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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
+17.45%
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
$5.62B
AUM Growth
-$440M
(-7.3%)
Cap. Flow
-$1B
Cap. Flow
% of AUM
-17.83%
Top 10 Holdings %
Top 10 Hldgs %
68.4%
Holding
193
New
70
Increased
43
Reduced
30
Closed
34
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
WUBA
58.com Inc
WUBA
|
+$255M |
| 2 |
TIF
Tiffany & Co.
TIF
|
+$154M |
| 3 |
PG&E
PCG
|
+$121M |
| 4 |
VICI Properties
VICI
|
+$86.5M |
| 5 |
TCO
Taubman Centers Inc.
TCO
|
+$67.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MLNX
Mellanox Technologies, Ltd.
MLNX
|
+$375M |
| 2 |
AGN
Allergan plc
AGN
|
+$300M |
| 3 |
CY
Cypress Semiconductor
CY
|
+$256M |
| 4 |
FTSV
Forty Seven, Inc. Common Stock
FTSV
|
+$143M |
| 5 |
WBC
WABCO HOLDINGS INC.
WBC
|
+$127M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 8.62% |
| 2 | Utilities | 5.17% |
| 3 | Consumer Discretionary | 4.41% |
| 4 | Healthcare | 3.27% |
| 5 | Real Estate | 2.48% |
| 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
| $1.65B | 29.32% |
5,339,500
+1,049,100
| +24% | +$307M |
|
|
TIF
2
DELISTED
Tiffany & Co.
TIF
| $397M | 7.07% |
3,255,100
+1,233,700
| +61% | +$154M |
|
|
3
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $342M | 6.09% |
1,109,000
-17,500
| -2% | -$5.12M |
|
|
4
PG&E
PCG
$47.8B
| $290M | 5.16% |
32,685,449
+11,124,770
| +52% | +$121M |
|
|
WUBA
5
DELISTED
58.com Inc
WUBA
| $267M | 4.75% |
+4,942,800
| New | +$255M |
|
|
TIF
6
PUT
DELISTED
Tiffany & Co.
TIF
| $201M | 3.58% |
+1,650,300
| New | +$207M |
|
|
AMTD
7
DELISTED
TD Ameritrade Holding Corp
AMTD
| $193M | 3.44% |
5,313,440
-645,476
| -11% | -$24.3M |
|
|
BMY.RT
8
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| $192M | 3.41% |
53,544,812
+535,000
| +1% | +$1.93M |
|
|
LM
9
DELISTED
Legg Mason, Inc.
LM
| $164M | 2.92% |
3,299,000
+1,349,200
| +69% | +$67M |
|
|
CZR
10
DELISTED
Caesars Entertainment Corporation
CZR
| $148M | 2.64% |
12,225,218
+5,240,374
| +75% | +$52.9M |
|
|
TCO
11
DELISTED
Taubman Centers Inc.
TCO
| $138M | 2.45% |
3,644,280
+1,644,280
| +82% | +$67.2M |
|
|
TRQ
12
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $136M | 2.42% |
18,540,059
+243,930
| +1% | +$1.44M |
|
|
ESPR
13
DELISTED
Esperion Therapeutics
ESPR
| $115M | 2.05% |
2,242,522
-70,500
| -3% | -$2.95M |
|
|
ACIA
14
DELISTED
Acacia Communications Inc
ACIA
| $104M | 1.85% |
1,543,000
+227,990
| +17% | +$15.5M |
|
|
15
VICI Properties
VICI
$29.4B
| $100M | 1.78% |
4,957,371
+4,724,477
| +2,029% | +$86.5M |
|
|
16
PUT
PG&E
PCG
$47.8B
| $95.9M | 1.71% |
10,811,000
+1,833,000
| +20% | +$20M |
|
17
Synchrony
SYF
$23.7B
| $70.8M | 1.26% |
3,195,362
+1,164,000
| +57% | +$22.7M |
|
|
ADSW
18
DELISTED
Advanced Disposal Services Inc
ADSW
| $70.8M | 1.26% |
2,346,842
-1,079,295
| -32% | -$34.4M |
|
|
DLPH
19
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
| $63M | 1.12% |
4,433,000
+3,944,971
| +808% | +$44.2M |
|
20
PUT
T-Mobile US
TMUS
$193B
| $57.3M | 1.02% |
550,000
-3,715,000
| -87% | -$356M |
|
|
FIT
21
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $57M | 1.01% |
8,820,454
+1,591,457
| +22% | +$10.4M |
|
22
Walt Disney
DIS
$165B
| $45M | 0.8% |
403,949
-503,330
| -55% | -$55.6M |
|
|
23
CALL
Walt Disney
DIS
$165B
| $42.7M | 0.76% |
382,500
+85,000
| +29% | +$9.38M |
|
|
CBPO
24
DELISTED
China Biologic Products Holdings, Inc.
CBPO
| $40.8M | 0.73% |
399,570
+236,798
| +145% | +$25.3M |
|
|
25
PUT
Synchrony
SYF
$23.7B
| $40.3M | 0.72% |
1,820,000
+1,420,000
| +355% | +$27.7M |
|
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Pentwater Capital Management's Q2 2020 Portfolio in Review
As of Q2 2020, Pentwater Capital Management held 193 positions worth $5.62B, down 7.3% from $6.06B the previous quarter. Its ten largest holdings account for 68% of the portfolio.
Pentwater Capital Management withdrew a net $1B in Q2 2020, closing 34 positions and reducing 30 holdings. Its most notable exit was Mellanox Technologies, Ltd., an estimated $375M position sold in full.
By sector, the portfolio is most concentrated in Financials at 8.6% of assets, up from 6.8% a quarter earlier, followed by Utilities and Consumer Discretionary.
Against the trend, Pentwater Capital Management opened a new position in 58.com Inc worth $267M.
- Pentwater Capital Management's largest Q2 2020 buy was 58.com Inc: 4,942,800 shares worth $267M.
- Pentwater Capital Management added most to Tiffany & Co. in Q2 2020, an estimated $154M increase.
- Pentwater Capital Management's biggest Q2 2020 reduction was Boeing, cutting an estimated $78.7M.
- Pentwater Capital Management fully exited Mellanox Technologies, Ltd. in Q2 2020, selling an estimated $375M.
- Pentwater Capital Management's ten largest holdings make up 68% of its $5.62B portfolio in Q2 2020.
- Pentwater Capital Management opened 70 new positions and closed 34 in Q2 2020.
- Pentwater Capital Management's portfolio value fell 7.3% quarter-over-quarter to $5.62B.
Based on Pentwater Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.