Pentwater Capital Management LP

Registered adviser

CIK

1425851

Location

NAPLES, FL

Portfolio Value

Large $16,340,642,466

Diversification

Diversified

Filing Date

Global Rank

#395 / 8,818 ▼ 77

Top Industry

Electronic Gaming & Multimedia 18.2%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 156873

Roster of Oct 1, 2026

Regulatory AUM

$19,263,985,072

Main clients

Pooled investment vehicles (94% of AUM)

Private funds

7 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$17,631,187,226 gross assets

LEI

549300213AA7D835LX84

Private funds on Schedule D 7.B.(1)

As filed Sep 6, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$7,339,365,000 gross assets in 8 funds Hedge funds $7,339,365,000 (8)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$19,263,985,072	Pooled investment vehicles (94%)
Apr 2025 to Mar 2026	$9,348,331,000	Pooled investment vehicles (93%)
Sep 2024 to Mar 2025	$8,351,972,000	Pooled investment vehicles (91%)
Apr 2024 to Aug 2024	$8,351,972,000	Pooled investment vehicles (91%)
May 2023 to Mar 2024	$5,862,014,000	Pooled investment vehicles (92%)
Apr 2023	$5,862,014,000	Pooled investment vehicles (92%)

4 earlier changes not shown.

Stated strategy

Quantitative / systematic, Fundamental active, Fixed income / rates, Long/short hedge, Activist, Private markets Form ADV Part 2A, Mar 31, 2026 · original

In the firm's words

Quantitative / systematic: In managing the clients’ portfolios, we rely upon fundamental analysis supplemented by quantitative analytics and portfolio management techniques.
Fundamental active: In managing the clients’ portfolios, we rely upon fundamental analysis supplemented by quantitative analytics and portfolio management techniques.
Fixed income / rates: We invest in loans and loan participations originated by banks and other financial institutions.
Long/short hedge: We take both long and short positions for our clients
Activist: we engage in distressed or activist investing
Private markets: We invest and trade, in illiquid and restricted, as well as thinly traded, instruments and securities, including privately placed securities and instruments.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 74.4% of the book (60%+)

Turnover

Medium turnover

49.0% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 6.1 quarters, but 0.2% of the book was already held when coverage starts

Closest benchmark: the Dow Jones Industrial Average as of 2026-07-31, active share 97.5%; sector active share 58.3% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

66 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

16.9%

+3.4 pts

Top 5

51.9%

−0.0 pts

Top 10

72.0%

−2.4 pts

HHI

757

Diversified+35

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Communication Services	34.6%	$5,654,926,713	9
Industrials	25.1%	$4,098,230,886	10
Healthcare	12.5%	$2,047,324,293	14
Unclassified	7.2%	$1,170,436,625	8
Consumer Defensive	6.0%	$977,094,300	1
Utilities	3.8%	$616,443,840	4
Consumer Cyclical	3.7%	$596,463,011	4
Technology	3.6%	$589,368,833	9
Basic Materials	2.5%	$402,487,965	6
Financial Services	1.1%	$187,866,000	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

