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PCM
Pentwater Capital Management Portfolio holdings
AUM
$19.3B
1-Year Est. Return
58.13%
This Fund
S&P 500
This Quarter
Est. Return
+10.59%
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
$14.1B
AUM Growth
+$3.66B
(+35%)
Cap. Flow
+$2.96B
Cap. Flow
% of AUM
21.04%
Top 10 Holdings %
Top 10 Hldgs %
54.73%
Holding
218
New
37
Increased
37
Reduced
42
Closed
71
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CFN
CAREFUSION CORPORATION
CFN
|
+$416M |
| 2 |
AGN
Allergan Inc
AGN
|
+$386M |
| 3 |
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
|
+$372M |
| 4 |
BHI
Baker Hughes
BHI
|
+$342M |
| 5 |
CBST
CUBIST PHARMACEUTICALS INC
CBST
|
+$201M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
THI
TIM HORTONS INC COM, CANADA
THI
|
+$536M |
| 2 |
Bausch Health
BHC
|
+$210M |
| 3 |
KMR
KINDER MORGAN MANAGEMENT LLC
KMR
|
+$153M |
| 4 |
Outfront Media
OUT
|
+$151M |
| 5 |
SHPG
Shire pic
SHPG
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20% |
| 2 | Technology | 7.1% |
| 3 | Consumer Discretionary | 6.67% |
| 4 | Materials | 3.2% |
| 5 | Energy | 3.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
DTV
26
PUT
DELISTED
DIRECTV COM STK (DE)
DTV
| $137M | 0.97% |
1,580,000
-550,000
| -26% | -$47.3M |
|
27
Zoetis
ZTS
$32.3B
| $137M | 0.97% |
3,180,000
-1,070,000
| -25% | -$43.4M |
|
|
28
CALL
Bausch Health
BHC
$2.62B
| $132M | 0.94% |
920,000
+40,000
| +5% | +$5.38M |
|
|
AUXL
29
DELISTED
AUXILIUM PHARAMCEUTICALS INC
AUXL
| $130M | 0.92% |
3,772,900
+3,717,900
| +6,760% | +$121M |
|
30
PUT
General Motors
GM
$79.3B
| $120M | 0.86% |
3,450,000
+300,000
| +10% | +$9.58M |
|
|
SLXP
31
PUT
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
| $103M | 0.74% |
900,000
-341,000
| -27% | -$41.3M |
|
|
BRSL
32
Brightstar Lottery PLC
BRSL
$1.86B
| $102M | 0.73% |
5,920,000
-3,030,000
| -34% | -$50.9M |
|
|
TLM
33
DELISTED
TALISMAN ENERGY INC
TLM
| $99.2M | 0.71% |
12,666,800
+9,066,800
| +252% | +$57M |
|
34
PUT
Halliburton
HAL
$26.6B
| $96.8M | 0.69% |
+2,460,000
| New | +$120M |
|
|
35
CALL
Zoetis
ZTS
$32.3B
| $90.4M | 0.64% |
2,100,000
+500,000
| +31% | +$20.3M |
|
|
DRII
36
DELISTED
DIAMOND RESORTS INTL, INC
DRII
| $87.9M | 0.63% |
3,150,000
-35,000
| -1% | -$862K |
|
|
37
CALL
General Motors
GM
$79.3B
| $87.3M | 0.62% |
2,500,000
+2,120,000
| +558% | +$67.7M |
|
|
PETM
38
DELISTED
PETSMART INC
PETM
| $81.3M | 0.58% |
1,000,000
+700,000
| +233% | +$51.8M |
|
39
CALL
American Airlines Group
AAL
$10.6B
| $79.4M | 0.56% |
1,480,000
+320,000
| +28% | +$13.8M |
|
|
40
PUT
Zoetis
ZTS
$32.3B
| $77.5M | 0.55% |
1,800,000
| – | – |
|
41
CALL
Comcast
CMCSA
$87.2B
| $75.4M | 0.54% |
+2,600,000
| New | +$71.2M |
|
|
CBST
42
PUT
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
| $68.8M | 0.49% |
+683,500
| New | +$53.1M |
|
|
43
PUT
American Airlines Group
AAL
$10.6B
| $64.4M | 0.46% |
+1,200,000
| New | +$51.7M |
|
44
CALL
AstraZeneca
AZN
$245B
| $64M | 0.46% |
910,000
-840,000
| -48% | -$60.1M |
|
|
PARAA
45
PUT
DELISTED
Paramount Global Class A
PARAA
| $63.1M | 0.45% |
1,140,000
-130,000
| -10% | -$6.98M |
|
|
ESPR
46
DELISTED
Esperion Therapeutics
ESPR
| $59.4M | 0.42% |
1,470,000
+480,000
| +48% | +$14.7M |
|
|
NPSP
47
DELISTED
NPS PHARMACEUTICALS INC
NPSP
| $56.5M | 0.4% |
1,580,000
+181,800
| +13% | +$5.43M |
|
48
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $45.6M | 0.32% |
221,750
+27,750
| +14% | +$5.58M |
|
|
CQB
49
DELISTED
CHIQUITA BRANDS INTL (NEW)
CQB
| $42.6M | 0.3% |
2,945,295
+82,595
| +3% | +$1.18M |
|
|
CZR
50
DELISTED
Caesars Entertainment Corporation
CZR
| $37.3M | 0.27% |
2,379,200
+2,179,200
| +1,090% | +$29.2M |
|
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Pentwater Capital Management's Q4 2014 Portfolio in Review
As of Q4 2014, Pentwater Capital Management held 218 positions worth $14.1B, up 35% from $10.4B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Pentwater Capital Management deployed $2.96B of net new capital in Q4 2014, opening 37 new positions and adding to 37 existing holdings. Its largest new stake was CAREFUSION CORPORATION: 7,250,000 shares worth $430M.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, up from 16% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Outfront Media, an estimated $151M trimmed.
- Pentwater Capital Management's largest Q4 2014 buy was CAREFUSION CORPORATION: 7,250,000 shares worth $430M.
- Pentwater Capital Management added most to Allergan Inc in Q4 2014, an estimated $386M increase.
- Pentwater Capital Management's biggest Q4 2014 reduction was Outfront Media, cutting an estimated $151M.
- Pentwater Capital Management fully exited TIM HORTONS INC COM, CANADA in Q4 2014, selling an estimated $536M.
- Pentwater Capital Management's ten largest holdings make up 55% of its $14.1B portfolio in Q4 2014.
- Pentwater Capital Management opened 37 new positions and closed 71 in Q4 2014.
- Pentwater Capital Management's portfolio value rose 35% quarter-over-quarter to $14.1B.
Based on Pentwater Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.