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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
+19.18%
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
$8.92B
AUM Growth
-$9.68B
Cap. Flow
-$10.4B
Cap. Flow %
-116.85%
Top 10 Hldgs %
63.36%
Holding
160
New
45
Increased
25
Reduced
29
Closed
51

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$1.37B
2
HES
Hess
HES
+$570M
3
X
US Steel
X
+$364M
4
SPLK
Splunk Inc
SPLK
+$228M
5
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$202M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$2.84B
2
SGEN
Seagen Inc. Common Stock
SGEN
+$2.73B
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$1.8B
4
VMW
VMware, Inc
VMW
+$653M
5
NATI
National Instruments Corp
NATI
+$267M

Sector Composition

Rank Sector Weight
1 Energy 21.05%
2 Healthcare 9.51%
3 Technology 8.79%
4 Materials 7.38%
5 Consumer Discretionary 3.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KVUE icon
126
CALL
Kenvue
KVUE
$36.9B
– –
-100,000
Closed -$2.01M
MANU icon
127
CALL
Manchester United
MANU
$3.73B
– –
-187,500
Closed -$3.71M
MRVL icon
128
Marvell Technology
MRVL
$196B
– –
-110,000
Closed -$5.95M
MRVL icon
129
PUT
Marvell Technology
MRVL
$196B
– –
-70,000
Closed -$3.79M
NXPI icon
130
NXP Semiconductors
NXPI
$60.4B
– –
-8,000
Closed -$1.6M
NXPI icon
131
PUT
NXP Semiconductors
NXPI
$60.4B
– –
-8,000
Closed -$1.6M
RXRX icon
132
CALL
Recursion Pharmaceuticals
RXRX
$1.73B
– –
-100,000
Closed -$765K
TSEM icon
133
Tower Semiconductor
TSEM
$28.5B
– –
-191,400
Closed -$4.7M
TSEM icon
134
PUT
Tower Semiconductor
TSEM
$28.5B
– –
-191,400
Closed -$4.7M
VYX icon
135
NCR Voyix
VYX
$1.14B
– –
-4,433,600
Closed -$70.7M
XBI icon
136
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.3B
– –
-125,000
Closed -$9.13M
AEL
137
DELISTED
American Equity Investment Life Holding Company
AEL
– –
-10,000
Closed -$536K
SGEN
138
CALL
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-453,400
Closed -$96.2M
SGEN
139
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-12,880,000
Closed -$2.73B
SGEN
140
PUT
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-9,732,600
Closed -$2.06B
ABCM
141
DELISTED
Abcam PLC
ABCM
– –
-4,303,000
Closed -$97.4M
GHL
142
DELISTED
Greenhill & Co., Inc.
GHL
– –
-478,500
Closed -$7.08M
HT
143
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
– –
-1,100,000
Closed -$10.8M
VMW
144
DELISTED
VMware, Inc
VMW
– –
-3,920,000
Closed -$653M
VMW
145
PUT
DELISTED
VMware, Inc
VMW
– –
-3,590,000
Closed -$598M
ARGO
146
DELISTED
Argo Group International Holdings, Ltd.
ARGO
– –
-325,000
Closed -$9.7M
NEWR
147
DELISTED
New Relic, Inc.
NEWR
– –
-1,949,000
Closed -$167M
TWNK
148
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
– –
-900,000
Closed -$30M
DEN
149
DELISTED
Denbury Inc.
DEN
– –
-1,170,000
Closed -$115M
DEN
150
PUT
DELISTED
Denbury Inc.
DEN
– –
-449,900
Closed -$44.1M
3 4 5
6
7

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LF
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MIM
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SPIA
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BPA
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NAM
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Pentwater Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Pentwater Capital Management held 160 positions worth $8.92B, down 52% from $18.6B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Pentwater Capital Management withdrew a net $10.4B in Q4 2023, closing 51 positions and reducing 29 holdings. Its most notable exit was Activision Blizzard, an estimated $2.84B position sold in full.

By sector, the portfolio is most concentrated in Energy at 21% of assets, up from 0.63% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Pentwater Capital Management opened a new position in Pioneer Natural Resource Co. worth $1.31B.

  • Pentwater Capital Management's largest Q4 2023 buy was Pioneer Natural Resource Co.: 5,840,000 shares worth $1.31B.
  • Pentwater Capital Management added most to US Steel in Q4 2023, an estimated $364M increase.
  • Pentwater Capital Management's biggest Q4 2023 reduction was Boeing, cutting an estimated $115M.
  • Pentwater Capital Management fully exited Activision Blizzard in Q4 2023, selling an estimated $2.84B.
  • Pentwater Capital Management's ten largest holdings make up 63% of its $8.92B portfolio in Q4 2023.
  • Pentwater Capital Management opened 45 new positions and closed 51 in Q4 2023.
  • Pentwater Capital Management's portfolio value fell 52% quarter-over-quarter to $8.92B.

Based on Pentwater Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.