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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
+28.06%
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
$8.28B
AUM Growth
+$544M
(+7%)
Cap. Flow
-$651M
Cap. Flow
% of AUM
-7.87%
Top 10 Holdings %
Top 10 Hldgs %
64.5%
Holding
301
New
80
Increased
38
Reduced
62
Closed
67
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
WORK
Slack Technologies, Inc.
WORK
|
+$612M |
| 2 |
XLNX
Xilinx Inc
XLNX
|
+$523M |
| 3 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$380M |
| 4 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$271M |
| 5 |
IPHI
INPHI CORPORATION
IPHI
|
+$171M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$448M |
| 2 |
IMMU
Immunomedics Inc
IMMU
|
+$333M |
| 3 |
TCO
Taubman Centers Inc.
TCO
|
+$167M |
| 4 |
PG&E
PCG
|
+$160M |
| 5 |
AMTD
TD Ameritrade Holding Corp
AMTD
|
+$159M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 11.92% |
| 2 | Healthcare | 7.46% |
| 3 | Materials | 5.96% |
| 4 | Communication Services | 4.33% |
| 5 | Industrials | 4.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$782B
| $884M | 10.68% |
2,363,700
-3,313,700
| -58% | -$1.18B |
|
|
MXIM
2
DELISTED
Maxim Integrated Products
MXIM
| $798M | 9.64% |
9,000,000
+1,907,000
| +27% | +$150M |
|
|
WORK
3
DELISTED
Slack Technologies, Inc.
WORK
| $765M | 9.24% |
+18,106,000
| New | +$612M |
|
|
TIF
4
DELISTED
Tiffany & Co.
TIF
| $704M | 8.51% |
5,356,700
+933,100
| +21% | +$119M |
|
|
XLNX
5
DELISTED
Xilinx Inc
XLNX
| $571M | 6.89% |
+4,025,000
| New | +$523M |
|
|
ALXN
6
DELISTED
Alexion Pharmaceuticals
ALXN
| $463M | 5.59% |
+2,961,000
| New | +$380M |
|
|
TIF
7
PUT
DELISTED
Tiffany & Co.
TIF
| $335M | 4.05% |
2,550,000
-90,200
| -3% | -$11.5M |
|
|
GRUB
8
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $296M | 3.58% |
1,992,500
+737,500
| +59% | +$109M |
|
|
INFO
9
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $281M | 3.4% |
+3,130,000
| New | +$271M |
|
|
VAR
10
DELISTED
Varian Medical Systems, Inc.
VAR
| $242M | 2.93% |
1,385,000
+585,000
| +73% | +$101M |
|
|
TRQ
11
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $232M | 2.8% |
18,665,658
+89,999
| +0.5% | +$872K |
|
|
12
PG&E
PCG
$47.1B
| $216M | 2.61% |
17,354,336
-14,168,600
| -45% | -$160M |
|
|
IPHI
13
DELISTED
INPHI CORPORATION
IPHI
| $196M | 2.36% |
+1,219,000
| New | +$171M |
|
14
DuPont de Nemours
DD
$18.8B
| $170M | 2.05% |
1,899,652
+1,891,685
| +23,744% | +$149M |
|
|
CBPO
15
DELISTED
China Biologic Products Holdings, Inc.
CBPO
| $139M | 1.68% |
1,178,000
+713,872
| +154% | +$82.9M |
|
|
CLGX
16
DELISTED
Corelogic, Inc.
CLGX
| $132M | 1.59% |
1,704,000
-610,203
| -26% | -$45.7M |
|
17
International Flavors & Fragrances
IFF
$19.6B
| $92M | 1.11% |
+844,850
| New | +$94.8M |
|
|
EV
18
DELISTED
Eaton Vance Corp.
EV
| $91.7M | 1.11% |
+1,350,000
| New | +$84.3M |
|
19
VICI Properties
VICI
$29.5B
| $86.3M | 1.04% |
3,384,500
-1,170,500
| -26% | -$29.1M |
|
|
20
State Street SPDR S&P 500 ETF Trust
SPY
$782B
| $79.3M | 0.96% |
212,209
-1,261,441
| -86% | -$448M |
|
21
PUT
T-Mobile US
TMUS
$192B
| $74.2M | 0.9% |
550,000
| – | – |
|
22
CALL
Marvell Technology
MRVL
$170B
| $72.7M | 0.88% |
+1,530,000
| New | +$66.2M |
|
23
PUT
Synchrony
SYF
$24.5B
| $63.2M | 0.76% |
1,820,000
| – | – |
|
24
CALL
Walt Disney
DIS
$168B
| $58.8M | 0.71% |
324,300
-143,200
| -31% | -$20.6M |
|
|
25
Synchrony
SYF
$24.5B
| $57.1M | 0.69% |
1,645,904
-1,558,458
| -49% | -$46.8M |
|
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Pentwater Capital Management's Q4 2020 Portfolio in Review
As of Q4 2020, Pentwater Capital Management held 301 positions worth $8.28B, up 7% from $7.73B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Pentwater Capital Management withdrew a net $651M in Q4 2020, closing 67 positions and reducing 62 holdings. Its most notable exit was Immunomedics Inc, an estimated $333M position sold in full.
By sector, the portfolio is most concentrated in Technology at 12% of assets, up from 2.8% a quarter earlier, followed by Healthcare and Materials.
Against the trend, Pentwater Capital Management opened a new position in Slack Technologies, Inc. worth $765M.
- Pentwater Capital Management's largest Q4 2020 buy was Slack Technologies, Inc.: 18,106,000 shares worth $765M.
- Pentwater Capital Management added most to Maxim Integrated Products in Q4 2020, an estimated $150M increase.
- Pentwater Capital Management's biggest Q4 2020 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $448M.
- Pentwater Capital Management fully exited Immunomedics Inc in Q4 2020, selling an estimated $333M.
- Pentwater Capital Management's ten largest holdings make up 64% of its $8.28B portfolio in Q4 2020.
- Pentwater Capital Management opened 80 new positions and closed 67 in Q4 2020.
- Pentwater Capital Management's portfolio value rose 7% quarter-over-quarter to $8.28B.
Based on Pentwater Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.