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PG&E
PCG

509 hedge funds and large institutions have $10.5B invested in PG&E in 2018 Q4 according to their latest regulatory filings, with 79 funds opening new positions, 158 increasing their positions, 202 reducing their positions, and 182 closing their positions.

New
Increased
Maintained
Reduced
Closed

121% more call options, than puts

Call options by funds: $251M | Put options by funds: $113M

1.32% more ownership

Funds ownership: 83.73% → 85.06% (+1.3%)

18% less funds holding

Funds holding: 619 → 509 (-110)

19% less funds holding in top 10

Funds holding in top 10: 32 → 26 (-6)

22% less repeat investments, than reductions

Existing positions increased: 158 | Existing positions reduced: 202

48% less capital invested

Capital invested by funds: $19.9B → $10.5B (-$9.47B)

57% less first-time investments, than exits

New positions opened: 79 | Existing positions closed: 182

Holders
509
Holders Change
-110
Holders Change %
-17.77%
% of All Funds
11.34%
Holding in Top 10
26
Holding in Top 10 Change
-6
Holding in Top 10 Change %
-18.75%
% of All Funds
0.58%
New
79
Increased
158
Reduced
202
Closed
182
Calls
$251M
Puts
$113M
Net Calls
+$138M
Net Calls Change
-$135M

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$342M
2
ACG
Anchorage Capital Group
New York
+$338M
3
Lazard Asset Management
Lazard Asset Management
New York
+$158M
4
AIM
Assured Investment Management
New York
+$133M
5
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$106M

Top Sellers

Rank Fund Capital Flow
1
OAG
Orbis Allan Gray
Bermuda
-$289M
2
Viking Global Investors
Viking Global Investors
Connecticut
-$264M
3
BlackRock
BlackRock
New York
-$156M
4
BG
Baupost Group
Massachusetts
-$125M
5
Franklin Resources
Franklin Resources
California
-$96.6M
Name Holding Trade Value Shares
Change 		Change in
Stake
CBOA
26
Commonwealth Bank of Australia
Australia
$87.8M -$38.6M -1,079,450 -23%
SCA
27
Southpoint Capital Advisors
New York
$76M -$67.7M -1,892,600 -37%
Bank of New York Mellon
28
Bank of New York Mellon
New York
$72.6M -$32.8M -915,705 -23%
Invesco
29
Invesco
Georgia
$70.1M +$43.5M +1,216,448 +70%
MBA
30
Maple-Brown Abbott
Australia
$69.9M +$9.91M +276,900 +10%
CIA
31
ClearBridge Investments (Australia)
Australia
$69.6M +$63.3M +1,768,618 +152%
NM
32
Newtyn Management
New York
$69.2M +$57.8M +1,615,000 +124%
Arrowstreet Capital
33
Arrowstreet Capital
Massachusetts
$68.8M +$104M +2,897,851 New
CP
34
Centerbridge Partners
New York
$67.8M +$102M +2,855,185 New
Two Sigma Advisers
35
Two Sigma Advisers
New York
$67.7M +$67.1M +1,876,700 +193%
Two Sigma Investments
36
Two Sigma Investments
New York
$65.3M +$58.6M +1,636,566 +147%
Thrivent Financial for Lutherans
37
Thrivent Financial for Lutherans
Minnesota
$63.4M -$9.17M -256,271 -9%
Macquarie Group
38
Macquarie Group
Australia
$59.7M +$19.5M +545,654 +28%
Charles Schwab
39
Charles Schwab
California
$57.1M +$7M +195,598 +9%
A
40
Attestor
United Kingdom
$57.1M +$86M +2,403,214 New
TSW
41
Thompson Siegel & Walmsley
Virginia
$57.1M +$45.3M +1,265,641 +111%
Massachusetts Financial Services
42
Massachusetts Financial Services
Massachusetts
$52.9M -$20.1M -561,687 -20%
Morgan Stanley
43
Morgan Stanley
New York
$52M -$46M -1,285,342 -37%
UBS AM
44
UBS AM
Illinois
$51.9M -$2.7M -75,530 -3%
CS
45
Credit Suisse
Switzerland
$51M +$44.6M +1,247,671 +139%
HVCM
46
HG Vora Capital Management
New York
$47.5M +$71.6M +2,000,000 New
Sumitomo Mitsui Trust Group
47
Sumitomo Mitsui Trust Group
Japan
$46.6M +$4.73M +132,287 +7%
Fidelity International
48
Fidelity International
Bermuda
$42.8M +$32.2M +899,995 +100%
California Public Employees Retirement System
49
California Public Employees Retirement System
California
$42.7M +$6.71M +187,527 +12%
Canada Pension Plan Investment Board
50
Canada Pension Plan Investment Board
Ontario, Canada
$42.2M +$11.9M +331,300 +23%
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PCG Hedge Fund Activity: Q4 2018 in Review

509 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in PG&E (PCG) for Q4 2018, worth a combined $10.5B — down 48% from $19.9B a quarter earlier.

Sellers outnumbered buyers: 182 funds closed out of PCG and 79 opened new positions — a net loss of 103 holders — while 202 trimmed existing stakes and 158 added.

The largest buyer was Vanguard Group, adding an estimated $342M. The largest seller was Orbis Allan Gray, cutting an estimated $289M.

  • 509 institutional investors held PG&E (PCG) as of Q4 2018, down from 619 in Q3 2018.
  • Funds reported $10.5B of PG&E stock for Q4 2018, down 48% quarter-over-quarter.
  • 79 funds opened new PG&E positions in Q4 2018 and 182 closed out, a net change of -103 holders.
  • The largest PG&E buyer in Q4 2018 was Vanguard Group, an estimated $342M added.
  • The largest PG&E seller in Q4 2018 was Orbis Allan Gray, an estimated $289M sold.

Based on aggregated 13F filings for Q4 2018.