WhaleCreep

Pentwater Capital Management LP 13F holdings, Q4 2014

Hedge fundSEC filingsCompare with another fundHoldings as of 2014-12-31, filed 2015-02-17

Pentwater Capital Management LP disclosed 87 US equity positions worth $7.4bn in its Q4 2014 13F filing. Its largest position is ALLERGAN INC at 16.0% of the reported book, followed by DIRECTV and COVIDIEN PLC. Versus Q3 2014 it opened 21 new positions, added to 22, reduced 26 and exited 47.

$7.4bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
87
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
16.0%
Largest position
The largest single position as a share of the reported equity book.
73.4%
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 Q3 2014: 21 new, 22 added, 26 reduced, 47 exited

50 of 87
ALLERGAN INC no ticker–16.0%$1.2bn5.59m+53%added
DIRECTV no ticker–12.5%$927m10.69m+0.8%added
COVIDIEN PLC no ticker–10.8%$802m7.84m+98%added
TRW AUTOMOTIVE HLDGS CORP no ticker–6.7%$499m4.85m+13%added
CAREFUSION CORP no ticker–5.8%$430m7.25m–new
TRQEUR TURQUOISE HILL RES LTD–5.6%$412m132.95m+18%added
TIME WARNER CABLE INC no ticker–5.4%$401m2.64m+1.5%added
BKR BAKER HUGHES INCEnergy4.6%$340m6.07m–new
CUBIST PHARMACEUTICALS INC no ticker–3.5%$261m2.59m–new
SALIX PHARMACEUTICALS INC no ticker–2.3%$173m1.50m−25%reduced
DRCEUR DRESSER-RAND GROUP INC–2.2%$165m2.02m+644%added
COVANCE INC no ticker–2.0%$146m1.41m–new
FAMILY DLR STORES INC no ticker–1.9%$143m1.80m−2.2%reduced
GM General Motors CorpConsumer Cyclical1.9%$139m3.98m−1.0%reduced
ZTS ZOETIS INCHealthcare1.8%$137m3.18m−25%reduced
AUXILIUM PHARMACEUTICALS INC no ticker–1.8%$130m3.77m+6760%added
INTERNATIONAL GAME TECHNOLOG no ticker–1.4%$102m5.92m−34%reduced
TALISMAN ENERGY INC no ticker–1.3%$99.2m12.67m+252%added
DIAMOND RESORTS INTL INC no ticker–1.2%$87.9m3.15m−1.1%reduced
PETSMART INC no ticker–1.1%$81.3m1.00m+233%added
ESPREUR ESPERION THERAPEUTICS INC NE–0.8%$59.4m1.47m+48%added
NPS PHARMACEUTICALS INC no ticker–0.8%$56.5m1.58m+13%added
SPY SPDR S&P 500 ETF Trust–0.6%$45.6m221,750+14%added
CHIQUITA BRANDS INTL INC no ticker–0.6%$42.6m2.95m+2.9%added
CZREUR CAESARS ENTMT CORP–0.5%$37.3m2.38m+1090%added
T86 TRI POINTE HOMES INC–0.4%$29.9m1.96m−5.5%reduced
TESLA MTRS INC no ticker–0.4%$29.7m16.00m0.0%held
CLVSEUR CLOVIS ONCOLOGY INC–0.4%$27.7m494,600−24%reduced
EBIXEUR EBIX INC–0.3%$23.8m1.40m−26%reduced
TRULIA INC no ticker–0.3%$23.0m500,200–new
SPANSION INC no ticker–0.2%$17.8m520,000–new
KYTHERA BIOPHARMACEUTICALS I no ticker–0.2%$17.3m500,000−19%reduced
BOULEVARD ACQUISITION CORP no ticker–0.2%$17.1m1.77m0.0%held
AVANIR PHARMACEUTICALS INC no ticker–0.2%$16.9m1.00m–new
ANF ABERCROMBIE & FITCH COConsumer Cyclical0.2%$16.3m570,000−12%reduced
BROOKFIELD RESIDENTIAL PPTYS no ticker–0.2%$15.9m660,402–new
SAPIENT CORP no ticker–0.2%$15.7m632,400–new
HEARTWARE INTL INC no ticker–0.2%$15.0m14.00m0.0%held
QSR RESTAURANT BRANDS INTL INCConsumer Cyclical0.2%$14.9m380,924–new
KINDER MORGAN INC DEL no ticker–0.2%$13.6m3.20m+60%added
GENTIVA HEALTH SERVICES INC no ticker–0.2%$11.9m625,556−58%reduced
HEARTWARE INTL INC no ticker–0.2%$11.7m160,000+6.7%added
SILVER EAGLE ACQUISITION COR no ticker–0.1%$10.9m1.11m0.0%held
CBS CORP NEW no ticker–0.1%$10.8m194,603−87%reduced
LYONDELLBASELL INDUSTRIES NV no ticker–0.1%$9.9m125,000−48%reduced
OCUL OCULAR THERAPEUTIX INCHealthcare0.1%$9.4m400,000−18%reduced
VOLCANO CORPORATION no ticker–0.1%$8.9m500,000–new
CAPITOL ACQUISITION CORP II no ticker–0.1%$8.9m900,1000.0%held
TORNIER N V no ticker–0.1%$8.3m325,785–new
AVOLON HLDGS LTD no ticker–0.1%$7.9m400,000–new

