Q4 2025 · 13F-HR
Pentwater Capital Management LPholdings as filed
Filed 2026-02-17 · accession 0001140361-26-005785
$19.02B
Reported value
77
Positions
2025-12-31
Period end
The Brief · Pentwater Capital Management LP · Q4 2025
AI · grounded in 13F
Pentwater Capital Management LP closed its position in Kellanova K, reducing exposure by $820.2M. The fund established a new position in Exact Sciences Corp EXK valued at $736.3M and exited its holdings in Verona Pharma PLC VRNA for $565.6M. Other notable activity includes increasing shares of Electronic Arts Inc EA by 128.1% and Boeing Co BA by 75.4%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 285512109 | EA | ELECTRONIC ARTS INC | $2.24B | 11.8% | 10,950,000 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $1.56B | 8.19% | 2,285,000 | PUT | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $1.53B | 8.03% | 3,425,000 | Common | SOLE |
| 097023105 | BA | BOEING CO | $1.44B | 7.54% | 6,610,000 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $1.33B | 6.98% | 46,075,000 | Common | SOLE |
| 097023105 | BA | BOEING CO | $1.19B | 6.26% | 5,485,000 | PUT | SOLE |
| 49177J102 | KVUE | KENVUE INC | $978.4M | 5.14% | 56,720,600 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $935.9M | 4.92% | 2,835,000 | CALL | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $871.6M | 4.58% | 3,019,000 | Common | SOLE |
| 30063P105 | EXK | EXACT SCIENCES CORP | $736.3M | 3.87% | 7,250,000 | Common | SOLE |
| 15677J108 | DAY | DAYFORCE INC | $657.0M | 3.45% | 9,500,000 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $434.7M | 2.29% | 6,026,500 | Common | SOLE |
| 053774105 | CAR | AVIS BUDGET GROUP | $398.0M | 2.09% | 3,101,400 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $373.0M | 1.96% | 25,615,000 | Common | SOLE |
| 494368103 | KMB | KIMBERLY-CLARK CORP | $345.0M | 1.81% | 3,420,000 | CALL | SOLE |
| 436440101 | HO1 | HOLOGIC INC | $316.4M | 1.66% | 4,247,500 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $311.3M | 1.64% | 6,500,000 | Common | SOLE |
| 12740C103 | CADE | CADENCE BANK | $266.9M | 1.40% | 6,230,000 | Common | SOLE |
| 25401T603 | DBRG | DIGITALBRIDGE GROUP INC | $176.4M | 0.93% | 11,500,000 | Common | SOLE |
| 200340107 | CMA | COMERICA INC | $173.9M | 0.91% | 2,000,000 | Common | SOLE |
| 03152W109 | AM6 | AMICUS THERAPEUTICS INC | $163.8M | 0.86% | 11,500,000 | Common | SOLE |
| 86881A100 | SGRY | SURGERY PARTNERS INC | $154.5M | 0.81% | 10,000,000 | Common | SOLE |
| 053774105 | CAR | AVIS BUDGET GROUP | $149.3M | 0.79% | 1,163,800 | PUT | SOLE |
| 00912X302 | AL | AIR LEASE CORP | $143.9M | 0.76% | 2,240,000 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INC | $140.9M | 0.74% | 300,000 | PUT | SOLE |
| 143658300 | CCL1EUR | CARNIVAL CORP | $133.6M | 0.70% | 4,375,000 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $132.0M | 0.69% | 7,650,000 | PUT | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $130.4M | 0.69% | 395,000 | Common | SOLE |
| 171757206 | CDTX | CIDARA THERAPEUTICS INC | $124.8M | 0.66% | 565,000 | Common | SOLE |
| 530307305 | LBRDK | LIBERTY BROADBAND CORP | $121.2M | 0.64% | 2,493,644 | Common | SOLE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $105.0M | 0.55% | 570,000 | CALL | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $101.4M | 0.53% | 3,520,000 | PUT | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $97.2M | 0.51% | 1,651,000 | Common | SOLE |
| 36162J106 | GEO | GEO GROUP INC NEW | $94.3M | 0.50% | 5,847,700 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $82.1M | 0.43% | 2,850,000 | CALL | SOLE |
