WhaleCreep

Pentwater Capital Management LP 13F holdings, Q3 2014

Hedge fundSEC filingsCompare with another fundHoldings as of 2014-09-30, filed 2014-11-14

Pentwater Capital Management LP disclosed 113 US equity positions worth $6.5bn in its Q3 2014 13F filing. Its largest position is DIRECTV at 14.2% of the reported book, followed by ALLERGAN INC and TIM HORTONS INC. Versus Q2 2014 it opened 42 new positions, added to 25, reduced 24 and exited 26.

$6.5bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
113
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
14.2%
Largest position
The largest single position as a share of the reported equity book.
67.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
17
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 Q2 2014: 42 new, 25 added, 24 reduced, 26 exited

50 of 113
DIRECTV no ticker–14.2%$918m10.61m+17%added
ALLERGAN INC no ticker–10.0%$650m3.65m−6.9%reduced
TIM HORTONS INC no ticker–8.3%$536m6.80m–new
TRW AUTOMOTIVE HLDGS CORP no ticker–6.7%$435m4.30m–new
TRQEUR TURQUOISE HILL RES LTD–6.5%$420m112.21m+0.3%held
TIME WARNER CABLE INC no ticker–5.8%$373m2.60m+1.9%added
COVIDIEN PLC no ticker–5.3%$343m3.96m+52%added
SALIX PHARMACEUTICALS INC no ticker–4.8%$312m2.00m–new
VALEANT PHARMACEUTICALS INTL no ticker–3.2%$205m1.56m+98%added
ZTS ZOETIS INCHealthcare2.4%$157m4.25m−26%reduced
KINDER MORGAN MANAGEMENT LLC no ticker–2.4%$153m1.62m–new
INTERNATIONAL GAME TECHNOLOG no ticker–2.3%$151m8.95m+4158%added
FAMILY DLR STORES INC no ticker–2.2%$142m1.84m–new
CBS OUTDOOR AMERS INC no ticker–2.1%$139m4.63m+11484%added
GM General Motors CorpConsumer Cyclical2.0%$128m4.02m+6.1%added
SHIRE PLC no ticker–1.6%$104m403,182+427%added
CBS CORP NEW no ticker–1.2%$79.3m1.48m−91%reduced
DIAMOND RESORTS INTL INC no ticker–1.1%$72.5m3.19m−0.5%held
CONCUR TECHNOLOGIES INC no ticker–1.0%$63.4m500,000–new
BALLY TECHNOLOGIES INC no ticker–0.9%$56.6m701,000–new
WALGREEN CO no ticker–0.8%$53.4m901,620+140%added
SIXEUR SIX FLAGS ENTMT CORP NEW–0.6%$41.3m1.20m–new
CHIQUITA BRANDS INTL INC no ticker–0.6%$40.6m2.86m+34%added
PFE PFIZER INCHealthcare0.6%$39.0m1.32m+300%added
SPY SPDR S&P 500 ETF Trust–0.6%$38.2m194,000+385%added
NPS PHARMACEUTICALS INC no ticker–0.6%$36.4m1.40m+288%added
TESLA MTRS INC no ticker–0.5%$32.3m16.00m0.0%held
MONTAGE TECHNOLOGY GROUP LTD no ticker–0.5%$31.4m1.50m+0.1%held
TALISMAN ENERGY INC no ticker–0.5%$31.1m3.60m–new
CLVSEUR CLOVIS ONCOLOGY INC–0.5%$29.5m650,000+12%added
SYF SYNCHRONY FINANCIALFinancial Services0.4%$29.0m1.18m–new
BURGER KING WORLDWIDE INC no ticker–0.4%$27.5m928,400–new
T86 TRI POINTE HOMES INC–0.4%$26.9m2.08m–new
EBIXEUR EBIX INC–0.4%$26.8m1.89m+10%added
LYONDELLBASELL INDUSTRIES NV no ticker–0.4%$26.1m240,000−64%reduced
GENTIVA HEALTH SERVICES INC no ticker–0.4%$25.2m1.50m+164%added
ESPREUR ESPERION THERAPEUTICS INC NE–0.4%$24.2m990,000−1.0%reduced
ANF ABERCROMBIE & FITCH COConsumer Cyclical0.4%$23.6m650,000+81%added
DRCEUR DRESSER-RAND GROUP INC–0.3%$22.3m271,328–new
PETSMART INC no ticker–0.3%$21.0m300,000–new
KYTHERA BIOPHARMACEUTICALS I no ticker–0.3%$20.3m619,400+1.4%added
BYD BOYD GAMING CORPConsumer Cyclical0.3%$18.9m1.86m+564%added
TIBCO SOFTWARE INC no ticker–0.3%$17.7m750,000–new
BOULEVARD ACQUISITION CORP no ticker–0.3%$17.2m1.77m0.0%held
HEARTWARE INTL INC no ticker–0.2%$15.5m14.00m0.0%held
ACTAVIS PLC no ticker–0.2%$15.1m62,500–new
BSBR BANCO SANTANDER BRASIL S AFinancial Services0.2%$14.5m2.21m+12%added
ISBCUSD INVESTORS BANCORP INC NEW–0.2%$13.1m1.30m−21%reduced
JPM JPMORGAN CHASE & COFinancial Services0.2%$12.7m210,822−18%reduced
HEARTWARE INTL INC no ticker–0.2%$11.6m150,000+4.2%added

Exited since Q2 2014

26 rows
FOREST LABS INC no ticker3.4%$179m
HILLSHIRE BRANDS CO no ticker3.2%$172m
WY WEYERHAEUSER CO1.7%$88.7m
QUESTCOR PHARMACEUTICALS INC no ticker1.5%$79.1m
CMCSA COMCAST CORP NEW0.9%$47.0m
MICROS SYS INC no ticker0.6%$30.6m
RDA MICROELECTRONICS INC no ticker0.5%$28.7m
MALLINCKRODT PUB LTD CO no ticker0.3%$18.2m
HITTITE MICROWAVE CORP no ticker0.3%$15.6m
YONGYE INTL INC no ticker0.3%$13.8m
GIANT INTERACTIVE GROUP INC no ticker0.2%$11.8m
IDENIX PHARMACEUTICALS INC no ticker0.2%$8.9m
MYLAN INC no ticker0.2%$8.3m
NORDION INC no ticker0.1%$7.5m
JAZZ JAZZ PHARMACEUTICALS PLC0.1%$5.9m
IRON MTN INC no ticker0.09%$4.8m
VISN VISTANCE NETWORKS INC0.09%$4.6m
LAMAR ADVERTISING CO no ticker0.07%$3.9m
AZN ASTRAZENECA PLC0.07%$3.7m
FUSION-IO INC no ticker0.03%$1.7m
WMB WILLIAMS COS INC0.03%$1.5m
STZ CONSTELLATION BRANDS INC0.02%$881k
OPENTABLE INC no ticker0.0%$259k
SPRINT CORPORATION no ticker0.0%$126k
VIVUS INC no ticker0.0%$77.0k
DREAMWORKS ANIMATION SKG INC no ticker0.0%$23.0k

Sector mix

  • Unclassified92.3%
  • Healthcare3.1%
  • Consumer Cyclical2.7%
  • Financial Services1.4%
  • Basic Materials0.3%
  • Industrials0.1%
  • Consumer Defensive0.07%
  • Communication Services0.07%
  • Real Estate0.05%
  • Technology0.01%

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