Pentwater Capital Management LP In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 31, 2024), Pentwater Capital Management LP reported 51 stock positions worth $4.6 billion . Its top holding was United States Steel (X) at 16.6% of the portfolio, followed by Hess (HES, 14.0% ) and Boeing (BA, 9.9% ). Compared with Q1 2024, it opened 18 new positions, sold out of 20, added to 16 and reduced 14. The biggest buy was Endeavor Group Hold Class A (EDR, shares +457% ) and the biggest sale an exit from Pioneer Natural Resources (PXD).
Location Naples, FL
CIK 0001425851
Portfolio Value $4.6B (Q2 2024) Holdings 51 stocks · $4.6B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2024 X United States Steel Corp. 20,210,000 $763.9M Add +20.5% HES Hess Corp. 4,380,000 $646.1M Reduce -3.5% BA The Boeing Co. 2,516,500 $458.0M Add +19.7% EDR Endeavor Group Hold Class A 13,200,000 $356.8M Add +457.0% JNPR Juniper Networks Inc. 8,875,000 $323.6M Reduce -15.1% SPR Spirit Aerosystems Hold Class A 9,016,000 $296.4M New HUBS HubSpot Inc. 470,000 $277.2M New SPY SS SPDR S&P 500 ETF Trust-US 458,400 $249.5M Add +6.0% WRK Westrock Co. 3,010,000 $151.3M Add +22.6% ANSS Ansys Inc. 420,000 $135.0M Reduce -49.6% HCP Hashicorp Inc. Class A 2,720,500 $91.7M New SRCL Stericycle Inc. 1,428,000 $83.0M New CERE Cerevel Therapeutics Holding 1,878,719 $76.8M Reduce -15.4% CCK Crown Holdings Inc. 1,000,000 $74.4M Add +358.7% VZIO Vizio Holding Corp. Class A 6,800,000 $73.4M Add +1294.9% AMED Amedisys Inc. 781,259 $71.7M Add +22.1% CPRI Capri Holdings Ltd. 1,980,000 $65.5M Reduce -37.3% NVEI Nuvei Corp.-Subordinate VTG 2,000,000 $64.8M Add +1233.3% CYTK Cytokinetics Inc. 1,119,000 $60.6M Add +3.6% COF Capital One Financial Corp. 245,000 $33.9M New MRO Marathon Oil Corp. 1,050,000 $30.1M New LSXMA Liberty Media Corp. Class A New 1,250,000 $27.7M No change IE Ivanhoe Electric Inc. / US 2,771,000 $26.0M Reduce -6.1% PWSC Powerschool Holdings Inc. Class A 1,007,000 $22.5M New PRFT Perficient Inc. 300,000 $22.4M New ETRN Equitrans Midstream Corp. 1,420,000 $18.4M Add +1.4% CAR Avis Budget Group Inc. 170,000 $17.8M Add +150.0% PSTX Poseida Therapeutics Inc. 5,975,000 $17.4M No change LSXMK Liberty Media Corp.-Liber-New 785,000 $17.4M Add +7.5% HTZ Hertz Global Hldgs Inc. 2,150,100 $7.6M Reduce -69.0% NATL NCR Atleos Corp. 250,000 $6.8M Reduce -78.3% AXONICS INC 100,000 $6.7M Reduce -33.5% TECK Teck Resources Ltd.-CLS B 140,000 $6.7M Reduce -46.1% DOYU Douyu International Hold-ADR 382,666 $4.2M Reduce -18.6% DJT Trump Media & Technology Gro 126,000 $4.1M Add +322.9% EVBG Everbridge Inc. 101,390 $3.5M New LYV Live Nation Entertainment Inc. 35,000 $3.3M New CCL Carnival Corp. 140,000 $2.6M New RCM R1 RCM Inc. 200,000 $2.5M New NWLI National Western Life Grou-A 5,000 $2.5M New ACI Albertsons Cos Inc. Class A 100,000 $2.0M Reduce -85.3% TELA Tela Bio Inc. 400,000 $1.9M Add +29.6% AVGO Broadcom Inc. 1,000 $1.6M Reduce -80.0% AMD Advanced Micro Devices 9,000 $1.5M Add +28.6% RBRK Rubrik Inc. Class A 30,000 $920K New NVDA Nvidia Corp. 5,000 $618K New IMCR Immunocore Holdings PLC-ADR 15,000 $508K No change PRTCY Puretech Health PLC - ADR 16,193 $405K Reduce -4.8% ESPR Esperion Therapeutics Inc. 181,290 $402K New WKME Walkme Ltd. 18,000 $251K New SIRI Sirius XM Holdings Inc. 2,200 $6K New
Options reported separately and not counted above: SPY puts ($1.4B), X puts ($511.9M), BA puts ($272.1M), HUBS puts ($170.4M), HES puts ($115.1M), CPRI puts ($100.9M), BA calls ($85.5M), SNPS puts ($80.3M), CVX calls ($70.4M), GOOG calls ($64.2M), AMED puts ($59.8M), CYTK puts ($49.9M), and 29 more.
