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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
+23.69%
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
$5.7B
AUM Growth
-$3.24B
(-36%)
Cap. Flow
-$3.84B
Cap. Flow
% of AUM
-67.41%
Top 10 Holdings %
Top 10 Hldgs %
65.27%
Holding
186
New
39
Increased
32
Reduced
32
Closed
63
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$294M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$157M |
| 3 |
STOR
STORE Capital Corporation
STOR
|
+$75.8M |
| 4 |
DEN
Denbury Inc.
DEN
|
+$54.1M |
| 5 |
KNBE
KnowBe4, Inc. Class A Common Stock
KNBE
|
+$46.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWTR
Twitter, Inc.
TWTR
|
+$1.03B |
| 2 |
TRQ
Turquoise Hill Resources Ltd
TRQ
|
+$855M |
| 3 |
AVLR
Avalara, Inc.
AVLR
|
+$434M |
| 4 |
CTXS
Citrix Systems Inc
CTXS
|
+$421M |
| 5 |
ZEN
ZENDESK INC
ZEN
|
+$319M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.18% |
| 2 | Healthcare | 9.86% |
| 3 | Industrials | 6.84% |
| 4 | Communication Services | 6.45% |
| 5 | Real Estate | 3.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
iShares Russell 2000 ETF
IWM
$81.9B
| $872K | 0.02% |
5,000
-5,000
| -50% | -$889K |
|
|
AUTL
102
Autolus Therapeutics
AUTL
$562M
| $760K | 0.01% |
+400,000
| New | +$1.01M |
|
103
AMC Entertainment Holdings
AMC
$2.31B
| $753K | 0.01% |
+18,490
| New | +$1.17M |
|
|
PYCR
104
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
| $734K | 0.01% |
+30,000
| New | +$831K |
|
105
CALL
Vipshop
VIPS
$7.53B
| $734K | 0.01% |
53,800
| – | – |
|
106
Rogers Corp
ROG
$2.4B
| $680K | 0.01% |
5,700
-136,300
| -96% | -$21.2M |
|
|
107
PUT
Rogers Corp
ROG
$2.4B
| $680K | 0.01% |
+5,700
| New | +$885K |
|
|
RXDX
108
DELISTED
Prometheus Biosciences, Inc. Common Stock
RXDX
| $660K | 0.01% |
+6,000
| New | +$389K |
|
|
FYBR
109
DELISTED
Frontier Communications
FYBR
| $657K | 0.01% |
25,800
-1,169,200
| -98% | -$28.1M |
|
110
CALL
Synchrony
SYF
$25.6B
| $657K | 0.01% |
20,000
-30,000
| -60% | -$1.03M |
|
|
RXDX
111
PUT
DELISTED
Prometheus Biosciences, Inc. Common Stock
RXDX
| $550K | 0.01% |
+5,000
| New | +$324K |
|
112
Elutia
ELUT
$37.6M
| $531K | 0.01% |
+125,000
| New | +$783K |
|
|
RAPT
113
DELISTED
RAPT Therapeutics
RAPT
| $495K | 0.01% |
+3,125
| New | +$500K |
|
114
PUT
NXP Semiconductors
NXPI
$60.4B
| $474K | 0.01% |
3,000
| – | – |
|
115
CALL
Sutro Biopharma
STRO
$421M
| $404K | 0.01% |
+5,000
| New | +$347K |
|
116
Amazon
AMZN
$2.96T
| $336K | 0.01% |
4,000
+2,000
| +100% | +$198K |
|
|
HUYA
117
Huya Inc
HUYA
$558M
| $257K | ﹤0.01% |
+65,000
| New | +$165K |
|
118
Weibo
WB
$1.95B
| $191K | ﹤0.01% |
10,000
-9,420
| -49% | -$142K |
|
119
Bausch + Lomb
BLCO
$5.99B
| $155K | ﹤0.01% |
+10,000
| New | +$150K |
|
120
Warner Bros
WBD
$67.1B
| $9.48K | ﹤0.01% |
1,000
-931,500
| -100% | -$10.5M |
|
121
CALL
Advanced Micro Devices
AMD
$789B
| – | – |
-115,000
| Closed | -$7.29M |
|
122
Avantor
AVTR
$9.19B
| – | – |
-97,900
| Closed | -$1.92M |
|
|
123
PUT
Avantor
AVTR
$9.19B
| – | – |
-25,000
| Closed | -$490K |
|
|
BORR
124
Borr Drilling
BORR
$1.19B
| – | – |
-125,000
| Closed | -$415K |
|
125
Clarivate
CLVT
$1.16B
| – | – |
-65,000
| Closed | -$610K |
|
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Pentwater Capital Management's Q4 2022 Portfolio in Review
As of Q4 2022, Pentwater Capital Management held 186 positions worth $5.7B, down 36% from $8.94B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Pentwater Capital Management withdrew a net $3.84B in Q4 2022, closing 63 positions and reducing 32 holdings. Its most notable exit was Twitter, Inc., an estimated $1.03B position sold in full.
By sector, the portfolio is most concentrated in Technology at 18% of assets, down from 25% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Pentwater Capital Management opened a new position in Horizon Therapeutics Public Limited Company Ordinary Shares worth $403M.
- Pentwater Capital Management's largest Q4 2022 buy was Horizon Therapeutics Public Limited Company Ordinary Shares: 3,539,656 shares worth $403M.
- Pentwater Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q4 2022, an estimated $157M increase.
- Pentwater Capital Management's biggest Q4 2022 reduction was TEGNA Inc, cutting an estimated $118M.
- Pentwater Capital Management fully exited Twitter, Inc. in Q4 2022, selling an estimated $1.03B.
- Pentwater Capital Management's ten largest holdings make up 65% of its $5.7B portfolio in Q4 2022.
- Pentwater Capital Management opened 39 new positions and closed 63 in Q4 2022.
- Pentwater Capital Management's portfolio value fell 36% quarter-over-quarter to $5.7B.
Based on Pentwater Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.