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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
Cap. Flow
+$942M
Cap. Flow %
4.95%
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
BA icon
Boeing
BA
+$846M
3
KVUE icon
Kenvue
KVUE
+$583M
4
EXAS
Exact Sciences
EXAS
+$582M
5
WBD icon
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
SPY icon
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
LLYVA icon
101
Liberty Live Group Series A
LLYVA
$9.09B
– –
-594,700
Closed -$56.1M
LYV icon
102
PUT
Live Nation Entertainment
LYV
$42.1B
– –
-100,000
Closed -$16.3M
MGRM
103
DELISTED
Monogram Orthopaedics
MGRM
– –
-10,000
Closed -$58.7K
MRUS
104
DELISTED
Merus
MRUS
– –
-970,000
Closed -$91.3M
NAK
105
Northern Dynasty Minerals
NAK
$958M
– –
-200,000
Closed -$240K
NUE icon
106
Nucor
NUE
$62.1B
– –
-400,000
Closed -$54.2M
NUE icon
107
PUT
Nucor
NUE
$62.1B
– –
-400,000
Closed -$54.2M
PGRE
108
DELISTED
Paramount Group
PGRE
– –
-2,001,400
Closed -$13.1M
PINC
109
DELISTED
Premier
PINC
– –
-598,300
Closed -$16.6M
PRO
110
DELISTED
PROS Holdings
PRO
– –
-250,000
Closed -$5.73M
PTEN icon
111
CALL
Patterson-UTI
PTEN
$3.76B
– –
-25,000
Closed -$130K
RKT icon
112
CALL
Rocket Companies
RKT
$38.9B
– –
-2,200,000
Closed -$42.6M
RKT icon
113
Rocket Companies
RKT
$38.9B
– –
-8,000
Closed -$155K
RNAM
114
CALL
DELISTED
Avidity Biosciences
RNAM
– –
-20,000
Closed -$871K
SIRI icon
115
SiriusXM
SIRI
$10.1B
– –
-125,000
Closed -$2.91M
SNPS icon
116
Synopsys
SNPS
$79.7B
– –
-103
Closed -$45.8K
SPR
117
DELISTED
Spirit AeroSystems
SPR
– –
-9,400,000
Closed -$363M
STLD icon
118
PUT
Steel Dynamics
STLD
$37.6B
– –
-100,000
Closed -$13.9M
TALO icon
119
CALL
Talos Energy
TALO
$2.4B
– –
-20,000
Closed -$192K
TELA icon
120
TELA Bio
TELA
$38.9M
– –
-724,856
Closed -$1.08M
THC icon
121
Tenet Healthcare
THC
$21.1B
– –
-110,000
Closed -$22.3M
UNH icon
122
PUT
UnitedHealth
UNH
$370B
– –
-100,000
Closed -$34.5M
UNP icon
123
PUT
Union Pacific
UNP
$174B
– –
-390,000
Closed -$92.2M
VBTX
124
DELISTED
Veritex Holdings
VBTX
– –
-1,170,000
Closed -$39.2M
VMEO
125
DELISTED
Vimeo
VMEO
– –
-6,009,500
Closed -$46.6M
2 3 4
5
6

Similar funds

CS
Candriam SCA Strassen, Luxembourg, Luxembourg $19.3B AUM 39.18% 1-Year Est. Return
A
AustralianSuper Melbourne, Australia $19.2B AUM 31.95% 1-Year Est. Return
LF
Lansforsakringar Fondforvaltning Stockholm, Sweden $19.1B AUM 26.9% 1-Year Est. Return
Select Equity Group
Select Equity Group New York $19.5B AUM 17.33% 1-Year Est. Return
MIM
MetLife Investment Management Whippany, New Jersey $19.6B AUM 32.64% 1-Year Est. Return
SPIA
Steward Partners Investment Advisory New York $19.6B AUM 22.89% 1-Year Est. Return
BPA
Beacon Pointe Advisors Newport Beach, California $18.9B AUM 18.9% 1-Year Est. Return
NAM
Nissay Asset Management Tokyo, Japan $18.9B AUM 27.21% 1-Year Est. Return

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.