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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
+13.51%
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
$9.42B
AUM Growth
+$5.67B
(+151%)
Cap. Flow
+$5.11B
Cap. Flow
% of AUM
54.25%
Top 10 Holdings %
Top 10 Hldgs %
55%
Holding
202
New
79
Increased
35
Reduced
26
Closed
48
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PARA
Paramount Global Class B
PARA
|
+$961M |
| 2 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$739M |
| 3 |
AGN
Allergan Inc
AGN
|
+$610M |
| 4 |
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
|
+$195M |
| 5 |
HSH
HILLSHIRE BRANDS CO
HSH
|
+$125M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BEAM
BEAM INC COM STK (DE)
BEAM
|
+$137M |
| 2 |
JOSB
JOS A BANK CLOTHIERS INC
JOSB
|
+$136M |
| 3 |
Vodafone
VOD
|
+$105M |
| 4 |
TRQ
Turquoise Hill Resources Ltd
TRQ
|
+$43.5M |
| 5 |
AMAP
AUTONAVI HLDGS LTD SPON ADR (CYM)
AMAP
|
+$35.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 15.84% |
| 2 | Communication Services | 15.3% |
| 3 | Technology | 8.51% |
| 4 | Materials | 4.98% |
| 5 | Consumer Discretionary | 2.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PARA
1
DELISTED
Paramount Global Class B
PARA
| $1.01B | 10.68% |
16,198,198
+16,138,198
| +26,897% | +$961M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $861M | 9.14% |
4,400,000
+1,260,000
| +40% | +$240M |
|
|
DTV
3
DELISTED
DIRECTV COM STK (DE)
DTV
| $771M | 8.18% |
+9,069,100
| New | +$739M |
|
|
AGN
4
DELISTED
Allergan Inc
AGN
| $663M | 7.04% |
+3,917,800
| New | +$610M |
|
|
TWC
5
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $376M | 3.99% |
2,551,500
+81,500
| +3% | +$11.4M |
|
|
TRQ
6
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $374M | 3.97% |
11,192,433
-1,175,787
| -10% | -$43.5M |
|
|
7
CALL
Vodafone
VOD
$34.9B
| $305M | 3.24% |
8,680,000
+3,861,200
| +80% | +$137M |
|
|
AGN
8
PUT
DELISTED
Allergan Inc
AGN
| $280M | 2.98% |
+1,657,600
| New | +$258M |
|
|
PARAA
9
PUT
DELISTED
Paramount Global Class A
PARAA
| $280M | 2.97% |
4,498,500
+4,438,500
| +7,398% | +$265M |
|
|
TWC
10
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $265M | 2.81% |
+1,800,000
| New | +$253M |
|
|
COV
11
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
| $235M | 2.49% |
+2,602,519
| New | +$195M |
|
|
DTV
12
PUT
DELISTED
DIRECTV COM STK (DE)
DTV
| $215M | 2.28% |
+2,532,000
| New | +$206M |
|
13
Zoetis
ZTS
$31.6B
| $185M | 1.97% |
5,742,067
+542,067
| +10% | +$16.6M |
|
|
FRX
14
DELISTED
FOREST LABORATORIES INC
FRX
| $179M | 1.9% |
1,805,700
+1,305,700
| +261% | +$122M |
|
|
HSH
15
DELISTED
HILLSHIRE BRANDS CO
HSH
| $172M | 1.83% |
+2,766,000
| New | +$125M |
|
|
DTV
16
CALL
DELISTED
DIRECTV COM STK (DE)
DTV
| $163M | 1.73% |
1,920,000
+1,760,000
| +1,100% | +$143M |
|
17
PUT
Comcast
CMCSA
$79.7B
| $147M | 1.56% |
+5,465,000
| New | +$140M |
|
18
CALL
AstraZeneca
AZN
$263B
| $141M | 1.5% |
+1,900,000
| New | +$137M |
|
|
QCOR
19
PUT
DELISTED
QUESTCOR PHARMA INC
QCOR
| $140M | 1.49% |
+1,515,800
| New | +$130M |
|
20
General Motors
GM
$74.7B
| $138M | 1.46% |
3,789,890
+1,194,301
| +46% | +$41.6M |
|
|
WBA
21
CALL
DELISTED
Walgreens Boots Alliance
WBA
| $119M | 1.27% |
+1,610,000
| New | +$112M |
|
|
22
PUT
AstraZeneca
AZN
$263B
| $118M | 1.25% |
+1,590,000
| New | +$115M |
|
|
23
PUT
General Motors
GM
$74.7B
| $115M | 1.22% |
3,175,500
+1,445,500
| +84% | +$50.4M |
|
24
PUT
AT&T
T
$165B
| $110M | 1.16% |
+4,104,400
| New | +$110M |
|
|
WBA
25
PUT
DELISTED
Walgreens Boots Alliance
WBA
| $106M | 1.13% |
+1,430,000
| New | +$99.9M |
|
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Pentwater Capital Management's Q2 2014 Portfolio in Review
As of Q2 2014, Pentwater Capital Management held 202 positions worth $9.42B, up 151% from $3.75B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Pentwater Capital Management deployed $5.11B of net new capital in Q2 2014, opening 79 new positions and adding to 35 existing holdings. Its largest new stake was DIRECTV COM STK (DE): 9,069,100 shares worth $771M.
By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 5.9% a quarter earlier, followed by Communication Services and Technology.
On the sell side, the largest reduction was Vodafone, an estimated $105M trimmed.
- Pentwater Capital Management's largest Q2 2014 buy was DIRECTV COM STK (DE): 9,069,100 shares worth $771M.
- Pentwater Capital Management added most to Paramount Global Class B in Q2 2014, an estimated $961M increase.
- Pentwater Capital Management's biggest Q2 2014 reduction was Vodafone, cutting an estimated $105M.
- Pentwater Capital Management fully exited BEAM INC COM STK (DE) in Q2 2014, selling an estimated $137M.
- Pentwater Capital Management's ten largest holdings make up 55% of its $9.42B portfolio in Q2 2014.
- Pentwater Capital Management opened 79 new positions and closed 48 in Q2 2014.
- Pentwater Capital Management's portfolio value rose 151% quarter-over-quarter to $9.42B.
Based on Pentwater Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.