Pentwater Capital Management LP

CIK

1425851

Location

NAPLES, FL

Portfolio Value

Large $19,107,496,511

Diversification

Diversified

Filing Date

Global Rank

#279 / 8,603 ▲ 47 · as of Mar 2026

Top Industry

Electronic Gaming & Multimedia 15.7%

3Y Alpha vs SPY

-14.1%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+21.4%

SPY

+76.5%

Annualised alpha

-14.2%

Max drawdown

−30.8%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

57 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

13.7%

−3.2 pts

Top 5

52.5%

−6.1 pts

Top 10

75.1%

−7.0 pts

HHI

736

Diversified−152

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Communication Services	27.5%	$5,263,353,321	9
Industrials	25.8%	$4,938,550,935	10
Healthcare	17.3%	$3,304,541,549	15
Unclassified	12.9%	$2,469,097,850	2
Consumer Defensive	5.1%	$975,784,000	1
Technology	5.0%	$962,230,235	9
Basic Materials	1.9%	$360,180,000	1
Financial Services	1.8%	$336,939,967	4
Consumer Cyclical	1.7%	$325,063,654	3
Utilities	0.9%	$170,733,000	2
Real Estate	0.0%	$1,022,000	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AMC	Amc Entertainment Holdings, Inc.	+9,270,686	9,370,686	$9,183,272
CWAN	Clearwater Analytics Holdings, Inc.	+8,785,000	11,385,000	$269,255,250
NFLX	Netflix Inc	+6,923,000	7,728,000	$743,047,200
CORZ	Core Scientific, Inc./tx	+4,512,000	33,852,000	$506,425,920
GEO	Geo Group Inc	+3,517,300	9,615,000	$161,628,150
CAR	Avis Budget Group, Inc.	+3,488,900	7,824,100	$1,141,144,985
CCL	Carnival Corp Ltd.	+2,710,000	9,735,000	$251,941,800
WBD	Warner Bros. Discovery, Inc.	+2,671,900	55,116,900	$1,513,510,074
SGRY	Surgery Partners, Inc.	+2,655,000	12,655,000	$150,847,600
FOLD	AMICUS THERAPEUTICS, INC.	+2,500,000	14,000,000	$202,440,000
EA	Electronic Arts Inc.	+1,857,500	12,807,500	$2,611,065,025
ECHO	EchoStar CORP	+1,718,300	2,530,000	$296,187,100
SPY	Spdr S&P 500 ETF Trust	+1,297,500	3,592,500	$2,336,346,450
TXNM	Txnm Energy Inc	+1,149,000	2,800,000	$163,688,000
UNH	Unitedhealth Group Inc	+767,000	3,997,000	$1,081,548,230
PSKY	Paramount Skydance Corp	+649,500	7,800,000	$70,356,000
TECK	Teck Resources Ltd	+460,000	6,960,000	$360,180,000
NSC	Norfolk Southern Corp	+304,300	3,323,300	$953,787,100
HOLX	HOLOGIC INC	+252,724	4,500,224	$340,171,932
DBRG	DigitalBridge Group, Inc.	+250,000	11,750,000	$181,185,000
ORCL	Oracle Corp	+212,500	225,000	$33,099,750
AL	SUMISHO AIR LEASE CORP	+156,825	2,396,825	$155,649,815
FRMI	Fermi Inc.	+100,000	175,000	$1,022,000
BA	Boeing Co	+69,500	12,164,500	$2,421,100,435
WYFI	WhiteFiber, Inc.	+25,000	45,000	$535,950
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
KVUE	Kenvue Inc.	−11,870,600	56,600,000	$975,784,000
CRWV	CoreWeave, Inc.	−275,500	14,500	$1,123,315
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
MASI	Masimo Corp	3,176,000	$564,915,120
ACLX	Arcellx, Inc.	2,870,000	$329,533,400
CNTA	Centessa Pharmaceuticals plc	8,170,000	$324,512,400
APLS	Apellis Pharmaceuticals, Inc.	5,250,000	$211,207,500
QQQ	Invesco Qqq Trust, Series 1	230,000	$132,751,400
WBS	Webster Financial Corp	1,866,090	$129,543,967
SLAB	Silicon Laboratories Inc.	500,000	$104,075,000
UAL	United Airlines Holdings, Inc.	1,030,000	$94,832,100
CZR	Caesars Entertainment, Inc.	2,650,000	$70,039,500
OS	OneStream, Inc.	1,890,000	$45,360,000
HCA	HCA Healthcare, Inc.	75,000	$35,493,000
PNFP	Pinnacle Financial Partners, Inc.	300,000	$25,842,000
THC	Tenet Healthcare Corp	125,000	$23,588,750
DAWN	Day One Biopharmaceuticals, Inc.	800,000	$17,152,000
GPCR	Structure Therapeutics Inc.	245,000	$11,809,000
RNA	Atrium Therapeutics, Inc.	602,649	$8,057,417
AES	Aes Corp	500,000	$7,045,000
FPS	Forgent Power Solutions, Inc.	160,000	$4,683,200
UPS	United Parcel Service Inc	45,000	$4,427,100
DCH	Dauch Corp	519,790	$3,082,354
MDLN	Medline Inc.	50,000	$2,225,000
CTLP	Cantaloupe, Inc.	200,000	$2,162,000
CXW	CoreCivic, Inc.	50,000	$945,500
RDDT	Reddit, Inc.	5,000	$673,250
GLXY	Galaxy Digital Inc.	20,000	$369,000
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
EXAS	EXACT SCIENCES CORP	7,250,000	$736,310,000
KMB	Kimberly Clark Corp	3,420,000	$345,043,800
SNPS	Synopsys Inc	390,000	$183,190,800
PANW	Palo Alto Networks Inc	880,000	$162,096,000
TGNA	TEGNA INC	1,750,000	$33,967,500
WGS	GeneDx Holdings Corp.	100,000	$13,006,000
TDAY	USA TODAY Co., Inc.	1,400,000	$7,210,000
PTGX	Protagonist Therapeutics, Inc	50,000	$4,367,000
KDP	Keurig Dr Pepper Inc.	25,000	$700,250
SBET	Sharplink, Inc.	40,000	$357,600
BORR	Borr Drilling Ltd	75,000	$302,250
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

