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PointState Capital LP

Q4 2025 · Filed 2026-02-17
Market Value
$5.2B
+2.8%
Holdings
60
+5
New Purchases
14
Added To
20
Closed
10
Reduced
14
Top 10 Concentration
42.6%
Turnover
40.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CEG 5.63% 0.00% +5.63% $292M
FCX 3.82% 0.00% +3.82% $199M
SQ 2.58% 0.00% +2.58% $134M
DASH 2.38% 0.00% +2.38% $124M
GRAB 3.13% 0.76% +2.37% $162M
AMZN 5.58% 3.79% +1.79% $290M
BAC 1.50% 0.00% +1.50% $78M
GGAL 1.65% 0.32% +1.33% $86M
BMA 1.49% 0.20% +1.29% $77M
WAB 2.29% 1.02% +1.27% $119M
CAI 3.49% 2.32% +1.16% $181M
COPX 1.04% 0.00% +1.04% $54M
ARMK 3.36% 2.47% +0.89% $175M
CX 3.82% 2.98% +0.85% $199M
VST 1.06% 0.24% +0.82% $55M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GLW 1.44% 9.75% -8.30% $75M
TEVA 2.28% 8.28% -6.00% $118M
TLN 0.98% 4.49% -3.51% $51M
CRH.L 0.85% 3.10% -2.26% $44M
ILMN 1.34% 3.38% -2.04% $70M
EXPE 0.00% 1.81% -1.81% $0
OKTA 0.14% 1.78% -1.64% $7M
MSFT 0.00% 1.10% -1.10% $0
RGEN 0.00% 1.08% -1.08% $0
APP 0.00% 1.03% -1.03% $0
COF 3.54% 4.44% -0.91% $184M
RKT 2.32% 3.21% -0.89% $120M
RBLX 0.00% 0.67% -0.67% $0
ROIV 0.00% 0.54% -0.54% $0
PCG 3.65% 4.18% -0.54% $190M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $368M 7.1%
Large Cap 43 $3.9B 75.5%
Mid Cap 11 $868M 16.7%
Small Cap 3 $38M 0.7%

Portfolio Analytics

Avg Market Cap
$142.2B
Median Market Cap
$25.6B
Avg P/E
45.4
Median P/E
31.5
Avg Dividend Yield
0.01%
Avg Beta
1.16
# Stocks
59
# ETFs / Funds
1

