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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
-0.32%
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
$6.4B
AUM Growth
-$2.91B
(-31%)
Cap. Flow
-$2.77B
Cap. Flow
% of AUM
-43.38%
Top 10 Holdings %
Top 10 Hldgs %
64.6%
Holding
239
New
57
Increased
26
Reduced
57
Closed
84
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$264M |
| 2 |
ONCE
Spark Therapeutics, Inc. Common Stock
ONCE
|
+$133M |
| 3 |
PG&E
PCG
|
+$60.6M |
| 4 |
VIAB
Viacom Inc. Class B
VIAB
|
+$55.8M |
| 5 |
Philip Morris
PM
|
+$43.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
APC
Anadarko Petroleum
APC
|
+$619M |
| 2 |
AGN
Allergan plc
AGN
|
+$582M |
| 3 |
RHT
Red Hat Inc
RHT
|
+$457M |
| 4 |
NXP Semiconductors
NXPI
|
+$223M |
| 5 |
ARRY
Array Biopharma Inc
ARRY
|
+$128M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 12.92% |
| 2 | Technology | 7.16% |
| 3 | Industrials | 2.45% |
| 4 | Consumer Discretionary | 2.31% |
| 5 | Materials | 2.06% |
| 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
| $1.59B | 24.8% |
5,344,400
-1,100,900
| -17% | -$325M |
|
|
CELG
2
DELISTED
Celgene Corp
CELG
| $615M | 9.62% |
6,197,680
+443,680
| +8% | +$42.2M |
|
|
3
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $350M | 5.48% |
1,180,000
+895,000
| +314% | +$264M |
|
|
ZAYO
4
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $286M | 4.48% |
8,444,980
+294,980
| +4% | +$9.94M |
|
|
MLNX
5
PUT
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $278M | 4.34% |
2,535,000
+1,035,000
| +69% | +$114M |
|
|
CY
6
DELISTED
Cypress Semiconductor
CY
| $224M | 3.51% |
9,618,200
-601,800
| -6% | -$13.8M |
|
|
7
CALL
NXP Semiconductors
NXPI
$68B
| $208M | 3.26% |
1,910,000
-215,000
| -10% | -$22M |
|
|
ONCE
8
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
| $204M | 3.19% |
2,103,545
+1,323,545
| +170% | +$133M |
|
|
CELG
9
PUT
DELISTED
Celgene Corp
CELG
| $193M | 3.01% |
1,940,000
-1,215,000
| -39% | -$115M |
|
|
MLNX
10
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $186M | 2.91% |
1,698,200
-288,248
| -15% | -$31.8M |
|
11
PUT
Cigna
CI
$76.6B
| $178M | 2.79% |
1,175,000
| – | – |
|
|
ADSW
12
DELISTED
Advanced Disposal Services Inc
ADSW
| $109M | 1.71% |
3,350,000
+864,374
| +35% | +$28M |
|
|
WCG
13
DELISTED
Wellcare Health Plans, Inc.
WCG
| $109M | 1.7% |
420,000
+19,100
| +5% | +$5.27M |
|
|
ONCE
14
PUT
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
| $96.8M | 1.51% |
998,000
+938,000
| +1,563% | +$93.9M |
|
|
ESPR
15
DELISTED
Esperion Therapeutics
ESPR
| $90.9M | 1.42% |
2,478,261
+42,761
| +2% | +$1.69M |
|
|
16
PG&E
PCG
$47.8B
| $85.8M | 1.34% |
8,581,100
+4,007,900
| +88% | +$60.6M |
|
|
CZR
17
DELISTED
Caesars Entertainment Corporation
CZR
| $84.7M | 1.32% |
7,261,180
-339,420
| -4% | -$3.98M |
|
|
TRQ
18
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $84.3M | 1.32% |
17,732,221
-461,900
| -3% | -$2.78M |
|
|
I
19
DELISTED
INTELSAT S. A.
I
| $76.8M | 1.2% |
3,366,400
+1,666,400
| +98% | +$35.2M |
|
20
CALL
Synchrony
SYF
$23.7B
| $75.8M | 1.19% |
2,223,500
+150,000
| +7% | +$5.14M |
|
21
CALL
Occidental Petroleum
OXY
$57B
| $59.5M | 0.93% |
1,338,200
-1,791,800
| -57% | -$84.7M |
|
|
ALDR
22
DELISTED
Alder Biopharmaceuticals
ALDR
| $58.1M | 0.91% |
+3,082,920
| New | +$35.3M |
|
|
WBC
23
DELISTED
WABCO HOLDINGS INC.
WBC
| $55.4M | 0.87% |
413,989
-115,811
| -22% | -$15.4M |
|
24
CALL
Bristol-Myers Squibb
BMY
$127B
| $49.6M | 0.78% |
978,500
-661,500
| -40% | -$31.1M |
|
|
VIAB
25
DELISTED
Viacom Inc. Class B
VIAB
| $48.1M | 0.75% |
+2,000,100
| New | +$55.8M |
|
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Pentwater Capital Management's Q3 2019 Portfolio in Review
As of Q3 2019, Pentwater Capital Management held 239 positions worth $6.4B, down 31% from $9.31B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Pentwater Capital Management withdrew a net $2.77B in Q3 2019, closing 84 positions and reducing 57 holdings. Its most notable exit was Anadarko Petroleum, an estimated $619M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 13% of assets, down from 16% a quarter earlier, followed by Technology and Industrials.
Against the trend, Pentwater Capital Management opened a new position in Viacom Inc. Class B worth $48.1M.
- Pentwater Capital Management's largest Q3 2019 buy was Viacom Inc. Class B: 2,000,100 shares worth $48.1M.
- Pentwater Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q3 2019, an estimated $264M increase.
- Pentwater Capital Management's biggest Q3 2019 reduction was Allergan plc, cutting an estimated $582M.
- Pentwater Capital Management fully exited Anadarko Petroleum in Q3 2019, selling an estimated $619M.
- Pentwater Capital Management's ten largest holdings make up 65% of its $6.4B portfolio in Q3 2019.
- Pentwater Capital Management opened 57 new positions and closed 84 in Q3 2019.
- Pentwater Capital Management's portfolio value fell 31% quarter-over-quarter to $6.4B.
Based on Pentwater Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.