10 positions

Ticker	Company	Δ Shares	Shares	Value
CZR	Caesars Entertainment, Inc.	+8,815,000	11,465,000	$346,013,700
SKYD	Skydance Corp	+7,900,000	12,000,000	$118,320,000
TXNM	Txnm Energy Inc	+3,687,500	6,487,500	$368,360,250
ECHO	EchoStar CORP	+1,500,000	3,860,000	$391,790,000
GEO	Geo Group Inc	+1,017,000	10,582,000	$312,698,100
DBRHP	DigitalBridge Group, Inc.	+850,000	12,600,000	$187,866,000
—		+667,500	13,475,000	$2,762,914,000
THC	Tenet Healthcare Corp	+640,000	765,000	$143,116,200
SLAB	Silicon Laboratories Inc.	+241,725	741,725	$162,111,416
HCA	HCA Healthcare, Inc.	+55,000	130,000	$50,685,700
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
CORZ	Core Scientific, Inc.	−24,315,406	536,594	$13,731,440
AMC	Amc Entertainment Holdings, Inc.	−7,120,686	2,250,000	$4,275,000
CAR	Avis Budget Group, Inc.	−4,535,000	2,513,300	$371,541,139
WBD	Warner Bros. Discovery, Inc.	−2,669,000	47,576,000	$1,268,376,160
SGRY	Surgery Partners, Inc.	−1,025,000	11,630,000	$195,384,000
TECK	Teck Resources Ltd	−1,000,000	5,960,000	$354,381,600
KVUE	Kenvue Inc.	−870,000	51,130,000	$977,094,300
BA	Boeing Co	−869,500	6,200,000	$1,342,114,000
SPY	Spdr S&P 500 ETF Trust	−540,000	40,000	$29,870,800
UNH	Unitedhealth Group Inc	−494,242	17,758	$7,380,757
NSC	Norfolk Southern Corp	−445,000	2,775,000	$872,987,250
CCL	Carnival Corp Ltd.	−355,000	5,705,000	$162,991,850
FPS	Forgent Power Solutions, Inc.	−95,000	65,000	$3,630,900
ORCL	Oracle Corp	−65,000	90,000	$13,189,500
MDLN	Medline Inc.	−20,000	30,000	$1,183,200
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
ROKU	Roku, Inc	4,325,000	$597,455,500
OGN	Organon & Co.	18,100,000	$245,074,000
D	Dominion Energy, Inc	3,500,000	$239,015,000
—		1,425,000	$189,140,250
—		1,175,000	$145,112,500
GSAT	Globalstar, Inc.	1,355,000	$110,147,950
ACA	Arcosa, Inc.	660,000	$95,891,400
PAYO	Payoneer Global Inc.	9,888,410	$70,405,479
—		1,807,000	$62,919,740
SPCX	Space Exploration Technologies Corp	230,000	$39,297,800
TECH	BIO-TECHNE Corp	500,000	$35,325,000
AXTA	Axalta Coating Systems Ltd.	756,762	$25,896,395
MU	Micron Technology Inc	18,000	$20,777,220
—		750,000	$18,660,000
SIND	Sinda Ltd.	800,000	$9,600,000
HUM	Humana Inc	19,000	$7,547,180
TMCR	Metals Royalty Co Inc.	919,230	$6,563,302
SSMR	Sunshine Silver Mining & Refining Co	439,400	$5,808,868
WGS	GeneDx Holdings Corp.	82,500	$5,663,625
SYNA	SYNAPTICS Inc	20,000	$2,484,600
SPTX	Seaport Therapeutics, Inc.	83,000	$1,802,760
CEG	Constellation Energy Corp	7,000	$1,738,590
KRMN	Karman Holdings Inc.	25,000	$1,248,000
CBRS	Cerebras Systems Inc.	5,000	$1,105,000
NYXH	Nyxoah SA	600,000	$1,014,000
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
—		3,176,000	$564,915,120
—		4,500,224	$340,171,932
—		2,870,000	$329,533,400
CNTA	Centessa Pharmaceuticals plc	8,170,000	$324,512,400
NFLX	Netflix Inc	3,088,000	$296,911,200
—		11,385,000	$269,255,250
—		5,250,000	$211,207,500
—		14,000,000	$202,440,000
—		2,396,825	$155,649,816
—		1,866,090	$129,543,967
UAL	United Airlines Holdings, Inc.	500,000	$46,035,000
—		1,890,000	$45,360,000
QQQ	Invesco Qqq Trust, Series 1	60,000	$34,630,800
PNFP	Pinnacle Financial Partners, Inc.	300,000	$25,842,000
—		800,000	$17,152,000
GPCR	Structure Therapeutics Inc.	245,000	$11,809,000
RNA	Atrium Therapeutics, Inc.	602,649	$8,057,417
UPS	United Parcel Service Inc	45,000	$4,427,100
—		200,000	$2,162,000
BATRK	Atlanta Braves Holdings, Inc.	20,000	$854,000
XOVR	EntrepreneurShares Series Trust ERShares Private-Public Crossover ETF	46,000	$776,940
CRWV	CoreWeave, Inc.	9,500	$735,965
FRMI	Fermi Inc.	125,000	$730,000
RDDT	Reddit, Inc.	5,000	$673,250
GLXY	Galaxy Digital Inc.	20,000	$369,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

