Pentwater Capital Management LP
Reported holdings as of Q2 2026, from 32 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ELECTRONIC ARTS INC | EA | $2.8B | 13,475,000 | +3.36pp | 4q | +5.2%+$136.9M | |
| BOEING CO OPT | BA | $2.3B | 6,200,000 | +1.25pp | 21q | -12.3%-$316.5M | |
| WARNER BROS DISCOVERY INC OPT | WBD | $1.4B | 47,576,000 | +0.70pp | 4q | -5.3%-$78.4M | |
| STATE STR SPDR S&P 500 ETF T OPT | SPY | $1.1B | 40,000 | -5.44pp | 26q | -93.1%-$14.7B | |
| KENVUE INC | KVUE | $977.1M | 51,130,000 | +0.92pp | 6q | -1.7%-$16.6M | |
| UNITEDHEALTH GROUP INC OPT | UNH | $922.5M | 17,758 | +0.03pp | 5q | -96.5%-$25.7B | |
| NORFOLK SOUTHN CORP OPT | NSC | $905.5M | 2,775,000 | +0.59pp | 4q | -13.8%-$145.2M | |
| ROKU INC | ROKU | $597.5M | 4,325,000 | - | new | NEW | |
| ECHOSTAR CORP OPT | ECHO | $477.1M | 3,860,000 | +1.38pp | 4q | +63.6%+$185.4M | |
| AVIS BUDGET GROUP INC | CAR | $371.5M | 2,513,300 | -3.65pp | 10q | -64.3%-$670.4M | |
| TXNM ENERGY INC | TXNM | $368.4M | 6,487,500 | +1.40pp | 5q | +131.7%+$209.4M | |
| TECK RESOURCES LTD | TECK | $354.4M | 5,960,000 | +0.30pp | 13q | -14.4%-$59.5M | |
| CAESARS ENTERTAINMENT INC NE | CZR | $346.0M | 11,465,000 | +1.75pp | 2q | +332.6%+$266.0M | |
| GEO GROUP INC | GEO | $312.7M | 10,582,000 | +1.07pp | 6q | +10.6%+$30.1M | |
| CARNIVAL CORP LTD OPT | CCL | $247.3M | 5,705,000 | - | new | NEW | |
| ORGANON & CO | OGN | $245.1M | 18,100,000 | - | new | NEW | |
| DOMINION ENERGY INC | D | $239.0M | 3,500,000 | - | new | NEW | |
| PARAMOUNT SKYDANCE CORP OPT | PSKY | $216.4M | 12,000,000 | +0.96pp | 4q | +192.7%+$142.5M | |
| DIGITALBRIDGE GROUP INC | DBRG | $198.8M | 12,600,000 | +0.28pp | 3q | +7.2%+$13.4M | |
| SURGERY PARTNERS INC | SGRY | $195.4M | 11,630,000 | +0.41pp | 7q | -8.1%-$17.2M | |
| APOGEE THERAPEUTICS INC | APGE | $189.1M | 1,425,000 | - | new | NEW | |
| MICRON TECHNOLOGY INC OPT | MU | $174.3M | 18,000 | - | new | NEW | |
| TENET HEALTHCARE CORP OPT | THC | $165.6M | 765,000 | +0.89pp | 2q | +512.0%+$138.5M | |
| SILICON LABORATORIES INC | SLAB | $162.1M | 741,725 | +0.45pp | 2q | +48.3%+$52.8M | |
| SPACE EXPLORATION TECHN CORP OPT | SPCX | $148.6M | 230,000 | - | new | NEW | |
| NUVALENT INC | NUVL | $145.1M | 1,175,000 | - | new | NEW | |
| GLOBALSTAR INC | GSAT | $110.1M | 1,355,000 | - | new | NEW | |
| ARCOSA INC | ACA | $95.9M | 660,000 | - | new | NEW | |
| LIBERTY BROADBAND CORP | LBRDK | $82.9M | 2,493,644 | -0.14pp | 8q | HELD | |
| PAYONEER GLOBAL INC | PAYO | $70.4M | 9,888,410 | - | new | NEW | |