57 positions · $19,107,496,511 total · as of Mar 31, 2026

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

Showing 1–50 of 57 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
EA	Electronic Arts Inc. Communication Services	Added	12,807,500	+1,857,500	$2,611,065,025	+16.7%	13.67%
BA	Boeing Co Industrials	Added	12,164,500	+69,500	$2,421,100,435	−7.8%	12.67%
SPY	Spdr S&P 500 ETF Trust	Added	3,592,500	+1,297,500	$2,336,346,450	+49.3%	12.23%
WBD	Warner Bros. Discovery, Inc. Communication Services	Added	55,116,900	+2,671,900	$1,513,510,074	+0.1%	7.92%
CAR	Avis Budget Group, Inc. Industrials	Added	7,824,100	+3,488,900	$1,141,144,985	+105.1%	5.97%
UNH	Unitedhealth Group Inc Healthcare	Added	3,997,000	+767,000	$1,081,548,230	+1.4%	5.66%
KVUE	Kenvue Inc. Consumer Defensive	Reduced	56,600,000	-11,870,600	$975,784,000	−17.4%	5.11%
NSC	Norfolk Southern Corp Industrials	Added	3,323,300	+304,300	$953,787,100	+9.4%	4.99%
NFLX	Netflix Inc Communication Services	Added	7,728,000	+6,923,000	$743,047,200	+884.5%	3.89%
MASI	Masimo Corp Healthcare	NEW	3,176,000	NEW	$564,915,120	NEW	2.96%
CORZ	Core Scientific, Inc./tx Technology	Added	33,852,000	+4,512,000	$506,425,920	+18.5%	2.65%
TECK	Teck Resources Ltd Basic Materials	Added	6,960,000	+460,000	$360,180,000	+15.7%	1.89%
HOLX	HOLOGIC INC Healthcare	Added	4,500,224	+252,724	$340,171,932	+7.5%	1.78%
ACLX	Arcellx, Inc. Healthcare	NEW	2,870,000	NEW	$329,533,400	NEW	1.72%
CNTA	Centessa Pharmaceuticals plc Healthcare	NEW	8,170,000	NEW	$324,512,400	NEW	1.70%
ECHO	EchoStar CORP Communication Services	Added	2,530,000	+1,718,300	$296,187,100	+235.7%	1.55%
CWAN	Clearwater Analytics Holdings, Inc. Technology	Added	11,385,000	+8,785,000	$269,255,250	+329.4%	1.41%
CCL	Carnival Corp Ltd. Consumer Cyclical	Added	9,735,000	+2,710,000	$251,941,800	+17.4%	1.32%
APLS	Apellis Pharmaceuticals, Inc. Healthcare	NEW	5,250,000	NEW	$211,207,500	NEW	1.11%
FOLD	AMICUS THERAPEUTICS, INC. Healthcare	Added	14,000,000	+2,500,000	$202,440,000	+23.6%	1.06%
DBRG	DigitalBridge Group, Inc. Financial Services	Reduced	11,750,000	-11,250,000	$181,185,000	−48.6%	0.95%
TXNM	Txnm Energy Inc Utilities	Added	2,800,000	+1,149,000	$163,688,000	+68.4%	0.86%
GEO	Geo Group Inc Industrials	Added	9,615,000	+3,517,300	$161,628,150	+64.4%	0.85%
