Governors Lane LP's Q4 2025 13F: 63 new positions, 35 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Feb 17, 2026 · 152 reported positions · accession 0001644187-26-000001
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | ELECTRONIC ARTS INC (EA) | 0.8% | 4.4% | +3.6 pts | +206K sh | +727% |
| Increased | WARNER BROS DISCOVERY INC (WBD) | 2.9% | 6.0% | +3.2 pts | +1.2M sh | +115% |
| Increased | AMAZON COM INC (AMZN) | 1.6% | 3.3% | +1.7 pts | +103K sh | +197% |
| Exited | CANTOR EQUITY PARTNERS III I (CAEP) | 1.9% | — | −1.9 pts | −1.3M sh | −100% |
| New | HOLOGIC INC (HOLX) | — | 1.8% | +1.8 pts | +254K sh | new |
| Increased | NORFOLK SOUTHN CORP (NSC) | 5.6% | 5.3% | −0.3 pts | +63,001 sh | +47% |
| Exited | KELLANOVA (K) | 1.6% | — | −1.6 pts | −144K sh | −100% |
| Exited | META PLATFORMS INC (META) | 1.4% | — | −1.4 pts | −14,200 sh | −100% |
| Exited | BERTO ACQUISITION CORP (TACO) | 1.4% | — | −1.4 pts | −980K sh | −100% |
| Exited | BATH & BODY WORKS INC (BBWI) | 1.4% | — | −1.4 pts | −395K sh | −100% |
| New | CIDARA THERAPEUTICS INC (CDTX) | — | 1.3% | +1.3 pts | +62,325 sh | new |
| Increased | COREBRIDGE FINL INC (CRBG) | 1.6% | 2.2% | +0.6 pts | +442K sh | +124% |
| New | QORVO INC (QRVO) | — | 1.2% | +1.2 pts | +155K sh | new |
| Exited | JONES LANG LASALLE INC (JLL) | 1.2% | — | −1.2 pts | −28,569 sh | −100% |
| Reduced | VENTAS INC (VTR) | 5.3% | 2.8% | −2.6 pts | −165K sh | −30% |
| New | NEW AMER ACQUISITION I CORP (NWAX) | — | 1.2% | +1.2 pts | +1.2M sh | new |
| Increased | TXNM ENERGY INC (PNM) | 5.4% | 4.9% | −0.5 pts | +210K sh | +30% |
| New | EXACT SCIENCES CORP (EXAS) | — | 1.1% | +1.1 pts | +121K sh | new |
| New | ASML HOLDING N V (ASML) | — | 1.1% | +1.1 pts | +11,316 sh | new |
| New | APPLIED MATLS INC (AMAT) | — | 1.1% | +1.1 pts | +46,032 sh | new |
| Exited | CHURCHILL CAP CORP X (CCCX) | 1.1% | — | −1.1 pts | −607K sh | −100% |
| Exited | MOUNTAIN LAKE ACQUISITION CO (MLAC) | 1.1% | — | −1.1 pts | −733K sh | −100% |
| New | KARBON CAP PARTNERS CORP (KBONU) | — | 1.0% | +1.0 pts | +1.1M sh | new |
| Increased | ALLY FINL INC (ALLY) | 1.2% | 1.9% | +0.7 pts | +243K sh | +113% |
| New | EVOLUTION GLOBAL ACQUISITION (EVOX) | — | 0.9% | +0.9 pts | +1.04M sh | new |
| New | CANTOR EQUITY PARTNERS V INC (CEPV) | — | 0.9% | +0.9 pts | +971K sh | new |
| New | SILICON VY ACQUISITION CORP (SVAQU) | — | 0.9% | +0.9 pts | +1M sh | new |
| Exited | AUTODESK INC (ADSK) | 0.9% | — | −0.9 pts | −19,462 sh | −100% |
| New | AVIDITY BIOSCIENCES INC (RNA) | — | 0.8% | +0.8 pts | +123K sh | new |
| Exited | INTUIT (INTU) | 0.8% | — | −0.8 pts | −8,580 sh | −100% |
| New | UWM HOLDINGS CORPORATION (UWMC) | — | 0.8% | +0.8 pts | +2M sh | new |
| New | FUTURECREST ACQUISITION CORP (FCRS) | — | 0.8% | +0.8 pts | +850K sh | new |
| Exited | WORKDAY INC (WDAY) | 0.8% | — | −0.8 pts | −23,000 sh | −100% |
| Exited | CANTOR EQUITY PARTNERS I INC (CEPO) | 0.8% | — | −0.8 pts | −519K sh | −100% |
| Exited | ANDRETTI ACQUISITION CORP II (POLE) | 0.7% | — | −0.7 pts | −500K sh | −100% |
| New | CRANE HBR ACQUISITION CORP I (CRANU) | — | 0.7% | +0.7 pts | +750K sh | new |
| Increased | NIQ GLOBAL INTELLIGENCE PLC (NIQ) | 1.2% | 1.5% | +0.3 pts | +435K sh | +77% |
| Reduced | BANK AMERICA CORP (BAC) | 5.2% | 3.0% | −2.2 pts | −129K sh | −18% |
| New | VANGUARD INDEX FDS (VTI) | — | 0.6% | +0.6 pts | +19,677 sh | new |
| New | BLACKLINE INC (BL) | — | 0.6% | +0.6 pts | +119K sh | new |
| Reduced | FIDELITY NATL INFORMATION SV (FIS) | 3.3% | 1.6% | −1.7 pts | −93,813 sh | −26% |
