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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
+7.58%
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
| 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
| 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
| 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 | |
|---|---|---|---|---|---|---|
|
1
TransDigm Group
TDG
$67.9B
| $123M | 5.83% |
559,149
+362,500
| +184% | +$86.5M |
|
2
CALL
Constellation Brands
STZ
$22.7B
| $113M | 5.37% |
+700,000
| New | +$109M |
|
|
ATH
3
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $100M | 4.75% |
2,004,275
+1,304,275
| +186% | +$64.7M |
|
4
Molson Coors Class B
TAP
$7.68B
| $99.5M | 4.71% |
1,039,625
-404,500
| -28% | -$39.5M |
|
5
PUT
Cognizant
CTSH
$21.2B
| $89.3M | 4.23% |
+1,500,000
| New | +$86.2M |
|
6
Antero Resources
AR
$10.4B
| $82.8M | 3.92% |
3,629,205
+975,965
| +37% | +$23.9M |
|
|
7
Acadia Healthcare
ACHC
$3.17B
| $81.8M | 3.87% |
1,875,174
-1,334,888
| -42% | -$54.2M |
|
|
8
Cognizant
CTSH
$21.2B
| $75.2M | 3.56% |
1,263,100
-476,700
| -27% | -$27.4M |
|
9
Corpay
CPAY
$23.9B
| $74.3M | 3.52% |
490,564
-220,300
| -31% | -$34.5M |
|
|
10
Constellation Brands
STZ
$22.7B
| $72.1M | 3.42% |
444,996
+117,400
| +36% | +$18.3M |
|
|
ETFC
11
DELISTED
E*Trade Financial Corporation
ETFC
| $69.3M | 3.28% |
1,986,092
-94,600
| -5% | -$3.39M |
|
12
Dycom Industries
DY
$12.2B
| $68.9M | 3.26% |
741,550
| – | – |
|
13
PayPal
PYPL
$49.9B
| $67.5M | 3.2% |
1,568,961
-355,600
| -18% | -$14.9M |
|
|
MIK
14
DELISTED
Michaels Stores, Inc
MIK
| $64.5M | 3.06% |
2,881,959
-772,162
| -21% | -$16.2M |
|
|
XOG
15
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
| $64.3M | 3.04% |
3,464,361
+1,046,582
| +43% | +$18.8M |
|
16
Bank of America
BAC
$430B
| $63.5M | 3.01% |
2,690,500
-551,400
| -17% | -$13.1M |
|
17
Evolent Health
EVH
$654M
| $63.4M | 3% |
2,843,021
+81,300
| +3% | +$1.56M |
|
18
Huntsman Corp
HUN
$2.07B
| $62.8M | 2.98% |
2,559,430
+60,000
| +2% | +$1.29M |
|
|
19
Conduent
CNDT
$251M
| $62.3M | 2.95% |
+3,715,045
| New | +$56.5M |
|
|
20
ATI
ATI
$25.4B
| $55.8M | 2.64% |
+3,104,100
| New | +$58.3M |
|
|
NXTM
21
DELISTED
NxStage Medical Inc.
NXTM
| $51.7M | 2.45% |
1,927,408
| – | – |
|
|
TMH
22
DELISTED
Team Health Holdings Inc
TMH
| $50.4M | 2.39% |
1,158,131
| – | – |
|
|
23
Cigna
CI
$74.5B
| $47.2M | 2.24% |
+322,500
| New | +$47.5M |
|
|
24
CALL
TransDigm Group
TDG
$67.9B
| $44M | 2.09% |
+200,000
| New | +$47.7M |
|
25
Humana
HUM
$48B
| $42.9M | 2.03% |
+208,300
| New | +$43.1M |
|
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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.