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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
+7.71%
1 Year Est. Return
+19.37%
3 Year Est. Return
+35.16%
5 Year Est. Return
+101.64%
10 Year Est. Return
–
AUM
$1.63B
AUM Growth
-$72.5M
(-4.3%)
Cap. Flow
-$133M
Cap. Flow
% of AUM
-8.19%
Top 10 Holdings %
Top 10 Hldgs %
47.28%
Holding
59
New
20
Increased
7
Reduced
16
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NRG Energy
NRG
|
+$78.2M |
| 2 |
UPL
Ultra Petroleum Corp. Common Stock
UPL
|
+$32.1M |
| 3 |
CDK
CDK Global, Inc.
CDK
|
+$23.6M |
| 4 |
PTC
PTC
|
+$23.1M |
| 5 |
MFGP
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
|
+$18.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Evolent Health
EVH
|
+$55.8M |
| 2 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$47.8M |
| 3 |
X
US Steel
X
|
+$35M |
| 4 |
MIK
Michaels Stores, Inc
MIK
|
+$31.8M |
| 5 |
THS
Treehouse Foods
THS
|
+$26.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.85% |
| 2 | Industrials | 13.04% |
| 3 | Healthcare | 12.25% |
| 4 | Financials | 9.32% |
| 5 | Energy | 8.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CDK
26
DELISTED
CDK Global, Inc.
CDK
| $23.6M | 1.45% |
+374,300
| New | +$23.6M |
|
|
27
PTC
PTC
$15.9B
| $23.5M | 1.44% |
+416,992
| New | +$23.1M |
|
|
SAVE
28
PUT
DELISTED
Spirit Airlines, Inc.
SAVE
| $21.7M | 1.33% |
+650,000
| New | +$26M |
|
29
CALL
Dycom Industries
DY
$12.1B
| $21.5M | 1.32% |
+250,000
| New | +$21.1M |
|
|
MFGP
30
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
| $18.1M | 1.11% |
+470,083
| New | +$18.1M |
|
|
UPL
31
CALL
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $17.3M | 1.07% |
+2,000,000
| New | +$18.3M |
|
|
FCE.A
32
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $16.7M | 1.03% |
+656,026
| New | +$16.1M |
|
|
TWNK
33
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
| $10.8M | 0.66% |
789,045
+63,400
| +9% | +$914K |
|
34
PUT
Equifax
EFX
$20.4B
| $10.6M | 0.65% |
+100,000
| New | +$13.2M |
|
35
PUT
Terex
TEX
$7.34B
| $9.9M | 0.61% |
+220,000
| New | +$8.7M |
|
|
USAP
36
DELISTED
Universal Stainless & Alloy
USAP
| $9.49M | 0.58% |
455,241
-71,953
| -14% | -$1.37M |
|
37
Goodyear
GT
$1.99B
| $8.31M | 0.51% |
+250,000
| New | +$8.12M |
|
38
CALL
NXP Semiconductors
NXPI
$59.4B
| $5.66M | 0.35% |
+50,000
| New | +$5.58M |
|
|
39
NXP Semiconductors
NXPI
$59.4B
| $5.66M | 0.35% |
+50,000
| New | +$5.58M |
|
40
APA Corp
APA
$13.1B
| $4.58M | 0.28% |
100,000
+15,899
| +19% | +$701K |
|
|
AKS
41
DELISTED
AK Steel Holding Corp
AKS
| $3.63M | 0.22% |
+650,000
| New | +$3.72M |
|
42
Ciena
CIEN
$54.4B
| $3.02M | 0.19% |
+137,400
| New | +$3.29M |
|
43
Home Depot
HD
$331B
| $2.78M | 0.17% |
+17,000
| New | +$2.61M |
|
44
Knowles
KN
$3.15B
| $794K | 0.05% |
+52,018
| New | +$799K |
|
|
FLY
45
DELISTED
Fly Leasing Limited
FLY
| $210K | 0.01% |
+15,000
| New | +$206K |
|
46
CALL
Amazon
AMZN
$2.91T
| – | – |
-1,500,000
| Closed | -$72.6M |
|
|
47
Evolent Health
EVH
$335M
| – | – |
-2,201,130
| Closed | -$55.8M |
|
48
FMC
FMC
$1.37B
| – | – |
-57,650
| Closed | -$3.65M |
|
49
Fossil Group
FOSL
$288M
| – | – |
-125,151
| Closed | -$1.29M |
|
50
CALL
Alphabet (Google) Class A
GOOGL
$4.32T
| – | – |
-1,500,000
| Closed | -$69.7M |
|
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Pennant Capital Management's Q3 2017 Portfolio in Review
As of Q3 2017, Pennant Capital Management held 59 positions worth $1.63B, down 4.3% from $1.7B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Pennant Capital Management withdrew a net $133M in Q3 2017, closing 14 positions and reducing 16 holdings. Its most notable exit was Evolent Health, an estimated $55.8M position sold in full.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 13% a quarter earlier, followed by Industrials and Healthcare.
Against the trend, Pennant Capital Management opened a new position in NRG Energy worth $84.6M.
- Pennant Capital Management's largest Q3 2017 buy was NRG Energy: 3,307,366 shares worth $84.6M.
- Pennant Capital Management added most to Ultra Petroleum Corp. Common Stock in Q3 2017, an estimated $32.1M increase.
- Pennant Capital Management's biggest Q3 2017 reduction was Athene Holding Ltd. Class A Common Shares, cutting an estimated $47.8M.
- Pennant Capital Management fully exited Evolent Health in Q3 2017, selling an estimated $55.8M.
- Pennant Capital Management's ten largest holdings make up 47% of its $1.63B portfolio in Q3 2017.
- Pennant Capital Management opened 20 new positions and closed 14 in Q3 2017.
- Pennant Capital Management's portfolio value fell 4.3% quarter-over-quarter to $1.63B.
Based on Pennant Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.