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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
+21.84%
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
$6.11B
AUM Growth
-$283M
Cap. Flow
-$874M
Cap. Flow %
-14.3%
Top 10 Hldgs %
62.65%
Holding
207
New
52
Increased
29
Reduced
48
Closed
56

Top Buys

Rank Stock Value
1
AMTD
TD Ameritrade Holding Corp
AMTD
+$221M
2
TIF
Tiffany & Co.
TIF
+$170M
3
PCG icon
PG&E
PCG
+$105M
4
BMY.RT
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
+$92.5M
5
BA icon
Boeing
BA
+$91.4M

Top Sells

Rank Stock Value
1
CELG
Celgene Corp
CELG
+$615M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$363M
3
ONCE
Spark Therapeutics, Inc. Common Stock
ONCE
+$204M
4
WCG
Wellcare Health Plans, Inc.
WCG
+$122M
5
ADSW
Advanced Disposal Services Inc
ADSW
+$77.1M

Sector Composition

Rank Sector Weight
1 Technology 8.69%
2 Financials 4.76%
3 Healthcare 4.33%
4 Utilities 3.73%
5 Industrials 3.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACHN
26
DELISTED
Achillion Pharmaceuticals
ACHN
$45.3M 0.74%
+7,511,700
New +$43.5M
BA icon
27
CALL
Boeing
BA
$190B
$45.2M 0.74%
138,900
+132,900
+2,215% +$47M
AXE
28
DELISTED
Anixter International Inc
AXE
$41M 0.67%
+445,000
New +$36.1M
OXY icon
29
CALL
Occidental Petroleum
OXY
$53.5B
$38M 0.62%
923,200
-415,000
-31% -$16.6M
S
30
PUT
DELISTED
Sprint Corporation
S
$37.8M 0.62%
7,255,000
+200,000
+3% +$1.17M
PCG icon
31
CALL
PG&E
PCG
$37.9B
$34.8M 0.57%
3,200,000
+2,815,000
+731% +$24.1M
HHH icon
32
PUT
Howard Hughes
HHH
$3.92B
$33.6M 0.55%
+277,985
New +$30.8M
ADSW
33
DELISTED
Advanced Disposal Services Inc
ADSW
$32.9M 0.54%
1,000,000
-2,350,000
-70% -$77.1M
RTX icon
34
RTX Corp
RTX
$300B
$28.5M 0.47%
301,910
+20,657
+7% +$1.87M
GNW icon
35
PUT
Genworth Financial
GNW
$3.71B
$27.4M 0.45%
+6,220,000
New +$26.2M
WBC
36
DELISTED
WABCO HOLDINGS INC.
WBC
$27.1M 0.44%
200,000
-213,989
-52% -$28.9M
ET icon
37
Energy Transfer Partners
ET
$69.9B
$25.1M 0.41%
1,960,000
-20,000
-1% -$246K
FIT
38
DELISTED
Fitbit, Inc. Class A common stock
FIT
$24.1M 0.4%
+3,675,000
New +$21.6M
BA icon
39
PUT
Boeing
BA
$190B
$23.6M 0.39%
+72,500
New +$25.7M
ARQL
40
DELISTED
Arqule Inc
ARQL
$23.5M 0.38%
+1,175,000
New +$13.6M
I
41
PUT
DELISTED
INTELSAT S. A.
I
$23.2M 0.38%
3,299,100
+1,415,100
+75% +$22.2M
HUM icon
42
PUT
Humana
HUM
$43.7B
$23.1M 0.38%
63,000
-15,000
-19% -$4.76M
I
43
DELISTED
INTELSAT S. A.
I
$22.7M 0.37%
3,229,991
-136,409
-4% -$2.14M
BITA
44
DELISTED
Bitauto Holdings Limited
BITA
$22.7M 0.37%
1,528,180
+465,795
+44% +$7.04M
UNH icon
45
CALL
UnitedHealth
UNH
$375B
$22M 0.36%
75,000
-17,500
-19% -$4.58M
TECD
46
DELISTED
Tech Data Corp
TECD
$21.5M 0.35%
+150,000
New +$19.3M
CZR
47
DELISTED
Caesars Entertainment Corporation
CZR
$21.4M 0.35%
1,575,000
-5,686,180
-78% -$72M
BOLD
48
DELISTED
Audentes Therapeutics, Inc
BOLD
$19.8M 0.32%
+331,214
New +$12.4M
HHH icon
49
Howard Hughes
HHH
$3.92B
$19.7M 0.32%
163,324
-200,679
-55% -$22.3M
TSG
50
DELISTED
The Stars Group Inc.
TSG
$18.9M 0.31%
+722,500
New +$16.2M
1
2
3 4 5

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MGP
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MIM
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SPIA
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Pentwater Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Pentwater Capital Management held 207 positions worth $6.11B, down 4.4% from $6.4B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Pentwater Capital Management withdrew a net $874M in Q4 2019, closing 56 positions and reducing 48 holdings. Its most notable exit was Celgene Corp, an estimated $615M position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.7% of assets, up from 7.2% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Pentwater Capital Management opened a new position in TD Ameritrade Holding Corp worth $253M.

  • Pentwater Capital Management's largest Q4 2019 buy was TD Ameritrade Holding Corp: 5,089,000 shares worth $253M.
  • Pentwater Capital Management added most to PG&E in Q4 2019, an estimated $105M increase.
  • Pentwater Capital Management's biggest Q4 2019 reduction was Wellcare Health Plans, Inc., cutting an estimated $122M.
  • Pentwater Capital Management fully exited Celgene Corp in Q4 2019, selling an estimated $615M.
  • Pentwater Capital Management's ten largest holdings make up 63% of its $6.11B portfolio in Q4 2019.
  • Pentwater Capital Management opened 52 new positions and closed 56 in Q4 2019.
  • Pentwater Capital Management's portfolio value fell 4.4% quarter-over-quarter to $6.11B.

Based on Pentwater Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.