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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
UCP
126
DELISTED
UCP, Inc.
UCP
– –
-400,000
Closed -$5.94M
BEAM
127
PUT
DELISTED
BEAM INC COM STK (DE)
BEAM
– –
-10,000
Closed -$647K
HITK
128
DELISTED
HI-TECH PHARMACAL INC
HITK
– –
-10,842
Closed -$468K
ZOLT
129
DELISTED
ZOLTEK COMPANIES INC
ZOLT
– –
-494,513
Closed -$8.25M
VPHM
130
CALL
DELISTED
VIROPHARMA INC
VPHM
– –
-100,000
Closed -$3.93M
SPRD
131
DELISTED
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
– –
-3,441,332
Closed -$105M
BLC
132
DELISTED
BELO CORP SER A
BLC
– –
-2,844,714
Closed -$39M
STEI
133
DELISTED
STEWART ENTERPRISES INC CL-A
STEI
– –
-6,425,000
Closed -$84.5M
SCR
134
DELISTED
SIMCERE PHARMACEUTICAL GROUP, ADS
SCR
– –
-272,209
Closed -$2.58M
ELN
135
DELISTED
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
– –
-7,440,000
Closed -$116M
BRY
136
DELISTED
BERRY PETROLEUM CO CL A
BRY
– –
-280,847
Closed -$12.1M
LCC
137
CALL
DELISTED
US AIRWAYS GROUP INC.
LCC
– –
-385,000
Closed -$7.3M
LCC
138
DELISTED
US AIRWAYS GROUP INC.
LCC
– –
-28,675
Closed -$544K
LCC
139
PUT
DELISTED
US AIRWAYS GROUP INC.
LCC
– –
-1,152,000
Closed -$21.8M
SHFL
140
DELISTED
SHFL ENTMT INC
SHFL
– –
-400,000
Closed -$9.19M
NYX
141
DELISTED
NYSE EURONEXT INC
NYX
– –
-567,932
Closed -$23.8M
OMX
142
DELISTED
OFFICEMAX INCORPORATED
OMX
– –
-4,167,800
Closed -$53.3M
SKS
143
DELISTED
SAKS INCORPORATED
SKS
– –
-500,000
Closed -$7.97M
DOLE
144
DELISTED
DOLE FOOD CO INC NEW CMN STK (DE)
DOLE
– –
-950,000
Closed -$12.9M
DELL
145
DELISTED
DELL INC
DELL
– –
-24,074,000
Closed -$331M
WMS
146
DELISTED
WMS INDS INC
WMS
– –
-2,094,503
Closed -$54.4M
RUE
147
DELISTED
RUE21 INC COM STK (DE)
RUE
– –
-290,000
Closed -$11.7M
FIRE
148
DELISTED
SOURCEFIRE INC COM STK
FIRE
– –
-100,000
Closed -$7.59M
VHS
149
DELISTED
VANGUARD HEALTH SYS INC COM STK (DE)
VHS
– –
-12,836
Closed -$270K
ONXX
150
CALL
DELISTED
ONYX PHARMACEUTICALS INC
ONXX
– –
-81,900
Closed -$10.2M
3 4 5
6
7

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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.