Third Point LLC
SuperinvestorThird Point
- SEC CIK
- 0001040273
- Manager
- Daniel Loeb
- Style
- Activist, Hedge fund
Q4 2025 vs. Q3 2025
Positions are compared by share count, long positions only.
All holdings in Q4 2025All holdings in Q3 2025
| Measure | Q3 2025 | Q4 2025 | Change |
|---|---|---|---|
| Positions | 44 | 44 | 0 |
| Total value | $8.38B | $7.27B | −$1.11B (−13.2%) |
New positions (11)
Held at the end of Q4 2025 but not at the end of Q3 2025.
| Security | Class | Shares, Q4 2025 | Value, Q4 2025 | % of portfolio, Q4 2025 |
|---|---|---|---|---|
| CMGCHIPOTLE MEXICAN GRILL INC | COM | 4,725,000 | $174.83M | 2.40% |
| CEGCONSTELLATION ENERGY CORP COM | Stock | 475,000 | $167.8M | 2.31% |
| BABAALIBABA GROUP HLDG LTD SPONSORED ADS | ADR | 825,000 | $120.93M | 1.66% |
| APGAPI GROUP CORP | COM STK | 3,000,000 | $114.78M | 1.58% |
| SPOTSPOTIFY TECHNOLOGY S A SHS | Stock | 100,000 | $58.07M | 0.80% |
| PGRPROGRESSIVE CORP COM | Stock | 220,000 | $50.1M | 0.69% |
| TMOTHERMO FISHER SCIENTIFIC INC COM | Stock | 50,000 | $28.97M | 0.40% |
| WIXWIX COM LTD | SHS | 225,000 | $23.38M | 0.32% |
| CSXCSX CORP COM | Stock | 500,000 | $18.13M | 0.25% |
| SPRYARS PHARMACEUTICALS INC | COM | 556,237 | $6.48M | 0.09% |
| CTEVCLARITEV CORPORATION | CL A NEW | 145,000 | $6.2M | 0.09% |
Added (12)
More shares at the end of Q4 2025 than at the end of Q3 2025.
| Security | Class | Shares, Q3 2025 | Shares, Q4 2025 | Change in shares | Value, Q4 2025 | % of portfolio, Q4 2025 |
|---|---|---|---|---|---|---|
| NVDANVIDIA CORPORATION COM | Stock | 2,850,000 | 2,950,000 | +100,000+3.5% | $550.18M | 7.56% |
| UNPUNION PAC CORP COM | Stock | 875,000 | 1,810,000 | +935,000+106.9% | $418.69M | 5.76% |
| CRHCRH PLC | ORD | 2,165,000 | 2,600,000 | +435,000+20.1% | $324.48M | 4.46% |
| SGISOMNIGROUP INTERNATIONAL INC | COM | 3,000,000 | 3,400,000 | +400,000+13.3% | $303.55M | 4.17% |
| BNBROOKFIELD CORP | CL A LTD VT SH | 4,675,000 | 6,200,000 | +1,525,000+32.6% | $284.52M | 3.91% |
| LYVLIVE NATION ENTERTAINMENT IN | COM | 1,350,000 | 1,725,000 | +375,000+27.8% | $245.81M | 3.38% |
| CSGPCOSTAR GROUP INC | COM | 3,017,000 | 3,165,000 | +148,000+4.9% | $212.81M | 2.93% |
| MTZMASTEC INC | COM | 725,000 | 925,000 | +200,000+27.6% | $201.07M | 2.76% |
| RKTROCKET COS INC COM CL A | Stock | 4,000,000 | 9,515,000 | +5,515,000+137.9% | $184.21M | 2.53% |
| VSTVISTRA CORP COM | Stock | 935,000 | 1,005,000 | +70,000+7.5% | $162.14M | 2.23% |
| DHRDANAHER CORP DEL COM | Stock | 50,000 | 600,000 | +550,000+1,100.0% | $137.35M | 1.89% |
| BHCBAUSCH HEALTH COS INC COM | Stock | 100,000 | 350,000 | +250,000+250.0% | $2.43M | 0.03% |
Reduced (13)
Fewer shares at the end of Q4 2025 than at the end of Q3 2025.
