Pennant Capital Management, LLC’s latest 13F filing with the Securities and Exchange Commission indicates that the firm’s portfolio was worth $5.1 billion as of the end of March. The firm bought four new stocks during the first quarter and increased its stake in 12 other companies. It also exited four stocks and reduced its holdings in 20 companies.
As of the end of March, the firm’s top 10 holdings made up 49 percent of its portfolio’s value. The firm’s top five holdings were listed as TransDigm Group Incorporated (NYSE:TDG), DaVita HealthCare Partners Inc (NYSE:DVA), Terex Corporation (NYSE:TEX), NVR, Inc. (NYSE:NVR) and MRC Global Inc (NYSE:MRC).
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Pennant Capital’s New Purchases
During the first quarter, the firm bought 6.8 million shares of Ascena Retail Group Inc (NASDAQ:ASNA) and 2.35 million shares of Cheniere Energy, Inc. (NYSEMKT:LNG). It also purchased 1.2 million shares of Bright Horizons Family Solutions Inc (NYSE:BFAM) and 185,000 shares of Occidental Petroleum Corporation (NYSE:OXY).
Pennant Capital’s Major Position Increases
The firm increased its position in Owens Corning (NYSE:OC) by 79 percent and American International Group Inc (NYSE:AIG) by 17 percent. Other notable increases were Dollar General Corp. (NYSE:DG), VIVUS, Inc. (NASDAQ:VVUS) and Quest Diagnostics Inc (NYSE:DGX).
Pennant Capital’s Sell-Offs
The four companies exited by the firm include WellPoint, Inc. (NYSE:WLP), of which it sold 3.2 million shares during the first quarter. The other three sell-offs for the firm during the first three months of the year were Family Dollar Stores, Inc. (NYSE:FDO), Ford Motor Company (NYSE:F) and Apple Inc. (NASDAQ:AAPL).
Pennant Capital’s Major Position Reductions
The firm reduced its position in Terex Corporation (NYSE:TEX) by 14 percent, although the stock remained in its top five holdings list. It also sold some of its stakes in Citigroup Inc (NYSE:C), Pfizer Inc. (NYSE:PFE) and Valero Energy Corporation (NYSE:VLO).
Becoming A Registered CPO
Pennant Capital registered itself as a CPO in March, making it eligible to invest above threshold levels in commodities. In the first quarter, the firm reported gains from shorts in Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V).