13F institutional portfolio research
Dan Loeb holdings analysis: Third Point 13F trends
Deterministic analysis from filing data
What changed in Third Point's latest portfolio
Portfolio construction is the clearest first read on Third Point. Q1 2026 reports 33 positions totaling $2.1B. The book is moderately concentrated, with the top five positions representing 56% of total value.
New, increased, reduced, and exited positions reveal the moving parts. The largest measured share-count move this quarter was a trim in UNION PAC CORP by 94.5%. Third Point initiated 10 new positions, the most prominent being META at $51.5M. 21 positions were fully exited, including PG&E CORP (last quarter valued at $551.2M).
The four-quarter record shows whether this filing extends an existing pattern. Compared with the prior four tracked quarters: reported value is meaningfully lower than the trailing average, reflecting net selling as well as quarter-end market values. Exits were also above trend: 21 versus a trailing average of 11.8.
The final cross-check is to place Third Point beside similar tracked allocators. Appaloosa Management (31 positions; top sector: Consumer Discretionary); Soros Fund Management (255 positions; top sector: Consumer Discretionary); Pershing Square (11 positions; top sector: Consumer Discretionary). See the last four quarters table below for the full arc of Third Point's reported activity.
Current snapshot
All reported holdings
33 active positions ranked by reported market value.
| Ticker | Company | Shares | Market value | % of portfolio | Change vs. prior quarter |
|---|---|---|---|---|---|
| AMZN | AMAZON COM INC | 1,940,000 | $404.0M | 19.40% | -10.4% |
| — | TELEPHONE & DATA SYS INC | 6,600,000 | $277.9M | 13.34% | -1.1% |
| — | CRH PLC | 1,900,000 | $199.7M | 9.59% | -26.9% |
| — | SOMNIGROUP INTERNATIONAL INC | 2,270,769 | $167.9M | 8.06% | -33.2% |
| — | CARPENTER TECHNOLOGY CORP | 310,000 | $122.2M | 5.87% | -60.5% |
| — | MASTEC INC | 320,000 | $103.0M | 4.94% | -65.4% |
| — | DANAHER CORP DEL | 525,000 | $99.5M | 4.78% | -12.5% |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | 275,000 | $92.9M | 4.46% | -35.3% |
| — | API GROUP CORP | 2,030,000 | $82.3M | 3.95% | -32.3% |
| — | LIVE NATION ENTERTAINMENT IN | 465,000 | $70.9M | 3.40% | -73.0% |
| META | META PLATFORMS INC | 90,000 | $51.5M | 2.47% | New |
| GOOGL | ALPHABET INC | 175,000 | $50.3M | 2.42% | New |
| — | SPDR GOLD TR | 95,000 | $40.9M | 1.96% | New |
| — | HUT 8 CORP | 869,563 | $40.8M | 1.96% | New |
| NVDA | NVIDIA CORPORATION | 190,000 | $33.1M | 1.59% | -93.6% |
| — | TRANSDIGM GROUP INC | 25,000 | $29.0M | 1.39% | New |
| — | NORFOLK SOUTHN CORP | 100,000 | $28.7M | 1.38% | -89.7% |
| COF | CAPITAL ONE FINL CORP | 140,000 | $25.5M | 1.23% | -87.3% |
| — | UNION PAC CORP | 100,000 | $24.3M | 1.16% | -94.5% |
| — | STRATA CRITICAL MEDICAL INC | 5,000,000 | $20.9M | 1.00% | 0.0% |
| — | KLA CORP | 11,000 | $16.2M | 0.78% | New |
| — | LAM RESEARCH CORP | 75,000 | $16.0M | 0.77% | New |
| — | ASML HLDG NV | 12,000 | $15.8M | 0.76% | New |
| — | BROADCOM INC | 50,000 | $15.5M | 0.74% | New |
| — | VANECK ETF TRUST | 40,000 | $15.3M | 0.74% | New |
| — | SHARKNINJA INC | 130,509 | $13.8M | 0.66% | -89.1% |
| — | HERTZ GLOBAL HLDGS INC | 3,970,000 | $9.1M | 0.43% | 0.0% |
| — | ARS PHARMACEUTICALS INC | 1,000,000 | $8.0M | 0.39% | +79.8% |
| — | AURORA INNOVATION INC | 1,032,463 | $4.3M | 0.20% | 0.0% |
| — | FLYEXCLUSIVE INC | 1,022,000 | $2.3M | 0.11% | 0.0% |
| — | CLARITEV CORPORATION | 44,000 | $0.7M | 0.03% | -69.7% |
| — | AURORA INNOVATION INC | 1,835,000 | $0.4M | 0.02% | 0.0% |
| — | FLYEXCLUSIVE INC | 367,499 | $0.1M | 0.00% | 0.0% |
Quarter-over-quarter activity
Position changes
New buys 10
- META $51.5M · of portfolio 2.47%
- GOOGL $50.3M · of portfolio 2.42%
- SPDR GOLD TR $40.9M · of portfolio 1.96%
- HUT 8 CORP $40.8M · of portfolio 1.96%
- TRANSDIGM GROUP INC $29.0M · of portfolio 1.39%
- KLA CORP $16.2M · of portfolio 0.78%
- LAM RESEARCH CORP $16.0M · of portfolio 0.77%
- ASML HLDG NV $15.8M · of portfolio 0.76%
- BROADCOM INC $15.5M · of portfolio 0.74%
- VANECK ETF TRUST $15.3M · of portfolio 0.74%
Increased positions 1
- ARS PHARMACEUTICALS INC +79.8% · now $8.0M
Reduced positions 16
- UNION PAC CORP -94.5% · now $24.3M
- NVDA -93.6% · now $33.1M
- NORFOLK SOUTHN CORP -89.7% · now $28.7M
- SHARKNINJA INC -89.1% · now $13.8M
- COF -87.3% · now $25.5M
