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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
-4.91%
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
$11.7B
AUM Growth
-$123M
Cap. Flow
+$901M
Cap. Flow %
7.71%
Top 10 Hldgs %
77.41%
Holding
194
New
48
Increased
39
Reduced
30
Closed
57

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.49B
2
RHT
Red Hat Inc
RHT
+$218M
3
ATHN
Athenahealth, Inc.
ATHN
+$180M
4
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$178M
5
ARRS
ARRIS International plc Ordinary Shares
ARRS
+$132M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$1.41B
2
ESRX
Express Scripts Holding Company
ESRX
+$1.07B
3
COL
Rockwell Collins
COL
+$619M
4
NXPI icon
NXP Semiconductors
NXPI
+$263M
5
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
+$197M

Sector Composition

Rank Sector Weight
1 Communication Services 10.15%
2 Technology 7.69%
3 Materials 2.92%
4 Healthcare 2.64%
5 Industrials 2.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IIIV icon
151
i3 Verticals
IIIV
$429M
– –
-25,000
Closed -$575K
KMI icon
152
Kinder Morgan
KMI
$69.7B
– –
-205,000
Closed -$3.63M
LTRX icon
153
Lantronix
LTRX
$260M
– –
-50,000
Closed -$204K
OPBK icon
154
OP Bancorp
OPBK
$233M
– –
-25,000
Closed -$290K
PAGS icon
155
PagSeguro Digital
PAGS
$2.62B
– –
-30,000
Closed -$830K
RTX icon
156
CALL
RTX Corp
RTX
$301B
– –
-254,240
Closed -$22.4M
SIRI icon
157
SiriusXM
SIRI
$10.1B
– –
-14,400
Closed -$910K
SYF icon
158
PUT
Synchrony
SYF
$25.6B
– –
-800,000
Closed -$24.9M
TRI icon
159
PUT
Thomson Reuters
TRI
$43.7B
– –
-379,147
Closed -$20.1M
GRTS
160
DELISTED
Gritstone bio, Inc. Common Stock
GRTS
– –
-17,100
Closed -$244K
ARCE
161
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
– –
-20,000
Closed -$456K
FRC
162
DELISTED
First Republic Bank
FRC
– –
-10,000
Closed -$960K
AIMC
163
CALL
DELISTED
Altra Industrial Motion Corp
AIMC
– –
-100,000
Closed -$4.13M
CNR
164
DELISTED
Cornerstone Building Brands, Inc.
CNR
– –
-10,000
Closed -$152K
STXB
165
DELISTED
Spirit of Texas Bancshares, Inc. Common Stock
STXB
– –
-15,000
Closed -$324K
GSKY
166
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
– –
-111,153
Closed -$2M
CONE
167
DELISTED
CyrusOne Inc Common Stock
CONE
– –
-32,500
Closed -$2.06M
CXP
168
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
– –
-160,000
Closed -$3.78M
AKRX
169
DELISTED
Akorn Inc
AKRX
– –
-25,000
Closed -$325K
AKRX
170
PUT
DELISTED
Akorn Inc
AKRX
– –
-540,000
Closed -$7.01M
S
171
DELISTED
Sprint Corporation
S
– –
-10,000
Closed -$65K
CARB
172
DELISTED
Carbonite Inc
CARB
– –
-20,000
Closed -$713K
PSDO
173
DELISTED
Presidio, Inc. Common Stock
PSDO
– –
-100,000
Closed -$1.52M
NXEO
174
DELISTED
Nexeo Solutions, Inc. Common Stock
NXEO
– –
-600,000
Closed -$7.35M
AHL
175
DELISTED
ASPEN Insurance Holding Limited
AHL
– –
-200,000
Closed -$8.36M
4 5 6
7
8

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CS
Candriam SCA Strassen, Luxembourg, Luxembourg $19.3B AUM 39.18% 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
NAM
Nissay Asset Management Tokyo, Japan $18.9B AUM 27.21% 1-Year Est. Return

Pentwater Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Pentwater Capital Management held 194 positions worth $11.7B, down 1% from $11.8B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Pentwater Capital Management deployed $901M of net new capital in Q4 2018, opening 48 new positions and adding to 39 existing holdings. Its largest new stake was Red Hat Inc: 1,373,000 shares worth $241M.

By sector, the portfolio is most concentrated in Communication Services at 10% of assets, up from 7.3% a quarter earlier, followed by Technology and Materials.

On the sell side, the largest reduction was NXP Semiconductors, an estimated $263M trimmed.

  • Pentwater Capital Management's largest Q4 2018 buy was Red Hat Inc: 1,373,000 shares worth $241M.
  • Pentwater Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q4 2018, an estimated $1.49B increase.
  • Pentwater Capital Management's biggest Q4 2018 reduction was NXP Semiconductors, cutting an estimated $263M.
  • Pentwater Capital Management fully exited Aetna Inc in Q4 2018, selling an estimated $1.41B.
  • Pentwater Capital Management's ten largest holdings make up 77% of its $11.7B portfolio in Q4 2018.
  • Pentwater Capital Management opened 48 new positions and closed 57 in Q4 2018.
  • Pentwater Capital Management's portfolio value fell 1% quarter-over-quarter to $11.7B.

Based on Pentwater Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.