PC

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
+12.96%
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
$6.7B
AUM Growth
+$140M
Cap. Flow
+$450M
Cap. Flow %
6.73%
Top 10 Hldgs %
44.29%
Holding
69
New
16
Increased
18
Reduced
15
Closed
12
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.4 years
Top 20 Avg Time Held Equity + Options
0.6 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.4 years
Top 20 Avg Time Held Equity only
0.6 years

Top Buys

Rank Stock Value
1
STUB icon
StubHub Holdings
STUB
+$380M
2
CRS icon
Carpenter Technology
CRS
+$177M
3
NTRA icon
Natera
NTRA
+$156M
4
RBRK icon
Rubrik
RBRK
+$146M
5
TLN icon
Talen Energy Corp
TLN
+$103M

Top Sells

Rank Stock Value
1
LITE icon
Lumentum
LITE
+$241M
2
BAC icon
Bank of America
BAC
+$144M
3
EWY icon
iShares MSCI South Korea ETF
EWY
+$134M
4
XYZ icon
Block Inc
XYZ
+$127M
5
ILMN icon
Illumina
ILMN
+$114M

Sector Composition

Rank Sector Weight
1 Miscellaneous 16.92%
2 Healthcare 15.8%
3 Technology 15.73%
4 Industrials 11.53%
5 Financials 9.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
GLW icon
1
Corning
GLW
$121B
$493M 7.35%
6,004,652
-152,985
-2% -$10M
2025 Q1
2 quarters
TEVA icon
2
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
$418M 6.25%
20,712,398
– –
2024 Q1
6 quarters
STUB icon
3
StubHub Holdings
STUB
$2.13B
$349M 5.21%
+20,706,003
New +$380M
2025 Q3
0 quarters
GLW icon
4
CALL
Corning
GLW
$121B
$345M 5.14%
4,200,000
– –
2025 Q1
2 quarters
NVT icon
5
nVent Electric
NVT
$24.7B
$244M 3.64%
2,472,395
-16,307
-0.7% -$1.42M
2025 Q1
2 quarters
SCHW icon
6
Charles Schwab
SCHW
$167B
$230M 3.43%
2,408,147
– –
2024 Q4
3 quarters
TLN icon
7
Talen Energy Corp
TLN
$17B
$227M 3.38%
532,857
+284,588
+115% +$103M
2025 Q1
2 quarters
PCG icon
8
CALL
PG&E
PCG
$39.5B
$226M 3.38%
15,000,000
+1,000,000
+7% +$14.6M
2025 Q2
1 quarter
COF icon
9
Capital One
COF
$119B
$225M 3.35%
1,056,350
+20,840
+2% +$4.56M
2024 Q4
3 quarters
PCG icon
10
PG&E
PCG
$39.5B
$211M 3.16%
14,022,157
+353,717
+3% +$5.16M
2025 Q1
2 quarters
CRS icon
11
Carpenter Technology
CRS
$18.8B
$206M 3.07%
838,123
+693,834
+481% +$177M
2025 Q2
1 quarter
AMZN icon
12
Amazon
AMZN
$2.74T
$192M 2.86%
872,280
-7,115
-0.8% -$1.61M
2025 Q1
2 quarters
EEM icon
13
CALL
iShares MSCI Emerging Markets ETF
EEM
$29.8B
$187M 2.79%
+3,500,000
New +$176M
2025 Q3
0 quarters
NTRA icon
14
Natera
NTRA
$56.9B
$181M 2.71%
1,126,405
+985,963
+702% +$156M
2024 Q2
5 quarters
ILMN icon
15
Illumina
ILMN
$41B
$171M 2.55%
1,800,007
-1,150,354
-39% -$114M
2024 Q3
4 quarters
CPNG icon
16
Coupang
CPNG
$25.9B
$164M 2.45%
5,089,150
+854,896
+20% +$25.8M
2023 Q1
10 quarters
RKT icon
17
Rocket Companies
RKT
$29.8B
$162M 2.42%
8,366,054
+4,836,786
+137% +$84.3M
2025 Q2
1 quarter
CRH icon
18
CRH
CRH
$52.7B
$157M 2.34%
1,308,329
+5,341
+0.4% +$564K
2024 Q2
5 quarters
ILMN icon
19
CALL
Illumina
ILMN
$41B
$156M 2.34%
1,646,900
+12,400
+0.8% +$1.23M
2024 Q4
3 quarters
FLUT icon
20
Flutter Entertainment
FLUT
$12.9B
$153M 2.28%
601,433
-155,060
-20% -$45.4M
2024 Q2
5 quarters
CX icon
21
Cemex
CX
$13.7B
$150M 2.25%
16,730,759
-3,244,142
-16% -$27.7M
2025 Q2
1 quarter
CCC icon
22
CCC Intelligent Solutions
CCC
$4.5B
$149M 2.23%
16,365,086
+6,272,085
+62% +$60.7M
2025 Q2
1 quarter
WCC icon
23
WESCO International
WCC
$17.1B
$146M 2.18%
689,098
+410,504
+147% +$86.2M
2024 Q2
5 quarters
RBRK icon
24
Rubrik
RBRK
$23.6B
$140M 2.09%
+1,702,347
New +$146M
2025 Q3
0 quarters
GLNG icon
25
Golar LNG
GLNG
$4.7B
$133M 1.99%
3,295,023
+486,576
+17% +$20.1M
2024 Q4
3 quarters
1
2 3

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PointState Capital's Q3 2025 Portfolio in Review

As of Q3 2025, PointState Capital held 69 positions worth $6.7B, up 2.1% from $6.56B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

PointState Capital deployed $450M of net new capital in Q3 2025, opening 16 new positions and adding to 18 existing holdings. Its largest new stake was StubHub Holdings: 20,706,003 shares worth $349M.

By sector, the portfolio is most concentrated in Miscellaneous at 17% of assets, down from 32% a quarter earlier, followed by Healthcare and Technology.

On the sell side, the largest reduction was Illumina, an estimated $114M trimmed.

  • PointState Capital's largest Q3 2025 buy was StubHub Holdings: 20,706,003 shares worth $349M.
  • PointState Capital added most to Carpenter Technology in Q3 2025, an estimated $177M increase.
  • PointState Capital's biggest Q3 2025 reduction was Illumina, cutting an estimated $114M.
  • PointState Capital fully exited Lumentum in Q3 2025, selling an estimated $241M.
  • PointState Capital's ten largest holdings make up 44% of its $6.7B portfolio in Q3 2025.
  • PointState Capital opened 16 new positions and closed 12 in Q3 2025.
  • PointState Capital's portfolio value rose 2.1% quarter-over-quarter to $6.7B.

Based on PointState Capital's 13F filing for Q3 2025, filed 14 Nov 2025.