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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
+9.83%
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
$3.47B
AUM Growth
-$139M
Cap. Flow
-$489M
Cap. Flow %
-14.07%
Top 10 Hldgs %
53.08%
Holding
162
New
44
Increased
30
Reduced
20
Closed
45

Top Buys

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$274M
2
TRQ
Turquoise Hill Resources Ltd
TRQ
+$110M
3
AAL icon
American Airlines Group
AAL
+$80.9M
4
VPHM
VIROPHARMA INC
VPHM
+$70.9M
5
TRQ.RT
TURQUOISE HILL RES LTD RTS EXP 01/07/2014 (DE)
TRQ.RT
+$63.2M

Top Sells

Rank Stock Value
1
DELL
DELL INC
DELL
+$331M
2
LIFE
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
+$128M
3
ELN
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
+$116M
4
SPRD
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
+$105M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$86.7M

Sector Composition

Rank Sector Weight
1 Materials 9.42%
2 Communication Services 9.31%
3 Healthcare 8.47%
4 Industrials 6.99%
5 Consumer Discretionary 2.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VOD icon
76
PUT
Vodafone
VOD
$35.4B
$3.93M 0.11%
+98,100
New +$3.69M
MYCC
77
DELISTED
ClubCorp Holdings, Inc.
MYCC
$3.55M 0.1%
+200,000
New +$3.06M
CACQ
78
DELISTED
Caesars Acquisition Company
CACQ
$3.38M 0.1%
+280,000
New +$3.25M
JOSB
79
PUT
DELISTED
JOS A BANK CLOTHIERS INC
JOSB
$3.29M 0.09%
+60,000
New +$3.08M
FNF icon
80
CALL
Fidelity National Financial
FNF
$13.8B
$3.25M 0.09%
+175,153
New +$2.83M
FNF icon
81
PUT
Fidelity National Financial
FNF
$13.8B
$3.25M 0.09%
+175,153
New +$2.83M
PFE icon
82
PUT
Pfizer
PFE
$147B
$3.06M 0.09%
105,400
– –
VVUS
83
DELISTED
Vivus Inc
VVUS
$2.98M 0.09%
32,783
+2,783
+9% +$269K
BAC icon
84
Bank of America
BAC
$442B
$2.57M 0.07%
165,000
– –
TSLA icon
85
PUT
Tesla
TSLA
$1.27T
$2.56M 0.07%
255,000
+30,000
+13% +$306K
CLVS
86
CALL
DELISTED
Clovis Oncology, Inc.
CLVS
$2.41M 0.07%
40,000
– –
CSTM icon
87
Constellium
CSTM
$4.02B
$2.33M 0.07%
100,000
-5,800
-5% -$116K
GS icon
88
Goldman Sachs
GS
$313B
$2.13M 0.06%
12,000
– –
TRQ
89
PUT
DELISTED
Turquoise Hill Resources Ltd
TRQ
$2.11M 0.06%
63,880
+50,890
+392% +$1.71M
DAR icon
90
CALL
Darling Ingredients
DAR
$9.19B
$2.09M 0.06%
+100,000
New +$2.14M
WLH
91
DELISTED
WILLIAM LYON HOMES
WLH
$1.92M 0.06%
86,712
– –
TMUS icon
92
CALL
T-Mobile US
TMUS
$186B
$1.68M 0.05%
+50,000
New +$1.37M
NEWS
93
DELISTED
NewStar Financial, Inc.
NEWS
$1.65M 0.05%
92,787
+57,938
+166% +$974K
ANR
94
DELISTED
Alpha Natural Resources Inc
ANR
$1.28M 0.04%
180,000
– –
AAPL icon
95
Apple
AAPL
$4.54T
$1.12M 0.03%
+56,000
New +$1.06M
TSLA icon
96
CALL
Tesla
TSLA
$1.27T
$1.05M 0.03%
+105,000
New +$1.07M
RVBD
97
DELISTED
RIVERBED TECHNOLOGY, INC COM
RVBD
$994K 0.03%
+55,000
New +$891K
JCP
98
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
$915K 0.03%
100,000
– –
JCP
99
DELISTED
J.C. Penney Company, Inc.
JCP
$860K 0.02%
94,000
+54,000
+135% +$450K
SGM
100
DELISTED
Stonegate Mortgage Corporation
SGM
$681K 0.02%
+41,168
New +$705K
2 3
4
5 6

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MGP
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MIM
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Pentwater Capital Management's Q4 2013 Portfolio in Review

As of Q4 2013, Pentwater Capital Management held 162 positions worth $3.47B, down 3.8% from $3.61B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Pentwater Capital Management withdrew a net $489M in Q4 2013, closing 45 positions and reducing 20 holdings. Its most notable exit was DELL INC, an estimated $331M position sold in full.

By sector, the portfolio is most concentrated in Materials at 9.4% of assets, up from 6.1% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Pentwater Capital Management opened a new position in TIME WARNER CABLE INC NEW COM STK worth $299M.

  • Pentwater Capital Management's largest Q4 2013 buy was TIME WARNER CABLE INC NEW COM STK: 2,205,000 shares worth $299M.
  • Pentwater Capital Management added most to Turquoise Hill Resources Ltd in Q4 2013, an estimated $110M increase.
  • Pentwater Capital Management's biggest Q4 2013 reduction was LIFE TECHNOLOGIES CORP COM STK (DE), cutting an estimated $128M.
  • Pentwater Capital Management fully exited DELL INC in Q4 2013, selling an estimated $331M.
  • Pentwater Capital Management's ten largest holdings make up 53% of its $3.47B portfolio in Q4 2013.
  • Pentwater Capital Management opened 44 new positions and closed 45 in Q4 2013.
  • Pentwater Capital Management's portfolio value fell 3.8% quarter-over-quarter to $3.47B.

Based on Pentwater Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.