Other holdings (2): bonds, preferreds, convertibles and warrants · $10.2M (not counted above) Total filed on the 13F, all lines: $4.6B.
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ PXD Pioneer Natural Resources Co. Sold out 0.00% −31.28 TCN Tricon Residential Inc. Sold out 0.00% −3.68 DFS Discover Financial Services Sold out 0.00% −3.35 ANSS Ansys Inc. Reduce -49.6% 2.93% −1.85 FUSN Fusion Pharmaceuticals Inc. Sold out 0.00% −1.33 SP SP Plus Corp. Sold out 0.00% −1.13 CPRI Capri Holdings Ltd. Reduce -37.3% 1.42% −0.94 HTZ Hertz Global Hldgs Inc. Reduce -69.0% 0.16% −0.73 ERF Enerplus Corp. Sold out 0.00% −0.42 OLK Olink Holding AB - ADR Sold out 0.00% −0.25 NATL NCR Atleos Corp. Reduce -78.3% 0.15% −0.23 ACI Albertsons Cos Inc. Class A Reduce -85.3% 0.04% −0.20 AVGO Broadcom Inc. Reduce -80.0% 0.03% −0.07 BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.07 TECK Teck Resources Ltd.-CLS B Reduce -46.1% 0.15% −0.05 NGMS Neogames SA Sold out 0.00% −0.05 GEHC GE Healthcare Technology Sold out 0.00% −0.04 QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.04 ODD Oddity Tech Ltd. Class A Sold out 0.00% −0.03 AXONICS INC Reduce -33.5% 0.15% −0.03 VYX NCR Voyix Corp. Sold out 0.00% −0.02 MDGL Madrigal Pharmaceuticals Inc. Sold out 0.00% −0.02 PNW Pinnacle West Capital Sold out 0.00% −0.01 EXE Expand Energy Corp. Sold out 0.00% −0.01 RENALYTIX AI PLC-ADR Sold out 0.00% −0.01 BWMN Bowman Consulting Group Ltd. Sold out 0.00% −0.01 MBLY Mobileye Global Inc. Class A Sold out 0.00% −0.00 IRBTQ Irobot Corp. Sold out 0.00% −0.00 PRTCY Puretech Health PLC - ADR Reduce -4.8% 0.01% +0.00 DOYU Douyu International Hold-ADR Reduce -18.6% 0.09% +0.04 IE Ivanhoe Electric Inc. / US Reduce -6.1% 0.56% +0.09 CERE Cerevel Therapeutics Holding Reduce -15.4% 1.66% +0.12 JNPR Juniper Networks Inc. Reduce -15.1% 7.01% +0.62 HES Hess Corp. Reduce -3.5% 14.00% +2.57
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ EDR Endeavor Group Hold Class A Add +457.0% 7.73% +6.73 SPR Spirit Aerosystems Hold Class A New 6.42% +6.42 HUBS HubSpot Inc. New 6.01% +6.01 X United States Steel Corp. Add +20.5% 16.56% +5.27 BA The Boeing Co. Add +19.7% 9.93% +3.23 HCP Hashicorp Inc. Class A New 1.99% +1.99 SRCL Stericycle Inc. New 1.80% +1.80 SPY SS SPDR S&P 500 ETF Trust-US Add +6.0% 5.41% +1.67 VZIO Vizio Holding Corp. Class A Add +1294.9% 1.59% +1.50 CCK Crown Holdings Inc. Add +358.7% 1.61% +1.33 NVEI Nuvei Corp.-Subordinate VTG Add +1233.3% 1.40% +1.33 WRK Westrock Co. Add +22.6% 3.28% +1.27 COF Capital One Financial Corp. New 0.74% +0.74 MRO Marathon Oil Corp. New 0.65% +0.65 AMED Amedisys Inc. Add +22.1% 1.55% +0.58 PWSC Powerschool Holdings Inc. Class A New 0.49% +0.49 PRFT Perficient Inc. New 0.49% +0.49 CAR Avis Budget Group Inc. Add +150.0% 0.39% +0.25 ETRN Equitrans Midstream Corp. Add +1.4% 0.40% +0.11 EVBG Everbridge Inc. New 0.08% +0.08 LYV Live Nation Entertainment Inc. New 0.07% +0.07 CYTK Cytokinetics Inc. Add +3.6% 1.31% +0.06 DJT Trump Media & Technology Gro Add +322.9% 0.09% +0.06 CCL Carnival Corp. New 0.06% +0.06 RCM R1 RCM Inc. New 0.05% +0.05 NWLI National Western Life Grou-A New 0.05% +0.05 RBRK Rubrik Inc. Class A New 0.02% +0.02 LSXMK Liberty Media Corp.-Liber-New Add +7.5% 0.38% +0.02 NVDA Nvidia Corp. New 0.01% +0.01 TELA Tela Bio Inc. Add +29.6% 0.04% +0.01 AMD Advanced Micro Devices Add +28.6% 0.03% +0.01 ESPR Esperion Therapeutics Inc. New 0.01% +0.01 WKME Walkme Ltd. New 0.01% +0.01 SIRI Sirius XM Holdings Inc. New 0.00% +0.00
