PC
PointState Capital Portfolio holdings
AUM
$7.82B
Turnover
60.87%
1-Year Est. Return
43.51%
This Fund
S&P 500
This Quarter
Est. Return
+12.96%
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
$6.7B
AUM Growth
+$140M
(+2.1%)
Cap. Flow
+$450M
Cap. Flow
% of AUM
6.73%
Top 10 Holdings %
Top 10 Hldgs %
44.29%
Holding
69
New
16
Increased
18
Reduced
15
Closed
12
Avg Time Held Equity + Options
0.6
years
Top 10 Avg Time Held Equity + Options
0.4
years
Top 20 Avg Time Held Equity + Options
0.6
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.4
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
StubHub Holdings
STUB
|
+$380M |
| 2 |
Carpenter Technology
CRS
|
+$177M |
| 3 |
Natera
NTRA
|
+$156M |
| 4 |
Rubrik
RBRK
|
+$146M |
| 5 |
Talen Energy Corp
TLN
|
+$103M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lumentum
LITE
|
+$241M |
| 2 |
Bank of America
BAC
|
+$144M |
| 3 |
iShares MSCI South Korea ETF
EWY
|
+$134M |
| 4 |
Block Inc
XYZ
|
+$127M |
| 5 |
Illumina
ILMN
|
+$114M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 16.92% |
| 2 | Healthcare | 15.8% |
| 3 | Technology | 15.73% |
| 4 | Industrials | 11.53% |
| 5 | Financials | 9.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Aramark
ARMK
$14.4B
| $125M | 1.87% |
3,255,668
+540,633
| +20% | +$21.9M |
2022 Q3
12 quarters
|
|
27
Caris Life Sciences
CAI
$8.55B
| $117M | 1.75% |
3,883,721
+1,385,364
| +55% | +$44.2M |
2025 Q2
1 quarter
|
|
28
Expedia Group
EXPE
$33B
| $91.4M | 1.37% |
427,789
+116,907
| +38% | +$23.5M |
2024 Q1
6 quarters
|
|
29
Okta
OKTA
$37B
| $90M | 1.34% |
981,850
+262,026
| +36% | +$24.5M |
2025 Q1
2 quarters
|
|
30
CALL
Cemex
CX
$13.7B
| $80.9M | 1.21% |
+9,000,000
| New | +$76.8M |
2025 Q3
0 quarters
|
|
31
Waystar Holding Corp
WAY
$5.15B
| $79.6M | 1.19% |
+2,099,772
| New | +$77.8M |
2025 Q3
0 quarters
|
|
32
CALL
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
| $74.2M | 1.11% |
3,672,100
| – | – |
2024 Q2
5 quarters
|
|
33
Microsoft
MSFT
$3.96T
| $55.8M | 0.83% |
+107,665
| New | +$54.9M |
2025 Q3
0 quarters
|
|
34
Repligen
RGEN
$11.3B
| $54.7M | 0.82% |
+409,503
| New | +$49.7M |
2025 Q3
0 quarters
|
|
35
CALL
State Street Financial Select Sector SPDR ETF
XLF
$50.7B
| $53.9M | 0.8% |
+1,000,000
| New | +$53M |
2025 Q3
0 quarters
|
|
36
Applovin
APP
$87.7B
| $51.9M | 0.78% |
+72,266
| New | +$33.3M |
2025 Q3
0 quarters
|
|
37
Wabtec
WAB
$48.4B
| $51.7M | 0.77% |
+257,970
| New | +$50.9M |
2025 Q3
0 quarters
|
|
38
Samsara
IOT
$23.9B
| $44.8M | 0.67% |
+1,203,282
| New | +$44.7M |
2025 Q3
0 quarters
|
|
39
Grab
GRAB
$11.9B
| $38.3M | 0.57% |
6,369,154
-5,987,169
| -48% | -$31.8M |
2024 Q3
4 quarters
|
|
40
Roblox
RBLX
$34B
| $33.9M | 0.51% |
244,877
+175,521
| +253% | +$21.8M |
2025 Q2
1 quarter
|
|
41
Expand Energy Corp
EXE
$21.1B
| $28.3M | 0.42% |
266,486
-352,705
| -57% | -$35.4M |
2025 Q2
1 quarter
|
|
42
Roivant Sciences
ROIV
$24.3B
| $27.1M | 0.4% |
1,791,440
-635,123
| -26% | -$7.86M |
2024 Q1
6 quarters
|
|
43
Coherent
COHR
$51.9B
| $22.6M | 0.34% |
209,458
-483,773
| -70% | -$48.2M |
2024 Q1
6 quarters
|
|
44
Pinterest
PINS
$12.3B
| $22.3M | 0.33% |
+693,103
| New | +$25.1M |
2025 Q3
0 quarters
|
|
45
Tower Semiconductor
TSEM
$23.6B
| $20.5M | 0.31% |
+283,504
| New | +$15.5M |
2025 Q3
0 quarters
|
|
46
Galicia Financial Group
GGAL
$5.71B
| $16.2M | 0.24% |
588,619
-1,010,280
| -63% | -$43.4M |
2024 Q2
5 quarters
|
|
47
EQT Corp
EQT
$33B
| $14.1M | 0.21% |
259,314
-188,555
| -42% | -$9.96M |
2025 Q2
1 quarter
|
|
48
BBVA Argentina
BBAR
$2.56B
| $13.8M | 0.21% |
1,662,060
-2,029,514
| -55% | -$27.4M |
2024 Q2
5 quarters
|
|
49
Vistra
VST
$50.9B
| $12.3M | 0.18% |
62,872
| – | – |
2024 Q3
4 quarters
|
|
50
NRG Energy
NRG
$21.2B
| $10.8M | 0.16% |
+66,812
| New | +$10.4M |
2025 Q3
0 quarters
|
|
Similar funds
MNA
BFG
PFA
FFM
EMPI
LAM
UB
IMCOOI
PointState Capital's Q3 2025 Portfolio in Review
As of Q3 2025, PointState Capital held 69 positions worth $6.7B, up 2.1% from $6.56B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
PointState Capital deployed $450M of net new capital in Q3 2025, opening 16 new positions and adding to 18 existing holdings. Its largest new stake was StubHub Holdings: 20,706,003 shares worth $349M.
By sector, the portfolio is most concentrated in Miscellaneous at 17% of assets, down from 32% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Illumina, an estimated $114M trimmed.
- PointState Capital's largest Q3 2025 buy was StubHub Holdings: 20,706,003 shares worth $349M.
- PointState Capital added most to Carpenter Technology in Q3 2025, an estimated $177M increase.
- PointState Capital's biggest Q3 2025 reduction was Illumina, cutting an estimated $114M.
- PointState Capital fully exited Lumentum in Q3 2025, selling an estimated $241M.
- PointState Capital's ten largest holdings make up 44% of its $6.7B portfolio in Q3 2025.
- PointState Capital opened 16 new positions and closed 12 in Q3 2025.
- PointState Capital's portfolio value rose 2.1% quarter-over-quarter to $6.7B.
Based on PointState Capital's 13F filing for Q3 2025, filed 14 Nov 2025.