PointState Capital LP

CIK

1509842

Location

New York, NY

Portfolio Value

Mid $6,240,113,126

Diversification

Diversified

Filing Date

Global Rank

#481 / 8,420 ▲ 84

Top Industry

Internet Retail 9.6%

3Y Alpha vs SPY

+14.5%

Period ended 6 months ago

Filed Feb 17, 2026 · 4mo

24 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+147.8%

SPY

+76.3%

Annualised alpha

+14.5%

Max drawdown

−26.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

52 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025

Top Position

5.4%

−7.6 pts

Top 5

25.1%

−12.8 pts

Top 10

44.4%

−11.4 pts

HHI

319

Diversified−162

Portfolio Trend

24 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2025

Sector	% Portfolio	Value	Positions
Industrials	16.9%	$1,055,176,208	7
Consumer Cyclical	14.4%	$900,042,271	4
Financial Services	14.0%	$872,311,294	10
Healthcare	13.3%	$829,022,135	6
Technology	13.3%	$827,564,668	9
Utilities	9.9%	$616,766,825	5
Basic Materials	9.6%	$597,263,826	6
Communication Services	5.5%	$345,346,296	2
Energy	3.2%	$196,619,603	3

Last Quarter's Activity

Export CSV

Dec 31, 2025 vs Sep 30, 2025

Added To

Positions the filer increased

24 positions

Ticker	Company	Δ Shares	Shares	Value
GRAB	Grab Holdings Ltd	+26,186,329	32,555,483	$162,451,860
STUB	StubHub Holdings, Inc.	+4,117,332	24,823,335	$335,859,721
CAI	Caris Life Sciences, Inc.	+2,834,986	6,718,707	$181,270,714
CPNG	Coupang, Inc.	+2,774,015	7,863,165	$185,492,062
CCC	CCC Intelligent Solutions Holdings Inc.	+2,560,000	18,925,086	$150,454,433
ARMK	Aramark	+1,481,978	4,737,646	$174,629,631
BBAR	Banco BBVA Argentina S.A.	+1,005,978	2,668,038	$48,211,446
GGAL	Grupo Financiero Galicia SA	+1,004,371	1,592,990	$85,925,880
LOMA	Loma Negra Compania Industrial Argentina Sociedad Anonima	+803,289	1,130,732	$14,642,979
FLUT	Flutter Entertainment plc	+798,302	1,399,735	$300,999,014
SUPV	Grupo Supervielle S.A.	+682,294	1,519,056	$17,955,241
WAY	Waystar Holding Corp.	+673,469	2,773,241	$90,823,642
METC	Ramaco Resources, Inc.	+673,241	999,187	$17,985,366
GLNG	Golar Lng Ltd	+637,081	3,932,104	$146,313,589
BMA	Macro Bank Inc.	+623,755	857,488	$77,311,118
CX	Cemex Sab De CV	+552,487	26,283,246	$301,994,496
IOT	Samsara Inc.	+533,786	1,737,068	$61,579,060
RBRK	Rubrik, Inc.	+397,653	2,100,000	$160,608,000
AMZN	Amazon Com Inc	+384,075	1,256,355	$289,991,861
WAB	Westinghouse Air Brake Technologies Corp	+300,389	558,359	$119,181,728
VST	Vistra Corp.	+279,488	342,360	$55,232,938
CRS	Carpenter Technology Corp	+224,088	1,062,211	$334,426,511
TSEM	Tower Semiconductor Ltd	+197,110	480,614	$56,433,695
EXE	EXPAND ENERGY Corp	+94,891	361,377	$39,881,565
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
PCG	PG&E Corp	−17,227,160	11,794,997	$189,545,601
TEVA	Teva Pharmaceutical Industries Ltd	−16,918,412	7,466,086	$233,016,544
GLW	Corning Inc /Ny	−9,347,888	856,764	$75,018,255
ILMN	Illumina, Inc.	−2,268,065	1,178,842	$154,616,916
RKT	Rocket Companies, Inc.	−2,142,479	6,223,575	$120,488,412
CRH	Crh Public Ltd Co	−955,564	352,765	$44,025,072
OKTA	Okta, Inc.	−898,550	83,300	$7,202,951
NTRA	Natera, Inc.	−410,910	715,495	$163,912,749
TLN	Talen Energy Corp	−396,987	135,870	$50,929,510
COF	Capital One Financial Corp	−298,284	758,066	$183,724,875
NVT	nVent Electric plc	−93,537	2,378,858	$242,572,150
WCC	Wesco International Inc	−76,593	612,505	$149,843,223
EQT	EQT Corp	−64,828	194,486	$10,424,449
No positions match the current search.

