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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
+14.48%
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
$7.49B
AUM Growth
-$6.13B
(-45%)
Cap. Flow
-$6.08B
Cap. Flow
% of AUM
-81.27%
Top 10 Holdings %
Top 10 Hldgs %
62.17%
Holding
135
New
43
Increased
17
Reduced
31
Closed
31
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LNKD
LinkedIn Corporation
LNKD
|
+$361M |
| 2 |
MDVN
MEDIVATION, INC.
MDVN
|
+$243M |
| 3 |
ALR
Alere Inc
ALR
|
+$139M |
| 4 |
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
|
+$134M |
| 5 |
EMC
EMC CORPORATION
EMC
|
+$126M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$999M |
| 2 |
SNDK
SANDISK CORP
SNDK
|
+$704M |
| 3 |
AGN
Allergan plc
AGN
|
+$703M |
| 4 |
BXLT
BAXALTA INC COM STK (DE)
BXLT
|
+$488M |
| 5 |
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
|
+$285M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 13.14% |
| 2 | Technology | 10.29% |
| 3 | Communication Services | 7.5% |
| 4 | Materials | 5.77% |
| 5 | Financials | 2.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $1.39B | 18.55% |
6,630,000
-4,860,800
| -42% | -$1.01B |
|
|
EMC
2
DELISTED
EMC CORPORATION
EMC
| $614M | 8.2% |
22,604,300
+4,665,000
| +26% | +$126M |
|
|
LNKD
3
DELISTED
LinkedIn Corporation
LNKD
| $492M | 6.58% |
+2,601,499
| New | +$361M |
|
4
PUT
Humana
HUM
$46.7B
| $466M | 6.22% |
2,590,000
+295,000
| +13% | +$52.4M |
|
|
AGN
5
DELISTED
Allergan plc
AGN
| $407M | 5.44% |
1,760,868
-3,050,500
| -63% | -$703M |
|
|
TRQ
6
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $311M | 4.15% |
9,188,000
-1,229,000
| -12% | -$35.6M |
|
|
AGN
7
CALL
DELISTED
Allergan plc
AGN
| $273M | 3.64% |
1,180,000
-8,300
| -0.7% | -$1.91M |
|
|
MDVN
8
DELISTED
MEDIVATION, INC.
MDVN
| $258M | 3.45% |
+4,280,000
| New | +$243M |
|
|
9
Humana
HUM
$46.7B
| $239M | 3.19% |
1,327,500
-82,500
| -6% | -$14.7M |
|
10
Synchrony
SYF
$23.7B
| $205M | 2.74% |
8,122,912
-180,000
| -2% | -$5.24M |
|
11
CALL
Pfizer
PFE
$140B
| $201M | 2.68% |
6,007,800
-3,162,000
| -34% | -$101M |
|
|
AGN
12
PUT
DELISTED
Allergan plc
AGN
| $176M | 2.35% |
762,000
-3,168,000
| -81% | -$730M |
|
|
RAD
13
DELISTED
Rite Aid Corporation
RAD
| $149M | 1.99% |
992,500
+292,500
| +42% | +$46.1M |
|
|
ALR
14
DELISTED
Alere Inc
ALR
| $133M | 1.78% |
+3,200,000
| New | +$139M |
|
|
QIHU
15
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| $132M | 1.77% |
+1,812,500
| New | +$134M |
|
|
MDVN
16
PUT
DELISTED
MEDIVATION, INC.
MDVN
| $128M | 1.71% |
+2,123,000
| New | +$120M |
|
|
QIHU
17
PUT
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| $109M | 1.46% |
+1,496,700
| New | +$111M |
|
|
18
PUT
Synchrony
SYF
$23.7B
| $108M | 1.44% |
4,276,900
-2,063,000
| -33% | -$60.1M |
|
|
RAD
19
PUT
DELISTED
Rite Aid Corporation
RAD
| $105M | 1.4% |
700,000
+231,100
| +49% | +$36.4M |
|
|
CPGX
20
DELISTED
COLUMBIA PIPELINE GROUP IN COM STK (DE)
CPGX
| $98.4M | 1.31% |
+3,859,800
| New | +$98.4M |
|
|
VMW
21
CALL
DELISTED
VMware, Inc
VMW
| $88.7M | 1.18% |
1,550,000
+700,000
| +82% | +$40.4M |
|
22
Bausch Health
BHC
$1.65B
| $78.6M | 1.05% |
3,902,000
-489,500
| -11% | -$13.9M |
|
|
STJ
23
DELISTED
St Jude Medical
STJ
| $76.9M | 1.03% |
+986,000
| New | +$70.3M |
|
|
24
PUT
Bausch Health
BHC
$1.65B
| $75.9M | 1.01% |
3,770,300
+1,350,500
| +56% | +$38.2M |
|
|
DRII
25
DELISTED
DIAMOND RESORTS INTL, INC
DRII
| $72.5M | 0.97% |
2,420,000
+364,600
| +18% | +$8.26M |
|
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Pentwater Capital Management's Q2 2016 Portfolio in Review
As of Q2 2016, Pentwater Capital Management held 135 positions worth $7.49B, down 45% from $13.6B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Pentwater Capital Management withdrew a net $6.08B in Q2 2016, closing 31 positions and reducing 31 holdings. Its most notable exit was TIME WARNER CABLE INC NEW COM STK, an estimated $999M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 13% of assets, up from 12% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Pentwater Capital Management opened a new position in LinkedIn Corporation worth $492M.
- Pentwater Capital Management's largest Q2 2016 buy was LinkedIn Corporation: 2,601,499 shares worth $492M.
- Pentwater Capital Management added most to EMC CORPORATION in Q2 2016, an estimated $126M increase.
- Pentwater Capital Management's biggest Q2 2016 reduction was Allergan plc, cutting an estimated $703M.
- Pentwater Capital Management fully exited TIME WARNER CABLE INC NEW COM STK in Q2 2016, selling an estimated $999M.
- Pentwater Capital Management's ten largest holdings make up 62% of its $7.49B portfolio in Q2 2016.
- Pentwater Capital Management opened 43 new positions and closed 31 in Q2 2016.
- Pentwater Capital Management's portfolio value fell 45% quarter-over-quarter to $7.49B.
Based on Pentwater Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.