66 tracked positions · $16,340,642,466 total · filing declares 90 positions · $16,351,603,926 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 66 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
		Added	13,475,000	+667,500	$2,762,914,000	+5.8%	4	$188.94	16.91%
BA	Boeing Co PUT CALL + SHARES Industrials	Reduced	10,425,000	-1,739,500	$2,256,699,750	−6.8%	21	$205.08	13.81%
WBD	Warner Bros. Discovery, Inc. PUT CALL + SHARES Communication Services	Reduced	52,440,400	-2,676,500	$1,398,061,064	−7.6%	4	$18.51	8.56%
SPY	Spdr S&P 500 ETF Trust PUT + SHARES	Reduced	1,462,500	-2,130,000	$1,092,151,125	−53.3%	26+	before history	6.68%
KVUE	Kenvue Inc. Consumer Defensive	Reduced	51,130,000	-5,470,000	$977,094,300	+0.1%	6	$17.89	5.98%
UNH	Unitedhealth Group Inc PUT CALL + SHARES Healthcare	Reduced	2,219,458	-1,777,542	$922,473,328	−14.7%	5	$346.42	5.65%
NSC	Norfolk Southern Corp PUT + SHARES Industrials	Reduced	2,878,300	-445,000	$905,484,397	−5.1%	4	$279.98	5.54%
ROKU	Roku, Inc Communication Services	NEW	4,325,000	NEW	$597,455,500	NEW	1	$121.99	3.66%
ECHO	EchoStar CORP PUT CALL + SHARES Communication Services	Added	4,700,000	+2,170,000	$477,050,000	+61.1%	4	$105.53	2.92%
CAR	Avis Budget Group, Inc. Industrials	Reduced	2,513,300	-5,310,800	$371,541,139	−67.4%	10	$111.76	2.27%
TXNM	Txnm Energy Inc Utilities	Added	6,487,500	+3,687,500	$368,360,250	+125.0%	5	$57.89	2.25%
TECK	Teck Resources Ltd Basic Materials	Reduced	5,960,000	-1,000,000	$354,381,600	−1.6%	13	$41.13	2.17%
CZR	Caesars Entertainment, Inc. Consumer Cyclical	Added	11,465,000	+8,815,000	$346,013,700	+394.0%	2	$27.17	2.12%
GEO	Geo Group Inc Industrials	Added	10,582,000	+967,000	$312,698,100	+93.5%	6	$21.52	1.91%
CCL	Carnival Corp Ltd. PUT + SHARES Consumer Cyclical	Reduced	8,655,000	-1,080,000	$247,273,350	−1.9%	9	$24.14	1.51%
OGN	Organon & Co. Healthcare	NEW	18,100,000	NEW	$245,074,000	NEW	1	$11.96	1.50%
D	Dominion Energy, Inc Utilities	NEW	3,500,000	NEW	$239,015,000	NEW	1	$65.02	1.46%
SKYD	Skydance Corp PUT + SHARES Communication Services	Added	21,950,000	+14,150,000	$216,427,000	+207.6%	4	unpriced	1.32%
SGRY	Surgery Partners, Inc. Healthcare	Reduced	11,630,000	-1,025,000	$195,384,000	+29.5%	7	$20.94	1.20%
		NEW	1,425,000	NEW	$189,140,250	NEW	1	$90.09	1.16%
DBRHP	DigitalBridge Group, Inc. Financial Services	Added	12,600,000	+850,000	$187,866,000	−1.4%	3	unpriced	1.15%
MU	Micron Technology Inc PUT CALL + SHARES Technology	NEW	151,000	NEW	$174,297,790	NEW	1	$749.89	1.07%
