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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
+22.84%
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
$13.4B
AUM Growth
-$687M
Cap. Flow
-$1.53B
Cap. Flow %
-11.43%
Top 10 Hldgs %
54.68%
Holding
208
New
60
Increased
39
Reduced
32
Closed
54

Top Buys

Rank Stock Value
1
HSP
HOSPIRA INC
HSP
+$486M
2
PCYC
PHARMACYCLICS INC
PCYC
+$431M
3
SLXP
SALIX PHARMACEUTICALS LTD DEL
SLXP
+$333M
4
FDO
FAMILY DOLLAR STORES
FDO
+$260M
5
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
+$183M

Top Sells

Rank Stock Value
1
AGN
Allergan Inc
AGN
+$1.19B
2
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
+$802M
3
CFN
CAREFUSION CORPORATION
CFN
+$430M
4
CBST
CUBIST PHARMACEUTICALS INC
CBST
+$261M
5
CVD
COVANCE INC.
CVD
+$146M

Sector Composition

Rank Sector Weight
1 Technology 8.81%
2 Consumer Discretionary 6.52%
3 Healthcare 5.43%
4 Energy 4.55%
5 Consumer Staples 3.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$2.02B 15.11%
9,790,000
+2,600,000
+36% +$537M
DTV
2
DELISTED
DIRECTV COM STK (DE)
DTV
$953M 7.12%
11,194,400
+502,000
+5% +$43.4M
TWC
3
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$895M 6.69%
5,970,000
+2,100,000
+54% +$313M
SLXP
4
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$652M 4.87%
3,771,200
+2,266,200
+151% +$333M
PCYC
5
DELISTED
PHARMACYCLICS INC
PCYC
$572M 4.27%
+2,233,000
New +$431M
HSP
6
DELISTED
HOSPIRA INC
HSP
$545M 4.07%
+6,200,000
New +$486M
TWC
7
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$434M 3.24%
2,895,000
+255,000
+10% +$38M
TRQ
8
DELISTED
Turquoise Hill Resources Ltd
TRQ
$429M 3.21%
13,755,000
+460,360
+3% +$13.9M
FDO
9
DELISTED
FAMILY DOLLAR STORES
FDO
$407M 3.04%
5,135,000
+3,335,000
+185% +$260M
BHI
10
DELISTED
Baker Hughes
BHI
$405M 3.03%
6,375,000
+305,000
+5% +$18.4M
AGN
11
CALL
DELISTED
Allergan plc
AGN
$368M 2.75%
1,235,000
+458,200
+59% +$131M
TRW
12
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
$362M 2.71%
3,450,000
-1,400,100
-29% -$145M
T icon
13
CALL
AT&T
T
$165B
$350M 2.62%
14,180,040
+2,012,480
+17% +$51.2M
BHI
14
PUT
DELISTED
Baker Hughes
BHI
$257M 1.93%
4,050,000
+100,000
+3% +$6.03M
DRC
15
DELISTED
DRESSER-RAND GROUP INC
DRC
$257M 1.92%
3,200,000
+1,180,000
+58% +$95.6M
CTRX
16
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
$214M 1.6%
+3,600,000
New +$183M
DTV
17
CALL
DELISTED
DIRECTV COM STK (DE)
DTV
$200M 1.5%
2,350,000
-20,000
-0.8% -$1.73M
AGN
18
PUT
DELISTED
Allergan plc
AGN
$188M 1.4%
+630,000
New +$180M
DTV
19
PUT
DELISTED
DIRECTV COM STK (DE)
DTV
$181M 1.36%
2,130,000
+550,000
+35% +$47.5M
TLM
20
DELISTED
TALISMAN ENERGY INC
TLM
$163M 1.22%
21,220,000
+8,553,200
+68% +$65.4M
XLS
21
DELISTED
EXELIS INC COM STK
XLS
$151M 1.13%
+6,200,000
New +$132M
T icon
22
PUT
AT&T
T
$165B
$145M 1.08%
5,878,560
+397,200
+7% +$10.1M
CMCSA icon
23
CALL
Comcast
CMCSA
$79.1B
$140M 1.05%
4,960,000
+2,360,000
+91% +$67.8M
SPY icon
24
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$128M 0.96%
621,750
+400,000
+180% +$82.5M
ODP
25
DELISTED
ODP
ODP
$126M 0.94%
+1,370,000
New +$122M
1
2 3 4 5

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Pentwater Capital Management's Q1 2015 Portfolio in Review

As of Q1 2015, Pentwater Capital Management held 208 positions worth $13.4B, down 4.9% from $14.1B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Pentwater Capital Management withdrew a net $1.53B in Q1 2015, closing 54 positions and reducing 32 holdings. Its most notable exit was Allergan Inc, an estimated $1.19B position sold in full.

By sector, the portfolio is most concentrated in Technology at 8.8% of assets, up from 7.1% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Pentwater Capital Management opened a new position in HOSPIRA INC worth $545M.

  • Pentwater Capital Management's largest Q1 2015 buy was HOSPIRA INC: 6,200,000 shares worth $545M.
  • Pentwater Capital Management added most to SALIX PHARMACEUTICALS LTD DEL in Q1 2015, an estimated $333M increase.
  • Pentwater Capital Management's biggest Q1 2015 reduction was TRW AUTOMOTIVE HOLDINGS CORP, cutting an estimated $145M.
  • Pentwater Capital Management fully exited Allergan Inc in Q1 2015, selling an estimated $1.19B.
  • Pentwater Capital Management's ten largest holdings make up 55% of its $13.4B portfolio in Q1 2015.
  • Pentwater Capital Management opened 60 new positions and closed 54 in Q1 2015.
  • Pentwater Capital Management's portfolio value fell 4.9% quarter-over-quarter to $13.4B.

Based on Pentwater Capital Management's 13F filing for Q1 2015, filed 15 May 2015.