Pentwater Capital Management LP — 13F Holdings & Portfolio

CIK 1425851 · latest 13F-HR filed 2026-08-14

Pentwater Capital Management LP manages $16.35B in 13F-reported U.S. long-equity assets across 90 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are EA (16.90%), BA (8.21%), WBD (7.76%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 29 new positions and exited 30; 13 existing positions rose in reported value and 14 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

AUM

$16.35B

Long-equity book

Holdings

Distinct positions

Period

2026-06-30

Filed 2026-08-14

Q/Q Activity

+29 / −30 / ↑13 / ↓14

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26

EA22.1% · +5%BA10.7% · -12%WBD10.1% · -5%KVUE7.8% · -2%NSC7.0% · -14%ROKU4.8% · new ECHO3.1% · new CAR3.0% · -64%TXNM2.9% · +132%TECK2.8% · -14%CZR2.8% · +333%GEO2.5% · +11%OGN2.0% · new D1.9% · new DBRG1.6% · +7%SGRY1.6% · -8%APGE1.5% · new CCL1.3% · -6%SLAB1.3% · +48%NUVL1.2% · new THC1.1% · +512%PSKY0.9% · +193%GSAT0.9% · new ACA0.8% · new LBRDK0.7% · 0%PAYO0.6% · new SKYT0.5% · new HCA0.4% · +73%SPCX0.3% · new TECH0.3% · new SPY0.2% · -93%AXTA0.2% · new MU0.2% · new AVNS0.1% · new CORZ0.1% · -98%ORCL0.1% · -42%SIND0.1% · new HUM0.1% · new UNH0.1% · -96%AES0.1% · 0%TMCR0.1% · new KWEB0.0% · 0%SSMR0.0% · new WGS0.0% · new LBRDA0.0% · 0%AMC0.0% · -76%FPS0.0% · -59%DCH0.0% · 0%SYNA0.0% · new SPTX0.0% · new CEG0.0% · new CXW0.0% · 0%KRMN0.0% · new MDLN0.0% · -40%CBRS0.0% · new NYXH0.0% · new EROC0.0% · new TMHC0.0% · new AAUC0.0% · new

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 74.3%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Assets Under Management

$19.26B

Discretionary

$19.26B

Employees

Accounts

Address

1001 10TH AVENUE SOUTH
SUITE 216
NAPLES, FL 34102

Phone

(239) 384-9750

Website

PWCM.COM

This firm reports 1 disclosure item on its registration.

Name	Title / Status	Ownership	Type
HALBOWER LEGACY TRUST Control	LIMITED PARTNER	25–50%	Domestic Entity
HALBOWER, JULIE, SCHULZ Control	TRUSTEE	General partner	Individual
HALBOWER, MATTHEW, CHARLES Control	CHIEF EXECUTIVE OFFICER	Less than 5%	Individual
HALBOWER, MATTHEW, CHARLES Control	SHAREHOLDER	75% or more	Individual
HALBOWER, MATTHEW, CHARLES Control	LIMITED PARTNER	50–75%	Individual
HALBOWER, SUSAN, LEE Control	TRUSTEE	General partner	Individual
KALLEEKAL, JOYCE Control	CHIEF FINANCIAL OFFICER	Less than 5%	Individual
MCH PWCM HOLDINGS INC. Control	GENERAL PARTNER	Less than 5%	Domestic Entity
MCH PWCM HOLDINGS INC. Control	GENERAL PARTNER	General partner	Domestic Entity
PENTWATER PARTNERS LP Control	LIMITED PARTNER	75% or more	Domestic Entity
TAVAKOLIAN, HOOMAN, DAVID Control	CHIEF COMPLIANCE OFFICER	Less than 5%	Individual
ZIRIN, DAVID, MORRIS Control	CHIEF OPERATING OFFICER	Less than 5%	Individual

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

CAESARS ENTERTAINMENT INC NE$276.0M +394.0%
TXNM ENERGY INC$204.7M +125.0%
GEO GROUP INC$151.9M +94.5%
ELECTRONIC ARTS INC$151.8M +5.8%
TENET HEALTHCARE CORP$119.5M +506.7%

Show all 13 →

Top Trims

AVIS BUDGET GROUP INC-$656.5M -63.9%
CORE SCIENTIFIC INC NEW-$358.1M -96.3%
STATE STR SPDR S&P 500 ETF T-$347.3M -92.1%
UNITEDHEALTH GROUP INC-$131.2M -94.7%
WARNER BROS DISCOVERY INC-$111.4M -8.1%

Show all 14 →

New Positions

Show all 29 →

Exited Positions

MASIMO CORP$564.9M
HOLOGIC INC$340.2M
ARCELLX INC$329.5M
CENTESSA PHARMACEUTICALS PLC$324.5M
NETFLIX INC.$296.9M

Show all 30 →

Loading…

#	Issuer	Symbol	CUSIP	Value	Δ

Pentwater Capital Management LP Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

