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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
+5.05%
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
$13.7B
AUM Growth
-$475M
(-3.4%)
Cap. Flow
-$827M
Cap. Flow
% of AUM
-6.05%
Top 10 Holdings %
Top 10 Hldgs %
63.23%
Holding
144
New
53
Increased
24
Reduced
28
Closed
24
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$583M |
| 2 |
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
|
+$309M |
| 3 |
NXP Semiconductors
NXPI
|
+$269M |
| 4 |
ESRX
Express Scripts Holding Company
ESRX
|
+$177M |
| 5 |
SHPG
Shire pic
SHPG
|
+$146M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$1.45B |
| 2 |
TWX
Time Warner Inc
TWX
|
+$582M |
| 3 |
MSCC
Microsemi Corp
MSCC
|
+$239M |
| 4 |
OA
Orbital ATK, Inc.
OA
|
+$233M |
| 5 |
Qualcomm
QCOM
|
+$230M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.61% |
| 2 | Healthcare | 7.44% |
| 3 | Communication Services | 6.87% |
| 4 | Financials | 6.52% |
| 5 | Materials | 2.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
CALL
Qualcomm
QCOM
$155B
| $91.4M | 0.67% |
1,628,300
-560,000
| -26% | -$31.3M |
|
27
PUT
Invesco QQQ Trust
QQQ
$461B
| $85.8M | 0.63% |
500,000
+150,000
| +43% | +$25.2M |
|
28
State Street SPDR S&P 500 ETF Trust
SPY
$795B
| $85.5M | 0.62% |
315,000
+253,000
| +408% | +$68.3M |
|
29
CALL
Synchrony
SYF
$24.7B
| $78.8M | 0.58% |
2,361,700
+40,000
| +2% | +$1.37M |
|
30
PUT
Walt Disney
DIS
$167B
| $78.6M | 0.57% |
+750,000
| New | +$76.7M |
|
|
TRCO
31
PUT
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $76.7M | 0.56% |
+2,003,100
| New | +$75.9M |
|
|
TFCF
32
PUT
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $75.4M | 0.55% |
+1,530,000
| New | +$59.8M |
|
|
33
Synchrony
SYF
$24.7B
| $69.5M | 0.51% |
2,082,549
+120,000
| +6% | +$4.12M |
|
|
VMW
34
DELISTED
VMware, Inc
VMW
| $59.5M | 0.44% |
405,000
-521,501
| -56% | -$71.9M |
|
35
CALL
Cigna
CI
$73.7B
| $57.8M | 0.42% |
+340,000
| New | +$58.9M |
|
36
Avista
AVA
$3.34B
| $52.4M | 0.38% |
995,700
+131,700
| +15% | +$6.88M |
|
37
PUT
Dell
DELL
$262B
| $50.7M | 0.37% |
+2,137,943
| New | +$47.2M |
|
38
EQT Corp
EQT
$33.3B
| $46.4M | 0.34% |
1,543,080
-1,855,370
| -55% | -$51.8M |
|
|
ESRX
39
CALL
DELISTED
Express Scripts Holding Company
ESRX
| $41.7M | 0.3% |
540,000
-710,000
| -57% | -$53.3M |
|
|
LHO
40
DELISTED
LaSalle Hotel Properties
LHO
| $39.4M | 0.29% |
+1,150,000
| New | +$37.2M |
|
|
ETP
41
CALL
DELISTED
Energy Transfer Partners, L.P.
ETP
| $37.5M | 0.27% |
1,970,000
-465,400
| -19% | -$8.55M |
|
|
VMW
42
PUT
DELISTED
VMware, Inc
VMW
| $36.7M | 0.27% |
250,000
-196,200
| -44% | -$27M |
|
43
CALL
Comcast
CMCSA
$85B
| $35.3M | 0.26% |
+1,075,000
| New | +$35M |
|
44
AT&T
T
$159B
| $32.7M | 0.24% |
1,347,015
+1,318,376
| +4,603% | +$33.1M |
|
45
CALL
RTX Corp
RTX
$290B
| $30M | 0.22% |
381,360
-397,250
| -51% | -$31.1M |
|
|
46
PUT
Synchrony
SYF
$24.7B
| $29.4M | 0.21% |
879,300
| – | – |
|
|
47
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$795B
| $27.1M | 0.2% |
100,000
| – | – |
|
48
PUT
American Airlines Group
AAL
$10.1B
| $21.1M | 0.15% |
555,000
-20,000
| -3% | -$882K |
|
|
TRQ
49
CALL
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $20.4M | 0.15% |
718,270
| – | – |
|
|
SBOW
50
DELISTED
SilverBow Resources, Inc.
SBOW
| $20.4M | 0.15% |
705,974
-90,249
| -11% | -$2.65M |
|
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Pentwater Capital Management's Q2 2018 Portfolio in Review
As of Q2 2018, Pentwater Capital Management held 144 positions worth $13.7B, down 3.4% from $14.2B the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Pentwater Capital Management withdrew a net $827M in Q2 2018, closing 24 positions and reducing 28 holdings. Its most notable exit was Monsanto Co, an estimated $1.45B position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Pentwater Capital Management opened a new position in Shire pic worth $153M.
- Pentwater Capital Management's largest Q2 2018 buy was Shire pic: 905,000 shares worth $153M.
- Pentwater Capital Management added most to Altaba Inc in Q2 2018, an estimated $583M increase.
- Pentwater Capital Management's biggest Q2 2018 reduction was Dell, cutting an estimated $226M.
- Pentwater Capital Management fully exited Monsanto Co in Q2 2018, selling an estimated $1.45B.
- Pentwater Capital Management's ten largest holdings make up 63% of its $13.7B portfolio in Q2 2018.
- Pentwater Capital Management opened 53 new positions and closed 24 in Q2 2018.
- Pentwater Capital Management's portfolio value fell 3.4% quarter-over-quarter to $13.7B.
Based on Pentwater Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.