PointState Capital LP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SMH	VANECK ETF TRUST	1,380,000	$496,979	7.3%	—	—	PUT	92189F676
CEG	CONSTELLATION ENERGY CORP	827,626	$292,375	4.3%	$363.20	0.0%	COM	21037T109
FCX	FREEPORT-MCMORAN INC	3,908,710	$198,523	2.9%	$43.31	0.0%	CL B	35671D857
CRS	CARPENTER TECHNOLOGY CORP	450,000	$141,678	2.1%	$248.73	+20.8%	CALL	144285103
XYZ	BLOCK INC	2,057,224	$133,905	2.0%	$68.98	0.0%	CL A	852234103
DASH	DOORDASH INC	545,564	$123,559	1.8%	$234.56	0.0%	CL A	25809K105
BAC	BANK AMERICA CORP	1,418,828	$78,036	1.1%	$52.67	0.0%	COM	060505104
COPX	GLOBAL X FDS	752,364	$54,012	0.8%	$71.79	—	GLOBAL X COPPER	37954Y830
ETR	ENTERGY CORP NEW	310,325	$28,683	0.4%	$94.54	0.0%	COM	29364G103
PAM	PAMPA ENERGIA S A	271,221	$24,006	0.4%	$88.51	—	SPONS ADR LVL I	697660207
VALE	VALE S A	1,542,021	$20,093	0.3%	$13.03	—	SPONSORED ADS	91912E105
LSCC	LATTICE SEMICONDUCTOR CORP	270,613	$19,912	0.3%	$73.58	—	COM	518415104
HUT	HUT 8 CORP	232,938	$10,701	0.2%	$44.08	0.0%	COM	44812J104
UNP	UNION PAC CORP	45,466	$10,517	0.2%	$227.32	0.0%	COM	907818108
SATS	ECHOSTAR CORP	87,273	$9,487	0.1%	$81.43	0.0%	CL A	278768106
XP	XP INC	571,756	$9,360	0.1%	$17.61	0.0%	CL A	G98239109
—	RAMACO RES INC	220,000	$185	0.0%	$0.84	—	NOTE 11/0	75134PAB1

Increased Positions (23)

FLUT FLUTTER ENTMT PLC 4.4%

Value ($000) $300,999 (+97.0%) Shares 1,399,735 (+132.7%) Est. Cost $221.07 Unrealized +1.7%

GRAB GRAB HOLDINGS LIMITED 2.4%

Value ($000) $162,452 (+323.7%) Shares 32,555,483 (+411.1%) Est. Cost $5.30 Unrealized +4.3%

AMZN AMAZON COM INC 4.3%

Value ($000) $289,992 (+51.4%) Shares 1,256,355 (+44.0%) Est. Cost $212.91 Unrealized +7.5%

GGAL GRUPO FINANCIERO GALICIA S.A 1.3%

Value ($000) $85,926 (+429.7%) Shares 1,592,990 (+170.6%) Est. Cost $51.58 Unrealized —

WAB WABTEC 1.8%

Value ($000) $119,182 (+130.5%) Shares 558,359 (+116.4%) Est. Cost $201.48 Unrealized +1.9%

BMA BANCO MACRO SA 1.1%

Value ($000) $77,311 (+682.1%) Shares 857,488 (+266.9%) Est. Cost $83.94 Unrealized —

CAI CARIS LIFE SCIENCES INC 2.7%

Value ($000) $181,271 (+54.3%) Shares 6,718,707 (+73.0%) Est. Cost $28.48 Unrealized -1.1%

ARMK ARAMARK 2.6%

Value ($000) $174,630 (+39.7%) Shares 4,737,646 (+45.5%) Est. Cost $35.78 Unrealized +6.0%

CX CEMEX SAB DE CV 2.9%

Value ($000) $198,584 (+32.0%) Shares 17,283,246 (+3.3%) Est. Cost $7.08 Unrealized —

VST VISTRA CORP 0.8%

Value ($000) $55,233 (+348.4%) Shares 342,360 (+444.5%) Est. Cost $170.27 Unrealized +6.8%

TSEM TOWER SEMICONDUCTOR LTD 0.8%

Value ($000) $56,434 (+175.3%) Shares 480,614 (+69.5%) Est. Cost $71.71 Unrealized +34.3%

