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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
+15.2%
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
$17.9B
AUM Growth
+$2.46B
Cap. Flow
+$1.22B
Cap. Flow %
6.8%
Top 10 Hldgs %
58.11%
Holding
151
New
55
Increased
25
Reduced
20
Closed
41

Top Buys

Rank Stock Value
1
CYBR
CyberArk
CYBR
+$1.57B
2
EA
Electronic Arts
EA
+$794M
3
NSC icon
Norfolk Southern
NSC
+$764M
4
VRNA
Verona Pharma
VRNA
+$553M
5
KVUE icon
Kenvue
KVUE
+$413M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$1.01B
2
JNPR
Juniper Networks
JNPR
+$569M
3
BPMC
Blueprint Medicines
BPMC
+$500M
4
SKX
Skechers
SKX
+$442M
5
ANSS
Ansys
ANSS
+$286M

Sector Composition

Rank Sector Weight
1 Technology 16.68%
2 Industrials 13.89%
3 Communication Services 11.39%
4 Healthcare 7.63%
5 Consumer Staples 6.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WNS
26
DELISTED
WNS Holdings
WNS
$160M 0.89%
+2,095,000
New +$157M
SNPS icon
27
PUT
Synopsys
SNPS
$79.7B
$148M 0.83%
+300,000
New +$170M
AMC icon
28
AMC Entertainment Holdings
AMC
$2.31B
$141M 0.79%
+48,626,044
New +$144M
AL
29
DELISTED
Air Lease Corp
AL
$140M 0.78%
+2,200,000
New +$131M
TECK icon
30
Teck Resources
TECK
$32.6B
$127M 0.71%
2,900,000
+2,860,000
+7,150% +$104M
CCL icon
31
Carnival Corporation Ltd
CCL
$39.7B
$124M 0.7%
4,300,000
+150,000
+4% +$4.53M
BHF icon
32
Brighthouse Financial
BHF
$3.5B
$121M 0.68%
2,285,000
+1,335,000
+141% +$65.2M
BHF icon
33
PUT
Brighthouse Financial
BHF
$3.5B
$111M 0.62%
2,085,000
+355,000
+21% +$17.3M
HCA icon
34
HCA Healthcare
HCA
$89.5B
$108M 0.6%
253,400
+93,400
+58% +$36.2M
GEO icon
35
The GEO Group
GEO
$4.04B
$106M 0.59%
5,186,000
+1,956,000
+61% +$44.7M
CCL icon
36
PUT
Carnival Corporation Ltd
CCL
$39.7B
$106M 0.59%
3,650,000
+700,000
+24% +$21.1M
PANW icon
37
PUT
Palo Alto Networks
PANW
$297B
$102M 0.57%
+500,000
New +$95.7M
UNP icon
38
PUT
Union Pacific
UNP
$174B
$92.2M 0.52%
+390,000
New +$87.9M
MRUS
39
DELISTED
Merus
MRUS
$91.3M 0.51%
+970,000
New +$63.2M
CVX icon
40
PUT
Chevron
CVX
$366B
$77.6M 0.43%
500,000
-1,805,000
-78% -$280M
UNH icon
41
UnitedHealth
UNH
$370B
$69.1M 0.39%
200,000
-775,000
-79% -$234M
TXNM
42
TXNM Energy Inc
TXNM
$5.94B
$67.3M 0.38%
1,190,000
+64,000
+6% +$3.63M
PSKY
43
PUT
Paramount Skydance Corp
PSKY
$10.3B
$60.5M 0.34%
+3,200,000
New +$50.6M
LLYVA icon
44
Liberty Live Group Series A
LLYVA
$9.09B
$56.1M 0.31%
594,700
-165,300
-22% -$14.5M
NUE icon
45
Nucor
NUE
$62.1B
$54.2M 0.3%
400,000
-45,000
-10% -$6.37M
NUE icon
46
PUT
Nucor
NUE
$62.1B
$54.2M 0.3%
400,000
-100,000
-20% -$14.2M
HCA icon
47
PUT
HCA Healthcare
HCA
$89.5B
$51.1M 0.29%
120,000
+5,000
+4% +$1.94M
ECHO
48
EchoStar
ECHO
$26.2B
$48.9M 0.27%
+640,000
New +$29M
TGNA
49
DELISTED
TEGNA Inc
TGNA
$47.3M 0.26%
+2,326,300
New +$44.3M
VMEO
50
DELISTED
Vimeo
VMEO
$46.6M 0.26%
+6,009,500
New +$29.6M
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 Q3 2025 Portfolio in Review

As of Q3 2025, Pentwater Capital Management held 151 positions worth $17.9B, up 16% from $15.4B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Pentwater Capital Management deployed $1.22B of net new capital in Q3 2025, opening 55 new positions and adding to 25 existing holdings. Its largest new stake was CyberArk: 3,665,000 shares worth $1.77B.

By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 6.8% a quarter earlier, followed by Industrials and Communication Services.

On the sell side, the largest reduction was UnitedHealth, an estimated $234M trimmed.

  • Pentwater Capital Management's largest Q3 2025 buy was CyberArk: 3,665,000 shares worth $1.77B.
  • Pentwater Capital Management added most to Kenvue in Q3 2025, an estimated $413M increase.
  • Pentwater Capital Management's biggest Q3 2025 reduction was UnitedHealth, cutting an estimated $234M.
  • Pentwater Capital Management fully exited Hess in Q3 2025, selling an estimated $1.01B.
  • Pentwater Capital Management's ten largest holdings make up 58% of its $17.9B portfolio in Q3 2025.
  • Pentwater Capital Management opened 55 new positions and closed 41 in Q3 2025.
  • Pentwater Capital Management's portfolio value rose 16% quarter-over-quarter to $17.9B.

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