WhaleCreep

Sachem Head Capital Management LP 13F holdings, Q3 2020

Hedge fundSEC filingsCompare with another fundHoldings as of 2020-09-30, filed 2020-11-13

Sachem Head Capital Management LP disclosed 18 US equity positions worth $1.6bn in its Q3 2020 13F filing. Its largest position is EXP at 14.0% of the reported book, followed by OLN and OPTU. Versus Q2 2020 it opened 5 new positions, added to 7, reduced 2 and exited 6.

$1.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
18
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.0%
Largest position
The largest single position as a share of the reported equity book.
75.0%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
14
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
51
Quarters on file since Q4 2013
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2020: 5 new, 7 added, 2 reduced, 6 exited

18 rows
EXP EAGLE MATERIALS INCBasic Materials14.0%$232m2.68m−12%reduced
OLN OLIN CORPBasic Materials11.2%$185m14.95m0.0%held
OPTU OPTIMUM COMMUNICATIONS INCCommunication Services7.9%$130m5.00m+32%added
LKQ LKQ CORPConsumer Cyclical7.3%$120m4.33m+30%added
META META PLATFORMS INCCommunication Services6.3%$103m395,000–new
SYF SYNCHRONY FINANCIALFinancial Services6.1%$100m3.83m+16%added
USFD US FOODS HLDG CORPConsumer Defensive6.1%$100.0m4.50m0.0%held
ELAN ELANCO ANIMAL HEALTH INCHealthcare5.9%$97.8m3.50m–new
KBR KBR INCIndustrials5.4%$88.3m3.95m+32%added
FLEX FLEX LTDTechnology4.9%$80.2m7.20m0.0%held
NUANEUR NUANCE COMMUNICATIONS INC–4.8%$79.7m2.40m+41%added
LOPE GRAND CANYON ED INCConsumer Defensive3.9%$64.0m800,000+14%added
UBER UBER TECHNOLOGIES INCTechnology3.8%$62.0m1.70m0.0%held
DELL DELL TECHNOLOGIES INCTechnology3.7%$60.9m900,000–new
PCG PG&E CORPUtilities3.6%$58.7m6.25m−6.7%reduced
CM LIFE SCIENCES INC no ticker–2.2%$36.3m3.46m–new
CSTM CONSTELLIUM SEBasic Materials1.8%$29.5m3.76m+77%added
PFGC PERFORMANCE FOOD GROUP COConsumer Defensive1.3%$22.2m640,000–new

Exited since Q2 2020

6 rows
CRM SALESFORCE INC6.5%$90.9m
CMCSA COMCAST CORP NEW4.2%$58.5m
2U INC no ticker3.8%$52.8m
DRI DARDEN RESTAURANTS INC3.6%$50.0m
QSR RESTAURANT BRANDS INTL INC2.7%$37.7m
SYY SYSCO CORP1.2%$17.2m

Sector mix

  • Basic Materials27.0%
  • Communication Services14.2%
  • Technology12.3%
  • Consumer Defensive11.3%
  • Consumer Cyclical7.3%
  • Unclassified7.0%
  • Financial Services6.1%
  • Healthcare5.9%
  • Industrials5.4%
  • Utilities3.6%

Book over time

Every quarter on file (51)
QuarterPositionsEquity book
Q2 202619$4.8bn
Q1 202619$4.2bn
Q4 202520$4.3bn
Q3 202519$3.5bn
Q2 202519$3.2bn
Q1 202516$2.5bn
Q4 202414$1.8bn
Q3 202414$1.9bn
Q2 202416$2.0bn
Q1 202411$2.2bn
Q4 202312$2.0bn
Q3 202312$2.0bn
Q2 202315$2.2bn
Q1 202317$2.3bn
Q4 202218$2.6bn
Q3 202221$2.7bn
Q2 202220$3.3bn
Q1 202218$3.9bn
Q4 202120$4.3bn
Q3 202123$4.1bn
Q2 202125$3.9bn
Q1 202123$3.7bn
Q4 202019$2.9bn
Q3 202018$1.6bn
Q2 202019$1.4bn
Q1 202012$1.0bn
Q4 201912$1.3bn
Q3 201911$1.3bn
Q2 20196$947m
Q1 201912$1.6bn
Q4 20189$1.6bn
Q3 201811$2.2bn
Q2 201814$2.7bn
Q1 201814$3.0bn
Q4 201713$2.2bn
Q3 201713$2.1bn
Q2 201711$2.2bn
Q1 201716$3.1bn
Q4 201613$2.6bn
Q3 201610$2.0bn
Q2 201611$2.3bn
Q1 201611$2.7bn
Q4 201511$3.2bn
Q3 201511$2.2bn
Q2 20156$1.5bn
Q1 20158$1.5bn
Q4 20147$1.3bn
Q3 201410$897m
Q2 201413$979m
Q1 201413$640m
Q4 20139$453m

Where Sachem Head Capital Management LP was early

20 rows
AWI ARMSTRONG WORLD INDS INC NEWQ1 20142 of 1333.3%6.1%2Exited by Q3 2014+7.8%
SIG SIGNET JEWELERS LIMITEDQ1 20143 of 13813.3%13.3%2Exited by Q3 2014+4.5%
ZTS ZOETIS INCQ1 20147 of 17810.3%18.1%8Exited by Q1 2016+66%
APD AIR PRODS & CHEMS INCQ1 20148 of 16911.9%11.9%9Exited by Q4 2024+170%
CDK CDK GLOBAL INCQ3 20141 of 1398.2%45.8%14Exited by Q2 2018+107%
PTC PTC INCQ2 20159 of 1746.1%6.1%4Exited by Q2 2016−19%
FIS FIDELITY NATL INFORMATION SVQ3 201512 of 2259.3%9.3%2Exited by Q1 2016−9.7%
ADSK AUTODESK INCQ4 201515 of 21724.8%46.0%11Exited by Q1 2019+111%
CHTR CHARTER COMMUNICATIONS INC NQ2 201617 of 26910.4%11.6%5Exited by Q3 2017+47%
DELL DELL TECHNOLOGIES INCQ3 20166 of 2745.5%11.4%10Exited by Q4 2021+293%
CRM SALESFORCE INCQ4 201619 of 3035.6%14.6%22Exited by Q2 2024+340%
NBIS YANDEX N VQ4 201719 of 2493.5%14.6%8Exited by Q1 2020−34%
WP WORLDPAY INCQ1 20183 of 1148.9%10.7%4Exited by Q1 2019−7.1%
ADP AUTOMATIC DATA PROCESSING INQ1 201815 of 1487.4%7.4%2Exited by Q3 2018+18%
SE SEA LTDQ2 201926 of 2679.2%9.2%3Exited by Q1 2020+21%
FLEX FLEX LTDQ3 201914 of 1858.9%12.9%18Exited by Q1 2024+191%
UBER UBER TECHNOLOGIES INCQ4 201934 of 3667.2%7.2%12Exited by Q2 2023+6.6%
KBR KBR INCQ2 202011 of 1514.8%5.4%7Exited by Q1 2022+111%
NXT NEXTRACKER INCQ1 202313 of 1560.6%6.7%8Exited by Q3 2025+50%
FTRE FORTREA HLDGS INCQ3 20237 of 1132.9%2.9%2Exited by Q1 2024+22%

Concentration and tenure

23.0%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
93.0%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters