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Pentwater Capital Management Portfolio holdings

AUM $19.3B
1-Year Est. Return 58.13%
This Fund
S&P 500
This Quarter Est. Return
+19.18%
1 Year Est. Return
+58.13%
3 Year Est. Return
+179.76%
5 Year Est. Return
+629.27%
10 Year Est. Return
+5,046.05%
AUM
$8.92B
AUM Growth
-$9.68B
Cap. Flow
-$10.4B
Cap. Flow %
-116.85%
Top 10 Hldgs %
63.36%
Holding
160
New
45
Increased
25
Reduced
29
Closed
51

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$1.37B
2
HES
Hess
HES
+$570M
3
X
US Steel
X
+$364M
4
SPLK
Splunk Inc
SPLK
+$228M
5
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$202M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$2.84B
2
SGEN
Seagen Inc. Common Stock
SGEN
+$2.73B
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$1.8B
4
VMW
VMware, Inc
VMW
+$653M
5
NATI
National Instruments Corp
NATI
+$267M

Sector Composition

Rank Sector Weight
1 Energy 21.05%
2 Healthcare 9.51%
3 Technology 8.79%
4 Materials 7.38%
5 Consumer Discretionary 3.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MANU icon
26
Manchester United
MANU
$3.73B
$87.6M 0.98%
4,300,000
+4,290,000
+42,900% +$81.3M
TECK icon
27
Teck Resources
TECK
$32.6B
$83.7M 0.94%
1,980,000
-150,000
-7% -$5.76M
SPY icon
28
State Street SPDR S&P 500 ETF Trust
SPY
$823B
$82.9M 0.93%
174,420
-245,960
-59% -$110M
AMED
29
DELISTED
Amedisys
AMED
$74.1M 0.83%
780,000
-364,000
-32% -$34M
OLK
30
DELISTED
Olink Holding AB (publ) American Depositary Shares
OLK
$65.8M 0.74%
+2,617,769
New +$61.6M
ANSS
31
PUT
DELISTED
Ansys
ANSS
$65.8M 0.74%
+181,200
New +$53.7M
AMED
32
PUT
DELISTED
Amedisys
AMED
$61.9M 0.69%
+651,000
New +$60.8M
MRTX
33
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$53M 0.59%
+902,632
New +$50.7M
MANU icon
34
PUT
Manchester United
MANU
$3.73B
$51.5M 0.58%
+2,527,300
New +$47.9M
TGH
35
DELISTED
Textainer Group Holdings limited
TGH
$49.2M 0.55%
+1,000,000
New +$46M
ANSS
36
DELISTED
Ansys
ANSS
$47.9M 0.54%
+132,000
New +$39.1M
ICVX
37
DELISTED
Icosavax, Inc. Common Stock
ICVX
$47.3M 0.53%
+3,000,000
New +$28.9M
CERE
38
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
$46.6M 0.52%
+1,100,000
New +$31.6M
FCX icon
39
Freeport-McMoran
FCX
$97.5B
$43.1M 0.48%
1,013,000
-217,000
-18% -$8.01M
HTZ icon
40
PUT
Hertz
HTZ
$809M
$40.1M 0.45%
3,859,900
-301,600
-7% -$2.91M
BABA icon
41
Alibaba
BABA
$308B
$38.8M 0.43%
500,000
-20,000
-4% -$1.59M
LSXMA
42
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$36.2M 0.41%
1,260,000
+1,222,500
+3,260% +$32M
XOM icon
43
PUT
ExxonMobil
XOM
$634B
$35M 0.39%
+350,000
New +$36.8M
QQQ icon
44
PUT
Invesco QQQ Trust
QQQ
$484B
$30.7M 0.34%
75,000
-44,400
-37% -$16.9M
SIRI icon
45
PUT
SiriusXM
SIRI
$10.1B
$29.7M 0.33%
543,180
+493,180
+986% +$23.7M
IMGN
46
PUT
DELISTED
Immunogen Inc
IMGN
$29.6M 0.33%
+1,000,000
New +$19.9M
BABA icon
47
PUT
Alibaba
BABA
$308B
$29.6M 0.33%
382,500
-9,700
-2% -$773K
FCX icon
48
PUT
Freeport-McMoran
FCX
$97.5B
$26.4M 0.3%
620,000
-82,500
-12% -$3.05M
IE icon
49
Ivanhoe Electric
IE
$1.74B
$24.8M 0.28%
2,462,461
+710,795
+41% +$7.52M
NATL icon
50
NCR Atleos
NATL
$3.44B
$21.6M 0.24%
+889,000
New +$20.4M
1
2
3 4 5

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LF
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Select Equity Group
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MIM
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SPIA
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BPA
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Pentwater Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Pentwater Capital Management held 160 positions worth $8.92B, down 52% from $18.6B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Pentwater Capital Management withdrew a net $10.4B in Q4 2023, closing 51 positions and reducing 29 holdings. Its most notable exit was Activision Blizzard, an estimated $2.84B position sold in full.

By sector, the portfolio is most concentrated in Energy at 21% of assets, up from 0.63% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Pentwater Capital Management opened a new position in Pioneer Natural Resource Co. worth $1.31B.

  • Pentwater Capital Management's largest Q4 2023 buy was Pioneer Natural Resource Co.: 5,840,000 shares worth $1.31B.
  • Pentwater Capital Management added most to US Steel in Q4 2023, an estimated $364M increase.
  • Pentwater Capital Management's biggest Q4 2023 reduction was Boeing, cutting an estimated $115M.
  • Pentwater Capital Management fully exited Activision Blizzard in Q4 2023, selling an estimated $2.84B.
  • Pentwater Capital Management's ten largest holdings make up 63% of its $8.92B portfolio in Q4 2023.
  • Pentwater Capital Management opened 45 new positions and closed 51 in Q4 2023.
  • Pentwater Capital Management's portfolio value fell 52% quarter-over-quarter to $8.92B.

Based on Pentwater Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.