PointState Capital Portfolio holdings
PointState Capital manages private investment funds and was started in January 2011; Zachary Schreiber is its chairman, chief executive, chief investment officer and principal owner. The funds mix long/short stock picking, global macro, commodities, high-yield and distressed credit, and event-driven and relative value trades. One group of its funds, PointArgentum, invests mainly in Argentine securities. Its investors are mostly charitable foundations, endowments, funds that invest in other funds, family investment entities, trusts and high net worth individuals.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
McDonald's
MCD
|
+$440M |
| 2 |
TSG
The Stars Group Inc.
TSG
|
+$309M |
| 3 |
Cheniere Energy
LNG
|
+$241M |
| 4 |
Bank of America
BAC
|
+$182M |
| 5 |
Citigroup
C
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Biogen
BIIB
|
+$128M |
| 2 |
Anywhere Real Estate
HOUS
|
+$108M |
| 3 |
Citizens Financial Group
CFG
|
+$105M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$93.9M |
| 5 |
Lockheed Martin
LMT
|
+$92.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 23.05% |
| 2 | Energy | 19.83% |
| 3 | Miscellaneous | 12.52% |
| 4 | Communication Services | 11.57% |
| 5 | Materials | 9.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Cheniere Energy
LNG
$62.2B
| $683M | 7.98% |
9,859,298
+3,211,200
| +48% | +$241M |
2013 Q2
8 quarters
|
|
2
Teva Pharmaceutical Industries Limited
TEVA
$50.5B
| $574M | 6.71% |
9,705,591
-604,374
| -6% | -$37.3M |
2013 Q4
6 quarters
|
|
3
LyondellBasell Industries
LYB
$20.2B
| $528M | 6.17% |
5,100,639
-860,191
| -14% | -$86.5M |
2015 Q1
1 quarter
|
|
4
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $458M | 5.35% |
+2,224,700
| New | +$468M |
2015 Q2
0 quarters
|
|
|
5
McDonald's
MCD
$194B
| $433M | 5.06% |
+4,554,100
| New | +$440M |
2015 Q2
0 quarters
|
|
6
AbbVie
ABBV
$521B
| $320M | 3.74% |
4,764,800
+612,700
| +15% | +$40M |
2014 Q3
3 quarters
|
|
|
TSG
7
DELISTED
The Stars Group Inc.
TSG
| $313M | 3.66% |
+11,418,251
| New | +$309M |
2015 Q2
0 quarters
|
|
8
Alphabet (Google) Class C
GOOG
$3.57T
| $244M | 2.85% |
9,042,420
+1,180,895
| +15% | +$31.6M |
2015 Q1
1 quarter
|
|
9
TC Energy
TRP
$67B
| $240M | 2.8% |
5,902,767
+1,717,200
| +41% | +$75.6M |
2014 Q3
3 quarters
|
|
10
DELISTED
Pioneer Natural Resource Co.
PXD
| $231M | 2.7% |
1,667,971
+371,354
| +29% | +$58.9M |
2013 Q2
8 quarters
|
|
11
General Dynamics
GD
$99.2B
| $206M | 2.41% |
1,456,075
-71,200
| -5% | -$9.9M |
2014 Q1
5 quarters
|
|
12
Comcast
CMCSA
$88.8B
| $202M | 2.36% |
6,704,368
+201,148
| +3% | +$5.91M |
2013 Q3
7 quarters
|
|
|
13
Bank of America
BAC
$350B
| $188M | 2.19% |
+11,024,400
| New | +$182M |
2015 Q2
0 quarters
|
|
|
TWC
14
CALL
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $182M | 2.12% |
+1,020,000
| New | +$169M |
2015 Q2
0 quarters
|
|
15
Wells Fargo
WFC
$258B
| $171M | 2% |
3,043,155
+1,394,600
| +85% | +$77.8M |
2014 Q4
2 quarters
|
|
16
DuPont de Nemours
DD
$20.6B
| $150M | 1.76% |
1,159,693
-235,981
| -17% | -$30.6M |
2014 Q4
2 quarters
|
|
17
CALL
Invesco QQQ Trust
QQQ
$468B
| $128M | 1.49% |
+1,193,300
| New | +$130M |
2015 Q2
0 quarters
|
|
18
PPG Industries
PPG
$27.6B
| $127M | 1.49% |
1,109,710
+55,400
| +5% | +$6.33M |
2014 Q2
4 quarters
|
|
19
Northrop Grumman
NOC
$78.3B
| $124M | 1.45% |
784,000
-209,300
| -21% | -$33.5M |
2014 Q3
3 quarters
|
|
|
20
Citigroup
C
$206B
| $121M | 1.41% |
+2,182,100
| New | +$119M |
2015 Q2
0 quarters
|
|
21
Jazz Pharmaceuticals
JAZZ
$15.9B
| $111M | 1.29% |
627,900
+426,300
| +211% | +$76.6M |
2014 Q1
5 quarters
|
|
22
Neurocrine Biosciences
NBIX
$17.7B
| $109M | 1.28% |
2,285,300
-348,100
| -13% | -$14.8M |
2014 Q4
2 quarters
|
|
|
WLL
23
DELISTED
Whiting Petroleum Corporation
WLL
| $108M | 1.27% |
+10,760
| New | +$112M |
2015 Q2
0 quarters
|
|
24
Halliburton
HAL
$27.2B
| $107M | 1.25% |
+2,492,392
| New | +$115M |
2015 Q2
0 quarters
|
|
25
Labcorp
LH
$30.2B
| $101M | 1.18% |
968,332
-84,273
| -8% | -$8.77M |
2014 Q4
2 quarters
|
|
Similar funds
PointState Capital's Q2 2015 Portfolio in Review
As of Q2 2015, PointState Capital held 191 positions worth $8.55B, up 16% from $7.39B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
PointState Capital deployed $846M of net new capital in Q2 2015, opening 75 new positions and adding to 30 existing holdings. Its largest new stake was McDonald's: 4,554,100 shares worth $433M.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, down from 29% a quarter earlier, followed by Energy and Miscellaneous.
On the sell side, the largest reduction was Biogen, an estimated $128M trimmed.
- PointState Capital's largest Q2 2015 buy was McDonald's: 4,554,100 shares worth $433M.
- PointState Capital added most to Cheniere Energy in Q2 2015, an estimated $241M increase.
- PointState Capital's biggest Q2 2015 reduction was Biogen, cutting an estimated $128M.
- PointState Capital fully exited Anywhere Real Estate in Q2 2015, selling an estimated $108M.
- PointState Capital's ten largest holdings make up 47% of its $8.55B portfolio in Q2 2015.
- PointState Capital opened 75 new positions and closed 43 in Q2 2015.
- PointState Capital's portfolio value rose 16% quarter-over-quarter to $8.55B.
Based on PointState Capital's 13F filing for Q2 2015, filed 14 Aug 2015.