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Asset Manager ← All Institutions

Pentwater Capital Management LP

Q3 2025 · Filed 2025-11-14
Market Value
$10.7B
+40.4%
Holdings
90
+12
New Purchases
31
Added To
16
Closed
31
Reduced
7
Top 10 Concentration
68.4%
Turnover
68.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CYBR 16.51% 0.00% +16.51% $1.8B
EA 9.03% 0.00% +9.03% $968M
NSC 7.70% 0.00% +7.70% $826M
VRNA 5.27% 0.00% +5.27% $566M
WBD 4.93% 0.00% +4.93% $528M
CORZ 4.06% 0.42% +3.64% $435M
DAY 3.53% 0.00% +3.53% $379M
KVUE 3.19% 0.24% +2.95% $342M
ETNB 1.61% 0.00% +1.61% $173M
AMC 1.31% 0.00% +1.31% $141M
AL 1.31% 0.00% +1.31% $140M
TECK 1.19% 0.02% +1.17% $127M
COOP 1.96% 0.90% +1.06% $210M
MRUS 0.85% 0.00% +0.85% $91M
SPY 2.48% 1.86% +0.62% $266M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HES 0.00% 13.27% -13.27% $0
JNPR 0.00% 7.45% -7.45% $0
BPMC 0.00% 6.54% -6.54% $0
SKX 0.00% 5.78% -5.78% $0
ANSS 0.00% 3.75% -3.75% $0
UNH 0.64% 3.98% -3.34% $69M
VIAC 0.00% 2.58% -2.58% $0
AMED 0.00% 2.21% -2.21% $0
ESGR 0.00% 1.94% -1.94% $0
LBRDK 1.58% 3.44% -1.86% $170M
K 7.65% 9.27% -1.63% $820M
FYBR 0.40% 1.89% -1.49% $43M
AZEK 0.00% 1.47% -1.47% $0
SPR 3.38% 4.47% -1.09% $363M
FL 0.00% 1.06% -1.06% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $336M 3.1%
Large Cap 31 $7.3B 68.3%
Mid Cap 35 $2.7B 24.9%
Small Cap 19 $390M 3.6%
Micro Cap 2 $1M 0.0%

Portfolio Analytics

Avg Market Cap
$37.0B
Median Market Cap
$7.1B
Avg P/E
54.3
Median P/E
27.5
Avg Dividend Yield
0.02%
Avg Beta
1.25
# Stocks
89
# ETFs / Funds
1

