Managers / Q4 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 $122M in U.S.-listed holdings across 16 positions for Q4 2020.
The portfolio is heavily concentrated: PCG alone accounts for 20.5% of reported value.
Compared with Q3 2020, the fund opened 4 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 · 87.4% · $106M
- ETP · 12.3% · $15M
- Equity WRT · 0.3% · $409,000
Quarter-over-Quarter Changes full breakdown →
vs Q3 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BVBRIGHTVIEW HLDGS INC | NEW | +250.0K | 250.0K | +$4M | $4M |
| ACTIVISION BLIZZARD INC | NEW | +40.0K | 40.0K | +$4M | $4M |
| JBLUJETBLUE AWYS CORP | NEW | +250.0K | 250.0K | +$4M | $4M |
| OXY/WSOCCIDENTAL PETE CORP | NEW | +60.0K | 60.0K | +$409,000 | $409,000 |
| GDGENERAL DYNAMICS CORP | SOLD OUT | −32.5K | 0 | −$4M | $0 |
| IMMUIMMUNOMEDICS INC | SOLD OUT | −50.0K | 0 | −$4M | $0 |
| SERVICEMASTER GLOBAL HLDGS I | SOLD OUT | −100.0K | 0 | −$4M | $0 |
| FEFIRSTENERGY CORP | ADDED | +50.0K | 100.0K | +$2M | $3M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PCGPG&E CORPhistory → | COM | 20.46% | $25M | 2.00M |
| 2 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 14.85% | $18M | 78.0K |
| 3 | SPYSPDR S&P 500 ETF TRhistory → | TR UNIT | 12.28% | $15M | 40.0K |
| 4 | TMUST-MOBILE US INChistory → | COM | 6.20% | $8M | 56.0K |
| 5 | DISHDISH NETWORK CORPhistory → | CL A | 5.98% | $7M | 225.0K |
| 6 | VVISA INChistory → | COM CL A | 5.39% | $7M | 30.0K |
| 7 | JPMJPMORGAN CHASE & COhistory → | COM | 5.22% | $6M | 50.0K |
| 8 | LNGCHENIERE ENERGY INChistory → | COM NEW | 4.68% | $6M | 95.0K |
| 9 | MSFTMICROSOFT CORPhistory → | COM | 4.57% | $6M | 25.0K |
| 10 | TJXTJX COS INC NEWhistory → | COM | 4.21% | $5M | 75.0K |
| 11 | NKENIKE INChistory → | CL B | 4.18% | $5M | 36.0K |
| 12 | BVBRIGHTVIEW HLDGS INChistory → | COM | 3.10% | $4M | 250.0K |
| 13 | ACTIVISION BLIZZARD INC | COM | 3.05% | $4M | 40.0K |
| 14 | JBLUJETBLUE AWYS CORPhistory → | COM | 2.98% | $4M | 250.0K |
| 15 | FEFIRSTENERGY CORPhistory → | COM | 2.51% | $3M | 100.0K |
| 16 | OXY/WSOCCIDENTAL PETE CORP | W EXP 08/03/202 | 0.34% | $409,000 | 60.0K |
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 ↗.