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PointState Capital Portfolio holdings
AUM
$7.9B
1-Year Est. Return
42.31%
This Fund
S&P 500
This Quarter
Est. Return
-13.52%
1 Year Est. Return
+42.31%
3 Year Est. Return
+142.91%
5 Year Est. Return
+261%
10 Year Est. Return
+1,945.58%
AUM
$2.51B
AUM Growth
-$5.08B
(-67%)
Cap. Flow
-$4.36B
Cap. Flow
% of AUM
-173.29%
Top 10 Holdings %
Top 10 Hldgs %
56.6%
Holding
165
New
27
Increased
18
Reduced
31
Closed
81
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MSCI Emerging Markets ETF
EEM
|
+$194M |
| 2 |
T-Mobile US
TMUS
|
+$143M |
| 3 |
Amazon
AMZN
|
+$103M |
| 4 |
I
INTELSAT S. A.
I
|
+$95.6M |
| 5 |
Dollar Tree
DLTR
|
+$87M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LyondellBasell Industries
LYB
|
+$258M |
| 2 |
Targa Resources
TRGP
|
+$240M |
| 3 |
Alibaba
BABA
|
+$235M |
| 4 |
Norfolk Southern
NSC
|
+$218M |
| 5 |
ServiceNow
NOW
|
+$217M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 17.5% |
| 2 | Technology | 15.89% |
| 3 | Energy | 11.27% |
| 4 | Industrials | 10.07% |
| 5 | Consumer Discretionary | 6.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$776B
| $222M | 8.85% |
890,000
-133,400
| -13% | -$36M |
|
|
2
iShares MSCI Emerging Markets ETF
EEM
$27.5B
| $198M | 7.88% |
5,073,790
+4,834,990
| +2,025% | +$194M |
|
3
Pampa Energía
PAM
$4.57B
| $161M | 6.39% |
5,052,313
| – | – |
|
|
4
T-Mobile US
TMUS
$195B
| $150M | 5.95% |
2,350,768
+2,126,368
| +948% | +$143M |
|
5
Microsoft
MSFT
$2.93T
| $145M | 5.78% |
1,430,194
-1,814,053
| -56% | -$194M |
|
6
Adobe
ADBE
$105B
| $120M | 4.78% |
531,166
-839,634
| -61% | -$203M |
|
7
Netflix
NFLX
$301B
| $112M | 4.46% |
4,192,020
-2,084,390
| -33% | -$62.4M |
|
8
Alphabet (Google) Class A
GOOGL
$4.08T
| $111M | 4.43% |
2,129,660
-2,229,240
| -51% | -$120M |
|
9
Marathon Petroleum
MPC
$90.2B
| $107M | 4.26% |
1,815,524
-3,149,181
| -63% | -$215M |
|
|
10
Amazon
AMZN
$2.46T
| $96.3M | 3.83% |
1,281,800
+1,241,800
| +3,105% | +$103M |
|
|
11
Dollar Tree
DLTR
$24.6B
| $93.1M | 3.7% |
+1,030,432
| New | +$87M |
|
|
I
12
DELISTED
INTELSAT S. A.
I
| $78.4M | 3.12% |
3,664,695
+3,537,818
| +2,788% | +$95.6M |
|
13
Boeing
BA
$167B
| $77.3M | 3.07% |
239,540
-395,069
| -62% | -$136M |
|
14
Cheniere Energy
LNG
$54.2B
| $66.2M | 2.63% |
1,117,710
-2,238,013
| -67% | -$138M |
|
15
Qualcomm
QCOM
$168B
| $63.4M | 2.52% |
1,113,800
+769,400
| +223% | +$46.7M |
|
|
16
Targa Resources
TRGP
$57.3B
| $51.9M | 2.07% |
1,442,081
-4,966,474
| -77% | -$240M |
|
|
SHPG
17
DELISTED
Shire pic
SHPG
| $49.2M | 1.96% |
282,907
-890,932
| -76% | -$156M |
|
18
Salesforce
CRM
$154B
| $49M | 1.95% |
357,500
-435,450
| -55% | -$59.9M |
|
|
19
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$776B
| $48.2M | 1.92% |
193,000
-476,000
| -71% | -$128M |
|
20
Mastercard
MA
$502B
| $42.3M | 1.68% |
224,350
-318,893
| -59% | -$63.3M |
|
21
General Motors
GM
$81.8B
| $34.8M | 1.38% |
+1,040,700
| New | +$35.9M |
|
22
Valero Energy
VLO
$90.1B
| $30.2M | 1.2% |
+403,000
| New | +$35.4M |
|
|
23
CALL
Amazon
AMZN
$2.46T
| $27.8M | 1.11% |
+370,000
| New | +$30.8M |
|
24
Transportadora de Gas del Sur
TGS
$4.47B
| $22.4M | 0.89% |
1,550,872
-1,146,531
| -43% | -$16.3M |
|
25
PG&E
PCG
$39.3B
| $20.9M | 0.83% |
879,400
+724,556
| +468% | +$25.9M |
|
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PointState Capital's Q4 2018 Portfolio in Review
As of Q4 2018, PointState Capital held 165 positions worth $2.51B, down 67% from $7.59B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
PointState Capital withdrew a net $4.36B in Q4 2018, closing 81 positions and reducing 31 holdings. Its most notable exit was LyondellBasell Industries, an estimated $258M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 17% of assets, up from 8% a quarter earlier, followed by Technology and Energy.
Against the trend, PointState Capital opened a new position in Dollar Tree worth $93.1M.
- PointState Capital's largest Q4 2018 buy was Dollar Tree: 1,030,432 shares worth $93.1M.
- PointState Capital added most to iShares MSCI Emerging Markets ETF in Q4 2018, an estimated $194M increase.
- PointState Capital's biggest Q4 2018 reduction was Targa Resources, cutting an estimated $240M.
- PointState Capital fully exited LyondellBasell Industries in Q4 2018, selling an estimated $258M.
- PointState Capital's ten largest holdings make up 57% of its $2.51B portfolio in Q4 2018.
- PointState Capital opened 27 new positions and closed 81 in Q4 2018.
- PointState Capital's portfolio value fell 67% quarter-over-quarter to $2.51B.
Based on PointState Capital's 13F filing for Q4 2018, filed 14 Feb 2019.