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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
VRNA
126
DELISTED
Verona Pharma
VRNA
– –
-5,300,000
Closed -$566M
VRNT
127
DELISTED
Verint Systems
VRNT
– –
-60,000
Closed -$1.22M
WGS icon
128
CALL
GeneDx Holdings
WGS
$2.3B
– –
-20,000
Closed -$2.15M
WNS
129
DELISTED
WNS Holdings
WNS
– –
-2,095,000
Closed -$160M
SOC icon
130
CALL
Sable Offshore Corp
SOC
$911M
– –
-35,000
Closed -$611K
RBRK icon
131
CALL
Rubrik
RBRK
$18.5B
– –
-5,000
Closed -$411K
RBRK icon
132
Rubrik
RBRK
$18.5B
– –
-11,500
Closed -$946K
CRWV
133
CALL
CoreWeave
CRWV
$49.5B
– –
-50,000
Closed -$6.84M
FIG
134
Figma
FIG
$12.4B
– –
-16,000
Closed -$830K
GEMI
135
Gemini Space Station
GEMI
$517M
– –
-13,000
Closed -$311K
2 3 4 5
6

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A
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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
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BPA
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NAM
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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.