Pentwater Capital Management 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
Pentwater Capital Management disclosed 63 US equity positions worth $7.2bn in its Q1 2025 13F filing. The largest position was HES at 13.0% of the reported book, followed by USX1 and INTRA-CELLULAR THERAPIES INC. Against the Q4 2024 filing, it opened 22 new positions, added to 19 and reduced 4 among the top 50 holdings.
What did Pentwater Capital Management own in Q1 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | HES HESS CORP | 13.0% | $929.6m | 5,820,000 | 10% | added | |
| 2 | USX1 UNITED STATES STL CORP NEW | 11.4% | $814.4m | 19,270,000 | 4% | added | |
| 3 | INTRA-CELLULAR THERAPIES INC | 9.6% | $684.7m | 5,190,000 | – | new | |
| 4 | KEL KELLANOVA | 9.2% | $659.9m | 8,000,000 | 39% | added | |
| 5 | BA BOEING CO | Industrials | 7.8% | $558.6m | 3,275,000 | 30% | added |
| 6 | JNP JUNIPER NETWORKS INC | 6.5% | $463.2m | 12,800,000 | 0% | held | |
| 7 | SPY SPDR S&P 500 ETF TR | 4.7% | $335.6m | 600,000 | -20% | reduced | |
| 8 | S9Q SPIRIT AEROSYSTEMS HLDGS INC | 4.5% | $321.5m | 9,330,000 | 1% | added | |
| 9 | AKX ANSYS INC | 3.0% | $212.1m | 670,000 | 74% | added | |
| 10 | CAR AVIS BUDGET GROUP | Industrials | 2.5% | $176.1m | 2,320,000 | 271% | added |
| 11 | NUE NUCOR CORP | Basic Materials | 2.4% | $171.5m | 1,425,000 | 1681% | added |
| 12 | FYBR FRONTIER COMMUNICATIONS PARE | 2.3% | $161.4m | 4,500,000 | – | new | |
| 13 | H & E EQUIPMENT SERVICES INC | 2.2% | $156.4m | 1,650,000 | – | new | |
| 14 | 0VVB PARAMOUNT GLOBAL | 2.0% | $144.7m | 12,100,000 | 31% | added | |
| 15 | AMED AMEDISYS INC | 1.7% | $124.6m | 1,345,000 | 14% | added | |
| 16 | STLD STEEL DYNAMICS INC | Basic Materials | 1.6% | $113.8m | 910,000 | – | new |
| 17 | 8L8C LIBERTY BROADBAND CORP | 1.3% | $94.2m | 1,108,000 | 0% | held | |
| 18 | NORDSTROM INC | 1.3% | $92.9m | 3,800,000 | 49% | added | |
| 19 | DISCOVER FINL SVCS | 1.2% | $87.1m | 510,000 | -5% | reduced | |
| 20 | AZEK AZEK CO INC | 1.1% | $75.4m | 1,541,842 | – | new | |
| 21 | CCL CARNIVAL CORP | Consumer Cyclical | 1.0% | $73.2m | 3,750,000 | 178% | added |
| 22 | ENSTAR GROUP LIMITED | 0.9% | $67.4m | 202,862 | – | new | |
| 23 | SGRY SURGERY PARTNERS INC | Healthcare | 0.9% | $65.1m | 2,742,000 | 545% | added |
| 24 | IPG INTERPUBLIC GROUP COS INC | 0.9% | $63.6m | 2,340,000 | 569% | added | |
| 25 | PLAYA HOTELS & RESORTS NV | 0.8% | $59.7m | 4,480,000 | – | new | |
| 26 | TG7 TRIUMPH GROUP INC NEW | 0.8% | $58.3m | 2,300,135 | – | new | |
| 27 | CCK CROWN HLDGS INC | Consumer Cyclical | 0.7% | $47.3m | 530,000 | -44% | reduced |
| 28 | LIBERTY MEDIA CORP DEL | 0.6% | $41.4m | 615,000 | 1% | added | |
| 29 | GEO GEO GROUP INC NEW | Industrials | 0.5% | $35.2m | 1,205,000 | – | new |
| 30 | HCA HCA HEALTHCARE INC | Healthcare | 0.4% | $32.0m | 92,500 | – | new |
| 31 | SOLARWINDS CORP | 0.3% | $22.1m | 1,201,358 | – | new | |
| 32 | SPRINGWORKS THERAPEUTICS INC | 0.3% | $22.1m | 500,000 | – | new | |
| 33 | ATSG* AIR TRANSPORT SERVICES GRP I | 0.2% | $16.4m | 732,755 | 7% | added | |
| 34 | DUN & BRADSTREET HLDGS INC | 0.2% | $15.9m | 1,776,746 | – | new | |
| 35 | TKO TKO GROUP HOLDINGS INC | Communication Services | 0.2% | $15.3m | 100,000 | – | new |
| 36 | IE IVANHOE ELECTRIC INC | 0.2% | $14.8m | 2,555,841 | -0% | held | |
| 37 | WBA WALGREENS BOOTS ALLIANCE INC | 0.2% | $14.6m | 1,303,193 | – | new | |
| 38 | BEACON ROOFING SUPPLY INC | 0.2% | $13.4m | 108,000 | – | new | |
| 39 | VEREN INC | 0.2% | $13.3m | 2,006,000 | – | new | |
| 40 | PARAGON 28 INC | 0.2% | $11.8m | 900,000 | – | new | |
| 41 | ESPERION THERAPEUTICS INC NE | 0.1% | $10.7m | 10,861,000 | 0% | held | |
| 42 | LIBERTY BROADBAND CORP | 0.1% | $10.4m | 122,100 | 20% | added | |
| 43 | SIRI SIRIUSXM HOLDINGS INC | 0.1% | $10.1m | 450,000 | 0% | held | |
| 44 | CYTK CYTOKINETICS INC | Healthcare | 0.1% | $8.8m | 220,000 | -80% | reduced |
| 45 | KVUE KENVUE INC | Consumer Defensive | 0.1% | $7.2m | 300,000 | – | new |
| 46 | BATRK ATLANTA BRAVES HLDGS INC | Communication Services | 0.1% | $7.0m | 175,000 | 88% | added |
| 47 | BB3 BROOKLINE BANCORP INC DEL | 0.1% | $6.8m | 620,352 | 24% | added | |
| 48 | DESPEGAR COM CORP | 0.1% | $4.7m | 250,000 | – | new | |
| 49 | FTNT FORTINET INC | Technology | 0.0% | $3.6m | 37,000 | – | new |
| 50 | DIVERSIFIED ENERGY COMPANY P | 0.0% | $3.2m | 240,000 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.