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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
-0.61%
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
$7.9B
AUM Growth
+$1.11B
Cap. Flow
-$1.04B
Cap. Flow %
-13.14%
Top 10 Hldgs %
71.24%
Holding
73
New
14
Increased
11
Reduced
17
Closed
28

Top Buys

Rank Stock Value
1
DASH icon
DoorDash
DASH
+$237M
2
EWY icon
iShares MSCI South Korea ETF
EWY
+$215M
3
Q
Qnity Electronics Inc
Q
+$185M
4
PCG icon
PG&E
PCG
+$165M
5
ENTG icon
Entegris
ENTG
+$131M

Top Sells

Rank Stock Value
1
CEG icon
Constellation Energy
CEG
+$292M
2
AMZN icon
Amazon
AMZN
+$290M
3
SCHW
Charles Schwab
SCHW
+$241M
4
FCX icon
Freeport-McMoran
FCX
+$236M
5
CRS icon
Carpenter Technology
CRS
+$218M

Sector Composition

Rank Sector Weight
1 Miscellaneous 49.39%
2 Technology 12.27%
3 Industrials 8.91%
4 Consumer Discretionary 5.79%
5 Healthcare 5.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$827B
$3.32B 42%
+5,100,000
New +$3.47B
PCG icon
2
PG&E
PCG
$39.5B
$377M 4.78%
21,467,215
+9,672,218
+82% +$165M
CX icon
3
Cemex
CX
$15.8B
$289M 3.66%
25,243,519
+7,960,273
+46% +$94.9M
DASH icon
4
DoorDash
DASH
$100B
$275M 3.48%
1,829,987
+1,284,423
+235% +$237M
IWM icon
5
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$273M 3.45%
+1,100,000
New +$284M
NVT icon
6
nVent Electric
NVT
$25.2B
$260M 3.29%
2,196,528
-182,330
-8% -$20.7M
XYZ
7
Block Inc
XYZ
$51B
$239M 3.03%
3,977,687
+1,920,463
+93% +$117M
EWY icon
8
iShares MSCI South Korea ETF
EWY
$28.3B
$212M 2.68%
+1,720,621
New +$215M
Q
9
Qnity Electronics Inc
Q
$26.4B
$201M 2.54%
+1,737,944
New +$185M
ARMK icon
10
Aramark
ARMK
$15.5B
$184M 2.33%
4,532,293
-205,353
-4% -$8.15M
RBRK icon
11
Rubrik
RBRK
$22B
$179M 2.26%
3,646,244
+1,546,244
+74% +$88.7M
GRAB icon
12
Grab
GRAB
$14.7B
$155M 1.96%
42,272,380
+9,716,897
+30% +$41.2M
WAB icon
13
Wabtec
WAB
$50.2B
$150M 1.9%
600,656
+42,297
+8% +$10.2M
NTRA icon
14
Natera
NTRA
$48.8B
$148M 1.87%
739,879
+24,384
+3% +$5.25M
FLUT icon
15
Flutter Entertainment
FLUT
$16.5B
$144M 1.83%
1,416,572
+16,837
+1% +$2.43M
CAI
16
Caris Life Sciences
CAI
$7.45B
$132M 1.67%
7,360,446
+641,739
+10% +$14M
ENTG icon
17
Entegris
ENTG
$22.2B
$130M 1.65%
+1,112,040
New +$131M
GLNG icon
18
Golar LNG
GLNG
$5.26B
$127M 1.61%
2,346,795
-1,585,309
-40% -$69.9M
STUB
19
StubHub Holdings
STUB
$2.5B
$126M 1.59%
20,126,701
-4,696,634
-19% -$48.9M
COF icon
20
Capital One
COF
$133B
$124M 1.58%
682,080
-75,986
-10% -$15.9M
EWZ icon
21
iShares MSCI Brazil ETF
EWZ
$8.2B
$93M 1.18%
+2,422,975
New +$88.6M
WAY
22
Waystar Holding Corp
WAY
$4.84B
$90.8M 1.15%
3,767,798
+994,557
+36% +$26.4M
WCC
23
WESCO International
WCC
$17.1B
$80.7M 1.02%
295,107
-317,398
-52% -$89.1M
GGAL icon
24
Galicia Financial Group
GGAL
$6.89B
$60.6M 0.77%
1,296,753
-296,237
-19% -$14.4M
RMBS icon
25
Rambus
RMBS
$9.88B
$60.3M 0.76%
+701,307
New +$70M
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 Q1 2026 Portfolio in Review

As of Q1 2026, PointState Capital held 73 positions worth $7.9B, up 16% from $6.79B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

PointState Capital withdrew a net $1.04B in Q1 2026, closing 28 positions and reducing 17 holdings. Its most notable exit was Constellation Energy, an estimated $292M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 49% of assets, up from 15% a quarter earlier, followed by Technology and Industrials.

Against the trend, PointState Capital opened a new position in iShares MSCI South Korea ETF worth $212M.

  • PointState Capital's largest Q1 2026 buy was iShares MSCI South Korea ETF: 1,720,621 shares worth $212M.
  • PointState Capital added most to DoorDash in Q1 2026, an estimated $237M increase.
  • PointState Capital's biggest Q1 2026 reduction was Freeport-McMoran, cutting an estimated $236M.
  • PointState Capital fully exited Constellation Energy in Q1 2026, selling an estimated $292M.
  • PointState Capital's ten largest holdings make up 71% of its $7.9B portfolio in Q1 2026.
  • PointState Capital opened 14 new positions and closed 28 in Q1 2026.
  • PointState Capital's portfolio value rose 16% quarter-over-quarter to $7.9B.

Based on PointState Capital's 13F filing for Q1 2026, filed 15 May 2026.