BBAR BANCO BBVA ARGENTINA S A 0.7%

Value ($000) $48,211 (+248.6%) Shares 2,668,038 (+60.5%) Est. Cost $15.68 Unrealized —

CPNG COUPANG INC 2.7%

Value ($000) $185,492 (+13.2%) Shares 7,863,165 (+54.5%) Est. Cost $22.02 Unrealized +29.2%

RBRK RUBRIK INC. 2.4%

Value ($000) $160,608 (+14.7%) Shares 2,100,000 (+23.4%) Est. Cost $84.21 Unrealized -8.9%

IOT SAMSARA INC 0.9%

Value ($000) $61,579 (+37.4%) Shares 1,737,068 (+44.4%) Est. Cost $37.62 Unrealized +2.9%

SUPV GRUPO SUPERVIELLE S.A. 0.3%

Value ($000) $17,955 (+333.5%) Shares 1,519,056 (+81.5%) Est. Cost $12.08 Unrealized —

GLNG GOLAR LNG LTD 2.2%

Value ($000) $146,314 (+9.9%) Shares 3,932,104 (+19.3%) Est. Cost $38.48 Unrealized -1.0%

STUB STUBHUB HLDGS INC 4.9%

Value ($000) $335,860 (-3.7%) Shares 24,823,335 (+19.9%) Est. Cost $17.90 Unrealized -12.2%

LOMA LOMA NEGRA C I A S A MTN 14 0.2%

Value ($000) $14,643 (+506.8%) Shares 1,130,732 (+245.3%) Est. Cost $11.33 Unrealized —

EXE EXPAND ENERGY CORPORATION 0.6%

Value ($000) $39,882 (+40.9%) Shares 361,377 (+35.6%) Est. Cost $109.50 Unrealized +1.0%

WAY WAYSTAR HLDG CORP 1.3%

Value ($000) $90,824 (+14.1%) Shares 2,773,241 (+32.1%) Est. Cost $36.71 Unrealized -3.0%

METC RAMACO RES INC 0.3%

Value ($000) $17,985 (+66.3%) Shares 999,187 (+206.5%) Est. Cost $25.29 Unrealized +3.9%

