In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), PointState Capital LP reported 40 stock positions worth $4.4 billion . Its top holding was CRH (CRH) at 9.6% of the portfolio, followed by Teva Pharmaceutical-SP ADR (TEVA, 6.8% ) and Wesco International (WCC, 6.6% ). Compared with Q3 2024, it opened 9 new positions, sold out of 13, added to 17 and reduced 10. The biggest buy was a new position in Schwab (charles) (SCHW) and the biggest sale Marvell Technology (MRVL, shares −76% ).
Location New York, NY
CIK 0001509842
Portfolio Value $4.4B (Q4 2024) Holdings 40 stocks · $4.4B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 CRH CRH PLC 4,579,200 $423.7M Add +77.5% TEVA Teva Pharmaceutical-SP ADR 13,526,475 $298.1M Add +38.6% WCC Wesco International Inc. 1,609,248 $291.2M Add +19.8% SCHW Schwab (charles) Corp. 3,206,059 $237.3M New CPNG Coupang Inc. 10,103,498 $222.1M Reduce -20.7% ILMN Illumina Inc. 1,611,395 $215.3M Add +433.1% FLUT Flutter Entertainment PLC-Di 805,201 $208.1M Add +12.2% EXPE Expedia Group Inc. 1,107,513 $206.4M Add +7.1% COHR Coherent Corp. 2,041,367 $193.4M Reduce -30.8% BAC Bank of America Corp. filed as BANK AMERICA CORP 4,278,353 $188.0M Add +74.3% ULTA Ulta Beauty Inc. 368,438 $160.2M New MSFT Microsoft Corp. 351,997 $148.4M Add +1.5% COF Capital One Financial Corp. 785,088 $140.0M New VST Vistra Corp. 929,533 $128.2M Add +176.7% GRAB Grab Holdings Ltd. Class A 23,344,305 $110.2M Add +234.8% KKR KKR & Co. Inc. 722,564 $106.9M Reduce -20.4% ARMK Aramark 2,690,617 $100.4M Add +135.4% DASH DoorDash Inc. Class A 596,985 $100.1M Reduce -31.5% RBRK Rubrik Inc. Class A 1,523,808 $99.6M Add +21.1% GLNG Golar LNG Ltd. 2,200,555 $93.1M New NTRA Natera Inc. 569,252 $90.1M Reduce -27.3% HUBB Hubbell Inc. 187,263 $78.4M New MRVL Marvell Technology Inc. 692,302 $76.5M Reduce -75.8% FERG Ferguson Enterprises Inc. 435,794 $75.6M New ALV Autoliv Inc. 799,061 $74.9M Reduce -6.3% BBAR Bbva Argentina SA-ADR filed as BANCO BBVA ARGENTINA S A 2,458,304 $46.9M Add +47.7% APO Apollo Global Management Inc. 282,690 $46.7M Reduce -76.0% ROIV Roivant Sciences Ltd. 3,297,449 $39.0M Reduce -19.7% GGAL Grupo Financiero Galicia-ADR 577,337 $36.0M Add +14.5% BMA Banco Macro SA-ADR 339,020 $32.8M Add +25.1% UBER Uber Technologies Inc. 493,827 $29.8M New SUPV Grupo Supervielle SA-SP ADR 1,896,720 $28.7M Add +300.7% ALVO Alvotech SA 1,241,379 $16.4M Add +64.1% HCC Warrior Met Coal Inc. 211,707 $11.5M No change COOP Mr Cooper Group Inc. 101,948 $9.8M New CCJ Cameco Corp. 174,360 $9.0M No change BHC Bausch Health Cos Inc. 795,390 $6.4M Reduce -49.0% LLYVK Liberty Media Corp.-Liberty-C 81,114 $5.5M No change TX Ternium SA-Sponsored ADR 141,403 $4.1M New LLYVA Liberty Media Corp.-Liberty-A 37,820 $2.5M No change
Options reported separately and not counted above: SPY puts ($392.7M), ULTA calls ($200.1M), MSFT calls ($168.6M), EXPE calls ($121.1M), TEVA calls ($55.1M), CRH calls ($46.3M), GLNG calls ($42.3M), ILMN calls ($33.4M), SLV calls ($26.3M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $8.6M (not counted above) Total filed on the 13F, all lines: $4.4B.