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Tenor Capital Management Portfolio holdings

AUM $6.49B
1-Year Est. Return 3.01%
This Fund
S&P 500
This Quarter Est. Return
+0.08%
1 Year Est. Return
+3.01%
3 Year Est. Return
+3.92%
5 Year Est. Return
+4.42%
10 Year Est. Return
+12.15%
AUM
$1.64B
AUM Growth
-$349M
Cap. Flow
-$1.49B
Cap. Flow %
-90.87%
Top 10 Hldgs %
42.21%
Holding
162
New
26
Increased
2
Reduced
7
Closed
13

Top Buys

Rank Stock Value
1
SPCE icon
Virgin Galactic
SPCE
+$5.44M
2
SBE.U
Switchback Energy Acquisition Corporation
SBE.U
+$3.5M
3
APXTU
Apex Technology Acquisition Corporation Unit
APXTU
+$3.05M
4
THBRU
Thunder Bridge Acquisition II, Ltd. Units
THBRU
+$3.04M
5
SSPKU
Silver Spike Acquisition Corp. Units
SSPKU
+$3.01M

Top Sells

Rank Stock Value
1
WTRU
Essential Utilities, Inc.6.00% Tangible Equity Units
WTRU
+$12.6M
2
ZNGA
ZYNGA INC. CL A COMMON
ZNGA
+$6.84M
3
DCUE
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
+$6.72M
4
AVTR.PRA
Avantor, Inc. Series A Mandatory Convertible Preferred Stock
AVTR.PRA
+$5.27M
5
CFXA
Colfax Corporation 5.75% Tangible Equity Units
CFXA
+$5.07M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 2.41%
2 Industrials 2.24%
3 Financials 0.75%
4 Healthcare 0.4%
5 Technology 0.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OKTA icon
26
Okta
OKTA
$24.6B
$2.03M 0.12%
+20,600
New +$2.57M
FSR
27
DELISTED
Fisker Inc.
FSR
$2.02M 0.12%
200,000
-100,000
-33% -$1M
ATCX
28
DELISTED
Atlas Technical Consultants, Inc. Class A Common Stock
ATCX
$2.02M 0.12%
200,000
– –
BTRS
29
DELISTED
BTRS Holdings Inc. Class 1 Common Stock
BTRS
$1.96M 0.12%
+200,000
New +$1.97M
HYLN icon
30
Hyliion Holdings
HYLN
$672M
$1.73M 0.11%
175,000
-175,000
-50% -$1.72M
BRMK
31
DELISTED
Broadmark Realty Capital Inc. Common Stock
BRMK
$1.57M 0.1%
150,000
– –
ETSY icon
32
Etsy
ETSY
$7.89B
$1.56M 0.1%
+27,700
New +$1.63M
LPRO
33
DELISTED
Open Lending Corp
LPRO
$1.53M 0.09%
150,000
– –
SKIL icon
34
Skillsoft
SKIL
$67.2M
$1.25M 0.08%
+6,250
New +$1.25M
ACTTU
35
DELISTED
Act II Global Acquisition Corp Unit
ACTTU
$1.04M 0.06%
100,000
– –
UTZ icon
36
Utz Brands
UTZ
$1.25B
$1.02M 0.06%
100,000
– –
BEST
37
DELISTED
BEST Inc. American Depositary Shares, each representing twenty (20) Class A Ordinary Shares
BEST
$997K 0.06%
+9,438
New +$943K
DKNG icon
38
DraftKings
DKNG
$11.7B
$985K 0.06%
+100,000
New +$983K
TCOM icon
39
Trip.com Group
TCOM
$29.5B
$732K 0.04%
+25,000
New +$879K
CPAAU
40
DELISTED
Conyers Park II Acquisition Corp. Unit
CPAAU
$533K 0.03%
+50,000
New +$519K
RH icon
41
RH
RH
$3.29B
$527K 0.03%
+3,082
New +$439K
GB
42
DELISTED
Global Blue Group Holding
GB
$511K 0.03%
50,000
– –
PIC.U
43
DELISTED
Pivotal Investment Corporation II Units, each consisting of one share of Class A common stock and on
PIC.U
$509K 0.03%
+50,000
New +$507K
NPAUU
44
DELISTED
New Providence Acquisition Corp. Unit
NPAUU
$505K 0.03%
+50,000
New +$502K
OAC.U
45
DELISTED
Oaktree Acquisition Corp.
OAC.U
$457K 0.03%
+45,000
New +$457K
CCC.WS
46
DELISTED
Clarivate Analytics Plc Warrants, each to purchase one Ordinary Share
CCC.WS
$427K 0.03%
75,000
-25,000
-25% -$140K
APLS
47
DELISTED
Apellis Pharmaceuticals
APLS
$423K 0.03%
+17,548
New +$483K
NIO icon
48
NIO
NIO
$11.9B
$409K 0.03%
262,070
-146,430
-36% -$448K
NXPI icon
49
NXP Semiconductors
NXPI
$56.5B
$382K 0.02%
3,500
– –
MVSTW
50
DELISTED
Microvast Holdings Warrants
MVSTW
$381K 0.02%
500,000
– –
1
2
3 4

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CG
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BF
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BFS
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LAM
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OCM
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HFS
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PCH
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Tenor Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Tenor Capital Management held 162 positions worth $1.64B, down 18% from $1.98B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Tenor Capital Management withdrew a net $1.49B in Q3 2019, closing 13 positions and reducing 7 holdings. Its most notable exit was Essential Utilities, Inc.6.00% Tangible Equity Units, an estimated $12.6M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 2.4% of assets, up from 2% a quarter earlier, followed by Industrials and Financials.

Against the trend, Tenor Capital Management opened a new position in Switchback Energy Acquisition Corporation worth $3.5M.

  • Tenor Capital Management's largest Q3 2019 buy was Switchback Energy Acquisition Corporation: 349,917 shares worth $3.5M.
  • Tenor Capital Management added most to Virgin Galactic in Q3 2019, an estimated $5.44M increase.
  • Tenor Capital Management's biggest Q3 2019 reduction was Regalwood Global Energy Ltd. Class A Ordinary Shares, cutting an estimated $3.08M.
  • Tenor Capital Management fully exited Essential Utilities, Inc.6.00% Tangible Equity Units in Q3 2019, selling an estimated $12.6M.
  • Tenor Capital Management's ten largest holdings make up 42% of its $1.64B portfolio in Q3 2019.
  • Tenor Capital Management opened 26 new positions and closed 13 in Q3 2019.
  • Tenor Capital Management's portfolio value fell 18% quarter-over-quarter to $1.64B.

Based on Tenor Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.