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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
-4.91%
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
$11.7B
AUM Growth
-$123M
Cap. Flow
-$1.22B
Cap. Flow %
-10.44%
Top 10 Hldgs %
77.41%
Holding
194
New
48
Increased
39
Reduced
30
Closed
57

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$1.49B
2
RHT
Red Hat Inc
RHT
+$218M
3
ATHN
Athenahealth, Inc.
ATHN
+$180M
4
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$178M
5
ARRS
ARRIS International plc Ordinary Shares
ARRS
+$132M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$1.41B
2
ESRX
Express Scripts Holding Company
ESRX
+$1.07B
3
COL
Rockwell Collins
COL
+$619M
4
NXPI icon
NXP Semiconductors
NXPI
+$263M
5
TFCF
Twenty-First Century Fox, Inc. Class B
TFCF
+$197M

Sector Composition

Rank Sector Weight
1 Miscellaneous 68.61%
2 Technology 10.31%
3 Communication Services 10.15%
4 Materials 2.92%
5 Healthcare 2.64%
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
$2.39B 20.45%
9,570,000
+3,988,700
+71% +$1.08B
CI icon
2
PUT
Cigna
CI
$72.9B
$1.93B 16.47%
+10,138,800
New +$2.12B
SPY icon
3
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$1.38B 11.78%
5,513,000
+5,508,000
+110,160% +$1.49B
NXPI icon
4
NXP Semiconductors
NXPI
$56.5B
$772M 6.6%
10,529,100
-3,323,200
-24% -$263M
TFCFA
5
PUT
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$651M 5.56%
13,520,100
+2,331,400
+21% +$111M
NXPI icon
6
PUT
NXP Semiconductors
NXPI
$56.5B
$530M 4.53%
7,235,400
-2,359,900
-25% -$187M
TFCFA
7
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$512M 4.38%
10,646,769
+3,756,600
+55% +$178M
TFCF
8
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
$359M 3.07%
7,522,132
-4,182,600
-36% -$197M
RTX icon
9
PUT
RTX Corp
RTX
$268B
$282M 2.41%
4,211,009
+4,036,219
+2,309% +$317M
TRQ
10
DELISTED
Turquoise Hill Resources Ltd
TRQ
$252M 2.15%
15,243,081
+2,385,825
+19% +$43M
RHT
11
DELISTED
Red Hat Inc
RHT
$241M 2.06%
+1,373,000
New +$218M
ATHN
12
DELISTED
Athenahealth, Inc.
ATHN
$201M 1.71%
1,520,000
+1,405,000
+1,222% +$180M
NXPI icon
13
CALL
NXP Semiconductors
NXPI
$56.5B
$169M 1.45%
2,310,000
+1,960,000
+560% +$155M
IDTI
14
DELISTED
Integrated Device Technology I
IDTI
$161M 1.37%
3,320,000
+270,000
+9% +$12.8M
ARRS
15
DELISTED
ARRIS International plc Ordinary Shares
ARRS
$146M 1.25%
+4,765,000
New +$132M
ESPR
16
DELISTED
Esperion Therapeutics
ESPR
$114M 0.98%
2,487,300
+135,800
+6% +$6.54M
VICI icon
17
VICI Properties
VICI
$27.8B
$103M 0.88%
5,500,000
+1,100,000
+25% +$23.1M
USG
18
DELISTED
Usg
USG
$90.4M 0.77%
2,120,000
+1,840,000
+657% +$78.7M
DELL icon
19
Dell
DELL
$345B
$83.9M 0.72%
3,387,834
+2,069,436
+157% +$56.7M
RHT
20
PUT
DELISTED
Red Hat Inc
RHT
$73.8M 0.63%
+420,000
New +$66.6M
QQQ icon
21
PUT
Invesco QQQ Trust
QQQ
$490B
$71.7M 0.61%
465,000
-75,000
-14% -$12.5M
TSRO
22
DELISTED
TESARO, Inc.
TSRO
$68.3M 0.58%
+920,000
New +$44.2M
TRCO
23
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
$66.6M 0.57%
1,466,800
+1,346,800
+1,122% +$54.5M
DIS icon
24
PUT
Walt Disney
DIS
$181B
$59.8M 0.51%
545,000
– –
SYF icon
25
CALL
Synchrony
SYF
$25.6B
$57.4M 0.49%
2,448,100
-72,500
-3% -$1.96M
1
2 3 4 5

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Pentwater Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Pentwater Capital Management held 194 positions worth $11.7B, down 1% from $11.8B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Pentwater Capital Management withdrew a net $1.22B in Q4 2018, closing 57 positions and reducing 30 holdings. Its most notable exit was Aetna Inc, an estimated $1.41B position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 69% of assets, up from 44% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Pentwater Capital Management opened a new position in Red Hat Inc worth $241M.

  • Pentwater Capital Management's largest Q4 2018 buy was Red Hat Inc: 1,373,000 shares worth $241M.
  • Pentwater Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q4 2018, an estimated $1.49B increase.
  • Pentwater Capital Management's biggest Q4 2018 reduction was NXP Semiconductors, cutting an estimated $263M.
  • Pentwater Capital Management fully exited Aetna Inc in Q4 2018, selling an estimated $1.41B.
  • Pentwater Capital Management's ten largest holdings make up 77% of its $11.7B portfolio in Q4 2018.
  • Pentwater Capital Management opened 48 new positions and closed 57 in Q4 2018.
  • Pentwater Capital Management's portfolio value fell 1% quarter-over-quarter to $11.7B.

Based on Pentwater Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.