PointState Capital LP holds a focused book of 43 stocks worth $4.3B as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Ishares Msci South Korea ETF and trimmed Nvent Electric PLC. Their largest long position is P G & E Corp at 9% of the equity book. They also disclosed $3.6B in put options (a bearish bet), shown separately below and excluded from the equity book.
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Use Arkolith to show PointState Capital LP's latest holdings, largest changes, and filing provenance.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
93% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | PG&E Corp COM | $377.2M | 21.47M | 8.8% | ▲+82% Added · +9.7M sh | |
| 2 | Cemex Sa Euro MTN Be 144A SPON ADR NEW | $288.8M | 25.24M | 6.7% | ▲+46% Added · +8.0M sh | |
| 3 | Doordash Inc CL A | $274.8M | 1.83M | 6.4% | ▲+235% Added · +1.3M sh | |
| 4 | Nvent Elec PLC SHS | $259.8M | 2.20M | 6.0% | ▼−7.7% Reduced · −182K sh | |
| 5 | Block Inc CL A | $239.4M | 3.98M | 5.6% | ▲+93% Added · +1.9M sh | |
| 6 | Ishares Inc MSCI STH KOR ETF | $211.7M | 1.72M | 4.9% | ▲New New position | |
| 7 | Qnity Electronics Inc COMMON STOCK | $200.5M | 1.74M | 4.7% | ▲New New position | |
| 8 | Aramark COM | $183.7M | 4.53M | 4.3% | ▼−4.3% Reduced · −205K sh | |
| 9 | Rubrik Inc. CL A | $178.6M | 3.65M | 4.1% | ▲+74% Added · +1.5M sh | |
| 10 | Grab Holdings Limited CLASS A ORD | $154.7M | 42.27M | 3.6% | ▲+30% Added · +9.7M sh | |
| 11 | Wabtec COM | $150.1M | 600.7K | 3.5% | ▲+7.6% Added · +42K sh | |
| 12 | Natera Inc COM | $148.0M | 739.9K | 3.4% | ▲+3.4% Added · +24K sh | |
| 13 | Flutter Entmt PLC SHS | $144.4M | 1.42M | 3.4% | ▲+1.2% Added · +17K sh | |
| 14 | Caris Life Sciences Inc COM | $131.6M | 7.36M | 3.1% | ▲+9.6% Added · +642K sh | |
| 15 | Entegris Inc COM | $130.4M | 1.11M | 3.0% | ▲New New position | |
| 16 | Golar LNG Ltd SHS | $127.0M | 2.35M | 2.9% | ▼−40% Reduced · −1.6M sh | |
| 17 | Stubhub Hldgs Inc CL A | $125.6M | 20.13M | 2.9% | ▼−19% Reduced · −4.7M sh | |
| 18 | Capital One Finl Corp COM | $124.4M | 682.1K | 2.9% | ▼−10% Reduced · −76K sh | |
| 19 | Ishares Inc MSCI BRAZIL ETF | $93.0M | 2.42M | 2.2% | ▲New New position | |
| 20 | Waystar Hldg Corp COM | $90.8M | 3.77M | 2.1% | ▲+36% Added · +995K sh | |
| 21 | Wesco Intl Inc COM | $80.7M | 295.1K | 1.9% | ▼−52% Reduced · −317K sh | |
| 22 | Grupo Financiero Galicia S.a SPONSORED ADR | $60.6M | 1.30M | 1.4% | ▼−19% Reduced · −296K sh | |
| 23 | Rambus Inc Del COM | $60.3M | 701.3K | 1.4% | ▲New New position | |
| 24 | Teva Pharmaceutical Inds Ltd SPONSORED ADS | $59.5M | 1.97M | 1.4% | ▼−48% Reduced · −1.8M sh | |
| 25 | Banco Macro S A SPON ADR B | $55.0M | 710.5K | 1.3% | ▼−17% Reduced · −147K sh | |
| 26 | Lyondellbasell Industries NV SHS - A - | $49.7M | 616.8K | 1.2% | ▲New New position | |
| 27 | Meta Platforms Inc CL A | $41.6M | 72.7K | 1.0% | ▲New New position | |
| 28 | Rocket Cos Inc COM CL A | $40.2M | 2.82M | 0.9% | ▼−55% Reduced · −3.4M sh | |
| 29 | Dow Hldgs Inc COM | $37.6M | 903.0K | 0.9% | ▲New New position | |
| 30 | Banco Bbva Argentina S A SPONSORED ADS | $35.8M | 2.23M | 0.8% | ▼−16% Reduced · −440K sh | |
| 31 | Life Time Group Holdings Inc COMMON STOCK | $24.5M | 907.9K | 0.6% | ▲New New position | |
