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Livermore
Livermore
ZHEN

Pentwater Capital Management LP

SEC CIK
0001425851
Latest filing
Aug 14, 2026

The latest 13F from Pentwater Capital Management LP covers Q2 2026 (filed Aug 14, 2026): 59 long positions worth $12.5B. The top 10 holdings make up 74.3% of the portfolio, and the largest is Electronic Arts Inc. (EA) at 22.1%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
28
Est. +$1.94B
Added
10
Est. +$1.08B
Reduced
15
Est. −$2.43B
Sold out
29
Est. −$3.03B

Top 5 holdings

Share of this quarter's portfolio value

  1. EAElectronic Arts Inc.
    22.1%$2.76BHistory
  2. BABoeing Co
    10.7%$1.34BHistory
  3. WBDWarner Bros. Discovery, Inc.
    10.1%$1.27BHistory
  4. KVUEKenvue Inc.
    7.8%$977.1MHistory
  5. NSCNorfolk Southern Corp
    7.0%$873.0MHistory

Share of portfolio

Top 5 holdings and the other 54 positions, by share of portfolio value

  1. EA22.1%
  2. BA10.7%
  3. WBD10.1%
  4. KVUE7.8%
  5. NSC7.0%
  6. Other 54 positions42.3%

Biggest buys

New and added positions, by estimated amount bought

  1. ROKURoku, Inc
    +$597.5MNewHistory
  2. CZRCaesars Entertainment, Inc.
    +$266.0MAddedHistory
  3. OGNOrganon & Co.
    +$245.1MNewHistory
  4. DDominion Energy, Inc
    +$239.0MNewHistory
  5. TXNMTXNM Energy Inc
    +$209.4MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. ROKURoku, Inc
    +4.77 pp0.0% → 4.8%History
  2. EAElectronic Arts Inc.
    +3.51 pp18.6% → 22.1%History
  3. CZRCaesars Entertainment, Inc.
    +2.27 pp0.5% → 2.8%History
  4. OGNOrganon & Co.
    +1.96 pp0.0% → 2.0%History
  5. DDominion Energy, Inc
    +1.91 pp0.0% → 1.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CARAvis Budget Group, Inc.
    −$670.4MReducedHistory
  2. CORZCore Scientific, Inc.
    −$622.2MReducedHistory
  3. MASIMasimo Corp
    −$564.9MSold outHistory
  4. SPYSPDR S&P 500 ETF Trust
    −$403.3MReducedHistory
  5. HOLXHologic Inc
    −$340.2MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CARAvis Budget Group, Inc.
    −4.34 pp7.3% → 3.0%History
  2. MASIMasimo Corp
    −4.01 pp4.0% → 0.0%History
  3. CORZCore Scientific, Inc.
    −2.53 pp2.6% → 0.1%History
  4. SPYSPDR S&P 500 ETF Trust
    −2.44 pp2.7% → 0.2%History
  5. HOLXHologic Inc
    −2.42 pp2.4% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$12.5B
−$1.55B (−11.0%) vs. prior quarter
Positions
59
−1 vs. prior quarter
Top 10 concentration
74.3%
Top 10 as share of value
Turnover
22.7%
Q2 2026, one quarter
Average holding period
6.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $14.1B (Q1 2026)

Q1 2021: $8.64BQ2 2021: $9.74BQ3 2021: $7.28BQ4 2021: $6.33BQ1 2022: $5.43BQ2 2022: $5.87BQ3 2022: $6.60BQ4 2022: $3.19BQ1 2023: $6.03BQ2 2023: $7.99BQ3 2023: $10.4BQ4 2023: $5.33BQ1 2024: $6.10BQ2 2024: $4.62BQ3 2024: $5.46BQ4 2024: $5.81BQ1 2025: $7.17BQ2 2025: $7.84BQ3 2025: $11.1BQ4 2025: $13.8BQ1 2026: $14.1BQ2 2026: $12.5B
Q1 2021Q2 2026
13F filings of Pentwater Capital Management LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202659$12.5BEABAWBDvs. Q1 2026SEC
Q1 2026May 15, 202660$14.1BEABAWBDvs. Q4 2025SEC
Q4 2025Feb 17, 202647$13.8BEACyberark Software LtdBAvs. Q3 2025SEC
Q3 2025Nov 14, 202566$11.1BCyberark Software LtdEANSCvs. Q2 2025SEC
Q2 2025Aug 14, 202564$7.84BHESKJNPRvs. Q1 2025SEC
Q1 2025May 15, 202563$7.17BHESXITCIvs. Q4 2024SEC
Q4 2024Feb 14, 202555$5.81BHESXSMARvs. Q3 2024SEC
Q3 2024Nov 14, 202452$5.46BXHESSPYvs. Q2 2024SEC
Q2 2024Jul 31, 202453$4.62BXHESBAvs. Q1 2024SEC
Q1 2024May 15, 202457$6.10BPXDHESXvs. Q4 2023SEC
Q4 2023Feb 14, 202468$5.33BPXDSPLKHESvs. Q3 2023SEC
Q3 2023Nov 14, 202369$10.4BATVISGENHZNPvs. Q2 2023SEC
Q2 2023Aug 14, 202386$7.99BSGENATVIHZNPvs. Q1 2023SEC
Q1 2023May 15, 202394$6.03BATVIHZNPSGENvs. Q4 2022SEC
Q4 2022Feb 14, 202380$3.19BATVIHZNPShaw Communications Incvs. Q3 2022SEC
Q3 2022Nov 14, 2022100$6.60BTWTRTurquoise Hill Res LtdATVIvs. Q2 2022SEC
Q2 2022Aug 15, 2022116$5.87BATVITWTRTurquoise Hill Res Ltdvs. Q1 2022SEC
Q1 2022May 16, 2022123$5.43BATVITurquoise Hill Res LtdCTXSvs. Q4 2021SEC
Q4 2021Feb 11, 2022159$6.33BINFONUANXLNXvs. Q3 2021SEC
Q3 2021Nov 15, 2021183$7.28BINFONUANKSUvs. Q2 2021SEC
Q2 2021Aug 16, 2021259$9.74BMXIMALXNWORKvs. Q1 2021SEC
Q1 2021May 17, 2021276$8.64BMXIMWORKXLNX–SEC

13D and 13G filings

Companies where Pentwater Capital Management LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

10 companies, largest stake first.

