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PointState Capital LP
Zachary J. Schreiber · Hedge Fund · Multi-Strategy
PointState Capital LP is a New York-based investment management firm founded in 2011 by Zachary J. Schreiber and a group of former senior professionals from Stanley Druckenmiller's Duquesne Capital Management. The firm manages private investment funds for institutional and accredited investors, specializing in a diversified range of asset classes including global equities, commodities, currencies, fixed income, and credit. Upon its inception, PointState was notable for launching with one of the largest pools of capital in hedge fund history, approximately $5 billion. The institution is recognized for its sector-specific expertise in industries such as energy and healthcare and its ability to navigate complex market environments through both global macro and long/short equity strategies.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +26.5% |
| YTD return | +11.6% |
| Sharpe ratio | 3.78 |
| Win rate | 40% |
| AUM | $5.1B |
| Inception | Oct 1, 2025 |
| Updated | Sep 18, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $5.1B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.pointstate.com/ |
Current Holdings
Updated on Sep 18, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| PCG | PG&E Corp | 22.9% | -8.7% |
| DASH | DoorDash, Inc. Class A Common Stock | 7.3% | +19.6% |
| AMZN | Amazon.com Inc | 7.1% | -4.8% |
| RTX | Raytheon Technologies Corp | 5.8% | -8.4% |
| GRAB | Grab Holdings Ltd | 5.1% | -20.7% |
| META | Meta Platforms Inc. | 4.9% | +15.2% |
| XYZ | Block, Inc | 4.9% | +16.0% |
| Q | Qnity Electronics, Inc | 4.5% | -23.4% |
| DKNG | DraftKings Inc | 4.2% | -13.9% |
| FLS | Flowserve Corporation | 3.8% | -8.0% |
| WAB | Westinghouse Air Brake Technologies Corp | 3.5% | +6.7% |
| COF | Capital One Financial Corporation | 3.5% | -4.3% |
| ILMN | Illumina Inc | 3.5% | +11.1% |
| RBRK | Rubrik, Inc. | 3.3% | +62.5% |
| CAI | Caris Life Sciences, Inc. Common Stock | 3.2% | +92.7% |
| UNP | Union Pacific Corporation | 2.8% | -9.1% |
| KNX | Knight Transportation Inc | 2.7% | -0.8% |
| ARMK | Aramark Holdings | 2.7% | +37.3% |
| CSX | CSX Corporation | 2.5% | -8.2% |
| UAL | United Airlines Holdings Inc | 1.9% | -1.7% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Sep 14, 2026 | SELL | Q | 4.8% → 4.5% |
| Sep 14, 2026 | SELL | RTX | 7.0% → 5.8% |
| Sep 14, 2026 | SELL | WAB | 4.1% → 3.5% |
| Sep 14, 2026 | SELL | COF | 4.1% → 3.5% |
| Sep 14, 2026 | SELL | CSX | 2.9% → 2.5% |
Investment Style Analysis
PointState Capital LP is widely recognized for employing a Multi-Strategy strategy. As of Sep 18, 2026, the firm oversees approximately $5.1B in assets under management (AUM). The portfolio demonstrates a clear preference for the Utilities - Regulated Electric and Internet Retail sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Sep 14, PointState Capital LP made a significant move by reducing the position in Q. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
PointState Capital employs a global multi-strategy framework that integrates fundamental, macro, and quantitative research to identify alpha-generating opportunities. The firm's philosophy is built on a dynamic asset allocation process that allows it to scale investments based on conviction and market conditions across various economies and asset classes. By combining bottom-up fundamental analysis with top-down macro views, PointState aims to achieve superior capital appreciation while maintaining active risk management. The firm emphasizes flexibility and liquidity, frequently utilizing derivatives and leverage to express investment themes in sectors like healthcare, energy, and commodities, ensuring a diversified portfolio that can adapt to changing global trends.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with PointState Capital LP.
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Frequently asked questions
How is the simulated portfolio for PointState Capital LP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is PointState Capital LP's largest holding?
As of the latest filing, PointState Capital LP's top position is PG&E Corp (PCG), representing 22.9% of the portfolio. This reflects a high-conviction bet by the institution.
What is PointState Capital LP's historical performance and risk profile?
Our simulation indicates a total return of +26.5% with a win rate of 40%. Notably, the portfolio maintains a Sharpe Ratio of 3.78, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does PointState Capital LP primarily invest in?
PointState Capital LP has a strong preference for the Utilities - Regulated Electric sector, which makes up 22.9% of their disclosed assets. The portfolio also has exposure to Internet Retail, indicating a specific thematic focus.
Is PointState Capital LP's portfolio concentrated or diversified?
PointState Capital LP runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 37.3% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has PointState Capital LP performed in 2026?
Our AI-simulated model portfolio for PointState Capital LP tracks a Year-to-Date (YTD) return of +11.6%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Zachary J. Schreiber manage PointState Capital LP directly?
Yes, Zachary J. Schreiber serves as the key portfolio manager for PointState Capital LP, overseeing the investment strategy and final capital allocation decisions.