| CORE SCIENTIFIC INC NEW OPT | CORZ | $67.5M | 536,594 | -2.21pp | 5q | -97.8%-$3.1B | |
| HCA HEALTHCARE INC OPT | HCA | $64.3M | 130,000 | +0.21pp | 2q | +73.3%+$27.2M | |
| SKYWATER TECHNOLOGY INC | SKYT | $62.9M | 1,807,000 | - | new | NEW | |
| HUMANA INC OPT | HUM | $55.2M | 19,000 | - | new | NEW | |
| BIO-TECHNE CORP | TECH | $35.3M | 500,000 | - | new | NEW | |
| INVESCO QQQ TR OPT | QQQ | $29.5M | options only | -0.51pp | 2q | OPTIONS | |
| IONQ INC OPT | IONQ | $28.1M | options only | - | new | OPTIONS | |
| AXALTA COATING SYS LTD | AXTA | $25.9M | 756,762 | - | new | NEW | |
| ORACLE CORP OPT | ORCL | $20.5M | 90,000 | -0.05pp | 3q | -41.9%-$14.8M | |
| AVANOS MED INC | AVNS | $18.7M | 750,000 | - | new | NEW | |
| ISHARES TR OPT | EWU | $18.5M | options only | -0.01pp | 2q | OPTIONS | |
| ISHARES INC OPT | EWG | $12.4M | options only | +0.01pp | 2q | OPTIONS | |
| SINDA LTD | SIND | $9.6M | 800,000 | - | new | NEW | |
| AES CORP | AES | $7.3M | 500,000 | +0.01pp | 2q | HELD | |
| METALS RTY CO INC | $6.6M | 919,230 | - | new | NEW | ||
| KRANESHARES TRUST | KWEB | $6.1M | 250,000 | flat | 2q | HELD | |
| SUNSHINE SILVER MNG & REFNG | $5.8M | 439,400 | - | new | NEW | ||
| GENEDX HOLDINGS CORP | WGS | $5.7M | 82,500 | - | new | NEW | |
| LIBERTY BROADBAND CORP | LBRDA | $5.7M | 170,000 | -0.01pp | 7q | HELD | |
| AMC ENTMT HLDGS INC | AMC | $4.3M | 2,250,000 | -0.02pp | 6q | -76.0%-$13.5M | |
| ISHARES INC OPT | EWA | $4.2M | options only | - | new | OPTIONS | |
| GLOBAL X FDS OPT | COPX | $3.8M | options only | +0.01pp | 2q | OPTIONS | |
| VANECK ETF TRUST OPT | GDX | $3.8M | options only | flat | 2q | OPTIONS | |
| FORGENT POWER SOLUTIONS INC | FPS | $3.6M | 65,000 | flat | 2q | -59.4%-$5.3M | |
| DAUCH CORP | DCH | $2.8M | 519,790 | flat | 2q | HELD | |
| MEDLINE INC OPT | MDLN | $2.6M | 30,000 | flat | 2q | -40.0%-$1.7M | |
| SYNAPTICS INC | SYNA | $2.5M | 20,000 | - | new | NEW | |
| SEAPORT THERAPEUTICS INC | SPTX | $1.8M | 83,000 | - | new | NEW | |
| CONSTELLATION ENERGY CORP | CEG | $1.7M | 7,000 | - | new | NEW | |
| CORECIVIC INC | CXW | $1.5M | 50,000 | flat | 2q | HELD | |
| KARMAN HLDGS INC | KRMN | $1.2M | 25,000 | - | new | NEW | |
| CEREBRAS SYSTEMS INC | CBRS | $1.1M | 5,000 | - | new | NEW | |
| NYXOAH S A | NYXH | $1.0M | 600,000 | - | new | NEW | |
| EROCK INC | EROC | $870.0K | 60,000 | - | new | NEW | |
| TAYLOR MORRISON HOME CORP | TMHC | $358.7K | 5,000 | - | new | NEW | |
