WhaleCreep

Pentwater Capital Management LP 13F holdings, Q1 2016

Hedge fundSEC filingsCompare with another fundHoldings as of 2016-03-31, filed 2016-05-16

Pentwater Capital Management LP disclosed 48 US equity positions worth $6.3bn in its Q1 2016 13F filing. Its largest position is ALLERGAN PLC at 20.6% of the reported book, followed by TIME WARNER CABLE INC and SNDK. Versus Q4 2015 it opened 12 new positions, added to 13, reduced 19 and exited 29.

$6.3bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
48
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
20.6%
Largest position
The largest single position as a share of the reported equity book.
83.3%
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 Q4 2015: 12 new, 13 added, 19 reduced, 29 exited

48 rows
ALLERGAN PLC no ticker–20.6%$1.3bn4.81m+11%added
TIME WARNER CABLE INC no ticker–15.9%$999m4.88m−5.8%reduced
SNDK SANDISK CORPTechnology11.2%$704m9.25m+57%added
BAXALTA INC no ticker–7.8%$488m12.07m+120600%added
E M C CORP MASS no ticker–7.6%$478m17.94m+13%added
STARWOOD HOTELS&RESORTS WRLD no ticker–5.0%$313m3.75m–new
TRQEUR TURQUOISE HILL RES LTD–4.2%$265m104.17m−10%reduced
HUM HUMANA INCHealthcare4.1%$258m1.41m−20%reduced
SYF SYNCHRONY FINANCIALFinancial Services3.8%$238m8.30m+4.5%added
ADT THE ADT CORPORATIONIndustrials3.1%$192m4.66m–new
CAMERON INTERNATIONAL CORP no ticker–2.6%$161m2.41m+159%added
CVCEUR CABLEVISION SYS CORP–2.5%$157m4.76m−0.8%reduced
VALEANT PHARMACEUTICALS INTL no ticker–1.8%$115m4.39m+1053%added
RITE AID CORP no ticker–1.8%$114m14.00m+41%added
BKR BAKER HUGHES INCEnergy1.7%$109m2.48m−51%reduced
DIAMOND RESORTS INTL INC no ticker–0.8%$49.9m2.06m+7.1%added
ATML ATMEL CORP–0.7%$45.0m5.54m+2.1%added
ARCPEUR VEREIT INC–0.6%$40.6m4.58m−22%reduced
WMB WILLIAMS COS INCEnergy0.5%$33.7m2.10m−51%reduced
SYTUSD SYNGENTA AG–0.5%$30.2m364,731–new
ESPREUR ESPERION THERAPEUTICS INC NE–0.4%$24.1m1.42m−1.0%reduced
LDOS LEIDOS HOLDINGS INCTechnology0.4%$23.6m468,150–new
MEDIA GEN INC NEW no ticker–0.3%$21.1m1.29m+276%added
ODPEUR OFFICE DEPOT INC–0.3%$18.6m2.62m−44%reduced
YOUKU TUDOU INC no ticker–0.3%$15.8m575,000−66%reduced
ENERGY TRANSFER PRTNRS L P no ticker–0.2%$13.4m415,000–new
H HYATT HOTELS CORPConsumer Cyclical0.2%$11.2m226,683−60%reduced
CAESARS ACQUISITION CO no ticker–0.1%$7.4m1.21m+174%added
CLECO CORP NEW no ticker–0.1%$7.2m131,080–new
BUD ANHEUSER BUSCH INBEV SA NVConsumer Defensive0.1%$6.9m55,000+83%added
AGFSEUR AGROFRESH SOLUTIONS INC–0.10%$6.1m960,000−35%reduced
CHESAPEAKE ENERGY CORP no ticker–0.07%$4.5m7.00m–new
KMI KINDER MORGAN INC DELEnergy0.07%$4.5m250,000−19%reduced
VIDEOCON D2H LTD no ticker–0.06%$3.9m523,417−41%reduced
SUN SUNOCO LPEnergy0.06%$3.5m105,000–new
TESLA MTRS INC no ticker–0.05%$3.4m3.96m−21%reduced
CZREUR CAESARS ENTMT CORP–0.05%$3.1m460,000−70%reduced
MPLX MPLX LPEnergy0.04%$2.2m75,000−44%reduced
SUNOCO LOGISTICS PRTNRS L P no ticker–0.03%$2.1m85,000–new
VIRGIN AMER INC no ticker–0.02%$1.2m30,000–new
BAC BANK OF AMER CORPFinancial Services0.02%$1.1m82,5000.0%held
AGROFRESH SOLUTIONS no ticker–0.01%$881k881,4000.0%held
CHESAPEAKE ENERGY CORP no ticker–0.01%$833k2.00m–new
WILLIAMS PARTNERS L P NEW no ticker–0.01%$614k30,000−54%reduced
CHKEUR CHESAPEAKE ENERGY CORP–0.0%$206k50,000–new
ET ENERGY TRANSFER LPEnergy0.0%$143k20,000−93%reduced
HERTZ GLOBAL HOLDINGS INC no ticker–0.0%$126k12,0000.0%held
KINDER MORGAN INC DEL no ticker–0.0%$55.0k1.52m0.0%held

Exited since Q4 2015

29 rows
AVGO BROADCOM CORP15.9%$1.2bn
PRECISION CASTPARTS CORP no ticker10.1%$761m
AVOLON HLDGS LTD no ticker1.4%$103m
JAHEUR JARDEN CORP1.2%$88.0m
DYAX CORP no ticker1.0%$74.9m
PREJF PARTNERRE LTD0.6%$48.9m
PMC-SIERRA INC no ticker0.6%$46.5m
TESLA MTRS INC no ticker0.4%$31.4m
SOLERA HOLDINGS INC no ticker0.4%$28.8m
HAL HALLIBURTON CO0.3%$21.1m
CHARTER COMMUNICATIONS INC D no ticker0.3%$19.8m
BIOMED REALTY TRUST INC no ticker0.2%$17.8m
AAL AMERICAN AIRLINES GROUP INC0.2%$12.8m
PFE PFIZER INC0.1%$11.3m
WDC WESTERN DIGITAL CORP.0.1%$8.6m
SPY SPDR S&P 500 ETF Trust0.1%$8.2m
HERBALIFE LTD no ticker0.1%$8.0m
GP INVTS ACQUISITION no ticker0.1%$7.7m
CB CHUBB CORP0.09%$6.6m
MXIM MAXIM INTEGRATED PRODS INC0.09%$6.5m
ATLANTIC ALLIANCE PARTNER CO no ticker0.05%$4.0m
HLF HERBALIFE LTD0.04%$3.2m
HEARTWARE INTL INC no ticker0.03%$2.5m
TECO ENERGY INC no ticker0.01%$890k
CONSTANT CONTACT INC no ticker0.01%$585k
COLUCID PHARMACEUTICALS INC no ticker0.0%$220k
OUT OUTFRONT MEDIA INC0.0%$218k
DLTH DULUTH HLDGS INC0.0%$168k
PLUM CREEK TIMBER CO INC no ticker0.0%$48.0k

Sector mix

  • Unclassified74.7%
  • Technology11.6%
  • Healthcare4.1%
  • Financial Services3.8%
  • Industrials3.1%
  • Energy2.4%
  • Consumer Cyclical0.2%
  • Consumer Defensive0.1%

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