Pentwater Capital Management 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Pentwater Capital Management disclosed 66 US equity positions worth $11.1bn in its Q3 2025 13F filing. The largest position was CYBERARK SOFTWARE LTD at 15.9% of the reported book, followed by EA and NSC. Against the Q2 2025 filing, it opened 22 new positions, added to 16 and reduced 7 among the top 50 holdings.
What did Pentwater Capital Management own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | CYBERARK SOFTWARE LTD | 15.9% | $1.8bn | 3,665,000 | – | new | |
| 2 | EA ELECTRONIC ARTS INC | Communication Services | 8.7% | $968.2m | 4,800,000 | – | new |
| 3 | NSC NORFOLK SOUTHN CORP | Industrials | 7.4% | $826.1m | 2,750,000 | – | new |
| 4 | KEL KELLANOVA | 7.4% | $820.2m | 10,000,000 | 12% | added | |
| 5 | VRNA VERONA PHARMA PLC | 5.1% | $565.6m | 5,300,000 | – | new | |
| 6 | BA BOEING CO | Industrials | 4.8% | $538.5m | 2,494,800 | 22% | added |
| 7 | WBD WARNER BROS DISCOVERY INC | Communication Services | 4.7% | $528.5m | 27,060,000 | – | new |
| 8 | CAR AVIS BUDGET GROUP | Industrials | 4.6% | $507.9m | 3,163,000 | 39% | added |
| 9 | CORZ CORE SCIENTIFIC INC NEW | Technology | 3.9% | $435.0m | 24,250,000 | 1200% | added |
| 10 | DAY DAYFORCE INC | 3.4% | $378.9m | 5,500,000 | – | new | |
| 11 | S9Q SPIRIT AEROSYSTEMS HLDGS INC | 3.3% | $362.8m | 9,400,000 | 5% | added | |
| 12 | KVUE KENVUE INC | Consumer Defensive | 3.1% | $342.1m | 21,080,000 | 2351% | added |
| 13 | SPY SPDR S&P 500 ETF TR | 2.4% | $266.5m | 400,000 | 74% | added | |
| 14 | SGRY SURGERY PARTNERS INC | Healthcare | 2.3% | $252.8m | 11,681,000 | 67% | added |
| 15 | 07WA MR COOPER GROUP INC | 1.9% | $210.2m | 997,000 | 115% | added | |
| 16 | INFORMATICA INC | 1.6% | $182.6m | 7,350,000 | 8% | added | |
| 17 | 89BIO INC | 1.6% | $172.7m | 11,750,000 | – | new | |
| 18 | 8L8C LIBERTY BROADBAND CORP | 1.5% | $169.8m | 2,672,000 | 0% | held | |
| 19 | WNS HLDGS LTD | 1.4% | $159.8m | 2,095,000 | – | new | |
| 20 | AMC AMC ENTMT HLDGS INC | Communication Services | 1.3% | $141.0m | 48,626,044 | – | new |
| 21 | AIR LEASE CORP | 1.3% | $140.0m | 2,200,000 | – | new | |
| 22 | TECK TECK RESOURCES LTD | Basic Materials | 1.1% | $127.3m | 2,900,000 | 7150% | added |
| 23 | CCL CARNIVAL CORP | Consumer Cyclical | 1.1% | $124.3m | 4,300,000 | 4% | added |
| 24 | BHF BRIGHTHOUSE FINL INC | Financial Services | 1.1% | $121.3m | 2,285,000 | 141% | added |
| 25 | HCA HCA HEALTHCARE INC | Healthcare | 1.0% | $108.0m | 253,400 | 58% | added |
| 26 | GEO GEO GROUP INC NEW | Industrials | 1.0% | $106.3m | 5,186,000 | 61% | added |
| 27 | MERUS N V | 0.8% | $91.3m | 970,000 | – | new | |
| 28 | UNH UNITEDHEALTH GROUP INC | Healthcare | 0.6% | $69.1m | 200,000 | -79% | reduced |
| 29 | TXNM TXNM ENERGY INC | Utilities | 0.6% | $67.3m | 1,190,000 | 6% | added |
| 30 | LIBERTY MEDIA CORP DEL | 0.5% | $56.1m | 594,700 | -22% | reduced | |
| 31 | NUE NUCOR CORP | Basic Materials | 0.5% | $54.2m | 400,000 | -10% | reduced |
| 32 | ECHO ECHOSTAR CORP | Communication Services | 0.4% | $48.9m | 640,000 | – | new |
| 33 | TGNA TEGNA INC | 0.4% | $47.3m | 2,326,300 | – | new | |
| 34 | VMEO* VIMEO INC | 0.4% | $46.6m | 6,009,500 | – | new | |
| 35 | WGS GENEDX HOLDINGS CORP | Healthcare | 0.4% | $45.8m | 425,000 | -65% | reduced |
| 36 | FYBR FRONTIER COMMUNICATIONS PARE | 0.4% | $43.0m | 1,152,000 | -71% | reduced | |
| 37 | PINNACLE FINL PARTNERS INC | 0.4% | $42.5m | 453,550 | – | new | |
| 38 | VERITEX HLDGS INC | 0.4% | $39.2m | 1,170,000 | – | new | |
| 39 | THC TENET HEALTHCARE CORP | Healthcare | 0.2% | $22.3m | 110,000 | – | new |
| 40 | 2655957D PREMIER INC | 0.1% | $16.6m | 598,300 | – | new | |
| 41 | CYTK CYTOKINETICS INC | Healthcare | 0.1% | $16.5m | 300,000 | 0% | held |
| 42 | PSKY PARAMOUNT SKYDANCE CORP | Communication Services | 0.1% | $16.2m | 855,020 | – | new |
| 43 | IE IVANHOE ELECTRIC INC | 0.1% | $15.7m | 1,250,000 | -52% | reduced | |
| 44 | 6PM PARAMOUNT GROUP INC | 0.1% | $13.1m | 2,001,400 | – | new | |
| 45 | SOHO HOUSE & CO INC | 0.1% | $13.1m | 1,476,000 | – | new | |
| 46 | ESPERION THERAPEUTICS INC NE | 0.1% | $10.8m | 10,861,000 | 0% | held | |
| 47 | LIBERTY BROADBAND CORP | 0.1% | $10.8m | 170,000 | 0% | held | |
| 48 | PRO PROS HOLDINGS INC | 0.1% | $5.7m | 250,000 | – | new | |
| 49 | BATRK ATLANTA BRAVES HLDGS INC | Communication Services | 0.0% | $3.7m | 90,000 | 0% | held |
| 50 | SIRI SIRIUSXM HOLDINGS INC | 0.0% | $2.9m | 125,000 | -44% | reduced |
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.