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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
+13.13%
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
$19B
AUM Growth
+$1.14B
(+6.4%)
Cap. Flow
+$942M
Cap. Flow
% of AUM
4.95%
Top 10 Holdings %
Top 10 Hldgs %
67.29%
Holding
135
New
26
Increased
22
Reduced
21
Closed
58
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
EA
Electronic Arts
EA
|
+$1.24B |
| 2 |
Boeing
BA
|
+$846M |
| 3 |
Kenvue
KVUE
|
+$583M |
| 4 |
EXAS
Exact Sciences
EXAS
|
+$582M |
| 5 |
Warner Bros
WBD
|
+$444M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
K
Kellanova
K
|
+$820M |
| 2 |
VRNA
Verona Pharma
VRNA
|
+$566M |
| 3 |
SPR
Spirit AeroSystems
SPR
|
+$363M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$264M |
| 5 |
COOP
Mr. Cooper
COOP
|
+$210M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 20.47% |
| 2 | Industrials | 15.77% |
| 3 | Technology | 13.82% |
| 4 | Healthcare | 11.09% |
| 5 | Consumer Staples | 5.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
PUT
Core Scientific
CORZ
$6.75B
| $20.4M | 0.11% |
1,400,000
+799,800
| +133% | +$13.9M |
|
|
SHCO
52
DELISTED
Soho House & Co
SHCO
| $13.2M | 0.07% |
1,476,000
| – | – |
|
|
CRWV
53
PUT
CoreWeave
CRWV
$49.5B
| $12.2M | 0.06% |
170,000
-2,105,000
| -93% | -$213M |
|
54
CALL
Netflix
NFLX
$309B
| $11.7M | 0.06% |
+125,000
| New | +$13.5M |
|
|
ECHO
55
PUT
EchoStar
ECHO
$26.2B
| $10.9M | 0.06% |
100,000
-275,000
| -73% | -$22.4M |
|
56
PUT
Charter Communications
CHTR
$18.2B
| $10.4M | 0.05% |
+50,000
| New | +$11.2M |
|
57
CALL
Avis
CAR
$5.02B
| $8.98M | 0.05% |
70,000
| – | – |
|
|
CRWV
58
CoreWeave
CRWV
$49.5B
| $8.59M | 0.05% |
+120,000
| New | +$12.2M |
|
59
Liberty Broadband Class A
LBRDA
$5.16B
| $8.21M | 0.04% |
170,000
| – | – |
|
|
TDAY
60
USA Today Co
TDAY
$1.06B
| $7.21M | 0.04% |
+1,400,000
| New | +$6.58M |
|
|
61
State Street SPDR S&P 500 ETF Trust
SPY
$810B
| $6.82M | 0.04% |
10,000
-390,000
| -98% | -$264M |
|
62
GeneDx Holdings
WGS
$2.3B
| $6.5M | 0.03% |
50,000
-375,000
| -88% | -$51.5M |
|
|
63
PUT
GeneDx Holdings
WGS
$2.3B
| $6.5M | 0.03% |
50,000
-290,000
| -85% | -$39.8M |
|
|
HOUS
64
DELISTED
Anywhere Real Estate
HOUS
| $4.96M | 0.03% |
350,000
+230,000
| +192% | +$2.82M |
|
65
Protagonist Therapeutics
PTGX
$9.44B
| $4.37M | 0.02% |
+50,000
| New | +$4.09M |
|
66
PUT
The GEO Group
GEO
$4.04B
| $4.03M | 0.02% |
250,000
-650,000
| -72% | -$10.8M |
|
67
Atlanta Braves Holdings Series B
BATRK
$3.21B
| $3.55M | 0.02% |
90,000
| – | – |
|
68
CALL
Oracle
ORCL
$423B
| $2.44M | 0.01% |
+12,500
| New | +$2.98M |
|
|
PRTC
69
DELISTED
PureTech Health
PRTC
| $1.16M | 0.01% |
70,000
-5,000
| -7% | -$85.8K |
|
70
PUT
Keurig Dr Pepper
KDP
$40.8B
| $700K | ﹤0.01% |
25,000
| – | – |
|
|
FRMI
71
Fermi Inc
FRMI
$3.94B
| $600K | ﹤0.01% |
+75,000
| New | +$1.46M |
|
|
BORR
72
Borr Drilling
BORR
$1.19B
| $302K | ﹤0.01% |
+75,000
| New | +$249K |
|
73
Sharplink Inc
SBET
$1.35B
| $179K | ﹤0.01% |
+20,000
| New | +$244K |
|
|
74
PUT
Sharplink Inc
SBET
$1.35B
| $179K | ﹤0.01% |
+20,000
| New | +$244K |
|
|
WYFI
75
CALL
WhiteFiber Inc
WYFI
$951M
| $158K | ﹤0.01% |
+10,000
| New | +$247K |
|
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Pentwater Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Pentwater Capital Management held 135 positions worth $19B, up 6.4% from $17.9B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Pentwater Capital Management deployed $942M of net new capital in Q4 2025, opening 26 new positions and adding to 22 existing holdings. Its largest new stake was Exact Sciences: 7,250,000 shares worth $736M.
By sector, the portfolio is most concentrated in Communication Services at 20% of assets, up from 11% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $264M trimmed.
- Pentwater Capital Management's largest Q4 2025 buy was Exact Sciences: 7,250,000 shares worth $736M.
- Pentwater Capital Management added most to Electronic Arts in Q4 2025, an estimated $1.24B increase.
- Pentwater Capital Management's biggest Q4 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $264M.
- Pentwater Capital Management fully exited Kellanova in Q4 2025, selling an estimated $820M.
- Pentwater Capital Management's ten largest holdings make up 67% of its $19B portfolio in Q4 2025.
- Pentwater Capital Management opened 26 new positions and closed 58 in Q4 2025.
- Pentwater Capital Management's portfolio value rose 6.4% quarter-over-quarter to $19B.
Based on Pentwater Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.