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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
+14.57%
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
$10.5B
AUM Growth
+$2.2B
(+27%)
Cap. Flow
+$1.93B
Cap. Flow
% of AUM
18.42%
Top 10 Holdings %
Top 10 Hldgs %
53.77%
Holding
422
New
188
Increased
50
Reduced
56
Closed
85
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
|
+$395M |
| 2 |
COHR
Coherent Inc
COHR
|
+$266M |
| 3 |
XLNX
Xilinx Inc
XLNX
|
+$242M |
| 4 |
CHNG
Change Healthcare Inc. Common Stock
CHNG
|
+$216M |
| 5 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$205M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TIF
Tiffany & Co.
TIF
|
+$704M |
| 2 |
DuPont de Nemours
DD
|
+$162M |
| 3 |
International Flavors & Fragrances
IFF
|
+$92M |
| 4 |
EV
Eaton Vance Corp.
EV
|
+$91.7M |
| 5 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$81M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 15.95% |
| 2 | Technology | 13.98% |
| 3 | Communication Services | 6% |
| 4 | Industrials | 4.33% |
| 5 | Materials | 3.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
MXIM
1
DELISTED
Maxim Integrated Products
MXIM
| $1B | 9.54% |
10,945,880
+1,945,880
| +22% | +$178M |
|
|
WORK
2
DELISTED
Slack Technologies, Inc.
WORK
| $790M | 7.54% |
19,438,600
+1,332,600
| +7% | +$55.7M |
|
|
XLNX
3
DELISTED
Xilinx Inc
XLNX
| $724M | 6.9% |
5,841,000
+1,816,000
| +45% | +$242M |
|
|
ALXN
4
DELISTED
Alexion Pharmaceuticals
ALXN
| $656M | 6.26% |
4,289,244
+1,328,244
| +45% | +$205M |
|
|
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $545M | 5.2% |
1,375,500
-988,200
| -42% | -$381M |
|
|
INFO
6
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $486M | 4.64% |
5,024,300
+1,894,300
| +61% | +$173M |
|
|
GWPH
7
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
| $456M | 4.35% |
+2,102,104
| New | +$395M |
|
|
IPHI
8
DELISTED
INPHI CORPORATION
IPHI
| $365M | 3.48% |
2,045,998
+826,998
| +68% | +$138M |
|
|
CLGX
9
DELISTED
Corelogic, Inc.
CLGX
| $311M | 2.96% |
3,920,000
+2,216,000
| +130% | +$177M |
|
|
COHR
10
DELISTED
Coherent Inc
COHR
| $303M | 2.9% |
+1,200,000
| New | +$266M |
|
|
TRQ
11
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $300M | 2.86% |
18,650,038
-15,620
| -0.1% | -$221K |
|
|
VAR
12
DELISTED
Varian Medical Systems, Inc.
VAR
| $268M | 2.55% |
1,515,863
+130,863
| +9% | +$23M |
|
|
RP
13
DELISTED
RealPage, Inc.
RP
| $251M | 2.39% |
2,876,950
+2,276,950
| +379% | +$198M |
|
|
CHNG
14
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| $210M | 2% |
9,500,000
+9,341,984
| +5,912% | +$216M |
|
|
GRUB
15
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
| $207M | 1.97% |
1,722,441
-270,059
| -14% | -$37.6M |
|
16
CALL
Marvell Technology
MRVL
$174B
| $195M | 1.86% |
3,990,000
+2,460,000
| +161% | +$121M |
|
17
PG&E
PCG
$47.8B
| $170M | 1.62% |
14,535,536
-2,818,800
| -16% | -$32.7M |
|
|
PRAH
18
DELISTED
PRA Health Sciences, Inc.
PRAH
| $143M | 1.36% |
+929,668
| New | +$126M |
|
|
CBPO
19
DELISTED
China Biologic Products Holdings, Inc.
CBPO
| $140M | 1.34% |
1,184,021
+6,021
| +0.5% | +$712K |
|
|
KSU
20
DELISTED
Kansas City Southern
KSU
| $137M | 1.31% |
+520,000
| New | +$113M |
|
21
CALL
Tilray
TLRY
$479M
| $110M | 1.05% |
+485,250
| New | +$114M |
|
|
ATH
22
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $97.5M | 0.93% |
+1,935,000
| New | +$89.8M |
|
23
PUT
Hartford Financial Services
HIG
$38.5B
| $91.7M | 0.88% |
+1,373,600
| New | +$74.2M |
|
24
PUT
Alibaba
BABA
$269B
| $85M | 0.81% |
+375,000
| New | +$92.1M |
|
|
TCF
25
DELISTED
TCF Financial Corporation Common Stock
TCF
| $84.6M | 0.81% |
1,821,000
+1,176,000
| +182% | +$52M |
|
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Pentwater Capital Management's Q1 2021 Portfolio in Review
As of Q1 2021, Pentwater Capital Management held 422 positions worth $10.5B, up 27% from $8.28B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Pentwater Capital Management deployed $1.93B of net new capital in Q1 2021, opening 188 new positions and adding to 50 existing holdings. Its largest new stake was GW Pharmaceuticals Plc American Depositary Shares: 2,102,104 shares worth $456M.
By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 7.5% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was DuPont de Nemours, an estimated $162M trimmed.
- Pentwater Capital Management's largest Q1 2021 buy was GW Pharmaceuticals Plc American Depositary Shares: 2,102,104 shares worth $456M.
- Pentwater Capital Management added most to Xilinx Inc in Q1 2021, an estimated $242M increase.
- Pentwater Capital Management's biggest Q1 2021 reduction was DuPont de Nemours, cutting an estimated $162M.
- Pentwater Capital Management fully exited Tiffany & Co. in Q1 2021, selling an estimated $704M.
- Pentwater Capital Management's ten largest holdings make up 54% of its $10.5B portfolio in Q1 2021.
- Pentwater Capital Management opened 188 new positions and closed 85 in Q1 2021.
- Pentwater Capital Management's portfolio value rose 27% quarter-over-quarter to $10.5B.
Based on Pentwater Capital Management's 13F filing for Q1 2021, filed 17 May 2021.