New Positions

Positions the filer opened this quarter

13 positions

Ticker	Company	Shares	Value
CEG	Constellation Energy Corp	827,626	$292,375,437
FCX	Freeport-Mcmoran Inc	3,908,710	$198,523,380
XYZ	Block, Inc.	2,057,224	$133,904,710
DASH	DoorDash, Inc.	545,564	$123,559,334
BAC	Bank Of America Corp /De/	1,418,828	$78,035,540
ETR	Entergy Corp /De/	310,325	$28,683,339
PAM	Pampa Energy Inc.	271,221	$24,005,770
VALE	Vale S.A.	1,542,021	$20,092,533
LSCC	Lattice Semiconductor Corp	270,613	$19,911,704
HUT	Hut 8 Corp.	232,938	$10,701,171
UNP	Union Pacific Corp	45,466	$10,517,195
SATS	EchoStar CORP	87,273	$9,486,575
XP	XP Inc.	571,756	$9,359,645
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
EXPE	Expedia Group, Inc.	427,789	$91,439,898
MSFT	Microsoft Corp	107,665	$55,765,086
RGEN	Repligen Corp	409,503	$54,738,266
APP	AppLovin Corp	72,266	$51,926,011
RBLX	Roblox Corp	244,877	$33,920,362
ROIV	Roivant Sciences Ltd.	1,791,440	$27,104,487
COHR	Coherent Corp.	209,458	$22,562,815
PINS	Pinterest, Inc.	693,103	$22,297,123
NRG	Nrg Energy, Inc.	66,812	$10,820,203
SRE	Sempra	76,129	$6,850,087
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

