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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
+5.63%
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
$7.82B
AUM Growth
-$2.96B
(-27%)
Cap. Flow
-$3.19B
Cap. Flow
% of AUM
-40.8%
Top 10 Holdings %
Top 10 Hldgs %
61.53%
Holding
158
New
37
Increased
30
Reduced
25
Closed
45
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NXP Semiconductors
NXPI
|
+$762M |
| 2 |
LVLT
Level 3 Communications Inc
LVLT
|
+$454M |
| 3 |
Humana
HUM
|
+$74.4M |
| 4 |
ENH
Endurance Specialty Holdings Ltd
ENH
|
+$36.7M |
| 5 |
IOC
Interoil Corporation
IOC
|
+$30.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$1.72B |
| 2 |
LNKD
LinkedIn Corporation
LNKD
|
+$693M |
| 3 |
Synchrony
SYF
|
+$241M |
| 4 |
AGN
Allergan plc
AGN
|
+$217M |
| 5 |
Coty
COTY
|
+$174M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 14.32% |
| 2 | Healthcare | 7.08% |
| 3 | Industrials | 6.36% |
| 4 | Materials | 4.61% |
| 5 | Energy | 2.07% |
| 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
| $1.56B | 19.95% |
6,980,000
-1,480,000
| -17% | -$323M |
|
|
2
NXP Semiconductors
NXPI
$68B
| $838M | 10.72% |
8,554,300
+7,664,300
| +861% | +$762M |
|
|
3
PUT
Humana
HUM
$46.7B
| $561M | 7.17% |
2,750,000
+450,000
| +20% | +$85.8M |
|
|
LVLT
4
DELISTED
Level 3 Communications Inc
LVLT
| $484M | 6.19% |
+8,590,000
| New | +$454M |
|
|
TRQ
5
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $299M | 3.83% |
9,267,700
-232,600
| -2% | -$7.48M |
|
|
6
Humana
HUM
$46.7B
| $263M | 3.37% |
1,290,000
+390,000
| +43% | +$74.4M |
|
7
Dell
DELL
$283B
| $228M | 2.91% |
14,755,696
-620,004
| -4% | -$8.89M |
|
8
CALL
AT&T
T
$165B
| $217M | 2.77% |
+6,752,400
| New | +$199M |
|
|
AGN
9
CALL
DELISTED
Allergan plc
AGN
| $192M | 2.46% |
915,000
+15,000
| +2% | +$3.11M |
|
10
CALL
Pfizer
PFE
$140B
| $169M | 2.17% |
5,495,451
+737,800
| +16% | +$22.5M |
|
11
PUT
Charter Communications
CHTR
$15.2B
| $155M | 1.99% |
540,000
+252,000
| +88% | +$67.9M |
|
|
AET
12
PUT
DELISTED
Aetna Inc
AET
| $154M | 1.97% |
1,240,000
+1,200,000
| +3,000% | +$144M |
|
|
TWX
13
PUT
DELISTED
Time Warner Inc
TWX
| $145M | 1.85% |
+1,500,000
| New | +$134M |
|
|
WWAV
14
DELISTED
The WhiteWave Foods Company
WWAV
| $140M | 1.79% |
2,513,600
-1,486,400
| -37% | -$81.4M |
|
|
RAD
15
PUT
DELISTED
Rite Aid Corporation
RAD
| $136M | 1.73% |
822,500
+50,000
| +6% | +$7.55M |
|
|
16
PUT
Synchrony
SYF
$23.7B
| $126M | 1.61% |
3,469,300
-2,020,000
| -37% | -$64.5M |
|
|
MON
17
PUT
DELISTED
Monsanto Co
MON
| $116M | 1.48% |
1,100,000
+507,200
| +86% | +$52M |
|
|
RAD
18
DELISTED
Rite Aid Corporation
RAD
| $111M | 1.42% |
675,500
-324,500
| -32% | -$49M |
|
|
19
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $98.4M | 1.26% |
440,000
+170,000
| +63% | +$37.1M |
|
|
VMW
20
CALL
DELISTED
VMware, Inc
VMW
| $81.9M | 1.05% |
1,040,000
+300,000
| +41% | +$23.3M |
|
|
IOC
21
DELISTED
Interoil Corporation
IOC
| $77.4M | 0.99% |
1,627,666
+627,666
| +63% | +$30.7M |
|
|
AGN
22
DELISTED
Allergan plc
AGN
| $77.2M | 0.99% |
367,547
-1,045,453
| -74% | -$217M |
|
23
CALL
Abbott
ABT
$180B
| $71.1M | 0.91% |
1,850,000
+850,000
| +85% | +$33.7M |
|
|
AET
24
CALL
DELISTED
Aetna Inc
AET
| $59.5M | 0.76% |
480,000
+80,000
| +20% | +$9.58M |
|
|
SYT
25
DELISTED
Syngenta Ag
SYT
| $59.4M | 0.76% |
751,000
+134,101
| +22% | +$10.8M |
|
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Pentwater Capital Management's Q4 2016 Portfolio in Review
As of Q4 2016, Pentwater Capital Management held 158 positions worth $7.82B, down 27% from $10.8B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Pentwater Capital Management withdrew a net $3.19B in Q4 2016, closing 45 positions and reducing 25 holdings. Its most notable exit was Procter & Gamble, an estimated $1.72B position sold in full.
By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 3.6% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Pentwater Capital Management opened a new position in Level 3 Communications Inc worth $484M.
- Pentwater Capital Management's largest Q4 2016 buy was Level 3 Communications Inc: 8,590,000 shares worth $484M.
- Pentwater Capital Management added most to NXP Semiconductors in Q4 2016, an estimated $762M increase.
- Pentwater Capital Management's biggest Q4 2016 reduction was Synchrony, cutting an estimated $241M.
- Pentwater Capital Management fully exited Procter & Gamble in Q4 2016, selling an estimated $1.72B.
- Pentwater Capital Management's ten largest holdings make up 62% of its $7.82B portfolio in Q4 2016.
- Pentwater Capital Management opened 37 new positions and closed 45 in Q4 2016.
- Pentwater Capital Management's portfolio value fell 27% quarter-over-quarter to $7.82B.
Based on Pentwater Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.