| Security | Class | Shares, Q3 2025 | Shares, Q4 2025 | Change in shares | Value, Q4 2025 | % of portfolio, Q4 2025 |
|---|---|---|---|---|---|---|
| PCGPG&E CORP COM | Stock | 50,100,000 | 34,300,000 | −15,800,000−31.5% | $551.2M | 7.58% |
| AMZNAMAZON COM INC COM | Stock | 2,810,000 | 2,165,000 | −645,000−23.0% | $499.73M | 6.87% |
| MSFTMICROSOFT CORP COM | Stock | 1,100,000 | 925,000 | −175,000−15.9% | $447.35M | 6.15% |
| NSCNORFOLK SOUTHN CORP COM | Stock | 1,650,000 | 975,000 | −675,000−40.9% | $281.5M | 3.87% |
| TDSTELEPHONE & DATA SYS INC | COM NEW | 6,707,274 | 6,675,000 | −32,274−0.5% | $273.68M | 3.76% |
| COFCAPITAL ONE FINL CORP COM | Stock | 1,385,000 | 1,100,000 | −285,000−20.6% | $266.6M | 3.66% |
| CASYCASEYS GEN STORES INC | COM | 500,000 | 455,000 | −45,000−9.0% | $251.48M | 3.46% |
| CRSCARPENTER TECHNOLOGY CORP | COM | 850,000 | 785,000 | −65,000−7.6% | $247.15M | 3.40% |
| LPLALPL FINL HLDGS INC | COM | 594,143 | 510,000 | −84,143−14.2% | $182.16M | 2.50% |
| SNSHARKNINJA INC | COM SHS | 1,800,000 | 1,200,000 | −600,000−33.3% | $134.28M | 1.85% |
| TSMTAIWAN SEMICONDUCTOR MANUFACT SPONSORED ADS | ADR | 1,100,000 | 425,000 | −675,000−61.4% | $129.15M | 1.78% |
| FIXCOMFORT SYS USA INC | COM | 200,000 | 105,000 | −95,000−47.5% | $98M | 1.35% |
| KVUEKENVUE INC COM | Stock | 9,000,000 | 3,250,000 | −5,750,000−63.9% | $56.06M | 0.77% |
Sold out (11)
Held at the end of Q3 2025, gone by the end of Q4 2025.
| Security | Class | Shares, Q3 2025 | Value, Q3 2025 | % of portfolio, Q3 2025 |
|---|---|---|---|---|
| FLUTFLUTTER ENTMT PLC | SHS | 1,120,000 | $284.48M | 3.39% |
| MR COOPER GROUP INC62482R107 | COM | 925,000 | $194.98M | 2.33% |
| METAMETA PLATFORMS INC CL A | Stock | 220,000 | $161.56M | 1.93% |
| TLNTALEN ENERGY CORP | COM | 350,000 | $148.88M | 1.78% |
| JJACOBS SOLUTIONS INC | COM | 915,000 | $137.12M | 1.64% |
| PRMBPRIMO BRANDS CORPORATION | CLASS A COM SHS | 5,775,000 | $127.63M | 1.52% |
| FNDFLOOR & DECOR HLDGS INC | CL A | 1,330,000 | $98.02M | 1.17% |
| APOAPOLLO GLOBAL MGMT INC | COM | 650,000 | $86.63M | 1.03% |
| APOLLO GLOBAL MGMT INC03769M304 | SER A MAND CNV | 900,000 | $63.25M | 0.75% |
| CORZCORE SCIENTIFIC INC NEW | COM | 3,000,000 | $53.82M | 0.64% |
| CYHCOMMUNITY HEALTH SYS INC NEW | COM | 150,000 | $481.5K | 0.01% |