CCC CCC INTELLIGENT SOLUTIONS HL 2.2%

Value ($000) $150,454 (+0.9%) Shares 18,925,086 (+15.6%) Est. Cost $9.08 Unrealized -10.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FLUT	FLUTTER ENTMT PLC	1,399,735 (+132.7%)	$300,999 (+97.0%)	4.4%	$221.07	+1.7%	SHS	G3643J108
GRAB	GRAB HOLDINGS LIMITED	32,555,483 (+411.1%)	$162,452 (+323.7%)	2.4%	$5.30	+4.3%	CLASS A ORD	G4124C109
AMZN	AMAZON COM INC	1,256,355 (+44.0%)	$289,992 (+51.4%)	4.3%	$212.91	+7.5%	COM	023135106
GGAL	GRUPO FINANCIERO GALICIA S.A	1,592,990 (+170.6%)	$85,926 (+429.7%)	1.3%	$51.58	—	SPONSORED ADR	399909100
WAB	WABTEC	558,359 (+116.4%)	$119,182 (+130.5%)	1.8%	$201.48	+1.9%	COM	929740108
BMA	BANCO MACRO SA	857,488 (+266.9%)	$77,311 (+682.1%)	1.1%	$83.94	—	SPON ADR B	05961W105
CAI	CARIS LIFE SCIENCES INC	6,718,707 (+73.0%)	$181,271 (+54.3%)	2.7%	$28.48	-1.1%	COM	142152107
ARMK	ARAMARK	4,737,646 (+45.5%)	$174,630 (+39.7%)	2.6%	$35.78	+6.0%	COM	03852U106
CX	CEMEX SAB DE CV	17,283,246 (+3.3%)	$198,584 (+32.0%)	2.9%	$7.08	—	SPON ADR NEW	151290889
VST	VISTRA CORP	342,360 (+444.5%)	$55,233 (+348.4%)	0.8%	$170.27	+6.8%	COM	92840M102
TSEM	TOWER SEMICONDUCTOR LTD	480,614 (+69.5%)	$56,434 (+175.3%)	0.8%	$71.71	+34.3%	SHS NEW	M87915274
BBAR	BANCO BBVA ARGENTINA S A	2,668,038 (+60.5%)	$48,211 (+248.6%)	0.7%	$15.68	—	SPONSORED ADS	058934100
CPNG	COUPANG INC	7,863,165 (+54.5%)	$185,492 (+13.2%)	2.7%	$22.02	+29.2%	CL A	22266T109
RBRK	RUBRIK INC.	2,100,000 (+23.4%)	$160,608 (+14.7%)	2.4%	$84.21	-8.9%	CL A	781154109
IOT	SAMSARA INC	1,737,068 (+44.4%)	$61,579 (+37.4%)	0.9%	$37.62	+2.9%	COM CL A	79589L106
SUPV	GRUPO SUPERVIELLE S.A.	1,519,056 (+81.5%)	$17,955 (+333.5%)	0.3%	$12.08	—	SPONSORED ADR	40054A108
GLNG	GOLAR LNG LTD	3,932,104 (+19.3%)	$146,314 (+9.9%)	2.2%	$38.48	-1.0%	SHS	G9456A100
STUB	STUBHUB HLDGS INC	24,823,335 (+19.9%)	$335,860 (-3.7%)	4.9%	$17.90	-12.2%	CL A	86384P109
LOMA	LOMA NEGRA C I A S A MTN 14	1,130,732 (+245.3%)	$14,643 (+506.8%)	0.2%	$11.33	—	SPONSORED ADS	54150E104
EXE	EXPAND ENERGY CORPORATION	361,377 (+35.6%)	$39,882 (+40.9%)	0.6%	$109.50	+1.0%	COM	165167735
WAY	WAYSTAR HLDG CORP	2,773,241 (+32.1%)	$90,824 (+14.1%)	1.3%	$36.71	-3.0%	COM	946784105
METC	RAMACO RES INC	999,187 (+206.5%)	$17,985 (+66.3%)	0.3%	$25.29	+3.9%	COM CL A	75134P600
CCC	CCC INTELLIGENT SOLUTIONS HL	18,925,086 (+15.6%)	$150,454 (+0.9%)	2.2%	$9.08	-10.4%	COM	12510Q100

Exited Positions (15)