| ALLIED GOLD CORP | AAUC | $237.3K | 10,000 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Telecom & Media | $2.9B | 17.7% |
| Software & IT Services | $2.8B | 17.2% |
| Autos & Aerospace | $2.3B | 13.8% |
| Transport & Logistics | $1.2B | 7.0% |
| Funds & ETFs | $1.1B | 6.9% |
| Chemicals | $1.0B | 6.1% |
| Insurance | $977.7M | 6.0% |
| Business Services | $788.0M | 4.8% |
| Utilities | $616.4M | 3.8% |
| Biotech & Pharma | $469.5M | 2.9% |
| Healthcare Services | $430.9M | 2.6% |
| Semiconductors & Electronics | $405.4M | 2.5% |
| Other sectors | $1.0B | 6.3% |
| Not classified | $387.4M | 2.4% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $16.4B | 66 | 31 | 10 | 15 | 30 | 71.9% | 45 |
| Q1 2026 | $19.3B | 65 | 33 | 21 | 4 | 22 | 74.4% | 45 |
| Q4 2025 | $19.0B | 54 | 19 | 16 | 13 | 44 | 73.5% | 48 |
| Q3 2025 | $17.9B | 79 | 38 | 17 | 12 | 30 | 66.2% | 45 |
| Q2 2025 | $15.4B | 71 | 22 | 27 | 15 | 26 | 73.3% | 45 |
| Q1 2025 | $11.9B | 75 | 35 | 21 | 8 | 21 | 77.8% | 45 |
| Q4 2024 | $9.1B | 61 | 25 | 17 | 12 | 26 | 79.3% | 45 |
| Q3 2024 | $9.7B | 62 | 19 | 15 | 15 | 19 | 79.0% | 45 |
| Q2 2024 | $7.8B | 62 | 20 | 16 | 17 | 24 | 79.7% | 31 |
| Q1 2024 | $9.8B | 66 | 27 | 13 | 18 | 36 | 83.2% | 45 |
| Q4 2023 | $8.9B | 75 | 27 | 18 | 22 | 29 | 75.0% | 45 |
| Q3 2023 | $18.6B | 77 | 22 | 20 | 22 | 39 | 91.0% | 45 |
| Q2 2023 | $14.5B | 94 | 26 | 24 | 24 | 34 | 83.3% | 45 |
| Q1 2023 | $10.3B | 102 | 43 | 26 | 21 | 30 | 68.6% | 45 |
| Q4 2022 | $5.7B | 89 | 25 | 23 | 22 | 46 | 75.4% | 45 |
| Q3 2022 | $8.9B | 110 | 34 | 30 | 29 | 100 | 67.3% | 45 |
| Q2 2022 | $8.5B | 176 | 76 | 33 | 23 | 63 | 52.9% | 46 |
| Q1 2022 | $8.4B | 163 | 58 | 30 | 40 | 100 | 51.0% | 46 |
| Q4 2021 | $9.2B | 205 | 70 | 38 | 35 | 95 | 64.6% | 42 |
| Q3 2021 | $9.8B | 230 | 70 | 54 | 46 | 143 | 57.6% | 46 |
| Q2 2021 | $12.1B | 303 | 113 | 51 | 54 | 149 | 60.4% | 47 |
| Q1 2021 | $10.5B | 339 | 189 | 39 | 49 | 85 | 53.8% | 47 |
| Q4 2020 | $8.3B | 235 | 85 | 36 | 45 | 69 | 64.5% | 47 |
| Q3 2020 | $7.7B | 219 | 95 | 35 | 38 | 35 | 62.4% | 70 |
| Q2 2020 | $5.6B | 159 | 71 | 35 | 25 | 35 | 68.4% | 45 |
| Q1 2020 | $6.1B | 123 | 39 | 32 | 23 | 67 | 59.5% | 45 |
| Q4 2019 | $6.1B | 151 | 52 | 22 | 37 | 56 | 62.6% | 45 |
| Q3 2019 | $6.4B | 155 | 58 | 15 | 42 | 84 | 64.6% | 45 |
| Q2 2019 | $9.3B | 181 | 90 | 17 | 38 | 45 | 57.3% | 45 |
| Q1 2019 | $7.9B | 136 | 53 | 20 | 32 | 54 | 66.7% | 45 |
| Q4 2018 | $11.7B | 137 | 52 | 31 | 16 | 60 | 77.4% | 116 |
| Q3 2018 | $11.8B | 145 | 0 | 0 | 0 | 0 | 76.5% | 208 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.