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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
+2.71%
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
$9.84B
AUM Growth
-$2.28B
(-19%)
Cap. Flow
-$2.08B
Cap. Flow
% of AUM
-21.12%
Top 10 Holdings %
Top 10 Hldgs %
57.61%
Holding
370
New
68
Increased
62
Reduced
62
Closed
140
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$293M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$273M |
| 3 |
HRC
HILL-ROM HOLDINGS, INC.
HRC
|
+$250M |
| 4 |
FIVE9
FIVN
|
+$227M |
| 5 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$181M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MXIM
Maxim Integrated Products
MXIM
|
+$1.18B |
| 2 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$906M |
| 3 |
WORK
Slack Technologies, Inc.
WORK
|
+$861M |
| 4 |
PFPT
Proofpoint, Inc.
PFPT
|
+$438M |
| 5 |
PRAH
PRA Health Sciences, Inc.
PRAH
|
+$205M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 13.73% |
| 2 | Healthcare | 12.3% |
| 3 | Communication Services | 11.97% |
| 4 | Industrials | 9.76% |
| 5 | Consumer Discretionary | 3.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
PUT
Synchrony
SYF
$25.6B
| $75.3M | 0.76% |
1,540,000
| – | – |
|
|
CHNG
27
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| $62.8M | 0.64% |
3,000,000
-6,005,500
| -67% | -$131M |
|
|
CUK
28
CALL
DELISTED
Carnival PLC
CUK
| $60.6M | 0.62% |
+2,422,500
| New | +$51.4M |
|
|
DOYU
29
DouYu International Holdings
DOYU
$142M
| $56.2M | 0.57% |
1,708,000
+1,413,000
| +479% | +$56.9M |
|
|
TRIL
30
DELISTED
Trillium Therapeutics Inc.
TRIL
| $55.1M | 0.56% |
+3,140,000
| New | +$36.7M |
|
31
CALL
Norwegian Cruise Line
NCLH
$8.84B
| $52.9M | 0.54% |
1,980,000
+215,000
| +12% | +$5.47M |
|
|
SCR
32
DELISTED
Score Media and Gaming Inc. Class A Subordinate Voting Shares
SCR
| $51.3M | 0.52% |
+1,500,000
| New | +$41.4M |
|
33
Vipshop
VIPS
$7.53B
| $48.3M | 0.49% |
4,335,981
-1,759,019
| -29% | -$27.7M |
|
34
PG&E
PCG
$38.5B
| $46.7M | 0.47% |
4,860,000
-9,104,536
| -65% | -$86M |
|
|
35
PUT
Vipshop
VIPS
$7.53B
| $43.6M | 0.44% |
3,909,500
+89,500
| +2% | +$1.41M |
|
36
PUT
Boeing
BA
$185B
| $42.3M | 0.43% |
+192,500
| New | +$42.9M |
|
|
FYBR
37
DELISTED
Frontier Communications
FYBR
| $42.2M | 0.43% |
1,512,729
| – | – |
|
|
KDMN
38
DELISTED
Kadmon Holdings, Inc.
KDMN
| $42.1M | 0.43% |
+4,830,000
| New | +$27.5M |
|
39
Royal Caribbean
RCL
$85.6B
| $41.2M | 0.42% |
463,700
+274,899
| +146% | +$22.2M |
|
|
MNR
40
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $41M | 0.42% |
+2,200,000
| New | +$41.7M |
|
|
SAFM
41
DELISTED
Sanderson Farms Inc
SAFM
| $39M | 0.4% |
207,000
+70,000
| +51% | +$13.2M |
|
42
PUT
Baidu
BIDU
$37.2B
| $38.6M | 0.39% |
250,800
+90,800
| +57% | +$14.9M |
|
|
KRA
43
DELISTED
Kraton Corporation
KRA
| $36.5M | 0.37% |
+800,000
| New | +$31.8M |
|
|
PSTX
44
DELISTED
Poseida Therapeutics, Inc. Common Stock
PSTX
| $36.2M | 0.37% |
4,967,227
| – | – |
|
45
PUT
Invesco QQQ Trust
QQQ
$484B
| $35.8M | 0.36% |
100,000
-95,000
| -49% | -$35M |
|
46
Sportsman's Warehouse
SPWH
$46M
| $34.2M | 0.35% |
1,945,000
+457,418
| +31% | +$8.1M |
|
|
CXP
47
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
| $31.1M | 0.32% |
1,635,817
+846,112
| +107% | +$14.7M |
|
|
XOG
48
DELISTED
Extraction Oil & Gas, Inc. Common Stock
XOG
| $30.5M | 0.31% |
541,044
+469,860
| +660% | +$22.5M |
|
|
HRC
49
PUT
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
| $30M | 0.3% |
+200,000
| New | +$27M |
|
|
50
CALL
Royal Caribbean
RCL
$85.6B
| $28.2M | 0.29% |
317,500
-12,500
| -4% | -$1.01M |
|
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Pentwater Capital Management's Q3 2021 Portfolio in Review
As of Q3 2021, Pentwater Capital Management held 370 positions worth $9.84B, down 19% from $12.1B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Pentwater Capital Management withdrew a net $2.08B in Q3 2021, closing 140 positions and reducing 62 holdings. Its most notable exit was Maxim Integrated Products, an estimated $1.18B position sold in full.
By sector, the portfolio is most concentrated in Technology at 14% of assets, down from 20% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Pentwater Capital Management opened a new position in HILL-ROM HOLDINGS, INC. worth $278M.
- Pentwater Capital Management's largest Q3 2021 buy was HILL-ROM HOLDINGS, INC.: 1,850,000 shares worth $278M.
- Pentwater Capital Management added most to Nuance Communications, Inc. in Q3 2021, an estimated $293M increase.
- Pentwater Capital Management's biggest Q3 2021 reduction was Change Healthcare Inc. Common Stock, cutting an estimated $131M.
- Pentwater Capital Management fully exited Maxim Integrated Products in Q3 2021, selling an estimated $1.18B.
- Pentwater Capital Management's ten largest holdings make up 58% of its $9.84B portfolio in Q3 2021.
- Pentwater Capital Management opened 68 new positions and closed 140 in Q3 2021.
- Pentwater Capital Management's portfolio value fell 19% quarter-over-quarter to $9.84B.
Based on Pentwater Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.