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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
+13.58%
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
$11.9B
AUM Growth
+$2.85B
Cap. Flow
+$2.52B
Cap. Flow %
21.15%
Top 10 Hldgs %
66.56%
Holding
140
New
48
Increased
33
Reduced
16
Closed
39

Top Buys

Rank Stock Value
1
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$647M
2
K
Kellanova
K
+$184M
3
NUE icon
Nucor
NUE
+$173M
4
FYBR
Frontier Communications
FYBR
+$161M
5
HEES
H&E Equipment Services
HEES
+$144M

Top Sells

Rank Stock Value
1
SMAR
Smartsheet Inc.
SMAR
+$501M
2
EDR
Endeavor Group Holdings, Inc.
EDR
+$473M
3
ALTM
Arcadium Lithium plc
ALTM
+$141M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$88.2M
5
PSTX
Poseida Therapeutics, Inc. Common Stock
PSTX
+$82.8M

Sector Composition

Rank Sector Weight
1 Industrials 11.86%
2 Materials 9.38%
3 Healthcare 8.13%
4 Energy 7.96%
5 Technology 5.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$2.5B 20.97%
4,464,600
+2,614,600
+141% +$1.54B
HES
2
DELISTED
Hess
HES
$930M 7.8%
5,820,000
+510,000
+10% +$75M
X
3
DELISTED
US Steel
X
$814M 6.84%
19,270,000
+750,000
+4% +$28.4M
ITCI
4
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$685M 5.75%
+5,190,000
New +$647M
K
5
DELISTED
Kellanova
K
$660M 5.54%
8,000,000
+2,245,000
+39% +$184M
BA icon
6
Boeing
BA
$168B
$559M 4.69%
3,275,000
+765,000
+30% +$132M
BA icon
7
PUT
Boeing
BA
$168B
$516M 4.33%
3,023,300
-151,700
-5% -$26.3M
JNPR
8
DELISTED
Juniper Networks
JNPR
$463M 3.89%
12,800,000
+22,000
+0.2% +$805K
HES
9
PUT
DELISTED
Hess
HES
$439M 3.69%
2,750,000
+1,220,000
+80% +$179M
X
10
PUT
DELISTED
US Steel
X
$366M 3.08%
8,668,800
-2,086,700
-19% -$79M
SPY icon
11
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$336M 2.82%
600,000
-150,000
-20% -$88.2M
SPR
12
DELISTED
Spirit AeroSystems
SPR
$322M 2.7%
9,330,000
+110,000
+1% +$3.76M
ANSS
13
DELISTED
Ansys
ANSS
$212M 1.78%
670,000
+285,000
+74% +$95.6M
CVX icon
14
PUT
Chevron
CVX
$382B
$184M 1.54%
1,100,000
+60,000
+6% +$9.39M
CAR icon
15
Avis
CAR
$5.66B
$176M 1.48%
2,320,000
+1,695,000
+271% +$136M
NUE icon
16
Nucor
NUE
$57B
$171M 1.44%
1,425,000
+1,345,000
+1,681% +$173M
FYBR
17
DELISTED
Frontier Communications
FYBR
$161M 1.35%
+4,500,000
New +$161M
HEES
18
DELISTED
H&E Equipment Services
HEES
$156M 1.31%
+1,650,000
New +$144M
PARA
19
DELISTED
Paramount Global Class B
PARA
$145M 1.21%
12,100,000
+2,835,000
+31% +$31.7M
AMED
20
DELISTED
Amedisys
AMED
$125M 1.05%
1,345,000
+165,000
+14% +$15.2M
STLD icon
21
Steel Dynamics
STLD
$35.8B
$114M 0.96%
+910,000
New +$115M
PARA
22
PUT
DELISTED
Paramount Global Class B
PARA
$104M 0.87%
8,665,000
+3,210,000
+59% +$35.9M
ANSS
23
PUT
DELISTED
Ansys
ANSS
$95M 0.8%
300,000
-100,000
-25% -$33.5M
LBRDK icon
24
Liberty Broadband Class C
LBRDK
$4.31B
$94.2M 0.79%
1,108,000
– –
JWN
25
DELISTED
Nordstrom
JWN
$92.9M 0.78%
3,800,000
+1,250,000
+49% +$30.3M
1
2 3 4 5

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MGP
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A
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LF
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MIM
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SPIA
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Pentwater Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Pentwater Capital Management held 140 positions worth $11.9B, up 31% from $9.06B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Pentwater Capital Management deployed $2.52B of net new capital in Q1 2025, opening 48 new positions and adding to 33 existing holdings. Its largest new stake was Intra-Cellular Therapies Inc.: 5,190,000 shares worth $685M.

By sector, the portfolio is most concentrated in Industrials at 12% of assets, up from 9.2% a quarter earlier, followed by Materials and Healthcare.

On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $88.2M trimmed.

  • Pentwater Capital Management's largest Q1 2025 buy was Intra-Cellular Therapies Inc.: 5,190,000 shares worth $685M.
  • Pentwater Capital Management added most to Kellanova in Q1 2025, an estimated $184M increase.
  • Pentwater Capital Management's biggest Q1 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $88.2M.
  • Pentwater Capital Management fully exited Smartsheet Inc. in Q1 2025, selling an estimated $501M.
  • Pentwater Capital Management's ten largest holdings make up 67% of its $11.9B portfolio in Q1 2025.
  • Pentwater Capital Management opened 48 new positions and closed 39 in Q1 2025.
  • Pentwater Capital Management's portfolio value rose 31% quarter-over-quarter to $11.9B.

Based on Pentwater Capital Management's 13F filing for Q1 2025, filed 15 May 2025.