13F-HR 1 d880449_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended March 31, 2008 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Pennant Capital Management, LLC Address: 26 Main Street Chatham, New Jersey 07928 13F File Number: 028-10370 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Alan Fournier Title: Managing Member Phone: (973) 701-1100 Signature, Place and Date of Signing: /s/ Alan Fournier Chatham, New Jersey May 15, 2008 ----------------------- -------------------------- ---------------------- [Signature] [City, State] [Date] Report Type: (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting managers(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: NONE Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 5 Form 13F Information Table Entry Total: 52 Form 13F Information Table Value Total: $2,199,275 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1. 028-10536 Pennant Offshore Partners, Ltd. 2. 028-10768 Pennant Onshore Qualified, LP 3. 028-10746 Pennant General Partner, LLC 4. 028-11666 Pennant Windward Fund, L.P. 5. 028-11665 Pennant Windward Fund, Ltd.

FORM 13F INFORMATION TABLE March 31, 2008 COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN7 COULMN 8 TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER CLASS CUSIP (x $1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ALLEGHANY CORP DEL COM 017175100 4,914 14,389 SH Defined 1,2,3,4,5 14,389 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 39,909 2,279,200 SH Defined 1,2,3,4,5 2,279,200 AMERICAN EXPRESS CO COM 025816109 41,201 942,390 SH Defined 1,2,3,4,5 942,390 APPLIED MATLS IN COM 038222105 53,894 2,762,400 SH Defined 1,2,3,4,5 2,762,400 BROADCOM CORP CL A 111320107 5,203 270,000 SH Defined 1,2,3,4,5 270,000 CF INDS HLDGS INC COM 125269100 64,838 625,730 SH Defined 1,2,3,4,5 625,730 CVR ENERGY INC COM 12662P108 18,654 810,000 SH Defined 1,2,3 810,000 CHIPMOS TECH BERMUDA LTD SHS G2110R106 7,436 2,316,546 SH Defined 1,2,3 2,316,546 CISCO SYS INC COM 17275R102 60,165 2,497,500 SH Defined 1,2,3,4,5 2,497,500 DAVITA INC COM 23918K108 63,882 1,337,571 SH Defined 1,2,3,4,5 1,337,571 DYAX CORP COM 26746E103 19,584 4,158,000 SH Defined 1,2,3 4,158,000 E M C CORP MASS COM 268648102 40,152 2,800,000 SH Defined 1,2,3,4,5 2,800,000 ECHOSTAR CORP CL A 278768106 34,562 1,170,000 SH Defined 1,2,3,4,5 1,170,000 FIDELITY NATIONAL FINANCIAL CL A 31620R105 75,697 4,129,688 SH Defined 1,2,3,4,5 4,129,688 FIDELITY NATL INFORMATION SV COM 31620M106 50,955 1,336,000 SH Defined 1,2,3,4,5 1,336,000 FOREST LABS INC COM 345838106 57,646 1,440,800 SH Defined 1,2,3,4,5 1,440,800 FOSTER WHEELER LTD SHS NEW G36535139 2,491 44,000 SH Defined 1,2,3,4,5 44,000 GENERAL ELECTRIC CO COM 369604103 4,441 120,000 SH Defined 1,2,3,4,5 120,000 GENESCO INC COM 371532102 49,687 2,150,000 SH Defined 1,2,3,4,5 2,150,000 GENENTECH INC COM NEW 368710406 4,059 50,000 SH Defined 1,2,3,4,5 50,000 GREENFIELD ONLINE INC COM 395150105 8,740 736,900 SH Defined 3 736,900 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 1,841 99,000 SH Defined 3 99,000 GRIFFON CORP COM 398433102 11,268 1,310,280 SH Defined 1,2,3 1,310,280 GRUBB & ELLIS CO COM PAR $0.01 400095204 927 135,000 SH Defined 3 135,000 IRON MTN INC COM 462846106 47,365 1,791,430 SH Defined 1,2,3,4,5 1,791,430 LEVITT CORP CL A 52742P108 36,220 18,292,945 SH Defined 1,2,3,4,5 18,292,945 LIGAND PHARMACEUTICALS INC CL B 53220K207 10,742 2,685,410 SH Defined 1,2,3,4,5 2,685,410 LIMITED BRANDS INC COM 532716107 63,819 3,732,100 SH Defined 1,2,3,4,5 3,732,100 MACYS INC COM 55616P104 2,087 90,500 SH Defined 1,2,3,4,5 90,500 MICROSOFT CORP COM 594918104 55,443 1,953,600 SH Defined 1,2,3,4,5 1,953,600 MIDDLEBROOK PHARMACEUTICAL I COM 596087106 3,088 770,000 SH Defined 3 770,000 MOODYS CORP COM 615369105 54,509 1,565,000 SH Defined 1,2,3,4,5 1,565,000 NRG ENERGY INC COM NEW 629377508 44,063 1,130,100 SH Defined 1,2,3,4,5 1,130,100 ORACLE CORP COM 68389X105 66,819 3,416,090 SH Defined 1,2,3,4,5 3,416,090 PHH CORP COM NEW 693320202 94,051 5,395,941 SH Defined 1,2,3,4,5 5,395,941 PZENA INVESTMENT MGMT INC CLASS A 74731Q103 8,993 794,400 SH Defined 1,2,3 794,400 QUEST DIAGNOSTICS INC COM 74834L100 5,659 125,000 SH Defined 1,2,3,4,5 125,000 RADVISION LTD ORD M81869105 528 80,000 SH Defined 1,2,3 80,000 RUDOLPH TECHNOLOGIES INC COM 781270103 3,376 345,550 SH Defined 1,2,3 345,550 SAIC INC COM 78390X101 48,879 2,629,338 SH Defined 1,2,3,4,5 2,629,338 SANFILIPPO JOHN B & SON INC COM 800422107 5,149 577,900 SH Defined 1,2,3 577,900 SAVIENT PHARMACEUTICALS INC COM 80517Q100 53,000 2,650,000 SH Defined 1,2,3,4,5 2,650,000 SCHERING PLOUGH CORP COM 806605101 2,162 150,000 SH Defined 1,2,3,4,5 150,000 TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 20,516 803,900 SH Defined 1,2,3,4,5 803,900 FINISH LINE INC CL A 317923100 9,520 2,000,000 SH Defined 1,2,3 2,000,000 TRANSDIGM GROUP INC COM 893641100 66,608 1,797,800 SH Defined 1,2,3,4,5 1,797,800 UNION PAC CORP COM 907818108 43,940 350,452 SH Defined 1,2,3,4,5 350,452 UNITEDHEALTH GROUP INC COM 91324P102 3,436 100,000 SH Defined 1,2,3,4,5 100,000 WALTER INDS INC COM 93317Q105 124,540 1,988,500 SH Defined 1,2,3,4,5 1,988,500 WELLPOINT INC COM 94973V107 17,652 400,000 SH Defined 1,2,3,4,5 400,000 ISHARES TR RUSSELL 2000 464287655 375,595 5,500,000 PUT Defined 1,2,3,4,5 5,500,000 SPDR SERIES TRUST S&P METALS MNG 78464A755 209,370 3,000,000 PUT Defined 1,2,3,4,5 3,000,000

SK 03461 0009 880449