Clients
Pentwater Capital Management serves 23 clients, 21 of them pooled investment vehicles. The average client has about $838 million with the firm.
- Pooled investment vehicles21 clients94%
- Corporations and other businesses2 clients6%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 21 | $18,180,408,528 | 94.4% | $865.7M |
| Corporations and other businesses | 2 | $1,083,576,544 | 5.6% | $541.8M |
| Total | 23 | $19,263,985,072 | 100% | $837.6M |
- Clients
- 21
- Regulatory AUM
- $18,180,408,528
- Share
- 94.4%
- Avg. per client
- $865.7M
- Clients
- 2
- Regulatory AUM
- $1,083,576,544
- Share
- 5.6%
- Avg. per client
- $541.8M
Total
- Clients
- 23
- Regulatory AUM
- $19,263,985,072
- Share
- 100%
- Avg. per client
- $837.6M
What it does
Pentwater Capital Management provides portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Pentwater Capital Management advises 7 private funds.
100.0% of assets ($19.26B across 23 accounts) are managed with discretion. 70% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks91%
- Exchange-traded equities83%
- Non-exchange-traded equities8%
- Bonds2%
- Cash3%
- Other4%
- Derivatives4%
Custodians
Pentwater Capital Management’s client accounts are held mainly at UBS Securities, with 6% of managed assets, and Citigroup Global Markets, with 3%. Pentwater Capital Management has custody of $17.63B for 19 clients.
- UBS SecuritiesUBS Securities LLC · New York, NY · $1.12B6%
- Goldman Sachs &Goldman Sachs & Co · New York, NY · $180.1M1%
- Citigroup Global MarketsCitigroup Global Markets · New York, NY · $633.1M3%
- Bofa SecuritiesBofa Securities, Inc. · New York, NY · $250.9M1%
- All other custodians$17.08B89%
Ownership and leadership
Pentwater Partners LP owns 75% or more of Pentwater Capital Management, and Matthew Halbower is its CEO.
- Owns 75% or more of Pentwater Capital Management LP
Pentwater Partners LP
Control person · since August 2024
- Owns 25% to 50% of Pentwater Partners LP
Halbower Legacy Trust
Control person · since August 2024
Julie Halbower
Trustee · Control person · since July 2007
Susan Halbower
Trustee · Control person · since July 2007
MCH PWCM Holdings Inc.
General partner · Control person · since March 2025
- Owns 75% or more of MCH PWCM Holdings Inc.
Matthew Halbower
Control person · since March 2025
Leadership
- Matthew HalbowerChief Executive Officer
- Joyce KalleekalChief Financial Officer
- David ZirinChief Operating Officer
- Hooman TavakolianChief Compliance Officer
Staff
- 45 employees
- 20 in advisory functions
Reported holdings
Pentwater Capital Management’s reported 13F holdings total $16.35B across 90 positions, and the ten largest make up 66.5% of it.
- $16.35B
- Reported 13F value
- 90
- Positions
- 66.5%
- In the 10 largest
- −15.2%
- Value vs. prior quarter
- Electronic Arts Inc.16.9%
- Boeing CO8.2%
- Warner Bros Discovery Inc. · Com Ser A7.8%
- State Str SPDR S&P 500 ETF T · TR UnitPut6.5%
- Kenvue Inc.6.0%
- Norfolk Southn Corp.5.3%
- Boeing COPut5.1%
- Unitedhealth Group Inc.Call4.8%
- Roku Inc. · Com CL A3.7%
- Echostar Corp. · CL A2.4%
Together, the ten largest are 66.5% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $16.35B is not its $19.26B in regulatory assets and does not represent any individual client's portfolio.
Fees
Pentwater Capital Management is paid through a percentage of assets under management and performance-based fees.
Pentwater Capital Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Pentwater Capital Management has 1 office, with 2 listed addresses across 2 states.
Florida · 1 listed address
- 1001 10th Avenue South, Suite 216, NaplesHQ
Illinois · 1 listed address
- 614 Davis Street, Evanston
Registration details
- Legal name
- Pentwater Capital Management LP
- Headquarters
- 1001 10th Avenue South, Suite 216, Naples, FL 34102
- Phone
- 239-384-9750
- Website
- Not reported
- SEC file
- 801-72861
- Structure
- Delaware limited partnership
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Pentwater Capital Management have?
Pentwater Capital Management has 23 clients and manages $19.3 billion for them, as of March 2026. They include 21 pooled investment vehicles and 2 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does Pentwater Capital Management offer?
Pentwater Capital Management provides portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Pentwater Capital Management use?
Pentwater Capital Management’s separately managed account assets are held at UBS Securities LLC (New York, NY), with $1,118,907,628, Citigroup Global Markets (New York, NY), with $633,078,414, Bofa Securities, Inc. (New York, NY), with $250,867,739 and Goldman Sachs & Co (New York, NY), with $180,110,922. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does Pentwater Capital Management have?
Pentwater Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 45 employees, and 20 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Pentwater Capital Management invest in?
At the end of its last fiscal year, Pentwater Capital Management’s separately managed accounts held 83% exchange-traded equities, 8% non-exchange-traded equities, 4% derivatives, 3% cash and equivalents and 2% high-yield corporate bonds. It advises 7 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Pentwater Capital Management?
Pentwater Capital Management is owned through a chain of holding companies by Matthew Halbower. Its direct owner is Pentwater Partners LP (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does Pentwater Capital Management get paid?
Pentwater Capital Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file