Exited since Q3 2014

47 rows
TIM HORTONS INC no ticker8.3%$536m
VALEANT PHARMACEUTICALS INTL no ticker3.2%$205m
KINDER MORGAN MANAGEMENT LLC no ticker2.4%$153m
CBS OUTDOOR AMERS INC no ticker2.1%$139m
SHIRE PLC no ticker1.6%$104m
CONCUR TECHNOLOGIES INC no ticker1.0%$63.4m
BALLY TECHNOLOGIES INC no ticker0.9%$56.6m
WALGREEN CO no ticker0.8%$53.4m
SIXEUR SIX FLAGS ENTMT CORP NEW0.6%$41.3m
MONTAGE TECHNOLOGY GROUP LTD no ticker0.5%$31.4m
SYF SYNCHRONY FINANCIAL0.4%$29.0m
BURGER KING WORLDWIDE INC no ticker0.4%$27.5m
TIBCO SOFTWARE INC no ticker0.3%$17.7m
ACTAVIS PLC no ticker0.2%$15.1m
BSBR BANCO SANTANDER BRASIL S A0.2%$14.5m
ISBCUSD INVESTORS BANCORP INC NEW0.2%$13.1m
TWXCHF TIME WARNER INC0.2%$11.3m
BRSSUSD GLOBAL BRASS & COPPR HLDGS I0.2%$11.1m
URS CORP NEW no ticker0.2%$10.4m
EPEEUR EP ENERGY CORP0.2%$10.1m
INTERNATIONAL RECTIFIER CORP no ticker0.1%$7.8m
CONVERSANT INC no ticker0.1%$7.0m
ZILLOW INC no ticker0.10%$6.5m
FLYGBP FLY LEASING LTD0.10%$6.1m
PIKE ELEC CORP no ticker0.09%$5.6m
SFLY SHUTTERFLY INC0.08%$4.9m
AERCAP HOLDINGS NV no ticker0.06%$4.1m
TW TELECOM INC no ticker0.05%$3.3m
B/E AEROSPACE INC no ticker0.05%$2.9m
BANKRATE INC DEL no ticker0.04%$2.8m
COMPUTER SCIENCES CORP no ticker0.04%$2.8m
MULTIMEDIA GAMES HLDG CO INC no ticker0.03%$2.2m
TMUS T-MOBILE US INC0.03%$1.7m
VOD VODAFONE GROUP PLC NEW0.02%$1.4m
VZ VERIZON COMMUNICATIONS INC0.02%$1.3m
NEWSTAR FINANCIAL INC no ticker0.02%$1.3m
COMPUWARE CORP no ticker0.02%$1.1m
DOW CHEM CO no ticker0.02%$1.0m
SPKEEUR SPARK ENERGY INC0.02%$1.0m
ECLIPSE RES CORP no ticker0.02%$997k
IBP INSTALLED BLDG PRODS INC0.01%$948k
QLT INC no ticker0.01%$691k
AAPL APPLE INC0.01%$581k
PRKS UNITED PARKS & RESORTS INC0.01%$481k
ROUNDYS INC no ticker0.0%$299k
KODIAK OIL & GAS CORP no ticker0.0%$122k
KIPS BAY MED INC no ticker0.0%$53.0k

Sector mix

  • Unclassified90.4%
  • Energy4.6%
  • Consumer Cyclical2.3%
  • Healthcare2.0%
  • Financial Services0.3%
  • Industrials0.2%
  • Basic Materials0.1%
  • Consumer Defensive0.09%
  • Real Estate0.03%

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