Q2 2026 13F · SEC CIK 1425851

Pentwater Capital Management LP

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $12.5B
Reported positions: 59
Holdings vs S&P 500, 3 yrs: —
Assets under management: $19.3B

Pentwater Capital Management LP is a hedge fund that reported 59 positions worth $12.5B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Electronic Arts Inc (EA, 22.1%), Boeing Co (BA, 10.7%), Warner Bros Discovery Inc (WBD, 10.1%).

Pentwater Capital Management LP holdings largest 50 of 59 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Pentwater Capital Management LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
EAElectronic Arts Inc	22.1%	18.6%	13,475,000	+5.2%	$2.8B
BABoeing Co	10.7%	10.0%	6,200,000	-12.3%	$1.3B
WBDWarner Bros Discovery Inc	10.1%	9.8%	47,576,000	-5.3%	$1.3B
KVUEKenvue Inc	7.8%	6.4%	51,130,000	-1.7%	$977.1M
NSCNorfolk Southn Corporation	7.0%	6.6%	2,775,000	-13.8%	$873.0M
ROKURoku Inc	4.8%	—	4,325,000	—	$597.5M
ECHOEchoStar Corp	3.1%	2.0%	3,860,000	+63.6%	$391.8M
CARAvis Budget Group	3.0%	7.3%	2,513,300	-64.3%	$371.5M
TXNMTxnm Energy Inc	2.9%	1.2%	6,487,500	+131.7%	$368.4M
TECKTeck Resources Ltd	2.8%	2.6%	5,960,000	-14.4%	$354.4M
12769G100Caesars Entertainment Inc Ne	2.8%	0.5%	11,465,000	+332.6%	$346.0M
GEOGeo Group Inc	2.5%	1.1%	10,582,000	+10.6%	$312.7M
OGNOrganon & Co	2.0%	—	18,100,000	—	$245.1M
DDominion Energy Inc	1.9%	—	3,500,000	—	$239.0M
DBRGDigitalbridge Group Inc	1.6%	1.3%	12,600,000	+7.2%	$198.8M
SGRYSurgery Partners Inc	1.6%	1.1%	11,630,000	-8.1%	$195.4M
APGEApogee Therapeutics Inc	1.5%	—	1,425,000	—	$189.1M
CCLCarnival Corp Ltd	1.3%	—	5,705,000	—	$163.0M
SLABSilicon Laboratories Inc	1.3%	0.7%	741,725	+48.3%	$162.1M
NUVLNuvalent Inc	1.2%	—	1,175,000	—	$145.1M
THCTenet Healthcare Corp	1.1%	0.2%	765,000	+512.0%	$143.1M
PSKYParamount Skydance Corp	0.9%	0.3%	12,000,000	+192.7%	$118.3M
GSATGlobalstar Inc	0.9%	—	1,355,000	—	$110.1M
ACAArcosa Inc	0.8%	—	660,000	—	$95.9M
LBRDKLiberty Broadband Corp	0.7%	0.9%	2,493,644	+0.0%	$82.9M
PAYOPayoneer Global Inc	0.6%	—	9,888,410	—	$70.4M
SKYTSkywater Technology Inc	0.5%	—	1,807,000	—	$62.9M
HCAHca Healthcare Inc	0.4%	0.3%	130,000	+73.3%	$50.7M
SPCXSpace Exploration Techn Corp	0.3%	—	230,000	—	$39.3M
TECHBio-Techne Corp	0.3%	—	500,000	—	$35.3M
SPYState Str Spdr S&p 500 ETF T	0.2%	2.7%	40,000	-93.1%	$29.9M
AXTAAxalta Coating Sys Ltd	0.2%	—	756,762	—	$25.9M
MUMicron Technology Inc	0.2%	—	18,000	—	$20.8M
AVNSAvanos Med Inc	0.1%	—	750,000	—	$18.7M
CORZCore Scientific Inc New	0.1%	2.6%	536,594	-97.8%	$13.7M
ORCLOracle Corp	0.1%	0.2%	90,000	-41.9%	$13.2M
SINDSinda Ltd	0.1%	—	800,000	—	$9.6M
HUMHumana Inc	0.1%	—	19,000	—	$7.5M
UNHUnitedhealth Group Inc	0.1%	1.0%	17,758	-96.5%	$7.4M
AESAES Corp	0.1%	0.1%	500,000	+0.0%	$7.3M
TMCRMetals Royalty Co Inc/The	0.1%	—	919,230	—	$6.6M
KWEBKraneshares Trust	0.0%	0.1%	250,000	+0.0%	$6.1M
SSMRSunshine Silver Mng & Refng	0.0%	—	439,400	—	$5.8M
WGSGenedx Holdings Corp	0.0%	—	82,500	—	$5.7M
LBRDALiberty Broadband Corp	0.0%	0.1%	170,000	+0.0%	$5.7M
AMCAmc Entmt Hldgs Inc	0.0%	0.1%	2,250,000	-76.0%	$4.3M
FPSForgent Power Solutions Inc	0.0%	0.0%	65,000	-59.4%	$3.6M
DCHDauch Corp	0.0%	0.0%	519,790	+0.0%	$2.8M
SYNASynaptics Inc	0.0%	—	20,000	—	$2.5M
SPTXSeaport Thereapeutics, Inc.	0.0%	—	83,000	—	$1.8M

What Pentwater Capital Management LP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +2.6% /yr; S&P 500 +14.9%
3 years: —
5 years: +9.9% /yr; S&P 500 +7.1%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$12.5B	59
Q1 2026	$14.1B	60
Q4 2025	$13.8B	47
Q3 2025	$11.1B	65
Q2 2025	$7.8B	63
Q1 2025	$7.2B	62
Q4 2024	$5.8B	54
Q3 2024	$5.4B	51
Q2 2024	$4.6B	51
Q1 2024	$6.1B	54
Q4 2023	$5.3B	66
Q3 2023	$10.4B	67

Questions about Pentwater Capital Management LP's portfolio

What stocks does Pentwater Capital Management LP own?

Pentwater Capital Management LP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 59 positions worth $12.5B. The largest are Electronic Arts Inc (EA) at 22.1%, Boeing Co (BA) at 10.7%, Warner Bros Discovery Inc (WBD) at 10.1%, Kenvue Inc (KVUE) at 7.8% and Norfolk Southn Corporation (NSC) at 7.0%.

What did Pentwater Capital Management LP buy last quarter?

In Q2 2026, Pentwater Capital Management LP added Tenet Healthcare Corp (THC) (+512.0% shares), Caesars Entertainment Inc Ne (+332.6% shares) and Paramount Skydance Corp (PSKY) (+192.7% shares), compared with its Q1 2026 filing.

What did Pentwater Capital Management LP sell last quarter?

In Q2 2026, Pentwater Capital Management LP cut from its top 50 Masimo Corp (MASI), cut from its top 50 Hologic Inc (HOLX), cut from its top 50 Arcellx Inc (ACLX), cut from its top 50 Centessa Pharmaceuticals PLC (CNTA), cut from its top 50 Netflix Inc. (NFLX), Core Scientific Inc New (CORZ) (-97.8% shares), Unitedhealth Group Inc (UNH) (-96.5% shares) and State Str Spdr S&p 500 ETF T (SPY) (-93.1% shares), compared with its Q1 2026 filing.

When is Pentwater Capital Management LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Pentwater Capital Management LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Pentwater Capital Management LP manage?

Pentwater Capital Management LP reported $19.3B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $12.5B.