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PointState Capital Portfolio holdings

AUM $7.82B Turnover 60.87%
1-Year Est. Return 43.51%
This Fund
S&P 500
This Quarter Est. Return
+17.46%
1 Year Est. Return
+43.51%
3 Year Est. Return
+157.95%
5 Year Est. Return
+295.76%
10 Year Est. Return
+2,156.01%
AUM
$6.56B
AUM Growth
-$341M
Cap. Flow
-$595M
Cap. Flow %
-9.07%
Top 10 Hldgs %
53.38%
Holding
63
New
16
Increased
14
Reduced
20
Closed
10
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.6 years
Top 20 Avg Time Held Equity + Options
0.6 years
Avg Time Held Equity only
0.6 years
Top 10 Avg Time Held Equity only
0.3 years
Top 20 Avg Time Held Equity only
0.5 years

Top Buys

Rank Stock Value
1
CX icon
Cemex
CX
+$127M
2
EWY icon
iShares MSCI South Korea ETF
EWY
+$112M
3
XYZ icon
Block Inc
XYZ
+$109M
4
AMZN icon
Amazon
AMZN
+$101M
5
CCC icon
CCC Intelligent Solutions
CCC
+$90.3M

Top Sells

Rank Stock Value
1
WCC icon
WESCO International
WCC
+$244M
2
SRE icon
Sempra
SRE
+$155M
3
CPNG icon
Coupang
CPNG
+$144M
4
CEG icon
Constellation Energy
CEG
+$116M
5
GRAB icon
Grab
GRAB
+$106M

Sector Composition

Rank Sector Weight
1 Miscellaneous 31.53%
2 Technology 16.66%
3 Financials 12.86%
4 Healthcare 11.53%
5 Consumer Discretionary 8.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$1.24B 18.84%
2,000,000
-950,000
-32% -$543M
2020 Q2
20 quarters
TEVA icon
2
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
$347M 5.29%
20,712,398
+5,580,910
+37% +$90.1M
2024 Q1
5 quarters
GLW icon
3
Corning
GLW
$121B
$324M 4.94%
6,157,637
+606,279
+11% +$28.4M
2025 Q1
1 quarter
ILMN icon
4
Illumina
ILMN
$41B
$281M 4.29%
2,950,361
+433,534
+17% +$35.2M
2024 Q3
3 quarters
LITE icon
5
Lumentum
LITE
$81.2B
$241M 3.67%
2,532,821
-891,992
-26% -$63.3M
2025 Q1
1 quarter
GLW icon
6
CALL
Corning
GLW
$121B
$221M 3.37%
4,200,000
– –
2025 Q1
1 quarter
COF icon
7
Capital One
COF
$119B
$220M 3.36%
1,035,510
-131,245
-11% -$24.5M
2024 Q4
2 quarters
SCHW icon
8
Charles Schwab
SCHW
$167B
$220M 3.35%
2,408,147
-652,389
-21% -$54.6M
2024 Q4
2 quarters
FLUT icon
9
Flutter Entertainment
FLUT
$12.9B
$216M 3.3%
756,493
+211,789
+39% +$52M
2024 Q2
4 quarters
PCG icon
10
CALL
PG&E
PCG
$39.5B
$195M 2.98%
+14,000,000
New +$228M
2025 Q2
0 quarters
AMZN icon
11
Amazon
AMZN
$2.74T
$193M 2.94%
879,395
+510,032
+138% +$101M
2025 Q1
1 quarter
PCG icon
12
PG&E
PCG
$39.5B
$191M 2.91%
13,668,440
-86,041
-0.6% -$1.4M
2025 Q1
1 quarter
NVT icon
13
nVent Electric
NVT
$24.7B
$182M 2.78%
2,488,702
-789,067
-24% -$48.5M
2025 Q1
1 quarter
ILMN icon
14
CALL
Illumina
ILMN
$41B
$156M 2.38%
1,634,500
+1,384,500
+554% +$112M
2024 Q4
2 quarters
BAC icon
15
Bank of America
BAC
$359B
$144M 2.2%
3,044,002
+522,886
+21% +$22M
2024 Q2
4 quarters
CX icon
16
Cemex
CX
$13.7B
$138M 2.11%
+19,974,901
New +$127M
2025 Q2
0 quarters
EWY icon
17
iShares MSCI South Korea ETF
EWY
$22.8B
$134M 2.04%
+1,868,227
New +$112M
2025 Q2
0 quarters
XYZ icon
18
Block Inc
XYZ
$45.6B
$127M 1.94%
+1,869,376
New +$109M
2025 Q2
0 quarters
CPNG icon
19
Coupang
CPNG
$25.9B
$127M 1.93%
4,234,254
-5,611,682
-57% -$144M
2023 Q1
9 quarters
CRH icon
20
CRH
CRH
$52.7B
$120M 1.82%
1,302,988
-1,092,077
-46% -$99.6M
2024 Q2
4 quarters
GLNG icon
21
Golar LNG
GLNG
$4.7B
$116M 1.76%
2,808,447
+950,372
+51% +$37.5M
2024 Q4
2 quarters
ARMK icon
22
Aramark
ARMK
$14.4B
$114M 1.73%
2,715,035
-241,112
-8% -$8.95M
2022 Q3
11 quarters
CCC icon
23
CCC Intelligent Solutions
CCC
$4.5B
$95M 1.45%
+10,093,001
New +$90.3M
2025 Q2
0 quarters
GGAL icon
24
Galicia Financial Group
GGAL
$5.71B
$80.6M 1.23%
1,598,899
+94,742
+6% +$5.42M
2024 Q2
4 quarters
EXE icon
25
Expand Energy Corp
EXE
$21.1B
$72.4M 1.1%
+619,191
New +$69.1M
2025 Q2
0 quarters
1
2 3

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BFG
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PFA
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FFM
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EMPI
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LAM
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UB
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IMCOOI
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PointState Capital's Q2 2025 Portfolio in Review

As of Q2 2025, PointState Capital held 63 positions worth $6.56B, down 4.9% from $6.9B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

PointState Capital withdrew a net $595M in Q2 2025, closing 10 positions and reducing 20 holdings. Its most notable exit was Constellation Energy, an estimated $116M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 32% of assets, down from 35% a quarter earlier, followed by Technology and Financials.

Against the trend, PointState Capital opened a new position in Cemex worth $138M.

  • PointState Capital's largest Q2 2025 buy was Cemex: 19,974,901 shares worth $138M.
  • PointState Capital added most to Amazon in Q2 2025, an estimated $101M increase.
  • PointState Capital's biggest Q2 2025 reduction was WESCO International, cutting an estimated $244M.
  • PointState Capital fully exited Constellation Energy in Q2 2025, selling an estimated $116M.
  • PointState Capital's ten largest holdings make up 53% of its $6.56B portfolio in Q2 2025.
  • PointState Capital opened 16 new positions and closed 10 in Q2 2025.
  • PointState Capital's portfolio value fell 4.9% quarter-over-quarter to $6.56B.

Based on PointState Capital's 13F filing for Q2 2025, filed 14 Aug 2025.