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 |
Bank of America
BAC
|
+$323M |
| 2 |
Bausch Health
BHC
|
+$220M |
| 3 |
Humana
HUM
|
+$172M |
| 4 |
Merck
MRK
|
+$170M |
| 5 |
Adobe
ADBE
|
+$146M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$309M |
| 2 |
AGN
Allergan plc
AGN
|
+$163M |
| 3 |
CELG
Celgene Corp
CELG
|
+$124M |
| 4 |
CPN
Calpine Corporation
CPN
|
+$90.8M |
| 5 |
EGN
Energen
EGN
|
+$77.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 28.02% |
| 2 | Healthcare | 16.74% |
| 3 | Energy | 12.21% |
| 4 | Technology | 10.56% |
| 5 | Financials | 7.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$802B
| $2.26B | 23.38% |
10,470,000
+9,594,900
| +1,096% | +$2.07B |
2016 Q1
2 quarters
|
|
|
2
Teva Pharmaceutical Industries Limited
TEVA
$49.1B
| $416M | 4.29% |
9,033,053
-5,918,607
| -40% | -$309M |
2013 Q4
11 quarters
|
|
3
Amazon
AMZN
$2.6T
| $404M | 4.17% |
9,650,860
+26,000
| +0.3% | +$995K |
2016 Q1
2 quarters
|
|
4
Broadcom
AVGO
$1.56T
| $388M | 4.01% |
22,498,500
+8,180,000
| +57% | +$137M |
2016 Q2
1 quarter
|
|
|
5
Bank of America
BAC
$346B
| $339M | 3.5% |
+21,685,385
| New | +$323M |
2016 Q3
0 quarters
|
|
6
Microsoft
MSFT
$3.88T
| $246M | 2.54% |
4,270,507
-76,353
| -2% | -$4.31M |
2015 Q3
4 quarters
|
|
|
7
Bausch Health
BHC
$3.07B
| $209M | 2.16% |
+8,515,600
| New | +$220M |
2016 Q3
0 quarters
|
|
8
Union Pacific
UNP
$181B
| $181M | 1.87% |
1,858,700
+538,500
| +41% | +$50.4M |
2016 Q2
1 quarter
|
|
|
9
Humana
HUM
$49.8B
| $175M | 1.81% |
+991,622
| New | +$172M |
2016 Q3
0 quarters
|
|
|
10
Merck
MRK
$369B
| $173M | 1.78% |
+2,899,711
| New | +$170M |
2016 Q3
0 quarters
|
|
|
11
Adobe
ADBE
$97.4B
| $160M | 1.65% |
1,473,900
+1,458,400
| +9,409% | +$146M |
2016 Q2
1 quarter
|
|
12
Alphabet (Google) Class A
GOOGL
$3.44T
| $147M | 1.52% |
3,653,320
+481,500
| +15% | +$18.8M |
2015 Q4
3 quarters
|
|
13
Pampa Energía
PAM
$3.89B
| $143M | 1.48% |
4,426,903
| – | – |
2014 Q3
8 quarters
|
|
14
DELISTED
Coterra Energy
CTRA
| $142M | 1.47% |
5,515,300
+1,773,300
| +47% | +$44.4M |
2016 Q1
2 quarters
|
|
15
Citizens Financial Group
CFG
$26.7B
| $142M | 1.47% |
+5,758,067
| New | +$132M |
2016 Q3
0 quarters
|
|
|
TSG
16
DELISTED
The Stars Group Inc.
TSG
| $139M | 1.44% |
8,587,430
+529,195
| +7% | +$8.24M |
2015 Q2
5 quarters
|
|
17
Constellation Brands
STZ
$22.9B
| $138M | 1.42% |
827,527
-223,973
| -21% | -$36.9M |
2015 Q4
3 quarters
|
|
18
Ovintiv
OVV
$20.1B
| $134M | 1.39% |
2,566,578
+968,818
| +61% | +$43.5M |
2016 Q1
2 quarters
|
|
|
ATVI
19
DELISTED
Activision Blizzard
ATVI
| $134M | 1.38% |
+3,026,826
| New | +$127M |
2016 Q3
0 quarters
|
|
20
Marathon Petroleum
MPC
$125B
| $128M | 1.32% |
+3,144,079
| New | +$128M |
2016 Q3
0 quarters
|
|
|
CXO
21
DELISTED
CONCHO RESOURCES INC.
CXO
| $125M | 1.29% |
+907,049
| New | +$115M |
2016 Q3
0 quarters
|
|
22
DELISTED
Chesapeake Energy Corporation
CHK
| $122M | 1.26% |
+97,067
| New | +$112M |
2016 Q3
0 quarters
|
|
23
Charter Communications
CHTR
$12.8B
| $119M | 1.22% |
439,172
-301,770
| -41% | -$76.2M |
2015 Q1
6 quarters
|
|
|
CELG
24
DELISTED
Celgene Corp
CELG
| $108M | 1.11% |
1,031,500
-1,144,500
| -53% | -$124M |
2016 Q1
2 quarters
|
|
25
DELISTED
Anadarko Petroleum
APC
| $104M | 1.08% |
+1,648,900
| New | +$91.9M |
2016 Q3
0 quarters
|
|
Similar funds
PointState Capital's Q3 2016 Portfolio in Review
As of Q3 2016, PointState Capital held 195 positions worth $9.7B, up 100% from $4.85B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
PointState Capital deployed $2.02B of net new capital in Q3 2016, opening 84 new positions and adding to 29 existing holdings. Its largest new stake was Bank of America: 21,685,385 shares worth $339M.
By sector, the portfolio is most concentrated in Miscellaneous at 28% of assets, up from 9.5% a quarter earlier, followed by Healthcare and Energy.
On the sell side, the largest reduction was Teva Pharmaceutical Industries Limited, an estimated $309M trimmed.
- PointState Capital's largest Q3 2016 buy was Bank of America: 21,685,385 shares worth $339M.
- PointState Capital added most to Adobe in Q3 2016, an estimated $146M increase.
- PointState Capital's biggest Q3 2016 reduction was Teva Pharmaceutical Industries Limited, cutting an estimated $309M.
- PointState Capital fully exited Allergan plc in Q3 2016, selling an estimated $163M.
- PointState Capital's ten largest holdings make up 50% of its $9.7B portfolio in Q3 2016.
- PointState Capital opened 84 new positions and closed 42 in Q3 2016.
- PointState Capital's portfolio value rose 100% quarter-over-quarter to $9.7B.
Based on PointState Capital's 13F filing for Q3 2016, filed 14 Nov 2016.