WhaleCreep

Pentwater Capital Management LP 13F holdings, Q1 2025

Hedge fundSEC filingsCompare with another fundHoldings as of 2025-03-31, filed 2025-05-15

Pentwater Capital Management LP disclosed 63 US equity positions worth $7.2bn in its Q1 2025 13F filing. Its largest position is HES at 13.0% of the reported book, followed by USX1 and ITCIEUR. Versus Q4 2024 it opened 29 new positions, added to 21, reduced 6 and exited 21.

$7.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
63
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
13.0%
Largest position
The largest single position as a share of the reported equity book.
71.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
15
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
75
Quarters on file since Q4 2007
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q4 2024: 29 new, 21 added, 6 reduced, 21 exited

50 of 63
HES HESS CORP–13.0%$930m5.82m+9.6%added
USX1 UNITED STATES STL CORP NEW–11.4%$814m19.27m+4.0%added
ITCIEUR INTRA-CELLULAR THERAPIES INC–9.6%$685m5.19m–new
KEL KELLANOVA–9.2%$660m8.00m+39%added
BA BOEING COIndustrials7.8%$559m3.27m+30%added
JNP JUNIPER NETWORKS INC–6.5%$463m12.80m+0.2%held
SPY SPDR S&P 500 ETF Trust–4.7%$336m600,000−20%reduced
S9Q SPIRIT AEROSYSTEMS HLDGS INC–4.5%$322m9.33m+1.2%added
AKX ANSYS INC–3.0%$212m670,000+74%added
CAR AVIS BUDGET GROUP INCIndustrials2.5%$176m2.32m+271%added
NUE NUCOR CORPBasic Materials2.4%$171m1.43m+1681%added
FYBR FRONTIER COMMUNICATIONS PARE–2.3%$161m4.50m–new
HEESEUR H & E EQUIPMENT SERVICES INC–2.2%$156m1.65m–new
0VVB PARAMOUNT GLOBAL–2.0%$145m12.10m+31%added
AMED AMEDISYS INC–1.7%$125m1.34m+14%added
STLD STEEL DYNAMICS INCBasic Materials1.6%$114m910,000–new
8L8C LIBERTY BROADBAND CORP–1.3%$94.2m1.11m0.0%held
JWNUSD NORDSTROM INC–1.3%$92.9m3.80m+49%added
DFSEUR DISCOVER FINL SVCS–1.2%$87.1m510,000−4.7%reduced
AZEK AZEK CO INC–1.1%$75.4m1.54m–new
CCL CARNIVAL CORPConsumer Cyclical1.0%$73.2m3.75m+178%added
ENSTAR GROUP LIMITED no ticker–0.9%$67.4m202,862–new
SGRY SURGERY PARTNERS INCHealthcare0.9%$65.1m2.74m+545%added
IPG INTERPUBLIC GROUP COS INC–0.9%$63.6m2.34m+569%added
PLAYA HOTELS & RESORTS NV no ticker–0.8%$59.7m4.48m–new
TG7 TRIUMPH GROUP INC NEW–0.8%$58.3m2.30m–new
CCK CROWN HLDGS INCConsumer Cyclical0.7%$47.3m530,000−44%reduced
LIBERTY MEDIA CORP DEL no ticker–0.6%$41.4m615,000+0.6%added
GEO GEO GROUP INCIndustrials0.5%$35.2m1.21m–new
HCA HCA HEALTHCARE INCHealthcare0.4%$32.0m92,500–new
0OIA SOLARWINDS CORP–0.3%$22.1m1.20m–new
SWTXUSD SPRINGWORKS THERAPEUTICS INC–0.3%$22.1m500,000–new
ATSG* AIR TRANSPORT SERVICES GRP I–0.2%$16.4m732,755+7.4%added
DNB DUN & BRADSTREET HLDGS INC–0.2%$15.9m1.78m–new
TKO TKO GROUP HOLDINGS INCCommunication Services0.2%$15.3m100,000–new
IE IVANHOE ELECTRIC INCBasic Materials0.2%$14.8m2.56m−0.4%held
WBA WALGREENS BOOTS ALLIANCE INC–0.2%$14.6m1.30m–new
BECNUSD BEACON ROOFING SUPPLY INC–0.2%$13.4m108,000–new
016 VEREN INC–0.2%$13.3m2.01m–new
FNAUSD PARAGON 28 INC–0.2%$11.8m900,000–new
ESPERION THERAPEUTICS INC NE no ticker–0.1%$10.7m10.86m0.0%held
LBRDAEUR LIBERTY BROADBAND CORP–0.1%$10.4m122,100+20%added
SIRI SIRIUSXM HOLDINGS INCCommunication Services0.1%$10.1m450,0000.0%held
CYTK CYTOKINETICS INCHealthcare0.1%$8.8m220,000−80%reduced
KVUE KENVUE INCConsumer Defensive0.1%$7.2m300,000–new
BATRK ATLANTA BRAVES HLDGS INCCommunication Services0.10%$7.0m175,000+88%added
BB3 BROOKLINE BANCORP INC DEL–0.09%$6.8m620,352+24%added
DESPEGAR COM CORP no ticker–0.07%$4.7m250,000–new
FTNT FORTINET INCTechnology0.05%$3.6m37,000–new
DIVERSIFIED ENERGY COMPANY P no ticker–0.05%$3.2m240,000–new

