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Pentwater Capital Management Portfolio holdings
AUM
$16.4B
Turnover
62.12%
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
(-15%)
Cap. Flow
-$2.91B
Cap. Flow % of AUM
Cap. Flow %
-17.81%
Top 10 Holdings %
Top 10 Hldgs %
66.54%
Holding
132
New
40
Increased
15
Reduced
26
Closed
42
Avg Time Held
Equity + Options
0.7
years
Top 10 Avg Time Held
Equity + Options
2
years
Top 20 Avg Time Held
Equity + Options
1.2
years
Avg Time Held Equity only
0.6
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Roku
ROKU
|
+$528M |
| 2 |
Caesars Entertainment
CZR
|
+$248M |
| 3 |
Dominion Energy
D
|
+$228M |
| 4 |
Organon & Co
OGN
|
+$216M |
| 5 |
TXNM Energy Inc
TXNM
|
+$216M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Avis
CAR
|
+$998M |
| 2 |
Core Scientific
CORZ
|
+$572M |
| 3 |
Masimo
MASI
|
+$565M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$392M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
Electronic Arts
EA
| $2.76B | 16.9% |
13,475,000
+667,500
| +5% | +$135M |
2025 Q3
3 quarters
|
|
2
Boeing
BA
$150B
| $1.34B | 8.21% |
6,200,000
-869,500
| -12% | -$193M |
2021 Q2
20 quarters
|
|
3
DELISTED
Warner Bros
WBD
| $1.27B | 7.76% |
47,576,000
-2,669,000
| -5% | -$72.2M |
2025 Q3
3 quarters
|
|
|
4
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
| $1.06B | 6.5% |
1,422,500
-1,585,000
| -53% | -$1.15B |
2013 Q2
52 quarters
|
|
5
Kenvue
KVUE
$36.3B
| $977M | 5.98% |
51,130,000
-870,000
| -2% | -$15.3M |
2025 Q1
5 quarters
|
|
6
Norfolk Southern
NSC
$73.4B
| $873M | 5.34% |
2,775,000
-445,000
| -14% | -$137M |
2025 Q3
3 quarters
|
|
|
7
PUT
Boeing
BA
$150B
| $828M | 5.06% |
3,825,000
-1,220,000
| -24% | -$271M |
2021 Q3
19 quarters
|
|
8
CALL
UnitedHealth
UNH
$360B
| $777M | 4.75% |
1,870,000
-970,000
| -34% | -$360M |
2025 Q2
4 quarters
|
|
|
9
Roku
ROKU
$23B
| $597M | 3.65% |
+4,325,000
| New | +$528M |
2026 Q2
0 quarters
|
|
10
EchoStar
ECHO
$24.8B
| $392M | 2.4% |
3,860,000
+1,500,000
| +64% | +$183M |
2025 Q3
3 quarters
|
|
|
11
Avis
CAR
$3.63B
| $372M | 2.27% |
2,513,300
-4,535,000
| -64% | -$998M |
2024 Q1
9 quarters
|
|
|
12
TXNM Energy Inc
TXNM
$6.44B
| $368M | 2.25% |
6,487,500
+3,687,500
| +132% | +$216M |
2025 Q2
4 quarters
|
|
13
Teck Resources
TECK
$31.7B
| $354M | 2.17% |
5,960,000
-1,000,000
| -14% | -$61M |
2023 Q2
12 quarters
|
|
|
14
Caesars Entertainment
CZR
$5.87B
| $346M | 2.12% |
11,465,000
+8,815,000
| +333% | +$248M |
2026 Q1
1 quarter
|
|
15
The GEO Group
GEO
$3.77B
| $313M | 1.91% |
10,582,000
+1,017,000
| +11% | +$23.1M |
2025 Q1
5 quarters
|
|
|
16
Organon & Co
OGN
$3.61B
| $245M | 1.5% |
+18,100,000
| New | +$216M |
2026 Q2
0 quarters
|
|
|
17
Dominion Energy
D
$55.9B
| $239M | 1.46% |
+3,500,000
| New | +$228M |
2026 Q2
0 quarters
|
|
18
DELISTED
DigitalBridge
DBRG
| $199M | 1.22% |
12,600,000
+850,000
| +7% | +$13.3M |
2025 Q4
2 quarters
|
|
19
Surgery Partners
SGRY
$1.91B
| $195M | 1.19% |
11,630,000
-1,025,000
| -8% | -$14.4M |
2024 Q4
6 quarters
|
|
20
DELISTED
Apogee Therapeutics
APGE
| $189M | 1.16% |
+1,425,000
| New | +$128M |
2026 Q2
0 quarters
|
|
21
Carnival Corporation Ltd
CCL
$34.8B
| $163M | 1% |
5,705,000
-355,000
| -6% | -$9.7M |
2024 Q2
8 quarters
|
|
22
Silicon Laboratories
SLAB
$7.37B
| $162M | 0.99% |
741,725
+241,725
| +48% | +$52.3M |
2026 Q1
1 quarter
|
|
23
DELISTED
Nuvalent
NUVL
| $145M | 0.89% |
+1,175,000
| New | +$126M |
2026 Q2
0 quarters
|
|
24
Tenet Healthcare
THC
$21.5B
| $143M | 0.88% |
765,000
+640,000
| +512% | +$118M |
2026 Q1
1 quarter
|
|
|
25
PUT
UnitedHealth
UNH
$360B
| $138M | 0.84% |
331,700
-313,300
| -49% | -$116M |
2026 Q1
1 quarter
|
|
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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.