WhaleCreep

Pentwater Capital Management LP 13F holdings, Q4 2012

Hedge fundSEC filingsCompare with another fundHoldings as of 2012-12-31, filed 2013-02-14

Pentwater Capital Management LP disclosed 44 US equity positions worth $1.6bn in its Q4 2012 13F filing. Its largest position is NEXEN INC at 12.0% of the reported book, followed by COVENTRY HEALTH CARE INC and RALCORP HLDGS INC. Versus Q3 2012 it opened 20 new positions, added to 13, reduced 6 and exited 15.

$1.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
44
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
12.0%
Largest position
The largest single position as a share of the reported equity book.
72.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
15
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
75
Quarters on file since Q4 2007
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2012: 20 new, 13 added, 6 reduced, 15 exited

44 rows
NEXEN INC no ticker–12.0%$188m6.97m+68%added
COVENTRY HEALTH CARE INC no ticker–10.3%$162m3.62m+39%added
RALCORP HLDGS INC no ticker–10.3%$161m1.80m–new
SHAW GROUP INC no ticker–9.4%$148m3.17m+31%added
SPRINT NEXTEL CORP no ticker–6.8%$107m18.90m–new
WARNACO GROUP INC no ticker–5.4%$84.5m1.18m–new
STEWART ENTERPRISES INC no ticker–5.3%$82.5m10.80m0.0%held
PLAINS EXPL& PRODTN CO no ticker–4.6%$72.8m1.55m–new
JPM JPMORGAN CHASE & COFinancial Services4.5%$70.1m1.59m+43%added
APC3EUR ANADARKO PETE CORP–4.4%$68.4m920,000−6.1%reduced
PSS WORLD MED INC no ticker–3.3%$52.0m1.80m–new
SIXEUR SIX FLAGS ENTMT CORP NEW–3.0%$47.7m780,000−47%reduced
MCMORAN EXPLORATION CO no ticker–3.0%$47.5m2.96m+475%added
GM General Motors CorpConsumer Cyclical2.1%$33.3m2.08m+4.9%added
LEAP WIRELESS INTL INC no ticker–2.1%$32.9m4.95m0.0%held
DELPHI AUTOMOTIVE PLC no ticker–1.7%$26.8m700,000−46%reduced
LYONDELLBASELL INDUSTRIES NV no ticker–1.2%$19.4m339,700+17%added
ALTERRA CAPITAL HOLDINGS LIM no ticker–1.2%$18.3m650,000–new
GRA1EUR GRACE W R & CO DEL NEW–1.1%$17.7m263,700−15%reduced
CHIQUITA BRANDS INTL INC no ticker–1.1%$17.4m20.00m+67%added
NYSE EURONEXT no ticker–1.1%$17.2m543,937–new
TNS INC no ticker–1.1%$16.6m800,000–new
ZHONGPIN INC no ticker–0.8%$12.2m950,000–new
SIRIUS XM RADIO INC no ticker–0.7%$11.6m4.00m0.0%held
MCHB MECHANICS BANCORPFinancial Services0.6%$8.9m348,946+81%added
SPY SPDR S&P 500 ETF Trust–0.5%$8.5m60,000+85%added
KBW INC no ticker–0.3%$5.2m342,184–new
CITIZENS REPUBLIC BANCORP IN no ticker–0.3%$4.9m256,067+404%added
RETALIX LTD no ticker–0.3%$4.7m156,450–new
ONYX PHARMACEUTICALS INC no ticker–0.3%$4.1m53,861+173%added
SAUER-DANFOSS INC no ticker–0.2%$2.7m50,000–new
TEAVANA HLDGS INC no ticker–0.1%$2.1m135,900–new
BAC BANK OF AMER CORPFinancial Services0.1%$2.0m175,000−15%reduced
SANOFI RIGHT 12/31/2020 no ticker–0.1%$2.0m1.15m−26%reduced
CHIQUITA BRANDS INTL INC no ticker–0.1%$1.9m229,531–new
AIG American International GroupFinancial Services0.1%$1.7m48,300–new
GS GOLDMAN SACHS GROUP INCFinancial Services0.10%$1.5m12,0000.0%held
MIPS TECHNOLOGIES INC no ticker–0.09%$1.4m175,000–new
CYMER INC no ticker–0.06%$904k10,000–new
BEAM INC no ticker–0.05%$733k12,000–new
CUMULUS MEDIA INC no ticker–0.03%$425k158,9940.0%held
YM BIOSCIENCES INC no ticker–0.02%$373k130,000–new
YONGYE INTL INC no ticker–0.02%$350k60,000–new
KIPS BAY MED INC no ticker–0.01%$196k311,800+114%added