#	Issuer	Symbol	CUSIP	Value	Weight	Shares	Type
1	ELECTRONIC ARTS INC	EA	285512109	$2.76B	16.90%	13,475,000	SH
2	BOEING CO	BA	097023105	$1.34B	8.21%	6,200,000	SH
3	WARNER BROS DISCOVERY INC	WBD	934423104	$1.27B	7.76%	47,576,000	SH
4	STATE STR SPDR S&P 500 ETF T Put	SPY	78462F103	$1.06B	6.50%	1,422,500	SH
5	KENVUE INC	KVUE	49177J102	$977.1M	5.98%	51,130,000	SH
6	NORFOLK SOUTHN CORP	NSC	655844108	$873.0M	5.34%	2,775,000	SH
7	BOEING CO Put	BA	097023105	$828.0M	5.06%	3,825,000	SH
8	UNITEDHEALTH GROUP INC Call	UNH	91324P102	$777.2M	4.75%	1,870,000	SH
9	ROKU INC	ROKU	77543R102	$597.5M	3.65%	4,325,000	SH
10	ECHOSTAR CORP	ECHO	278768106	$391.8M	2.40%	3,860,000	SH
11	AVIS BUDGET GROUP INC	CAR	053774105	$371.5M	2.27%	2,513,300	SH
12	TXNM ENERGY INC	TXNM	69349H107	$368.4M	2.25%	6,487,500	SH
13	TECK RESOURCES LTD	TECK	878742204	$354.4M	2.17%	5,960,000	SH
14	CAESARS ENTERTAINMENT INC NE	CZR	12769G100	$346.0M	2.12%	11,465,000	SH
15	GEO GROUP INC	GEO	36162J106	$312.7M	1.91%	10,582,000	SH
16	ORGANON & CO	OGN	68622V106	$245.1M	1.50%	18,100,000	SH
17	DOMINION ENERGY INC	D	25746U109	$239.0M	1.46%	3,500,000	SH
18	DIGITALBRIDGE GROUP INC	DBRG	25401T603	$198.8M	1.22%	12,600,000	SH
19	SURGERY PARTNERS INC	SGRY	86881A100	$195.4M	1.19%	11,630,000	SH
20	APOGEE THERAPEUTICS INC	APGE	03770N101	$189.1M	1.16%	1,425,000	SH
21	CARNIVAL CORP LTD	CCL	G2004J103	$163.0M	1.00%	5,705,000	SH
22	SILICON LABORATORIES INC	SLAB	826919102	$162.1M	0.99%	741,725	SH
23	NUVALENT INC	NUVL	670703107	$145.1M	0.89%	1,175,000	SH
24	TENET HEALTHCARE CORP	THC	88033G407	$143.1M	0.88%	765,000	SH
25	UNITEDHEALTH GROUP INC Put	UNH	91324P102	$137.9M	0.84%	331,700	SH
26	WARNER BROS DISCOVERY INC Put	WBD	934423104	$128.6M	0.79%	4,821,900	SH
27	PARAMOUNT SKYDANCE CORP	PSKY	69932A204	$118.3M	0.72%	12,000,000	SH
28	GLOBALSTAR INC	GSAT	378973507	$110.1M	0.67%	1,355,000	SH
29	SPACE EXPLORATION TECHN CORP Put	SPCX	84615Q103	$109.4M	0.67%	640,000	SH
30	PARAMOUNT SKYDANCE CORP Put	PSKY	69932A204	$98.1M	0.60%	9,950,000	SH
31	ARCOSA INC	ACA	039653100	$95.9M	0.59%	660,000	SH
32	BOEING CO Call	BA	097023105	$86.6M	0.53%	400,000	SH
33	MICRON TECHNOLOGY INC Call	MU	595112103	$85.4M	0.52%	74,000	SH
34	CARNIVAL CORP LTD Put	CCL	G2004J103	$84.3M	0.52%	2,950,000	SH
35	LIBERTY BROADBAND CORP	LBRDK	530307305	$82.9M	0.51%	2,493,644	SH
36	ECHOSTAR CORP Put	ECHO	278768106	$73.1M	0.45%	720,000	SH
37	PAYONEER GLOBAL INC	PAYO	70451X104	$70.4M	0.43%	9,888,410	SH
38	MICRON TECHNOLOGY INC Put	MU	595112103	$68.1M	0.42%	59,000	SH
39	SKYWATER TECHNOLOGY INC	SKYT	83089J108	$62.9M	0.38%	1,807,000	SH
40	HCA HEALTHCARE INC	HCA	40412C101	$50.7M	0.31%	130,000	SH
41	HUMANA INC Call	HUM	444859102	$39.7M	0.24%	100,000	SH
42	SPACE EXPLORATION TECHN CORP	SPCX	84615Q103	$39.3M	0.24%	230,000	SH
43	BIO-TECHNE CORP	TECH	09073M104	$35.3M	0.22%	500,000	SH
44	CORE SCIENTIFIC INC NEW Put	CORZ	21874A106	$33.3M	0.20%	1,300,000	SH
45	NORFOLK SOUTHN CORP Put	NSC	655844108	$32.5M	0.20%	103,300	SH
46	STATE STR SPDR S&P 500 ETF T	SPY	78462F103	$29.9M	0.18%	40,000	SH
47	INVESCO QQQ TR Put	QQQ	46090E103	$29.5M	0.18%	40,000	SH
48	IONQ INC Put	IONQ	46222L108	$28.1M	0.17%	526,800	SH
49	AXALTA COATING SYS LTD	AXTA	G0750C108	$25.9M	0.16%	756,762	SH
50	TENET HEALTHCARE CORP Put	THC	88033G407	$22.4M	0.14%	120,000	SH

Filing History

Period	Filed	AUM	Holdings	Accession
2026-06-30	2026-08-14	$16.35B	90	0001140361-26-033162
2026-03-31	2026-05-15	$19.28B	92	0001140361-26-021678
2025-12-31	2026-02-17	$19.02B	77	0001140361-26-005785
2025-09-30	2025-11-14	$17.88B	110	0001140361-25-042346

Filer Information

Address

1001 10TH AVENUE SOUTH
SUITE 216
NAPLES, FL 34102

Phone

(239) 384-9750

Filing Manager

Pentwater Capital Management LP

Naples, FL

Signatory

Joyce Kalleekal

Chief Financial Officer