Q4 2025 · 13F-HR
PointState Capital LPholdings as filed
Filed 2026-02-17 · accession 0001193125-26-054581
$6.79B
Reported value
59
Positions
2025-12-31
Period end
The Brief · PointState Capital LP · Q4 2025
AI · grounded in 13F
PointState Capital LP initiated a new position in SMH valued at $496.98M. The fund also established new stakes in CEG for $292.38M and FCX for $198.52M. On the sell side, the fund closed its position in EEM, reducing its exposure by $186.9M. Additionally, it trimmed shares of GLW by 91.6% and TEVA by 69.4%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 92189F676 | SMH | VANECK ETF TRUST | $497.0M | 7.32% | 1,380,000 | PUT | SOLE |
| 86384P109 | STUB | STUBHUB HLDGS INC | $335.9M | 4.95% | 24,823,335 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $301.0M | 4.43% | 1,399,735 | Common | SOLE |
| 21037T109 | CEG | CONSTELLATION ENERGY CORP | $292.4M | 4.31% | 827,626 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $290.0M | 4.27% | 1,256,355 | Common | SOLE |
| G6700G107 | NVT | NVENT ELECTRIC PLC | $242.6M | 3.57% | 2,378,858 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $240.6M | 3.54% | 2,408,147 | Common | SOLE |
| 151290889 | CX | CEMEX SAB DE CV | $198.6M | 2.92% | 17,283,246 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $198.5M | 2.92% | 3,908,710 | Common | SOLE |
| 144285103 | CRS | CARPENTER TECHNOLOGY CORP | $192.7M | 2.84% | 612,211 | Common | SOLE |
| 69331C108 | PCG | PG&E CORP | $189.5M | 2.79% | 11,794,997 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $185.5M | 2.73% | 7,863,165 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $183.7M | 2.71% | 758,066 | Common | SOLE |
| 142152107 | CAI | CARIS LIFE SCIENCES INC | $181.3M | 2.67% | 6,718,707 | Common | SOLE |
| 03852U106 | ARMK | ARAMARK | $174.6M | 2.57% | 4,737,646 | Common | SOLE |
| 632307104 | NTRA | NATERA INC | $163.9M | 2.41% | 715,495 | Common | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $162.5M | 2.39% | 32,555,483 | Common | SOLE |
| 781154109 | RBRK | RUBRIK INC. | $160.6M | 2.36% | 2,100,000 | Common | SOLE |
| 12510Q100 | CCC | CCC INTELLIGENT SOLUTIONS HL | $150.5M | 2.22% | 18,925,086 | Common | SOLE |
| 95082P105 | WCC | WESCO INTL INC | $149.8M | 2.21% | 612,505 | Common | SOLE |
| G9456A100 | GLNG | GOLAR LNG LTD | $146.3M | 2.15% | 3,932,104 | Common | SOLE |
| 144285103 | CRS | CARPENTER TECHNOLOGY CORP | $141.7M | 2.09% | 450,000 | CALL | SOLE |
| 852234103 | XYZ | BLOCK INC | $133.9M | 1.97% | 2,057,224 | Common | SOLE |
| 25809K105 | DASH | DOORDASH INC | $123.6M | 1.82% | 545,564 | Common | SOLE |
| 77311W101 | RKT | ROCKET COS INC | $120.5M | 1.77% | 6,223,575 | Common | SOLE |
| 929740108 | WAB | WABTEC | $119.2M | 1.75% | 558,359 | Common | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $118.4M | 1.74% | 3,793,986 | Common | SOLE |
| 881624209 | TEVA | TEVA PHARMACEUTICAL INDS LTD | $114.6M | 1.69% | 3,672,100 | CALL | SOLE |
| 151290889 | CX | CEMEX SAB DE CV | $103.4M | 1.52% | 9,000,000 | CALL | SOLE |
| 946784105 | WAY | WAYSTAR HLDG CORP | $90.8M | 1.34% | 2,773,241 | Common | SOLE |
| 399909100 | GGAL | GRUPO FINANCIERO GALICIA S.A | $85.9M | 1.27% | 1,592,990 | Common | SOLE |
| 452327109 | ILMN | ILLUMINA INC | $84.8M | 1.25% | 646,900 | CALL | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $78.0M | 1.15% | 1,418,828 | Common | SOLE |
| 05961W105 | BMA | BANCO MACRO SA | $77.3M | 1.14% | 857,488 | Common | SOLE |
| 219350105 | GLW | CORNING INC | $75.0M | 1.10% | 856,764 | Common | SOLE |
| 452327109 | ILMN | ILLUMINA INC | $69.8M | 1.03% | 531,942 | Common | SOLE |
| 79589L106 | IOT | SAMSARA INC | $61.6M | 0.91% | 1,737,068 | Common | SOLE |
| M87915274 | TSEM | TOWER SEMICONDUCTOR LTD | $56.4M | 0.83% | 480,614 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $55.2M | 0.81% | 342,360 | Common | SOLE |
| 37954Y830 | COPX | GLOBAL X FDS | $54.0M | 0.80% | 752,364 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $50.9M | 0.75% | 135,870 | Common | SOLE |
| 058934100 | BBAR | BANCO BBVA ARGENTINA S A | $48.2M | 0.71% | 2,668,038 | Common | SOLE |
| G25508105 | CRH | CRH PLC | $44.0M | 0.65% | 352,765 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $39.9M | 0.59% | 361,377 | Common | SOLE |
| 29364G103 | ETR | ENTERGY CORP NEW | $28.7M | 0.42% | 310,325 | Common | SOLE |
| 697660207 | PAM | PAMPA ENERGIA S A | $24.0M | 0.35% | 271,221 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $20.1M | 0.30% | 1,542,021 | Common | SOLE |
| 518415104 | LSCC | LATTICE SEMICONDUCTOR CORP | $19.9M | 0.29% | 270,613 | Common | SOLE |
| 75134P600 | METC | RAMACO RES INC | $18.0M | 0.26% | 999,187 | Common | SOLE |
| 40054A108 | SUPV | GRUPO SUPERVIELLE S.A. | $18.0M | 0.26% | 1,519,056 | Common | SOLE |
| 54150E104 | LOMA | LOMA NEGRA C I A S A MTN 14 | $14.6M | 0.22% | 1,130,732 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $10.7M | 0.16% | 232,938 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $10.5M | 0.15% | 45,466 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $10.4M | 0.15% | 194,486 | Common | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $9.5M | 0.14% | 87,273 | Common | SOLE |
| G98239109 | XP | XP INC | $9.4M | 0.14% | 571,756 | Common | SOLE |
| 679295105 | OKTA | OKTA INC | $7.2M | 0.11% | 83,300 | Common | SOLE |
| L01800108 | ALVO | ALVOTECH | $5.4M | 0.08% | 1,049,039 | Common | SOLE |
| 75134PAB1 | METC 0 11/01/31 | RAMACO RES INC | $185,123 | 0.00% | 220,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.