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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
+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
(-32%)
Cap. Flow
-$551M
Cap. Flow
% of AUM
-49.9%
Top 10 Holdings %
Top 10 Hldgs %
46.77%
Holding
51
New
5
Increased
4
Reduced
20
Closed
18
Top Buys
| 1 |
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 |
Bank of America
BAC
|
+$19.5M |
| 5 |
PTC
PTC
|
+$15M |
Top Sells
| 1 |
MIK
Michaels Stores, Inc
MIK
|
+$54.3M |
| 2 |
Corpay
CPAY
|
+$32.1M |
| 3 |
NRG Energy
NRG
|
+$31.2M |
| 4 |
Huntsman Corp
HUN
|
+$29.7M |
| 5 |
ATI
ATI
|
+$24.1M |
Sector Composition
| 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 | |
|---|---|---|---|---|---|---|
|
1
Corpay
CPAY
$23.9B
| $66.7M | 6.04% |
346,443
-182,475
| -34% | -$32.1M |
|
2
TransDigm Group
TDG
$67.9B
| $65.1M | 5.9% |
236,973
-62,662
| -21% | -$17M |
|
|
3
NRG Energy
NRG
$27.3B
| $61.6M | 5.58% |
2,162,397
-1,144,969
| -35% | -$31.2M |
|
4
Cognizant
CTSH
$21.2B
| $56.8M | 5.14% |
799,497
-50,816
| -6% | -$3.71M |
|
|
UPL
5
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $52.9M | 4.79% |
5,836,226
-256,017
| -4% | -$2.24M |
|
|
ATH
6
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $45.9M | 4.16% |
888,278
-273,852
| -24% | -$14M |
|
|
NXTM
7
DELISTED
NxStage Medical Inc.
NXTM
| $42.6M | 3.86% |
1,756,354
+134,288
| +8% | +$3.54M |
|
8
Acadia Healthcare
ACHC
$3.14B
| $41.9M | 3.79% |
1,283,514
-327,276
| -20% | -$11.3M |
|
9
Dycom Industries
DY
$12.3B
| $41.6M | 3.77% |
373,438
-175,812
| -32% | -$17M |
|
10
Elevance Health
ELV
$80.2B
| $41.3M | 3.74% |
183,379
-10,421
| -5% | -$2.22M |
|
|
11
Huntsman Corp
HUN
$2.07B
| $41.1M | 3.73% |
1,235,635
-970,679
| -44% | -$29.7M |
|
|
12
ATI
ATI
$25.3B
| $40.9M | 3.71% |
1,695,792
-1,011,100
| -37% | -$24.1M |
|
|
13
PTC
PTC
$14.4B
| $40M | 3.63% |
658,587
+241,595
| +58% | +$15M |
|
|
CDK
14
DELISTED
CDK Global, Inc.
CDK
| $39.5M | 3.58% |
554,103
+179,803
| +48% | +$12.1M |
|
|
ZAYO
15
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $39.3M | 3.56% |
1,068,438
+66,767
| +7% | +$2.36M |
|
16
Conduent
CNDT
$247M
| $37.3M | 3.38% |
2,306,823
-1,250,151
| -35% | -$19.6M |
|
|
17
Comcast
CMCSA
$85.2B
| $36.6M | 3.31% |
+913,562
| New | +$34.3M |
|
18
Antero Resources
AR
$10.4B
| $34.4M | 3.11% |
1,808,082
-1,243,666
| -41% | -$23.9M |
|
|
TFCFA
19
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $29.9M | 2.71% |
+866,686
| New | +$25.9M |
|
20
Cigna
CI
$74.5B
| $27M | 2.45% |
133,187
-85,613
| -39% | -$17M |
|
|
CZR
21
DELISTED
Caesars Entertainment Corporation
CZR
| $27M | 2.45% |
+2,136,087
| New | +$27.1M |
|
22
Antero Midstream
AM
$10.7B
| $25.9M | 2.35% |
1,312,610
-454,537
| -26% | -$8.45M |
|
|
ETFC
23
DELISTED
E*Trade Financial Corporation
ETFC
| $22.3M | 2.02% |
450,124
-383,768
| -46% | -$17.6M |
|
|
CISN
24
DELISTED
Cision Ltd. Ordinary Share
CISN
| $21.6M | 1.96% |
1,818,574
-17,300
| -0.9% | -$213K |
|
|
25
Bank of America
BAC
$428B
| $20.9M | 1.89% |
+706,721
| New | +$19.5M |
|
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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.