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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
+0.39%
1 Year Est. Return
+19.37%
3 Year Est. Return
+35.16%
5 Year Est. Return
+101.64%
10 Year Est. Return
–
AUM
$2.57B
AUM Growth
-$286M
(-10%)
Cap. Flow
-$223M
Cap. Flow
% of AUM
-8.69%
Top 10 Holdings %
Top 10 Hldgs %
50.76%
Holding
51
New
12
Increased
8
Reduced
15
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cognizant
CTSH
|
+$93.1M |
| 2 |
MIK
Michaels Stores, Inc
MIK
|
+$84.9M |
| 3 |
Procter & Gamble
PG
|
+$72M |
| 4 |
Dycom Industries
DY
|
+$60M |
| 5 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$57.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$143M |
| 2 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$117M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$91.3M |
| 4 |
Leidos
LDOS
|
+$81.9M |
| 5 |
WBC
WABCO HOLDINGS INC.
WBC
|
+$67.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 14.78% |
| 2 | Financials | 12.3% |
| 3 | Technology | 8.93% |
| 4 | Consumer Discretionary | 7.89% |
| 5 | Healthcare | 7.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
XOG
26
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
| $48.5M | 1.88% |
+2,417,779
| New | +$51.4M |
|
27
Booking.com
BKNG
$149B
| $48M | 1.87% |
818,225
-575,000
| -41% | -$34.3M |
|
28
Huntsman Corp
HUN
$1.76B
| $47.7M | 1.86% |
2,499,430
-395,070
| -14% | -$7.17M |
|
29
CBRE Group
CBRE
$43B
| $43M | 1.67% |
1,364,746
+253,346
| +23% | +$7.33M |
|
30
Evolent Health
EVH
$353M
| $40.9M | 1.59% |
2,761,721
+660,274
| +31% | +$13M |
|
|
ATH
31
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $33.6M | 1.31% |
+700,000
| New | +$32.4M |
|
32
Comscore
SCOR
$108M
| $31.4M | 1.22% |
49,714
+32,195
| +184% | +$19.4M |
|
|
TWNK
33
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $24.1M | 0.94% |
1,857,445
-259,255
| -12% | -$3.14M |
|
|
LEXEA
34
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
| $19M | 0.74% |
+479,180
| New | +$20.3M |
|
|
AVTA
35
DELISTED
Avantax, Inc. Common Stock
AVTA
| $13.1M | 0.51% |
886,474
-295,000
| -25% | -$3.98M |
|
36
KBR
KBR
$4.68B
| $11.2M | 0.44% |
674,000
| – | – |
|
|
USAP
37
DELISTED
Universal Stainless & Alloy
USAP
| $9.22M | 0.36% |
682,194
| – | – |
|
|
RAI
38
DELISTED
Reynolds American Inc
RAI
| $8.82M | 0.34% |
+157,340
| New | +$8.35M |
|
39
Coty
COTY
$2.46B
| – | – |
-500,000
| Closed | -$11.8M |
|
40
Fluor
FLR
$7.01B
| – | – |
-126,100
| Closed | -$6.47M |
|
41
Kinder Morgan
KMI
$69.9B
| – | – |
-2,138,749
| Closed | -$49.5M |
|
|
42
Leidos
LDOS
$14.9B
| – | – |
-1,892,600
| Closed | -$81.9M |
|
43
NETSCOUT
NTCT
$2.98B
| – | – |
-2,008,045
| Closed | -$58.7M |
|
44
NVR
NVR
$16.6B
| – | – |
-39,020
| Closed | -$64M |
|
45
CALL
Molson Coors Class B
TAP
$7.86B
| – | – |
-500,000
| Closed | -$54.9M |
|
|
WBT
46
DELISTED
Welbilt, Inc.
WBT
| – | – |
-3,643,662
| Closed | -$59.1M |
|
|
WBC
47
DELISTED
WABCO HOLDINGS INC.
WBC
| – | – |
-592,300
| Closed | -$67.2M |
|
|
AGN
48
CALL
DELISTED
Allergan plc
AGN
| – | – |
-1,100,000
| Closed | -$253M |
|
|
AGN
49
DELISTED
Allergan plc
AGN
| – | – |
-621,214
| Closed | -$143M |
|
|
LVNTA
50
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| – | – |
-2,946,716
| Closed | -$117M |
|
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Pennant Capital Management's Q4 2016 Portfolio in Review
As of Q4 2016, Pennant Capital Management held 51 positions worth $2.57B, down 10% from $2.86B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Pennant Capital Management withdrew a net $223M in Q4 2016, closing 13 positions and reducing 15 holdings. Its most notable exit was Allergan plc, an estimated $143M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 15% of assets, down from 15% a quarter earlier, followed by Financials and Technology.
Against the trend, Pennant Capital Management opened a new position in Cognizant worth $97.5M.
- Pennant Capital Management's largest Q4 2016 buy was Cognizant: 1,739,800 shares worth $97.5M.
- Pennant Capital Management added most to Acadia Healthcare in Q4 2016, an estimated $46.5M increase.
- Pennant Capital Management's biggest Q4 2016 reduction was Alphabet (Google) Class C, cutting an estimated $91.3M.
- Pennant Capital Management fully exited Allergan plc in Q4 2016, selling an estimated $143M.
- Pennant Capital Management's ten largest holdings make up 51% of its $2.57B portfolio in Q4 2016.
- Pennant Capital Management opened 12 new positions and closed 13 in Q4 2016.
- Pennant Capital Management's portfolio value fell 10% quarter-over-quarter to $2.57B.
Based on Pennant Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.