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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
+2.72%
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
$3.61B
AUM Growth
-$1.09B
(-23%)
Cap. Flow
-$1.24B
Cap. Flow
% of AUM
-34.43%
Top 10 Holdings %
Top 10 Hldgs %
58.4%
Holding
148
New
48
Increased
25
Reduced
29
Closed
30
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LPS
LENDER PROCESSING SERVICES INC
LPS
|
+$112M |
| 2 |
TRQ
Turquoise Hill Resources Ltd
TRQ
|
+$112M |
| 3 |
SPRD
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
|
+$90M |
| 4 |
CTB
Cooper Tire & Rubber Co.
CTB
|
+$74.9M |
| 5 |
HMA
HEALTH MGMT ASSOC INC CL-A
HMA
|
+$63.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$783M |
| 2 |
FON
SPRINT CORP FON COM
FON
|
+$606M |
| 3 |
Zoetis
ZTS
|
+$257M |
| 4 |
GDI
GARDNER DENVER,INC
GDI
|
+$144M |
| 5 |
BMC
BMC SOFTWARE, INC
BMC
|
+$121M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 12.23% |
| 2 | Industrials | 7.29% |
| 3 | Materials | 6.06% |
| 4 | Consumer Discretionary | 2.93% |
| 5 | Financials | 2.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $660M | 18.27% |
3,930,000
+1,090,000
| +38% | +$183M |
|
|
DELL
2
DELISTED
DELL INC
DELL
| $331M | 9.16% |
24,074,000
+1,651,488
| +7% | +$22.4M |
|
|
3
Zoetis
ZTS
$31.6B
| $241M | 6.66% |
7,730,000
-8,376,051
| -52% | -$257M |
|
|
LIFE
4
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
| $201M | 5.57% |
2,691,000
-49,542
| -2% | -$3.7M |
|
|
TRQ
5
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $148M | 4.09% |
4,339,310
+2,832,405
| +188% | +$112M |
|
|
LPS
6
DELISTED
LENDER PROCESSING SERVICES INC
LPS
| $142M | 3.92% |
4,260,000
+3,460,000
| +433% | +$112M |
|
|
ELN
7
DELISTED
ELAN CORP ADS(RP1 ORD4IRISH PN
ELN
| $116M | 3.21% |
7,440,000
+3,590,000
| +93% | +$54.1M |
|
|
SPRD
8
DELISTED
SPREADTRUM COMMUNICATIONS INC ADS (CAYMAN ISLANDS)
SPRD
| $105M | 2.9% |
3,441,332
+3,041,332
| +760% | +$90M |
|
|
STEI
9
DELISTED
STEWART ENTERPRISES INC CL-A
STEI
| $84.5M | 2.34% |
6,425,000
-1,175,000
| -15% | -$15.4M |
|
|
10
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $82.3M | 2.28% |
490,000
+345,000
| +238% | +$57.8M |
|
|
CTB
11
DELISTED
Cooper Tire & Rubber Co.
CTB
| $70.8M | 1.96% |
+2,300,000
| New | +$74.9M |
|
12
LyondellBasell Industries
LYB
$19.5B
| $67.9M | 1.88% |
927,200
-734,875
| -44% | -$51.2M |
|
13
PUT
JPMorgan Chase
JPM
$939B
| $64.2M | 1.78% |
1,242,400
+782,400
| +170% | +$42M |
|
|
HMA
14
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
| $58.3M | 1.61% |
+4,558,000
| New | +$63.3M |
|
|
APC
15
PUT
DELISTED
Anadarko Petroleum
APC
| $55.6M | 1.54% |
598,300
+332,400
| +125% | +$30.2M |
|
|
WMS
16
DELISTED
WMS INDS INC
WMS
| $54.4M | 1.5% |
2,094,503
-257,545
| -11% | -$6.64M |
|
|
OMX
17
DELISTED
OFFICEMAX INCORPORATED
OMX
| $53.3M | 1.48% |
+4,167,800
| New | +$47.1M |
|
|
VPHM
18
DELISTED
VIROPHARMA INC
VPHM
| $49.1M | 1.36% |
+1,250,000
| New | +$40.9M |
|
|
ONXX
19
PUT
DELISTED
ONYX PHARMACEUTICALS INC
ONXX
| $46.6M | 1.29% |
+373,500
| New | +$47.3M |
|
|
20
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $45.4M | 1.26% |
270,000
-470,000
| -64% | -$78.8M |
|
21
PUT
General Motors
GM
$74.7B
| $41.4M | 1.14% |
1,150,000
| – | – |
|
|
BLC
22
DELISTED
BELO CORP SER A
BLC
| $39M | 1.08% |
2,844,714
-255,824
| -8% | -$3.62M |
|
|
PACT
23
DELISTED
PACTERA TECHNOLOGY INTL LTD SPONSORED ADR
PACT
| $35.7M | 0.99% |
6,060,000
+4,709,693
| +349% | +$31.3M |
|
|
EBIX
24
DELISTED
Ebix Inc
EBIX
| $34.9M | 0.96% |
3,507,300
+1,956,700
| +126% | +$21.3M |
|
|
SIX
25
DELISTED
Six Flags Entertainment Corp.
SIX
| $33.3M | 0.92% |
985,000
-103,000
| -9% | -$3.64M |
|
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Pentwater Capital Management's Q3 2013 Portfolio in Review
As of Q3 2013, Pentwater Capital Management held 148 positions worth $3.61B, down 23% from $4.71B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Pentwater Capital Management withdrew a net $1.24B in Q3 2013, closing 30 positions and reducing 29 holdings. Its most notable exit was Pfizer, an estimated $783M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 12% of assets, down from 28% a quarter earlier, followed by Industrials and Materials.
Against the trend, Pentwater Capital Management opened a new position in Cooper Tire & Rubber Co. worth $70.8M.
- Pentwater Capital Management's largest Q3 2013 buy was Cooper Tire & Rubber Co.: 2,300,000 shares worth $70.8M.
- Pentwater Capital Management added most to LENDER PROCESSING SERVICES INC in Q3 2013, an estimated $112M increase.
- Pentwater Capital Management's biggest Q3 2013 reduction was Zoetis, cutting an estimated $257M.
- Pentwater Capital Management fully exited Pfizer in Q3 2013, selling an estimated $783M.
- Pentwater Capital Management's ten largest holdings make up 58% of its $3.61B portfolio in Q3 2013.
- Pentwater Capital Management opened 48 new positions and closed 30 in Q3 2013.
- Pentwater Capital Management's portfolio value fell 23% quarter-over-quarter to $3.61B.
Based on Pentwater Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.