Pentwater Capital Management LP
SEC Form 13F institutional filer · CIK 0001425851
13F-HR · 17 reported holdings · 2026-03-31
Hedge fund manager.
Reported long-US-equity value
$6.04B
Top-10 concentration
97.7%
Pentwater Capital Management LP — $6.04B AUM allocation strategy
Pentwater Capital Management LP files SEC Form 13F and reports $6.04B of long US equity value across 17 reported holdings for 2026-03-31.
Its largest sector bet is Industrials 39.4%, followed by Communication Services 32.9% and Consumer Staples 14.8%.
The top 10 holdings account for 98% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Pentwater Capital Management LP — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$6.04B
total across 17 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
98% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$WBD +4.17M sh · +$51.8M+$NFLX +2.77M sh · +$267M+$CCL +1.69M sh · +$23.2M
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Aerospace & Defense23.3%—
- Broadcasting22.8%—
- Rail Transportation15.3%—
- Personal Care Products14.8%—
- Movies & Entertainment5.5%—
- Wireless Telecommunication Services4.6%—
- Hotels, Resorts & Cruise Lines2.6%—
- Managed Health Care2.3%—
- Other holdings8.8%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
9 of 9 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $BA | Boeing Company | 7.07M | $1.41B | +460K | 23.3% |
| $WBD | Warner Bros. Discovery Inc. Series A | 50.2M | $1.38B | +4.17M | 22.8% |
| $NSC | Norfolk Southern Corporation | 3.22M | $924M | +201K | 15.3% |
| $KVUE | Kenvue Inc | 52M | $896M | -4.72M | 14.8% |
| $NFLX | Netflix Inc | 3.09M | $297M | +2.77M | 4.9% |
| $ECHO | EchoStar Corporation | 2.36M | $276M | +1.65M | 4.6% |
| $CCL | Carnival Corporation Ltd | 6.06M | $157M | +1.69M | 2.6% |
| $UNH | UnitedHealth Group Incorporated | 512K | $139M | +117K | 2.3% |
| $UAL | United Airlines Holdings Inc | 500K | $46M | — | 0.8% |
…and 8 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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