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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
UNH icon
51
PUT
UnitedHealth
UNH
$367B
$18.8M 0.31%
64,000
– –
SYF icon
52
Synchrony
SYF
$25.6B
$17.9M 0.29%
496,801
-335,600
-40% -$12M
FIT
53
PUT
DELISTED
Fitbit, Inc. Class A common stock
FIT
$17.1M 0.28%
+2,600,000
New +$15.3M
ICVT icon
54
PUT
iShares Convertible Bond ETF
ICVT
$7.28B
$17.1M 0.28%
+500,000
New +$30.1M
GNW icon
55
Genworth Financial
GNW
$3.72B
$16.6M 0.27%
3,775,000
-4,465,100
-54% -$18.8M
BMY icon
56
CALL
Bristol-Myers Squibb
BMY
$131B
$14.9M 0.24%
232,000
-746,500
-76% -$42.8M
CBPO
57
DELISTED
China Biologic Products Holdings, Inc.
CBPO
$12.6M 0.21%
108,149
+24,659
+30% +$2.86M
S
58
DELISTED
Sprint Corporation
S
$11.3M 0.19%
2,177,000
+1,784,300
+454% +$10.5M
AGN
59
DELISTED
Allergan plc
AGN
$10.4M 0.17%
54,330
+49,100
+939% +$8.86M
MDCO
60
CALL
DELISTED
Medicines Co
MDCO
$8.49M 0.14%
100,000
– –
RARX
61
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$7.98M 0.13%
+170,000
New +$7.51M
XRX icon
62
CALL
Xerox
XRX
$424M
$7.37M 0.12%
+200,000
New +$6.99M
HUM icon
63
Humana
HUM
$44.1B
$6.96M 0.11%
19,000
-47,000
-71% -$14.9M
HWM icon
64
PUT
Howmet Aerospace
HWM
$116B
$6.77M 0.11%
+286,880
New +$6.41M
GEO icon
65
The GEO Group
GEO
$4.03B
$5.48M 0.09%
330,000
-345,000
-51% -$5.24M
DBX icon
66
Dropbox
DBX
$8.06B
$5.38M 0.09%
300,120
+24,120
+9% +$454K
SBOW
67
DELISTED
SilverBow Resources, Inc.
SBOW
$4.96M 0.08%
500,849
-137,203
-22% -$1.3M
AA icon
68
CALL
Alcoa
AA
$12.5B
$4.73M 0.08%
+220,000
New +$4.55M
ENDP
69
CALL
DELISTED
Endo International plc
ENDP
$4.69M 0.08%
+1,000,000
New +$4.46M
KRTX
70
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
$4.37M 0.07%
57,951
-4,499
-7% -$197K
THOR
71
DELISTED
Synthorx, Inc. Common Stock
THOR
$4.29M 0.07%
+61,400
New +$1.75M
DT icon
72
Dynatrace
DT
$14.2B
$4.17M 0.07%
165,000
+100,000
+154% +$2.2M
WMB icon
73
Williams Companies
WMB
$87.8B
$4.03M 0.07%
170,000
– –
WCG
74
DELISTED
Wellcare Health Plans, Inc.
WCG
$3.96M 0.06%
12,000
-408,000
-97% -$122M
TMUS icon
75
CALL
T-Mobile US
TMUS
$193B
$3.92M 0.06%
+50,000
New +$3.93M
1 2
3
4 5

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LF
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MIM
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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.