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 |
LyondellBasell Industries
LYB
|
+$572M |
| 2 |
Wells Fargo
WFC
|
+$202M |
| 3 |
Comcast
CMCSA
|
+$195M |
| 4 |
KeyCorp
KEY
|
+$162M |
| 5 |
Halliburton
HAL
|
+$116M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$416M |
| 2 |
Amazon
AMZN
|
+$342M |
| 3 |
Broadcom
AVGO
|
+$304M |
| 4 |
Bank of America
BAC
|
+$283M |
| 5 |
Bausch Health
BHC
|
+$209M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 22.13% |
| 2 | Miscellaneous | 15.83% |
| 3 | Energy | 15.48% |
| 4 | Materials | 13.12% |
| 5 | Healthcare | 11.75% |
| 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
$796B
| $771M | 11.1% |
3,450,000
-7,020,000
| -67% | -$1.53B |
2016 Q1
3 quarters
|
|
|
2
LyondellBasell Industries
LYB
$19.2B
| $585M | 8.41% |
+6,816,267
| New | +$572M |
2016 Q4
0 quarters
|
|
|
3
Comcast
CMCSA
$87.9B
| $282M | 4.06% |
8,179,538
+5,838,400
| +249% | +$195M |
2013 Q3
13 quarters
|
|
|
4
Wells Fargo
WFC
$257B
| $248M | 3.57% |
4,501,600
+4,010,200
| +816% | +$202M |
2016 Q3
1 quarter
|
|
5
Citizens Financial Group
CFG
$27.3B
| $238M | 3.43% |
6,691,703
+933,636
| +16% | +$28.3M |
2016 Q3
1 quarter
|
|
|
6
KeyCorp
KEY
$22.6B
| $188M | 2.7% |
+10,266,509
| New | +$162M |
2016 Q4
0 quarters
|
|
|
7
Halliburton
HAL
$26.4B
| $166M | 2.39% |
3,075,902
+2,319,002
| +306% | +$116M |
2016 Q1
3 quarters
|
|
8
DELISTED
Anadarko Petroleum
APC
| $160M | 2.31% |
2,299,082
+650,182
| +39% | +$42.3M |
2016 Q3
1 quarter
|
|
9
Pampa Energía
PAM
$3.48B
| $160M | 2.3% |
4,598,312
+171,409
| +4% | +$5.82M |
2014 Q3
9 quarters
|
|
|
10
Bank of America
BAC
$350B
| $154M | 2.22% |
6,977,261
-14,708,124
| -68% | -$283M |
2016 Q3
1 quarter
|
|
|
CXO
11
DELISTED
CONCHO RESOURCES INC.
CXO
| $142M | 2.04% |
1,068,160
+161,111
| +18% | +$21.9M |
2016 Q3
1 quarter
|
|
|
CLVS
12
DELISTED
Clovis Oncology, Inc.
CLVS
| $141M | 2.03% |
3,171,978
+367,214
| +13% | +$12.9M |
2015 Q1
7 quarters
|
|
|
ALXN
13
DELISTED
Alexion Pharmaceuticals
ALXN
| $136M | 1.95% |
1,108,950
+915,250
| +473% | +$112M |
2016 Q3
1 quarter
|
|
14
Southwest Airlines
LUV
$22.7B
| $124M | 1.79% |
2,491,535
+2,257,235
| +963% | +$101M |
2016 Q2
2 quarters
|
|
15
General Dynamics
GD
$97.8B
| $122M | 1.76% |
707,695
+448,095
| +173% | +$73.3M |
2016 Q3
1 quarter
|
|
16
Fifth Third Bancorp
FITB
$49.1B
| $122M | 1.75% |
+4,522,400
| New | +$108M |
2016 Q4
0 quarters
|
|
17
DaVita
DVA
$11.7B
| $119M | 1.71% |
+1,850,200
| New | +$115M |
2016 Q4
0 quarters
|
|
18
Ovintiv
OVV
$16.3B
| $108M | 1.56% |
1,841,567
-725,011
| -28% | -$41.3M |
2016 Q1
3 quarters
|
|
19
PNC Financial Services
PNC
$91.9B
| $107M | 1.53% |
+911,300
| New | +$94.7M |
2016 Q4
0 quarters
|
|
|
20
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$796B
| $99.1M | 1.43% |
+443,400
| New | +$96.9M |
2016 Q4
0 quarters
|
|
21
Nucor
NUE
$56.5B
| $93.2M | 1.34% |
1,565,895
+395,795
| +34% | +$22.1M |
2016 Q3
1 quarter
|
|
22
United Rentals
URI
$68.4B
| $89.3M | 1.29% |
846,200
+290,300
| +52% | +$26.4M |
2016 Q3
1 quarter
|
|
|
23
Broadcom
AVGO
$1.58T
| $87.5M | 1.26% |
4,949,450
-17,549,050
| -78% | -$304M |
2016 Q2
2 quarters
|
|
24
Steel Dynamics
STLD
$32.4B
| $82.9M | 1.19% |
+2,330,947
| New | +$73.4M |
2016 Q4
0 quarters
|
|
25
Morgan Stanley
MS
$293B
| $82.2M | 1.18% |
+1,946,300
| New | +$73.6M |
2016 Q4
0 quarters
|
|
Similar funds
PointState Capital's Q4 2016 Portfolio in Review
As of Q4 2016, PointState Capital held 191 positions worth $6.95B, down 28% from $9.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
PointState Capital withdrew a net $1.8B in Q4 2016, closing 75 positions and reducing 38 holdings. Its most notable exit was Teva Pharmaceutical Industries Limited, an estimated $416M position sold in full.
By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 7.8% a quarter earlier, followed by Miscellaneous and Energy.
Against the trend, PointState Capital opened a new position in LyondellBasell Industries worth $585M.
- PointState Capital's largest Q4 2016 buy was LyondellBasell Industries: 6,816,267 shares worth $585M.
- PointState Capital added most to Wells Fargo in Q4 2016, an estimated $202M increase.
- PointState Capital's biggest Q4 2016 reduction was Amazon, cutting an estimated $342M.
- PointState Capital fully exited Teva Pharmaceutical Industries Limited in Q4 2016, selling an estimated $416M.
- PointState Capital's ten largest holdings make up 42% of its $6.95B portfolio in Q4 2016.
- PointState Capital opened 39 new positions and closed 75 in Q4 2016.
- PointState Capital's portfolio value fell 28% quarter-over-quarter to $6.95B.
Based on PointState Capital's 13F filing for Q4 2016, filed 14 Feb 2017.