| New | TECK RESOURCES LTD (TECK) | — | 0.6% | +0.6 pts | +127K sh | new |
| New | ALUSSA ENERGY ACQUISITION CO (ALUBU) | — | 0.6% | +0.6 pts | +600K sh | new |
| New | JANUS HENDERSON GROUP PLC (JHG) | — | 0.6% | +0.6 pts | +125K sh | new |
| New | MADDEN STEVEN LTD (SHOO) | — | 0.5% | +0.5 pts | +138K sh | new |
| New | CSG SYS INTL INC (CSGS) | — | 0.5% | +0.5 pts | +72,540 sh | new |
| Increased | CANTOR EQUITY PARTNERS IV IN (CEPF) | 0.5% | 0.8% | +0.3 pts | +526K sh | +149% |
| Increased | INFLECTION POINT ACQUISITION (BACQ) | 0.7% | 1.0% | +0.3 pts | +501K sh | +100% |
| New | PLYMOUTH INDL REIT INC (PLYM) | — | 0.5% | +0.5 pts | +245K sh | new |
| Exited | SPDR S&P 500 ETF TR (SPY) | 0.5% | — | −0.5 pts | −5,170 sh | −100% |
The 50 largest of 158 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- PROCAP FINL INC (BRRWW): G2296A117 → 74277P113, 301K → 301K shares
Top 10 positions — 37.5% of the equity book
Changes in the top 10 this quarter: EA entered · AMZN entered · CRBG entered · FIS left · NKE left · SATS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | WARNER BROS DISCOVERY INC (WBD) | 2.9% | 6.0% | |
| 2 | NORFOLK SOUTHN CORP (NSC) | 5.6% | 5.3% | |
| 3 | TXNM ENERGY INC (PNM) | 5.4% | 4.9% | |
| 4 | ELECTRONIC ARTS INC (EA) | 0.8% | 4.4% | Entered the top 10 |
| 5 | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | 4.1% | 3.3% | |
| 6 | AMAZON COM INC (AMZN) | 1.6% | 3.3% | Entered the top 10 |
| 7 | BANK AMERICA CORP (BAC) | 5.2% | 3.0% | |
| 8 | VENTAS INC (VTR) | 5.3% | 2.8% | |
| 9 | COREBRIDGE FINL INC (CRBG) | 1.6% | 2.2% | Entered the top 10 |
| 10 | KKR & CO INC (KKR) | 2.8% | 2.2% | |
| — | FIDELITY NATL INFORMATION SV (FIS) | 3.3% | 1.6% | Left the top 10 |
| — | NIKE INC (NKE) | 2.4% | 1.8% | Left the top 10 |
| — | ECHOSTAR CORP (SATS) | 2.4% | 2.0% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).
Option positions (puts and calls)
Reported separately from the positions above. The value a 13F reports for an option is that of the underlying shares, not the option itself.
| Activity | Security | Type | Shares before | Shares now | Reported value |
|---|---|---|---|---|---|
| New | APPLE INC (AAPL) | Put | 0 | 480K | $130M |
| Exited | APPLIED MATLS INC (AMAT) | Put | 308K | 0 | $0 |
| Reduced | AMAZON COM INC (AMZN) | Call | 550K | 269K | $62.1M |
| Reduced | TAIWAN SEMICONDUCTOR MFG LTD (TSM) | Call | 630K | 400K | $122M |
| Exited | CORNING INC (GLW) | Put | 535K | 0 | $0 |
| Exited | SUPER MICRO COMPUTER INC (SMCI) | Put | 665K | 0 | $0 |
| Increased | ASML HOLDING N V (ASML) | Call | 48,000 | 72,000 | $77M |
| New | APPLIED MATLS INC (AMAT) | Call | 0 | 115K | $29.6M |
| New | SANDISK CORP (SNDK) | Put | 0 | 111K | $26.3M |
| Increased | WARNER BROS DISCOVERY INC (WBD) | Put | 737K | 1.22M | $35.2M |
| Increased | COREBRIDGE FINL INC (CRBG) | Put | 358K | 800K | $24.1M |
| Exited | NIKE INC (NKE) | Call | 170K | 0 | $0 |
| New | D R HORTON INC (DHI) | Put | 0 | 81,000 | $11.7M |
| Reduced | SENTINELONE INC (S) | Call | 1.08M | 538K | $8.06M |
| Exited | META PLATFORMS INC (META) | Put | 14,200 | 0 | $0 |
| Increased | BANK AMERICA CORP (BAC) | Call | 100K | 270K | $14.9M |
| New | AMERICAN INTL GROUP INC (AIG) | Put | 0 | 100K | $8.56M |
| New | KIMBERLY-CLARK CORP (KMB) | Call | 0 | 71,200 | $7.18M |
| New | WARNER BROS DISCOVERY INC (WBD) | Call | 0 | 200K | $5.76M |
| Increased | INTEL CORP (INTC) | Call | 780K | 860K | $31.7M |
| New | KENVUE INC (KVUE) | Call | 0 | 200K | $3.45M |
| New | AMERICAN INTL GROUP INC (AIG) | Call | 0 | 40,100 | $3.43M |
| Exited | KODIAK AI INC. (KDK) | Call | 200K | 0 | $0 |