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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
INTC icon
126
Intel
INTC
$513B
– –
-40,000
Closed -$969K
IPG
127
DELISTED
Interpublic Group of Companies
IPG
– –
-2,557,000
Closed -$62.6M
JNPR
128
DELISTED
Juniper Networks
JNPR
– –
-14,250,000
Closed -$569M
JNPR
129
PUT
DELISTED
Juniper Networks
JNPR
– –
-2,350,100
Closed -$93.8M
PARAA
130
DELISTED
Paramount Global Class A
PARAA
– –
-61,938
Closed -$1.42M
PARA
131
DELISTED
Paramount Global Class B
PARA
– –
-15,300,000
Closed -$197M
PARA
132
PUT
DELISTED
Paramount Global Class B
PARA
– –
-11,044,000
Closed -$142M
QQQ icon
133
PUT
Invesco QQQ Trust
QQQ
$481B
– –
-65,000
Closed -$35.9M
SKX
134
DELISTED
Skechers
SKX
– –
-7,000,000
Closed -$442M
STLD icon
135
Steel Dynamics
STLD
$37.6B
– –
-610,000
Closed -$80.1M
STR
136
DELISTED
Sitio Royalties
STR
– –
-773,000
Closed -$14.2M
SWTX
137
DELISTED
SpringWorks Therapeutics
SWTX
– –
-1,000,000
Closed -$47M
TGI
138
DELISTED
Triumph Group
TGI
– –
-1,500,000
Closed -$38.6M
TMUS icon
139
T-Mobile US
TMUS
$190B
– –
-5,000
Closed -$1.19M
VERV
140
DELISTED
Verve Therapeutics
VERV
– –
-6,720,000
Closed -$75.5M
VVX icon
141
V2X
VVX
$2.65B
– –
-15,000
Closed -$728K
VVX icon
142
PUT
V2X
VVX
$2.65B
– –
-1,400
Closed -$68K
WBA
143
DELISTED
Walgreens Boots Alliance
WBA
– –
-2,600,000
Closed -$29.8M
SOC icon
144
Sable Offshore Corp
SOC
$911M
– –
-10,000
Closed -$256K
VG
145
CALL
Venture Global Inc
VG
$32.9B
– –
-15,000
Closed -$234K
VG
146
Venture Global Inc
VG
$32.9B
– –
-25,000
Closed -$390K
TIC
147
TIC Solutions Inc
TIC
$2.2B
– –
-271,749
Closed -$3M
AHL
148
DELISTED
Aspen Insurance
AHL
– –
-20,000
Closed -$629K
OMDA
149
Omada Health Inc
OMDA
$1.41B
– –
-24,800
Closed -$454K
VOYG
150
Voyager Technologies
VOYG
$2.54B
– –
-25,000
Closed -$981K
2 3 4 5
6

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A
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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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NAM
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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.