Exited since Q4 2024

21 rows
SMARGBP SMARTSHEET INC8.6%$501m
0C3 ENDEAVOR GROUP HLDGS INC8.1%$473m
ARCADIUM LITHIUM PLC no ticker2.4%$141m
PSTXUSD POSEIDA THERAPEUTICS INC1.4%$82.8m
SNPS SYNOPSYS INC0.8%$48.5m
0E41 ENLINK MIDSTREAM LLC0.6%$36.4m
BERYEUR BERRY GLOBAL GROUP INC0.3%$18.3m
HCP2EUR HASHICORP INC0.3%$16.4m
7SU SUMMIT MATLS INC0.2%$10.1m
AZPN1USD ASPEN TECHNOLOGY INC0.2%$9.5m
SIL1EUR SILVERCREST METALS INC0.2%$9.1m
ALTREUR ALTAIR ENGR INC0.1%$7.6m
CPRI CAPRI HOLDINGS LIMITED0.1%$6.3m
ACI ALBERTSONS COMPANIES INC0.1%$5.9m
BUSD BARNES GROUP INC0.09%$5.2m
HUBS HUBSPOT INC0.06%$3.5m
TSLA TESLA INC0.02%$1.2m
INFA1EUR INFORMATICA INC0.02%$908k
MONEYLION INC no ticker0.01%$430k
THRY THRYV HLDGS INC0.0%$148k
STRAWBERRY FIELDS REIT INC no ticker0.0%$105k

Sector mix

  • Unclassified81.2%
  • Industrials10.8%
  • Basic Materials4.2%
  • Consumer Cyclical1.7%
  • Healthcare1.5%
  • Communication Services0.5%
  • Consumer Defensive0.1%
  • Technology0.09%
  • Utilities0.01%

Book over time

Every quarter on file (75)
QuarterPositionsEquity book
Q2 202659$12.5bn
Q1 202660$14.1bn
Q4 202547$13.8bn
Q3 202566$11.1bn
Q2 202564$7.8bn
Q1 202563$7.2bn
Q4 202455$5.8bn
Q3 202452$5.5bn
Q2 202453$4.6bn
Q1 202457$6.1bn
Q4 202368$5.3bn
Q3 202369$10.4bn
Q2 202386$8.0bn
Q1 202394$6.0bn
Q4 202280$3.2bn
Q3 2022100$6.6bn
Q2 2022115$5.9bn
Q1 2022121$5.4bn
Q4 2021157$6.3bn
Q3 2021183$7.3bn
Q2 2021259$9.7bn
Q1 2021276$8.6bn
Q4 2020190$6.5bn
Q3 2020180$5.0bn
Q2 2020129$3.4bn
Q1 202093$3.7bn
Q4 2019107$2.6bn
Q3 2019110$3.2bn
Q2 2019124$5.3bn
Q1 2019105$3.8bn
Q4 201898$5.1bn
Q3 2018107$6.6bn
Q2 201877$6.9bn
Q1 201849$8.4bn
Q4 201752$7.6bn
Q3 201755$6.3bn
Q2 201759$5.8bn
Q1 201753$4.7bn
Q4 201653$3.2bn
Q3 201671$5.4bn
Q2 201663$3.7bn
Q1 201648$6.3bn
Q4 201565$7.5bn
Q3 201588$7.3bn
Q2 2015103$11.5bn
Q1 201593$7.2bn
Q4 201487$7.4bn
Q3 2014113$6.5bn
Q2 201497$5.3bn
Q1 201485$2.2bn
Q4 201369$2.1bn
Q3 201380$2.4bn
Q2 201373$3.8bn
Q1 201341$1.3bn
Q4 201244$1.6bn
Q3 201239$1.3bn
Q2 201246$1.6bn
Q1 201242$1.8bn
Q4 201156$2.0bn
Q3 201154$1.4bn
Q2 201171$1.4bn
Q1 201171$2.2bn
Q4 201052$1.4bn
Q3 201052$1.5bn
Q2 201056$812m
Q1 201040$392m
Q4 200944$487m
Q3 200927$440m
Q2 200922$316m
Q1 200917$233m
Q4 200817$293m
Q3 200834$1.0bn
Q2 200828$728m
Q1 200827$1.0bn
Q4 200728$782m

