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PointState Capital Portfolio holdings

AUM $7.82B
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

Top Buys

Rank Stock Value
1
STUB
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
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
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
GLW icon
1
Corning
GLW
$128B
$493M 7.35%
6,004,652
-152,985
-2% -$10M
TEVA icon
2
Teva Pharmaceuticals
TEVA
$42.5B
$418M 6.25%
20,712,398
– –
STUB
3
StubHub Holdings
STUB
$2.5B
$349M 5.21%
+20,706,003
New +$380M
GLW icon
4
CALL
Corning
GLW
$128B
$345M 5.14%
4,200,000
– –
NVT icon
5
nVent Electric
NVT
$24B
$244M 3.64%
2,472,395
-16,307
-0.7% -$1.42M
SCHW
6
Charles Schwab
SCHW
$191B
$230M 3.43%
2,408,147
– –
TLN
7
Talen Energy Corp
TLN
$14.2B
$227M 3.38%
532,857
+284,588
+115% +$103M
PCG icon
8
CALL
PG&E
PCG
$36.6B
$226M 3.38%
15,000,000
+1,000,000
+7% +$14.6M
COF icon
9
Capital One
COF
$132B
$225M 3.35%
1,056,350
+20,840
+2% +$4.56M
PCG icon
10
PG&E
PCG
$36.6B
$211M 3.16%
14,022,157
+353,717
+3% +$5.16M
CRS icon
11
Carpenter Technology
CRS
$23.6B
$206M 3.07%
838,123
+693,834
+481% +$177M
AMZN icon
12
Amazon
AMZN
$2.87T
$192M 2.86%
872,280
-7,115
-0.8% -$1.61M
EEM icon
13
CALL
iShares MSCI Emerging Markets ETF
EEM
$31.2B
$187M 2.79%
+3,500,000
New +$176M
NTRA icon
14
Natera
NTRA
$47B
$181M 2.71%
1,126,405
+985,963
+702% +$156M
ILMN icon
15
Illumina
ILMN
$32.6B
$171M 2.55%
1,800,007
-1,150,354
-39% -$114M
CPNG icon
16
Coupang
CPNG
$29.7B
$164M 2.45%
5,089,150
+854,896
+20% +$25.8M
RKT icon
17
Rocket Companies
RKT
$39B
$162M 2.42%
8,366,054
+4,836,786
+137% +$84.3M
CRH icon
18
CRH
CRH
$63.8B
$157M 2.34%
1,308,329
+5,341
+0.4% +$564K
ILMN icon
19
CALL
Illumina
ILMN
$32.6B
$156M 2.34%
1,646,900
+12,400
+0.8% +$1.23M
FLUT icon
20
Flutter Entertainment
FLUT
$17.7B
$153M 2.28%
601,433
-155,060
-20% -$45.4M
CX icon
21
Cemex
CX
$15.7B
$150M 2.25%
16,730,759
-3,244,142
-16% -$27.7M
CCC
22
CCC Intelligent Solutions
CCC
$4.41B
$149M 2.23%
16,365,086
+6,272,085
+62% +$60.7M
WCC
23
WESCO International
WCC
$16.4B
$146M 2.18%
689,098
+410,504
+147% +$86.2M
RBRK icon
24
Rubrik
RBRK
$19.2B
$140M 2.09%
+1,702,347
New +$146M
GLNG icon
25
Golar LNG
GLNG
$5.13B
$133M 1.99%
3,295,023
+486,576
+17% +$20.1M
1
2 3

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PFA
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FFM
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EMPI
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LAM
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IMCOOI
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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.