WhaleCreep

Pentwater Capital Management LP 13F holdings, Q1 2014

Hedge fundSEC filingsCompare with another fundHoldings as of 2014-03-31, filed 2014-05-15

Pentwater Capital Management LP disclosed 85 US equity positions worth $2.2bn in its Q1 2014 13F filing. Its largest position is TRQEUR at 18.5% of the reported book, followed by TIME WARNER CABLE INC and ZTS. Versus Q4 2013 it opened 36 new positions, added to 20, reduced 15 and exited 20.

$2.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
85
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
18.5%
Largest position
The largest single position as a share of the reported equity book.
70.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
13
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 Q4 2013: 36 new, 20 added, 15 reduced, 20 exited

50 of 85
TRQEUR TURQUOISE HILL RES LTD–18.5%$412m123.68m+62%added
TIME WARNER CABLE INC no ticker–15.2%$339m2.47m+12%added
ZTS ZOETIS INCHealthcare6.7%$150m5.20m−1.9%reduced
BEAM INC no ticker–6.1%$137m1.64m+27242%added
JOS A BANK CLOTHIERS INC no ticker–6.1%$135m2.10m+180%added
VOD VODAFONE GROUP PLC NEWCommunication Services5.0%$110m3.00m–new
GM General Motors CorpConsumer Cyclical4.2%$92.9m2.74m+93%added
CMCSA COMCAST CORP NEWCommunication Services3.5%$77.1m1.54m–new
LYONDELLBASELL INDUSTRIES NV no ticker–2.9%$64.9m730,000−20%reduced
DIAMOND RESORTS INTL INC no ticker–2.2%$48.8m2.88m+258%added
FOREST LABS INC no ticker–2.1%$46.1m500,000–new
AMERICAN AIRLINES GROUP INC no ticker–1.7%$38.6m1.40m–new
AUTONAVI HLDGS LTD no ticker–1.6%$35.5m1.77m–new
TESLA MOTORS INC no ticker–1.3%$28.8m16.00m0.0%held
RDA MICROELECTRONICS INC no ticker–1.2%$27.7m1.55m+25%added
EBIXEUR EBIX INC–1.2%$27.5m1.61m−34%reduced
EPEEUR EP ENERGY CORP–1.2%$27.4m1.40m–new
CHIQUITA BRANDS INTL INC no ticker–1.2%$27.2m2.18m−16%reduced
HEARTWARE INTL INC no ticker–0.9%$19.4m207,000−22%reduced
GIANT INTERACTIVE GROUP INC no ticker–0.8%$17.4m1.50m+25%added
HEARTWARE INTL INC no ticker–0.8%$17.0m14.00m−6.7%reduced
BOULEVARD ACQUISITION CORP no ticker–0.8%$16.8m1.67m–new
JPM JPMORGAN CHASE & COFinancial Services0.7%$16.0m264,096+0.7%added
DAR DARLING INGREDIENTS INCConsumer Defensive0.7%$15.6m780,000+86%added
KYTHERA BIOPHARMACEUTICALS I no ticker–0.7%$15.5m390,000–new
INVESTORS BANCORP INC no ticker–0.7%$14.9m540,300–new
CSTM CONSTELLIUM SEBasic Materials0.6%$14.0m477,813+378%added
ESPREUR ESPERION THERAPEUTICS INC NE–0.6%$13.4m886,224+38%added
JONES GROUP INC no ticker–0.6%$13.2m885,0000.0%held
BRSSUSD GLOBAL BRASS & COPPR HLDGS I–0.6%$12.6m800,000+101%added
TOWR TOWER INTL INC–0.5%$12.2m450,000−4.3%reduced
YONGYE INTL INC no ticker–0.5%$11.6m1.70m−57%reduced
SILVER EAGLE ACQUISITION COR no ticker–0.5%$11.5m1.11m+0.7%added
MTB M & T BK CORPFinancial Services0.5%$10.2m84,0000.0%held
STONEGATE MTG CORP no ticker–0.4%$9.0m604,543+1368%added
CAPITOL ACQUISITION CORP II no ticker–0.4%$8.9m900,1000.0%held
WALTER ENERGY INC no ticker–0.4%$8.6m1.14m−2.6%reduced
CLVSEUR CLOVIS ONCOLOGY INC–0.4%$8.2m118,500+32%added
FLYGBP FLY LEASING LTD–0.4%$8.2m545,000−9.2%reduced
HERTZ GLOBAL HOLDINGS INC no ticker–0.4%$8.0m300,000–new
HENNESSY CAPITAL ACQUISITION no ticker–0.3%$7.0m695,142–new
LAMAR ADVERTISING CO no ticker–0.3%$6.6m130,000–new
QUINPARIO ACQUISITION CORP no ticker–0.3%$6.6m640,000+24%added
NMIH NMI HLDGS INCFinancial Services0.3%$6.6m561,542−37%reduced
HLF HERBALIFE LTDConsumer Defensive0.3%$6.5m113,900–new
MCHB MECHANICS BANCORPFinancial Services0.3%$6.3m322,3780.0%held
AXE3EUR ANIXTER INTL INC–0.3%$6.1m60,000–new
GRA1EUR GRACE W R & CO DEL NEW–0.3%$6.0m60,0000.0%held
SAFEWAY INC no ticker–0.3%$5.9m160,000–new
MONTAGE TECHNOLOGY GROUP LTD no ticker–0.2%$4.8m240,200–new

Exited since Q4 2013

20 rows
VIROPHARMA INC no ticker6.9%$141m
LENDER PROCESSING SVCS INC no ticker6.8%$140m
HEALTH MGMT ASSOC INC no ticker5.0%$104m
LIFE TECHNOLOGIES CORP no ticker3.7%$75.8m
TURQUOISE HILL RES LTD no ticker3.4%$69.4m
APC3EUR ANADARKO PETE CORP2.2%$44.4m
PACTERA TECHNOLOGY INTL LTD no ticker2.1%$43.5m
SIXEUR SIX FLAGS ENTMT CORP NEW1.2%$24.3m
ASIAINFO-LINKAGE INC no ticker0.6%$12.3m
CTB COOPER TIRE & RUBR CO0.6%$11.5m
EDWARDS GROUP LTD no ticker0.4%$8.3m
CHIQUITA BRANDS INTL INC no ticker0.3%$5.9m
CAESARS ACQUISITION CO no ticker0.2%$3.4m
WLHUSD LYON WILLIAM HOMES0.09%$1.9m
AAPL APPLE INC0.05%$1.1m
RIVERBED TECHNOLOGY INC no ticker0.05%$994k
SOLTA MED INC no ticker0.03%$590k
EROS INTL PLC no ticker0.03%$556k
NUPATHE INC no ticker0.01%$308k
SPRINT CORPORATION no ticker0.01%$263k

Sector mix

  • Unclassified76.4%
  • Communication Services8.6%
  • Healthcare6.7%
  • Consumer Cyclical4.3%
  • Financial Services2.0%
  • Consumer Defensive1.1%
  • Basic Materials0.6%
  • Industrials0.2%
  • Technology0.08%

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