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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
+28.06%
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
$8.28B
AUM Growth
+$544M
(+7%)
Cap. Flow
-$651M
Cap. Flow
% of AUM
-7.87%
Top 10 Holdings %
Top 10 Hldgs %
64.5%
Holding
301
New
80
Increased
38
Reduced
62
Closed
67
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
WORK
Slack Technologies, Inc.
WORK
|
+$612M |
| 2 |
XLNX
Xilinx Inc
XLNX
|
+$523M |
| 3 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$380M |
| 4 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$271M |
| 5 |
IPHI
INPHI CORPORATION
IPHI
|
+$171M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$448M |
| 2 |
IMMU
Immunomedics Inc
IMMU
|
+$333M |
| 3 |
TCO
Taubman Centers Inc.
TCO
|
+$167M |
| 4 |
PG&E
PCG
|
+$160M |
| 5 |
AMTD
TD Ameritrade Holding Corp
AMTD
|
+$159M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 11.92% |
| 2 | Healthcare | 7.46% |
| 3 | Materials | 5.96% |
| 4 | Communication Services | 4.33% |
| 5 | Industrials | 4.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CXO
26
DELISTED
CONCHO RESOURCES INC.
CXO
| $56.1M | 0.68% |
+961,000
| New | +$50.6M |
|
|
PSTX
27
DELISTED
Poseida Therapeutics, Inc. Common Stock
PSTX
| $54.5M | 0.66% |
4,967,227
+87,737
| +2% | +$925K |
|
|
RP
28
DELISTED
RealPage, Inc.
RP
| $52.3M | 0.63% |
+600,000
| New | +$39.3M |
|
|
BMY.RT
29
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| $47.7M | 0.58% |
69,050,000
+30,983,188
| +81% | +$66M |
|
30
NXP Semiconductors
NXPI
$60.4B
| $40.5M | 0.49% |
254,500
+12,500
| +5% | +$1.84M |
|
31
PUT
Advanced Micro Devices
AMD
$789B
| $37.6M | 0.45% |
+410,000
| New | +$35.4M |
|
|
ACIA
32
DELISTED
Acacia Communications Inc
ACIA
| $30.4M | 0.37% |
417,000
-1,048,333
| -72% | -$72.5M |
|
|
FIT
33
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $30.1M | 0.36% |
4,425,000
-3,575,000
| -45% | -$25.2M |
|
34
Dine Brands
DIN
$452M
| $29.2M | 0.35% |
503,500
+129,600
| +35% | +$7.88M |
|
|
CBB
35
DELISTED
Cincinnati Bell Inc.
CBB
| $28.6M | 0.35% |
1,875,000
+400,000
| +27% | +$6.07M |
|
|
XLNX
36
PUT
DELISTED
Xilinx Inc
XLNX
| $28.4M | 0.34% |
+200,000
| New | +$26M |
|
|
DOYU
37
DouYu International Holdings
DOYU
$142M
| $25.7M | 0.31% |
+232,500
| New | +$31.5M |
|
38
Genworth Financial
GNW
$3.71B
| $24.2M | 0.29% |
6,400,700
+2,015,900
| +46% | +$8.29M |
|
|
TCF
39
DELISTED
TCF Financial Corporation Common Stock
TCF
| $23.9M | 0.29% |
+645,000
| New | +$20.5M |
|
|
FIT
40
PUT
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $23.5M | 0.28% |
3,450,100
| – | – |
|
|
JOBS
41
DELISTED
51job Inc
JOBS
| $21M | 0.25% |
+300,000
| New | +$21.7M |
|
42
CALL
Synchrony
SYF
$25.6B
| $18.9M | 0.23% |
545,000
-50,000
| -8% | -$1.5M |
|
43
Carnival Corporation Ltd
CCL
$39.7B
| $18.8M | 0.23% |
+869,000
| New | +$15.5M |
|
44
Norwegian Cruise Line
NCLH
$8.84B
| $16.3M | 0.2% |
+641,000
| New | +$13.4M |
|
|
45
CALL
PG&E
PCG
$38.5B
| $16.2M | 0.2% |
1,297,900
-150,000
| -10% | -$1.7M |
|
|
EIDX
46
DELISTED
Eidos Therapeutics, Inc. Common Stock
EIDX
| $16M | 0.19% |
+121,933
| New | +$10.8M |
|
47
PUT
Invesco
IVZ
$13.9B
| $15.7M | 0.19% |
+50,000
| New | +$769K |
|
|
48
PUT
PG&E
PCG
$38.5B
| $14.2M | 0.17% |
1,137,100
-60,000
| -5% | -$679K |
|
49
CALL
Royal Caribbean
RCL
$85.6B
| $13.8M | 0.17% |
+185,000
| New | +$12.9M |
|
50
Darden Restaurants
DRI
$24.4B
| $13.6M | 0.16% |
114,000
-561,600
| -83% | -$60.1M |
|
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Pentwater Capital Management's Q4 2020 Portfolio in Review
As of Q4 2020, Pentwater Capital Management held 301 positions worth $8.28B, up 7% from $7.73B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Pentwater Capital Management withdrew a net $651M in Q4 2020, closing 67 positions and reducing 62 holdings. Its most notable exit was Immunomedics Inc, an estimated $333M position sold in full.
By sector, the portfolio is most concentrated in Technology at 12% of assets, up from 2.8% a quarter earlier, followed by Healthcare and Materials.
Against the trend, Pentwater Capital Management opened a new position in Slack Technologies, Inc. worth $765M.
- Pentwater Capital Management's largest Q4 2020 buy was Slack Technologies, Inc.: 18,106,000 shares worth $765M.
- Pentwater Capital Management added most to Maxim Integrated Products in Q4 2020, an estimated $150M increase.
- Pentwater Capital Management's biggest Q4 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $448M.
- Pentwater Capital Management fully exited Immunomedics Inc in Q4 2020, selling an estimated $333M.
- Pentwater Capital Management's ten largest holdings make up 64% of its $8.28B portfolio in Q4 2020.
- Pentwater Capital Management opened 80 new positions and closed 67 in Q4 2020.
- Pentwater Capital Management's portfolio value rose 7% quarter-over-quarter to $8.28B.
Based on Pentwater Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.