WhaleCreep

Pentwater Capital Management LP 13F holdings, Q3 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-09-30, filed 2019-04-26

Pentwater Capital Management LP disclosed 107 US equity positions worth $6.6bn in its Q3 2018 13F filing. Its largest position is AETNA INC NEW at 21.2% of the reported book, followed by NXPI and EXPRESS SCRIPTS HLDG CO. Versus Q2 2018 it opened 50 new positions, added to 20, reduced 24 and exited 20.

$6.6bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
107
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
21.2%
Largest position
The largest single position as a share of the reported equity book.
88.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
8
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 2018: 50 new, 20 added, 24 reduced, 20 exited

50 of 107
AETNA INC NEW no ticker–21.2%$1.4bn6.94m+83%added
NXPI NXP SEMICONDUCTORS N VTechnology17.9%$1.2bn13.85m+8.2%added
EXPRESS SCRIPTS HLDG CO no ticker–16.2%$1.1bn11.28m+17%added
ROCKWELL COLLINS INC no ticker–9.3%$619m4.41m+15%added
TWENTY FIRST CENTY FOX INC no ticker–8.1%$536m11.70m+1.7%added
TWENTY FIRST CENTY FOX INC no ticker–4.8%$319m6.89m+98%added
TRQEUR TURQUOISE HILL RES LTD–4.1%$273m128.57m+24%added
SHIRE PLC no ticker–2.7%$181m996,000+10%added
INTEGRATED DEVICE TECHNOLOGY no ticker–2.2%$143m3.05m–new
FTV FORTIVE CORPTechnology1.9%$125m1.49m–new
ESPREUR ESPERION THERAPEUTICS INC NE–1.6%$104m2.35m−4.6%reduced
VICI VICI PPTYS INCReal Estate1.4%$95.1m4.40m−37%reduced
AVA AVISTA CORPUtilities1.0%$69.2m1.37m+37%added
SYF SYNCHRONY FINANCIALFinancial Services1.0%$65.2m2.10m+0.7%added
DELL DELL TECHNOLOGIES INCTechnology0.5%$35.9m370,000−86%reduced
CA INC no ticker–0.4%$29.1m660,000–new
LASALLE HOTEL PPTYS no ticker–0.4%$27.7m800,000−30%reduced
ENERGY TRANSFER PARTNERS LP no ticker–0.4%$26.0m1.17m+17%added
EQT EQT CORPORATIONEnergy0.4%$25.2m570,000−32%reduced
OCEAN RIG UDW INC no ticker–0.3%$20.0m577,500–new
VMWEUR VMWARE INC–0.3%$17.2m110,000−73%reduced
SBOWEUR SILVERBOW RES INC–0.3%$17.0m638,052−9.6%reduced
1885807D ATHENAHEALTH INC–0.2%$15.4m115,000–new
ORBOTECH LTD no ticker–0.2%$14.9m250,500+0.2%held
DUN & BRADSTREET CORP DEL NE no ticker–0.2%$14.3m100,000–new
NXSTAGE MEDICAL INC no ticker–0.2%$13.9m500,0000.0%held
U S G CORP no ticker–0.2%$12.1m280,0000.0%held
ARCPEUR VEREIT INC–0.2%$11.9m1.63m+597%added
BEMIS INC no ticker–0.2%$11.7m240,000–new
ASPEN INSURANCE HOLDINGS LTD no ticker–0.1%$8.4m200,000–new
ENERGEN CORP no ticker–0.1%$7.8m90,000–new
NEXEO SOLUTIONS INC no ticker–0.1%$7.3m600,000–new
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical0.09%$5.8m35,000–new
WEB COM GROUP INC no ticker–0.08%$5.6m200,000+100%added
WMB WILLIAMS COS INCEnergy0.08%$5.4m200,000−9.1%reduced
ALLERGAN PLC no ticker–0.08%$5.3m28,000−16%reduced
ET ENERGY TRANSFER LPEnergy0.08%$5.0m288,0000.0%held
DBX DROPBOX INCTechnology0.07%$4.9m181,184+99%added
TRCO TRIBUNE MEDIA CO–0.07%$4.6m120,000−97%reduced
GDI1EUR GARDNER DENVER HLDGS INC–0.06%$4.0m140,000+27%added
CXPUSD COLUMBIA PPTY TR INC–0.06%$3.8m160,000–new
SAILEUR SAILPOINT TECHNOLOGIES HLDGS–0.06%$3.7m110,000+61%added
KMI KINDER MORGAN INC DELEnergy0.05%$3.6m205,0000.0%held
FHB FIRST HAWAIIAN INCFinancial Services0.05%$3.4m125,000–new
HOME AT HOME GROUP INC–0.05%$3.2m100,000+100%added
AXA EQUITABLE HLDGS INC no ticker–0.04%$2.9m133,480−13%reduced
BJ BJS WHSL CLUB HLDGS INCConsumer Defensive0.04%$2.8m105,000+64%added
BV BRIGHTVIEW HLDGS INCIndustrials0.04%$2.5m155,000+3.3%added
EPRT ESSENTIAL PPTYS RLTY TR INCReal Estate0.03%$2.3m160,7260.0%held
VAC MARRIOTT VACATIONS WORLDWIDEConsumer Cyclical0.03%$2.2m20,000–new

Exited since Q2 2018

20 rows
AABAUSD ALTABA INC14.0%$969m
XL GROUP LTD no ticker1.7%$117m
ILG INC no ticker1.4%$96.4m
T AT&T INC0.5%$32.7m
ANDEAVOR no ticker0.09%$6.6m
PLURALSIGHT INC no ticker0.02%$1.6m
UPL1EUR ULTRA PETROLEUM CORP0.02%$1.6m
BL BLACKLINE INC0.02%$1.1m
EDUCATION RLTY TR INC no ticker0.01%$1.0m
GNK GENCO SHIPPING & TRADING LTD0.01%$1.0m
DCT INDUSTRIAL TRUST INC no ticker0.01%$884k
AYAEUR STARS GROUP INC0.01%$726k
7S3 U S XPRESS ENTERPRISES INC0.01%$681k
CYH COMMUNITY HEALTH SYS INC NEW0.01%$432k
CPE3EUR CALLON PETE CO DEL0.01%$430k
SIENUSD SIENTRA INC0.01%$390k
TRANSLATE BIO INC no ticker0.01%$380k
SOXX ISHARES TR0.01%$356k
APTINYX INC no ticker0.0%$242k
ASUR ASURE SOFTWARE INC0.0%$160k

Sector mix

  • Unclassified74.9%
  • Technology20.5%
  • Real Estate1.5%
  • Financial Services1.1%
  • Utilities1.1%
  • Energy0.6%
  • Consumer Cyclical0.1%
  • Healthcare0.07%
  • Consumer Defensive0.07%
  • Industrials0.06%
  • Communication Services0.03%

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