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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
(-3.8%)
Cap. Flow
-$489M
Cap. Flow
% of AUM
-14.07%
Top 10 Holdings %
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 |
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 |
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 | |
|---|---|---|---|---|---|---|
|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $353M | 10.15% |
1,910,000
-2,020,000
| -51% | -$358M |
|
|
TWC
2
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $299M | 8.6% |
+2,205,000
| New | +$274M |
|
|
TRQ
3
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $251M | 7.24% |
7,617,598
+3,278,288
| +76% | +$110M |
|
|
4
PUT
American Airlines Group
AAL
$9.58B
| $177M | 5.08% |
+6,995,000
| New | +$180M |
|
5
Zoetis
ZTS
$31.6B
| $173M | 4.99% |
5,300,000
-2,430,000
| -31% | -$77.5M |
|
|
VPHM
6
DELISTED
VIROPHARMA INC
VPHM
| $141M | 4.07% |
2,835,000
+1,585,000
| +127% | +$70.9M |
|
|
LPS
7
DELISTED
LENDER PROCESSING SERVICES INC
LPS
| $140M | 4.04% |
3,757,056
-502,944
| -12% | -$17.4M |
|
|
HMA
8
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
| $104M | 2.99% |
7,925,654
+3,367,654
| +74% | +$43.6M |
|
|
TWX
9
PUT
DELISTED
Time Warner Inc
TWX
| $103M | 2.96% |
+792,680
| New | +$51.2M |
|
10
PUT
JPMorgan Chase
JPM
$939B
| $103M | 2.96% |
1,760,000
+517,600
| +42% | +$28.4M |
|
|
11
American Airlines Group
AAL
$9.58B
| $79.3M | 2.28% |
+3,140,928
| New | +$80.9M |
|
|
LIFE
12
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
| $75.8M | 2.18% |
1,000,000
-1,691,000
| -63% | -$128M |
|
13
PUT
General Motors
GM
$74.7B
| $74.8M | 2.15% |
1,830,000
+680,000
| +59% | +$25.7M |
|
14
LyondellBasell Industries
LYB
$19.5B
| $73.5M | 2.11% |
915,000
-12,200
| -1% | -$935K |
|
|
TRQ.RT
15
DELISTED
TURQUOISE HILL RES LTD RTS EXP 01/07/2014 (DE)
TRQ.RT
| $69.4M | 2% |
+72,306,310
| New | +$63.2M |
|
16
CALL
Vodafone
VOD
$34.9B
| $64.9M | 1.87% |
+1,618,650
| New | +$60.9M |
|
|
APC
17
PUT
DELISTED
Anadarko Petroleum
APC
| $50.8M | 1.46% |
640,000
+41,700
| +7% | +$3.74M |
|
|
18
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $46.2M | 1.33% |
250,000
-20,000
| -7% | -$3.54M |
|
|
APC
19
DELISTED
Anadarko Petroleum
APC
| $44.4M | 1.28% |
560,000
+220,000
| +65% | +$19.7M |
|
|
PACT
20
DELISTED
PACTERA TECHNOLOGY INTL LTD SPONSORED ADR
PACT
| $43.5M | 1.25% |
6,090,000
+30,000
| +0.5% | +$207K |
|
|
JOSB
21
DELISTED
JOS A BANK CLOTHIERS INC
JOSB
| $41.1M | 1.18% |
+750,000
| New | +$38.4M |
|
|
TWX
22
CALL
DELISTED
Time Warner Inc
TWX
| $37.9M | 1.09% |
+292,040
| New | +$18.9M |
|
|
EBIX
23
DELISTED
Ebix Inc
EBIX
| $35.9M | 1.03% |
2,438,500
-1,068,800
| -30% | -$13.7M |
|
|
24
CALL
American Airlines Group
AAL
$9.58B
| $35M | 1.01% |
+1,385,000
| New | +$35.7M |
|
|
25
General Motors
GM
$74.7B
| $32.1M | 0.92% |
784,695
+707,991
| +923% | +$26.7M |
|
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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.