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 |
Citigroup
C
|
+$295M |
| 2 |
MGM Resorts International
MGM
|
+$236M |
| 3 |
Crown Castle
CCI
|
+$185M |
| 4 |
Alibaba
BABA
|
+$165M |
| 5 |
Coterra Energy
CTRA
|
+$161M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DuPont de Nemours
DD
|
+$395M |
| 2 |
Ovintiv
OVV
|
+$154M |
| 3 |
VIAB
Viacom Inc. Class B
VIAB
|
+$150M |
| 4 |
Diamondback Energy
FANG
|
+$120M |
| 5 |
PNC Financial Services
PNC
|
+$112M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 16% |
| 2 | Financials | 15.88% |
| 3 | Energy | 11.19% |
| 4 | Healthcare | 10.55% |
| 5 | Consumer Discretionary | 10.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Bank of America
BAC
$346B
| $475M | 5.15% |
19,575,617
+5,183,117
| +36% | +$121M |
2016 Q3
3 quarters
|
|
|
2
DELISTED
Coterra Energy
CTRA
| $452M | 4.9% |
18,011,889
+6,818,389
| +61% | +$161M |
2016 Q1
5 quarters
|
|
3
Amazon
AMZN
$2.6T
| $441M | 4.78% |
9,108,420
+2,866,000
| +46% | +$137M |
2016 Q1
5 quarters
|
|
4
Meta Platforms (Facebook)
META
$1.6T
| $404M | 4.38% |
2,675,179
-298,760
| -10% | -$44.4M |
2016 Q3
3 quarters
|
|
5
Comcast
CMCSA
$82.5B
| $358M | 3.88% |
9,190,138
+3,624,400
| +65% | +$143M |
2013 Q3
15 quarters
|
|
6
Autodesk
ADSK
$52.2B
| $352M | 3.82% |
3,492,900
-924,000
| -21% | -$91.4M |
2017 Q1
1 quarter
|
|
|
7
Citigroup
C
$203B
| $321M | 3.49% |
+4,804,460
| New | +$295M |
2017 Q2
0 quarters
|
|
8
Pampa Energía
PAM
$3.89B
| $298M | 3.24% |
5,065,012
| – | – |
2014 Q3
11 quarters
|
|
9
Alphabet (Google) Class A
GOOGL
$3.44T
| $260M | 2.83% |
5,603,540
-1,482,000
| -21% | -$69.3M |
2015 Q4
6 quarters
|
|
|
10
MGM Resorts International
MGM
$7.58B
| $239M | 2.6% |
+7,649,300
| New | +$236M |
2017 Q2
0 quarters
|
|
|
RICE
11
DELISTED
Rice Energy Inc.
RICE
| $227M | 2.46% |
8,521,214
+1,203,454
| +16% | +$26.7M |
2017 Q1
1 quarter
|
|
12
Wells Fargo
WFC
$250B
| $217M | 2.35% |
3,915,172
-1,390,328
| -26% | -$74.5M |
2016 Q3
3 quarters
|
|
13
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$802B
| $212M | 2.3% |
878,200
-440,500
| -33% | -$106M |
2016 Q4
2 quarters
|
|
|
14
DuPont de Nemours
DD
$18.9B
| $206M | 2.24% |
1,290,312
-2,486,227
| -66% | -$395M |
2017 Q1
1 quarter
|
|
15
Microsoft
MSFT
$3.88T
| $204M | 2.21% |
2,958,000
-777,360
| -21% | -$53.4M |
2015 Q3
7 quarters
|
|
|
16
Alibaba
BABA
$244B
| $193M | 2.1% |
1,369,897
+1,339,297
| +4,377% | +$165M |
2017 Q1
1 quarter
|
|
|
17
Crown Castle
CCI
$37.7B
| $188M | 2.04% |
+1,879,270
| New | +$185M |
2017 Q2
0 quarters
|
|
|
CLVS
18
DELISTED
Clovis Oncology, Inc.
CLVS
| $187M | 2.03% |
1,995,139
-30,906
| -2% | -$1.89M |
2015 Q1
9 quarters
|
|
19
T-Mobile US
TMUS
$166B
| $183M | 1.98% |
3,012,216
-809,840
| -21% | -$52.8M |
2016 Q4
2 quarters
|
|
20
Banco Macro
BMA
$3.85B
| $158M | 1.72% |
1,717,800
+1,102,900
| +179% | +$97.1M |
2015 Q2
8 quarters
|
|
21
Broadcom
AVGO
$1.56T
| $153M | 1.66% |
6,555,450
-1,345,750
| -17% | -$31.2M |
2016 Q2
4 quarters
|
|
22
SBA Communications
SBAC
$19.9B
| $149M | 1.62% |
+1,105,200
| New | +$144M |
2017 Q2
0 quarters
|
|
23
Peabody Energy
BTU
$2.7B
| $148M | 1.61% |
+6,057,459
| New | +$150M |
2017 Q2
0 quarters
|
|
24
CALL
Vertex Pharmaceuticals
VRTX
$142B
| $129M | 1.4% |
+1,000,000
| New | +$120M |
2017 Q2
0 quarters
|
|
25
PUT
Invesco QQQ Trust
QQQ
$466B
| $121M | 1.32% |
881,700
+744,200
| +541% | +$102M |
2017 Q1
1 quarter
|
|
Similar funds
PointState Capital's Q2 2017 Portfolio in Review
As of Q2 2017, PointState Capital held 194 positions worth $9.21B, down 3.9% from $9.6B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
PointState Capital withdrew a net $459M in Q2 2017, closing 60 positions and reducing 38 holdings. Its most notable exit was Ovintiv, an estimated $154M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 16% of assets, down from 18% a quarter earlier, followed by Financials and Energy.
Against the trend, PointState Capital opened a new position in Citigroup worth $321M.
- PointState Capital's largest Q2 2017 buy was Citigroup: 4,804,460 shares worth $321M.
- PointState Capital added most to Alibaba in Q2 2017, an estimated $165M increase.
- PointState Capital's biggest Q2 2017 reduction was DuPont de Nemours, cutting an estimated $395M.
- PointState Capital fully exited Ovintiv in Q2 2017, selling an estimated $154M.
- PointState Capital's ten largest holdings make up 39% of its $9.21B portfolio in Q2 2017.
- PointState Capital opened 61 new positions and closed 60 in Q2 2017.
- PointState Capital's portfolio value fell 3.9% quarter-over-quarter to $9.21B.
Based on PointState Capital's 13F filing for Q2 2017, filed 14 Aug 2017.