Where Pentwater Capital Management LP was early

32 rows
BCE BCE INCQ1 20081 of 826.1%6.1%3Exited by Q4 2008+2.9%
HUN HUNTSMAN CORPQ1 20084 of 1438.9%8.9%4Exited by Q1 2009−85%
SPY STATE STR SPDR S&P 500 ETF TQ1 20087 of 2671.9%27.0%57Held at last filing, Q2 2026+466%
CMG CHIPOTLE MEXICAN GRILL INCQ2 20082 of 1851.4%1.7%3Exited by Q3 2009−3.2%
RGA REINSURANCE GROUP AMER INCQ1 20091 of 1021.8%1.8%6Exited by Q3 2010+41%
BAC BANK AMERICA CORPQ2 200912 of 23211.3%11.3%54Exited by Q1 2024+155%
CMCSA COMCAST CORPQ2 200917 of 2190.1%3.5%3Exited by Q3 2014+271%
AWK AMERICAN WTR WKS CO INC NEWQ4 20096 of 1230.6%1.2%2Exited by Q2 2010−2.9%
JPM JPMORGAN CHASE & COQ4 200912 of 2310.09%8.6%33Exited by Q1 2024+308%
FIS FIDELITY NATL INFORMATION SVQ2 20107 of 2257.1%7.1%3Exited by Q1 2011+2.1%
GS GOLDMAN SACHS GROUP INCQ2 201011 of 2298.0%8.0%21Exited by Q2 2022+151%
GM GENERAL MTRS COQ2 20111 of 1692.7%4.2%18Exited by Q4 2015−1.1%
META FACEBOOK INCQ2 20124 of 3842.1%2.1%2Exited by Q4 2012−30%
ZTS ZOETIS INCQ2 20132 of 17813.1%13.1%10Exited by Q1 2019+177%
CTB COOPER TIRE & RUBR COQ3 20131 of 652.9%2.9%3Exited by Q2 2021−46%
AAL AMERICAN AIRLINES GROUP INCQ4 201313 of 2383.9%3.9%27Exited by Q4 2022−52%
VOD VODAFONE GROUP PLCQ1 20143 of 1085.0%5.0%3Exited by Q4 2014−11%
SYF SYNCHRONY FINANCIALQ3 20143 of 1810.4%5.5%36Exited by Q1 2024+56%
BKR BAKER HUGHES A GE COQ4 20148 of 1784.6%5.9%7Exited by Q4 2019−59%
HUM HUMANA INCQ2 201513 of 2113.4%8.2%12Held at last filing, Q2 2026+108%
AVGO BROADCOM INCQ2 201516 of 3239.2%15.9%9Exited by Q2 2025+1160%
MXIM MAXIM INTEGRATED PRODS INCQ4 201510 of 1010.09%12.3%5Exited by Q3 2021+177%
SNDK SANDISK CORPQ4 201514 of 2335.9%11.2%2Exited by Q2 2016+0.1%
DELL DELL TECHNOLOGIES INCQ3 20169 of 2743.8%7.1%10Exited by Q1 2019+85%
TGNA TEGNA INCQ2 201715 of 1470.06%3.0%12Exited by Q1 2026−40%
AVA AVISTA CORPQ3 20179 of 990.2%1.0%5Exited by Q4 2018−2.3%
VICI VICI PPTYS INCQ1 201816 of 1632.1%3.0%23Exited by Q1 2024+74%
CI THE CIGNA GROUPQ4 201812 of 1921.1%1.1%5Exited by Q1 2024+58%
HHH HOWARD HUGHES CORPQ2 20199 of 1160.8%1.4%3Exited by Q1 2020+2.4%
COHR COHERENT INCQ1 202115 of 2633.5%5.9%6Exited by Q3 2022−25%
KVUE KENVUE INCQ2 202310 of 2030.03%7.8%9Held at last filing, Q2 2026−28%
AMC AMC ENTMT HLDGS INCQ3 20232 of 770.03%1.3%5Held at last filing, Q2 2026−76%

Concentration and tenure

17.9%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
76.3%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
1
Median completed holding, quarters