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Pentwater Capital Management Portfolio holdings

AUM $19.3B
1-Year Est. Return 58.13%
This Fund
S&P 500
This Quarter Est. Return
+9.83%
1 Year Est. Return
+58.13%
3 Year Est. Return
+179.76%
5 Year Est. Return
+629.27%
10 Year Est. Return
+5,046.05%
AUM
$3.47B
AUM Growth
-$139M
Cap. Flow
-$489M
Cap. Flow %
-14.07%
Top 10 Hldgs %
53.08%
Holding
162
New
44
Increased
30
Reduced
20
Closed
45

Top Buys

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$274M
2
TRQ
Turquoise Hill Resources Ltd
TRQ
+$110M
3
AAL icon
American Airlines Group
AAL
+$80.9M
4
VPHM
VIROPHARMA INC
VPHM
+$70.9M
5
TRQ.RT
TURQUOISE HILL RES LTD RTS EXP 01/07/2014 (DE)
TRQ.RT
+$63.2M

Top Sells

Rank Stock Value
1
DELL
DELL INC
DELL
+$331M
2
LIFE
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
+$128M
3
ELN
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
+$116M
4
SPRD
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
+$105M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$86.7M

Sector Composition

Rank Sector Weight
1 Materials 9.42%
2 Communication Services 9.31%
3 Healthcare 8.47%
4 Industrials 6.99%
5 Consumer Discretionary 2.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CQB
26
DELISTED
CHIQUITA BRANDS INTL (NEW)
CQB
$30.3M 0.87%
2,592,318
+934,618
+56% +$10.3M
VPHM
27
PUT
DELISTED
VIROPHARMA INC
VPHM
$29.9M 0.86%
600,000
+60,000
+11% +$2.68M
HLF icon
28
CALL
Herbalife
HLF
$1.32B
$29.9M 0.86%
760,000
– –
STZ icon
29
PUT
Constellation Brands
STZ
$22.4B
$26.7M 0.77%
380,000
– –
MW
30
CALL
DELISTED
THE MENS WAREHOUSE INC
MW
$26.6M 0.76%
+520,000
New +$24.2M
S
31
CALL
DELISTED
Sprint Corporation
S
$25.8M 0.74%
+2,400,000
New +$18.1M
YONG
32
DELISTED
YONGYE INTERNATIONAL, INC. COMMON STOCK
YONG
$25.6M 0.74%
4,000,000
+2,000,000
+100% +$12.7M
HTWR
33
DELISTED
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
$25M 0.72%
266,000
-94,000
-26% -$7.95M
SIX
34
DELISTED
Six Flags Entertainment Corp.
SIX
$24.3M 0.7%
659,900
-325,100
-33% -$11.7M
RDA
35
DELISTED
RDA MICROELECTRONICS INC SPONSORED ADR
RDA
$22.2M 0.64%
+1,241,407
New +$20.6M
MW
36
PUT
DELISTED
THE MENS WAREHOUSE INC
MW
$21.5M 0.62%
+420,000
New +$19.6M
HLF icon
37
PUT
Herbalife
HLF
$1.32B
$19.7M 0.57%
500,000
-120,000
-19% -$4.16M
ZTS icon
38
PUT
Zoetis
ZTS
$32.3B
$19.6M 0.56%
600,000
– –
WLT
39
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$19.5M 0.56%
1,170,010
+127,500
+12% +$1.99M
LNCO
40
DELISTED
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
$18.3M 0.53%
+595,228
New +$18.2M
WLT
41
PUT
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$16.8M 0.48%
1,010,000
+130,000
+15% +$2.03M
CBI
42
PUT
DELISTED
Chicago Bridge & Iron Nv
CBI
$16.6M 0.48%
199,900
– –
JPM icon
43
JPMorgan Chase
JPM
$937B
$15.3M 0.44%
262,196
-274,566
-51% -$15M
DRII
44
DELISTED
DIAMOND RESORTS INTL, INC
DRII
$14.9M 0.43%
804,591
+502,391
+166% +$9.01M
BEAM
45
CALL
DELISTED
BEAM INC COM STK (DE)
BEAM
$13.6M 0.39%
+200,000
New +$13.5M
GA
46
DELISTED
GIANT INTERACTIVE GROUP INC ADR (CAYMAN ISLANDS)
GA
$13.5M 0.39%
+1,200,000
New +$11.9M
JNY
47
DELISTED
JONES GROUP INC COM STK (PA)
JNY
$13.2M 0.38%
+885,000
New +$12.8M
WLT
48
CALL
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$13.1M 0.38%
785,000
– –
ASIA
49
DELISTED
ASIAINFO-LINKAGE INC COM STK (DE)
ASIA
$12.3M 0.35%
1,030,000
+490,000
+91% +$5.73M
CTB
50
PUT
DELISTED
Cooper Tire & Rubber Co.
CTB
$12.3M 0.35%
510,000
+110,000
+28% +$2.72M
1
2
3 4 5

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MIM
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Pentwater Capital Management's Q4 2013 Portfolio in Review

As of Q4 2013, Pentwater Capital Management held 162 positions worth $3.47B, down 3.8% from $3.61B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Pentwater Capital Management withdrew a net $489M in Q4 2013, closing 45 positions and reducing 20 holdings. Its most notable exit was DELL INC, an estimated $331M position sold in full.

By sector, the portfolio is most concentrated in Materials at 9.4% of assets, up from 6.1% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Pentwater Capital Management opened a new position in TIME WARNER CABLE INC NEW COM STK worth $299M.

  • Pentwater Capital Management's largest Q4 2013 buy was TIME WARNER CABLE INC NEW COM STK: 2,205,000 shares worth $299M.
  • Pentwater Capital Management added most to Turquoise Hill Resources Ltd in Q4 2013, an estimated $110M increase.
  • Pentwater Capital Management's biggest Q4 2013 reduction was LIFE TECHNOLOGIES CORP COM STK (DE), cutting an estimated $128M.
  • Pentwater Capital Management fully exited DELL INC in Q4 2013, selling an estimated $331M.
  • Pentwater Capital Management's ten largest holdings make up 53% of its $3.47B portfolio in Q4 2013.
  • Pentwater Capital Management opened 44 new positions and closed 45 in Q4 2013.
  • Pentwater Capital Management's portfolio value fell 3.8% quarter-over-quarter to $3.47B.

Based on Pentwater Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.