Latest PointState Capital LP Stock Portfolio

PointState Capital LP Performance:

2025 Q4: 3.4%YTD: 13.61%2024: 30.72%

Performance for 2025 Q4 is 3.4%, and YTD is 13.61%, and 2024 is 30.72%.

About PointState Capital LP and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, PointState Capital LP reported an equity portfolio of $6.8 Billions as of 31 Dec, 2025.

The top stock holdings of PointState Capital LP are , , CEG. The fund has invested 4.9% of it's portfolio in STUBHUB HLDGS INC and 4.4% of portfolio in FLUTTER ENTMT PLC .

The fund managers got completely rid off EXPEDIA GROUP INC (EXPE), MICROSOFT CORP (MSFT) and REPLIGEN CORP (RGEN) stocks. They significantly reduced their stock positions in OKTA INC (OKTA), CORNING INC (GLW) and TEVA PHARMACEUTICAL INDS LTD (TEVA). PointState Capital LP opened new stock positions in CONSTELLATION ENERGY CORP (CEG), FREEPORT-MCMORAN INC (FCX) and BLOCK INC (SQ). The fund showed a lot of confidence in some stocks as they added substantially to VISTRA CORP (VST), GRAB HOLDINGS LIMITED (GRAB) and BANCO MACRO SA (BMA).

PointState Capital LP Annual Return Estimates Vs S&P 500

Our best estimate is that PointState Capital LP made a return of 3.4% in the last quarter. In trailing 12 months, it's portfolio return was 13.61%.

Performance
S&P 500

New Buys

Ticker	$ Bought
constellation energy corp	292,375,000
freeport-mcmoran inc	198,523,000
block inc	133,905,000
doordash inc	123,559,000
bank america corp	78,035,500
global x fds	54,012,200
entergy corp new	28,683,300
pampa energia s a	24,005,800

New stocks bought by PointState Capital LP

Additions

Ticker	% Inc.
vistra corp	444
grab holdings limited	411
banco macro sa	266
loma negra c i a s a mtn 14	245
ramaco res inc	206
grupo financiero galicia s.a	170
flutter entmt plc	132
wabtec	116

Additions to existing portfolio by PointState Capital LP

Reductions

Ticker	% Reduced
okta inc	-91.52
corning inc	-85.73
teva pharmaceutical inds ltd	-81.68
talen energy corp	-74.5
crh plc	-73.04
illumina inc	-70.45
natera inc	-36.48
capital one finl corp	-28.24

PointState Capital LP reduced stake in above stock

Sold off

Ticker	$ Sold
pg&e corp	-10,133,000
roivant sciences ltd	-27,104,500
pinterest inc	-22,297,100
expedia group inc	-91,439,900
repligen corp	-54,738,300
roblox corp	-33,920,400
coherent corp	-22,562,800
microsoft corp	-55,765,100

PointState Capital LP got rid off the above stocks

Sector Distribution

PointState Capital LP has about 35.8% of it's holdings in Others sector.

Sector	%
Others	35.8
Industrials	15.2
Financial Services	10.6
Utilities	9.7
Consumer Cyclical	8.1
Technology	7.8
Healthcare	6
Basic Materials	3.7
Communication Services	2.1

Market Cap. Distribution

PointState Capital LP has about 60.5% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	54.2
UNALLOCATED	35.8
MEGA-CAP	6.3
MID-CAP	2.6

Stocks belong to which Index?

About 36.5% of the stocks held by PointState Capital LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	63.5
S&P 500	30.5
RUSSELL 2000	6

Top 5 Winners (%)		%
SUPV	grupo supervielle s.a.	82.0 %
BBAR	banco bbva argentina s a	77.9 %
BMA	banco macro sa	51.0 %
GGAL	grupo financiero galicia s.a	50.4 %
TSEM	tower semiconductor ltd	44.0 %

Top 5 Winners ($)		$
TEVA	teva pharmaceutical inds ltd	134.9 M
NTRA	natera inc	62.7 M
CRS	carpenter technology corp	50.3 M
CX	cemex sab de cv	42.5 M
ILMN	illumina inc	42.2 M

Top 5 Losers (%)		%
ALVO	alvotech	-37.4 %
METC	ramaco res inc	-35.9 %
CPNG	coupang inc	-23.1 %
	stubhub hldgs inc	-18.3 %
	waystar hldg corp	-12.2 %

Top 5 Losers ($)		$
	stubhub hldgs inc	-75.4 M
CPNG	coupang inc	-55.8 M
	flutter entmt plc	-39.0 M
CCCS	ccc intelligent solutions hl	-20.5 M
GRAB	grab holdings limited	-20.0 M

PointState Capital LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of PointState Capital LP

PointState Capital LP has 53 stocks in it's portfolio. About 36.5% of the portfolio is in top 10 stocks. proved to be the most loss making stock for the portfolio. TEVA was the most profitable stock for PointState Capital LP last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AGNG	global x fds	0.80	752,364	54,012,200	new

ALVO	alvotech	0.08	1,049,040	5,381,570	unchanged	0.00

AMZN	amazon com inc	4.27	1,256,360	289,992,000	added	44.03

APP	applovin corp	0.00	0.00	0.00	sold off	-100

ARMK	aramark	2.57	4,737,650	174,630,000	added	45.52

BAC	bank america corp	1.15	1,418,830	78,035,500	new

BBAR	banco bbva argentina s a	0.71	2,668,040	48,211,400	added	60.53

BMA	banco macro sa	1.14	857,488	77,311,100	added	266

CCCS	ccc intelligent solutions hl	2.21	18,925,100	150,454,000	added	15.64

CEG	constellation energy corp	4.30	827,626	292,375,000	new

CHK	expand energy corporation	0.59	361,377	39,881,600	added	35.61

COF	capital one finl corp	2.70	758,066	183,725,000	reduced	-28.24

COHR	coherent corp	0.00	0.00	0.00	sold off	-100

CPNG	coupang inc	2.73	7,863,160	185,492,000	added	54.51

CRH	crh plc	0.65	352,765	44,025,100	reduced	-73.04

CRS	carpenter technology corp	2.84	612,211	192,749,000	reduced	-26.95

CX	cemex sab de cv	2.92	17,283,200	198,584,000	added	3.3

DASH	doordash inc	1.82	545,564	123,559,000	new

EQT	eqt corp	0.15	194,486	10,424,400	reduced	-25.00

ETR	entergy corp new	0.42	310,325	28,683,300	new