In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Governors Lane LP reported 34 stock positions worth $614.5 million . Its top holding was Ansys (ANSS) at 9.1% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 7.2% ) and Workday Class A (WDAY, 6.6% ). Compared with Q4 2023, it opened 13 new positions, sold out of 7, added to 13 and reduced 5. The biggest buy was Ansys (ANSS, shares +632% ) and the biggest sale an exit from Philip Morris International (PM).
Location NEW YORK, NY
CIK 0001644187
Portfolio Value $614.5M (Q1 2024) Holdings 34 stocks · $614.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 ANSS Ansys Inc. 161,700 $56.1M Add +631.7% TSM Taiwan Semiconductor-SP ADR 324,701 $44.2M Add +18.3% WDAY Workday Inc. Class A 147,705 $40.3M Add +34.3% KKR KKR & Co. Inc. 362,346 $36.4M Add +82.1% RTX RTX Corp. 325,800 $31.8M Add +79.8% BALL Ball Corp. 464,700 $31.3M Add +31.2% VTR Ventas Inc. 707,671 $30.8M Add +27.1% CRM Salesforce Inc. 83,303 $25.1M Reduce -27.4% DFS Discover Financial Services 163,400 $21.4M New BKNG Booking Holdings Inc. 5,720 $20.8M New ICE Intercontinental Exchange Inc. 144,200 $19.8M Add +250.8% ATMU Atmus Filtration Technologie 555,176 $17.9M New SIX Six Flags Entertainment Corp. 645,800 $17.0M Add +0.2% PXD Pioneer Natural Resources Co. 62,700 $16.5M Reduce -44.7% JLL Jones Lang Lasalle Inc. 82,995 $16.2M Add +8.5% AMZN Amazon.com Inc. 88,200 $15.9M Reduce -35.2% X United States Steel Corp. 386,552 $15.8M New IBKR Interactive Brokers Gro Class A 140,231 $15.7M New HXL Hexcel Corp. 198,501 $14.5M Reduce -20.6% CTVA Corteva Inc. 250,100 $14.4M New PCG P G & E Corp. 838,300 $14.0M Add +52.1% SPR Spirit Aerosystems Hold Class A 371,585 $13.4M New ETRN Equitrans Midstream Corp. 882,200 $11.0M New EMR Emerson Electric Co. 91,100 $10.3M New AGR Avangrid Inc. 280,600 $10.2M New MSFT Microsoft Corp. 24,300 $10.2M Add +86.9% CPT Camden Property Trust 103,400 $10.2M New UNH Unitedhealth Group Inc. 20,000 $9.9M Add +13.3% PTC PTC Inc. 33,571 $6.3M No change WAL Western Alliance Bancorp 82,900 $5.3M New HCP Hashicorp Inc. Class A 188,200 $5.1M New AMD Advanced Micro Devices 27,800 $5.0M Reduce -62.6% HUM Humana Inc. 4,600 $1.6M No change CALIDI BIOTHERAPEUTICS INC 94,697 $54K No change
Options reported separately and not counted above: TLT calls ($123.1M), CTVA calls ($44.8M), RTX calls ($44.1M), TSM calls ($43.5M), IBKR calls ($41.3M), AAPL calls ($36.4M), X calls ($30.6M), XBI calls ($29.9M), SHEL calls ($28.5M), EMR calls ($23.4M), VTR calls ($20.2M), KRE calls ($18.1M), and 9 more.
Other holdings (2): bonds, preferreds, convertibles and warrants · $8.3M (not counted above) Total filed on the 13F, all lines: $622.8M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ PM Philip Morris International Sold out 0.00% −5.79 CERE Cerevel Therapeutics Holding Sold out 0.00% −4.00 PXD Pioneer Natural Resources Co. Reduce -44.7% 2.68% −3.92 CRM Salesforce Inc. Reduce -27.4% 4.08% −3.74 TMUS T-Mobile US Inc. Sold out 0.00% −2.99 AMZN Amazon.com Inc. Reduce -35.2% 2.59% −2.76 HXL Hexcel Corp. Reduce -20.6% 2.35% −2.42 AMD Advanced Micro Devices Reduce -62.6% 0.82% −2.02 D Dominion Energy Inc. Sold out 0.00% −1.94 ACI Albertsons Cos Inc. Class A Sold out 0.00% −1.22 PGTI PGT Innovations Inc. Sold out 0.00% −0.93 RCAC Revelstone Capital Acquisi-A Sold out 0.00% −0.12