| 143658300 | CCL1EUR | CARNIVAL CORP | $80.9M | 0.43% | 2,650,000 | PUT | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $77.4M | 0.41% | 711,700 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $70.7M | 0.37% | 4,100,000 | CALL | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $62.7M | 0.33% | 2,600,000 | Common | SOLE |
| 697435105 | PANW | PALO ALTO NETWORKS INC | $57.1M | 0.30% | 310,000 | PUT | SOLE |
| 431571108 | 9HI | HILLENBRAND INC | $57.1M | 0.30% | 1,800,000 | Common | SOLE |
| 69932A204 | PSKY | PARAMOUNT SKYDANCE CORP | $49.6M | 0.26% | 3,700,000 | PUT | SOLE |
| 69932A204 | PSKY | PARAMOUNT SKYDANCE CORP | $46.2M | 0.24% | 3,450,500 | Common | SOLE |
| 871607107 | SNPS | SYNOPSYS INC | $42.3M | 0.22% | 90,000 | CALL | SOLE |
| G29687103 | AVDL | AVADEL PHARMACEUTICALS PLC | $36.3M | 0.19% | 1,684,000 | Common | SOLE |
| 87901J105 | TGNA | TEGNA INC | $34.0M | 0.18% | 1,750,000 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $33.9M | 0.18% | 2,325,000 | CALL | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $33.8M | 0.18% | 360,000 | PUT | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $30.0M | 0.16% | 320,000 | Common | SOLE |
| 72346Q104 | — | PINNACLE FINL PARTNERS INC | $28.6M | 0.15% | 300,000 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $20.4M | 0.11% | 1,400,000 | PUT | SOLE |
| 586001109 | 75Z | SOHO HOUSE & CO INC | $13.2M | 0.07% | 1,476,000 | Common | SOLE |
| 21873S108 | CRWV | COREWEAVE INC | $12.2M | 0.06% | 170,000 | PUT | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $11.7M | 0.06% | 125,000 | CALL | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $10.9M | 0.06% | 100,000 | PUT | SOLE |
| 16119P108 | CHTR | CHARTER COMMUNICATIONS INC N | $10.4M | 0.05% | 50,000 | PUT | SOLE |
| 053774105 | CAR | AVIS BUDGET GROUP | $9.0M | 0.05% | 70,000 | CALL | SOLE |
| 21873S108 | CRWV | COREWEAVE INC | $8.6M | 0.05% | 120,000 | Common | SOLE |
| 530307107 | LBRDA | LIBERTY BROADBAND CORP | $8.2M | 0.04% | 170,000 | Common | SOLE |
| 36472T109 | TDAY | USA TODAY CO INC | $7.2M | 0.04% | 1,400,000 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $6.8M | 0.04% | 10,000 | Common | SOLE |
| 81663L200 | WGS | GENEDX HOLDINGS CORP | $6.5M | 0.03% | 50,000 | PUT | SOLE |
| 81663L200 | WGS | GENEDX HOLDINGS CORP | $6.5M | 0.03% | 50,000 | Common | SOLE |
| 75605Y106 | — | ANYWHERE REAL ESTATE INC | $5.0M | 0.03% | 350,000 | Common | SOLE |
| 74366E102 | PTGX | PROTAGONIST THERAPEUTICS INC | $4.4M | 0.02% | 50,000 | Common | SOLE |
| 36162J106 | GEO | GEO GROUP INC NEW | $4.0M | 0.02% | 250,000 | PUT | SOLE |
| 047726302 | BATRK | ATLANTA BRAVES HLDGS INC | $3.6M | 0.02% | 90,000 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $2.4M | 0.01% | 12,500 | CALL | SOLE |
| 746237106 | PRTCY | PURETECH HEALTH PLC | $1.2M | 0.01% | 70,000 | Common | SOLE |
| 49271V100 | KDP | KEURIG DR PEPPER INC | $700,250 | 0.00% | 25,000 | PUT | SOLE |
| 314911108 | FRMI | FERMI INC | $600,000 | 0.00% | 75,000 | Common | SOLE |
| G1466R173 | BORR | BORR DRILLING LTD | $302,250 | 0.00% | 75,000 | Common | SOLE |
| 820014405 | SBET | SHARPLINK GAMING INC | $178,800 | 0.00% | 20,000 | Common | SOLE |
| 820014405 | SBET | SHARPLINK GAMING INC | $178,800 | 0.00% | 20,000 | PUT | SOLE |
| G96115103 | WYFI | WHITEFIBER INC | $158,000 | 0.00% | 10,000 | CALL | SOLE |
| G96115103 | WYFI | WHITEFIBER INC | $158,000 | 0.00% | 10,000 | Common | SOLE |
| 00165C302 | AMC | AMC ENTMT HLDGS INC | $156,000 | 0.00% | 100,000 | PUT | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.