Pentwater Capital Management LP
CIK 1425851 · Holdings on Dec 31, 2025 · First reported Feb 17, 2026
Top ten holdings
Q4 2025- EA16.19%
- CYBR11.05%
- BA10.38%
- WBD9.61%
- KVUE7.08%
- NSC6.31%
- EXK5.33%
- DAY4.75%
- RNA3.14%
- CAR2.88%
Share classes counted separately76.72%
Portfolio value by quarter
What changed this quarter?
Within preview · weight change- EAWeight increased · +7.50 pp8.69% → 16.19%Shares +6.15M (+128.13%)
- BAWeight increased · +5.55 pp4.83% → 10.38%Shares +4.12M (+164.95%)
- WBDWeight increased · +4.87 pp4.74% → 9.61%Shares +19.02M (+70.27%)
Weight = security value ÷ total reported holdings value. Changes are in percentage points; price moves also affect weights, so they are not trade sizes.
Top 10 holdings 25
USD · B = billion · M = million; expand a row for exact values| # | Security | Value | Weight | Quantity | Weight / quantity change | Activity | |
|---|---|---|---|---|---|---|---|
| 01 | EAELECTRONIC ARTS INC View history and evidence | $2.24B | 16.19% | 10.95M shares | 8.69% → 16.19%+7.50 pp +6.15M (+128.13%) | Added | ↗▾ |
| 02 | CYBRCYBERARK SOFTWARE LTD/ISRAELSHS View history and evidence | $1.53B | 11.05% | 3.42M shares | 15.90% → 11.05%-4.85 pp -240.00K (-6.55%) | Reduced | ↗▾ |
| 03 | BABOEING CO/THE View history and evidence | $1.44B | 10.38% | 6.61M shares | 4.83% → 10.38%+5.55 pp +4.12M (+164.95%) | Added | ↗▾ |
| 04 | WBDWARNER BROS DISCOVERY INCCOM SER A View history and evidence | $1.33B | 9.61% | 46.08M shares | 4.74% → 9.61%+4.87 pp +19.02M (+70.27%) | Added | ↗▾ |
| 05 | KVUEKENVUE INC View history and evidence | $978.43M | 7.08% | 56.72M shares | 3.07% → 7.08%+4.01 pp +35.64M (+169.07%) | Added | ↗▾ |
| 06 | NSCNORFOLK SOUTHERN CORP View history and evidence | $871.65M | 6.31% | 3.02M shares | 7.42% → 6.31%-1.11 pp +269.00K (+9.78%) | Added | ↗▾ |
| 07 | EXKEXACT SCIENCES CORP View history and evidence | $736.31M | 5.33% | 7.25M shares | Prior unavailable +7.25M | New | ↗▾ |
| 08 | DAYDAYFORCE INC View history and evidence | $657.02M | 4.75% | 9.50M shares | 3.40% → 4.75%+1.35 pp +4.00M (+72.73%) | Added | ↗▾ |
| 09 | RNAAVIDITY BIOSCIENCES INC View history and evidence | $434.69M | 3.14% | 6.03M shares | Prior unavailable +6.03M | New | ↗▾ |
| 10 | CARAVIS BUDGET GROUP INC View history and evidence | $397.97M | 2.88% | 3.10M shares | 4.56% → 2.88%-1.68 pp -61.60K (-1.95%) | Reduced | ↗▾ |
Options overlay 30
$5.20B notionalPut and Call positions are separate. Notional is based on underlying securities, not option premium, market value or net exposure. Quantities are underlying shares.
| Security | Put / Call | Underlying shares | Notional | Quantity change | |
|---|---|---|---|---|---|
SPYSS SPDR S&P 500 ETF TRUST-USTR UNIT View history and evidence | Put | 2.29M | $1.56B | -835.00K (-26.76%) | ▾ |
BABOEING CO/THE View history and evidence | Put | 5.49M | $1.19B | +1.08M (+24.66%) | ▾ |
UNHUNITEDHEALTH GROUP INC View history and evidence | Call | 2.83M | $935.86M | -540.00K (-16.00%) | ▾ |
3 / 30 options · preview only
Exited positions 59
| Security | Type | Shares out | Value out | Previous filing | This filing |
|---|---|---|---|---|---|
| KEL KELLANOVA | Non-derivative | -10,000,000 | -$820.20M | SEC filing ↗ | SEC filing ↗ |
| VRNA VERONA PHARMA PLC - ADR | Non-derivative | -5,300,000 | -$565.56M | SEC filing ↗ | SEC filing ↗ |
| 848574109 SPIRIT AEROSYSTEMS HOLD-CL A | Non-derivative | -9,400,000 | -$362.84M | SEC filing ↗ | SEC filing ↗ |
3 / 59 preview exits. Up to 30 exit records are previewed. Exit means absent from the current filing; execution date, price and proceeds are unknown.
Every number has a source.
CIK 1425851 · Period 2025-12-31
Data loaded 2026-09-23 · First reported 2026-02-17
Amendments and versions
{
"amendments_merged": null,
"prior_versions": null,
"cover_table_value": 19021557491
}Research all 77 reported holdings.
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