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ ANSS Ansys Inc. Add +631.7% 9.14% +7.06 DFS Discover Financial Services New 3.49% +3.49 BKNG Booking Holdings Inc. New 3.38% +3.38 ATMU Atmus Filtration Technologie New 2.91% +2.91 X United States Steel Corp. New 2.57% +2.57 IBKR Interactive Brokers Gro Class A New 2.55% +2.55 CTVA Corteva Inc. New 2.35% +2.35 SPR Spirit Aerosystems Hold Class A New 2.18% +2.18 ICE Intercontinental Exchange Inc. Add +250.8% 3.22% +1.86 ETRN Equitrans Midstream Corp. New 1.79% +1.79 EMR Emerson Electric Co. New 1.68% +1.68 KKR KKR & Co. Inc. Add +82.1% 5.93% +1.66 AGR Avangrid Inc. New 1.66% +1.66 CPT Camden Property Trust New 1.66% +1.66 RTX RTX Corp. Add +79.8% 5.17% +1.22 WAL Western Alliance Bancorp New 0.87% +0.87 HCP Hashicorp Inc. Class A New 0.83% +0.83 MSFT Microsoft Corp. Add +86.9% 1.66% +0.40 BALL Ball Corp. Add +31.2% 5.09% −0.18 TSM Taiwan Semiconductor-SP ADR Add +18.3% 7.19% −0.20 PCG P G & E Corp. Add +52.1% 2.29% −0.29 UNH Unitedhealth Group Inc. Add +13.3% 1.61% −0.80 JLL Jones Lang Lasalle Inc. Add +8.5% 2.63% −1.10 WDAY Workday Inc. Class A Add +34.3% 6.56% −1.31 SIX Six Flags Entertainment Corp. Add +0.2% 2.77% −1.42 VTR Ventas Inc. Add +27.1% 5.01% −2.17
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ TLT iShares 20+ Year Treasury BD call New 1,301,500 $123.1M DHR Danaher Corp. call Sold out 228,000 $52.7Mbefore exit CTVA Corteva Inc. call Add +59.3% 777,500 $44.8M RTX RTX Corp. call Reduce -28.3% 452,000 $44.1M TSM Taiwan Semiconductor-SP ADR call Reduce -45.1% 320,000 $43.5M SPY SS SPDR S&P 500 ETF Trust-US put Sold out 87,000 $41.4Mbefore exit IBKR Interactive Brokers Gro Class A call New 370,000 $41.3M AAPL Apple Inc. call New 212,500 $36.4M BWA Borgwarner Inc. call Sold out 895,000 $32.1Mbefore exit X United States Steel Corp. call New 750,000 $30.6M XBI SS SPDR S&P Biotech ETF call Add +29.6% 315,000 $29.9M SHEL Shell PLC-ADR call Reduce -58.9% 425,000 $28.5M TSLA Tesla Inc. put Sold out 95,000 $23.6Mbefore exit EMR Emerson Electric Co. call New 206,000 $23.4M HUM Humana Inc. call Sold out 50,500 $23.1Mbefore exit VTR Ventas Inc. call Add +47.6% 465,000 $20.2M PANW Palo Alto Networks Inc. put Sold out 67,500 $19.9Mbefore exit CZR Caesars Entertainment Inc. call Sold out 410,000 $19.2Mbefore exit KRE SS SPDR S&P Regional Bank call New 360,000 $18.1M AMD Advanced Micro Devices call Reduce -49.1% 98,000 $17.7M AMAT Applied Materials Inc. put Sold out 102,500 $16.6Mbefore exit SPR Spirit Aerosystems Hold Class A call Sold out 500,000 $15.9Mbefore exit BALL Ball Corp. call Sold out 275,000 $15.8Mbefore exit ATMU Atmus Filtration Technologie call New 457,200 $14.7M GOOGL Alphabet Inc. Class A call New 92,000 $13.9M ONON On Holding AG Class A put Sold out 470,000 $12.7Mbefore exit ADSK Autodesk Inc. call Sold out 47,500 $11.6Mbefore exit KKR KKR & Co. Inc. call Reduce -51.2% 105,000 $10.6M BAX Baxter International Inc. call Sold out 267,500 $10.3Mbefore exit D Dominion Energy Inc. call Sold out 159,500 $7.5Mbefore exit UMC United Microelectron-SP ADR put Reduce -12.4% 810,000 $6.6M KVUE Kenvue Inc. call Sold out 285,000 $6.1Mbefore exit SIX Six Flags Entertainment Corp. call New 92,500 $2.4M Z Zillow Group Inc. Class C put New 47,500 $2.3M RXT Rackspace Technology Inc. put Add +18.9% 1,257,500 $2.0M JLL Jones Lang Lasalle Inc. call New 1,200 $234K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 125 $992.8M NSC, TXNM, WBD, EA, SHW Q1 2026 110 $797.2M NSC, WBD, EA, JHG, TXNM Q4 2025 114 $1.1B WBD, NSC, TXNM, EA, TSM Q3 2025 94 $715.5M NSC, TXNM, VTR, BAC, TSM Q2 2025 84 $723.9M GMS, UBS, AMZN, KKR, JLL Q1 2025 39 $449.2M ITCI, HES, DFS, TSM, VTR Q4 2024 35 $649.7M DFS, AMZN, VTR, K, HES Q3 2024 33 $621.9M TSM, AMD, KKR, VTR, DFS Q2 2024 34 $628.7M ANSS, TSM, KKR, VTR, WDAY Q1 2024 34 $614.5M ANSS, TSM, WDAY, KKR, RTX