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PointState Capital Portfolio holdings

AUM $7.82B
1-Year Est. Return 43.51%
This Fund
S&P 500
This Quarter Est. Return
+17.46%
1 Year Est. Return
+43.51%
3 Year Est. Return
+157.95%
5 Year Est. Return
+295.76%
10 Year Est. Return
+2,156.01%
AUM
$6.56B
AUM Growth
-$341M
Cap. Flow
-$595M
Cap. Flow %
-9.07%
Top 10 Hldgs %
53.38%
Holding
63
New
16
Increased
14
Reduced
20
Closed
10

Top Buys

Rank Stock Value
1
CX icon
Cemex
CX
+$127M
2
EWY icon
iShares MSCI South Korea ETF
EWY
+$112M
3
XYZ
Block Inc
XYZ
+$109M
4
AMZN icon
Amazon
AMZN
+$101M
5
CCC
CCC Intelligent Solutions
CCC
+$90.3M

Top Sells

Rank Stock Value
1
WCC
WESCO International
WCC
+$244M
2
SRE icon
Sempra
SRE
+$155M
3
CPNG icon
Coupang
CPNG
+$144M
4
CEG icon
Constellation Energy
CEG
+$116M
5
GRAB icon
Grab
GRAB
+$106M

Sector Composition

Rank Sector Weight
1 Miscellaneous 31.53%
2 Technology 16.66%
3 Financials 12.86%
4 Healthcare 11.53%
5 Consumer Discretionary 8.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TLN
26
Talen Energy Corp
TLN
$14.2B
$72.2M 1.1%
248,269
-128,093
-34% -$30.4M
OKTA icon
27
Okta
OKTA
$29.1B
$72M 1.1%
719,824
-22,373
-3% -$2.39M
CAI
28
Caris Life Sciences
CAI
$7.24B
$66.8M 1.02%
+2,498,357
New +$67.3M
GRAB icon
29
Grab
GRAB
$14.8B
$62.2M 0.95%
12,356,323
-22,792,496
-65% -$106M
COHR icon
30
Coherent
COHR
$54.7B
$61.8M 0.94%
693,231
+42,741
+7% +$3.08M
TEVA icon
31
CALL
Teva Pharmaceuticals
TEVA
$42.5B
$61.5M 0.94%
3,672,100
– –
BBAR icon
32
BBVA Argentina
BBAR
$2.96B
$60.8M 0.93%
3,691,574
+345,035
+10% +$6.59M
CYBR
33
DELISTED
CyberArk
CYBR
$57.5M 0.88%
141,435
+112,488
+389% +$41M
EXPE icon
34
Expedia Group
EXPE
$39.5B
$52.4M 0.8%
310,882
-225,416
-42% -$36.6M
WCC
35
WESCO International
WCC
$16.4B
$51.6M 0.79%
278,594
-1,480,017
-84% -$244M
RKT icon
36
Rocket Companies
RKT
$39B
$50M 0.76%
+3,529,268
New +$45.8M
CRS icon
37
Carpenter Technology
CRS
$23.6B
$39.9M 0.61%
+144,289
New +$31.5M
SUPV
38
Grupo Supervielle
SUPV
$728M
$37.5M 0.57%
3,541,799
+1,074,556
+44% +$14.6M
DDOG icon
39
Datadog
DDOG
$85.1B
$32.1M 0.49%
+239,108
New +$26.5M
BMA icon
40
Banco Macro
BMA
$4.86B
$30.6M 0.47%
435,374
+183,983
+73% +$15.2M
AMRZ
41
Amrize Ltd
AMRZ
$24.4B
$28.7M 0.44%
+578,633
New +$29.2M
ROIV icon
42
Roivant Sciences
ROIV
$25.1B
$27.3M 0.42%
2,426,563
-288,560
-11% -$3.13M
EQT icon
43
EQT Corp
EQT
$34.1B
$26.1M 0.4%
+447,869
New +$24.2M
FRPT icon
44
Freshpet
FRPT
$3.4B
$24.3M 0.37%
+357,092
New +$27.9M
NTRA icon
45
Natera
NTRA
$47B
$23.7M 0.36%
140,442
-615,287
-81% -$95.9M
NVDA icon
46
NVIDIA
NVDA
$5.25T
$20.5M 0.31%
129,695
-787,721
-86% -$99.1M
GRAB icon
47
PUT
Grab
GRAB
$14.8B
$15.1M 0.23%
+3,000,000
New +$14M
VST icon
48
Vistra
VST
$46B
$12.2M 0.19%
62,872
-352,329
-85% -$52.1M
DHT icon
49
DHT Holdings
DHT
$3.17B
$9.57M 0.15%
+885,740
New +$9.76M
ALVO icon
50
Alvotech
ALVO
$1.77B
$9.57M 0.15%
1,049,039
-125,300
-11% -$1.18M
1
2
3

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PFA
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FFM
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EMPI
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LAM
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IMCOOI
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PointState Capital's Q2 2025 Portfolio in Review

As of Q2 2025, PointState Capital held 63 positions worth $6.56B, down 4.9% from $6.9B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

PointState Capital withdrew a net $595M in Q2 2025, closing 10 positions and reducing 20 holdings. Its most notable exit was Constellation Energy, an estimated $116M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 32% of assets, down from 35% a quarter earlier, followed by Technology and Financials.

Against the trend, PointState Capital opened a new position in Cemex worth $138M.

  • PointState Capital's largest Q2 2025 buy was Cemex: 19,974,901 shares worth $138M.
  • PointState Capital added most to Amazon in Q2 2025, an estimated $101M increase.
  • PointState Capital's biggest Q2 2025 reduction was WESCO International, cutting an estimated $244M.
  • PointState Capital fully exited Constellation Energy in Q2 2025, selling an estimated $116M.
  • PointState Capital's ten largest holdings make up 53% of its $6.56B portfolio in Q2 2025.
  • PointState Capital opened 16 new positions and closed 10 in Q2 2025.
  • PointState Capital's portfolio value fell 4.9% quarter-over-quarter to $6.56B.

Based on PointState Capital's 13F filing for Q2 2025, filed 14 Aug 2025.