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Pennant Capital Management Portfolio holdings
AUM
$212M
1-Year Est. Return
19.37%
This Fund
S&P 500
This Quarter
Est. Return
+8.2%
1 Year Est. Return
+19.37%
3 Year Est. Return
+35.16%
5 Year Est. Return
+101.64%
10 Year Est. Return
–
AUM
$2.86B
AUM Growth
-$1.04B
(-27%)
Cap. Flow
-$1.21B
Cap. Flow
% of AUM
-42.2%
Top 10 Holdings %
Top 10 Hldgs %
50.01%
Holding
53
New
12
Increased
4
Reduced
20
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Leidos
LDOS
|
+$85.9M |
| 2 |
Antero Resources
AR
|
+$59M |
| 3 |
Bank of America
BAC
|
+$52.3M |
| 4 |
Citizens Financial Group
CFG
|
+$52.1M |
| 5 |
Huntsman Corp
HUN
|
+$45.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CST
CST Brands, Inc.
CST
|
+$148M |
| 2 |
AGN
Allergan plc
AGN
|
+$134M |
| 3 |
LGF
Lions Gate Entertainment
LGF
|
+$99.6M |
| 4 |
Signet Jewelers
SIG
|
+$78.2M |
| 5 |
Charter Communications
CHTR
|
+$71.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 15.1% |
| 2 | Consumer Discretionary | 14.69% |
| 3 | Healthcare | 10.66% |
| 4 | Financials | 9.81% |
| 5 | Technology | 8.82% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
Molson Coors Class B
TAP
$7.86B
| $54.9M | 1.92% |
+500,000
| New | +$50.8M |
|
27
Evolent Health
EVH
$353M
| $51.7M | 1.81% |
2,101,447
+764,850
| +57% | +$17.9M |
|
28
Kinder Morgan
KMI
$69.9B
| $49.5M | 1.73% |
2,138,749
-1,654,700
| -44% | -$35.1M |
|
|
29
Huntsman Corp
HUN
$1.76B
| $47.1M | 1.65% |
+2,894,500
| New | +$45.8M |
|
|
TMH
30
DELISTED
Team Health Holdings Inc
TMH
| $41.7M | 1.46% |
1,280,660
-1,528,058
| -54% | -$56.4M |
|
31
CBRE Group
CBRE
$43B
| $31.1M | 1.09% |
+1,111,400
| New | +$31.7M |
|
|
TWNK
32
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $22.9M | 0.8% |
+2,116,700
| New | +$22.5M |
|
|
AVTA
33
DELISTED
Avantax, Inc. Common Stock
AVTA
| $13.2M | 0.46% |
1,181,474
+48,364
| +4% | +$537K |
|
34
Coty
COTY
$2.46B
| $11.8M | 0.41% |
+500,000
| New | +$13.2M |
|
35
Comscore
SCOR
$108M
| $10.7M | 0.38% |
+17,519
| New | +$9.94M |
|
36
KBR
KBR
$4.68B
| $10.2M | 0.36% |
674,000
| – | – |
|
|
NXTM
37
DELISTED
NxStage Medical Inc.
NXTM
| $9.93M | 0.35% |
+397,365
| New | +$9.26M |
|
|
USAP
38
DELISTED
Universal Stainless & Alloy
USAP
| $7.16M | 0.25% |
682,194
| – | – |
|
39
Fluor
FLR
$7.01B
| $6.47M | 0.23% |
126,100
-54,700
| -30% | -$2.82M |
|
40
BP
BP
$114B
| – | – |
-2,376,994
| Closed | -$71M |
|
|
41
Charter Communications
CHTR
$17.2B
| – | – |
-311,763
| Closed | -$71.3M |
|
42
PUT
Freeport-McMoran
FCX
$91.5B
| – | – |
-5,000,000
| Closed | -$55.7M |
|
43
PUT
Rio Tinto
RIO
$156B
| – | – |
-1,230,000
| Closed | -$38.5M |
|
|
44
Signet Jewelers
SIG
$3.69B
| – | – |
-949,109
| Closed | -$78.2M |
|
|
TMHC
45
DELISTED
Taylor Morrison
TMHC
| – | – |
-357,250
| Closed | -$5.3M |
|
|
X
46
PUT
DELISTED
US Steel
X
| – | – |
-1,000,000
| Closed | -$16.9M |
|
47
PUT
State Street SPDR S&P Metals & Mining ETF
XME
$3.94B
| – | – |
-12,500,000
| Closed | -$305M |
|
|
MON
48
CALL
DELISTED
Monsanto Co
MON
| – | – |
-500,000
| Closed | -$51.4M |
|
|
IPXL
49
DELISTED
Impax Laboratories, Inc.
IPXL
| – | – |
-1,949,569
| Closed | -$56.2M |
|
|
CST
50
DELISTED
CST Brands, Inc.
CST
| – | – |
-3,429,716
| Closed | -$148M |
|
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Pennant Capital Management's Q3 2016 Portfolio in Review
As of Q3 2016, Pennant Capital Management held 53 positions worth $2.86B, down 27% from $3.9B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Pennant Capital Management withdrew a net $1.21B in Q3 2016, closing 14 positions and reducing 20 holdings. Its most notable exit was CST Brands, Inc., an estimated $148M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 15% of assets, up from 12% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Pennant Capital Management opened a new position in Leidos worth $81.9M.
- Pennant Capital Management's largest Q3 2016 buy was Leidos: 1,892,600 shares worth $81.9M.
- Pennant Capital Management added most to Acadia Healthcare in Q3 2016, an estimated $19.8M increase.
- Pennant Capital Management's biggest Q3 2016 reduction was Allergan plc, cutting an estimated $134M.
- Pennant Capital Management fully exited CST Brands, Inc. in Q3 2016, selling an estimated $148M.
- Pennant Capital Management's ten largest holdings make up 50% of its $2.86B portfolio in Q3 2016.
- Pennant Capital Management opened 12 new positions and closed 14 in Q3 2016.
- Pennant Capital Management's portfolio value fell 27% quarter-over-quarter to $2.86B.
Based on Pennant Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.