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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
+2.72%
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
$3.61B
AUM Growth
-$1.09B
(-23%)
Cap. Flow
-$1.24B
Cap. Flow
% of AUM
-34.43%
Top 10 Holdings %
Top 10 Hldgs %
58.4%
Holding
148
New
48
Increased
25
Reduced
29
Closed
30
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LPS
LENDER PROCESSING SERVICES INC
LPS
|
+$112M |
| 2 |
TRQ
Turquoise Hill Resources Ltd
TRQ
|
+$112M |
| 3 |
SPRD
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
|
+$90M |
| 4 |
CTB
Cooper Tire & Rubber Co.
CTB
|
+$74.9M |
| 5 |
HMA
HEALTH MGMT ASSOC INC CL-A
HMA
|
+$63.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$783M |
| 2 |
FON
SPRINT CORP FON COM
FON
|
+$606M |
| 3 |
Zoetis
ZTS
|
+$257M |
| 4 |
GDI
GARDNER DENVER,INC
GDI
|
+$144M |
| 5 |
BMC
BMC SOFTWARE, INC
BMC
|
+$121M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 12.23% |
| 2 | Industrials | 7.29% |
| 3 | Materials | 6.06% |
| 4 | Consumer Discretionary | 2.93% |
| 5 | Financials | 2.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FON
76
CALL
DELISTED
SPRINT CORP FON COM
FON
| $3.11M | 0.09% |
+500,000
| New | +$3.11M |
|
|
FON
77
PUT
DELISTED
SPRINT CORP FON COM
FON
| $3.11M | 0.09% |
500,000
-5,078,200
| -91% | -$31.6M |
|
|
MBFI
78
DELISTED
MB Financial Corp
MBFI
| $3.05M | 0.08% |
+107,975
| New | +$3.04M |
|
79
PUT
Tesla
TSLA
$1.27T
| $2.9M | 0.08% |
225,000
-495,000
| -69% | -$4.9M |
|
|
80
PUT
Pfizer
PFE
$147B
| $2.87M | 0.08% |
105,400
-105,400
| -50% | -$2.87M |
|
|
VVUS
81
DELISTED
Vivus Inc
VVUS
| $2.79M | 0.08% |
30,000
+6,000
| +25% | +$749K |
|
|
VVUS
82
PUT
DELISTED
Vivus Inc
VVUS
| $2.79M | 0.08% |
+30,000
| New | +$3.75M |
|
83
General Motors
GM
$78.2B
| $2.76M | 0.08% |
+76,704
| New | +$2.75M |
|
|
SCR
84
DELISTED
SIMCERE PHARMACEUTICAL GROUP, ADS
SCR
| $2.58M | 0.07% |
272,209
+19,536
| +8% | +$185K |
|
|
CLVS
85
CALL
DELISTED
Clovis Oncology, Inc.
CLVS
| $2.43M | 0.07% |
+40,000
| New | +$2.84M |
|
86
Bank of America
BAC
$442B
| $2.28M | 0.06% |
165,000
| – | – |
|
87
Constellium
CSTM
$4.02B
| $2.05M | 0.06% |
105,800
-383,777
| -78% | -$6.98M |
|
88
BioMarin Pharmaceuticals
BMRN
$11.6B
| $1.99M | 0.05% |
+27,500
| New | +$1.83M |
|
89
Goldman Sachs
GS
$313B
| $1.9M | 0.05% |
12,000
| – | – |
|
|
EQC
90
DELISTED
Equity Commonwealth
EQC
| $1.86M | 0.05% |
85,000
-15,000
| -15% | -$357K |
|
|
WLH
91
DELISTED
WILLIAM LYON HOMES
WLH
| $1.76M | 0.05% |
86,712
+1,000
| +1% | +$22.1K |
|
92
Customers Bancorp
CUBI
$2.8B
| $1.63M | 0.05% |
111,356
-2,860
| -3% | -$43.5K |
|
93
Opko Health
OPK
$1.01B
| $1.54M | 0.04% |
+174,874
| New | +$1.4M |
|
94
Boise Cascade
BCC
$2.98B
| $1.52M | 0.04% |
+56,555
| New | +$1.45M |
|
|
95
PUT
BioMarin Pharmaceuticals
BMRN
$11.6B
| $1.44M | 0.04% |
+20,000
| New | +$1.33M |
|
|
ANR
96
DELISTED
Alpha Natural Resources Inc
ANR
| $1.07M | 0.03% |
180,000
| – | – |
|
|
EBIX
97
PUT
DELISTED
Ebix Inc
EBIX
| $994K | 0.03% |
+100,000
| New | +$1.09M |
|
|
JCP
98
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
| $881K | 0.02% |
+100,000
| New | +$1.43M |
|
|
XONE
99
DELISTED
The ExOne Company
XONE
| $852K | 0.02% |
+20,000
| New | +$1.25M |
|
100
Herbalife
HLF
$1.31B
| $823K | 0.02% |
+23,598
| New | +$730K |
|
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Pentwater Capital Management's Q3 2013 Portfolio in Review
As of Q3 2013, Pentwater Capital Management held 148 positions worth $3.61B, down 23% from $4.71B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Pentwater Capital Management withdrew a net $1.24B in Q3 2013, closing 30 positions and reducing 29 holdings. Its most notable exit was Pfizer, an estimated $783M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, down from 28% a quarter earlier, followed by Industrials and Materials.
Against the trend, Pentwater Capital Management opened a new position in Cooper Tire & Rubber Co. worth $70.8M.
- Pentwater Capital Management's largest Q3 2013 buy was Cooper Tire & Rubber Co.: 2,300,000 shares worth $70.8M.
- Pentwater Capital Management added most to LENDER PROCESSING SERVICES INC in Q3 2013, an estimated $112M increase.
- Pentwater Capital Management's biggest Q3 2013 reduction was Zoetis, cutting an estimated $257M.
- Pentwater Capital Management fully exited Pfizer in Q3 2013, selling an estimated $783M.
- Pentwater Capital Management's ten largest holdings make up 58% of its $3.61B portfolio in Q3 2013.
- Pentwater Capital Management opened 48 new positions and closed 30 in Q3 2013.
- Pentwater Capital Management's portfolio value fell 23% quarter-over-quarter to $3.61B.
Based on Pentwater Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.