WhaleCreep

Pentwater Capital Management LP 13F holdings, Q4 2015

Hedge fundSEC filingsCompare with another fundHoldings as of 2015-12-31, filed 2016-03-18

Pentwater Capital Management LP disclosed 65 US equity positions worth $7.5bn in its Q4 2015 13F filing. Its largest position is ALLERGAN PLC at 17.9% of the reported book, followed by AVGO and TIME WARNER CABLE INC. Versus Q3 2015 it opened 23 new positions, added to 11, reduced 22 and exited 46.

$7.5bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
65
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
17.9%
Largest position
The largest single position as a share of the reported equity book.
82.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
10
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 2015: 23 new, 11 added, 22 reduced, 46 exited

50 of 65
ALLERGAN PLC no ticker–17.9%$1.3bn4.32m+15290%added
AVGO BROADCOM CORPTechnology15.9%$1.2bn20.73m−6.2%reduced
TIME WARNER CABLE INC no ticker–12.7%$962m5.19m−2.7%reduced
PRECISION CASTPARTS CORP no ticker–10.1%$761m3.28m−1.4%reduced
SNDK SANDISK CORPTechnology5.9%$447m5.88m–new
E M C CORP MASS no ticker–5.4%$407m15.86m–new
HUM HUMANA INCHealthcare4.2%$316m1.77m−5.8%reduced
TRQEUR TURQUOISE HILL RES LTD–3.9%$296m116.38m−0.3%held
SYF SYNCHRONY FINANCIALFinancial Services3.2%$242m7.95m+160%added
BKR BAKER HUGHES INCEnergy3.1%$232m5.02m−39%reduced
CVCEUR CABLEVISION SYS CORP–2.0%$153m4.80m−9.4%reduced
WMB WILLIAMS COS INCEnergy1.5%$111m4.30m+24%added
AVOLON HLDGS LTD no ticker–1.4%$103m3.33m+0.5%held
JAHEUR JARDEN CORP–1.2%$88.0m1.54m–new
RITE AID CORP no ticker–1.0%$77.8m9.92m–new
DYAX CORP no ticker–1.0%$74.9m1.99m–new
CAMERON INTERNATIONAL CORP no ticker–0.8%$58.6m927,700−54%reduced
DIAMOND RESORTS INTL INC no ticker–0.6%$49.0m1.92m−28%reduced
PREJF PARTNERRE LTDFinancial Services0.6%$48.9m350,000−15%reduced
ATML ATMEL CORP–0.6%$46.8m5.43m+10145%added
ARCPEUR VEREIT INC–0.6%$46.7m5.90m−25%reduced
PMC-SIERRA INC no ticker–0.6%$46.5m4.00m–new
YOUKU TUDOU INC no ticker–0.6%$46.1m1.70m–new
VALEANT PHARMACEUTICALS INTL no ticker–0.5%$38.7m381,000+1091%added
ESPREUR ESPERION THERAPEUTICS INC NE–0.4%$32.0m1.44m−0.8%reduced
TESLA MTRS INC no ticker–0.4%$31.4m16.00m0.0%held
SOLERA HOLDINGS INC no ticker–0.4%$28.8m525,400−47%reduced
ODPEUR OFFICE DEPOT INC–0.4%$26.5m4.70m+119%added
H HYATT HOTELS CORPConsumer Cyclical0.3%$26.3m560,000–new
HAL HALLIBURTON COEnergy0.3%$21.1m620,500–new
CHARTER COMMUNICATIONS INC D no ticker–0.3%$19.8m108,010−52%reduced
BIOMED REALTY TRUST INC no ticker–0.2%$17.8m750,000–new
AAL AMERICAN AIRLINES GROUP INCIndustrials0.2%$12.8m302,439−32%reduced
CZREUR CAESARS ENTMT CORP–0.2%$12.3m1.55m+48%added
PFE PFIZER INCHealthcare0.1%$11.3m350,000–new
AGFSEUR AGROFRESH SOLUTIONS INC–0.1%$9.4m1.48m−1.0%reduced
WDC WESTERN DIGITAL CORP.Technology0.1%$8.6m144,000–new
SPY SPDR S&P 500 ETF Trust–0.1%$8.2m40,000+15%added
HERBALIFE LTD no ticker–0.1%$8.0m9.53m−67%reduced
VIDEOCON D2H LTD no ticker–0.1%$7.9m885,000−1.7%reduced
GP INVTS ACQUISITION no ticker–0.1%$7.7m770,130–new
CB CHUBB CORPFinancial Services0.09%$6.6m50,000–new
MXIM MAXIM INTEGRATED PRODS INC–0.09%$6.5m170,000–new
MEDIA GEN INC NEW no ticker–0.07%$5.6m343,900–new
MPLX MPLX LPEnergy0.07%$5.3m135,000–new
TESLA MTRS INC no ticker–0.06%$4.6m5.00m0.0%held
KMI KINDER MORGAN INC DELEnergy0.06%$4.6m310,000+520%added
ATLANTIC ALLIANCE PARTNER CO no ticker–0.05%$4.0m400,0000.0%held
ET ENERGY TRANSFER LPEnergy0.05%$3.9m285,000+138%added
BUD ANHEUSER BUSCH INBEV SA NVConsumer Defensive0.05%$3.8m30,000–new

