Funds › Pentwater Capital Management LP › Q1 2019Pentwater Capital Management LP 13F holdings, Q1 2019 Pentwater Capital Management LP disclosed 105 US equity positions worth $3.8bn in its Q1 2019 13F filing. Its largest position is CELG at 24.5% of the reported book, followed by RHT1EUR and TRQEUR. Versus Q4 2018 it opened 35 new positions, added to 20, reduced 32 and exited 28.
$3.8bn Reported equity book Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
105 Positions Distinct securities in the equity book with a reported value above zero. Options are excluded.
24.5% Largest position The largest single position as a share of the reported equity book.
74.5% Top 10 weight The ten largest positions together, as a share of the reported equity book.
11 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 2018: 35 new , 20 added , 32 reduced , 28 exited
50 of 105 Show all 105
Stock Sector Weight Value Shares Δ shares Action CELG CELGENE CORP – 24.5% $923m 9.79m – new RHT1EUR RED HAT INC – 8.6% $322m 1.76m +29% added TRQEUR TURQUOISE HILL RES LTD – 8.3% $312m 187.86m +23% added WCGEUR WELLCARE HEALTH PLANS INC – 7.7% $290m 1.07m – new NXPI NXP SEMICONDUCTORS N V Technology 5.7% $214m 2.42m −77% reduced DIS DISNEY WALT CO Communication Services 5.2% $196m 1.76m – new MELLANOX TECHNOLOGIES LTD no ticker – 4.9% $186m 1.57m +26067% added ARRIS INTL INC no ticker – 3.5% $132m 4.19m −12% reduced INTEGRATED DEVICE TECHNOLOGY no ticker – 3.4% $129m 2.63m −21% reduced PCG PG&E CORP Utilities 2.7% $102m 5.74m – new ESPREUR ESPERION THERAPEUTICS INC NE – 2.6% $99.4m 2.48m −0.4% held U S G CORP no ticker – 2.3% $86.3m 1.99m −6.0% reduced VICI VICI PPTYS INC Real Estate 2.0% $76.6m 3.50m −36% reduced SYF SYNCHRONY FINANCIAL Financial Services 1.8% $68.9m 2.16m +5.4% added LLY ELI LILLY & CO Healthcare 1.7% $64.9m 500,000 – new TRCO TRIBUNE MEDIA CO – 1.6% $60.0m 1.30m −11% reduced FDC FIRST DATA CORP NEW – 0.9% $34.2m 1.30m +665% added ULTIMATE SOFTWARE GROUP INC no ticker – 0.9% $33.0m 100,000 – new VSMEUR VERSUM MATLS INC – 0.9% $32.7m 650,000 – new ET ENERGY TRANSFER LP Energy 0.8% $31.5m 2.05m 0.0% held SPY SPDR S&P 500 ETF Trust – 0.8% $28.5m 101,000 −98% reduced ZAYOEUR ZAYO GROUP HLDGS INC – 0.7% $25.6m 900,000 – new WP WORLDPAY INC – 0.7% $25.0m 220,000 – new AIMCUSD ALTRA INDL MOTION CORP – 0.5% $18.8m 605,000 −41% reduced WBC1EUR WABCO HLDGS INC – 0.4% $15.2m 115,000 – new CI THE CIGNA GROUP Healthcare 0.4% $15.1m 93,734 −68% reduced SBOWEUR SILVERBOW RES INC – 0.4% $14.7m 638,052 0.0% held ARCPEUR VEREIT INC – 0.3% $13.0m 1.55m +1.3% added BA BOEING CO Industrials 0.3% $13.0m 34,000 – new BEMIS INC no ticker – 0.3% $11.7m 210,000 −18% reduced BJ BJS WHSL CLUB HLDGS INC Consumer Defensive 0.3% $10.0m 365,791 +216% added CAESARS ENTMT CORP no ticker – 0.3% $10.0m 7.00m 0.0% held ETRNUSD EQUITRANS MIDSTREAM CORP – 0.3% $9.6m 440,000 +36% added AIZ ASSURANT INC Financial Services 0.3% $9.5m 100,000 – new NIELSEN HLDGS PLC no ticker – 0.3% $9.5m 400,000 – new COTY COTY INC Consumer Defensive 0.2% $8.6m 750,000 – new AAL AMERICAN AIRLINES GROUP INC Industrials 0.2% $8.5m 267,439 +1237% added DBX DROPBOX INC Technology 0.2% $8.0m 365,000 +24% added WMB WILLIAMS COS INC Energy 0.2% $5.7m 200,000 0.0% held FHB FIRST HAWAIIAN INC Financial Services 0.1% $5.5m 210,000 +35% added DAY DAYFORCE INC – 0.1% $5.3m 104,197 +154% added LYFT LYFT INC Technology 0.1% $4.9m 62,000 – new GDI1EUR GARDNER DENVER HLDGS INC – 0.1% $4.3m 155,900 −31% reduced AXA EQUITABLE HLDGS INC no ticker – 0.1% $4.0m 200,000 −9.1% reduced ZUOUSD ZUORA INC – 0.1% $4.0m 200,090 +38% added IQV IQVIA HLDGS INC Healthcare 0.1% $3.9m 27,000 – new LEXEA LIBERTY EXPEDIA HLDGS INC – 0.10% $3.7m 85,791 +14% added BUNGE LIMITED no ticker – 0.09% $3.6m 67,200 −21% reduced SVMKUSD SVMK INC – 0.09% $3.2m 177,744 +16% added ALLERGAN PLC no ticker – 0.09% $3.2m 22,000 0.0% held
Exited since Q4 2018 Sector mix Unclassified 76.4% Technology 6.3% Communication Services 5.3% Utilities 2.7% Healthcare 2.4% Financial Services 2.3% Real Estate 2.1% Energy 1.0% Industrials 0.7% Consumer Defensive 0.6% Consumer Cyclical 0.2% Book over time Every quarter on file (75) Where Pentwater Capital Management LP was early 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