PENTWATER CAPITAL MANAGEMENT LP
Q1 2025 Form 13-F
NAPLES, FLORIDA
CIK 0001425851
· CRD 156873
· SEC-registered investment adviser
$11.9B Reported Value Total
PENTWATER CAPITAL MANAGEMENT LP reports 24 total accounts under management (AUM). There are 24 discretionary accounts valued at $9,348,331,000, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
16 funds
· $22.0B gross asset value
Hedge Fund: $22.0B
Source: Form ADV filed 2026-03-31
Reported value
$11.9B
Quarter over quarter
+5.8%
Holdings
62
Top-10 concentration
66.6%
Key People
Form ADV owners & control persons
Matthew Charles Halbower
SHAREHOLDER
Joyce Kalleekal
CHIEF FINANCIAL OFFICER
Hooman David Tavakolian
CHIEF COMPLIANCE OFFICER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q1 2025 13F record
Q1 2025 13F filing summary
| Period of report | March 31, 2025 |
|---|---|
| Filed | May 15, 2025 |
| Form | 13F-HR |
| Reported value | $11.9B |
| Positions | 62 |
| Change in reported value | +31.5% |
| New positions | 29 |
| Exited positions | 21 |
| Position turnover | 60.2% |
| Top-10 concentration | 66.6% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
59 | $16.4B |
|
Q1 2026 13F
Filed May 15, 2026
|
60 | $19.3B |
|
Q4 2025 13F
Filed Feb 17, 2026
|
47 | $19.0B |
|
Q3 2025 13F
Filed Nov 14, 2025
|
65 | $17.9B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
63 | $15.4B |
|
Q1 2025 13F
Filed May 15, 2025
|
62 | $11.9B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
54 | $9.1B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
51 | $9.7B |
|
Q2 2024 13F
Filed Jul 31, 2024
|
51 | $7.8B |
|
Q1 2024 13F
Filed May 15, 2024
|
54 | $9.8B |
|
Q4 2023 13F
Filed Feb 14, 2024
|
66 | $8.9B |
|
Q3 2023 13F
Filed Nov 14, 2023
|
67 | $18.6B |
|
Q2 2023 13F
Filed Aug 14, 2023
|
84 | $14.5B |
|
Q1 2023 13F
Filed May 15, 2023
|
91 | $10.3B |
|
Q4 2022 13F
Filed Feb 14, 2023
|
77 | $5.7B |
|
Q3 2022 13F
Filed Nov 14, 2022
|
95 | $8.9B |
|
Q2 2022 13F
Filed Aug 15, 2022
|
112 | $8.5B |
|
Q1 2022 13F
Filed May 16, 2022
|
118 | $8.4B |
|
Q4 2021 13F
Filed Feb 11, 2022
|
154 | $9.2B |
|
Q3 2021 13F
Filed Nov 15, 2021
|
180 | $9.8B |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q1 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | SPY P SPDR S&P 500 ETF TR | $2.5B | 20.97% |
| 2 | HES HESS CORP | $929.6M | 7.8% |
| 3 | X UNITED STATES STL CORP NEW | $814.4M | 6.84% |
| 4 | ITCI INTRA-CELLULAR THERAPIES INC | $684.7M | 5.75% |
| 5 | K KELLANOVA | $659.9M | 5.54% |
| 6 | BA BOEING CO | $558.6M | 4.69% |
| 7 | BA P BOEING CO | $515.6M | 4.33% |
| 8 | JNPR JUNIPER NETWORKS INC | $463.2M | 3.89% |
| 9 | HES P HESS CORP | $439.3M | 3.69% |
| 10 | X P UNITED STATES STL CORP NEW | $366.3M | 3.08% |
| 11 | SPY SPDR S&P 500 ETF TR | $335.6M | 2.82% |
| 12 | SPR SPIRIT AEROSYSTEMS HLDGS INC | $321.5M | 2.7% |
| 13 | ANSS ANSYS INC | $212.1M | 1.78% |
| 14 | CVX P CHEVRON CORP NEW | $184.0M | 1.54% |
| 15 | CAR AVIS BUDGET GROUP | $176.1M | 1.48% |
| 16 | NUE NUCOR CORP | $171.5M | 1.44% |
| 17 | FYBR FRONTIER COMMUNICATIONS PARE | $161.4M | 1.35% |
| 18 | HEES H & E EQUIPMENT SERVICES INC | $156.4M | 1.31% |
| 19 | PARA PARAMOUNT GLOBAL | $144.7M | 1.21% |
| 20 | AMED AMEDISYS INC | $124.6M | 1.05% |
Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.