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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
+3.48%
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
$3.75B
AUM Growth
+$273M
Cap. Flow
+$163M
Cap. Flow %
4.35%
Top 10 Hldgs %
63.25%
Holding
164
New
47
Increased
29
Reduced
28
Closed
41

Top Buys

Rank Stock Value
1
TRQ
Turquoise Hill Resources Ltd
TRQ
+$166M
2
BEAM
BEAM INC COM STK (DE)
BEAM
+$133M
3
VOD icon
Vodafone
VOD
+$116M
4
CMCSA icon
Comcast
CMCSA
+$80.3M
5
JOSB
JOS A BANK CLOTHIERS INC
JOSB
+$78.9M

Top Sells

Rank Stock Value
1
VPHM
VIROPHARMA INC
VPHM
+$141M
2
LPS
LENDER PROCESSING SERVICES INC
LPS
+$140M
3
HMA
HEALTH MGMT ASSOC INC CL-A
HMA
+$104M
4
AAL icon
American Airlines Group
AAL
+$103M
5
LIFE
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
+$75.8M

Sector Composition

Rank Sector Weight
1 Communication Services 14.35%
2 Materials 13.19%
3 Healthcare 5.88%
4 Consumer Staples 5.16%
5 Consumer Discretionary 4.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VOD icon
26
PUT
Vodafone
VOD
$36.3B
$25.8M 0.69%
702,000
+603,900
+616% +$23.3M
HTWR
27
DELISTED
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
$19.4M 0.52%
207,000
-59,000
-22% -$5.74M
GA
28
DELISTED
GIANT INTERACTIVE GROUP INC ADR (CAYMAN ISLANDS)
GA
$17.4M 0.46%
1,500,000
+300,000
+25% +$3.37M
BEAM
29
PUT
DELISTED
BEAM INC COM STK (DE)
BEAM
$16.7M 0.44%
+200,000
New +$16.3M
TWX
30
CALL
DELISTED
Time Warner Inc
TWX
$16.5M 0.44%
125,160
-166,880
-57% -$10.5M
VZ icon
31
PUT
Verizon
VZ
$195B
$16.1M 0.43%
+338,000
New +$16M
JPM icon
32
JPMorgan Chase
JPM
$950B
$16M 0.43%
264,096
+1,900
+0.7% +$110K
DAR icon
33
Darling Ingredients
DAR
$9.56B
$15.6M 0.42%
780,000
+360,000
+86% +$7.22M
KYTH
34
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
$15.5M 0.41%
+390,000
New +$17.4M
ISBC
35
DELISTED
Investors Bancorp, Inc.
ISBC
$14.9M 0.4%
+1,377,225
New +$14.1M
CSTM icon
36
Constellium
CSTM
$4.02B
$14M 0.37%
477,813
+377,813
+378% +$9.89M
ESPR
37
DELISTED
Esperion Therapeutics
ESPR
$13.4M 0.36%
886,224
+244,324
+38% +$3.79M
JNY
38
DELISTED
JONES GROUP INC COM STK (PA)
JNY
$13.2M 0.35%
885,000
– –
BRSS
39
DELISTED
Global Brass & Copper Hldgs, Inc
BRSS
$12.6M 0.34%
800,000
+401,600
+101% +$6.77M
TOWR
40
DELISTED
Tower International, Inc.
TOWR
$12.2M 0.33%
450,000
-20,000
-4% -$490K
DTV
41
CALL
DELISTED
DIRECTV COM STK (DE)
DTV
$12.2M 0.33%
+160,000
New +$11.7M
YONG
42
DELISTED
YONGYE INTERNATIONAL, INC. COMMON STOCK
YONG
$11.6M 0.31%
1,700,000
-2,300,000
-58% -$14.7M
ENDP
43
PUT
DELISTED
Endo International plc
ENDP
$11M 0.29%
160,000
– –
AAPL icon
44
PUT
Apple
AAPL
$4.52T
$10.7M 0.29%
+560,000
New +$10.7M
MTB icon
45
M&T Bank
MTB
$36.7B
$10.2M 0.27%
84,000
– –
SGM
46
DELISTED
Stonegate Mortgage Corporation
SGM
$8.98M 0.24%
604,543
+563,375
+1,368% +$8.55M
LIND icon
47
Lindblad Expeditions
LIND
$2.24B
$8.87M 0.24%
900,100
– –
WLT
48
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$8.62M 0.23%
1,140,010
-30,000
-3% -$330K
JPM icon
49
PUT
JPMorgan Chase
JPM
$950B
$8.5M 0.23%
140,000
-1,620,000
-92% -$93.6M
WLT
50
PUT
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$8.24M 0.22%
1,090,000
+80,000
+8% +$880K
1
2
3 4 5

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MIM
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Pentwater Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Pentwater Capital Management held 164 positions worth $3.75B, up 7.9% from $3.47B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Pentwater Capital Management deployed $163M of net new capital in Q1 2014, opening 47 new positions and adding to 29 existing holdings. Its largest new stake was Vodafone: 3,000,000 shares worth $110M.

By sector, the portfolio is most concentrated in Communication Services at 14% of assets, up from 9.3% a quarter earlier, followed by Materials and Healthcare.

On the sell side, the largest reduction was American Airlines Group, an estimated $103M trimmed.

  • Pentwater Capital Management's largest Q1 2014 buy was Vodafone: 3,000,000 shares worth $110M.
  • Pentwater Capital Management added most to Turquoise Hill Resources Ltd in Q1 2014, an estimated $166M increase.
  • Pentwater Capital Management's biggest Q1 2014 reduction was American Airlines Group, cutting an estimated $103M.
  • Pentwater Capital Management fully exited VIROPHARMA INC in Q1 2014, selling an estimated $141M.
  • Pentwater Capital Management's ten largest holdings make up 63% of its $3.75B portfolio in Q1 2014.
  • Pentwater Capital Management opened 47 new positions and closed 41 in Q1 2014.
  • Pentwater Capital Management's portfolio value rose 7.9% quarter-over-quarter to $3.75B.

Based on Pentwater Capital Management's 13F filing for Q1 2014, filed 15 May 2014.