Third Point
Third Point LLC is an investment management firm founded and run by Daniel S. Loeb, a prominent figure in the world of finance known for his sharp investment acumen and sometimes confrontational style. The firm, based in New York, employs an event-driven, value-oriented investment philosophy, focusing on public equity, debt, and special situations. Third Point is known for its assertive approach, often engaging in active dialogue with management teams of companies within its portfolio to enhance shareholder value.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 30 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| AMZN | $404.0M | 19.40% | $208.27 | $245.71 | +18.0% | 19.4% | |
| TDS | $277.9M | 13.34% | $42.06 | $35.42 | -15.8% | 13.3% | |
| CRH | $199.7M | 9.59% | $104.74 | $105.91 | +1.1% | 9.6% | |
| SGI | $167.9M | 8.06% | $73.73 | $75.24 | +2.0% | 8.1% | |
| CRS | $122.2M | 5.87% | $393.97 | $593.41 | +50.6% | 5.9% | |
| MTZ | $103.0M | 4.94% | $321.74 | $358.06 | +11.3% | 4.9% | |
| DHR | $99.5M | 4.78% | $189.21 | $193.44 | +2.2% | 4.8% | |
| TSM | $92.9M | 4.46% | $337.16 | $430.61 | +27.7% | 4.5% | |
| APG | $82.3M | 3.95% | $40.52 | $41.13 | +1.5% | 4.0% | |
| LYV | $70.9M | 3.40% | $152.51 | $184.62 | +21.1% | 3.4% | |
| META | $51.5M | 2.47% | $571.60 | $619.47 | +8.4% | 2.5% | |
| GOOGL | $50.3M | 2.42% | $287.39 | $368.78 | +28.3% | 2.4% | |
| GLD | $40.9M | 1.96% | $430.29 | $378.33 | -12.1% | 2.0% | |
| HUT | $40.8M | 1.96% | $46.91 | $96.71 | +106.2% | 2.0% | |
| NVDA | $33.1M | 1.59% | $174.40 | $196.37 | +12.6% | 1.6% | |
| TDG | $29.0M | 1.39% | $1158.96 | $1330.66 | +14.8% | 1.4% | |
| NSC | $28.7M | 1.38% | $285.76 | $321.52 | +12.5% | 1.4% | |
| COF | $25.5M | 1.23% | $181.65 | $203.99 | +12.3% | 1.2% | |
| UNP | $24.3M | 1.16% | $241.37 | $282.74 | +17.1% | 1.2% | |
| SRTA | $20.9M | 1.00% | $4.18 | $5.24 | +25.4% | 1.0% | |
| KLAC | $16.2M | 0.78% | $147.05 | $213.77 | +45.4% | 0.8% | |
| LRCX | $16.0M | 0.77% | $213.51 | $322.23 | +50.9% | 0.8% | |
| ASML | $15.8M | 0.76% | $1317.95 | $1737.26 | +31.8% | 0.8% | |
| AVGO | $15.5M | 0.74% | $309.02 | $368.08 | +19.1% | 0.7% | |
| SMH | $15.3M | 0.74% | $383.40 | $577.06 | +50.5% | 0.7% | |
| SN | $13.8M | 0.66% | $105.90 | $151.20 | +42.8% | 0.7% | |
| HTZWW | $9.1M | 0.43% | $2.04 | $0.96 | -52.9% | 0.4% | |
| SPRY | $8.0M | 0.39% | $8.03 | $8.17 | +1.7% | 0.4% | |
| AUR | $4.3M | 0.20% | $4.12 | $6.39 | +55.1% | 0.2% | |
| FLYX | $2.3M | 0.11% | $2.26 | $1.82 | -19.5% | 0.1% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (8)
| Ticker | Issuer | Notional | Since Filing |
|---|---|---|---|
| META | $51.5M | +8.4% | |
| GOOGL | $50.3M | +28.3% | |
| GLD | $40.9M | -12.1% | |
| HUT | $40.8M | +106.2% | |
| TDG | $29.0M | +14.8% | |
| KLAC | $16.2M | +45.4% | |
| LRCX | $16.0M | +50.9% | |
| ASML | $15.8M | +31.8% |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| PCG | $551.2M | |
| MSFT | $447.4M | |
| BN | $284.5M | |
| CASY | $251.5M | |
| CSGP | $212.8M | |
| RKT | $184.2M | |
| LPLA | $182.2M | |
| CMG | $174.8M |
Increased (1)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| SPRY | $1.6M | +79.8% | +1.7% |
Trimmed (8)
| Ticker | Issuer | Notional | Shares Δ | Since Filing |
|---|---|---|---|---|
| UNP | $-394.4M | -94.5% | +17.1% | |
| NVDA | $-517.0M | -93.6% | +12.6% | |
| NSC | $-252.8M | -89.7% | +12.5% | |
| SN | $-120.5M | -89.1% | +42.8% | |
| COF | $-241.1M | -87.3% | +12.3% | |
| LYV | $-174.9M | -73.0% | +21.1% | |
| CTEV | $-5.5M | -69.7% | ||
| MTZ | $-98.1M | -65.4% | +11.3% |
Quarter Activity
During the quarter, Third Point initiated notable new positions in META and GOOGL, each valued around $50 million, and in GLD and HUT, each approximately $41 million. The fund exited significant holdings in PCG and MSFT, with the positions previously valued at $551 million and $447 million, respectively. Additionally, there was a marked decrease in investments in UNP and NVDA, each reduced by about $94 million.
AI Commentary
<p>As of the end of Q1 2026, Third Point's portfolio showcases a significant concentration in technology and industrial sectors. The fund's top holdings include Amazon.com Inc (AMZN) with a 19.4% portfolio weight, Telephone & Data Systems Inc (TDS) at 13.3%, and CRH PLC (CRH) at 9.6%. Other notable positions are SomniGroup International Inc (SGI) and Carpenter Technology Corp (CRS), emphasizing a diverse mix within tech and industrials. This sector focus is further underscored by positions in MasTec Inc (MTZ) and Danaher Corp Del (DHR), highlighting the fund's strategic allocation towards growth-oriented and infrastructure-related stocks.</p> <p>The recent portfolio adjustments signal a strategic shift in Third Point’s investment thesis. The closure of substantial positions in Pacific Gas and Electric Co (PCG), Microsoft Corp (MSFT), and others, paired with the initiation of stakes in Meta Platforms Inc (META) and Alphabet Inc (GOOGL), suggest a pivot towards high-growth tech giants potentially due to favorable market conditions or company-specific prospects. Additionally, the significant reductions in Union Pacific Corp (UNP) and NVIDIA Corp (NVDA) indicate a scaling back in certain tech and transportation exposures, possibly reflecting concerns over these sectors or a reallocation of capital towards more promising opportunities. The entry into gold with a position in GLD also hints at a hedging strategy against market volatility or inflationary pressures.</p>