- LIVE NATION ENTERTAINMENT IN -73.0% · now $70.9M
- CLARITEV CORPORATION -69.7% · now $0.7M
- MASTEC INC -65.4% · now $103.0M
- CARPENTER TECHNOLOGY CORP -60.5% · now $122.2M
- TSM -35.3% · now $92.9M
- SOMNIGROUP INTERNATIONAL INC -33.2% · now $167.9M
- API GROUP CORP -32.3% · now $82.3M
- CRH PLC -26.9% · now $199.7M
- DANAHER CORP DEL -12.5% · now $99.5M
- AMZN -10.4% · now $404.0M
- TELEPHONE & DATA SYS INC -1.1% · now $277.9M
Full exits 21
- PG&E CORP Previously $551.2M
- MSFT Previously $447.3M
- BN Previously $284.5M
- CASEYS GEN STORES INC Previously $251.5M
- COSTAR GROUP INC Previously $212.8M
- ROCKET COS INC Previously $184.2M
- LPL FINL HLDGS INC Previously $182.2M
- CMG Previously $174.8M
- CONSTELLATION ENERGY CORP Previously $167.8M
- VISTRA CORP Previously $162.1M
- ALIBABA GROUP HLDG LTD Previously $120.9M
- COMFORT SYS USA INC Previously $98.0M
- SPOTIFY TECHNOLOGY S A Previously $58.1M
- KENVUE INC Previously $56.1M
- PROGRESSIVE CORP Previously $50.1M
- THERMO FISHER SCIENTIFIC INC Previously $29.0M
- WIX COM LTD Previously $23.4M
- CSX CORP Previously $18.1M
- PG&E CORP Previously $10.3M
- PG&E CORP Previously $5.7M
- BAUSCH HEALTH COS INC Previously $2.4M
Portfolio composition
Sector exposure
Sector weights use the site’s current US equity classification map.
| Sector | % of portfolio | QoQ change |
|---|---|---|
| Other / unclassified | 72.90% | -0.45 pts |
| Consumer Discretionary | 19.40% | +10.13 pts |
| Communication Services | 4.89% | +4.89 pts |
| Information Technology | 1.59% | -12.12 pts |
| Financials | 1.23% | -2.44 pts |
Rolling filing history
Last 4 quarters
Values are quarter-end 13F market values, not live portfolio values.
| Quarter | Filing date | Total reported value | Positions | New buys | Exits | Top position |
|---|---|---|---|---|---|---|
| Q1 2026 | 2026-05-15 | $2.1B | 33 | 10 | 21 | AMZN 19.4% |
| Q4 2025 | 2026-02-17 | $7.3B | 44 | 11 | 12 | PG&E CORP 7.6% |
| Q3 2025 | 2025-11-14 | $9.0B | 45 | 10 | 16 | PG&E CORP 8.4% |
| Q2 2025 | 2025-08-14 | $7.6B | 51 | 16 | 10 | PG&E CORP 9.3% |
Related manager research
How this compares
Appaloosa Management
Top reported sector: Consumer Discretionary
255 positionsSoros Fund Management
Top reported sector: Consumer Discretionary
11 positionsPershing Square
Top reported sector: Consumer Discretionary
See every tracked manager on the 13F investors hub.
Filing interpretation
Common questions about Third Point's 13F
- What is Third Point's largest reported holding?
- AMZN is Third Point's largest active reported position at 19.4% of the portfolio. See its size and share count in the Third Point holdings table.
- Which position did Third Point increase most?
- META is the largest increase or new position by current reported value. The Third Point position-change section separates new and increased holdings.
- Which position did Third Point reduce or exit most significantly?
- PG&E CORP is the largest reduction or exit by prior reported value. Compare it with the other actions in Third Point's change grid.
- What new positions did Third Point open this quarter?
- Third Point initiated 10 positions, led by META. Each new holding appears in the Third Point new-buys list.
- How concentrated is Third Point's reported portfolio?
- The five largest positions represent 56.3% of Third Point's reported value. The Third Point holdings ranking shows whether that concentration comes from one dominant stock or several large positions.
- Which sector is most important in Third Point's portfolio?
- Consumer Discretionary is the largest classified sector in Third Point's current reported portfolio. The Third Point sector breakdown shows weights and quarter-over-quarter changes.
- Does Third Point's 13F identify activist positions?
- The filing shows reportable holdings but does not by itself label a position as activist. Schedule 13D filings, company disclosures, and manager letters provide additional context. See the Third Point four-quarter record for the surrounding trend.
Primary-source record
Source and filing details
- CIK
- 0001040273
- SEC accession
- 0001040273-26-000002
- Report quarter
- 2026-03-31
- Filing date
- 2026-05-15
Methodology: how we parse and reconcile 13F filings.
Editorial standards: how we publish.
Disclaimer: 13F data is public, historical, delayed, and incomplete by design. It is not investment advice. Cross-check material data against the original SEC filing record before acting.