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Pentwater Capital Management Portfolio holdings

AUM $16.4B
1-Year Est. Return 55.44%
This Fund
S&P 500
This Quarter Est. Return
-0.44%
1 Year Est. Return
+55.44%
3 Year Est. Return
+212.86%
5 Year Est. Return
+622.31%
10 Year Est. Return
+4,977.78%
AUM
$13.6B
AUM Growth
-$974M
Cap. Flow
-$995M
Cap. Flow %
-7.3%
Top 10 Hldgs %
65.37%
Holding
134
New
26
Increased
22
Reduced
34
Closed
43

Top Buys

Rank Stock Value
1
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$477M
2
BHC icon
Bausch Health
BHC
+$297M
3
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
+$256M
4
SNDK
SANDISK CORP
SNDK
+$243M
5
ADT
ADT Corp
ADT
+$163M

Top Sells

Rank Stock Value
1
BRCM
BROADCOM CORP CL-A
BRCM
+$1.2B
2
PCP
PRECISION CASTPARTS CORP
PCP
+$761M
3
BHI
Baker Hughes
BHI
+$110M
4
AVOL
AVOLON HLDGS LTD SHS (CYM)
AVOL
+$103M
5
JAH
JARDEN CORPORATION
JAH
+$88M

Sector Composition

Rank Sector Weight
1 Miscellaneous 59.54%
2 Healthcare 16.81%
3 Communication Services 8.68%
4 Technology 3.8%
5 Real Estate 2.6%
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
$810B
$2.36B 17.34%
11,490,800
+3,500,800
+44% +$683M
AGN
2
DELISTED
Allergan plc
AGN
$1.29B 9.47%
4,811,368
+495,000
+11% +$142M
AGN
3
PUT
DELISTED
Allergan plc
AGN
$1.05B 7.74%
3,930,000
-466,000
-11% -$133M
TWC
4
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$999M 7.34%
4,883,400
-302,000
-6% -$57.1M
SNDK
5
DELISTED
SANDISK CORP
SNDK
$704M 5.17%
9,246,900
+3,369,821
+57% +$243M
PFE icon
6
PUT
Pfizer
PFE
$158B
$682M 5.01%
24,242,000
+14,070,900
+138% +$402M
BXLT
7
DELISTED
BAXALTA INC COM STK (DE)
BXLT
$488M 3.58%
12,070,000
+12,060,000
+120,600% +$477M
EMC
8
DELISTED
EMC CORPORATION
EMC
$478M 3.51%
17,939,300
+2,080,000
+13% +$52.7M
SPY icon
9
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$426M 3.13%
2,072,800
-3,097,200
-60% -$604M
HUM icon
10
PUT
Humana
HUM
$48.4B
$420M 3.08%
2,295,000
+1,395,000
+155% +$242M
AGN
11
CALL
DELISTED
Allergan plc
AGN
$319M 2.34%
1,188,300
-303,600
-20% -$86.9M
HOT
12
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$313M 2.3%
+3,751,201
New +$256M
SHPG
13
CALL
DELISTED
Shire pic
SHPG
$308M 2.26%
+1,790,000
New +$300M
TRQ
14
DELISTED
Turquoise Hill Resources Ltd
TRQ
$265M 1.94%
10,417,000
-1,221,430
-10% -$27.6M
HUM icon
15
Humana
HUM
$48.4B
$258M 1.89%
1,410,000
-360,000
-20% -$62.5M
PFE icon
16
CALL
Pfizer
PFE
$158B
$258M 1.89%
9,169,800
+8,115,800
+770% +$232M
SYF icon
17
Synchrony
SYF
$25.6B
$238M 1.75%
8,302,912
+356,497
+4% +$9.9M
SNDK
18
PUT
DELISTED
SANDISK CORP
SNDK
$194M 1.42%
2,550,000
-150,000
-6% -$10.8M
ADT
19
DELISTED
ADT Corp
ADT
$192M 1.41%
+4,660,000
New +$163M
SYF icon
20
PUT
Synchrony
SYF
$25.6B
$182M 1.33%
6,339,900
+6,025,000
+1,913% +$167M
CAM
21
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
$161M 1.18%
2,405,083
+1,477,383
+159% +$94.9M
CVC
22
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
$157M 1.15%
4,760,000
-40,000
-0.8% -$1.29M
BHI
23
PUT
DELISTED
Baker Hughes
BHI
$154M 1.13%
3,504,000
-3,364,400
-49% -$145M
TWC
24
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$123M 0.9%
600,000
-1,180,000
-66% -$223M
BHC icon
25
Bausch Health
BHC
$2.4B
$115M 0.85%
4,391,500
+4,010,500
+1,053% +$297M
1
2 3 4 5

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PAM
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NMO
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Pentwater Capital Management's Q1 2016 Portfolio in Review

As of Q1 2016, Pentwater Capital Management held 134 positions worth $13.6B, down 6.7% from $14.6B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Pentwater Capital Management withdrew a net $995M in Q1 2016, closing 43 positions and reducing 34 holdings. Its most notable exit was BROADCOM CORP CL-A, an estimated $1.2B position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 60% of assets, down from 61% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Pentwater Capital Management opened a new position in STARWOOD HOTELS & RESORTS WORLDWIDE, INC. worth $313M.

  • Pentwater Capital Management's largest Q1 2016 buy was STARWOOD HOTELS & RESORTS WORLDWIDE, INC.: 3,751,201 shares worth $313M.
  • Pentwater Capital Management added most to BAXALTA INC COM STK (DE) in Q1 2016, an estimated $477M increase.
  • Pentwater Capital Management's biggest Q1 2016 reduction was Baker Hughes, cutting an estimated $110M.
  • Pentwater Capital Management fully exited BROADCOM CORP CL-A in Q1 2016, selling an estimated $1.2B.
  • Pentwater Capital Management's ten largest holdings make up 65% of its $13.6B portfolio in Q1 2016.
  • Pentwater Capital Management opened 26 new positions and closed 43 in Q1 2016.
  • Pentwater Capital Management's portfolio value fell 6.7% quarter-over-quarter to $13.6B.

Based on Pentwater Capital Management's 13F filing for Q1 2016, filed 16 May 2016.