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -4.4% 2,505,000 $1.4B X United States Steel Corp. put Reduce -25.6% 13,541,900 $511.9M BA The Boeing Co. put Add +116.7% 1,495,000 $272.1M HUBS HubSpot Inc. put New 289,000 $170.4M HES Hess Corp. put Reduce -75.3% 780,000 $115.1M XOM Exxon Mobil Corp. call Sold out 970,000 $112.8Mbefore exit CPRI Capri Holdings Ltd. put Reduce -20.8% 3,050,900 $100.9M BA The Boeing Co. call Add +42.4% 470,000 $85.5M SNPS Synopsys Inc. put Add +1250.0% 135,000 $80.3M CVX Chevron Corp. call Reduce -64.0% 450,000 $70.4M GOOG Alphabet Inc. Class C call New 350,000 $64.2M COF Capital One Financial Corp. put New 235,000 $32.5M CCK Crown Holdings Inc. put New 380,000 $28.3M DJT Trump Media & Technology Gro put Sold out 428,000 $26.5Mbefore exit HTZ Hertz Global Hldgs Inc. put Sold out 3,044,700 $23.8Mbefore exit QQQ Invesco QQQ Trust Series 1 put Sold out 45,000 $20.0Mbefore exit GOOG Alphabet Inc. Class C put New 100,000 $18.3M CERE Cerevel Therapeutics Holding put New 400,000 $16.4M CVX Chevron Corp. put Add +100.0% 100,000 $15.6M CYTK Cytokinetics Inc. call Reduce -3.5% 280,000 $15.2M ACI Albertsons Cos Inc. Class A put Reduce -12.5% 700,000 $13.8M TECK Teck Resources Ltd.-CLS B put Reduce -48.9% 230,000 $11.0M LSXMK Liberty Media Corp.-Liber-New put Sold out 300,000 $8.9Mbefore exit SIRI Sirius XM Holdings Inc. put Reduce -42.3% 3,135,000 $8.9M RSP Invesco S&P 500 Equal Weight put New 50,000 $8.2M XBI SS SPDR S&P Biotech ETF put New 75,000 $7.0M IWM iShares Russell 2000 ETF put New 25,000 $5.1M HUBS HubSpot Inc. call New 8,200 $4.8M CAR Avis Budget Group Inc. call New 40,000 $4.2M IRBTQ Irobot Corp. put Sold out 360,000 $3.2Mbefore exit AMC AMC Entertainment HLDS Class A put Add +12.2% 550,000 $2.7M EWU iShares MSCI United Kingdom put Sold out 75,000 $2.6Mbefore exit GEHC GE Healthcare Technology put Sold out 25,000 $2.3Mbefore exit CCL Carnival Corp. put New 100,000 $1.9M SPR Spirit Aerosystems Hold Class A put Sold out 50,000 $1.8Mbefore exit ODD Oddity Tech Ltd. Class A put Sold out 37,500 $1.6Mbefore exit X United States Steel Corp. call Sold out 35,000 $1.4Mbefore exit KVYO Klaviyo Inc. Class A call Sold out 50,000 $1.3Mbefore exit NVDA Nvidia Corp. put New 10,000 $1.2M EWA iShares MSCI Australia ETF call Sold out 50,000 $1.2Mbefore exit CAR Avis Budget Group Inc. put New 10,000 $1.0M AVGO Broadcom Inc. put Reduce -60.0% 3,000 $482K RBRK Rubrik Inc. Class A put New 15,000 $460K IMCR Immunocore Holdings PLC-ADR put New 10,000 $339K DJT Trump Media & Technology Gro call Reduce -96.5% 10,000 $328K MBLY Mobileye Global Inc. Class A call Reduce -88.2% 10,000 $281K MDGL Madrigal Pharmaceuticals Inc. put Sold out 1,000 $267Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2024 → Q2 2024 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 59 $12.5B EA, BA, WBD, KVUE, NSC Q1 2026 60 $14.1B EA, BA, WBD, CAR, NSC Q4 2025 47 $13.8B EA, CYBR, BA, WBD, KVUE Q3 2025 65 $11.1B CYBR, EA, NSC, K, VRNA Q2 2025 63 $7.8B HES, K, JNPR, BPMC, SKX Q1 2025 62 $7.2B HES, X, ITCI, K, BA Q4 2024 54 $5.8B HES, X, SMAR, JNPR, EDR Q3 2024 50 $5.4B X, HES, SPY, K, EDR Q2 2024 51 $4.6B X, HES, BA, EDR, JNPR Q1 2024 53 $6.1B PXD, HES, X, BA, JNPR