Top Holdings (60 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CEG 5.63% 827,626 $292M $353.27 +827,626 NEW
2 AMZN 5.58% 1,256,355 $290M $230.82 $98M +384,075 +44.0%
3 NVT 4.67% 2,378,858 $243M $101.97 -$1M -93,537 -3.8%
4 SCHW 4.63% 2,408,147 $241M $99.91 $11M
5 CX 3.82% 17,283,246 $199M $11.49 $48M +552,487 +3.3%
6 FCX 3.82% 3,908,710 $199M $50.79 +3,908,710 NEW
7 CRS 3.71% 612,211 $193M $314.84 -$13M -225,912 -26.9%
8 PCG 3.65% 11,794,997 $190M $16.07 -$22M -2,227,160 -15.9%
9 CPNG 3.57% 7,863,165 $185M $23.59 $22M +2,774,015 +54.5%
10 COF 3.54% 758,066 $184M $242.36 -$41M -298,284 -28.2%
11 CAI 3.49% 6,718,707 $181M $26.98 $64M +2,834,986 +73.0%
12 ARMK 3.36% 4,737,646 $175M $36.86 $50M +1,481,978 +45.5%
13 NTRA 3.16% 715,495 $164M $229.09 -$17M -410,910 -36.5%
14 GRAB 3.13% 32,555,483 $162M $4.99 $124M +26,186,329 +411.1%
15 RBRK 3.09% 2,100,000 $161M $76.48 $21M +397,653 +23.4%
16 CCCS 2.90% 18,925,086 $150M $7.95 $1M +2,560,000 +15.6%
17 WCC 2.88% 612,505 $150M $244.64 $4M -76,593 -11.1%
18 GLNG 2.82% 3,932,104 $146M $37.21 $13M +637,081 +19.3%
19 SQ 2.58% 2,057,224 $134M $65.09 +2,057,224 NEW
20 DASH 2.38% 545,564 $124M $226.48 +545,564 NEW
21 RKT 2.32% 6,223,575 $120M $19.36 -$42M -2,142,479 -25.6%
22 WAB 2.29% 558,359 $119M $213.45 $67M +300,389 +116.4%
23 TEVA 2.28% 3,793,986 $118M $31.21 -$300M -16,918,412 -81.7%
24 WAY 1.75% 2,773,241 $91M $32.75 $11M +673,469 +32.1%
25 GGAL 1.65% 1,592,990 $86M $53.94 $70M +1,004,371 +170.6%
26 BAC 1.50% 1,418,828 $78M $55.00 +1,418,828 NEW
27 BMA 1.49% 857,488 $77M $90.16 $67M +623,755 +266.9%
28 GLW 1.44% 856,764 $75M $87.56 -$418M -5,147,888 -85.7%
29 ILMN 1.34% 531,942 $70M $131.16 -$101M -1,268,065 -70.5%
30 IOT 1.19% 1,737,068 $62M $35.45 $17M +533,786 +44.4%
31 TSEM 1.09% 480,614 $56M $117.42 $36M +197,110 +69.5%
32 VST 1.06% 342,360 $55M $161.33 $43M +279,488 +444.5%
33 COPX 1.04% 752,364 $54M $71.79 +752,364 NEW
34 TLN 0.98% 135,870 $51M $374.84 -$176M -396,987 -74.5%
35 BBAR 0.93% 2,668,038 $48M $18.07 $34M +1,005,978 +60.5%
36 CRH.L 0.85% 352,765 $44M $124.80 -$113M -955,564 -73.0%
37 EXE 0.77% 361,377 $40M $110.36 $12M +94,891 +35.6%
38 ETR 0.55% 310,325 $29M $92.43 +310,325 NEW
39 PAM 0.46% 271,221 $24M $88.51 +271,221 NEW
40 VALE 0.39% 1,542,021 $20M $13.03 +1,542,021 NEW
41 LSCC 0.38% 270,613 $20M $73.58 +270,613 NEW
42 SUPV 0.35% 1,519,056 $18M $11.82 $14M +682,294 +81.5%
43 LOMA 0.28% 1,130,732 $15M $12.95 $12M +803,289 +245.3%
44 HUT.TO 0.21% 232,938 $11M $45.94 +232,938 NEW
45 UNP 0.20% 45,466 $11M $231.32 +45,466 NEW
46 EQT 0.20% 194,486 $10M $53.60 -$4M -64,828 -25.0%
47 SATS 0.18% 87,273 $9M $108.70 +87,273 NEW
48 XP 0.18% 571,756 $9M $16.37 +571,756 NEW
49 OKTA 0.14% 83,300 $7M $86.47 -$83M -898,550 -91.5%
50 ALVO 0.10% 1,049,039 $5M $5.13 -$3M
51 APP —% -$52M -72,266 -100.0% SOLD
52 ROIV —% -$27M -1,791,440 -100.0% SOLD
53 RGEN —% -$55M -409,503 -100.0% SOLD
54 NRG —% -$11M -66,812 -100.0% SOLD
55 MSFT —% -$56M -107,665 -100.0% SOLD
56 COHR —% -$23M -209,458 -100.0% SOLD
57 SRE —% -$7M -76,129 -100.0% SOLD
58 EXPE —% -$91M -427,789 -100.0% SOLD
59 PINS —% -$22M -693,103 -100.0% SOLD
60 RBLX —% -$34M -244,877 -100.0% SOLD

Options Breakdown

8 Calls $445M Call Value 1 Puts $497M Put Value 1.12 P/C Ratio

Top Calls

SymbolSharesValueStatus
CRS 450,000 $142M NEW
TEVA 3,672,100 $115M
CX 9,000,000 $103M
ILMN 646,900 $85M
PCG $0 SOLD
EEM $0 SOLD
GLW $0 SOLD
XLF $0 SOLD

Top Puts

SymbolSharesValueStatus
SMH 1,380,000 $497M NEW

New Positions

SymbolValue% Port
CEG $292M 5.63%
FCX $199M 3.82%
SQ $134M 2.58%
DASH $124M 2.38%
BAC $78M 1.50%
COPX $54M 1.04%
ETR $29M 0.55%
PAM $24M 0.46%
VALE $20M 0.39%
LSCC $20M 0.38%
HUT.TO $11M 0.21%
UNP $11M 0.20%
SATS $9M 0.18%
XP $9M 0.18%

Sold Out Positions

SymbolValue% Port
SRE —%
PINS —%
NRG —%
COHR —%
EXPE —%
APP —%
MSFT —%
ROIV —%
RGEN —%
RBLX —%
View SEC EDGAR Filings for PointState Capital LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms