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
-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
(+16%)
Cap. Flow
-$1.04B
Cap. Flow
% of AUM
-13.14%
Top 10 Holdings %
Top 10 Hldgs %
71.24%
Holding
73
New
14
Increased
11
Reduced
17
Closed
28
Avg Time Held Equity + Options
0.8
years
Top 10 Avg Time Held Equity + Options
0.1
years
Top 20 Avg Time Held Equity + Options
0.4
years
Avg Time Held Equity only
0.8
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DoorDash
DASH
|
+$237M |
| 2 |
iShares MSCI South Korea ETF
EWY
|
+$215M |
| 3 |
Qnity Electronics Inc
Q
|
+$185M |
| 4 |
PG&E
PCG
|
+$165M |
| 5 |
Entegris
ENTG
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Constellation Energy
CEG
|
+$292M |
| 2 |
Amazon
AMZN
|
+$290M |
| 3 |
Charles Schwab
SCHW
|
+$241M |
| 4 |
Freeport-McMoran
FCX
|
+$236M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| $3.32B | 42% |
+5,100,000
| New | +$3.47B |
2026 Q1
0 quarters
|
|
|
2
PG&E
PCG
$39.5B
| $377M | 4.78% |
21,467,215
+9,672,218
| +82% | +$165M |
2025 Q1
4 quarters
|
|
3
Cemex
CX
$13.7B
| $289M | 3.66% |
25,243,519
+7,960,273
| +46% | +$94.9M |
2025 Q2
3 quarters
|
|
|
4
DoorDash
DASH
$79.7B
| $275M | 3.48% |
1,829,987
+1,284,423
| +235% | +$237M |
2025 Q4
1 quarter
|
|
5
PUT
iShares Russell 2000 ETF
IWM
$76.4B
| $273M | 3.45% |
+1,100,000
| New | +$284M |
2026 Q1
0 quarters
|
|
6
nVent Electric
NVT
$24.7B
| $260M | 3.29% |
2,196,528
-182,330
| -8% | -$20.7M |
2025 Q1
4 quarters
|
|
7
Block Inc
XYZ
$45.6B
| $239M | 3.03% |
3,977,687
+1,920,463
| +93% | +$117M |
2025 Q4
1 quarter
|
|
|
8
iShares MSCI South Korea ETF
EWY
$22.8B
| $212M | 2.68% |
+1,720,621
| New | +$215M |
2026 Q1
0 quarters
|
|
|
9
Qnity Electronics Inc
Q
$25.4B
| $201M | 2.54% |
+1,737,944
| New | +$185M |
2026 Q1
0 quarters
|
|
10
Aramark
ARMK
$14.4B
| $184M | 2.33% |
4,532,293
-205,353
| -4% | -$8.15M |
2022 Q3
14 quarters
|
|
11
Rubrik
RBRK
$23.6B
| $179M | 2.26% |
3,646,244
+1,546,244
| +74% | +$88.7M |
2025 Q3
2 quarters
|
|
12
Grab
GRAB
$11.9B
| $155M | 1.96% |
42,272,380
+9,716,897
| +30% | +$41.2M |
2024 Q3
6 quarters
|
|
13
Wabtec
WAB
$48.4B
| $150M | 1.9% |
600,656
+42,297
| +8% | +$10.2M |
2025 Q3
2 quarters
|
|
14
Natera
NTRA
$56.9B
| $148M | 1.87% |
739,879
+24,384
| +3% | +$5.25M |
2024 Q2
7 quarters
|
|
15
Flutter Entertainment
FLUT
$12.9B
| $144M | 1.83% |
1,416,572
+16,837
| +1% | +$2.43M |
2024 Q2
7 quarters
|
|
16
Caris Life Sciences
CAI
$8.55B
| $132M | 1.67% |
7,360,446
+641,739
| +10% | +$14M |
2025 Q2
3 quarters
|
|
|
17
Entegris
ENTG
$23.4B
| $130M | 1.65% |
+1,112,040
| New | +$131M |
2026 Q1
0 quarters
|
|
18
Golar LNG
GLNG
$4.7B
| $127M | 1.61% |
2,346,795
-1,585,309
| -40% | -$69.9M |
2024 Q4
5 quarters
|
|
19
StubHub Holdings
STUB
$2.13B
| $126M | 1.59% |
20,126,701
-4,696,634
| -19% | -$48.9M |
2025 Q3
2 quarters
|
|
20
Capital One
COF
$119B
| $124M | 1.58% |
682,080
-75,986
| -10% | -$15.9M |
2024 Q4
5 quarters
|
|
21
iShares MSCI Brazil ETF
EWZ
$11.9B
| $93M | 1.18% |
+2,422,975
| New | +$88.6M |
2026 Q1
0 quarters
|
|
22
Waystar Holding Corp
WAY
$5.15B
| $90.8M | 1.15% |
3,767,798
+994,557
| +36% | +$26.4M |
2025 Q3
2 quarters
|
|
23
WESCO International
WCC
$17.1B
| $80.7M | 1.02% |
295,107
-317,398
| -52% | -$89.1M |
2024 Q2
7 quarters
|
|
24
Galicia Financial Group
GGAL
$5.71B
| $60.6M | 0.77% |
1,296,753
-296,237
| -19% | -$14.4M |
2024 Q2
7 quarters
|
|
25
Rambus
RMBS
$9.99B
| $60.3M | 0.76% |
+701,307
| New | +$70M |
2026 Q1
0 quarters
|
|
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MNA
BFG
PFA
FFM
EMPI
LAM
UB
IMCOOI
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.