CIK: 0001564220
Total reported value
$97.5M
Reporting period: 2016-09-30 · Number of holdings: 8
Panning Capital Management, LP disclosed 8 holdings in its latest 13F filing for the period ending 2016-09-30, with total reported value of $97.5M and a quarterly turnover rate of 89.9%.
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Panning Capital Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.285 — mathematically equivalent to about 4 equally-sized positions, well below its 8 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.21), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 7.8 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Sector classification currently covers about 46% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim AAPL
-50.0% -$31.3M
Trim DBRG 3.875 01-15-21
-47.4% -$12.2M
Add KMI
0.0% -$1.0K
New buy RHLD
New buy WMB
Sold out ALLY
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 46.38% | -18.30% | -50.00% | |
| 2 | RHLD | Resolute Holdings Management, Inc. | Stock-Other | 15.81% | +15.81% | NEW | |
| 3 | DBRG 3.875 01-15-21 | Colony Capital INC | Stock-Financials | 14.50% | -7.81% | -47.45% | |
| 4 | WMB | Williams Cos INC | Stock-Energy | 14.18% | +14.18% | NEW | |
| 5 | DYN | Dynegy INC New Del | Stock-Other | 5.08% | +5.08% | NEW | |
| 6 | NWG V8.625 PERP *** | Natwest Group PLC | Stock-Financials | 2.57% | +2.57% | NEW | |
| 7 | ✓ | Boardwalk Pipeline Partners | Stock-Other | 1.46% | +1.46% | NEW | |
| 8 | KMI | Kinder Morgan, Inc. | Stock-Energy | 0.02% | +0.01% | — |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2016-09-30 | 8 | $97.5M | 90 | |
| 2016-06-30 | 6 | $118.3M | 100 | |
| 2016-03-31 | 5 | $351.9M | 100 | |
| 2015-12-31 | 7 | $175.9M | 100 | |
| 2015-09-30 | 14 | $639.4M | 100 | |
| 2015-06-30 | 12 | $345.4M | 100 | |
| 2015-03-31 | 15 | $1.2B | 100 | |
| 2014-12-31 | 13 | $207.5M | 100 | |
| 2014-09-30 | 10 | $568.3M | 100 | |
| 2014-06-30 | 12 | $421.3M | 100 | |
| 2014-03-31 | 11 | $243.9M | 100 | |
| 2013-12-31 | 22 | $570.2M | 100 | |
| 2013-09-30 | 20 | $322.3M | 100 | |
| 2013-06-30 | 26 | $322.6M | 0 |
Panning Capital Management, LP's most significant position changes for 2016-09-30: New buy: Resolute Holdings Management, Inc. (RHLD); New buy: Williams Cos INC (WMB); Sold out: Ally Financial INC (ALLY); Sold out: Ditech Holding CORP (DHCP 4.5 11-01-19); New buy: Dynegy INC New Del (DYN).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | KMI | Kinder Morgan, Inc. | 0% | — | Unchanged |
| 2 | DBRG 3.875 01-15-21 | Colony Capital INC | -7.8% | -47.45% | Trim |
| 3 | AAPL | Apple INC | -18.3% | -50.00% | Trim |
| 4 | RHLD | Resolute Holdings Management, Inc. | — | NEW | New buy |
| 5 | WMB | Williams Cos INC | — | NEW | New buy |
| 6 | ALLY | Ally Financial INC | — | EXIT | Sold out |
| 7 | DHCP 4.5 11-01-19 | Ditech Holding CORP | — | EXIT | Sold out |
| 8 | DYN | Dynegy INC New Del | — | NEW | New buy |
| 9 | NWG V8.625 PERP *** | Natwest Group PLC | — | NEW | New buy |
| 10 | ✓ | Boardwalk Pipeline Partners | — | NEW | New buy |
| 11 | JAZZ | Jazz Pharmaceuticals plc | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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