GLW CORNING INC 5.1%

Value ($000) $344,526 Shares 4,200,000 Est. Cost $48.33 Unrealized +77.9%

PCG PG&E CORP 3.3%

Value ($000) $226,200 Shares 15,000,000 Est. Cost $16.40 Unrealized -2.9%

EEM ISHARES TR 2.8%

Value ($000) $186,900 Shares 3,500,000 Est. Cost — Unrealized —

EXPE EXPEDIA GROUP INC 1.3%

Value ($000) $91,440 Shares 427,789 Est. Cost $155.44 Unrealized +58.8%

MSFT MICROSOFT CORP 0.8%

Value ($000) $55,765 Shares 107,665 Est. Cost $508.71 Unrealized -1.6%

RGEN REPLIGEN CORP 0.8%

Value ($000) $54,738 Shares 409,503 Est. Cost $121.47 Unrealized +28.9%

XLF SELECT SECTOR SPDR TR 0.8%

Value ($000) $53,870 Shares 1,000,000 Est. Cost — Unrealized —

APP APPLOVIN CORP 0.8%

Value ($000) $51,926 Shares 72,266 Est. Cost $461.14 Unrealized +36.6%

RBLX ROBLOX CORP 0.5%

Value ($000) $33,920 Shares 244,877 Est. Cost $111.33 Unrealized -4.6%

ROIV ROIVANT SCIENCES LTD 0.4%

Value ($000) $27,104 Shares 1,791,440 Est. Cost $10.80 Unrealized +82.7%

COHR COHERENT CORP 0.3%

Value ($000) $22,563 Shares 209,458 Est. Cost $57.69 Unrealized +159.3%

PINS PINTEREST INC 0.3%

Value ($000) $22,297 Shares 693,103 Est. Cost $36.26 Unrealized -20.6%

NRG NRG ENERGY INC 0.2%

Value ($000) $10,820 Shares 66,812 Est. Cost $155.26 Unrealized +6.5%

— PG&E CORP 0.1%

Value ($000) $10,133 Shares 10,000,000 Est. Cost $1.06 Unrealized —

SRE SEMPRA 0.1%

Value ($000) $6,850 Shares 76,129 Est. Cost $75.52 Unrealized +19.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLW	CORNING INC	4,200,000	$344,526	5.1%	$48.33	+77.9%	CALL	219350105
PCG	PG&E CORP	15,000,000	$226,200	3.3%	$16.40	-2.9%	CALL	69331C108
EEM	ISHARES TR	3,500,000	$186,900	2.8%	—	—	CALL	464287234
EXPE	EXPEDIA GROUP INC	427,789	$91,440	1.3%	$155.44	+58.8%	—	30212P303
MSFT	MICROSOFT CORP	107,665	$55,765	0.8%	$508.71	-1.6%	—	594918104
RGEN	REPLIGEN CORP	409,503	$54,738	0.8%	$121.47	+28.9%	—	759916109
XLF	SELECT SECTOR SPDR TR	1,000,000	$53,870	0.8%	—	—	CALL	81369Y605
APP	APPLOVIN CORP	72,266	$51,926	0.8%	$461.14	+36.6%	—	03831W108
RBLX	ROBLOX CORP	244,877	$33,920	0.5%	$111.33	-4.6%	—	771049103
ROIV	ROIVANT SCIENCES LTD	1,791,440	$27,104	0.4%	$10.80	+82.7%	—	G76279101
COHR	COHERENT CORP	209,458	$22,563	0.3%	$57.69	+159.3%	—	19247G107
PINS	PINTEREST INC	693,103	$22,297	0.3%	$36.26	-20.6%	—	72352L106
NRG	NRG ENERGY INC	66,812	$10,820	0.2%	$155.26	+6.5%	—	629377508
—	PG&E CORP	10,000,000	$10,133	0.1%	$1.06	—	—	69331CAL2
SRE	SEMPRA	76,129	$6,850	0.1%	$75.52	+19.9%	—	816851109

Decreased Positions (15)

GLW CORNING INC 1.1%

Value ($000) $75,018 (-84.8%) Shares 856,764 (-85.7%) Est. Cost $48.33 Unrealized +77.9%

TEVA TEVA PHARMACEUTICAL INDS LTD 1.7%

Value ($000) $118,410 (-71.7%) Shares 3,793,986 (-81.7%) Est. Cost $16.90 Unrealized —

TLN TALEN ENERGY CORP 0.7%

Value ($000) $50,930 (-77.5%) Shares 135,870 (-74.5%) Est. Cost $294.01 Unrealized +32.2%

CRH CRH PLC 0.6%

Value ($000) $44,025 (-71.9%) Shares 352,765 (-73.0%) Est. Cost $85.76 Unrealized +38.9%

ILMN ILLUMINA INC 1.0%

Value ($000) $69,770 (-59.2%) Shares 531,942 (-70.4%) Est. Cost $120.97 Unrealized -3.0%

OKTA OKTA INC 0.1%

Value ($000) $7,203 (-92.0%) Shares 83,300 (-91.5%) Est. Cost $96.53 Unrealized -9.6%

ILMN ILLUMINA INC 1.2%

Value ($000) $84,847 (-45.8%) Shares 646,900 (-60.7%) Est. Cost $120.97 Unrealized -3.0%

RKT ROCKET COS INC 1.8%

Value ($000) $120,488 (-25.7%) Shares 6,223,575 (-25.6%) Est. Cost $15.55 Unrealized +14.9%

COF CAPITAL ONE FINL CORP 2.7%

Value ($000) $183,725 (-18.2%) Shares 758,066 (-28.2%) Est. Cost $176.77 Unrealized +25.7%

PCG PG&E CORP 2.8%

Value ($000) $189,546 (-10.4%) Shares 11,794,997 (-15.9%) Est. Cost $16.40 Unrealized -2.9%

NTRA NATERA INC 2.4%

Value ($000) $163,913 (-9.6%) Shares 715,495 (-36.5%) Est. Cost $153.62 Unrealized +35.8%

CRS CARPENTER TECHNOLOGY CORP 2.8%

Value ($000) $192,749 (-6.3%) Shares 612,211 (-27.0%) Est. Cost $248.73 Unrealized +20.8%

