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 |
Alphabet (Google) Class A
GOOGL
|
+$363M |
| 2 |
Wells Fargo
WFC
|
+$234M |
| 3 |
Constellation Brands
STZ
|
+$173M |
| 4 |
Salesforce
CRM
|
+$160M |
| 5 |
EQT Corp
EQT
|
+$159M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$213M |
| 2 |
Amazon
AMZN
|
+$205M |
| 3 |
RICE
Rice Energy Inc.
RICE
|
+$157M |
| 4 |
Autodesk
ADSK
|
+$140M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$125M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 14.68% |
| 2 | Miscellaneous | 14.58% |
| 3 | Communication Services | 14.29% |
| 4 | Energy | 12.1% |
| 5 | Industrials | 11.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$804B
| $692M | 5.88% |
2,755,000
+1,876,800
| +214% | +$463M |
2016 Q4
3 quarters
|
|
|
2
Alphabet (Google) Class A
GOOGL
$3.64T
| $645M | 5.48% |
13,254,620
+7,651,080
| +137% | +$363M |
2015 Q4
7 quarters
|
|
3
PUT
Invesco QQQ Trust
QQQ
$466B
| $491M | 4.17% |
3,376,100
+2,494,400
| +283% | +$357M |
2017 Q1
2 quarters
|
|
4
Meta Platforms (Facebook)
META
$1.59T
| $482M | 4.1% |
2,823,076
+147,897
| +6% | +$24.7M |
2016 Q3
4 quarters
|
|
|
5
Wells Fargo
WFC
$259B
| $459M | 3.9% |
8,317,754
+4,402,582
| +112% | +$234M |
2016 Q3
4 quarters
|
|
6
Citigroup
C
$206B
| $420M | 3.57% |
5,770,909
+966,449
| +20% | +$66M |
2017 Q2
1 quarter
|
|
7
DELISTED
Coterra Energy
CTRA
| $371M | 3.15% |
13,858,422
-4,153,467
| -23% | -$106M |
2016 Q1
6 quarters
|
|
8
Pampa Energía
PAM
$3.35B
| $330M | 2.8% |
5,065,012
| – | – |
2014 Q3
12 quarters
|
|
9
DuPont de Nemours
DD
$20.6B
| $317M | 2.69% |
1,806,777
+516,465
| +40% | +$86.2M |
2017 Q1
2 quarters
|
|
10
MGM Resorts International
MGM
$8.43B
| $289M | 2.45% |
8,857,256
+1,207,956
| +16% | +$38.9M |
2017 Q2
1 quarter
|
|
11
Boeing
BA
$138B
| $287M | 2.44% |
1,129,500
+680,000
| +151% | +$159M |
2017 Q2
1 quarter
|
|
|
12
Bank of America
BAC
$349B
| $274M | 2.33% |
10,818,290
-8,757,327
| -45% | -$213M |
2016 Q3
4 quarters
|
|
13
Comcast
CMCSA
$89.5B
| $272M | 2.32% |
7,081,351
-2,108,787
| -23% | -$83.1M |
2013 Q3
16 quarters
|
|
|
14
Autodesk
ADSK
$54.3B
| $250M | 2.12% |
2,226,488
-1,266,412
| -36% | -$140M |
2017 Q1
2 quarters
|
|
15
Broadcom
AVGO
$1.72T
| $247M | 2.1% |
10,183,450
+3,628,000
| +55% | +$89.7M |
2016 Q2
5 quarters
|
|
|
16
Amazon
AMZN
$2.91T
| $237M | 2.02% |
4,939,360
-4,169,060
| -46% | -$205M |
2016 Q1
6 quarters
|
|
17
Banco Macro
BMA
$3.59B
| $218M | 1.85% |
1,857,093
+139,293
| +8% | +$13.5M |
2015 Q2
9 quarters
|
|
|
CLVS
18
DELISTED
Clovis Oncology, Inc.
CLVS
| $195M | 1.66% |
2,366,449
+371,310
| +19% | +$29.4M |
2015 Q1
10 quarters
|
|
19
CSX Corp
CSX
$96.6B
| $190M | 1.62% |
10,509,102
+7,738,917
| +279% | +$133M |
2016 Q3
4 quarters
|
|
|
20
Constellation Brands
STZ
$24.6B
| $177M | 1.5% |
887,400
+876,000
| +7,684% | +$173M |
2015 Q4
7 quarters
|
|
21
LyondellBasell Industries
LYB
$20.4B
| $167M | 1.42% |
1,682,833
+1,108,133
| +193% | +$100M |
2016 Q4
3 quarters
|
|
|
22
EQT Corp
EQT
$33.2B
| $166M | 1.41% |
+4,680,680
| New | +$159M |
2017 Q3
0 quarters
|
|
|
23
Salesforce
CRM
$177B
| $162M | 1.38% |
+1,735,407
| New | +$160M |
2017 Q3
0 quarters
|
|
24
Ovintiv
OVV
$17.2B
| $160M | 1.36% |
+2,723,980
| New | +$133M |
2017 Q3
0 quarters
|
|
25
Alibaba
BABA
$236B
| $157M | 1.34% |
910,247
-459,650
| -34% | -$74.5M |
2017 Q1
2 quarters
|
|
Similar funds
PointState Capital's Q3 2017 Portfolio in Review
As of Q3 2017, PointState Capital held 191 positions worth $11.8B, up 28% from $9.21B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
PointState Capital deployed $900M of net new capital in Q3 2017, opening 59 new positions and adding to 40 existing holdings. Its largest new stake was Salesforce: 1,735,407 shares worth $162M.
By sector, the portfolio is most concentrated in Financials at 15% of assets, down from 16% a quarter earlier, followed by Miscellaneous and Communication Services.
On the sell side, the largest reduction was Bank of America, an estimated $213M trimmed.
- PointState Capital's largest Q3 2017 buy was Salesforce: 1,735,407 shares worth $162M.
- PointState Capital added most to Alphabet (Google) Class A in Q3 2017, an estimated $363M increase.
- PointState Capital's biggest Q3 2017 reduction was Bank of America, cutting an estimated $213M.
- PointState Capital fully exited Electronic Arts in Q3 2017, selling an estimated $109M.
- PointState Capital's ten largest holdings make up 38% of its $11.8B portfolio in Q3 2017.
- PointState Capital opened 59 new positions and closed 39 in Q3 2017.
- PointState Capital's portfolio value rose 28% quarter-over-quarter to $11.8B.
Based on PointState Capital's 13F filing for Q3 2017, filed 14 Nov 2017.