CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third
PCPL.U
PCPL.U was delisted on the 4th of February, 2021.
40 hedge funds and large institutions have $143M invested in CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third in 2020 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 4 increasing their positions, 17 reducing their positions, and 15 closing their positions.
15% less funds holding
Funds holding: 47 → 40 (-7)
41% less capital invested
Capital invested by funds: $244M → $143M (-$101M)
47% less first-time investments, than exits
New positions opened: 8 | Existing positions closed: 15
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
76% less repeat investments, than reductions
Existing positions increased: 4 | Existing positions reduced: 17
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WAM
Weiss Asset Management
Boston,
Massachusetts
|
+$2.39M |
| 2 |
HP
Hound Partners
New York
|
+$2.15M |
| 3 |
TAL
TIG Advisors LLC
New York
|
+$1.79M |
| 4 |
AC
Aristeia Capital
Greenwich,
Connecticut
|
+$1.78M |
| 5 |
NAM
Nexpoint Asset Management
Dallas,
Texas
|
+$1.64M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DKCM
Davidson Kempner Capital Management
New York
|
-$15.4M |
| 2 |
KC
Kepos Capital
New York
|
-$12.7M |
| 3 |
Hudson Bay Capital Management
Stamford,
Connecticut
|
-$9.54M |
| 4 |
Alyeska Investment Group
Chicago,
Illinois
|
-$9.37M |
| 5 |
JGC
J. Goldman & Co
New York
|
-$9.16M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
51
UBS Group
Zurich,
Switzerland
| – | -$536K | -50,582 | Closed |
|
|
CAC
52
Cowen and Company
New York
| – | -$318K | -30,015 | Closed |
|
|
PAM
53
Panagora Asset Management
Boston,
Massachusetts
| – | -$81K | -7,599 | Closed |
|
|
FIA
54
FNY Investment Advisers
New York
| – | +$215 | +20 | New |
|
PCPL.U Hedge Fund Activity: Q3 2020 in Review
40 of the 4,957 institutional investors tracked by Wall St. Rank reported a position in CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third (PCPL.U) for Q3 2020, worth a combined $143M — down 41% from $244M a quarter earlier.
Sellers outnumbered buyers: 15 funds closed out of PCPL.U and 8 opened new positions — a net loss of 7 holders — while 17 trimmed existing stakes and 4 added.
The largest buyer was Weiss Asset Management, opening a new position worth an estimated $2.39M. The largest seller was Davidson Kempner Capital Management, exiting entirely with an estimated $15.4M sold.
- 40 institutional investors held CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third (PCPL.U) as of Q3 2020, down from 47 in Q2 2020.
- Funds reported $143M of CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third stock for Q3 2020, down 41% quarter-over-quarter.
- 8 funds opened new CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third positions in Q3 2020 and 15 closed out, a net change of -7 holders.
- The largest CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third buyer in Q3 2020 was Weiss Asset Management, an estimated $2.39M added.
- The largest CC Neuberger Principal Holdings I Units, each consisting of one Class A ordinary share and one-third seller in Q3 2020 was Davidson Kempner Capital Management, an estimated $15.4M sold.
Based on aggregated 13F filings for Q3 2020.