13F-HR 1 d717157_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 September 30, 2006 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: 40 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 November 14, 2006 ----------------------- -------------------------- ---------------------- [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: 49 Form 13F Information Table Value Total: 971,507 (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, L.P. 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 September 30, 2006

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COL 7 COLUMN 8 TITLE VALUE SHRS OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRTN MNGRS SOLE SHARED NONE -------------- -------- ----- -------- ------- --- ---- -------- -------- ---- ------ ---- AMR Corp COM 001765106 3,471 150,000 SH Defined 1,2,3,4,5 150,000 Alleghany Corp Del COM 017175100 3,396 11,749 SH Defined 1,2,3,4,5 11,749 Applied Matls Inc COM 038222105 10,638 600,000 SH Defined 1,2,3,4,5 600,000 Arch Cap Group Ltd ORD G0450A105 17,307 272,600 SH Defined 1,2,3,4,5 272,600 Axcan Pharma Inc COM 054923107 64,703 4,736,700 SH Defined 1,2,3,4,5 4,736,700 CF Inds Hldgs Inc COM 125269100 48,657 2,850,430 SH Defined 1,2,3,4,5 2,850,430 Chipmos Tech Bermuda Ltd SHS G2110R106 23,956 4,012,700 SH Defined 1,2,3 4,012,700 Cisco Sys Inc COM 17275R102 36,768 1,600,000 SH Defined 1,2,3,4,5 1,600,000 Comcast Corp New CL A 20030N101 26,975 731,030 SH Defined 1,2,3,4,5 731,030 Continental Airls Inc CL B 210795308 2,831 100,000 SH Defined 1,2,3,4,5 100,000 Copart Inc COM 217204106 14,095 500,000 SH Defined 1,2,3,4,5 500,000 Dyax Corp COM 26746E103 3,263 980,000 SH Defined 3 980,000 Fidelity Natl Finl Inc COM 316326107 55,228 1,326,000 SH Defined 1,2,3,4,5 1,326,000 Fidelity Natl Title Group In CL A 31620R105 3,660 174,598 SH Defined 1,2,3,4,5 174,598 Foster Wheeler Ltd SHS NEW G36535139 1,737 45,000 SH Defined 1,2,3,4,5 45,000 Griffon Corp COM 398433102 15,430 646,400 SH Defined 1,2,3 646,400 Grubb & Ellis Co COM PAR $0.01 400095204 1,305 135,000 SH Defined 3 135,000 Kadant Inc COM 48282T104 1,105 45,000 SH Defined 1,2,3 45,000 Levitt Corp CL A 52742P108 13,591 1,155,700 SH Defined 1,2,3 1,155,700 Linear Technology Corp COM 535678106 1,867 60,000 SH Defined 1,2,3,4,5 60,000 Micron Technology Inc COM 595112103 24,360 1,400,000 SH Defined 1,2,3,4,5 1,400,000 Microsoft Corp COM 594918104 40,686 1,487,600 SH Defined 1,2,3,4,5 1,487,600 NRG Energy Inc COM NEW 629377508 21,468 473,900 SH Defined 1,2,3,4,5 473,900 Novelis Inc COM 67000X106 29,050 1,135,200 SH Defined 1,2,3,4,5 1,135,200 Oracle Corp COM 68389X105 35,480 2,000,000 SH Defined 1,2,3,4,5 2,000,000 PHH Corp COM NEW 693320202 31,450 1,147,800 SH Defined 1,2,3,4,5 1,147,800 Pfizer Inc COM 717081103 15,384 542,440 SH Defined 2,3,4 542,440 RADVision Ltd ORD M81869105 6,664 403,900 SH Defined 1,2,3 403,900 Rinker Group Ltd SPONSORED ADR 76687M101 14,805 287,700 SH Defined 1,2,3,4,5 287,700 Rudolph Technologies Inc COM 781270103 6,489 354,002 SH Defined 1,2,3 354,002 Sanfilippo John B & Son Inc COM 800422107 3,723 365,000 SH Defined 1,2,3 365,000 Spansion Inc COM CL A 84649R101 6,019 361,080 SH Defined 1,2,3,4,5 361,080 Symantec Corp COM 871503108 49,123 2,308,430 SH Defined 1,2,3,4,5 2,308,430 Take-Two Interactive Softwar COM 874054109 13,527 948,600 SH Defined 1,2,3,4,5 948,600 Williams Cos Inc Del COM 969457100 38,550 1,615,000 SH Defined 1,2,3,4,5 1,615,000 TransDigm Group Inc COM 893641100 24,664 1,010,000 SH Defined 1,2,3,4,5 1,010,000 UAL Corp COM NEW 902549807 2,657 100,000 SH Defined 1,2,3,4,5 100,000 U S Airways Group Inc COM 90341W108 4,211 95,000 SH Defined 1,2,3,4,5 95,000 United States Stl Corp New COM 912909108 6,922 120,000 SH Defined 1,2,3,4,5 120,000 Universal Stainless & Alloy COM 913837100 11,853 526,800 SH Defined 1,2,3 526,800 Walter Inds Inc COM 93317Q105 36,001 843,500 SH Defined 1,2,3,4,5 843,500 Washington Group Intl Inc COM NEW 938862208 7,361 125,054 SH Defined 1,2,3,4,5 125,054 Hummingbird Inc COM 44544R101 6,653 240,200 SH Defined 1,2,3 240,200 AMR Corp COM 001765106 4,628 200,000 CALL Defined 1,2,3,4,5 200,000 Continential Airls Inc CL B 210795308 5,662 200,000 CALL Defined 1,2,3,4,5 200,000 Micron Technology Inc COM 5951122103 17,400 1,000,000 CALL Defined 1,2,3,4,5 1,000,000 UAL Corp COM NEW 902549807 13,285 500,000 CALL Defined 1,2,3,4,5 500,000 U S Airways Group Inc COM 90341W108 6,650 150,000 CALL Defined 1,2,3,4,5 150,000 ISHARES TR RUSSELL 2000 464287655 136,800 1,900,000 PUT Defined 1,2,3,4,5 1,900,000

SK 03461 0004 717157