Managers / Q3 2020 · view latest →
Taal Capital Management LP
CIK 0001811243 · ONE BEACON STREET, SUITE 21300, BOSTON, MA, 02108 · 617-880-7410
Summary
Taal Capital Management LP reported $102M in U.S.-listed holdings across 16 positions for Q3 2020.
Its largest position, PCG, represents 18.4% of the portfolio.
Compared with Q2 2020, the fund opened 3 new positions and exited 4.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 89.4% · $91M
- ETP · 9.8% · $10M
- Right · 0.8% · $788,000
Quarter-over-Quarter Changes full breakdown →
vs Q2 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPYSPDR S&P 500 ETF TR | NEW | +30.0K | 30.0K | +$10M | $10M |
| IMMUIMMUNOMEDICS INC | NEW | +50.0K | 50.0K | +$4M | $4M |
| FEFIRSTENERGY CORP | NEW | +50.0K | 50.0K | +$1M | $1M |
| BRISTOL-MYERS SQUIBB CO | ADDED | +250.0K | 350.0K | +$430,000 | $788,000 |
| COSTCOSTCO WHSL CORP NEW | SOLD OUT | −15.0K | 0 | −$5M | $0 |
| GOOGALPHABET INC | SOLD OUT | −2.5K | 0 | −$4M | $0 |
| MOALTRIA GROUP INC | SOLD OUT | −50.0K | 0 | −$2M | $0 |
| T-MOBILE US INC | SOLD OUT | −340.0K | 0 | −$57,000 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PCGPG&E CORPhistory → | COM | 18.40% | $19M | 2.00M |
| 2 | BRK/BBERKSHIRE HATHAWAY INChistory → | CL B NEW | 15.65% | $16M | 75.0K |
| 3 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 9.84% | $10M | 30.0K |
| 4 | TMUST-MOBILE US INChistory → | COM | 7.06% | $7M | 63.0K |
| 5 | JPMJPMORGAN CHASE & COhistory → | COM | 5.19% | $5M | 55.0K |
| 6 | MSFTMICROSOFT CORPhistory → | COM | 5.15% | $5M | 25.0K |
| 7 | NKENIKE INChistory → | CL B | 4.92% | $5M | 40.0K |
| 8 | VVISA INChistory → | COM CL A | 4.90% | $5M | 25.0K |
| 9 | DISHDISH NETWORK CORPORATIONhistory → | CL A | 4.84% | $5M | 170.0K |
| 10 | LNGCHENIERE ENERGY INChistory → | COM NEW | 4.76% | $5M | 105.0K |
| 11 | TJXTJX COS INC NEWhistory → | COM | 4.63% | $5M | 85.0K |
| 12 | GDGENERAL DYNAMICS CORPhistory → | COM | 4.41% | $4M | 32.5K |
| 13 | IMMUIMMUNOMEDICS INChistory → | COM | 4.17% | $4M | 50.0K |
| 14 | SERVICEMASTER GLOBAL HLDGS I | COM | 3.91% | $4M | 100.0K |
| 15 | FEFIRSTENERGY CORPhistory → | COM | 1.41% | $1M | 50.0K |
| 16 | BRISTOL-MYERS SQUIBB CO | RIGHT 99/99/9999 | 0.77% | $788,000 | 350.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q2 2021 | $122M | 34 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $122M | 46 | May 14, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $122M | 16 | Feb 12, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $102M | 16 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $92M | 17 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $78M | 16 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.