Pentwater Capital Management’s Hess HES Stock Holding History

Pentwater Capital Management’s Portfolio HES Stock Details HES Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-7,320,000	Closed	-$1.01B	–	123
2025 Q2	$1.01B	Buy	7,320,000 +1,500,000	+26%	+$203M	6.58%	2
2025 Q1	$930M	Buy	5,820,000 +510,000	+10%	+$75M	7.8%	2
2024 Q4	$706M	Buy	5,310,000 +860,000	+19%	+$120M	7.8%	2
2024 Q3	$604M	Buy	4,450,000 +70,000	+2%	+$9.74M	6.23%	3
2024 Q2	$646M	Sell	4,380,000 -160,000	-4%	-$24.5M	8.28%	3
2024 Q1	$693M	Buy	4,540,000 +655,000	+17%	+$95.1M	7.1%	4
2023 Q4	$560M	Buy	+3,885,000	New	+$570M	6.28%	4

Other funds holding HES

DekaBank Deutsche Girozentrale Frankfurt, Germany $60.6B AUM 23.27% 1-Year Est. Return

Osaic Holdings Scottsdale, Arizona $68.3B AUM 20.5% 1-Year Est. Return

BIG

Brooklyn Investment Group Brooklyn, New York $3.2B AUM 26.32% 1-Year Est. Return

IFP Advisors Tampa, Florida $5.54B AUM 27.43% 1-Year Est. Return

VanEck Associates New York $133B AUM 72.99% 1-Year Est. Return

HNB

Huntington National Bank Columbus, Ohio $18.1B AUM 24.69% 1-Year Est. Return

SignatureFD Atlanta, Georgia $7.49B AUM 24.82% 1-Year Est. Return

Pentwater Capital Management's HES Position: Q3 2025 in Review

Pentwater Capital Management sold out of Hess (HES) in Q3 2025, closing a stake of 7,320,000 shares — an estimated $1.01B sold.

Pentwater Capital Management first reported a position in HES in Q4 2023 and held it in 7 quarters. The position peaked at $1.01B in Q2 2025. 7 funds tracked by Wall St. Rank hold HES as of Q3 2025.

Pentwater Capital Management reported no remaining Hess position as of Q3 2025 after selling out during the quarter.
Pentwater Capital Management sold 7,320,000 Hess shares in Q3 2025, an estimated $1.01B.
Pentwater Capital Management first reported a position in Hess in Q4 2023 and held it in 7 quarters.
Pentwater Capital Management's Hess position peaked at $1.01B in Q2 2025.
7 funds tracked by Wall St. Rank held Hess as of Q3 2025.

Based on Pentwater Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.