Exited since Q3 2012

15 rows
DOLLAR THRIFTY AUTOMOTIVE GP no ticker16.6%$224m
ARIBA INC no ticker9.6%$130m
AMERIGROUP CORP no ticker6.9%$93.3m
PAR PHARMACEUTICAL COS INC no ticker2.8%$37.3m
FUSHI COPPERWELD INC no ticker1.9%$26.0m
META META PLATFORMS INC1.9%$26.0m
MEDICIS PHARMACEUTICAL CORP no ticker0.6%$7.8m
QUEST SOFTWARE INC no ticker0.5%$7.0m
ALSN ALLISON TRANSMISSION HLDGS I0.4%$5.2m
BRIGHTPOINT INC no ticker0.08%$1.1m
DUFF & PHELPS CORP no ticker0.08%$1.0m
TPC GROUP INC no ticker0.06%$792k
CAR AVIS BUDGET GROUP INC0.05%$615k
BANK OF AMERICA CORPORATION 7.25%CNV no ticker0.03%$436k
ATP OIL & GAS CORPORATION no ticker0.02%$252k

Sector mix

  • Unclassified92.5%
  • Financial Services5.4%
  • Consumer Cyclical2.1%

Book over time

Every quarter on file (75)
QuarterPositionsEquity book
Q2 202659$12.5bn
Q1 202660$14.1bn
Q4 202547$13.8bn
Q3 202566$11.1bn
Q2 202564$7.8bn
Q1 202563$7.2bn
Q4 202455$5.8bn
Q3 202452$5.5bn
Q2 202453$4.6bn
Q1 202457$6.1bn
Q4 202368$5.3bn
Q3 202369$10.4bn
Q2 202386$8.0bn
Q1 202394$6.0bn
Q4 202280$3.2bn
Q3 2022100$6.6bn
Q2 2022115$5.9bn
Q1 2022121$5.4bn
Q4 2021157$6.3bn
Q3 2021183$7.3bn
Q2 2021259$9.7bn
Q1 2021276$8.6bn
Q4 2020190$6.5bn
Q3 2020180$5.0bn
Q2 2020129$3.4bn
Q1 202093$3.7bn
Q4 2019107$2.6bn
Q3 2019110$3.2bn
Q2 2019124$5.3bn
Q1 2019105$3.8bn
Q4 201898$5.1bn
Q3 2018107$6.6bn
Q2 201877$6.9bn
Q1 201849$8.4bn
Q4 201752$7.6bn
Q3 201755$6.3bn
Q2 201759$5.8bn
Q1 201753$4.7bn
Q4 201653$3.2bn
Q3 201671$5.4bn
Q2 201663$3.7bn
Q1 201648$6.3bn
Q4 201565$7.5bn
Q3 201588$7.3bn
Q2 2015103$11.5bn
Q1 201593$7.2bn
Q4 201487$7.4bn
Q3 2014113$6.5bn
Q2 201497$5.3bn
Q1 201485$2.2bn
Q4 201369$2.1bn
Q3 201380$2.4bn
Q2 201373$3.8bn
Q1 201341$1.3bn
Q4 201244$1.6bn
Q3 201239$1.3bn
Q2 201246$1.6bn
Q1 201242$1.8bn
Q4 201156$2.0bn
Q3 201154$1.4bn
Q2 201171$1.4bn
Q1 201171$2.2bn
Q4 201052$1.4bn
Q3 201052$1.5bn
Q2 201056$812m
Q1 201040$392m
Q4 200944$487m
Q3 200927$440m
Q2 200922$316m
Q1 200917$233m
Q4 200817$293m
Q3 200834$1.0bn
Q2 200828$728m
Q1 200827$1.0bn
Q4 200728$782m