THC	Tenet Healthcare Corp PUT + SHARES Healthcare	Added	885,000	+760,000	$165,565,800	+601.9%	2	$188.23	1.01%
SLAB	Silicon Laboratories Inc. Technology	Added	741,725	+241,725	$162,111,416	+55.8%	2	$194.09	0.99%
SPCX	Space Exploration Technologies Corp PUT + SHARES Industrials	NEW	870,000	NEW	$148,648,200	NEW	1	unpriced	0.91%
		NEW	1,175,000	NEW	$145,112,500	NEW	1	unpriced	0.89%
GSAT	Globalstar, Inc. Communication Services	NEW	1,355,000	NEW	$110,147,950	NEW	1	$80.48	0.67%
ACA	Arcosa, Inc. Industrials	NEW	660,000	NEW	$95,891,400	NEW	1	$124.21	0.59%
		Held	2,493,644	0	$82,938,599	−33.9%	8	$85.43	0.51%
PAYO	Payoneer Global Inc. Technology	NEW	9,888,410	NEW	$70,405,479	NEW	1	$5.47	0.43%
CORZ	Core Scientific, Inc. PUT CALL + SHARES Technology	Reduced	2,636,594	-31,215,406	$67,470,440	−86.7%	5	$14.47	0.41%
HCA	HCA Healthcare, Inc. PUT + SHARES Healthcare	Added	165,000	+90,000	$64,331,850	+81.3%	2	$469.29	0.39%
		NEW	1,807,000	NEW	$62,919,740	NEW	1	$34.20	0.39%
HUM	Humana Inc PUT CALL + SHARES Healthcare	NEW	139,000	NEW	$55,213,580	NEW	1	$284.71	0.34%
TECH	BIO-TECHNE Corp Healthcare	NEW	500,000	NEW	$35,325,000	NEW	1	$54.00	0.22%
QQQ	Invesco Qqq Trust, Series 1 PUT	Reduced	40,000	-190,000	$29,456,000	−77.8%	—	—	0.18%
IONQ	IonQ, Inc. PUT Technology	NEW	526,800	NEW	$28,057,368	NEW	—	—	0.17%
AXTA	Axalta Coating Systems Ltd. Basic Materials	NEW	756,762	NEW	$25,896,395	NEW	1	$30.08	0.16%
ORCL	Oracle Corp PUT + SHARES Technology	Reduced	140,000	-85,000	$20,517,000	−38.0%	2	$162.55	0.13%
		NEW	750,000	NEW	$18,660,000	NEW	1	$23.56	0.11%
EWU	iShares MSCI United Kingdom ETF PUT	Reduced	400,000	-100,000	$18,456,000	−19.0%	—	—	0.11%
EWG	iShares MSCI Germany ETF PUT	Held	300,000	0	$12,411,000	+4.3%	—	—	0.08%
SIND	Sinda Ltd. Basic Materials	NEW	800,000	NEW	$9,600,000	NEW	1	unpriced	0.06%
AES	Aes Corp Utilities	Held	500,000	0	$7,330,000	+4.0%	2	$14.89	0.04%
TMCR	Metals Royalty Co Inc. Basic Materials	NEW	919,230	NEW	$6,563,302	NEW	1	$12.56	0.04%
		Held	250,000	0	$6,117,500	−13.9%	2	$32.76	0.04%
SSMR	Sunshine Silver Mining & Refining Co Basic Materials	NEW	439,400	NEW	$5,808,868	NEW	1	unpriced	0.04%
WGS	GeneDx Holdings Corp. Healthcare	NEW	82,500	NEW	$5,663,625	NEW	1	$56.83	0.03%
		Held	170,000	0	$5,657,600	−33.7%	7	unpriced	0.03%
AMC	Amc Entertainment Holdings, Inc. Communication Services	Reduced	2,250,000	-7,120,686	$4,275,000	−53.4%	2	$1.29	0.03%

Showing the top 50 of 66 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.