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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
+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
Cap. Flow
+$2.96B
Cap. Flow %
21.04%
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
BHC icon
Bausch Health
BHC
+$210M
3
KMR
KINDER MORGAN MANAGEMENT LLC
KMR
+$153M
4
OUT icon
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
SPY icon
51
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$819B
$37M 0.26%
180,000
-20,000
-10% -$4.02M
TPH
52
DELISTED
Tri Pointe Homes
TPH
$29.9M 0.21%
1,960,000
-115,000
-6% -$1.64M
PARAA
53
CALL
DELISTED
Paramount Global Class A
PARAA
$29.9M 0.21%
540,000
-260,000
-33% -$14M
CLVS
54
DELISTED
Clovis Oncology, Inc.
CLVS
$27.7M 0.2%
494,600
-155,400
-24% -$8.17M
HAL icon
55
CALL
Halliburton
HAL
$26.6B
$25.4M 0.18%
+645,000
New +$31.4M
LO
56
CALL
DELISTED
LORILLARD INC COM STK
LO
$25.2M 0.18%
400,000
– –
LO
57
PUT
DELISTED
LORILLARD INC COM STK
LO
$25.2M 0.18%
+400,000
New +$24.7M
EBIX
58
DELISTED
Ebix Inc
EBIX
$23.8M 0.17%
1,400,000
-492,000
-26% -$7.56M
QSR icon
59
PUT
Restaurant Brands International
QSR
$25.8B
$23.2M 0.17%
+595,000
New +$22.9M
TRLA
60
DELISTED
TRULIA INC (DEL)
TRLA
$23M 0.16%
+500,200
New +$23.5M
NPSP
61
CALL
DELISTED
NPS PHARMACEUTICALS INC
NPSP
$22.2M 0.16%
+620,600
New +$18.5M
NPSP
62
PUT
DELISTED
NPS PHARMACEUTICALS INC
NPSP
$21.5M 0.15%
600,000
-410,000
-41% -$12.2M
AGN
63
CALL
DELISTED
Allergan Inc
AGN
$21.3M 0.15%
100,000
– –
CSX icon
64
PUT
CSX Corp
CSX
$94.7B
$20.3M 0.14%
+1,680,000
New +$19.7M
TLM
65
PUT
DELISTED
TALISMAN ENERGY INC
TLM
$19.4M 0.14%
+2,478,100
New +$15.6M
ABBV icon
66
CALL
AbbVie
ABBV
$435B
$18.3M 0.13%
280,000
-966,600
-78% -$60.9M
CODE
67
DELISTED
SPANSION INC, CLASS A COMMON STOCK
CODE
$17.8M 0.13%
+520,000
New +$12.3M
ANF icon
68
PUT
Abercrombie & Fitch
ANF
$4.86B
$17.7M 0.13%
616,700
+386,700
+168% +$11.9M
KYTH
69
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
$17.3M 0.12%
500,000
-119,400
-19% -$4.17M
SLXP
70
CALL
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$17.2M 0.12%
150,000
+40,000
+36% +$4.85M
AGFS
71
DELISTED
AgroFresh Solutions Inc
AGFS
$17.1M 0.12%
1,775,000
– –
AVNR
72
DELISTED
AVANIR PHARMACEUTICALS, INC CL A
AVNR
$16.9M 0.12%
+1,000,000
New +$14.1M
DRIV
73
PUT
DELISTED
DIGITAL RIVER INC.
DRIV
$16.8M 0.12%
+680,000
New +$14.9M
ANF icon
74
Abercrombie & Fitch
ANF
$4.86B
$16.3M 0.12%
570,000
-80,000
-12% -$2.46M
BRP
75
DELISTED
BROOKFIELD RESIDENTIAL PROPERTIES INC
BRP
$15.9M 0.11%
+660,402
New +$14.7M
1 2
3
4 5

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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.