Pennant Capital Reduces Shares in Wells Fargo and Citigroup in Quarterly Filing

Wall St. Watchdog reveals information regarding Pennant Capital Management’s top holdings in the Financial sector for the quarter ending September 30th, 2011. The firm held 7 stocks in the Financial sector at the end of the quarter with an aggregate market value of $395.629 million.

  • Wells Fargo & Company (NYSE:WFC): On 06/30/2011, Pennant Capital Management reported holding 3,830,000 shares with a market value of $107,469,798. This comprised 2.32% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 3,890,000 shares with a market value of $93,826,803. This comprised 2.33% of the total portfolio. The net change in shares for this position over the two quarters is 60,000. About Company: Wells Fargo & Company is a diversified financial services company providing banking, insurance, investments, mortgage, leasing, credit cards, and consumer finance. The Company operates through physical stores, the Internet and other distribution channels across North America and elsewhere internationally.
  • Willis Group Holdings Public Limited Company (NYSE:WSH): On 06/30/2011, Pennant Capital Management reported holding 2,620,130 shares with a market value of $107,713,546. This comprised 2.32% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 2,720,130 shares with a market value of $93,490,865. This comprised 2.32% of the total portfolio. The net change in shares for this position over the two quarters is 100,000. About Company: Willis Group Holdings PLC is an insurance broker. The Company offers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world.
  • Phh Corp (NYSE:PHH): On 06/30/2011, Pennant Capital Management reported holding 5,510,629 shares with a market value of $113,078,110. This comprised 2.44% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 5,510,629 shares with a market value of $88,610,914. This comprised 2.2% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: PHH Corporation is an outsource provider of mortgage and vehicle fleet management services. The Company provides private label mortgage services to real estate brokers, financial institutions, credit unions, corporations, and government agencies, and integrated leasing and management solutions to operators of corporate, government, and service-related vehicle fleets.
  • Citigroup Inc. (NYSE:C): On 06/30/2011, Pennant Capital Management reported holding 2,486,000 shares with a market value of $103,517,038. This comprised 2.23% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 2,681,000 shares with a market value of $68,687,222. This comprised 1.7% of the total portfolio. The net change in shares for this position over the two quarters is 195,000. About Company: Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services.
  • Old Republic International Corp. (NYSE:ORI): On 06/30/2011, Pennant Capital Management reported holding 5,010,776 shares with a market value of $58,876,618. This comprised 1.27% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 5,010,776 shares with a market value of $44,696,122. This comprised 1.11% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite, and provide risk management services. The Company provides services for a variety of coverages in the property and liability, mortgage guaranty, title, and life and health insurance fields.
  • Symetra Financial Corporation (NYSE:SYA): On 06/30/2011, Pennant Capital Management reported holding 772,135 shares with a market value of $10,369,773. This comprised 0.22% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 772,135 shares with a market value of $6,292,900. This comprised 0.16% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: Symetra Financial Corporation offers group health, retirement, life insurance, and employee benefits.
  • Phh Corp (NYSE:PHH): On 06/30/2011, Pennant Capital Management reported holding 23,900,000 shares with a market value of $26,390. This comprised 0% of the total portfolio. On 09/30/2011, Pennant Capital Management reported holding 23,900,000 shares with a market value of $23,754. This comprised 0% of the total portfolio. The net change in shares for this position over the two quarters is 0. About Company: PHH Corporation is an outsource provider of mortgage and vehicle fleet management services. The Company provides private label mortgage services to real estate brokers, financial institutions, credit unions, corporations, and government agencies, and integrated leasing and management solutions to operators of corporate, government, and service-related vehicle fleets.

(Note: Data regarding Pennant Capital Management’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

Advantage: Check out our interactive stock charts, fundamentals, Twitter stream, and more >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter>>