WhaleCreep

Pentwater Capital Management LP 13F holdings, Q2 2014

Hedge fundSEC filingsCompare with another fundHoldings as of 2014-06-30, filed 2014-08-14

Pentwater Capital Management LP disclosed 97 US equity positions worth $5.3bn in its Q2 2014 13F filing. Its largest position is CBS CORP NEW at 19.0% of the reported book, followed by DIRECTV and ALLERGAN INC. Versus Q1 2014 it opened 45 new positions, added to 19, reduced 22 and exited 33.

$5.3bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
97
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
19.0%
Largest position
The largest single position as a share of the reported equity book.
77.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
11
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 Q1 2014: 45 new, 19 added, 22 reduced, 33 exited

50 of 97
CBS CORP NEW no ticker–19.0%$1.0bn16.20m+26897%added
DIRECTV no ticker–14.5%$771m9.07m–new
ALLERGAN INC no ticker–12.5%$663m3.92m–new
TIME WARNER CABLE INC no ticker–7.1%$376m2.55m+3.3%added
TRQEUR TURQUOISE HILL RES LTD–7.0%$374m111.92m−9.5%reduced
COVIDIEN PLC no ticker–4.4%$235m2.60m–new
ZTS ZOETIS INCHealthcare3.5%$185m5.74m+10%added
FOREST LABS INC no ticker–3.4%$179m1.81m+261%added
HILLSHIRE BRANDS CO no ticker–3.2%$172m2.77m–new
GM General Motors CorpConsumer Cyclical2.6%$138m3.79m+38%added
VALEANT PHARMACEUTICALS INTL no ticker–1.9%$99.1m785,847–new
WY WEYERHAEUSER COReal Estate1.7%$88.7m2.68m–new
QUESTCOR PHARMACEUTICALS INC no ticker–1.5%$79.1m854,800–new
DIAMOND RESORTS INTL INC no ticker–1.4%$74.5m3.20m+11%added
LYONDELLBASELL INDUSTRIES NV no ticker–1.2%$65.4m670,000−8.2%reduced
CMCSA COMCAST CORP NEWCommunication Services0.9%$47.0m874,800−43%reduced
TESLA MTRS INC no ticker–0.6%$32.6m16.00m0.0%held
MONTAGE TECHNOLOGY GROUP LTD no ticker–0.6%$31.1m1.50m+525%added
MICROS SYS INC no ticker–0.6%$30.6m450,602–new
RDA MICROELECTRONICS INC no ticker–0.5%$28.7m1.68m+8.4%added
WALGREEN CO no ticker–0.5%$27.8m375,000–new
B/E AEROSPACE INC no ticker–0.5%$25.9m280,000–new
EBIXEUR EBIX INC–0.5%$24.6m1.72m+6.8%added
CLVSEUR CLOVIS ONCOLOGY INC–0.5%$23.9m577,800+388%added
KYTHERA BIOPHARMACEUTICALS I no ticker–0.4%$23.4m610,690+57%added
CHIQUITA BRANDS INTL INC no ticker–0.4%$23.1m2.13m−2.3%reduced
EPEEUR EP ENERGY CORP–0.4%$20.7m900,000−36%reduced
MALLINCKRODT PUB LTD CO no ticker–0.3%$18.2m227,600–new
ISBCUSD INVESTORS BANCORP INC NEW–0.3%$18.2m1.65m–new
SHIRE PLC no ticker–0.3%$18.0m76,570–new
BOULEVARD ACQUISITION CORP no ticker–0.3%$17.4m1.77m–new
HEARTWARE INTL INC no ticker–0.3%$16.4m14.00m0.0%held
ESPREUR ESPERION THERAPEUTICS INC NE–0.3%$15.8m1.00m+13%added
HITTITE MICROWAVE CORP no ticker–0.3%$15.6m200,000–new
ANF ABERCROMBIE & FITCH COConsumer Cyclical0.3%$15.6m360,000+350%added
JPM JPMORGAN CHASE & COFinancial Services0.3%$14.8m256,796−2.8%reduced
YONGYE INTL INC no ticker–0.3%$13.8m1.97m+16%added
BSBR BANCO SANTANDER BRASIL S AFinancial Services0.3%$13.7m1.98m–new
BRSSUSD GLOBAL BRASS & COPPR HLDGS I–0.2%$12.8m760,000−5.0%reduced
HEARTWARE INTL INC no ticker–0.2%$12.7m144,000−30%reduced
CSTM CONSTELLIUM SEBasic Materials0.2%$12.2m380,000−20%reduced
NPS PHARMACEUTICALS INC no ticker–0.2%$11.9m360,000–new
GIANT INTERACTIVE GROUP INC no ticker–0.2%$11.8m1.00m−33%reduced
ALLY ALLY FINL INCFinancial Services0.2%$11.8m495,000–new
SILVER EAGLE ACQUISITION COR no ticker–0.2%$10.9m1.11m–new
MTB M & T BK CORPFinancial Services0.2%$10.4m84,0000.0%held
PFE PFIZER INCHealthcare0.2%$9.8m330,000–new
AAL AMERICAN AIRLINES GROUP INCIndustrials0.2%$9.1m211,374+93%added
IDENIX PHARMACEUTICALS INC no ticker–0.2%$8.9m370,000–new
CAPITOL ACQUISITION CORP II no ticker–0.2%$8.8m900,1000.0%held