| 32 | Pampa Energia Sa SPONS ADR LVL I | $24.0M | 271.2K | 0.6% | —Held | |
| 33 | Venture Global Inc COM CL A | $23.1M | 1.46M | 0.5% | ▲New New position | |
| 34 | Illumina Inc COM | $18.3M | 148.5K | 0.4% | ▼−72% Reduced · −383K sh | |
| 35 | Coupang Inc CL A | $13.9M | 737.7K | 0.3% | ▼−91% Reduced · −7.1M sh | |
| 36 | Loma Negra C I A S A MTN 14 SPONSORED ADS | $12.5M | 1.13M | 0.3% | —Held | |
| 37 | Grupo Supervielle S.A. SPONSORED ADR | $11.9M | 1.26M | 0.3% | ▼−17% Reduced · −262K sh | |
| 38 | Arcelormittal Sa Luxembourg NY REGISTRY SH | $6.5M | 125.1K | 0.2% | ▲New New position | |
| 39 | Global X FDS GLOBAL X COPPER | $5.6M | 73.0K | 0.1% | ▼−90% Reduced · −679K sh | |
| 40 | Vistance Networks Inc COM | $5.3M | 293.4K | 0.1% | ▲New New position | |
| 41 | Carpenter Technology Corp COM | $5.1M | 12.9K | 0.1% | ▼−98% Reduced · −599K sh | |
| 42 | Freeport McMoran Inc CL B | $547K | 9.3K | 0.0% | ▼−100% Reduced · −3.9M sh | |
| 43 | Ramaco Res Inc NOTE 11/0 | $167K | 220.0K | 0.0% | —Held |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| PUT · bearish | SS SPDR S&P 500 ETF TRUST-USSPY | $3.3B | 5.1M |
| PUT · bearish | ISHARES RUSSELL 2000 ETFIWM | $272.8M | 1.1M |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above.
As-of date vs the date the SEC received each filing
| Quarter | As of | Filed | Positions | Value | Form |
|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | May 15, 2026 | 46 | $7.9B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 17, 2026 | 60 | $6.8B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Nov 14, 2025 | 58 | $6.7B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Aug 14, 2025 | 53 | $6.6B | 13F-HR |
| Q1 2025 | Mar 31, 2025 | May 15, 2025 | 47 | $6.9B | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 14, 2025 | 50 | $5.5B | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Nov 14, 2024 | 53 | $5.5B | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Aug 14, 2024 | 64 | $4.6B | 13F-HR |
| Q1 2024 | Mar 31, 2024 | May 15, 2024 | 61 | $5.8B | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 14, 2024 | 57 | $4.1B | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Nov 14, 2023 | 58 | $5.9B | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 14, 2023 | 54 | $4.2B | 13F-HR |
| Q1 2023 | Mar 31, 2023 | May 15, 2023 | 49 | $3.0B | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 14, 2023 | 46 | $3.3B | 13F-HR |
| Q3 2022 | Sep 30, 2022 | Nov 10, 2022 | 47 | $4.1B | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 12, 2022 | 57 | $4.0B | 13F-HR/A |
| Q1 2022 | Mar 31, 2022 | May 13, 2022 | 64 | $8.7B | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 11, 2022 | 116 | $6.0B | 13F-HR |
| Q3 2021 | Sep 30, 2021 | Nov 15, 2021 | 136 | $6.0B | 13F-HR |
| Q2 2021 | Jun 30, 2021 | Aug 13, 2021 | 126 | $5.8B | 13F-HR |
| Q1 2021 | Mar 31, 2021 | May 14, 2021 | 116 | $5.1B | 13F-HR |
| Q4 2020 | Dec 31, 2020 | Feb 16, 2021 | 127 | $5.3B | 13F-HR |
| Q3 2020 | Sep 30, 2020 | Nov 16, 2020 | 103 | $3.8B | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. Price-derived performance is withheld until the price-source policy and freshness gate are green.