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PCM

Pentwater Capital Management Portfolio holdings

AUM $16.4B
1-Year Est. Return 55.44%
This Fund
S&P 500
This Quarter Est. Return
+14.92%
1 Year Est. Return
+55.44%
3 Year Est. Return
+212.86%
5 Year Est. Return
+622.31%
10 Year Est. Return
+4,977.78%
AUM
$15.4B
AUM Growth
+$3.5B
Cap. Flow
+$40.2M
Cap. Flow %
0.26%
Top 10 Hldgs %
61.13%
Holding
135
New
34
Increased
38
Reduced
18
Closed
39

Top Buys

Rank Stock Value
1
BPMC
Blueprint Medicines
BPMC
+$405M
2
SKX
Skechers
SKX
+$402M
3
UNH icon
UnitedHealth
UNH
+$373M
4
HES
Hess
HES
+$203M
5
INFA
Informatica
INFA
+$141M

Top Sells

Rank Stock Value
1
X
US Steel
X
+$814M
2
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$685M
3
BA icon
Boeing
BA
+$231M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$212M
5
HEES
H&E Equipment Services
HEES
+$156M

Sector Composition

Rank Sector Weight
1 Miscellaneous 50.15%
2 Healthcare 9.53%
3 Industrials 9.28%
4 Technology 6.84%
5 Energy 6.69%
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
$810B
$3.74B 24.29%
6,060,000
+1,595,400
+36% +$912M
HES
2
DELISTED
Hess
HES
$1.01B 6.58%
7,320,000
+1,500,000
+26% +$203M
BA icon
3
PUT
Boeing
BA
$167B
$959M 6.22%
4,578,500
+1,555,200
+51% +$294M
K
4
DELISTED
Kellanova
K
$709M 4.6%
8,910,000
+910,000
+11% +$74.4M
CAR icon
5
PUT
Avis
CAR
$4.73B
$674M 4.37%
3,984,800
+3,334,800
+513% +$359M
JNPR
6
DELISTED
Juniper Networks
JNPR
$569M 3.69%
14,250,000
+1,450,000
+11% +$52M
BPMC
7
DELISTED
Blueprint Medicines
BPMC
$500M 3.24%
+3,900,000
New +$405M
SKX
8
DELISTED
Skechers
SKX
$442M 2.87%
+7,000,000
New +$402M
BA icon
9
Boeing
BA
$167B
$430M 2.79%
2,050,000
-1,225,000
-37% -$231M
CAR icon
10
Avis
CAR
$4.73B
$384M 2.49%
2,270,000
-50,000
-2% -$5.39M
HES
11
PUT
DELISTED
Hess
HES
$381M 2.47%
2,750,000
– –
SPR
12
DELISTED
Spirit AeroSystems
SPR
$341M 2.22%
8,950,000
-380,000
-4% -$13.7M
CVX icon
13
PUT
Chevron
CVX
$412B
$330M 2.14%
2,305,000
+1,205,000
+110% +$170M
UNH icon
14
UnitedHealth
UNH
$360B
$304M 1.97%
+975,000
New +$373M
UNH icon
15
PUT
UnitedHealth
UNH
$360B
$301M 1.95%
+965,000
New +$369M
ANSS
16
DELISTED
Ansys
ANSS
$286M 1.86%
815,000
+145,000
+22% +$47.5M
LBRDK
17
DELISTED
Liberty Broadband Class C
LBRDK
$263M 1.71%
2,672,000
+1,564,000
+141% +$140M
PARA
18
DELISTED
Paramount Global Class B
PARA
$197M 1.28%
15,300,000
+3,200,000
+26% +$37.5M
AMED
19
DELISTED
Amedisys
AMED
$169M 1.09%
1,715,084
+370,084
+28% +$35M
INFA
20
DELISTED
Informatica
INFA
$166M 1.08%
+6,821,000
New +$141M
SGRY icon
21
Surgery Partners
SGRY
$1.83B
$156M 1.01%
7,000,000
+4,258,000
+155% +$94.6M
ESGR
22
DELISTED
Enstar Group
ESGR
$148M 0.96%
441,100
+238,238
+117% +$79.7M
FYBR
23
DELISTED
Frontier Communications
FYBR
$145M 0.94%
3,970,000
-530,000
-12% -$19.2M
PARA
24
PUT
DELISTED
Paramount Global Class B
PARA
$142M 0.92%
11,044,000
+2,379,000
+27% +$27.9M
SPY icon
25
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$142M 0.92%
230,000
-370,000
-62% -$212M
1
2 3 4 5

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Pentwater Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Pentwater Capital Management held 135 positions worth $15.4B, up 29% from $11.9B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Pentwater Capital Management's Q2 2025 filing shows 34 new, 38 increased, 18 reduced and 39 closed positions. Its largest new stake was Blueprint Medicines: 3,900,000 shares worth $500M. The largest sale was US Steel, an estimated $814M.

By sector, the portfolio is most concentrated in Miscellaneous at 50% of assets, up from 43% a quarter earlier, followed by Healthcare and Industrials.

  • Pentwater Capital Management's largest Q2 2025 buy was Blueprint Medicines: 3,900,000 shares worth $500M.
  • Pentwater Capital Management added most to Hess in Q2 2025, an estimated $203M increase.
  • Pentwater Capital Management's biggest Q2 2025 reduction was Boeing, cutting an estimated $231M.
  • Pentwater Capital Management fully exited US Steel in Q2 2025, selling an estimated $814M.
  • Pentwater Capital Management's ten largest holdings make up 61% of its $15.4B portfolio in Q2 2025.
  • Pentwater Capital Management opened 34 new positions and closed 39 in Q2 2025.
  • Pentwater Capital Management's portfolio value rose 29% quarter-over-quarter to $15.4B.

Based on Pentwater Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.