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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
-1.47%
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
$11.4B
AUM Growth
-$7.46B
(-40%)
Cap. Flow
-$6.58B
Cap. Flow
% of AUM
-57.74%
Top 10 Holdings %
Top 10 Hldgs %
57.68%
Holding
203
New
39
Increased
27
Reduced
53
Closed
69
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PCP
PRECISION CASTPARTS CORP
PCP
|
+$714M |
| 2 |
CVC
CABLEVISION SYS CP NY GRP CL-A
CVC
|
+$144M |
| 3 |
ALTR
Altera Corp
ALTR
|
+$132M |
| 4 |
BEE
STRATEGIC HOTELS & RESORTS, INC
BEE
|
+$113M |
| 5 |
CAM
CAMERON INTERNATIONAL CORPORATION
CAM
|
+$110M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$1.13B |
| 2 |
HSP
HOSPIRA INC
HSP
|
+$639M |
| 3 |
PLL
PALL CORP
PLL
|
+$616M |
| 4 |
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
|
+$611M |
| 5 |
FDO
FAMILY DOLLAR STORES
FDO
|
+$459M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 10.88% |
| 2 | Industrials | 8.45% |
| 3 | Healthcare | 7.68% |
| 4 | Energy | 6.07% |
| 5 | Materials | 3.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BRCM
1
DELISTED
BROADCOM CORP CL-A
BRCM
| $1.14B | 9.98% |
22,100,982
+1,487,007
| +7% | +$76.5M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $1.02B | 8.97% |
5,335,000
-7,205,000
| -57% | -$1.46B |
|
|
TWC
3
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $956M | 8.39% |
5,330,400
-135,400
| -2% | -$25.3M |
|
|
PCP
4
DELISTED
PRECISION CASTPARTS CORP
PCP
| $764M | 6.7% |
+3,325,000
| New | +$714M |
|
|
ALTR
5
DELISTED
Altera Corp
ALTR
| $694M | 6.09% |
13,850,000
+2,650,000
| +24% | +$132M |
|
|
6
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $569M | 5% |
2,970,000
+2,400,000
| +421% | +$487M |
|
|
BHI
7
DELISTED
Baker Hughes
BHI
| $429M | 3.77% |
8,245,000
+1,390,856
| +20% | +$77.7M |
|
|
TWC
8
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $337M | 2.96% |
1,880,000
-4,480,000
| -70% | -$837M |
|
9
Humana
HUM
$46.7B
| $336M | 2.95% |
1,879,400
-170,600
| -8% | -$31.5M |
|
|
BHI
10
PUT
DELISTED
Baker Hughes
BHI
| $327M | 2.87% |
6,290,000
+1,880,000
| +43% | +$105M |
|
11
Perrigo
PRGO
$1.4B
| $316M | 2.77% |
2,010,000
-300,000
| -13% | -$55M |
|
|
TRQ
12
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $298M | 2.61% |
11,670,720
-231,280
| -2% | -$7.35M |
|
|
ALTR
13
PUT
DELISTED
Altera Corp
ALTR
| $276M | 2.42% |
5,509,800
-2,740,200
| -33% | -$136M |
|
|
14
PUT
Perrigo
PRGO
$1.4B
| $259M | 2.27% |
1,646,100
-54,600
| -3% | -$10M |
|
15
PUT
Broadcom
AVGO
$1.82T
| $184M | 1.61% |
14,700,000
+6,100,000
| +71% | +$77.1M |
|
|
SIAL
16
DELISTED
SIGMA - ALDRICH CORP
SIAL
| $181M | 1.59% |
1,301,000
+276,000
| +27% | +$38.5M |
|
|
CVC
17
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
| $172M | 1.51% |
+5,300,000
| New | +$144M |
|
|
FSL
18
DELISTED
FREESCALE SEMICONDUCTOR LTD
FSL
| $153M | 1.34% |
4,175,000
+71,772
| +2% | +$2.69M |
|
19
Williams Companies
WMB
$90.5B
| $128M | 1.12% |
3,477,521
-1,187,129
| -25% | -$59.1M |
|
|
20
PUT
Williams Companies
WMB
$90.5B
| $126M | 1.1% |
3,410,000
-1,453,400
| -30% | -$72.4M |
|
|
CAM
21
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
| $123M | 1.08% |
+2,000,000
| New | +$110M |
|
|
BEE
22
DELISTED
STRATEGIC HOTELS & RESORTS, INC
BEE
| $115M | 1.01% |
+8,324,227
| New | +$113M |
|
|
23
PUT
Humana
HUM
$46.7B
| $111M | 0.97% |
620,000
-1,572,000
| -72% | -$291M |
|
|
TRAK
24
DELISTED
DEALERTRACK TECHNOLOGIES, INC. COM STK
TRAK
| $109M | 0.95% |
1,719,205
+1,513,022
| +734% | +$94.5M |
|
|
AVOL
25
DELISTED
AVOLON HLDGS LTD SHS (CYM)
AVOL
| $101M | 0.89% |
3,315,000
+3,167,614
| +2,149% | +$88.5M |
|
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Pentwater Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Pentwater Capital Management held 203 positions worth $11.4B, down 40% from $18.8B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Pentwater Capital Management withdrew a net $6.58B in Q3 2015, closing 69 positions and reducing 53 holdings. Its most notable exit was DIRECTV COM STK (DE), an estimated $1.13B position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 11% of assets, up from 6.7% a quarter earlier, followed by Industrials and Healthcare.
Against the trend, Pentwater Capital Management opened a new position in PRECISION CASTPARTS CORP worth $764M.
- Pentwater Capital Management's largest Q3 2015 buy was PRECISION CASTPARTS CORP: 3,325,000 shares worth $764M.
- Pentwater Capital Management added most to Altera Corp in Q3 2015, an estimated $132M increase.
- Pentwater Capital Management's biggest Q3 2015 reduction was Charter Communications, cutting an estimated $176M.
- Pentwater Capital Management fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $1.13B.
- Pentwater Capital Management's ten largest holdings make up 58% of its $11.4B portfolio in Q3 2015.
- Pentwater Capital Management opened 39 new positions and closed 69 in Q3 2015.
- Pentwater Capital Management's portfolio value fell 40% quarter-over-quarter to $11.4B.
Based on Pentwater Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.