Top Holdings (90 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CYBR 16.51% 3,665,000 $1.8B $483.15 — +3,665,000 — NEW
2 EA 9.03% 4,800,000 $968M $201.70 — +4,800,000 — NEW
3 NSC 7.70% 2,750,000 $826M $300.41 — +2,750,000 — NEW
4 K 7.65% 10,000,000 $820M $82.02 $112M +1,090,000 +12.2%
5 VRNA 5.27% 5,300,000 $566M $106.71 — +5,300,000 — NEW
6 BA 5.02% 2,494,800 $538M $215.83 $109M +444,800 +21.7%
7 WBD 4.93% 27,060,000 $528M $19.53 — +27,060,000 — NEW
8 CAR 4.74% 3,163,000 $508M $160.57 $124M +893,000 +39.3%
9 CORZ 4.06% 24,250,000 $435M $17.94 $403M +22,385,000 +1200.3%
10 DAY 3.53% 5,500,000 $379M $68.89 — +5,500,000 — NEW
11 SPR 3.38% 9,400,000 $363M $38.60 $21M +450,000 +5.0%
12 KVUE 3.19% 21,080,000 $342M $16.23 $324M +20,220,000 +2351.2%
13 SPY 2.48% 400,000 $266M $666.18 $124M +170,000 +73.9%
14 SGRY 2.36% 11,681,000 $253M $21.64 $97M +4,681,000 +66.9%
15 COOP 1.96% 997,000 $210M $210.79 $141M +534,000 +115.3%
16 INFA 1.70% 7,350,000 $183M $24.84 $16M +529,000 +7.8%
17 ETNB 1.61% 11,750,000 $173M $14.70 — +11,750,000 — NEW
18 LBRDK 1.58% 2,672,000 $170M $63.54 -$93M — —
19 AMC 1.31% 48,626,044 $141M $2.90 — +48,626,044 — NEW
20 AL 1.31% 2,200,000 $140M $63.65 — +2,200,000 — NEW
21 TECK 1.19% 2,900,000 $127M $43.89 $126M +2,860,000 +7150.0%
22 BHF 1.13% 2,285,000 $121M $53.08 $70M +1,335,000 +140.5%
23 HCA 1.01% 253,400 $108M $426.20 $47M +93,400 +58.4%
24 GEO 0.99% 5,186,000 $106M $20.49 $29M +1,956,000 +60.6%
25 MRUS 0.85% 970,000 $91M $94.15 — +970,000 — NEW
26 UNH 0.64% 200,000 $69M $345.30 -$235M -775,000 -79.5%
27 TXNM 0.63% 1,190,000 $67M $56.55 $4M +64,000 +5.7%
28 NUE 0.51% 400,000 $54M $135.43 -$3M -45,000 -10.1%
29 SATS 0.46% 640,000 $49M $76.36 — +640,000 — NEW
30 TGNA 0.44% 2,326,300 $47M $20.33 — +2,326,300 — NEW
31 VMEO 0.43% 6,009,500 $47M $7.75 — +6,009,500 — NEW
32 WGS 0.43% 425,000 $46M $107.74 -$67M -795,000 -65.2%
33 FYBR 0.40% 1,152,000 $43M $37.35 -$101M -2,818,000 -71.0%
34 VBTX 0.37% 1,170,000 $39M $33.53 — +1,170,000 — NEW
35 THC 0.21% 110,000 $22M $203.04 — +110,000 — NEW
36 CYTK 0.15% 300,000 $16M $54.96 $7M — —
37 PSKY 0.15% 855,020 $16M $18.92 — +855,020 — NEW
38 IE 0.15% 1,250,000 $16M $12.55 -$8M -1,345,000 -51.8%
39 PGRE 0.12% 2,001,400 $13M $6.54 — +2,001,400 — NEW
40 SHCO 0.12% 1,476,000 $13M $8.85 — +1,476,000 — NEW
41 LBRDA 0.10% 170,000 $11M $63.33 -$6M — —
42 PRO 0.05% 250,000 $6M $22.91 — +250,000 — NEW
43 BATRK 0.03% 90,000 $4M $41.59 -$466K — —
44 SIRI 0.03% 125,000 $3M $23.28 -$2M -100,000 -44.4%
45 PRTC 0.01% 75,000 $1M $18.50 $525K +25,000 +50.0%
46 CNM 0.01% 25,000 $1M $53.83 — +25,000 — NEW
47 HOUS 0.01% 120,000 $1M $10.59 — +120,000 — NEW
48 VRNT 0.01% 60,000 $1M $20.25 — +60,000 — NEW
49 TELA 0.01% 724,856 $1M $1.49 -$501K -90,144 -11.1%
50 RBRK 0.01% 11,500 $946K $82.25 — +11,500 — NEW
51 FIG 0.01% 16,000 $830K $51.87 — +16,000 — NEW
52 KDP 0.01% 25,000 $638K $25.51 — +25,000 — NEW
53 ESPR —% 181,290 $480K $2.65 $302K — —
54 WYFI —% 13,000 $353K $27.17 — +13,000 — NEW
55 GEMI —% 13,000 $311K $23.96 — +13,000 — NEW
56 NAK —% 200,000 $240K $1.20 — +200,000 — NEW
57 RKT —% 8,000 $155K $19.38 — +8,000 — NEW
58 MGRM —% 10,000 $59K $5.87 — +10,000 — NEW
59 SNPS —% 103 $51K $493.39 — +103 — NEW
60 AMED —% — — — -$169M -1,715,084 -100.0% SOLD
61 SOC —% — — — -$220K -10,000 -100.0% SOLD
62 OMDA —% — — — -$454K -24,800 -100.0% SOLD
63 GMS —% — — — -$44M -400,000 -100.0% SOLD
64 WBA —% — — — -$30M -2,600,000 -100.0% SOLD
65 VG —% — — — -$390K -25,000 -100.0% SOLD
66 VOYG —% — — — -$981K -25,000 -100.0% SOLD
67 VVX —% — — — -$728K -15,000 -100.0% SOLD
68 VERV —% — — — -$75M -6,720,000 -100.0% SOLD
69 JNPR —% — — — -$569M -14,250,000 -100.0% SOLD
70 PARAA —% — — — -$1M -61,938 -100.0% SOLD
71 IPG —% — — — -$63M -2,557,000 -100.0% SOLD
72 FL —% — — — -$81M -3,300,000 -100.0% SOLD
73 INTC —% — — — -$896K -40,000 -100.0% SOLD
74 DNB —% — — — -$74M -8,150,000 -100.0% SOLD
75 ANSS —% — — — -$286M -815,000 -100.0% SOLD
76 STR —% — — — -$14M -773,000 -100.0% SOLD
77 VIAC —% — — — -$197M -15,300,000 -100.0% SOLD
78 BPMC —% — — — -$500M -3,900,000 -100.0% SOLD
79 HOLX —% — — — -$652K -10,000 -100.0% SOLD
80 SWTX —% — — — -$47M -1,000,000 -100.0% SOLD
81 SKX —% — — — -$442M -7,000,000 -100.0% SOLD
82 AZEK —% — — — -$112M -2,066,000 -100.0% SOLD
83 TGI —% — — — -$39M -1,500,000 -100.0% SOLD
84 TMUS —% — — — -$1M -5,000 -100.0% SOLD
85 ESGR —% — — — -$148M -441,100 -100.0% SOLD
86 CCK —% — — — -$3M -27,979 -100.0% SOLD
87 HES —% — — — -$1.0B -7,320,000 -100.0% SOLD
88 AHL —% — — — -$629K -20,000 -100.0% SOLD
89 STLD —% — — — -$78M -610,000 -100.0% SOLD
90 TIC —% — — — -$3M -271,749 -100.0% SOLD

