Managers / Q2 2021
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 34 positions for Q2 2021.
Its largest position, PCG, represents 11.7% of the portfolio.
Compared with Q1 2021, the fund opened 4 new positions and exited 16.
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 · 90.8% · $111M
- Other · 8.9% · $11M
- Equity WRT · 0.3% · $417,000
Quarter-over-Quarter Changes full breakdown →
vs Q1 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ALXNALEXION PHARMACEUTICALS INC | NEW | +50.0K | 50.0K | +$9M | $9M |
| PERSHING SQUARE TONTINE HLDG | NEW | +175.0K | 175.0K | +$4M | $4M |
| GOOGLALPHABET INC | NEW | +1.5K | 1.5K | +$4M | $4M |
| NWSNEWS CORP NEW | NEW | +139.8K | 139.8K | +$3M | $3M |
| STARBOARD VALUE ACQUISITN CO | ADDED | +19.0K | 20.0K | +$9M | $9M |
| FEFIRSTENERGY CORP | SOLD OUT | −150.0K | 0 | −$5M | $0 |
| ACTIVISION BLIZZARD INC | SOLD OUT | −40.0K | 0 | −$4M | $0 |
| BIDUBAIDU INC | SOLD OUT | −2.3K | 0 | −$500,000 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PCGPG&E CORPhistory → | COM | 11.65% | $14M | 1.40M |
| 2 | ALXNALEXION PHARMACEUTICALS INChistory → | COM | 7.52% | $9M | 50.0K |
| 3 | STARBOARD VALUE ACQUISITN CO | COM CL A | 7.01% | $9M | 20.0K |
| 4 | BRK/BBERKSHIRE HATHAWAY INC DELhistory → | CL B NEW | 6.83% | $8M | 30.0K |
| 5 | TMUST MOBILE US INChistory → | COM | 6.52% | $8M | 55.0K |
| 6 | DISCOVERY INC | COM SER C | 6.40% | $8M | 269.9K |
| 7 | VVISA INChistory → | COM CL A | 5.74% | $7M | 30.0K |
| 8 | JPMJPMORGAN CHASE & COhistory → | COM | 5.73% | $7M | 45.0K |
| 9 | MSFTMICROSOFT CORPhistory → | COM | 5.54% | $7M | 25.0K |
| 10 | DISHDISH NETWORK CORPORATIONhistory → | CL A | 5.47% | $7M | 160.0K |
| 11 | LNGCHENIERE ENERGY INChistory → | COM NEW | 4.62% | $6M | 65.0K |
| 12 | SOLARWINDS CORP | COM | 4.29% | $5M | 310.0K |
| 13 | TJXTJX COS INC NEWhistory → | COM | 4.14% | $5M | 75.0K |
| 14 | PERSHING SQUARE TONTINE HLDG | COM CL A | 3.26% | $4M | 175.0K |
| 15 | NKENIKE INChistory → | CL B | 3.16% | $4M | 25.0K |
| 16 | GOOGLALPHABET INChistory → | CAP STK CL A | 3.00% | $4M | 1.5K |
| 17 | NWSNEWS CORP NEWhistory → | CL B | 2.79% | $3M | 139.8K |
| 18 | FISVFISERV INChistory → | COM | 2.06% | $3M | 23.6K |
| 19 | JBLUJETBLUE AWYS CORPhistory → | COM | 2.06% | $3M | 150.0K |
| 20 | NEXTGEN ACQUISITION CORP II | UNIT 03/23/2026 | 0.80% | $974,000 | 90.0K |
| 21 | OXY/WSOCCIDENTAL PETE CORP | W EXP 08/03/202 | 0.34% | $417,000 | 30.0K |
| 22 | ALTIMAR ACQUISITION CORP III | UNIT 99/99/9999 | 0.21% | $253,000 | 25.0K |
| 23 | ISOS ACQUISITION CORPORATION | UNIT 99/99/9999 | 0.08% | $102,000 | 10.0K |
| 24 | MSD ACQUISITION CORP | UNIT 03/25/2026 | 0.08% | $101,000 | 10.0K |
| 25 | FREEDOM ACQUISITION I CORP | UNIT 99/99/9999 | 0.08% | $100,000 | 10.0K |
| 26 | HUDSON EXECUTIVE INVES III | UNIT 02/22/2026 | 0.08% | $100,000 | 10.0K |
| 27 | LEAD EDGE GROWTH OPRTUNTS LT | UNIT 04/01/2026 | 0.08% | $100,000 | 10.0K |
| 28 | FIRST RESERVE SUSTAINABLE GW | UNIT 03/05/2026 | 0.08% | $100,000 | 10.0K |
| 29 | PERIDOT ACQUISITION CORP II | UNIT 99/99/9999 | 0.08% | $100,000 | 10.0K |
| 30 | SUPERNOVA PARTNERS ACQUISTN | UNIT 99/99/9999 | 0.08% | $100,000 | 10.0K |
| 31 | KHOSLA VENTURES ACQUT CO III | COM CL A | 0.08% | $99,000 | 10.0K |
| 32 | GORES TECHNOLOGY PARTNERS II | UNIT 03/16/2028 | 0.04% | $52,000 | 5.0K |
| 33 | WALDENCAST ACQUISITION CORP | UNIT 03/11/2026 | 0.04% | $51,000 | 5.0K |
| 34 | VIRGIN GROUP ACQUISIT CORP I | UNIT 99/99/9999 | 0.04% | $50,000 | 5.0K |
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 ↗.