# EDGAR Filing Document

**Accession Number:** 0001425851
**File Stem:** 0001140361-26-005785
**Filing Date:** 2026-2
**Character Count:** 11599
**Document Hash:** cc032fee6b382b2cb8f8c94a75674b10
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-26-005785.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001140361-26-005785

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pentwater Capital Management LP
- **CENTRAL INDEX KEY:** 0001425851

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12843
- **FILM NUMBER:** 26642176

**BUSINESS ADDRESS:**
- **STREET 1:** 1001 10TH AVENUE SOUTH
- **STREET 2:** SUITE 216
- **CITY:** NAPLES
- **STATE:** FL
- **ZIP:** 34102
- **BUSINESS PHONE:** 239-384-9750

**MAIL ADDRESS:**
- **STREET 1:** 1001 10TH AVENUE SOUTH
- **STREET 2:** SUITE 216
- **CITY:** NAPLES
- **STATE:** FL
- **ZIP:** 34102

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Pentwater Capital Management LP<br>**Address:** 1001 10TH AVENUE SOUTH<br>SUITE 216<br>NAPLES, FL 34102

**Form 13F File Number:** 028-12843

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Joyce Kalleekal<br>**Title:** Chief Financial Officer<br>**Phone:** 312-589-6406

**Signature, Place, and Date of Signing:**

/s/ Joyce Kalleekal  Evanston, IL  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 77