Options Breakdown

20 Calls $1.6B Call Value 32 Puts $5.1B Put Value 3.27 P/C Ratio

Top Calls

SymbolSharesValueStatus
UNH 3,375,000 $1.2B
PANW 820,000 $167M NEW
SNPS 90,000 $44M
RKT 2,200,000 $43M NEW
KVUE 2,500,000 $41M NEW
WBD 1,850,000 $36M NEW
CORZ 1,800,000 $32M NEW
CAR 70,000 $11M
CRWV 50,000 $7M NEW
WGS 20,000 $2M

Top Puts

SymbolSharesValueStatus
SPY 3,120,000 $2.1B
BA 4,400,000 $950M
CAR 4,406,300 $708M
CRWV 2,275,000 $311M NEW
KVUE 10,100,000 $164M
SNPS 300,000 $148M NEW
BHF 2,085,000 $111M
PANW 500,000 $102M NEW
UNP 390,000 $92M NEW
CVX 500,000 $78M

New Positions

SymbolValue% Port
CYBR $1.8B 16.51%
EA $968M 9.03%
NSC $826M 7.70%
VRNA $566M 5.27%
WBD $528M 4.93%
DAY $379M 3.53%
ETNB $173M 1.61%
AMC $141M 1.31%
AL $140M 1.31%
MRUS $91M 0.85%
SATS $49M 0.46%
TGNA $47M 0.44%
VMEO $47M 0.43%
VBTX $39M 0.37%
THC $22M 0.21%

Sold Out Positions

SymbolValue% Port
VVX — —%
VOYG — —%
VG — —%
CCK — —%
SOC — —%
TIC — —%
INTC — —%
TMUS — —%
OMDA — —%
STLD — —%
ANSS — —%
AZEK — —%
BPMC — —%
ESGR — —%
GMS — —%
View SEC EDGAR Filings for Pentwater Capital Management LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms