WhaleCreep

Pentwater Capital Management LP 13F holdings, Q4 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-12-31, filed 2019-04-26

Pentwater Capital Management LP disclosed 98 US equity positions worth $5.1bn in its Q4 2018 13F filing. Its largest position is SPY at 27.0% of the reported book, followed by NXPI and TWENTY FIRST CENTY FOX INC. Versus Q3 2018 it opened 34 new positions, added to 32, reduced 16 and exited 43.

$5.1bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
98
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
27.0%
Largest position
The largest single position as a share of the reported equity book.
81.0%
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 Q3 2018: 34 new, 32 added, 16 reduced, 43 exited

50 of 98
SPY SPDR S&P 500 ETF Trust–27.0%$1.4bn5.51m+110160%added
NXPI NXP SEMICONDUCTORS N VTechnology15.1%$772m10.53m−24%reduced
TWENTY FIRST CENTY FOX INC no ticker–10.0%$512m10.65m+55%added
TWENTY FIRST CENTY FOX INC no ticker–7.0%$359m7.52m−36%reduced
TRQEUR TURQUOISE HILL RES LTD–4.9%$252m152.43m+19%added
RHT1EUR RED HAT INC–4.7%$241m1.37m–new
1885807D ATHENAHEALTH INC–3.9%$201m1.52m+1222%added
INTEGRATED DEVICE TECHNOLOGY no ticker–3.1%$161m3.32m+8.9%added
ARRIS INTL INC no ticker–2.9%$146m4.76m–new
ESPREUR ESPERION THERAPEUTICS INC NE–2.2%$114m2.49m+5.8%added
VICI VICI PPTYS INCReal Estate2.0%$103m5.50m+25%added
U S G CORP no ticker–1.8%$90.4m2.12m+657%added
DELL DELL TECHNOLOGIES INCTechnology1.6%$83.9m1.72m+364%added
T8S TESARO INC–1.3%$68.3m920,000–new
TRCO TRIBUNE MEDIA CO–1.3%$66.6m1.47m+1122%added
CI THE CIGNA GROUPHealthcare1.1%$55.3m291,141–new
SYF SYNCHRONY FINANCIALFinancial Services0.9%$48.1m2.05m−2.2%reduced
QQQ INVESCO QQQ TR–0.9%$47.8m310,000–new
UTXZ UNITED TECHNOLOGIES CORP–0.8%$42.1m395,600–new
DUN & BRADSTREET CORP DEL NE no ticker–0.7%$36.4m255,000+155%added
ET ENERGY TRANSFER LPEnergy0.5%$27.1m2.05m+612%added
ELAN ELANCO ANIMAL HEALTH INCHealthcare0.5%$26.3m835,000+1988%added
AIMCUSD ALTRA INDL MOTION CORP–0.5%$25.8m1.02m+8371%added
CZREUR CAESARS ENTMT CORP–0.4%$19.3m2.85m–new
SHIRE PLC no ticker–0.3%$16.1m92,791−91%reduced
SBOWEUR SILVERBOW RES INC–0.3%$15.1m638,0520.0%held
SCANA CORP NEW no ticker–0.3%$13.1m275,000–new
ORBOTECH LTD no ticker–0.2%$11.9m210,000−16%reduced
BEMIS INC no ticker–0.2%$11.7m255,000+6.3%added
ARCPEUR VEREIT INC–0.2%$11.0m1.53m−6.1%reduced
NXSTAGE MEDICAL INC no ticker–0.2%$10.2m355,000−29%reduced
CAESARS ENTMT CORP no ticker–0.2%$8.7m7.00m–new
ZTS ZOETIS INCHealthcare0.2%$8.6m100,000–new
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical0.1%$7.5m55,000+57%added
ETRNUSD EQUITRANS MIDSTREAM CORP–0.1%$6.5m322,720–new
DBX DROPBOX INCTechnology0.1%$6.0m295,000+63%added
IMPERVA INC no ticker–0.1%$5.6m100,000–new
GDI1EUR GARDNER DENVER HLDGS INC–0.09%$4.6m225,000+61%added
BUNGE LIMITED no ticker–0.09%$4.5m85,000–new
WMB WILLIAMS COS INCEnergy0.09%$4.4m200,0000.0%held
ELECTRO SCIENTIFIC INDS no ticker–0.07%$3.8m125,265–new
AXA EQUITABLE HLDGS INC no ticker–0.07%$3.7m220,000+65%added
FHB FIRST HAWAIIAN INCFinancial Services0.07%$3.5m155,000+24%added
AMZN AMAZON COM INCConsumer Cyclical0.07%$3.5m2,300–new
COSAN LTD no ticker–0.06%$3.1m349,400–new
ALLERGAN PLC no ticker–0.06%$2.9m22,000−21%reduced
LEXEA LIBERTY EXPEDIA HLDGS INC–0.06%$2.9m75,000–new
FDC FIRST DATA CORP NEW–0.06%$2.9m170,000+1600%added
SAILEUR SAILPOINT TECHNOLOGIES HLDGS–0.06%$2.8m120,000+9.1%added
AELUSD AMERICAN EQTY INVT LIFE HLD–0.05%$2.7m95,000–new

