PointState Capital LP
Institutional investor · Portfolio as of Q4 2025
Top Holdings59 positions
 VANECK ETF TRUST | 1.4M | $497M | 7.3% | — | — | — | New — |
 StubHub Holdings, Inc. | 24.8M | $335.9M | 4.9% | $16.29 | -16.95% | 2 qtrssince 2025-Q3 | Increased 68 |
 Flutter Entertainment plc | 1.4M | $301M | 4.4% | $222.31 | -3.27% | 7 qtrssince 2024-Q2 | Increased 92 |
 Constellation Energy Corporation | 827,626 | $292.4M | 4.3% | $351.71 | -20.85% | 1 qtr | New 86 |
 Amazon.com, Inc. | 1.3M | $290M | 4.3% | $214.39 | +7.66% | 4 qtrssince 2025-Q1 | Increased 77 |
 nVent Electric plc | 2.4M | $242.6M | 3.6% | $51.66 | +96.14% | 4 qtrssince 2025-Q1 | Decreased 0 |
 The Charles Schwab Corporation | 2.4M | $240.6M | 3.5% | $72.40 | +28.97% | 5 qtrssince 2024-Q4 | Unchanged 0 |
 Cemex, S.A.B. de C.V. | 17.3M | $198.6M | 2.9% | $7.02 | +62.39% | 3 qtrssince 2025-Q2 | Increased 54 |
 Freeport-McMoRan, Inc. | 3.9M | $198.5M | 2.9% | $50.32 | 0.00% | 1 qtr | New 79 |
 Carpenter Technology Corporation | 612,211 | $192.7M | 2.8% | $250.10 | +25.63% | 3 qtrssince 2025-Q2 | Decreased 0 |
 PG&E Corporation | 11.8M | $189.5M | 2.8% | $16.85 | -5.56% | 4 qtrssince 2025-Q1 | Decreased 0 |
 Coupang, Inc. | 7.9M | $185.5M | 2.7% | $20.75 | +13.66% | 12 qtrssince 2023-Q1 | Increased 74 |
 Capital One Financial Corporation | 758,066 | $183.7M | 2.7% | $175.21 | +36.73% | 5 qtrssince 2024-Q4 | Decreased 0 |
 Caris Life Sciences, Inc. | 6.7M | $181.3M | 2.7% | $27.56 | -2.10% | 3 qtrssince 2025-Q2 | Increased 78 |
 Aramark | 4.7M | $174.6M | 2.6% | — | — | 14 qtrssince 2022-Q3 | Increased 71 |
 Natera, Inc. | 715,495 | $163.9M | 2.4% | $156.35 | +46.53% | 7 qtrssince 2024-Q2 | Decreased 0 |
 Grab Holdings Limited | 32.6M | $162.5M | 2.4% | $4.89 | +2.07% | 6 qtrssince 2024-Q3 | Increased 84 |
 Rubrik, Inc. | 2.1M | $160.6M | 2.4% | $81.16 | -5.76% | 2 qtrssince 2025-Q3 | Increased 63 |
 CCC Intelligent Solutions Holdings Inc. | 18.9M | $150.5M | 2.2% | $9.11 | -34.16% | 3 qtrssince 2025-Q2 | Increased 60 |
 WESCO International, Inc. | 612,505 | $149.8M | 2.2% | $190.15 | +28.04% | 7 qtrssince 2024-Q2 | Decreased 0 |
| Quarter | Reported value in US dollars | Reported value change |
|---|---|---|
| 2024-Q3 | $5,511,414,963 | 19.7789894308% |
| 2024-Q4 | $5,485,679,317 | -0.466951702472% |
| 2025-Q1 | $6,900,259,200 | 25.7867768285% |
| 2025-Q2 | $6,558,891,129 | -4.94717750603% |
| 2025-Q3 | $6,698,460,282 | 2.12793824833% |
| 2025-Q4 | $6,791,289,893 | 1.38583505898% |
PointState Capital LP manages $6.8B across 59 positions as of Q4 2025. Top holdings: SMH puts (7.3%), STUB (4.9%), FLUT (4.4%). Fund DNA: Momentum Trader. HoldingsIntel Score: 1/5.0.
Active quarter - 15 new positions, 11 exits, 23 increased. Top move: FLUT (INCREASED, conviction 92). Portfolio: $6.8B across 59 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer
Verify source filings on SEC EDGAR