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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 | |
|---|---|---|---|---|---|---|
51
PUT
HCA Healthcare
HCA
$89.5B
| $44.1M | 0.29% |
115,000
+25,000
| +28% | +$9.01M |
|
|
GMS
52
DELISTED
GMS Inc
GMS
| $43.5M | 0.28% |
+400,000
| New | +$30.9M |
|
|
TGI
53
DELISTED
Triumph Group
TGI
| $38.6M | 0.25% |
1,500,000
-800,135
| -35% | -$20.4M |
|
54
PUT
Invesco QQQ Trust
QQQ
$484B
| $35.9M | 0.23% |
+65,000
| New | +$32.3M |
|
55
Core Scientific
CORZ
$6.75B
| $31.8M | 0.21% |
+1,865,000
| New | +$18.7M |
|
56
PUT
The GEO Group
GEO
$4.04B
| $29.9M | 0.19% |
1,250,000
+600,000
| +92% | +$16.4M |
|
|
WBA
57
DELISTED
Walgreens Boots Alliance
WBA
| $29.8M | 0.19% |
2,600,000
+1,296,807
| +100% | +$14.4M |
|
58
Ivanhoe Electric
IE
$1.74B
| $23.5M | 0.15% |
2,595,000
+39,159
| +2% | +$272K |
|
|
59
PUT
Core Scientific
CORZ
$6.75B
| $21.3M | 0.14% |
+1,250,200
| New | +$12.5M |
|
60
Kenvue
KVUE
$36.9B
| $18M | 0.12% |
860,000
+560,000
| +187% | +$12.7M |
|
61
Liberty Broadband Class A
LBRDA
$5.16B
| $16.6M | 0.11% |
170,000
+47,900
| +39% | +$4.25M |
|
62
CALL
Chevron
CVX
$366B
| $14.3M | 0.09% |
+100,000
| New | +$14.1M |
|
|
STR
63
DELISTED
Sitio Royalties
STR
| $14.2M | 0.09% |
+773,000
| New | +$13.9M |
|
64
Cytokinetics
CYTK
$10.4B
| $9.91M | 0.06% |
300,000
+80,000
| +36% | +$2.78M |
|
65
PUT
iShares MSCI Germany ETF
EWG
$1.62B
| $7.4M | 0.05% |
175,000
+100,000
| +133% | +$3.99M |
|
|
BRKL
66
DELISTED
Brookline Bancorp
BRKL
| $6.91M | 0.04% |
655,000
+34,648
| +6% | +$360K |
|
67
PUT
Steel Dynamics
STLD
$37.6B
| $6.4M | 0.04% |
+50,000
| New | +$6.38M |
|
|
68
PUT
Kenvue
KVUE
$36.9B
| $6.28M | 0.04% |
300,000
| – | – |
|
69
SiriusXM
SIRI
$10.1B
| $5.17M | 0.03% |
225,000
-225,000
| -50% | -$4.84M |
|
70
Atlanta Braves Holdings Series B
BATRK
$3.21B
| $4.21M | 0.03% |
90,000
-85,000
| -49% | -$3.48M |
|
|
TIC
71
TIC Solutions Inc
TIC
$2.2B
| $3M | 0.02% |
271,749
+188,000
| +224% | +$1.94M |
|
72
Crown Holdings
CCK
$13.1B
| $2.88M | 0.02% |
27,979
-502,021
| -95% | -$47.8M |
|
|
DEC
73
Diversified Energy Company
DEC
$980M
| $2.2M | 0.01% |
150,000
-90,000
| -38% | -$1.2M |
|
74
PUT
iShares MSCI United Kingdom ETF
EWU
$4.16B
| $1.99M | 0.01% |
50,000
-300,000
| -86% | -$11.5M |
|
75
CALL
GeneDx Holdings
WGS
$2.3B
| $1.85M | 0.01% |
+20,000
| New | +$1.57M |
|
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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.