 |
Merck
MRK
|
+$6.41M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 68.2% |
| 2 | Miscellaneous | 8.79% |
| 3 | Energy | 6.11% |
| 4 | Healthcare | 5.21% |
| 5 | Consumer Staples | 3.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
MasTec
MTZ
$14.4B
| $221M | 35.65% |
4,764,462
| – | – |
2013 Q2
17 quarters
|
|
|
2
Quanta Services
PWR
$89.3B
| $178M | 28.65% |
4,754,856
+190,371
| +4% | +$6.68M |
2016 Q4
3 quarters
|
|
|
3
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.13B
| $35.3M | 5.69% |
+258,750
| New | +$32.4M |
2017 Q3
0 quarters
|
|
4
DELISTED
Newfield Exploration
NFX
| $30.6M | 4.93% |
1,031,246
-180,766
| -15% | -$4.85M |
2016 Q2
5 quarters
|
|
|
JUNO
5
DELISTED
Juno Therapeutics, Inc.
JUNO
| $25.6M | 4.12% |
+570,000
| New | +$19.4M |
2017 Q3
0 quarters
|
|
|
6
Costco
COST
$490B
| $24.6M | 3.97% |
+150,000
| New | +$23.6M |
2017 Q3
0 quarters
|
|
7
WESCO International
WCC
$15.5B
| $18.7M | 3.01% |
320,824
+43,639
| +16% | +$2.35M |
2016 Q1
6 quarters
|
|
8
Alerian MLP ETF
AMLP
$12.1B
| $14M | 2.26% |
249,280
+92,069
| +59% | +$5.26M |
2016 Q2
5 quarters
|
|
|
9
SBA Communications
SBAC
$19.6B
| $12.5M | 2.02% |
87,059
-75,026
| -46% | -$10.7M |
2013 Q2
17 quarters
|
|
|
10
Alphabet (Google) Class A
GOOGL
$3.62T
| $10.7M | 1.73% |
220,000
+120,000
| +120% | +$5.69M |
2017 Q1
2 quarters
|
|
11
Crown Castle
CCI
$38.2B
| $5.75M | 0.93% |
57,500
+20,000
| +53% | +$2.05M |
2013 Q2
17 quarters
|
|
12
Teck Resources
TECK
$29.6B
| $3.8M | 0.61% |
+180,000
| New | +$3.92M |
2017 Q3
0 quarters
|
|
13
American Tower
AMT
$88.5B
| $3.62M | 0.58% |
26,500
| – | – |
2016 Q1
6 quarters
|
|
14
Editas Medicine
EDIT
$321M
| $3.56M | 0.57% |
+148,258
| New | +$2.82M |
2017 Q3
0 quarters
|
|
|
AUY
15
DELISTED
Yamana Gold, Inc.
AUY
| $2.92M | 0.47% |
+1,100,000
| New | +$2.93M |
2017 Q3
0 quarters
|
|
|
16
Dycom Industries
DY
$6.49B
| $2.66M | 0.43% |
31,000
-578,389
| -95% | -$48.7M |
2013 Q2
17 quarters
|
|
17
Vanguard Financials ETF
VFH
$13.7B
| $2.61M | 0.42% |
+40,000
| New | +$2.52M |
2017 Q3
0 quarters
|
|
18
DELISTED
Flexion Therapeutics, Inc.
FLXN
| $2.42M | 0.39% |
+100,000
| New | +$2.35M |
2017 Q3
0 quarters
|
|
19
United Rentals
URI
$70B
| $2.08M | 0.34% |
+15,000
| New | +$1.79M |
2017 Q3
0 quarters
|
|
20
Flotek Industries
FTK
$913M
| $2.06M | 0.33% |
73,806
+7,600
| +11% | +$301K |
2013 Q2
17 quarters
|
|
21
Apple
AAPL
$5.21T
| $2.01M | 0.32% |
52,200
+20,000
| +62% | +$776K |
2013 Q2
17 quarters
|
|
|
CXO
22
DELISTED
CONCHO RESOURCES INC.
CXO
| $1.98M | 0.32% |
15,000
| – | – |
2013 Q2
17 quarters
|
|
23
Diamondback Energy
FANG
$51.6B
| $1.96M | 0.32% |
20,000
+5,000
| +33% | +$460K |
2016 Q1
6 quarters
|
|
24
CALL
T-Mobile US
TMUS
$182B
| $1.85M | 0.3% |
+30,000
| New | +$1.88M |
2017 Q3
0 quarters
|
|
|
25
T-Mobile US
TMUS
$182B
| $1.85M | 0.3% |
30,000
| – | – |
2017 Q2
1 quarter
|
|
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Peconic Partners's Q3 2017 Portfolio in Review
As of Q3 2017, Peconic Partners held 65 positions worth $620M, down 0.12% from $621M the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Peconic Partners withdrew a net $39.1M in Q3 2017, closing 21 positions and reducing 5 holdings. Its most notable exit was Goldman Sachs, an estimated $26.6M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 68% of assets, down from 71% a quarter earlier, followed by Miscellaneous and Energy.
Against the trend, Peconic Partners opened a new position in State Street SPDR S&P Oil & Gas Exploration & Production ETF worth $35.3M.
- Peconic Partners's largest Q3 2017 buy was State Street SPDR S&P Oil & Gas Exploration & Production ETF: 258,750 shares worth $35.3M.
- Peconic Partners added most to Quanta Services in Q3 2017, an estimated $6.68M increase.
- Peconic Partners's biggest Q3 2017 reduction was Dycom Industries, cutting an estimated $48.7M.
- Peconic Partners fully exited Goldman Sachs in Q3 2017, selling an estimated $26.6M.
- Peconic Partners's ten largest holdings make up 92% of its $620M portfolio in Q3 2017.
- Peconic Partners opened 15 new positions and closed 21 in Q3 2017.
- Peconic Partners's portfolio value fell 0.12% quarter-over-quarter to $620M.
Based on Peconic Partners's 13F filing for Q3 2017, filed 14 Nov 2017.