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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
+14.72%
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
$9.2B
AUM Growth
-$642M
(-6.5%)
Cap. Flow
-$1.37B
Cap. Flow
% of AUM
-14.84%
Top 10 Holdings %
Top 10 Hldgs %
64.58%
Holding
299
New
67
Increased
52
Reduced
50
Closed
94
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CONE
CyrusOne Inc Common Stock
CONE
|
+$280M |
| 2 |
XLNX
Xilinx Inc
XLNX
|
+$229M |
| 3 |
CERN
Cerner Corp
CERN
|
+$206M |
| 4 |
Hertz
HTZ
|
+$138M |
| 5 |
Boeing
BA
|
+$112M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KSU
Kansas City Southern
KSU
|
+$575M |
| 2 |
PPD
PPD, Inc. Common Stock
PPD
|
+$498M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$287M |
| 4 |
HRC
HILL-ROM HOLDINGS, INC.
HRC
|
+$278M |
| 5 |
XLRN
Acceleron Pharma
XLRN
|
+$181M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 15.7% |
| 2 | Technology | 13.46% |
| 3 | Industrials | 6.31% |
| 4 | Healthcare | 5.3% |
| 5 | Materials | 3.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
INFO
1
DELISTED
IHS Markit Ltd. Common Shares
INFO
| $1.24B | 13.45% |
9,310,000
+680,000
| +8% | +$86.6M |
|
|
NUAN
2
DELISTED
Nuance Communications, Inc.
NUAN
| $959M | 10.43% |
17,340,000
-225,100
| -1% | -$12.4M |
|
|
XLNX
3
DELISTED
Xilinx Inc
XLNX
| $858M | 9.32% |
4,046,000
+1,161,000
| +40% | +$229M |
|
|
4
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $623M | 6.77% |
1,312,000
-979,200
| -43% | -$450M |
|
5
CALL
Advanced Micro Devices
AMD
$851B
| $609M | 6.62% |
4,233,600
+2,080,300
| +97% | +$280M |
|
|
6
PUT
Advanced Micro Devices
AMD
$851B
| $404M | 4.39% |
2,808,000
+1,897,100
| +208% | +$255M |
|
|
COHR
7
DELISTED
Coherent Inc
COHR
| $374M | 4.06% |
1,402,000
-134,000
| -9% | -$34.6M |
|
|
CONE
8
DELISTED
CyrusOne Inc Common Stock
CONE
| $316M | 3.43% |
3,520,000
+3,300,000
| +1,500% | +$280M |
|
|
TRQ
9
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $310M | 3.37% |
18,840,582
+122,657
| +0.7% | +$1.73M |
|
|
CERN
10
DELISTED
Cerner Corp
CERN
| $251M | 2.73% |
+2,705,000
| New | +$206M |
|
|
11
PUT
Boeing
BA
$165B
| $208M | 2.26% |
1,035,000
+842,500
| +438% | +$178M |
|
|
12
Boeing
BA
$165B
| $195M | 2.12% |
967,500
+531,500
| +122% | +$112M |
|
|
ATH
13
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $190M | 2.06% |
2,275,000
-1,315,000
| -37% | -$108M |
|
|
NUAN
14
PUT
DELISTED
Nuance Communications, Inc.
NUAN
| $182M | 1.97% |
3,281,200
-128,800
| -4% | -$7.1M |
|
|
15
Hertz
HTZ
$572M
| $144M | 1.56% |
+5,749,174
| New | +$138M |
|
|
MIME
16
DELISTED
Mimecast Limited
MIME
| $114M | 1.24% |
+1,435,000
| New | +$108M |
|
17
VICI Properties
VICI
$29.4B
| $114M | 1.24% |
3,774,458
-495,542
| -12% | -$14.4M |
|
|
VNE
18
DELISTED
Veoneer, Inc.
VNE
| $100M | 1.09% |
+2,820,000
| New | +$99.7M |
|
|
XLNX
19
PUT
DELISTED
Xilinx Inc
XLNX
| $91.1M | 0.99% |
429,700
+271,900
| +172% | +$53.6M |
|
|
WBT
20
DELISTED
Welbilt, Inc.
WBT
| $90.6M | 0.98% |
3,811,000
-189,000
| -5% | -$4.47M |
|
|
21
CALL
Boeing
BA
$165B
| $89.6M | 0.97% |
445,000
-10,000
| -2% | -$2.11M |
|
|
VG
22
DELISTED
Vonage Holdings Corporation
VG
| $88.9M | 0.97% |
+4,278,000
| New | +$78M |
|
|
EPAY
23
DELISTED
Bottomline Technologies Inc
EPAY
| $84.7M | 0.92% |
+1,500,000
| New | +$70.1M |
|
|
CERN
24
PUT
DELISTED
Cerner Corp
CERN
| $75.9M | 0.83% |
+817,800
| New | +$62.2M |
|
|
JOBS
25
DELISTED
51job Inc
JOBS
| $71.5M | 0.78% |
1,462,000
+53,000
| +4% | +$3.02M |
|
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Pentwater Capital Management's Q4 2021 Portfolio in Review
As of Q4 2021, Pentwater Capital Management held 299 positions worth $9.2B, down 6.5% from $9.84B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Pentwater Capital Management withdrew a net $1.37B in Q4 2021, closing 94 positions and reducing 50 holdings. Its most notable exit was Kansas City Southern, an estimated $575M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 16% of assets, up from 12% a quarter earlier, followed by Technology and Industrials.
Against the trend, Pentwater Capital Management opened a new position in Cerner Corp worth $251M.
- Pentwater Capital Management's largest Q4 2021 buy was Cerner Corp: 2,705,000 shares worth $251M.
- Pentwater Capital Management added most to CyrusOne Inc Common Stock in Q4 2021, an estimated $280M increase.
- Pentwater Capital Management's biggest Q4 2021 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $287M.
- Pentwater Capital Management fully exited Kansas City Southern in Q4 2021, selling an estimated $575M.
- Pentwater Capital Management's ten largest holdings make up 65% of its $9.2B portfolio in Q4 2021.
- Pentwater Capital Management opened 67 new positions and closed 94 in Q4 2021.
- Pentwater Capital Management's portfolio value fell 6.5% quarter-over-quarter to $9.2B.
Based on Pentwater Capital Management's 13F filing for Q4 2021, filed 11 Feb 2022.