**Form 13F Information Table Value Total:** $19021557491

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AIR LEASE CORP | CL A | 00912X302 |  | 143875200 | 2240000 | SH |  | SOLE |  | 2240000 | 0 | 0 |
| AMC ENTMT HLDGS INC | CL A NEW | 00165C302 |  | 156000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| AMICUS THERAPEUTICS INC | COM | 03152W109 |  | 163760000 | 11500000 | SH |  | SOLE |  | 11500000 | 0 | 0 |
| ANYWHERE REAL ESTATE INC | COM | 75605Y106 |  | 4956000 | 350000 | SH |  | SOLE |  | 350000 | 0 | 0 |
| ATLANTA BRAVES HLDGS INC | COM SER C | 047726302 |  | 3550500 | 90000 | SH |  | SOLE |  | 90000 | 0 | 0 |
| AVADEL PHARMACEUTICALS PLC | COM SHS | G29687103 |  | 36290200 | 1684000 | SH |  | SOLE |  | 1684000 | 0 | 0 |
| AVIDITY BIOSCIENCES INC | COM | 05370A108 |  | 434691445 | 6026500 | SH |  | SOLE |  | 6026500 | 0 | 0 |
| AVIS BUDGET GROUP | COM | 053774105 |  | 397971648 | 3101400 | SH |  | SOLE |  | 3101400 | 0 | 0 |
| AVIS BUDGET GROUP | COM | 053774105 |  | 8982400 | 70000 | SH | Call | SOLE |  | 70000 | 0 | 0 |
| AVIS BUDGET GROUP | COM | 053774105 |  | 149338816 | 1163800 | SH | Put | SOLE |  | 1163800 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 1435163200 | 6610000 | SH |  | SOLE |  | 6610000 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 1190903200 | 5485000 | SH | Put | SOLE |  | 5485000 | 0 | 0 |
| BORR DRILLING LTD | SHS | G1466R173 |  | 302250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| CADENCE BANK | COM | 12740C103 |  | 266893200 | 6230000 | SH |  | SOLE |  | 6230000 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 133612500 | 4375000 | SH |  | SOLE |  | 4375000 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 80931000 | 2650000 | SH | Put | SOLE |  | 2650000 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 10437500 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| CIDARA THERAPEUTICS INC | COM NEW | 171757206 |  | 124802850 | 565000 | SH |  | SOLE |  | 565000 | 0 | 0 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 62712000 | 2600000 | SH |  | SOLE |  | 2600000 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 173860000 | 2000000 | SH |  | SOLE |  | 2000000 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 372954400 | 25615000 | SH |  | SOLE |  | 25615000 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 33852000 | 2325000 | SH | Call | SOLE |  | 2325000 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 20384000 | 1400000 | SH | Put | SOLE |  | 1400000 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 8593200 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 12173700 | 170000 | SH | Put | SOLE |  | 170000 | 0 | 0 |
| CYBERARK SOFTWARE LTD | SHS | M2682V108 |  | 1527755500 | 3425000 | SH |  | SOLE |  | 3425000 | 0 | 0 |
| DAYFORCE INC | COM | 15677J108 |  | 657020000 | 9500000 | SH |  | SOLE |  | 9500000 | 0 | 0 |
| DIGITALBRIDGE GROUP INC | CL A NEW | 25401T603 |  | 176410000 | 11500000 | SH |  | SOLE |  | 11500000 | 0 | 0 |
| ECHOSTAR CORP | CL A | 278768106 |  | 77361790 | 711700 | SH |  | SOLE |  | 711700 | 0 | 0 |
| ECHOSTAR CORP | CL A | 278768106 |  | 10870000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 2237413500 | 10950000 | SH |  | SOLE |  | 10950000 | 0 | 0 |
| EXACT SCIENCES CORP | COM | 30063P105 |  | 736310000 | 7250000 | SH |  | SOLE |  | 7250000 | 0 | 0 |
| FERMI INC | COM | 314911108 |  | 600000 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| GENEDX HOLDINGS CORP | COM CL A | 81663L200 |  | 6503000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| GENEDX HOLDINGS CORP | COM CL A | 81663L200 |  | 6503000 | 50000 | SH | Put | SOLE |  | 50000 | 0 | 0 |
| GEO GROUP INC NEW | COM | 36162J106 |  | 94264924 | 5847700 | SH |  | SOLE |  | 5847700 | 0 | 0 |
| GEO GROUP INC NEW | COM | 36162J106 |  | 4030000 | 250000 | SH | Put | SOLE |  | 250000 | 0 | 0 |
| HILLENBRAND INC | COM | 431571108 |  | 57096000 | 1800000 | SH |  | SOLE |  | 1800000 | 0 | 0 |
| HOLOGIC INC | COM | 436440101 |  | 316396275 | 4247500 | SH |  | SOLE |  | 4247500 | 0 | 0 |
| KENVUE INC | COM | 49177J102 |  | 978430350 | 56720600 | SH |  | SOLE |  | 56720600 | 0 | 0 |
| KENVUE INC | COM | 49177J102 |  | 70725000 | 4100000 | SH | Call | SOLE |  | 4100000 | 0 | 0 |
| KENVUE INC | COM | 49177J102 |  | 131962500 | 7650000 | SH | Put | SOLE |  | 7650000 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 700250 | 25000 | SH | Put | SOLE |  | 25000 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 345043800 | 3420000 | SH | Call | SOLE |  | 3420000 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER A | 530307107 |  | 8207600 | 170000 | SH |  | SOLE |  | 170000 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 121191098 | 2493644 | SH |  | SOLE |  | 2493644 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 30003200 | 320000 | SH |  | SOLE |  | 320000 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 11720000 | 125000 | SH | Call | SOLE |  | 125000 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 33753600 | 360000 | SH | Put | SOLE |  | 360000 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 871645680 | 3019000 | SH |  | SOLE |  | 3019000 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 2436375 | 12500 | SH | Call | SOLE |  | 12500 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 104994000 | 570000 | SH | Call | SOLE |  | 570000 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 57102000 | 310000 | SH | Put | SOLE |  | 310000 | 0 | 0 |
| PARAMOUNT SKYDANCE CORP | COM CL B | 69932A204 |  | 46236700 | 3450500 | SH |  | SOLE |  | 3450500 | 0 | 0 |
| PARAMOUNT SKYDANCE CORP | COM CL B | 69932A204 |  | 49580000 | 3700000 | SH | Put | SOLE |  | 3700000 | 0 | 0 |
| PINNACLE FINL PARTNERS INC | COM | 72346Q104 |  | 28623000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| PROTAGONIST THERAPEUTICS INC | COM | 74366E102 |  | 4367000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| PURETECH HEALTH PLC | ADS | 746237106 |  | 1164800 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| SHARPLINK GAMING INC | COM NEW | 820014405 |  | 178800 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| SHARPLINK GAMING INC | COM NEW | 820014405 |  | 178800 | 20000 | SH | Put | SOLE |  | 20000 | 0 | 0 |
| SOHO HOUSE  CO INC | COM CL A | 586001109 |  | 13224960 | 1476000 | SH |  | SOLE |  | 1476000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 6819200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1558187200 | 2285000 | SH | Put | SOLE |  | 2285000 | 0 | 0 |
| SURGERY PARTNERS INC | COM | 86881A100 |  | 154500000 | 10000000 | SH |  | SOLE |  | 10000000 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 42274800 | 90000 | SH | Call | SOLE |  | 90000 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 140916000 | 300000 | SH | Put | SOLE |  | 300000 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 311285000 | 6500000 | SH |  | SOLE |  | 6500000 | 0 | 0 |
| TEGNA INC | COM | 87901J105 |  | 33967500 | 1750000 | SH |  | SOLE |  | 1750000 | 0 | 0 |
| TXNM ENERGY INC | COM | 69349H107 |  | 97210880 | 1651000 | SH |  | SOLE |  | 1651000 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 130393450 | 395000 | SH |  | SOLE |  | 395000 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 935861850 | 2835000 | SH | Call | SOLE |  | 2835000 | 0 | 0 |
| USA TODAY CO INC | COM | 36472T109 |  | 7210000 | 1400000 | SH |  | SOLE |  | 1400000 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 1327881500 | 46075000 | SH |  | SOLE |  | 46075000 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 82137000 | 2850000 | SH | Call | SOLE |  | 2850000 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 101446400 | 3520000 | SH | Put | SOLE |  | 3520000 | 0 | 0 |
| WHITEFIBER INC | SHS | G96115103 |  | 158000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| WHITEFIBER INC | SHS | G96115103 |  | 158000 | 10000 | SH | Call | SOLE |  | 10000 | 0 | 0 |

---