Pentwater Capital Management: 13F holdings, Q2 2026
Emerging, concentrated · SEC EDGAR filings (CIK 0001425851) · Explore on the interactive board
Pentwater Capital Management disclosed 59 US equity positions worth $12.5bn in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 14, 2026). Its largest position is EA at 22.1% of the reported book, followed by BA, WBD. The top ten holdings are 74.3% of the book, and the portfolio behaves like about 11 equal-weight positions. Versus the prior filing it opened 29 new positions, added to 10, reduced 14 and exited 25.
$12.5bnreported US equity book
59positions
22.1%largest position
74.3%top 10 weight
10.98effective positions (1/HHI)
75quarters on file since Q4 2007
What does Pentwater Capital Management own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 29 new, 10 added, 14 reduced, 25 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | EA ELECTRONIC ARTS INC | Communication Services | 22.1% | $2.8bn | 13,475,000 | 5% | added |
| 2 | BA BOEING CO | Industrials | 10.7% | $1.3bn | 6,200,000 | -12% | reduced |
| 3 | WBD WARNER BROS DISCOVERY INC | Communication Services | 10.1% | $1.3bn | 47,576,000 | -5% | reduced |
| 4 | KVUE KENVUE INC | Consumer Defensive | 7.8% | $977.1m | 51,130,000 | -2% | reduced |
| 5 | NSC NORFOLK SOUTHN CORP | Industrials | 7.0% | $873.0m | 2,775,000 | -14% | reduced |
| 6 | ROKU ROKU INC | Communication Services | 4.8% | $597.5m | 4,325,000 | – | new |
| 7 | ECHO ECHOSTAR CORP | Communication Services | 3.1% | $391.8m | 3,860,000 | 64% | added |
| 8 | CAR AVIS BUDGET GROUP INC | Industrials | 3.0% | $371.5m | 2,513,300 | -64% | reduced |
| 9 | TXNM TXNM ENERGY INC | Utilities | 2.9% | $368.4m | 6,487,500 | 132% | added |
| 10 | TECK TECK RESOURCES LTD | Basic Materials | 2.8% | $354.4m | 5,960,000 | -14% | reduced |
| 11 | CZR CAESARS ENTERTAINMENT INC NE | Consumer Cyclical | 2.8% | $346.0m | 11,465,000 | 333% | added |
| 12 | GEO GEO GROUP INC | Industrials | 2.5% | $312.7m | 10,582,000 | 11% | added |
| 13 | OGN ORGANON & CO | Healthcare | 2.0% | $245.1m | 18,100,000 | – | new |
| 14 | D DOMINION ENERGY INC | Utilities | 1.9% | $239.0m | 3,500,000 | – | new |
| 15 | DBRG DIGITALBRIDGE GROUP INC | Financial Services | 1.6% | $198.8m | 12,600,000 | 7% | added |
| 16 | SGRY SURGERY PARTNERS INC | Healthcare | 1.6% | $195.4m | 11,630,000 | -8% | reduced |
| 17 | APGE APOGEE THERAPEUTICS INC | Healthcare | 1.5% | $189.1m | 1,425,000 | – | new |
| 18 | CCL CARNIVAL CORP LTD | Consumer Cyclical | 1.3% | $163.0m | 5,705,000 | – | new |
| 19 | SLAB SILICON LABORATORIES INC | Technology | 1.3% | $162.1m | 741,725 | 48% | added |
| 20 | NUVALENT INC | 1.2% | $145.1m | 1,175,000 | – | new | |
| 21 | THC TENET HEALTHCARE CORP | Healthcare | 1.1% | $143.1m | 765,000 | 512% | added |
| 22 | PSKY PARAMOUNT SKYDANCE CORP | Communication Services | 0.9% | $118.3m | 12,000,000 | 193% | added |
| 23 | GSAT GLOBALSTAR INC | Communication Services | 0.9% | $110.1m | 1,355,000 | – | new |
| 24 | ACA ARCOSA INC | Industrials | 0.8% | $95.9m | 660,000 | – | new |
| 25 | 8L8C LIBERTY BROADBAND CORP | 0.7% | $82.9m | 2,493,644 | 0% | held | |
| 26 | PAYO PAYONEER GLOBAL INC | Technology | 0.6% | $70.4m | 9,888,410 | – | new |
| 27 | SKYWATER TECHNOLOGY INC | 0.5% | $62.9m | 1,807,000 | – | new | |
| 28 | HCA HCA HEALTHCARE INC | Healthcare | 0.4% | $50.7m | 130,000 | 73% | added |
| 29 | SPACE EXPLORATION TECHN CORP | 0.3% | $39.3m | 230,000 | – | new | |
| 30 | TECH BIO-TECHNE CORP | Healthcare | 0.3% | $35.3m | 500,000 | – | new |
| 31 | SPY STATE STR SPDR S&P 500 ETF T | 0.2% | $29.9m | 40,000 | -93% | reduced | |
| 32 | AXALTA COATING SYS LTD | 0.2% | $25.9m | 756,762 | – | new | |
