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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
+7.71%
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
| 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
| 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
| 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 | |
|---|---|---|---|---|---|---|
1
CALL
Constellation Brands
STZ
$22.7B
| $140M | 8.58% |
700,000
| – | – |
|
|
2
NRG Energy
NRG
$27.3B
| $84.6M | 5.2% |
+3,307,366
| New | +$78.2M |
|
3
Corpay
CPAY
$23.9B
| $81.9M | 5.03% |
528,918
+2,104
| +0.4% | +$309K |
|
4
Acadia Healthcare
ACHC
$3.13B
| $76.9M | 4.73% |
1,610,790
+282,055
| +21% | +$13.7M |
|
5
TransDigm Group
TDG
$67.9B
| $76.6M | 4.71% |
299,635
+7,386
| +3% | +$2M |
|
6
ATI
ATI
$25.3B
| $64.7M | 3.97% |
2,706,892
-87,471
| -3% | -$1.73M |
|
|
ATH
7
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $62.6M | 3.84% |
1,162,130
-924,435
| -44% | -$47.8M |
|
8
Cognizant
CTSH
$21.2B
| $61.7M | 3.79% |
850,313
-224,787
| -21% | -$15.8M |
|
9
Antero Resources
AR
$10.4B
| $60.7M | 3.73% |
3,051,748
-640,756
| -17% | -$12.9M |
|
10
Huntsman Corp
HUN
$2.07B
| $60.5M | 3.72% |
2,206,314
-587,516
| -21% | -$15.7M |
|
11
PUT
Invesco QQQ Trust
QQQ
$466B
| $58.2M | 3.57% |
+400,000
| New | +$57.3M |
|
12
Conduent
CNDT
$247M
| $55.7M | 3.42% |
3,556,974
+882,427
| +33% | +$14.4M |
|
|
MIK
13
DELISTED
Michaels Stores, Inc
MIK
| $54.3M | 3.34% |
2,529,808
-1,559,852
| -38% | -$31.8M |
|
|
UPL
14
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $52.8M | 3.24% |
6,092,243
+3,515,034
| +136% | +$32.1M |
|
|
TMH
15
DELISTED
Team Health Holdings Inc
TMH
| $50.4M | 3.09% |
1,158,131
| – | – |
|
16
Dycom Industries
DY
$12.3B
| $47.2M | 2.9% |
549,250
-26,300
| -5% | -$2.22M |
|
|
NXTM
17
DELISTED
NxStage Medical Inc.
NXTM
| $44.8M | 2.75% |
1,622,066
-233,000
| -13% | -$6.21M |
|
18
Cigna
CI
$74.5B
| $40.9M | 2.51% |
218,800
-32,100
| -13% | -$5.72M |
|
19
CALL
Home Depot
HD
$338B
| $37M | 2.27% |
+226,000
| New | +$34.7M |
|
20
Elevance Health
ELV
$80.2B
| $36.8M | 2.26% |
193,800
-32,200
| -14% | -$6.13M |
|
|
ETFC
21
DELISTED
E*Trade Financial Corporation
ETFC
| $36.4M | 2.23% |
833,892
-122,900
| -13% | -$4.99M |
|
22
Antero Midstream
AM
$10.7B
| $36.2M | 2.22% |
1,767,147
-62,900
| -3% | -$1.26M |
|
|
ZAYO
23
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $34.5M | 2.12% |
1,001,671
-262,604
| -21% | -$8.71M |
|
|
XOG
24
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
| $31.4M | 1.93% |
2,042,518
-1,017,970
| -33% | -$13.1M |
|
|
CISN
25
DELISTED
Cision Ltd. Ordinary Share
CISN
| $23.9M | 1.47% |
1,835,874
-645,468
| -26% | -$7.52M |
|
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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.