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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
CIR
151
DELISTED
CIRCOR International, Inc
CIR
– –
-60,000
Closed -$3.35M
NATI
152
DELISTED
National Instruments Corp
NATI
– –
-4,475,000
Closed -$267M
HZNP
153
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-15,552,000
Closed -$1.8B
HZNP
154
PUT
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-14,942,500
Closed -$1.73B
ESTE
155
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
– –
-29,100
Closed -$589K
ATVI
156
CALL
DELISTED
Activision Blizzard
ATVI
– –
-899,100
Closed -$84.2M
ATVI
157
DELISTED
Activision Blizzard
ATVI
– –
-30,374,600
Closed -$2.84B
ATVI
158
PUT
DELISTED
Activision Blizzard
ATVI
– –
-18,864,900
Closed -$1.77B
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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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.