WhaleCreep

Pentwater Capital Management LP 13F holdings, Q4 2013

Hedge fundSEC filingsCompare with another fundHoldings as of 2013-12-31, filed 2014-02-14

Pentwater Capital Management LP disclosed 69 US equity positions worth $2.1bn in its Q4 2013 13F filing. Its largest position is TIME WARNER CABLE INC at 14.5% of the reported book, followed by TRQEUR and ZTS. Versus Q3 2013 it opened 24 new positions, added to 17, reduced 16 and exited 35.

$2.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
69
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.5%
Largest position
The largest single position as a share of the reported equity book.
68.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
16
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 2013: 24 new, 17 added, 16 reduced, 35 exited

50 of 69
TIME WARNER CABLE INC no ticker–14.5%$299m2.21m–new
TRQEUR TURQUOISE HILL RES LTD–12.2%$251m76.18m+128%added
ZTS ZOETIS INCHealthcare8.4%$173m5.30m−31%reduced
VIROPHARMA INC no ticker–6.9%$141m2.83m+127%added
LENDER PROCESSING SVCS INC no ticker–6.8%$140m3.76m−12%reduced
HEALTH MGMT ASSOC INC no ticker–5.0%$104m7.93m+74%added
AAL AMERICAN AIRLINES GROUP INCIndustrials3.9%$79.3m3.14m–new
LIFE TECHNOLOGIES CORP no ticker–3.7%$75.8m1.00m−63%reduced
LYONDELLBASELL INDUSTRIES NV no ticker–3.6%$73.5m915,000−1.3%reduced
TURQUOISE HILL RES LTD no ticker–3.4%$69.4m72.31m–new
GM General Motors CorpConsumer Cyclical2.4%$48.8m1.42m−21%reduced
APC3EUR ANADARKO PETE CORP–2.2%$44.4m560,000+65%added
PACTERA TECHNOLOGY INTL LTD no ticker–2.1%$43.5m6.09m+0.5%held
JOS A BANK CLOTHIERS INC no ticker–2.0%$41.1m750,000–new
EBIXEUR EBIX INC–1.7%$35.9m2.44m−30%reduced
CHIQUITA BRANDS INTL INC no ticker–1.5%$30.3m2.59m+56%added
YONGYE INTL INC no ticker–1.2%$25.6m4.00m+100%added
HEARTWARE INTL INC no ticker–1.2%$25.0m266,000−26%reduced
SIXEUR SIX FLAGS ENTMT CORP NEW–1.2%$24.3m659,900−33%reduced
TESLA MTRS INC no ticker–1.1%$22.3m16.00m+33%added
RDA MICROELECTRONICS INC no ticker–1.1%$22.2m1.24m–new
WALTER ENERGY INC no ticker–0.9%$19.5m1.17m+12%added
LNCOEUR LINNCO LLC–0.9%$18.3m595,228–new
HEARTWARE INTL INC no ticker–0.9%$18.1m15.00m0.0%held
JPM JPMORGAN CHASE & COFinancial Services0.7%$15.3m262,196−51%reduced
DIAMOND RESORTS INTL INC no ticker–0.7%$14.9m804,591+166%added
GIANT INTERACTIVE GROUP INC no ticker–0.7%$13.5m1.20m–new
JONES GROUP INC no ticker–0.6%$13.2m885,000–new
ASIAINFO-LINKAGE INC no ticker–0.6%$12.3m1.03m+91%added
CTB COOPER TIRE & RUBR CO–0.6%$11.5m480,000−79%reduced
NMIH NMI HLDGS INCFinancial Services0.6%$11.3m891,100–new
SILVER EAGLE ACQUISITION COR no ticker–0.5%$11.1m1.11m+11%added
TOWR TOWER INTL INC–0.5%$10.1m470,000+18%added
MTB M & T BK CORPFinancial Services0.5%$9.8m84,000–new
FLYGBP FLY LEASING LTD–0.5%$9.6m600,000−33%reduced
ESPREUR ESPERION THERAPEUTICS INC NE–0.4%$8.8m641,900+49%added
DAR DARLING INGREDIENTS INCConsumer Defensive0.4%$8.8m420,000–new
CAPITOL ACQUISITION CORP II no ticker–0.4%$8.7m900,1000.0%held
EDWARDS GROUP LTD no ticker–0.4%$8.3m817,700+2.2%added
BRSSUSD GLOBAL BRASS & COPPR HLDGS I–0.3%$6.6m398,400−6.3%reduced
MCHB MECHANICS BANCORPFinancial Services0.3%$6.4m322,378+0.2%held
GRA1EUR GRACE W R & CO DEL NEW–0.3%$5.9m60,000−33%reduced
CHIQUITA BRANDS INTL INC no ticker–0.3%$5.9m6.00m0.0%held
CLVSEUR CLOVIS ONCOLOGY INC–0.3%$5.4m90,000–new
QUINPARIO ACQUISITION CORP no ticker–0.3%$5.2m517,400–new
CLUBCORP HLDGS INC no ticker–0.2%$3.5m200,000–new
CAESARS ACQUISITION CO no ticker–0.2%$3.4m280,000–new
VIVUS INC no ticker–0.1%$3.0m327,831+9.3%added
BAC BANK OF AMER CORPFinancial Services0.1%$2.6m165,0000.0%held
CSTM CONSTELLIUM SEBasic Materials0.1%$2.3m100,000−5.5%reduced