Exited since Q3 2018

43 rows
AETNA INC NEW no ticker21.2%$1.4bn
EXPRESS SCRIPTS HLDG CO no ticker16.2%$1.1bn
ROCKWELL COLLINS INC no ticker9.3%$619m
FTV FORTIVE CORP1.9%$125m
AVA AVISTA CORP1.0%$69.2m
CA INC no ticker0.4%$29.1m
LASALLE HOTEL PPTYS no ticker0.4%$27.7m
ENERGY TRANSFER PARTNERS LP no ticker0.4%$26.0m
EQT EQT CORPORATION0.4%$25.2m
OCEAN RIG UDW INC no ticker0.3%$20.0m
ASPEN INSURANCE HOLDINGS LTD no ticker0.1%$8.4m
ENERGEN CORP no ticker0.1%$7.8m
NEXEO SOLUTIONS INC no ticker0.1%$7.3m
WEB COM GROUP INC no ticker0.08%$5.6m
CXPUSD COLUMBIA PPTY TR INC0.06%$3.8m
KMI KINDER MORGAN INC DEL0.05%$3.6m
CNP CENTERPOINT ENERGY INC0.03%$2.1m
CONE1EUR CYRUSONE INC0.03%$2.1m
GSKYGBP GREENSKY INC0.03%$2.0m
COLD AMERICOLD REALTY TRUST INC0.03%$1.8m
AGNC AGNC INVT CORP0.02%$1.6m
PSDOEUR PRESIDIO INC0.02%$1.5m
FRCB FIRST REP BK SAN FRANCISCO C0.01%$960k
SIRI SIRIUS XM HOLDINGS INC0.01%$910k
CWK CUSHMAN WAKEFIELD PLC0.01%$850k
PAGS PAGSEGURO DIGITAL LTD0.01%$830k
CARBUSD CARBONITE INC0.01%$713k
AZUL S A no ticker0.01%$712k
EASTERLY GOVT PPTYS INC no ticker0.01%$678k
IIIV I3 VERTICALS INC0.01%$575k
EVH EVOLENT HEALTH INC0.01%$568k
ARCO PLATFORM LTD no ticker0.01%$456k
AUTL AUTOLUS THERAPEUTICS LTD0.01%$409k
GFF GRIFFON CORP0.01%$404k
AKRXEUR AKORN INC0.0%$325k
SPIRIT OF TEX BANCSHARES INC no ticker0.0%$324k
OPBK OP BANCORP0.0%$290k
2JQ GRITSTONE BIO INC0.0%$244k
LTRX LANTRONIX INC0.0%$204k
NCI BUILDING SYS INC no ticker0.0%$152k
ARLO ARLO TECHNOLOGIES INC0.0%$145k
GOVERNMENT PPTYS INCOME TR no ticker0.0%$113k
SPRINT CORPORATION no ticker0.0%$65.0k

Sector mix

  • Unclassified76.9%
  • Technology17.0%
  • Real Estate2.1%
  • Healthcare1.9%
  • Financial Services1.0%
  • Energy0.6%
  • Consumer Cyclical0.3%
  • Consumer Defensive0.08%
  • Communication Services0.07%
  • Industrials0.06%

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