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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
+8.65%
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
$10.4B
AUM Growth
+$973M
Cap. Flow
+$812M
Cap. Flow %
7.81%
Top 10 Hldgs %
48.6%
Holding
224
New
70
Increased
35
Reduced
44
Closed
43

Top Buys

Rank Stock Value
1
THI
TIM HORTONS INC COM, CANADA
THI
+$454M
2
TRW
TRW AUTOMOTIVE HOLDINGS CORP
TRW
+$430M
3
SLXP
SALIX PHARMACEUTICALS LTD DEL
SLXP
+$290M
4
OUT icon
Outfront Media
OUT
+$150M
5
BRSL
Brightstar Lottery PLC
BRSL
+$145M

Top Sells

Rank Stock Value
1
PARA
Paramount Global Class B
PARA
+$867M
2
FRX
FOREST LABORATORIES INC
FRX
+$179M
3
HSH
HILLSHIRE BRANDS CO
HSH
+$172M
4
WY icon
Weyerhaeuser
WY
+$88.7M
5
QCOR
QUESTCOR PHARMA INC
QCOR
+$79.1M

Sector Composition

Rank Sector Weight
1 Healthcare 15.69%
2 Technology 9.71%
3 Consumer Discretionary 8.68%
4 Communication Services 4.96%
5 Materials 4.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DTV
1
DELISTED
DIRECTV COM STK (DE)
DTV
$918M 8.83%
10,610,000
+1,540,900
+17% +$133M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$727M 6.99%
3,690,000
-710,000
-16% -$140M
AGN
3
DELISTED
Allergan Inc
AGN
$650M 6.25%
3,648,338
-269,462
-7% -$44.8M
THI
4
DELISTED
TIM HORTONS INC COM, CANADA
THI
$536M 5.15%
+6,797,200
New +$454M
TRW
5
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
$435M 4.19%
+4,300,000
New +$430M
TRQ
6
DELISTED
Turquoise Hill Resources Ltd
TRQ
$420M 4.04%
11,220,990
+28,557
+0.3% +$1.01M
TWC
7
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$373M 3.59%
2,600,000
+48,500
+2% +$7.2M
COV
8
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
$343M 3.3%
3,960,000
+1,357,481
+52% +$120M
AGN
9
PUT
DELISTED
Allergan Inc
AGN
$338M 3.25%
1,897,600
+240,000
+14% +$39.9M
SLXP
10
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$312M 3.01%
+2,000,000
New +$290M
VOD icon
11
CALL
Vodafone
VOD
$34.9B
$305M 2.94%
8,680,000
– –
BHC icon
12
Bausch Health
BHC
$1.65B
$205M 1.97%
1,559,527
+773,680
+98% +$92.2M
SLXP
13
PUT
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$194M 1.87%
+1,241,000
New +$180M
TWC
14
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$187M 1.79%
1,300,000
-500,000
-28% -$74.3M
DTV
15
PUT
DELISTED
DIRECTV COM STK (DE)
DTV
$184M 1.77%
2,130,000
-402,000
-16% -$34.6M
DTV
16
CALL
DELISTED
DIRECTV COM STK (DE)
DTV
$166M 1.6%
1,920,000
– –
ZTS icon
17
Zoetis
ZTS
$31.6B
$157M 1.51%
4,250,000
-1,492,067
-26% -$51.1M
KMR
18
DELISTED
KINDER MORGAN MANAGEMENT LLC
KMR
$153M 1.47%
+1,647,343
New +$142M
T icon
19
PUT
AT&T
T
$165B
$152M 1.46%
5,693,200
+1,588,800
+39% +$42.3M
BRSL
20
Brightstar Lottery PLC
BRSL
$1.91B
$151M 1.45%
8,950,000
+8,739,800
+4,158% +$145M
FDO
21
DELISTED
FAMILY DOLLAR STORES
FDO
$142M 1.37%
+1,840,000
New +$136M
OUT icon
22
Outfront Media
OUT
$5.64B
$139M 1.33%
6,189,258
+6,135,828
+11,484% +$150M
GM icon
23
General Motors
GM
$74.7B
$128M 1.24%
4,019,692
+229,802
+6% +$8.01M
AZN icon
24
CALL
AstraZeneca
AZN
$263B
$125M 1.2%
1,750,000
-150,000
-8% -$11M
BHC icon
25
CALL
Bausch Health
BHC
$1.65B
$115M 1.11%
880,000
+500,000
+132% +$59.6M
1
2 3 4 5

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CS
Candriam SCA Strassen, Luxembourg, Luxembourg $19.3B AUM 39.18% 1-Year Est. Return
MGP
M&G plc London, United Kingdom $19.4B AUM 16.7% 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
SOMRS
State of Michigan Retirement System Lansing, Michigan $18.9B AUM 27.96% 1-Year Est. Return

Pentwater Capital Management's Q3 2014 Portfolio in Review

As of Q3 2014, Pentwater Capital Management held 224 positions worth $10.4B, up 10% from $9.42B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Pentwater Capital Management deployed $812M of net new capital in Q3 2014, opening 70 new positions and adding to 35 existing holdings. Its largest new stake was TIM HORTONS INC COM, CANADA: 6,797,200 shares worth $536M.

By sector, the portfolio is most concentrated in Healthcare at 16% of assets, down from 16% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was Paramount Global Class B, an estimated $867M trimmed.

  • Pentwater Capital Management's largest Q3 2014 buy was TIM HORTONS INC COM, CANADA: 6,797,200 shares worth $536M.
  • Pentwater Capital Management added most to Outfront Media in Q3 2014, an estimated $150M increase.
  • Pentwater Capital Management's biggest Q3 2014 reduction was Paramount Global Class B, cutting an estimated $867M.
  • Pentwater Capital Management fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $179M.
  • Pentwater Capital Management's ten largest holdings make up 49% of its $10.4B portfolio in Q3 2014.
  • Pentwater Capital Management opened 70 new positions and closed 43 in Q3 2014.
  • Pentwater Capital Management's portfolio value rose 10% quarter-over-quarter to $10.4B.

Based on Pentwater Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.