Exited since Q3 2013

35 rows
DELL INC no ticker13.6%$331m
ELAN PLC no ticker4.8%$116m
SPREADTRUM COMMUNICATIONS IN no ticker4.3%$105m
STEWART ENTERPRISES INC no ticker3.5%$84.5m
SPY SPDR S&P 500 ETF Trust3.4%$82.3m
WMS INDS INC no ticker2.2%$54.4m
OFFICEMAX INC DEL no ticker2.2%$53.3m
BELO CORP no ticker1.6%$39.0m
NYSE EURONEXT no ticker1.0%$23.8m
DOLE FOOD CO INC NEW no ticker0.5%$12.9m
STZ CONSTELLATION BRANDS INC0.5%$12.3m
BERRY PETE CO no ticker0.5%$12.1m
ONYX PHARMACEUTICALS INC no ticker0.5%$11.7m
RUE21 INC no ticker0.5%$11.7m
ICUI ICU MED INC0.4%$9.8m
SHFL ENTMT INC no ticker0.4%$9.2m
ZOLTEK COS INC no ticker0.3%$8.3m
SAKS INC no ticker0.3%$8.0m
SOURCEFIRE INC no ticker0.3%$7.6m
UCP INC no ticker0.2%$5.9m
QUINPARIO ACQUISITION CORP no ticker0.2%$5.3m
BXMT BLACKSTONE MTG TR INC0.1%$3.5m
MB FINANCIAL INC NEW no ticker0.1%$3.0m
SIMCERE PHARMACEUTICAL GROUP no ticker0.1%$2.6m
BMRN BIOMARIN PHARMACEUTICAL INC0.08%$2.0m
COMMONWEALTH REIT no ticker0.08%$1.9m
CUBI CUSTOMERS BANCORP INC0.07%$1.6m
OPK OPKO HEALTH INC0.06%$1.5m
BCC BOISE CASCADE CO DEL0.06%$1.5m
XONECHF EXONE CO0.03%$852k
HLF HERBALIFE LTD0.03%$823k
U S AIRWAYS GROUP INC no ticker0.02%$544k
HI-TECH PHARMACAL INC no ticker0.02%$468k
SANOFI no ticker0.02%$367k
VANGUARD HEALTH SYS INC no ticker0.01%$270k

Sector mix

  • Unclassified82.4%
  • Healthcare8.4%
  • Industrials3.9%
  • Consumer Cyclical2.4%
  • Financial Services2.3%
  • Consumer Defensive0.5%
  • Basic Materials0.1%
  • Technology0.05%

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