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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
+2.71%
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
$9.84B
AUM Growth
-$2.28B
(-19%)
Cap. Flow
-$2.08B
Cap. Flow
% of AUM
-21.12%
Top 10 Holdings %
Top 10 Hldgs %
57.61%
Holding
370
New
68
Increased
62
Reduced
62
Closed
140
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NUAN
Nuance Communications, Inc.
NUAN
|
+$293M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$273M |
| 3 |
HRC
HILL-ROM HOLDINGS, INC.
HRC
|
+$250M |
| 4 |
FIVE9
FIVN
|
+$227M |
| 5 |
INFO
IHS Markit Ltd. Common Shares
INFO
|
+$181M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MXIM
Maxim Integrated Products
MXIM
|
+$1.18B |
| 2 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$906M |
| 3 |
WORK
Slack Technologies, Inc.
WORK
|
+$861M |
| 4 |
PFPT
Proofpoint, Inc.
PFPT
|
+$438M |
| 5 |
PRAH
PRA Health Sciences, Inc.
PRAH
|
+$205M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 13.73% |
| 2 | Healthcare | 12.3% |
| 3 | Communication Services | 11.97% |
| 4 | Industrials | 9.76% |
| 5 | Consumer Discretionary | 3.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
INFO
1
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $1.01B | 10.22% |
8,630,000
+1,530,000
| +22% | +$181M |
|
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $983M | 9.99% |
2,291,200
+113,700
| +5% | +$50.2M |
|
|
NUAN
3
DELISTED
Nuance Communications, Inc.
NUAN
| $967M | 9.82% |
17,565,100
+5,335,100
| +44% | +$293M |
|
|
KSU
4
DELISTED
Kansas City Southern
KSU
| $575M | 5.84% |
2,123,200
+58,150
| +3% | +$16.2M |
|
|
PPD
5
DELISTED
PPD, Inc. Common Stock
PPD
| $498M | 5.06% |
10,640,000
-1,580,000
| -13% | -$73.1M |
|
|
XLNX
6
DELISTED
Xilinx Inc
XLNX
| $436M | 4.43% |
2,885,000
+825,000
| +40% | +$121M |
|
|
COHR
7
DELISTED
Coherent Inc
COHR
| $384M | 3.9% |
1,536,000
+93,000
| +6% | +$23.3M |
|
|
HRC
8
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
| $278M | 2.82% |
+1,850,000
| New | +$250M |
|
|
TRQ
9
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $276M | 2.81% |
18,717,925
-352,131
| -2% | -$5.34M |
|
|
10
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $268M | 2.73% |
625,150
+620,000
| +12,039% | +$273M |
|
|
ATH
11
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $247M | 2.51% |
3,590,000
+1,640,000
| +84% | +$109M |
|
12
CALL
Advanced Micro Devices
AMD
$851B
| $222M | 2.25% |
2,153,300
+2,018,300
| +1,495% | +$206M |
|
|
13
FIVE9
FIVN
$1.77B
| $199M | 2.02% |
+1,245,000
| New | +$227M |
|
|
NUAN
14
PUT
DELISTED
Nuance Communications, Inc.
NUAN
| $188M | 1.91% |
3,410,000
+250,000
| +8% | +$13.7M |
|
15
CALL
Zoom
ZM
$25.8B
| $182M | 1.85% |
+697,500
| New | +$235M |
|
|
XLRN
16
DELISTED
Acceleron Pharma
XLRN
| $181M | 1.84% |
+1,050,000
| New | +$137M |
|
17
VICI Properties
VICI
$29.4B
| $121M | 1.23% |
4,270,000
+3,815,000
| +838% | +$116M |
|
18
Alibaba
BABA
$269B
| $112M | 1.14% |
757,500
+299,000
| +65% | +$54.4M |
|
|
19
PUT
Alibaba
BABA
$269B
| $111M | 1.13% |
750,000
+700,000
| +1,400% | +$127M |
|
20
CALL
Boeing
BA
$165B
| $100M | 1.02% |
+455,000
| New | +$101M |
|
|
JOBS
21
DELISTED
51job Inc
JOBS
| $98M | 1% |
1,409,000
+444,000
| +46% | +$32.7M |
|
|
22
Boeing
BA
$165B
| $95.9M | 0.97% |
436,000
+426,155
| +4,329% | +$95M |
|
|
VER
23
DELISTED
VEREIT, Inc.
VER
| $95.2M | 0.97% |
2,104,000
+479,000
| +29% | +$23.3M |
|
|
24
PUT
Advanced Micro Devices
AMD
$851B
| $93.7M | 0.95% |
910,900
-514,100
| -36% | -$52.6M |
|
|
WBT
25
DELISTED
Welbilt, Inc.
WBT
| $93M | 0.94% |
4,000,000
+573,300
| +17% | +$13.5M |
|
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Pentwater Capital Management's Q3 2021 Portfolio in Review
As of Q3 2021, Pentwater Capital Management held 370 positions worth $9.84B, down 19% from $12.1B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Pentwater Capital Management withdrew a net $2.08B in Q3 2021, closing 140 positions and reducing 62 holdings. Its most notable exit was Maxim Integrated Products, an estimated $1.18B position sold in full.
By sector, the portfolio is most concentrated in Technology at 14% of assets, down from 20% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Pentwater Capital Management opened a new position in HILL-ROM HOLDINGS, INC. worth $278M.
- Pentwater Capital Management's largest Q3 2021 buy was HILL-ROM HOLDINGS, INC.: 1,850,000 shares worth $278M.
- Pentwater Capital Management added most to Nuance Communications, Inc. in Q3 2021, an estimated $293M increase.
- Pentwater Capital Management's biggest Q3 2021 reduction was Change Healthcare Inc. Common Stock, cutting an estimated $131M.
- Pentwater Capital Management fully exited Maxim Integrated Products in Q3 2021, selling an estimated $1.18B.
- Pentwater Capital Management's ten largest holdings make up 58% of its $9.84B portfolio in Q3 2021.
- Pentwater Capital Management opened 68 new positions and closed 140 in Q3 2021.
- Pentwater Capital Management's portfolio value fell 19% quarter-over-quarter to $9.84B.
Based on Pentwater Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.