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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
+10.66%
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
$18.6B
AUM Growth
+$4.12B
(+28%)
Cap. Flow
+$2.91B
Cap. Flow
% of AUM
15.62%
Top 10 Holdings %
Top 10 Hldgs %
82.54%
Holding
163
New
35
Increased
30
Reduced
38
Closed
48
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ATVI
Activision Blizzard
ATVI
|
+$831M |
| 2 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$649M |
| 3 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$304M |
| 4 |
SPLK
Splunk Inc
SPLK
|
+$287M |
| 5 |
VMW
VMware, Inc
VMW
|
+$202M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
UNVR
Univar Solutions Inc.
UNVR
|
+$203M |
| 2 |
AJRD
Aerojet Rocketdyne Holdings
AJRD
|
+$198M |
| 3 |
TRTN
Triton International Limited
TRTN
|
+$150M |
| 4 |
NATI
National Instruments Corp
NATI
|
+$140M |
| 5 |
LSI
Life Storage, Inc.
LSI
|
+$115M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 25.63% |
| 2 | Technology | 22.73% |
| 3 | Industrials | 1.58% |
| 4 | Materials | 0.92% |
| 5 | Consumer Discretionary | 0.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ATVI
1
DELISTED
Activision Blizzard
ATVI
| $2.84B | 15.29% |
30,374,600
+9,112,100
| +43% | +$831M |
|
|
SGEN
2
DELISTED
Seagen Inc. Common Stock
SGEN
| $2.73B | 14.69% |
12,880,000
+3,250,500
| +34% | +$649M |
|
|
SGEN
3
PUT
DELISTED
Seagen Inc. Common Stock
SGEN
| $2.06B | 11.1% |
9,732,600
+4,097,700
| +73% | +$819M |
|
|
HZNP
4
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $1.8B | 9.67% |
15,552,000
+2,825,100
| +22% | +$304M |
|
|
ATVI
5
PUT
DELISTED
Activision Blizzard
ATVI
| $1.77B | 9.5% |
18,864,900
-2,251,400
| -11% | -$205M |
|
|
HZNP
6
PUT
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $1.73B | 9.3% |
14,942,500
+5,042,500
| +51% | +$542M |
|
7
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $794M | 4.27% |
1,857,200
-74,900
| -4% | -$33.3M |
|
|
VMW
8
DELISTED
VMware, Inc
VMW
| $653M | 3.51% |
3,920,000
+1,260,000
| +47% | +$202M |
|
|
VMW
9
PUT
DELISTED
VMware, Inc
VMW
| $598M | 3.21% |
3,590,000
+953,300
| +36% | +$153M |
|
|
SPLK
10
DELISTED
Splunk Inc
SPLK
| $370M | 1.99% |
+2,533,000
| New | +$287M |
|
11
PUT
Broadcom
AVGO
$1.82T
| $274M | 1.47% |
3,295,000
+155,000
| +5% | +$13.4M |
|
|
NATI
12
DELISTED
National Instruments Corp
NATI
| $267M | 1.43% |
4,475,000
-2,375,000
| -35% | -$140M |
|
13
Boeing
BA
$165B
| $221M | 1.19% |
1,155,000
+679,000
| +143% | +$149M |
|
|
14
State Street SPDR S&P 500 ETF Trust
SPY
$778B
| $180M | 0.97% |
420,380
+225,342
| +116% | +$100M |
|
|
NEWR
15
DELISTED
New Relic, Inc.
NEWR
| $167M | 0.9% |
+1,949,000
| New | +$157M |
|
16
Kenvue
KVUE
$37B
| $122M | 0.66% |
6,098,745
+6,018,745
| +7,523% | +$139M |
|
|
DEN
17
DELISTED
Denbury Inc.
DEN
| $115M | 0.62% |
1,170,000
-625,000
| -35% | -$56.6M |
|
|
AMED
18
DELISTED
Amedisys
AMED
| $107M | 0.57% |
1,144,000
+807,000
| +239% | +$74.6M |
|
|
ABCM
19
DELISTED
Abcam PLC
ABCM
| $97.4M | 0.52% |
+4,303,000
| New | +$98.9M |
|
|
SGEN
20
CALL
DELISTED
Seagen Inc. Common Stock
SGEN
| $96.2M | 0.52% |
+453,400
| New | +$90.6M |
|
21
PUT
Teck Resources
TECK
$29.5B
| $93.9M | 0.51% |
2,180,000
| – | – |
|
|
22
PUT
Boeing
BA
$165B
| $92.8M | 0.5% |
484,000
+84,000
| +21% | +$18.4M |
|
|
23
Teck Resources
TECK
$29.5B
| $91.8M | 0.49% |
2,130,000
+260,000
| +14% | +$10.8M |
|
|
SPLK
24
PUT
DELISTED
Splunk Inc
SPLK
| $87.8M | 0.47% |
+600,000
| New | +$68M |
|
|
ATVI
25
CALL
DELISTED
Activision Blizzard
ATVI
| $84.2M | 0.45% |
899,100
-616,500
| -41% | -$56.2M |
|
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Pentwater Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, Pentwater Capital Management held 163 positions worth $18.6B, up 28% from $14.5B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Pentwater Capital Management deployed $2.91B of net new capital in Q3 2023, opening 35 new positions and adding to 30 existing holdings. Its largest new stake was Splunk Inc: 2,533,000 shares worth $370M.
By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 24% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was National Instruments Corp, an estimated $140M trimmed.
- Pentwater Capital Management's largest Q3 2023 buy was Splunk Inc: 2,533,000 shares worth $370M.
- Pentwater Capital Management added most to Activision Blizzard in Q3 2023, an estimated $831M increase.
- Pentwater Capital Management's biggest Q3 2023 reduction was National Instruments Corp, cutting an estimated $140M.
- Pentwater Capital Management fully exited Univar Solutions Inc. in Q3 2023, selling an estimated $203M.
- Pentwater Capital Management's ten largest holdings make up 83% of its $18.6B portfolio in Q3 2023.
- Pentwater Capital Management opened 35 new positions and closed 48 in Q3 2023.
- Pentwater Capital Management's portfolio value rose 28% quarter-over-quarter to $18.6B.
Based on Pentwater Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.