AL	SUMISHO AIR LEASE CORP Industrials	Added	2,396,825	+156,825	$155,649,815	+8.2%	0.81%
SGRY	Surgery Partners, Inc. Healthcare	Added	12,655,000	+2,655,000	$150,847,600	−2.4%	0.79%
QQQ	Invesco Qqq Trust, Series 1	NEW	230,000	NEW	$132,751,400	NEW	0.69%
WBS	Webster Financial Corp Financial Services	NEW	1,866,090	NEW	$129,543,967	NEW	0.68%
SLAB	Silicon Laboratories Inc. Technology	NEW	500,000	NEW	$104,075,000	NEW	0.54%
UAL	United Airlines Holdings, Inc. Industrials	NEW	1,030,000	NEW	$94,832,100	NEW	0.50%
PSKY	Paramount Skydance Corp Communication Services	Added	7,800,000	+649,500	$70,356,000	−26.6%	0.37%
CZR	Caesars Entertainment, Inc. Consumer Cyclical	NEW	2,650,000	NEW	$70,039,500	NEW	0.37%
OS	OneStream, Inc. Technology	NEW	1,890,000	NEW	$45,360,000	NEW	0.24%
HCA	HCA Healthcare, Inc. Healthcare	NEW	75,000	NEW	$35,493,000	NEW	0.19%
ORCL	Oracle Corp Technology	Added	225,000	+212,500	$33,099,750	+1258.6%	0.17%
PNFP	Pinnacle Financial Partners, Inc. Financial Services	NEW	300,000	NEW	$25,842,000	NEW	0.14%
THC	Tenet Healthcare Corp Healthcare	NEW	125,000	NEW	$23,588,750	NEW	0.12%
DAWN	Day One Biopharmaceuticals, Inc. Healthcare	NEW	800,000	NEW	$17,152,000	NEW	0.09%
GPCR	Structure Therapeutics Inc. Healthcare	NEW	245,000	NEW	$11,809,000	NEW	0.06%
CHTR	Charter Communications, Inc. /Mo/ Communication Services	Held	50,000	0	$10,794,000	+3.4%	0.06%
AMC	Amc Entertainment Holdings, Inc. Communication Services	Added	9,370,686	+9,270,686	$9,183,272	+5786.7%	0.05%
LBRDA	Liberty Broadband Corp Communication Services	Held	170,000	0	$8,537,400	+4.0%	0.04%
RNA	Atrium Therapeutics, Inc. Healthcare	NEW	602,649	NEW	$8,057,417	NEW	0.04%
AES	Aes Corp Utilities	NEW	500,000	NEW	$7,045,000	NEW	0.04%
FPS	Forgent Power Solutions, Inc. Industrials	NEW	160,000	NEW	$4,683,200	NEW	0.02%
UPS	United Parcel Service Inc Industrials	NEW	45,000	NEW	$4,427,100	NEW	0.02%
DCH	Dauch Corp Consumer Cyclical	NEW	519,790	NEW	$3,082,354	NEW	0.02%
MDLN	Medline Inc. Healthcare	NEW	50,000	NEW	$2,225,000	NEW	0.01%
CTLP	Cantaloupe, Inc. Technology	NEW	200,000	NEW	$2,162,000	NEW	0.01%
CRWV	CoreWeave, Inc. Technology	Reduced	14,500	-275,500	$1,123,315	−94.6%	0.01%
PTCHF	PureTech Health plc Healthcare	Held	70,000	0	$1,040,200	−10.7%	0.01%