Where Pentwater Capital Management LP was early

32 rows
BCE BCE INCQ1 20081 of 826.1%6.1%3Exited by Q4 2008+2.9%
HUN HUNTSMAN CORPQ1 20084 of 1438.9%8.9%4Exited by Q1 2009−85%
SPY STATE STR SPDR S&P 500 ETF TQ1 20087 of 2671.9%27.0%57Held at last filing, Q2 2026+466%
CMG CHIPOTLE MEXICAN GRILL INCQ2 20082 of 1851.4%1.7%3Exited by Q3 2009−3.2%
RGA REINSURANCE GROUP AMER INCQ1 20091 of 1021.8%1.8%6Exited by Q3 2010+41%
BAC BANK AMERICA CORPQ2 200912 of 23211.3%11.3%54Exited by Q1 2024+155%
CMCSA COMCAST CORPQ2 200917 of 2190.1%3.5%3Exited by Q3 2014+271%
AWK AMERICAN WTR WKS CO INC NEWQ4 20096 of 1230.6%1.2%2Exited by Q2 2010−2.9%
JPM JPMORGAN CHASE & COQ4 200912 of 2310.09%8.6%33Exited by Q1 2024+308%
FIS FIDELITY NATL INFORMATION SVQ2 20107 of 2257.1%7.1%3Exited by Q1 2011+2.1%
GS GOLDMAN SACHS GROUP INCQ2 201011 of 2298.0%8.0%21Exited by Q2 2022+151%
GM GENERAL MTRS COQ2 20111 of 1692.7%4.2%18Exited by Q4 2015−1.1%
META FACEBOOK INCQ2 20124 of 3842.1%2.1%2Exited by Q4 2012−30%
ZTS ZOETIS INCQ2 20132 of 17813.1%13.1%10Exited by Q1 2019+177%
CTB COOPER TIRE & RUBR COQ3 20131 of 652.9%2.9%3Exited by Q2 2021−46%
AAL AMERICAN AIRLINES GROUP INCQ4 201313 of 2383.9%3.9%27Exited by Q4 2022−52%
VOD VODAFONE GROUP PLCQ1 20143 of 1085.0%5.0%3Exited by Q4 2014−11%
SYF SYNCHRONY FINANCIALQ3 20143 of 1810.4%5.5%36Exited by Q1 2024+56%
BKR BAKER HUGHES A GE COQ4 20148 of 1784.6%5.9%7Exited by Q4 2019−59%
HUM HUMANA INCQ2 201513 of 2113.4%8.2%12Held at last filing, Q2 2026+108%
AVGO BROADCOM INCQ2 201516 of 3239.2%15.9%9Exited by Q2 2025+1160%
MXIM MAXIM INTEGRATED PRODS INCQ4 201510 of 1010.09%12.3%5Exited by Q3 2021+177%
SNDK SANDISK CORPQ4 201514 of 2335.9%11.2%2Exited by Q2 2016+0.1%
DELL DELL TECHNOLOGIES INCQ3 20169 of 2743.8%7.1%10Exited by Q1 2019+85%
TGNA TEGNA INCQ2 201715 of 1470.06%3.0%12Exited by Q1 2026−40%
AVA AVISTA CORPQ3 20179 of 990.2%1.0%5Exited by Q4 2018−2.3%
VICI VICI PPTYS INCQ1 201816 of 1632.1%3.0%23Exited by Q1 2024+74%
CI THE CIGNA GROUPQ4 201812 of 1921.1%1.1%5Exited by Q1 2024+58%
HHH HOWARD HUGHES CORPQ2 20199 of 1160.8%1.4%3Exited by Q1 2020+2.4%
COHR COHERENT INCQ1 202115 of 2633.5%5.9%6Exited by Q3 2022−25%
KVUE KENVUE INCQ2 202310 of 2030.03%7.8%9Held at last filing, Q2 2026−28%
AMC AMC ENTMT HLDGS INCQ3 20232 of 770.03%1.3%5Held at last filing, Q2 2026−76%

Concentration and tenure

17.9%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
76.3%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
1
Median completed holding, quarters