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PCM
Pennant Capital Management Portfolio holdings
AUM
$212M
1-Year Est. Return
19.37%
This Fund
S&P 500
This Quarter
Est. Return
+1.65%
1 Year Est. Return
+19.37%
3 Year Est. Return
+35.16%
5 Year Est. Return
+101.64%
10 Year Est. Return
–
AUM
$3.9B
AUM Growth
+$396M
(+11%)
Cap. Flow
+$387M
Cap. Flow
% of AUM
9.94%
Top 10 Holdings %
Top 10 Hldgs %
49.16%
Holding
47
New
10
Increased
9
Reduced
21
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$155M |
| 2 |
LGF
Lions Gate Entertainment
LGF
|
+$103M |
| 3 |
Charter Communications
CHTR
|
+$67M |
| 4 |
BP
BP
|
+$64M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$31.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Middleby
MIDD
|
+$121M |
| 2 |
Marathon Petroleum
MPC
|
+$94.8M |
| 3 |
Signet Jewelers
SIG
|
+$93.3M |
| 4 |
United Airlines
UAL
|
+$89.1M |
| 5 |
Delta Air Lines
DAL
|
+$81M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.07% |
| 2 | Consumer Staples | 12.12% |
| 3 | Healthcare | 9.92% |
| 4 | Industrials | 6.56% |
| 5 | Communication Services | 6.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Kinder Morgan
KMI
$70.5B
| $71M | 1.82% |
3,793,449
-192,225
| -5% | -$3.43M |
|
27
NETSCOUT
NTCT
$2.91B
| $67.9M | 1.74% |
3,050,429
-75,450
| -2% | -$1.75M |
|
|
IPXL
28
DELISTED
Impax Laboratories, Inc.
IPXL
| $56.2M | 1.44% |
1,949,569
-133,505
| -6% | -$4.35M |
|
29
PUT
Freeport-McMoran
FCX
$91.2B
| $55.7M | 1.43% |
+5,000,000
| New | +$55.4M |
|
|
MON
30
CALL
DELISTED
Monsanto Co
MON
| $51.4M | 1.32% |
+500,000
| New | +$49.5M |
|
|
CQH
31
DELISTED
Cheniere Energy Partners LP Holdings LLC
CQH
| $50.9M | 1.31% |
2,554,861
-182,625
| -7% | -$3.54M |
|
|
MFRM
32
DELISTED
MATTRESS FIRM HLDG CORP COM STK (DE)
MFRM
| $39.3M | 1.01% |
1,170,096
-526,687
| -31% | -$19.3M |
|
33
PUT
Rio Tinto
RIO
$158B
| $38.5M | 0.99% |
+1,230,000
| New | +$36.7M |
|
34
Evolent Health
EVH
$358M
| $25.7M | 0.66% |
1,336,597
-24,550
| -2% | -$337K |
|
|
X
35
PUT
DELISTED
US Steel
X
| $16.9M | 0.43% |
+1,000,000
| New | +$16.8M |
|
|
AVTA
36
DELISTED
Avantax, Inc. Common Stock
AVTA
| $11.7M | 0.3% |
+1,133,110
| New | +$8.91M |
|
37
KBR
KBR
$4.36B
| $8.92M | 0.23% |
674,000
| – | – |
|
38
Fluor
FLR
$6.99B
| $8.91M | 0.23% |
180,800
-45,500
| -20% | -$2.37M |
|
|
USAP
39
DELISTED
Universal Stainless & Alloy
USAP
| $7.44M | 0.19% |
682,194
-21,025
| -3% | -$241K |
|
|
TMHC
40
DELISTED
Taylor Morrison
TMHC
| $5.3M | 0.14% |
357,250
-378,285
| -51% | -$5.56M |
|
|
VG
41
DELISTED
Vonage Holdings Corporation
VG
| $1.11M | 0.03% |
+181,804
| New | +$858K |
|
|
42
Delta Air Lines
DAL
$58.3B
| – | – |
-1,664,150
| Closed | -$81M |
|
|
43
Middleby
MIDD
$6.03B
| – | – |
-1,133,832
| Closed | -$121M |
|
|
44
Marathon Petroleum
MPC
$91.7B
| – | – |
-2,550,166
| Closed | -$94.8M |
|
45
Manitowoc
MTW
$497M
| – | – |
-177,050
| Closed | -$3.07M |
|
|
46
United Airlines
UAL
$40.1B
| – | – |
-1,488,100
| Closed | -$89.1M |
|
|
MON
47
DELISTED
Monsanto Co
MON
| – | – |
-700,440
| Closed | -$69.4M |
|
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Pennant Capital Management's Q2 2016 Portfolio in Review
As of Q2 2016, Pennant Capital Management held 47 positions worth $3.9B, up 11% from $3.5B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Pennant Capital Management deployed $387M of net new capital in Q2 2016, opening 10 new positions and adding to 9 existing holdings. Its largest new stake was Lions Gate Entertainment: 4,921,999 shares worth $99.6M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 21% of assets, down from 27% a quarter earlier, followed by Consumer Staples and Healthcare.
On the sell side, the largest reduction was Signet Jewelers, an estimated $93.3M trimmed.
- Pennant Capital Management's largest Q2 2016 buy was Lions Gate Entertainment: 4,921,999 shares worth $99.6M.
- Pennant Capital Management added most to Allergan plc in Q2 2016, an estimated $155M increase.
- Pennant Capital Management's biggest Q2 2016 reduction was Signet Jewelers, cutting an estimated $93.3M.
- Pennant Capital Management fully exited Middleby in Q2 2016, selling an estimated $121M.
- Pennant Capital Management's ten largest holdings make up 49% of its $3.9B portfolio in Q2 2016.
- Pennant Capital Management opened 10 new positions and closed 6 in Q2 2016.
- Pennant Capital Management's portfolio value rose 11% quarter-over-quarter to $3.9B.
Based on Pennant Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.