We are live on ! Find out more
PCM

Pentwater Capital Management Portfolio holdings

AUM $16.4B
1-Year Est. Return 55.44%
This Fund
S&P 500
This Quarter Est. Return
+12.97%
1 Year Est. Return
+55.44%
3 Year Est. Return
+212.86%
5 Year Est. Return
+622.31%
10 Year Est. Return
+4,977.78%
AUM
$16.4B
AUM Growth
-$2.93B
Cap. Flow
-$2.91B
Cap. Flow %
-17.81%
Top 10 Hldgs %
66.54%
Holding
132
New
40
Increased
15
Reduced
26
Closed
42

Top Buys

Rank Stock Value
1
ROKU icon
Roku
ROKU
+$528M
2
CZR icon
Caesars Entertainment
CZR
+$248M
3
D icon
Dominion Energy
D
+$228M
4
OGN icon
Organon & Co
OGN
+$216M
5
TXNM
TXNM Energy Inc
TXNM
+$216M

Top Sells

Rank Stock Value
1
CAR icon
Avis
CAR
+$998M
2
CORZ icon
Core Scientific
CORZ
+$572M
3
MASI
Masimo
MASI
+$565M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$392M
5
HOLX
Hologic
HOLX
+$340M

Sector Composition

Rank Sector Weight
1 Communication Services 32.67%
2 Miscellaneous 23.65%
3 Industrials 18.6%
4 Healthcare 6.4%
5 Consumer Staples 5.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EA
1
DELISTED
Electronic Arts
EA
$2.76B 16.9%
13,475,000
+667,500
+5% +$135M
BA icon
2
Boeing
BA
$166B
$1.34B 8.21%
6,200,000
-869,500
-12% -$193M
WBD icon
3
Warner Bros
WBD
$71.1B
$1.27B 7.76%
47,576,000
-2,669,000
-5% -$72.2M
SPY icon
4
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$818B
$1.06B 6.5%
1,422,500
-1,585,000
-53% -$1.15B
KVUE icon
5
Kenvue
KVUE
$36.4B
$977M 5.98%
51,130,000
-870,000
-2% -$15.3M
NSC icon
6
Norfolk Southern
NSC
$73.6B
$873M 5.34%
2,775,000
-445,000
-14% -$137M
BA icon
7
PUT
Boeing
BA
$166B
$828M 5.06%
3,825,000
-1,220,000
-24% -$271M
UNH icon
8
CALL
UnitedHealth
UNH
$360B
$777M 4.75%
1,870,000
-970,000
-34% -$360M
ROKU icon
9
Roku
ROKU
$23.5B
$597M 3.65%
+4,325,000
New +$528M
ECHO
10
EchoStar
ECHO
$26.1B
$392M 2.4%
3,860,000
+1,500,000
+64% +$183M
CAR icon
11
Avis
CAR
$4.89B
$372M 2.27%
2,513,300
-4,535,000
-64% -$998M
TXNM
12
TXNM Energy Inc
TXNM
$5.99B
$368M 2.25%
6,487,500
+3,687,500
+132% +$216M
TECK icon
13
Teck Resources
TECK
$33.8B
$354M 2.17%
5,960,000
-1,000,000
-14% -$61M
CZR icon
14
Caesars Entertainment
CZR
$6.05B
$346M 2.12%
11,465,000
+8,815,000
+333% +$248M
GEO icon
15
The GEO Group
GEO
$4.06B
$313M 1.91%
10,582,000
+1,017,000
+11% +$23.1M
OGN icon
16
Organon & Co
OGN
$3.62B
$245M 1.5%
+18,100,000
New +$216M
D icon
17
Dominion Energy
D
$58.7B
$239M 1.46%
+3,500,000
New +$228M
DBRG icon
18
DigitalBridge
DBRG
$2.99B
$199M 1.22%
12,600,000
+850,000
+7% +$13.3M
SGRY icon
19
Surgery Partners
SGRY
$1.86B
$195M 1.19%
11,630,000
-1,025,000
-8% -$14.4M
APGE icon
20
Apogee Therapeutics
APGE
$10.2B
$189M 1.16%
+1,425,000
New +$128M
CCL icon
21
Carnival Corporation Ltd
CCL
$32.2B
$163M 1%
5,705,000
-355,000
-6% -$9.7M
SLAB icon
22
Silicon Laboratories
SLAB
$7.36B
$162M 0.99%
741,725
+241,725
+48% +$52.3M
NUVL
23
DELISTED
Nuvalent
NUVL
$145M 0.89%
+1,175,000
New +$126M
THC icon
24
Tenet Healthcare
THC
$21.2B
$143M 0.88%
765,000
+640,000
+512% +$118M
UNH icon
25
PUT
UnitedHealth
UNH
$360B
$138M 0.84%
331,700
-313,300
-49% -$116M
1
2 3 4 5

Similar funds

LPC
Lone Pine Capital Greenwich, Connecticut $16.4B AUM 99.7% 1-Year Est. Return
MFG
Merit Financial Group Alpharetta, Georgia $16.4B AUM 25.17% 1-Year Est. Return
X
Xponance Philadelphia, Pennsylvania $16.3B AUM 44.61% 1-Year Est. Return
CAM
Congress Asset Management Boston, Massachusetts $16.3B AUM 42.69% 1-Year Est. Return
PAM
PineStone Asset Management Montreal, Quebec, Canada $16.2B AUM 25.74% 1-Year Est. Return
NMO
Newlands Management Operations Dallas, Texas $16.6B AUM 3.91% 1-Year Est. Return
BS
Banco Santander Madrid, Spain $16.1B AUM 35.02% 1-Year Est. Return
BBVA
Banco Bilbao Vizcaya Argentaria Madrid, Spain $16.1B AUM 40.83% 1-Year Est. Return

Pentwater Capital Management's Q2 2026 Portfolio in Review

As of Q2 2026, Pentwater Capital Management held 132 positions worth $16.4B, down 15% from $19.3B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Pentwater Capital Management withdrew a net $2.91B in Q2 2026, closing 42 positions and reducing 26 holdings. Its most notable exit was Masimo, an estimated $565M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 33% of assets, up from 25% a quarter earlier, followed by Miscellaneous and Industrials.

Against the trend, Pentwater Capital Management opened a new position in Roku worth $597M.

  • Pentwater Capital Management's largest Q2 2026 buy was Roku: 4,325,000 shares worth $597M.
  • Pentwater Capital Management added most to Caesars Entertainment in Q2 2026, an estimated $248M increase.
  • Pentwater Capital Management's biggest Q2 2026 reduction was Avis, cutting an estimated $998M.
  • Pentwater Capital Management fully exited Masimo in Q2 2026, selling an estimated $565M.
  • Pentwater Capital Management's ten largest holdings make up 67% of its $16.4B portfolio in Q2 2026.
  • Pentwater Capital Management opened 40 new positions and closed 42 in Q2 2026.
  • Pentwater Capital Management's portfolio value fell 15% quarter-over-quarter to $16.4B.

Based on Pentwater Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.