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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
+5.81%
1 Year Est. Return
+19.37%
3 Year Est. Return
+35.16%
5 Year Est. Return
+101.64%
10 Year Est. Return
–
AUM
$1.1B
AUM Growth
-$524M
Cap. Flow
-$551M
Cap. Flow %
-49.9%
Top 10 Hldgs %
46.77%
Holding
51
New
5
Increased
4
Reduced
20
Closed
18

Top Buys

Rank Stock Value
1
CMCSA icon
Comcast
CMCSA
+$34.3M
2
CZR
Caesars Entertainment Corporation
CZR
+$27.1M
3
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$25.9M
4
BAC icon
Bank of America
BAC
+$19.5M
5
PTC icon
PTC
PTC
+$15M

Top Sells

Rank Stock Value
1
MIK
Michaels Stores, Inc
MIK
+$54.3M
2
CPAY icon
Corpay
CPAY
+$32.1M
3
NRG icon
NRG Energy
NRG
+$31.2M
4
HUN icon
Huntsman Corp
HUN
+$29.7M
5
ATI icon
ATI
ATI
+$24.1M

Sector Composition

Rank Sector Weight
1 Technology 20.78%
2 Industrials 16.95%
3 Healthcare 13.84%
4 Financials 13.58%
5 Energy 7.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XOG
26
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
$20.8M 1.88%
1,452,841
-589,677
-29% -$9M
UPL
27
CALL
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$18.1M 1.64%
2,000,000
– –
TEX icon
28
PUT
Terex
TEX
$7.34B
$10.6M 0.96%
220,000
– –
USAP
29
DELISTED
Universal Stainless & Alloy
USAP
$8.48M 0.77%
396,084
-59,157
-13% -$1.24M
FG
30
DELISTED
FGL Holdings Ordinary Shares
FG
$7.88M 0.71%
+782,660
New +$8.02M
MFGP
31
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
$7.05M 0.64%
173,418
-296,665
-63% -$12M
TMH
32
DELISTED
Team Health Holdings Inc
TMH
$5.37M 0.49%
1,158,131
– –
APA icon
33
APA Corp
APA
$13.1B
– –
-100,000
Closed -$4.58M
CIEN icon
34
Ciena
CIEN
$54.5B
– –
-137,400
Closed -$3.02M
DY icon
35
CALL
Dycom Industries
DY
$12.1B
– –
-250,000
Closed -$21.5M
EFX icon
36
PUT
Equifax
EFX
$20.4B
– –
-100,000
Closed -$10.6M
GT icon
37
Goodyear
GT
$1.99B
– –
-250,000
Closed -$8.31M
HD icon
38
CALL
Home Depot
HD
$331B
– –
-226,000
Closed -$37M
HD icon
39
Home Depot
HD
$331B
– –
-17,000
Closed -$2.78M
KN icon
40
Knowles
KN
$3.15B
– –
-52,018
Closed -$794K
NXPI icon
41
CALL
NXP Semiconductors
NXPI
$59.6B
– –
-50,000
Closed -$5.66M
NXPI icon
42
NXP Semiconductors
NXPI
$59.6B
– –
-50,000
Closed -$5.66M
QQQ icon
43
PUT
Invesco QQQ Trust
QQQ
$454B
– –
-400,000
Closed -$58.2M
STZ icon
44
CALL
Constellation Brands
STZ
$22.1B
– –
-700,000
Closed -$140M
SAVE
45
PUT
DELISTED
Spirit Airlines, Inc.
SAVE
– –
-650,000
Closed -$21.7M
TWNK
46
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
– –
-789,045
Closed -$10.8M
MIK
47
DELISTED
Michaels Stores, Inc
MIK
– –
-2,529,808
Closed -$54.3M
AKS
48
DELISTED
AK Steel Holding Corp
AKS
– –
-650,000
Closed -$3.63M
FCE.A
49
DELISTED
Forest City Realty Trust, Inc.
FCE.A
– –
-656,026
Closed -$16.7M
FLY
50
DELISTED
Fly Leasing Limited
FLY
– –
-15,000
Closed -$210K
1
2

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Pennant Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Pennant Capital Management held 51 positions worth $1.1B, down 32% from $1.63B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Pennant Capital Management withdrew a net $551M in Q4 2017, closing 18 positions and reducing 20 holdings. Its most notable exit was Michaels Stores, Inc, an estimated $54.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 17% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Pennant Capital Management opened a new position in Comcast worth $36.6M.

  • Pennant Capital Management's largest Q4 2017 buy was Comcast: 913,562 shares worth $36.6M.
  • Pennant Capital Management added most to PTC in Q4 2017, an estimated $15M increase.
  • Pennant Capital Management's biggest Q4 2017 reduction was Corpay, cutting an estimated $32.1M.
  • Pennant Capital Management fully exited Michaels Stores, Inc in Q4 2017, selling an estimated $54.3M.
  • Pennant Capital Management's ten largest holdings make up 47% of its $1.1B portfolio in Q4 2017.
  • Pennant Capital Management opened 5 new positions and closed 18 in Q4 2017.
  • Pennant Capital Management's portfolio value fell 32% quarter-over-quarter to $1.1B.

Based on Pennant Capital Management's 13F filing for Q4 2017, filed 15 Feb 2018.