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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
+7.58%
1 Year Est. Return
+19.37%
3 Year Est. Return
+35.16%
5 Year Est. Return
+101.64%
10 Year Est. Return
–
AUM
$2.11B
AUM Growth
-$459M
(-18%)
Cap. Flow
-$570M
Cap. Flow
% of AUM
-27%
Top 10 Holdings %
Top 10 Hldgs %
43.18%
Holding
54
New
16
Increased
7
Reduced
14
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TransDigm Group
TDG
|
+$86.5M |
| 2 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$64.7M |
| 3 |
ATI
ATI
|
+$58.3M |
| 4 |
Conduent
CNDT
|
+$56.5M |
| 5 |
Cigna
CI
|
+$47.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$71.1M |
| 2 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$59.8M |
| 3 |
Cheniere Energy
LNG
|
+$54.6M |
| 4 |
Acadia Healthcare
ACHC
|
+$54.2M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$49.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.1% |
| 2 | Healthcare | 13.6% |
| 3 | Industrials | 12.22% |
| 4 | Consumer Staples | 11.42% |
| 5 | Technology | 10.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
PUT
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
| – | – |
-6,020,000
| Closed | -$311M |
|
|
LEXEA
52
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
| – | – |
-479,180
| Closed | -$19M |
|
|
ARRS
53
DELISTED
ARRIS International plc Ordinary Shares
ARRS
| – | – |
-1,983,424
| Closed | -$59.8M |
|
|
RAI
54
DELISTED
Reynolds American Inc
RAI
| – | – |
-157,340
| Closed | -$8.82M |
|
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Pennant Capital Management's Q1 2017 Portfolio in Review
As of Q1 2017, Pennant Capital Management held 54 positions worth $2.11B, down 18% from $2.57B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Pennant Capital Management withdrew a net $570M in Q1 2017, closing 12 positions and reducing 14 holdings. Its most notable exit was Procter & Gamble, an estimated $71.1M position sold in full.
By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 12% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Pennant Capital Management opened a new position in ATI worth $55.8M.
- Pennant Capital Management's largest Q1 2017 buy was ATI: 3,104,100 shares worth $55.8M.
- Pennant Capital Management added most to TransDigm Group in Q1 2017, an estimated $86.5M increase.
- Pennant Capital Management's biggest Q1 2017 reduction was Acadia Healthcare, cutting an estimated $54.2M.
- Pennant Capital Management fully exited Procter & Gamble in Q1 2017, selling an estimated $71.1M.
- Pennant Capital Management's ten largest holdings make up 43% of its $2.11B portfolio in Q1 2017.
- Pennant Capital Management opened 16 new positions and closed 12 in Q1 2017.
- Pennant Capital Management's portfolio value fell 18% quarter-over-quarter to $2.11B.
Based on Pennant Capital Management's 13F filing for Q1 2017, filed 15 May 2017.