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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
+3.48%
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
$3.75B
AUM Growth
+$273M
Cap. Flow
+$163M
Cap. Flow %
4.35%
Top 10 Hldgs %
63.25%
Holding
164
New
47
Increased
29
Reduced
28
Closed
41

Top Buys

Rank Stock Value
1
TRQ
Turquoise Hill Resources Ltd
TRQ
+$166M
2
BEAM
BEAM INC COM STK (DE)
BEAM
+$133M
3
VOD icon
Vodafone
VOD
+$116M
4
CMCSA icon
Comcast
CMCSA
+$80.3M
5
JOSB
JOS A BANK CLOTHIERS INC
JOSB
+$78.9M

Top Sells

Rank Stock Value
1
VPHM
VIROPHARMA INC
VPHM
+$141M
2
LPS
LENDER PROCESSING SERVICES INC
LPS
+$140M
3
HMA
HEALTH MGMT ASSOC INC CL-A
HMA
+$104M
4
AAL icon
American Airlines Group
AAL
+$103M
5
LIFE
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
+$75.8M

Sector Composition

Rank Sector Weight
1 Communication Services 14.35%
2 Materials 13.19%
3 Healthcare 5.88%
4 Consumer Staples 5.16%
5 Consumer Discretionary 4.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ANR
101
DELISTED
Alpha Natural Resources Inc
ANR
$765K 0.02%
180,000
– –
CLVS
102
CALL
DELISTED
Clovis Oncology, Inc.
CLVS
$693K 0.02%
10,000
-30,000
-75% -$2.2M
RFMD
103
DELISTED
RF MICRO DEVICES INC
RFMD
$660K 0.02%
+83,749
New +$515K
CHGG icon
104
Chegg
CHGG
$96.4M
$525K 0.01%
75,000
– –
ZLC
105
DELISTED
ZALE CORPORATION
ZLC
$523K 0.01%
+25,000
New +$452K
DIS icon
106
Walt Disney
DIS
$180B
$480K 0.01%
+6,000
New +$465K
BAGL
107
DELISTED
EINSTEIN NOAH RESTAURANT GROUP, INC CMN STK (DELAWARE)
BAGL
$412K 0.01%
25,000
– –
MEG
108
DELISTED
Media General, Inc
MEG
$315K 0.01%
+17,158
New +$316K
HCBK
109
DELISTED
HUDSON CITY BANCORP INC
HCBK
$264K 0.01%
26,837
– –
VZ icon
110
Verizon
VZ
$194B
$227K 0.01%
+4,766
New +$225K
KIPS
111
DELISTED
KIPS BAY MEDICAL INC
KIPS
$217K 0.01%
311,800
– –
GM.WS.B
112
DELISTED
General Motors Company
GM.WS.B
$216K 0.01%
12,425
-381,714
-97% -$7.37M
BYD icon
113
Boyd Gaming
BYD
$6.11B
$132K ﹤0.01%
+10,000
New +$116K
APP
114
DELISTED
AMERICAN APPAREL INC COM
APP
$60K ﹤0.01%
+120,000
New +$109K
AAL icon
115
PUT
American Airlines Group
AAL
$10.8B
– –
-6,995,000
Closed -$177M
AAPL icon
116
Apple
AAPL
$4.52T
– –
-56,000
Closed -$1.07M
BB icon
117
CALL
BlackBerry
BB
$5.26B
– –
-50,000
Closed -$372K
FNF icon
118
CALL
Fidelity National Financial
FNF
$13.8B
– –
-175,153
Closed -$3.25M
FNF icon
119
PUT
Fidelity National Financial
FNF
$13.8B
– –
-175,153
Closed -$3.25M
HLF icon
120
CALL
Herbalife
HLF
$1.2B
– –
-760,000
Closed -$29.9M
HLF icon
121
PUT
Herbalife
HLF
$1.2B
– –
-500,000
Closed -$19.7M
PFE icon
122
PUT
Pfizer
PFE
$148B
– –
-105,400
Closed -$3.06M
SSP icon
123
CALL
E.W. Scripps
SSP
$277M
– –
-67,620
Closed -$5.18M
STZ icon
124
CALL
Constellation Brands
STZ
$22.8B
– –
-100,000
Closed -$7.04M
STZ icon
125
PUT
Constellation Brands
STZ
$22.8B
– –
-380,000
Closed -$26.7M
3 4
5
6 7

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A
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LF
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Select Equity Group
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MIM
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SPIA
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BPA
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NAM
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Pentwater Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Pentwater Capital Management held 164 positions worth $3.75B, up 7.9% from $3.47B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Pentwater Capital Management deployed $163M of net new capital in Q1 2014, opening 47 new positions and adding to 29 existing holdings. Its largest new stake was Vodafone: 3,000,000 shares worth $110M.

By sector, the portfolio is most concentrated in Communication Services at 14% of assets, up from 9.3% a quarter earlier, followed by Materials and Healthcare.

On the sell side, the largest reduction was American Airlines Group, an estimated $103M trimmed.

  • Pentwater Capital Management's largest Q1 2014 buy was Vodafone: 3,000,000 shares worth $110M.
  • Pentwater Capital Management added most to Turquoise Hill Resources Ltd in Q1 2014, an estimated $166M increase.
  • Pentwater Capital Management's biggest Q1 2014 reduction was American Airlines Group, cutting an estimated $103M.
  • Pentwater Capital Management fully exited VIROPHARMA INC in Q1 2014, selling an estimated $141M.
  • Pentwater Capital Management's ten largest holdings make up 63% of its $3.75B portfolio in Q1 2014.
  • Pentwater Capital Management opened 47 new positions and closed 41 in Q1 2014.
  • Pentwater Capital Management's portfolio value rose 7.9% quarter-over-quarter to $3.75B.

Based on Pentwater Capital Management's 13F filing for Q1 2014, filed 15 May 2014.