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ MRVL Marvell Technology Inc. Reduce -75.8% 1.74% −3.93 CPNG Coupang Inc. Reduce -20.7% 5.06% −3.54 AVGO Broadcom Inc. Sold out 0.00% −3.10 APO Apollo Global Management Inc. Reduce -76.0% 1.06% −2.99 LYV Live Nation Entertainment Inc. Sold out 0.00% −2.83 COHR Coherent Corp. Reduce -30.8% 4.40% −2.81 CNM Core & Main Inc. Class A Sold out 0.00% −2.75 MAR Marriott International Class A Sold out 0.00% −2.70 PCOR Procore Technologies Inc. Sold out 0.00% −2.24 AMZN Amazon.com Inc. Sold out 0.00% −1.44 DASH DoorDash Inc. Class A Reduce -31.5% 2.28% −1.14 XME SS SPDR S&P Metals Mining Sold out 0.00% −1.09 TEAM Atlassian Corp. Class A Sold out 0.00% −0.84 AXTA Axalta Coating Systems Ltd. Sold out 0.00% −0.83 KKR KKR & Co. Inc. Reduce -20.4% 2.43% −0.82 BAX Baxter International Inc. Sold out 0.00% −0.80 NTRA Natera Inc. Reduce -27.3% 2.05% −0.68 TECK Teck Resources Ltd.-CLS B Sold out 0.00% −0.58 BRBR Bellring Brands Inc. Sold out 0.00% −0.56 ALV Autoliv Inc. Reduce -6.3% 1.71% −0.48 ROIV Roivant Sciences Ltd. Reduce -19.7% 0.89% −0.42 VIST Vista Energy Sab DE CV Sold out 0.00% −0.31 BHC Bausch Health Cos Inc. Reduce -49.0% 0.15% −0.20
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ SCHW Schwab (charles) Corp. New 5.40% +5.40 ILMN Illumina Inc. Add +433.1% 4.90% +3.82 ULTA Ulta Beauty Inc. New 3.65% +3.65 COF Capital One Financial Corp. New 3.19% +3.19 CRH CRH PLC Add +77.5% 9.65% +3.07 GLNG Golar LNG Ltd. New 2.12% +2.12 TEVA Teva Pharmaceutical-SP ADR Add +38.6% 6.79% +1.95 VST Vistra Corp. Add +176.7% 2.92% +1.82 HUBB Hubbell Inc. New 1.79% +1.79 GRAB Grab Holdings Ltd. Class A Add +234.8% 2.51% +1.78 FERG Ferguson Enterprises Inc. New 1.72% +1.72 BAC Bank of America Corp. Add +74.3% 4.28% +1.60 RBRK Rubrik Inc. Class A Add +21.1% 2.27% +1.16 ARMK Aramark Add +135.4% 2.29% +1.07 UBER Uber Technologies Inc. New 0.68% +0.68 BBAR Bbva Argentina SA-ADR Add +47.7% 1.07% +0.59 SUPV Grupo Supervielle SA-SP ADR Add +300.7% 0.65% +0.56 EXPE Expedia Group Inc. Add +7.1% 4.70% +0.49 WCC Wesco International Inc. Add +19.8% 6.63% +0.43 BMA Banco Macro SA-ADR Add +25.1% 0.75% +0.27 GGAL Grupo Financiero Galicia-ADR Add +14.5% 0.82% +0.24 COOP Mr Cooper Group Inc. New 0.22% +0.22 ALVO Alvotech SA Add +64.1% 0.37% +0.13 TX Ternium SA-Sponsored ADR New 0.09% +0.09 FLUT Flutter Entertainment PLC-Di Add +12.2% 4.74% +0.06 MSFT Microsoft Corp. Add +1.5% 3.38% −0.72
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -67.6% 670,000 $392.7M ULTA Ulta Beauty Inc. call New 460,000 $200.1M MSFT Microsoft Corp. call New 400,000 $168.6M WCC Wesco International Inc. call Sold out 995,000 $167.1Mbefore exit XLE SS Energy Select Sector put Sold out 1,700,000 $149.3Mbefore exit EXPE Expedia Group Inc. call New 650,000 $121.1M APO Apollo Global Management Inc. call Sold out 500,000 $62.5Mbefore exit CRH CRH PLC call Reduce -75.0% 500,000 $46.3M GLNG Golar LNG Ltd. call New 1,000,000 $42.3M CPNG Coupang Inc. call Sold out 1,500,000 $36.8Mbefore exit ILMN Illumina Inc. call New 250,000 $33.4M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ WOLF Wolfspeed Inc. (wolf 1.75 05/01/26) NOTE 1.750% 5/0 · principal Sold out 20,000,000 $14.3Mbefore exit BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) NOTE 2.250% 2/0 · principal New 10,000,000 $8.6M
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 41 $5.7B PCG, AMZN, DASH, GRAB, CX Q1 2026 42 $4.3B PCG, CX, DASH, NVT, XYZ Q4 2025 53 $5.8B STUB, FLUT, CEG, AMZN, NVT Q3 2025 49 $5.6B GLW, TEVA, STUB, NVT, SCHW Q2 2025 46 $4.6B TEVA, GLW, ILMN, LITE, COF Q1 2025 38 $4.5B WCC, GLW, SCHW, PCG, TEVA Q4 2024 40 $4.4B CRH, TEVA, WCC, SCHW, CPNG Q3 2024 44 $3.6B CPNG, COHR, CRH, WCC, MRVL Q2 2024 52 $3.5B CPNG, COHR, AMZN, CRH, MRVL Q1 2024 48 $3.3B CPNG, ARMK, AMZN, MSFT, FCX