WCC WESCO INTL INC 2.2%

Value ($000) $149,843 (+2.8%) Shares 612,505 (-11.1%) Est. Cost $193.39 Unrealized +26.7%

EQT EQT CORP 0.2%

Value ($000) $10,424 (-26.1%) Shares 194,486 (-25.0%) Est. Cost $53.58 Unrealized +4.8%

NVT NVENT ELECTRIC PLC 3.6%

Value ($000) $242,572 (-0.5%) Shares 2,378,858 (-3.8%) Est. Cost $62.55 Unrealized +65.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLW	CORNING INC	856,764 (-85.7%)	$75,018 (-84.8%)	1.1%	$48.33	+77.9%	COM	219350105
TEVA	TEVA PHARMACEUTICAL INDS LTD	3,793,986 (-81.7%)	$118,410 (-71.7%)	1.7%	$16.90	—	SPONSORED ADS	881624209
TLN	TALEN ENERGY CORP	135,870 (-74.5%)	$50,930 (-77.5%)	0.7%	$294.01	+32.2%	COM	87422Q109
CRH	CRH PLC	352,765 (-73.0%)	$44,025 (-71.9%)	0.6%	$85.76	+38.9%	ORD	G25508105
ILMN	ILLUMINA INC	531,942 (-70.4%)	$69,770 (-59.2%)	1.0%	$120.97	-3.0%	COM	452327109
OKTA	OKTA INC	83,300 (-91.5%)	$7,203 (-92.0%)	0.1%	$96.53	-9.6%	CL A	679295105
ILMN	ILLUMINA INC	646,900 (-60.7%)	$84,847 (-45.8%)	1.2%	$120.97	-3.0%	CALL	452327109
RKT	ROCKET COS INC	6,223,575 (-25.6%)	$120,488 (-25.7%)	1.8%	$15.55	+14.9%	COM CL A	77311W101
COF	CAPITAL ONE FINL CORP	758,066 (-28.2%)	$183,725 (-18.2%)	2.7%	$176.77	+25.7%	COM	14040H105
PCG	PG&E CORP	11,794,997 (-15.9%)	$189,546 (-10.4%)	2.8%	$16.40	-2.9%	COM	69331C108
NTRA	NATERA INC	715,495 (-36.5%)	$163,913 (-9.6%)	2.4%	$153.62	+35.8%	COM	632307104
CRS	CARPENTER TECHNOLOGY CORP	612,211 (-27.0%)	$192,749 (-6.3%)	2.8%	$248.73	+20.8%	COM	144285103
WCC	WESCO INTL INC	612,505 (-11.1%)	$149,843 (+2.8%)	2.2%	$193.39	+26.7%	COM	95082P105
EQT	EQT CORP	194,486 (-25.0%)	$10,424 (-26.1%)	0.2%	$53.58	+4.8%	COM	26884L109
NVT	NVENT ELECTRIC PLC	2,378,858 (-3.8%)	$242,572 (-0.5%)	3.6%	$62.55	+65.7%	SHS	G6700G107

Unchanged Positions (4)

TEVA TEVA PHARMACEUTICAL INDS LTD 1.7%

Value ($000) $114,606 Shares 3,672,100 Est. Cost $16.90 Unrealized —

CX CEMEX SAB DE CV 1.5%

Value ($000) $103,410 Shares 9,000,000 Est. Cost $7.08 Unrealized —

SCHW SCHWAB CHARLES CORP 3.5%

Value ($000) $240,598 Shares 2,408,147 Est. Cost $73.82 Unrealized +28.3%

ALVO ALVOTECH 0.1%

Value ($000) $5,382 Shares 1,049,039 Est. Cost $12.91 Unrealized -51.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TEVA	TEVA PHARMACEUTICAL INDS LTD	3,672,100	$114,606	1.7%	$16.90	—	CALL	881624209
CX	CEMEX SAB DE CV	9,000,000	$103,410	1.5%	$7.08	—	CALL	151290889
SCHW	SCHWAB CHARLES CORP	2,408,147	$240,598	3.5%	$73.82	+28.3%	COM	808513105
ALVO	ALVOTECH	1,049,039	$5,382	0.1%	$12.91	-51.1%	ORDINARY SHARES	L01800108