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 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$356M |
| 2 |
Amazon
AMZN
|
+$325M |
| 3 |
Broadcom
AVGO
|
+$218M |
| 4 |
MON
Monsanto Co
MON
|
+$163M |
| 5 |
Constellation Brands
STZ
|
+$155M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LyondellBasell Industries
LYB
|
+$371M |
| 2 |
AGN
Allergan plc
AGN
|
+$207M |
| 3 |
Cheniere Energy
LNG
|
+$195M |
| 4 |
Charter Communications
CHTR
|
+$153M |
| 5 |
McDonald's
MCD
|
+$129M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.23% |
| 2 | Energy | 13.27% |
| 3 | Communication Services | 10.51% |
| 4 | Miscellaneous | 9.54% |
| 5 | Technology | 9.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Teva Pharmaceutical Industries Limited
TEVA
$49.1B
| $751M | 15.47% |
14,951,660
+6,679,082
| +81% | +$356M |
2013 Q4
10 quarters
|
|
|
2
Amazon
AMZN
$2.6T
| $344M | 7.1% |
9,624,860
+9,608,860
| +60,055% | +$325M |
2016 Q1
1 quarter
|
|
|
3
Broadcom
AVGO
$1.56T
| $223M | 4.58% |
+14,318,500
| New | +$218M |
2016 Q2
0 quarters
|
|
4
Microsoft
MSFT
$3.88T
| $222M | 4.58% |
4,346,860
+1,386,660
| +47% | +$72.1M |
2015 Q3
3 quarters
|
|
|
CELG
5
DELISTED
Celgene Corp
CELG
| $215M | 4.42% |
2,176,000
+591,500
| +37% | +$61.2M |
2016 Q1
1 quarter
|
|
6
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$802B
| $183M | 3.78% |
875,100
+765,100
| +696% | +$159M |
2016 Q1
1 quarter
|
|
|
7
Constellation Brands
STZ
$22.9B
| $174M | 3.58% |
1,051,500
+992,500
| +1,682% | +$155M |
2015 Q4
2 quarters
|
|
|
MON
8
DELISTED
Monsanto Co
MON
| $170M | 3.5% |
+1,644,000
| New | +$163M |
2016 Q2
0 quarters
|
|
|
9
Charter Communications
CHTR
$12.8B
| $169M | 3.49% |
740,942
-712,047
| -49% | -$153M |
2015 Q1
5 quarters
|
|
|
AGN
10
DELISTED
Allergan plc
AGN
| $163M | 3.37% |
707,456
-896,736
| -56% | -$207M |
2015 Q4
2 quarters
|
|
|
TSG
11
DELISTED
The Stars Group Inc.
TSG
| $123M | 2.54% |
8,058,235
+653,048
| +9% | +$8.99M |
2015 Q2
4 quarters
|
|
12
Pampa Energía
PAM
$3.89B
| $121M | 2.49% |
4,426,903
| – | – |
2014 Q3
7 quarters
|
|
13
VanEck Gold Miners ETF
GDX
$23.7B
| $116M | 2.4% |
4,201,700
+3,355,979
| +397% | +$80.6M |
2016 Q1
1 quarter
|
|
14
Union Pacific
UNP
$181B
| $115M | 2.37% |
+1,320,200
| New | +$112M |
2016 Q2
0 quarters
|
|
15
Alphabet (Google) Class A
GOOGL
$3.44T
| $112M | 2.3% |
3,171,820
+1,702,320
| +116% | +$62.5M |
2015 Q4
2 quarters
|
|
|
MON
16
CALL
DELISTED
Monsanto Co
MON
| $100M | 2.06% |
+969,000
| New | +$96M |
2016 Q2
0 quarters
|
|
17
DELISTED
Southwestern Energy Company
SWN
| $96.4M | 1.99% |
7,666,753
+4,512,453
| +143% | +$54.7M |
2016 Q1
1 quarter
|
|
18
DELISTED
Coterra Energy
CTRA
| $96.3M | 1.98% |
3,742,000
+2,580,000
| +222% | +$61.9M |
2016 Q1
1 quarter
|
|
|
CPN
19
DELISTED
Calpine Corporation
CPN
| $90.8M | 1.87% |
6,159,194
+3,927,694
| +176% | +$58.2M |
2015 Q4
2 quarters
|
|
20
Comcast
CMCSA
$82.5B
| $87.4M | 1.8% |
2,682,938
-903,800
| -25% | -$28.1M |
2013 Q3
11 quarters
|
|
|
EGN
21
DELISTED
Energen
EGN
| $77.1M | 1.59% |
+1,599,900
| New | +$69.6M |
2016 Q2
0 quarters
|
|
22
Ovintiv
OVV
$20.1B
| $62.2M | 1.28% |
1,597,760
+1,304,820
| +445% | +$47.8M |
2016 Q1
1 quarter
|
|
23
DELISTED
Dynegy, Inc.
DYN
| $61.3M | 1.26% |
3,554,629
+3,447,229
| +3,210% | +$59.9M |
2016 Q1
1 quarter
|
|
|
ENDP
24
DELISTED
Endo International plc
ENDP
| $56.8M | 1.17% |
+3,640,700
| New | +$75.4M |
2016 Q2
0 quarters
|
|
25
Range Resources
RRC
$12.8B
| $52.6M | 1.08% |
1,218,500
+1,176,600
| +2,808% | +$48.2M |
2015 Q4
2 quarters
|
|
Similar funds
PointState Capital's Q2 2016 Portfolio in Review
As of Q2 2016, PointState Capital held 153 positions worth $4.85B, up 31% from $3.71B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
PointState Capital deployed $818M of net new capital in Q2 2016, opening 63 new positions and adding to 23 existing holdings. Its largest new stake was Broadcom: 14,318,500 shares worth $223M.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, down from 39% a quarter earlier, followed by Energy and Communication Services.
On the sell side, the largest reduction was Allergan plc, an estimated $207M trimmed.
- PointState Capital's largest Q2 2016 buy was Broadcom: 14,318,500 shares worth $223M.
- PointState Capital added most to Teva Pharmaceutical Industries Limited in Q2 2016, an estimated $356M increase.
- PointState Capital's biggest Q2 2016 reduction was Allergan plc, cutting an estimated $207M.
- PointState Capital fully exited LyondellBasell Industries in Q2 2016, selling an estimated $371M.
- PointState Capital's ten largest holdings make up 54% of its $4.85B portfolio in Q2 2016.
- PointState Capital opened 63 new positions and closed 45 in Q2 2016.
- PointState Capital's portfolio value rose 31% quarter-over-quarter to $4.85B.
Based on PointState Capital's 13F filing for Q2 2016, filed 15 Aug 2016.