| 33 | MU MICRON TECHNOLOGY INC | Technology | 0.2% | $20.8m | 18,000 | – | new |
| 34 | AVANOS MED INC | 0.1% | $18.7m | 750,000 | – | new | |
| 35 | CORZ CORE SCIENTIFIC INC NEW | Technology | 0.1% | $13.7m | 536,594 | -98% | reduced |
| 36 | ORCL ORACLE CORP | Technology | 0.1% | $13.2m | 90,000 | -42% | reduced |
| 37 | SINDA LTD | 0.1% | $9.6m | 800,000 | – | new | |
| 38 | HUM HUMANA INC | Healthcare | 0.1% | $7.5m | 19,000 | – | new |
| 39 | UNH UNITEDHEALTH GROUP INC | Healthcare | 0.1% | $7.4m | 17,758 | -97% | reduced |
| 40 | AES AES CORP | Utilities | 0.1% | $7.3m | 500,000 | 0% | held |
| 41 | METALS RTY CO INC | 0.1% | $6.6m | 919,230 | – | new | |
| 42 | KWEB KRANESHARES TRUST | 0.0% | $6.1m | 250,000 | 0% | held | |
| 43 | SUNSHINE SILVER MNG & REFNG | 0.0% | $5.8m | 439,400 | – | new | |
| 44 | WGS GENEDX HOLDINGS CORP | Healthcare | 0.0% | $5.7m | 82,500 | – | new |
| 45 | LIBERTY BROADBAND CORP | 0.0% | $5.7m | 170,000 | 0% | held | |
| 46 | AMC AMC ENTMT HLDGS INC | Communication Services | 0.0% | $4.3m | 2,250,000 | -76% | reduced |
| 47 | FPS FORGENT POWER SOLUTIONS INC | Industrials | 0.0% | $3.6m | 65,000 | -59% | reduced |
| 48 | DCH DAUCH CORP | Consumer Cyclical | 0.0% | $2.8m | 519,790 | 0% | held |
| 49 | SYNA SYNAPTICS INC | Technology | 0.0% | $2.5m | 20,000 | – | new |
| 50 | SEAPORT THERAPEUTICS INC | 0.0% | $1.8m | 83,000 | – | new |
What did Pentwater Capital Management sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| MASI* MASIMO CORP | 17.9% | $564.9m |
| HO1 HOLOGIC INC | 10.8% | $340.2m |
| ARCELLX INC | 10.5% | $329.5m |
| CNTA CENTESSA PHARMACEUTICALS PLC | 10.3% | $324.5m |
| NFLX NETFLIX INC. | 9.4% | $296.9m |
| CWAN CLEARWATER ANALYTICS HLDGS I | 8.6% | $269.3m |
| APELLIS PHARMACEUTICALS INC | 6.7% | $211.2m |
| AM6 AMICUS THERAPEUTIC | 6.4% | $202.4m |
| CCL CARNIVAL CORP | 5.0% | $156.8m |
| AIR LEASE CORP | 4.9% | $155.6m |
| WED WEBSTER FINL CORP | 4.1% | $129.5m |
| UAL UNITED AIRLS HLDGS INC | 1.5% | $46.0m |
| ONESTREAM INC | 1.4% | $45.4m |
| PNFP PINNACLE FINL PARTNERS INC | 0.8% | $25.8m |
| DAWNGBX DAY ONE BIOPHARMACEUTICALS I | 0.5% | $17.2m |
| GPCR STRUCTURE THERAPEUTICS INC | 0.4% | $11.8m |
| RNA ATRIUM THERAPEUTICS INC | 0.3% | $8.1m |
| UPS UNITED PARCEL SVCS INC | 0.1% | $4.4m |
| CANTALOUPE INC | 0.1% | $2.2m |
| PURETECH HEALTH PLC | 0.0% | $1.0m |
| BATRK ATLANTA BRAVES HLDGS INC | 0.0% | $854.0k |
| ENTREPRENEURSHARES SERIES TR | 0.0% | $776.9k |
| CRWV COREWEAVE INC | 0.0% | $736.0k |
| FRMI FERMI INC | 0.0% | $730.0k |
| RDDT REDDIT INC | 0.0% | $673.2k |
Sector mix
| Sector | Weight |
|---|---|
| Communication Services | 42.0% |
| Industrials | 24.0% |
| Consumer Defensive | 7.8% |
| Healthcare | 7.0% |
| Utilities | 4.9% |
| Consumer Cyclical | 4.1% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q2 2026 | 59 | $12.5bn |
| Q1 2026 | 60 | $14.1bn |
| Q4 2025 | 47 | $13.8bn |
| Q3 2025 | 66 | $11.1bn |
| Q2 2025 | 64 | $7.8bn |
| Q1 2025 | 63 | $7.2bn |
| Q4 2024 | 55 | $5.8bn |
| Q3 2024 | 52 | $5.5bn |
| Q2 2024 | 53 | $4.6bn |
| Q1 2024 | 57 | $6.1bn |
| Q4 2023 | 68 | $5.3bn |
| Q3 2023 | 69 | $10.4bn |
| Q2 2023 | 86 | $8.0bn |
| Q1 2023 | 94 | $6.0bn |
| Q4 2022 | 80 | $3.2bn |
| Q3 2022 | 100 | $6.6bn |
Earliest filing: Q4 2007 · 75 quarters on file
How concentrated is Pentwater Capital Management's portfolio?
Across every quarter Pentwater Capital Management has filed, its median largest position is 17.9% of the book and its median top-ten weight is 76.3%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 2248 completed holding spells, the median lasted 1.0 quarters; 59 positions are still open and their final length is unknown.