Companies where Pentwater Capital Management LP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
SGRYSurgery Partners, Inc.13G/A9.70%12.7M shares+2.00 ppfrom 7.70%Aug 14, 20254 filingsMay 15, 2026SEC
VERVVerve Therapeutics, Inc.13G7.50%6.72M sharesNewAug 14, 20251 filingAug 14, 2025SEC
CARAvis Budget Group, Inc.13G/A7.30%2.59M shares−14.90 ppfrom 22.20%May 15, 20255 filingsMay 7, 2026SEC
GEOGeo Group Inc13G7.20%9.62M sharesNewMay 15, 20261 filingMay 15, 2026SEC
OGNOrganon & Co.13G6.90%18.1M sharesNewAug 14, 20261 filingAug 14, 2026SEC
DBRGDigitalBridge Group, Inc.13G6.30%11.5M sharesNewFeb 17, 20261 filingFeb 17, 2026SEC
BPMCBlueprint Medicines Corp13G6.00%3.90M sharesNewAug 14, 20251 filingAug 14, 2025SEC
TXNMTXNM Energy Inc13G5.90%6.49M sharesNewAug 14, 20261 filingAug 14, 2026SEC
CZRCaesars Entertainment, Inc.13G5.60%11.5M sharesNewAug 14, 20261 filingAug 14, 2026SEC
EAElectronic Arts Inc.13G5.10%12.8M sharesNewMay 15, 20261 filingMay 15, 2026SEC

Latest filings

64 filings on file made by Pentwater Capital Management LP or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Pentwater Capital Management LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
TXNMTXNM Energy IncAug 14, 20264:23 PM ET13G5.90%6.49M sharesNewJun 30, 2026SEC
MASIMasimo CorpAug 14, 20264:23 PM ET13G/A0.00%0 shares−6.10 ppfrom 6.10%Below 5%Jun 30, 2026SEC
AMCAMC Entertainment Holdings, Inc.Aug 14, 20264:22 PM ET13G/A0.30%2.25M shares−9.69 ppfrom 9.99%Below 5%Jun 30, 2026SEC
CORZCore Scientific, Inc.Aug 14, 20264:22 PM ET13G/A0.40%1.34M shares−8.10 ppfrom 8.50%Below 5%Jun 30, 2026SEC
CNTACentessa Pharmaceuticals plcAug 14, 20264:21 PM ET13G/A0.00%0 shares−5.30 ppfrom 5.30%Below 5%Jun 30, 2026SEC
OGNOrganon & Co.Aug 14, 20264:21 PM ET13G6.90%18.1M sharesNewJun 30, 2026SEC
CZRCaesars Entertainment, Inc.Aug 14, 20264:20 PM ET13G5.60%11.5M sharesNewJun 30, 2026SEC
AMCAMC Entertainment Holdings, Inc.May 15, 20264:47 PM ET13G9.99%63.6M shares+9.99 ppfrom 0.00%Mar 31, 2026SEC
DAYDayforce, Inc.May 15, 20264:35 PM ET13G/A0.00%0 shares−5.90 ppfrom 5.90%Below 5%Mar 31, 2026SEC
CyberArk Software Ltd.Ordinary Shares, par value NIS 0.01 per shareMay 15, 20264:35 PM ET13G/A0.00%0 shares−7.30 ppfrom 7.30%Below 5%Mar 31, 2026SEC
SGRYSurgery Partners, Inc.May 15, 20264:34 PM ET13G/A9.70%12.7M shares+2.00 ppfrom 7.70%Mar 31, 2026SEC
MASIMasimo CorpMay 15, 20264:33 PM ET13G6.10%3.18M sharesNewMar 31, 2026SEC
GEOGeo Group IncMay 15, 20264:32 PM ET13G7.20%9.62M sharesNewMar 31, 2026SEC
CNTACentessa Pharmaceuticals plcMay 15, 20264:32 PM ET13G5.30%8.17M sharesNewMar 31, 2026SEC
EAElectronic Arts Inc.May 15, 20264:31 PM ET13G5.10%12.8M sharesNewMar 31, 2026SEC
CARAvis Budget Group, Inc.May 7, 20264:30 PM ET13G/A7.30%2.59M shares−14.90 ppfrom 22.20%Apr 30, 2026SEC
CARAvis Budget Group, Inc.Apr 7, 20269:30 PM ET13G/A22.20%7.82M shares+9.90 ppfrom 12.30%Mar 31, 2026SEC
CARAvis Budget Group, Inc.Mar 6, 20269:30 PM ET13G/A12.30%4.33M shares+3.90 ppfrom 8.40%Feb 28, 2026SEC
SGRYSurgery Partners, Inc.Feb 17, 20265:17 PM ET13G/A7.70%10.0M shares−1.40 ppfrom 9.10%Dec 31, 2025SEC
SPRSpirit AeroSystems Holdings, Inc.Feb 17, 20265:16 PM ET13G/A0.00%0 shares–Below 5%Dec 31, 2025SEC