Exited since Q3 2015

46 rows
ALTERA CORP no ticker9.6%$694m
PRGO PERRIGO CO PLC4.4%$316m
SIGMA ALDRICH CORP no ticker2.5%$181m
FREESCALE SEMICONDUCTOR LTD no ticker2.1%$153m
STRATEGIC HOTELS & RESORTS I no ticker1.6%$115m
DEALERTRACK TECHNOLOGIES INC no ticker1.5%$109m
CYTEC INDS INC no ticker1.1%$80.4m
CIGNA CORPORATION no ticker1.1%$80.3m
HUDSON CITY BANCORP no ticker1.0%$71.3m
KYTHERA BIOPHARMACEUTICALS I no ticker0.9%$64.5m
MYLAN NV no ticker0.5%$38.6m
DOW CHEM CO no ticker0.4%$32.5m
HEALTH NET INC no ticker0.4%$32.2m
OM GROUP INC no ticker0.4%$32.1m
GE GENERAL ELECTRIC CO0.4%$27.4m
ZS PHARMA INC no ticker0.4%$26.8m
THORATEC CORP no ticker0.4%$26.2m
GM General Motors Corp0.3%$24.0m
CON-WAY INC no ticker0.3%$18.4m
TAP MOLSON COORS BEVERAGE CO0.3%$18.3m
T AT&T INC0.2%$16.7m
YODLEE INC no ticker0.2%$13.7m
WUXI PHARMATECH CAYMAN INC no ticker0.2%$13.0m
GP INVTS ACQUISITION COR no ticker0.1%$7.6m
YAHOO INC no ticker0.1%$7.5m
LIND LINDBLAD EXPEDITIONS HLDGS I0.08%$5.6m
LORLUSD LORAL SPACE & COM INC0.07%$5.0m
WRIGHT MED GROUP INC no ticker0.05%$3.9m
STONEGATE MTG CORP no ticker0.04%$3.1m
NORTEK INC no ticker0.03%$2.5m
XLRN ACCELERON PHARMA INC0.03%$2.4m
DEPOMED INC no ticker0.03%$2.1m
AAPL APPLE INC0.02%$1.8m
SYMETRA FINL CORP no ticker0.02%$1.3m
VSLR VIVINT SOLAR INC0.02%$1.2m
DIS DISNEY WALT CO0.01%$1.0m
STAPLES INC no ticker0.01%$587k
RYZ RYERSON HLDG CORP0.01%$577k
CARBYLAN THERAPEUTICS INC no ticker0.01%$408k
HORIZON PHARMA PLC no ticker0.01%$396k
OLN OLIN CORP0.0%$362k
PG PROCTER & GAMBLE CO0.0%$360k
LINDBLAD EXPEDITIONS HLDGS I no ticker0.0%$318k
JPM JPMORGAN CHASE & CO0.0%$244k
CBS CORP NEW no ticker0.0%$242k
WHITING PETE CORP NEW no ticker0.0%$153k

Sector mix

  • Unclassified64.2%
  • Technology21.9%
  • Energy5.0%
  • Healthcare4.3%
  • Financial Services4.0%
  • Consumer Cyclical0.3%
  • Industrials0.2%
  • Consumer Defensive0.09%
  • Real Estate0.0%

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