Exited since Q1 2014

33 rows
BEAM INC no ticker6.1%$137m
JOS A BANK CLOTHIERS INC no ticker6.1%$135m
AMERICAN AIRLINES GROUP INC no ticker1.7%$38.6m
AUTONAVI HLDGS LTD no ticker1.6%$35.5m
BOULEVARD ACQUISITION CORP no ticker0.8%$16.8m
DAR DARLING INGREDIENTS INC0.7%$15.6m
INVESTORS BANCORP INC no ticker0.7%$14.9m
JONES GROUP INC no ticker0.6%$13.2m
SILVER EAGLE ACQUISITION COR no ticker0.5%$11.5m
HERTZ GLOBAL HOLDINGS INC no ticker0.4%$8.0m
HENNESSY CAPITAL ACQUISITION no ticker0.3%$7.0m
QUINPARIO ACQUISITION CORP no ticker0.3%$6.6m
AXE3EUR ANIXTER INTL INC0.3%$6.1m
SAFEWAY INC no ticker0.3%$5.9m
SIRI SIRIUS XM HOLDINGS INC0.2%$4.5m
LNCOEUR LINNCO LLC0.2%$3.9m
TEXAS INDS INC no ticker0.2%$3.6m
LIN MEDIA LLC no ticker0.09%$2.1m
SYNAGEVA BIOPHARMA CORP no ticker0.09%$2.1m
SONUS NETWORKS INC no ticker0.09%$1.9m
RNG RINGCENTRAL INC0.08%$1.7m
CLUBCORP HLDGS INC no ticker0.08%$1.7m
OPHTHOTECH CORP no ticker0.06%$1.4m
JCPCHF PENNEY J C INC0.05%$1.1m
ANRZQEUR ALPHA NAT RES INC0.03%$765k
RF MICRODEVICES INC no ticker0.03%$660k
CHGG CHEGG INC0.02%$525k
ZALE CORP NEW no ticker0.02%$523k
DIS DISNEY WALT CO0.02%$480k
EINSTEIN NOAH REST GROUP INC no ticker0.02%$412k
QUINPARIO ACQUISITION CORP no ticker0.02%$361k
MEDIA GEN INC no ticker0.01%$315k
AMERICAN APPAREL INC no ticker0.0%$60.0k

Sector mix

  • Unclassified88.6%
  • Healthcare3.9%
  • Consumer Cyclical3.0%
  • Real Estate1.7%
  • Financial Services1.2%
  • Communication Services1.1%
  • Basic Materials0.2%
  • Industrials0.2%
  • Technology0.09%
  • Consumer Defensive0.04%
  • Energy0.03%

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