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Pointstate Capital LP
PointState Capital LP is a hedge fund founded in January 2011 by Zach Schreiber and senior alumni from Duquesne Capital Management. Headquartered in New York, NY, the firm manages private investment funds for accredited and institutional investors, employing a team estimated to be between 50 and 100 employees. PointState is noted for its broad, multi-asset strategy across global equities, commodities, currencies, credit, and rates, and is recognized for its significant healthcare investments.
Investment Strategy
PointState Capital LP pursues a global, multi-strategy investment approach across equities, commodities, currencies, rates, and credit, targeting both long and short opportunities. The firm leverages deep sector expertise, especially in healthcare and energy, while maintaining an opportunistic philosophy that seeks alpha generation through dynamic asset allocation, active risk management, and diversified tools, including the use of derivatives and complex instruments. Portfolio management is centralized, with decisions steered by fundamental, macro, and quantitative research, emphasizing liquidity and flexibility.
Latest 13F Filing Activity
Pointstate Capital LP filed their most recent 13F report on Jun 30, 2025 disclosing 46 equity positions and 6 options positions with a total 13F market value of $7B. The fund increased holdings in Cemex Sab de CV, Ishares Inc., Block Inc. among other positions. Pointstate Capital LP reduced exposure to Wesco Intl Inc., Sempra, Constellation Energy Corp. among others.
Top Holdings
Equity Positions (46)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
T TEVA | TEVA PHARMACEUTICAL INDS LTD | 5.29% | $347.1M | 20,712,398 | $16.87 | $16.76 | +$114.6M |
G GLW | CORNING INC | 4.94% | $323.8M | 6,157,637 | $46.45 | $52.59 | +$69.7M |
I ILMN | ILLUMINA INC | 4.29% | $281.5M | 2,950,361 | $111.02 | $95.41 | +$81.8M |
L LITE | LUMENTUM HLDGS INC | 3.67% | $240.8M | 2,532,821 | $62.34 | $95.06 | +$27.3M |
C COF | CAPITAL ONE FINL CORP | 3.36% | $220.3M | 1,035,510 | $178.64 | $212.76 | +$11.1M |
Options Positions (6)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Sold | Put | $1.24B | 20,000 | $617.85 | $549.66 | -9,500 | -$414.5M |
G GLW | CORNING INC | — | Call | $220.9M | 42,000 | $52.59 | $45.78 | 0 | +$28.6M |
P PCG | PG&E CORP | New | Call | $195.2M | 140,000 | $13.94 | $13.94 | +140,000 | +$195.2M |
I ILMN | ILLUMINA INC | Bought | Call | $155.9M | 16,345 | $95.41 | $101.26 | +13,845 | +$136.1M |
T TEVA | TEVA PHARMACEUTICAL INDS LTD | — | Call | $61.5M | 36,721 | $16.76 | $16.03 | 0 | +$5.1M |
Industry Allocation
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