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PCM
Pentwater Capital Management Portfolio holdings
AUM
$19.3B
1-Year Est. Return
58.13%
This Fund
S&P 500
This Quarter
Est. Return
+14.92%
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
$15.4B
AUM Growth
+$3.5B
(+29%)
Cap. Flow
+$2.17B
Cap. Flow
% of AUM
14.1%
Top 10 Holdings %
Top 10 Hldgs %
61.13%
Holding
135
New
34
Increased
38
Reduced
18
Closed
39
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BPMC
Blueprint Medicines
BPMC
|
+$405M |
| 2 |
SKX
Skechers
SKX
|
+$402M |
| 3 |
UnitedHealth
UNH
|
+$373M |
| 4 |
HES
Hess
HES
|
+$203M |
| 5 |
INFA
Informatica
INFA
|
+$141M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
X
US Steel
X
|
+$814M |
| 2 |
ITCI
Intra-Cellular Therapies Inc.
ITCI
|
+$685M |
| 3 |
Boeing
BA
|
+$231M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$212M |
| 5 |
HEES
H&E Equipment Services
HEES
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 9.53% |
| 2 | Industrials | 9.28% |
| 3 | Technology | 6.84% |
| 4 | Energy | 6.69% |
| 5 | Communication Services | 4.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
CALL
UnitedHealth
UNH
$370B
| $142M | 0.92% |
+455,000
| New | +$174M |
|
27
Carnival Corporation Ltd
CCL
$39.2B
| $117M | 0.76% |
4,150,000
+400,000
| +11% | +$8.56M |
|
28
CALL
Avis
CAR
$4.93B
| $115M | 0.75% |
680,000
+610,000
| +871% | +$65.7M |
|
29
GeneDx Holdings
WGS
$2.24B
| $113M | 0.73% |
1,220,000
+1,188,000
| +3,713% | +$93.3M |
|
|
AZEK
30
DELISTED
The AZEK Co
AZEK
| $112M | 0.73% |
2,066,000
+524,158
| +34% | +$26.3M |
|
|
ANSS
31
PUT
DELISTED
Ansys
ANSS
| $105M | 0.68% |
300,000
| – | – |
|
|
32
PUT
GeneDx Holdings
WGS
$2.24B
| $95.1M | 0.62% |
1,030,000
+1,005,000
| +4,020% | +$78.9M |
|
|
JNPR
33
PUT
DELISTED
Juniper Networks
JNPR
| $93.8M | 0.61% |
2,350,100
+292,100
| +14% | +$10.5M |
|
34
PUT
Brighthouse Financial
BHF
$3.47B
| $93M | 0.6% |
+1,730,000
| New | +$97.2M |
|
|
35
PUT
Carnival Corporation Ltd
CCL
$39.2B
| $83M | 0.54% |
2,950,000
| – | – |
|
36
CALL
Synopsys
SNPS
$78.8B
| $82M | 0.53% |
+160,000
| New | +$74.5M |
|
|
FL
37
DELISTED
Foot Locker
FL
| $80.8M | 0.52% |
+3,300,000
| New | +$59.9M |
|
38
Steel Dynamics
STLD
$37.3B
| $78.1M | 0.51% |
610,000
-300,000
| -33% | -$38.3M |
|
39
The GEO Group
GEO
$4.12B
| $77.4M | 0.5% |
3,230,000
+2,025,000
| +168% | +$55.3M |
|
|
VERV
40
DELISTED
Verve Therapeutics
VERV
| $75.5M | 0.49% |
+6,720,000
| New | +$38.3M |
|
|
DNB
41
DELISTED
Dun & Bradstreet
DNB
| $74.1M | 0.48% |
8,150,000
+6,373,254
| +359% | +$57.1M |
|
|
COOP
42
DELISTED
Mr. Cooper
COOP
| $69.1M | 0.45% |
+463,000
| New | +$59.4M |
|
43
PUT
Nucor
NUE
$61.7B
| $64.8M | 0.42% |
500,000
-5,000
| -1% | -$584K |
|
|
TXNM
44
TXNM Energy Inc
TXNM
$5.94B
| $63.4M | 0.41% |
+1,126,000
| New | +$61.3M |
|
|
IPG
45
DELISTED
Interpublic Group of Companies
IPG
| $62.6M | 0.41% |
2,557,000
+217,000
| +9% | +$5.28M |
|
46
HCA Healthcare
HCA
$89.1B
| $61.3M | 0.4% |
160,000
+67,500
| +73% | +$24.3M |
|
47
Liberty Live Group Series A
LLYVA
$9.23B
| $60.4M | 0.39% |
760,000
+145,000
| +24% | +$10.5M |
|
|
48
Nucor
NUE
$61.7B
| $57.6M | 0.37% |
445,000
-980,000
| -69% | -$115M |
|
|
49
Brighthouse Financial
BHF
$3.47B
| $51.1M | 0.33% |
+950,000
| New | +$53.4M |
|
|
SWTX
50
DELISTED
SpringWorks Therapeutics
SWTX
| $47M | 0.3% |
1,000,000
+500,000
| +100% | +$22.2M |
|
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Pentwater Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, Pentwater Capital Management held 135 positions worth $15.4B, up 29% from $11.9B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Pentwater Capital Management deployed $2.17B of net new capital in Q2 2025, opening 34 new positions and adding to 38 existing holdings. Its largest new stake was Blueprint Medicines: 3,900,000 shares worth $500M.
By sector, the portfolio is most concentrated in Healthcare at 9.5% of assets, up from 8.1% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was Boeing, an estimated $231M trimmed.
- Pentwater Capital Management's largest Q2 2025 buy was Blueprint Medicines: 3,900,000 shares worth $500M.
- Pentwater Capital Management added most to Hess in Q2 2025, an estimated $203M increase.
- Pentwater Capital Management's biggest Q2 2025 reduction was Boeing, cutting an estimated $231M.
- Pentwater Capital Management fully exited US Steel in Q2 2025, selling an estimated $814M.
- Pentwater Capital Management's ten largest holdings make up 61% of its $15.4B portfolio in Q2 2025.
- Pentwater Capital Management opened 34 new positions and closed 39 in Q2 2025.
- Pentwater Capital Management's portfolio value rose 29% quarter-over-quarter to $15.4B.
Based on Pentwater Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.