52 positions · $6,240,113,126 total · as of Dec 31, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 52 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
STUB	StubHub Holdings, Inc. Communication Services	Reduced	24,823,335	-17,293,331	$335,859,721	−52.6%	5.38%
CRS	Carpenter Technology Corp Industrials	Added	1,062,211	+224,088	$334,426,511	+62.5%	5.36%
CX	Cemex Sab De CV Basic Materials	Added	26,283,246	+552,487	$301,994,496	+30.6%	4.84%
FLUT	Flutter Entertainment plc Consumer Cyclical	Added	1,399,735	+798,302	$300,999,014	+97.0%	4.82%
CEG	Constellation Energy Corp Utilities	NEW	827,626	NEW	$292,375,437	NEW	4.69%
AMZN	Amazon Com Inc Consumer Cyclical	Added	1,256,355	+384,075	$289,991,861	+51.4%	4.65%
NVT	nVent Electric plc Industrials	Reduced	2,378,858	-93,537	$242,572,150	−0.5%	3.89%
SCHW	Schwab Charles Corp Financial Services	Held	2,408,147	0	$240,597,966	+4.7%	3.86%
TEVA	Teva Pharmaceutical Industries Ltd Healthcare	Reduced	7,466,086	-16,918,412	$233,016,544	−52.7%	3.73%
FCX	Freeport-Mcmoran Inc Basic Materials	NEW	3,908,710	NEW	$198,523,380	NEW	3.18%
PCG	PG&E Corp Utilities	Reduced	11,794,997	-17,227,160	$189,545,601	−56.7%	3.04%
CPNG	Coupang, Inc. Consumer Cyclical	Added	7,863,165	+2,774,015	$185,492,062	+13.2%	2.97%
COF	Capital One Financial Corp Financial Services	Reduced	758,066	-298,284	$183,724,875	−18.2%	2.94%
CAI	Caris Life Sciences, Inc. Healthcare	Added	6,718,707	+2,834,986	$181,270,714	+54.3%	2.90%
ARMK	Aramark Industrials	Added	4,737,646	+1,481,978	$174,629,631	+39.7%	2.80%
NTRA	Natera, Inc. Healthcare	Reduced	715,495	-410,910	$163,912,749	−9.6%	2.63%
GRAB	Grab Holdings Ltd Technology	Added	32,555,483	+26,186,329	$162,451,860	+323.7%	2.60%
RBRK	Rubrik, Inc. Technology	Added	2,100,000	+397,653	$160,608,000	+14.7%	2.57%
ILMN	Illumina, Inc. Healthcare	Reduced	1,178,842	-2,268,065	$154,616,916	−52.8%	2.48%
CCC	CCC Intelligent Solutions Holdings Inc. Technology	Added	18,925,086	+2,560,000	$150,454,433	+0.9%	2.41%
WCC	Wesco International Inc Industrials	Reduced	612,505	-76,593	$149,843,223	+2.8%	2.40%
GLNG	Golar Lng Ltd Energy	Added	3,932,104	+637,081	$146,313,589	+9.9%	2.34%
XYZ	Block, Inc. Technology	NEW	2,057,224	NEW	$133,904,710	NEW	2.15%
DASH	DoorDash, Inc. Consumer Cyclical	NEW	545,564	NEW	$123,559,334	NEW	1.98%
RKT	Rocket Companies, Inc. Financial Services	Reduced	6,223,575	-2,142,479	$120,488,412	−25.7%	1.93%
WAB	Westinghouse Air Brake Technologies Corp Industrials	Added	558,359	+300,389	$119,181,728	+130.5%	1.91%
WAY	Waystar Holding Corp. Healthcare	Added	2,773,241	+673,469	$90,823,642	+14.1%	1.46%
GGAL	Grupo Financiero Galicia SA Financial Services	Added	1,592,990	+1,004,371	$85,925,880	+429.7%	1.38%
BAC	Bank Of America Corp /De/ Financial Services	NEW	1,418,828	NEW	$78,035,540	NEW	1.25%
BMA	Macro Bank Inc. Financial Services	Added	857,488	+623,755	$77,311,118	+682.1%	1.24%
GLW	Corning Inc /Ny Technology	Reduced	856,764	-9,347,888	$75,018,255	−91.0%	1.20%
IOT	Samsara Inc. Technology	Added	1,737,068	+533,786	$61,579,060	+37.4%	0.99%
TSEM	Tower Semiconductor Ltd Technology	Added	480,614	+197,110	$56,433,695	+175.3%	0.90%
VST	Vistra Corp. Utilities	Added	342,360	+279,488	$55,232,938	+348.4%	0.89%
TLN	Talen Energy Corp Utilities	Reduced	135,870	-396,987	$50,929,510	−77.5%	0.82%
BBAR	Banco BBVA Argentina S.A. Financial Services	Added	2,668,038	+1,005,978	$48,211,446	+248.6%	0.77%
CRH	Crh Public Ltd Co Basic Materials	Reduced	352,765	-955,564	$44,025,072	−71.9%	0.71%
EXE	EXPAND ENERGY Corp Energy	Added	361,377	+94,891	$39,881,565	+40.9%	0.64%
ETR	Entergy Corp /De/ Utilities	NEW	310,325	NEW	$28,683,339	NEW	0.46%
PAM	Pampa Energy Inc. Industrials	NEW	271,221	NEW	$24,005,770	NEW	0.38%
VALE	Vale S.A. Basic Materials	NEW	1,542,021	NEW	$20,092,533	NEW	0.32%
LSCC	Lattice Semiconductor Corp Technology	NEW	270,613	NEW	$19,911,704	NEW	0.32%
METC	Ramaco Resources, Inc. Basic Materials	Added	999,187	+673,241	$17,985,366	+66.3%	0.29%
SUPV	Grupo Supervielle S.A. Financial Services	Added	1,519,056	+682,294	$17,955,241	+333.5%	0.29%
LOMA	Loma Negra Compania Industrial Argentina Sociedad Anonima Basic Materials	Added	1,130,732	+803,289	$14,642,979	+506.8%	0.23%
HUT	Hut 8 Corp. Financial Services	NEW	232,938	NEW	$10,701,171	NEW	0.17%
UNP	Union Pacific Corp Industrials	NEW	45,466	NEW	$10,517,195	NEW	0.17%
EQT	EQT Corp Energy	Reduced	194,486	-64,828	$10,424,449	−26.1%	0.17%
SATS	EchoStar CORP Communication Services	NEW	87,273	NEW	$9,486,575	NEW	0.15%
XP	XP Inc. Financial Services	NEW	571,756	NEW	$9,359,645	NEW	0.15%