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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
+6.6%
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
$15B
AUM Growth
+$3.38B
Cap. Flow
+$3.07B
Cap. Flow %
20.42%
Top 10 Hldgs %
64.96%
Holding
127
New
24
Increased
32
Reduced
19
Closed
31

Top Buys

Rank Stock Value
1
AET
Aetna Inc
AET
+$838M
2
QCOM icon
Qualcomm
QCOM
+$763M
3
MON
Monsanto Co
MON
+$307M
4
OA
Orbital ATK, Inc.
OA
+$183M
5
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
+$79.6M

Top Sells

Rank Stock Value
1
LVLT
Level 3 Communications Inc
LVLT
+$548M
2
SNI
Scripps Networks Interactive, Inc Common Class A
SNI
+$144M
3
CPN
Calpine Corporation
CPN
+$95.9M
4
RICE
Rice Energy Inc.
RICE
+$65.1M
5
BCR
CR Bard Inc.
BCR
+$61.9M

Sector Composition

Rank Sector Weight
1 Technology 19.87%
2 Materials 9.15%
3 Communication Services 7.52%
4 Financials 6.42%
5 Healthcare 1.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ET icon
76
Energy Transfer Partners
ET
$70.1B
$4.98M 0.03%
288,400
– –
KMI icon
77
Kinder Morgan
KMI
$71.7B
$3.7M 0.02%
205,000
– –
RGC
78
DELISTED
Regal Entertainment Group
RGC
$3.45M 0.02%
+150,000
New +$2.76M
DIS icon
79
CALL
Walt Disney
DIS
$167B
$2.69M 0.02%
+25,000
New +$2.58M
RXDX
80
DELISTED
Ignyta, Inc.
RXDX
$2.67M 0.02%
+100,000
New +$1.62M
CZR
81
DELISTED
Caesars Entertainment Corporation
CZR
$2.53M 0.02%
+200,000
New +$2.54M
SUN icon
82
Sunoco
SUN
$14.4B
$2.27M 0.02%
80,000
– –
BAC icon
83
Bank of America
BAC
$435B
$2.21M 0.01%
75,000
-7,500
-9% -$207K
RAD
84
DELISTED
Rite Aid Corporation
RAD
$1.99M 0.01%
50,620
– –
RAD
85
PUT
DELISTED
Rite Aid Corporation
RAD
$1.99M 0.01%
50,620
– –
IXYS
86
DELISTED
IXYS Corp
IXYS
$1.92M 0.01%
80,000
-269,657
-77% -$6.5M
TIME
87
DELISTED
Time Inc.
TIME
$1.84M 0.01%
+100,000
New +$1.5M
BOBE
88
DELISTED
Bob Evans Farms, Inc.
BOBE
$788K 0.01%
10,000
-65,000
-87% -$5.05M
PFE icon
89
Pfizer
PFE
$143B
$717K ﹤0.01%
+20,869
New +$712K
AGFS
90
DELISTED
AgroFresh Solutions Inc
AGFS
$639K ﹤0.01%
86,400
-228,600
-73% -$1.45M
CYH icon
91
Community Health Systems
CYH
$393M
$554K ﹤0.01%
130,000
-110,000
-46% -$553K
WPZ
92
DELISTED
Williams Partners L.P.
WPZ
$388K ﹤0.01%
10,000
– –
SAIL
93
DELISTED
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
$290K ﹤0.01%
+20,000
New +$293K
AGFSW
94
DELISTED
AgroFresh Solutions Inc Warrants
AGFSW
$248K ﹤0.01%
605,000
– –
AQ
95
DELISTED
Aquantia Corp. Common Stock
AQ
$113K ﹤0.01%
+10,000
New +$113K
CLF icon
96
PUT
Cleveland-Cliffs
CLF
$6.57B
– –
-96,000
Closed -$686K
ET icon
97
CALL
Energy Transfer Partners
ET
$70.1B
– –
-860,000
Closed -$15.7M
FOR icon
98
Forestar Group
FOR
$1.44B
– –
-145,700
Closed -$2.51M
JPM icon
99
CALL
JPMorgan Chase
JPM
$935B
– –
-163,700
Closed -$15.6M
PFE icon
100
CALL
Pfizer
PFE
$143B
– –
-3,372,800
Closed -$114M
2 3
4
5 6

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CS
Candriam SCA Strassen, Luxembourg, Luxembourg $19.3B AUM 39.18% 1-Year Est. Return
MGP
M&G plc London, United Kingdom $19.4B AUM 16.7% 1-Year Est. Return
A
AustralianSuper Melbourne, Australia $19.2B AUM 31.95% 1-Year Est. Return
LF
Lansforsakringar Fondforvaltning Stockholm, Sweden $19.1B AUM 26.9% 1-Year Est. Return
Select Equity Group
Select Equity Group New York $19.5B AUM 17.33% 1-Year Est. Return
MIM
MetLife Investment Management Whippany, New Jersey $19.6B AUM 32.64% 1-Year Est. Return
SPIA
Steward Partners Investment Advisory New York $19.6B AUM 22.89% 1-Year Est. Return
BPA
Beacon Pointe Advisors Newport Beach, California $18.9B AUM 18.9% 1-Year Est. Return

Pentwater Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Pentwater Capital Management held 127 positions worth $15B, up 29% from $11.7B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Pentwater Capital Management deployed $3.07B of net new capital in Q4 2017, opening 24 new positions and adding to 32 existing holdings. Its largest new stake was Aetna Inc: 4,880,000 shares worth $880M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Materials and Communication Services.

On the sell side, the largest reduction was Scripps Networks Interactive, Inc Common Class A, an estimated $144M trimmed.

  • Pentwater Capital Management's largest Q4 2017 buy was Aetna Inc: 4,880,000 shares worth $880M.
  • Pentwater Capital Management added most to Qualcomm in Q4 2017, an estimated $763M increase.
  • Pentwater Capital Management's biggest Q4 2017 reduction was Scripps Networks Interactive, Inc Common Class A, cutting an estimated $144M.
  • Pentwater Capital Management fully exited Level 3 Communications Inc in Q4 2017, selling an estimated $548M.
  • Pentwater Capital Management's ten largest holdings make up 65% of its $15B portfolio in Q4 2017.
  • Pentwater Capital Management opened 24 new positions and closed 31 in Q4 2017.
  • Pentwater Capital Management's portfolio value rose 29% quarter-over-quarter to $15B.

Based on Pentwater Capital Management's 13F filing for Q4 2017, filed 7 Feb 2018.