In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Dan Loeb's Third Point reported 36 stock positions worth $6.3 billion . Its top holding was P G & E (PCG) at 14.0% of the portfolio, followed by Amazon.com (AMZN, 7.1% ) and Taiwan Semiconductor-SP ADR (TSM, 4.7% ). Compared with Q4 2024, it opened 10 new positions, sold out of 10, added to 9 and reduced 7. The biggest buy was a new position in Kenvue (KVUE) and the biggest sale an exit from Danaher (DHR).
Notable People Dan Loeb
Location NEW YORK, NY
CIK 0001040273
Portfolio Value $6.3B (Q1 2025) Holdings 36 stocks · $6.3B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 PCG P G & E Corp. 51,100,000 $877.9M Add +5.4% AMZN Amazon.com Inc. 2,350,000 $447.1M Reduce -31.9% TSM Taiwan Semiconductor-SP ADR 1,780,000 $295.5M No change LYV Live Nation Entertainment Inc. 2,100,000 $274.2M Add +22.1% TDS Telephone and Data Systems 6,760,000 $261.9M Add +12.7% CRH CRH PLC 2,715,000 $238.8M No change BN Brookfield Corp. 4,240,000 $222.2M Reduce -15.0% FLUT Flutter Entertainment PLC-Di 970,000 $214.9M Add +11.5% KVUE Kenvue Inc. 8,900,000 $213.4M New CPAY Corpay Inc. 610,000 $212.7M No change APO Apollo Global Management Inc. 1,500,000 $205.4M Add +275.0% LPLA LPL Financial Holdings Inc. 625,000 $204.5M Reduce -4.6% ICE Intercontinental Exchange Inc. 1,100,000 $189.8M Reduce -47.2% COF Capital One Financial Corp. 1,050,000 $188.3M Add +13.5% J Jacobs Solutions Inc. 1,400,000 $169.2M Reduce -15.2% CRS Carpenter Technology 870,000 $157.6M No change EQT Eqt Corp. 2,950,000 $157.6M No change NVDA Nvidia Corp. 1,450,000 $157.2M New CSGP Costar Group Inc. 1,975,000 $156.5M New X United States Steel Corp. 3,625,000 $153.2M New FTV Fortive Corp. 1,900,000 $139.0M No change CASY Casey's General Stores Inc. 300,000 $130.2M New DFS Discover Financial Services 740,000 $126.3M Add +15.6% MSFT Microsoft Corp. 315,000 $118.2M Reduce -47.5% TLN Talen Energy Corp. 585,000 $116.8M New T AT&T Inc. 3,775,000 $105.6M New HES Hess Corp. 625,000 $99.8M No change VST Vistra Corp. 850,000 $99.8M Reduce -15.0% PRMB Primo Brands Corp. 2,775,000 $98.5M Add +15.6% RBA RB Global Inc. 950,000 $95.3M New SN Sharkninja Inc. 550,000 $45.9M New SHCO Soho House & Co. Inc. 5,200,000 $32.1M Add +121.1% PINS Pinterest Inc. Class A 1,000,000 $31.0M New SDRL Seadrill Limited 1,025,000 $25.6M No change AUR Aurora Innovation Inc. 1,032,463 $6.9M No change FLYX Flyexclusive Inc. 1,022,000 $3.2M No change
Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($184.5M).
Other holdings (8): bonds, preferreds, convertibles and warrants · $94.4M (not counted above) Security Class Shares / Principal Value Change APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV 900,000 $65.8M No change PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal 10,000,000 $10.6M New HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 3,970,000 $9.0M No change PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A 140,000 $6.3M No change AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 1,835,000 $2.6M No change NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 500,000 $153K No change FLYX.WS Eg Acquisition Corp.-A -CW28 *W EXP 99/99/999 367,499 $37K No change GBGWF Global Blue Group Holding AG *W EXP 08/28/202 1,333,333 $30K No change
Total filed on the 13F, all lines: $6.4B.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ DHR Danaher Corp. Sold out 0.00% −5.94 META Meta Platforms Inc. Class A Sold out 0.00% −5.30 AMZN Amazon.com Inc. Reduce -31.9% 7.13% −3.18 FERG Ferguson Enterprises Inc. Sold out 0.00% −2.84 TSLA Tesla Inc. Sold out 0.00% −2.75 TMO Thermo Fisher Scientific Inc. Sold out 0.00% −2.48 WDAY Workday Inc. Class A Sold out 0.00% −1.76 CNK Cinemark Holdings Inc. Sold out 0.00% −1.58 MSFT Microsoft Corp. Reduce -47.5% 1.89% −1.56 ICE Intercontinental Exchange Inc. Reduce -47.2% 3.03% −1.20 GB Global Blue Group Holding AG Sold out 0.00% −0.79 BN Brookfield Corp. Reduce -15.0% 3.54% −0.36 J Jacobs Solutions Inc. Reduce -15.2% 2.70% −0.30 VST Vistra Corp. Reduce -15.0% 1.59% −0.29 PG&E CORP (PCG 4.25 12/01/27) Sold out 0.00% −0.15 CCO Clear Channel Outdoor Holdin Sold out 0.00% −0.02 LPLA LPL Financial Holdings Inc. Reduce -4.6% 3.26% +0.35
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ KVUE Kenvue Inc. New 3.40% +3.40 NVDA Nvidia Corp. New 2.51% +2.51 CSGP Costar Group Inc. New 2.49% +2.49 X United States Steel Corp. New 2.44% +2.44 APO Apollo Global Management Inc. Add +275.0% 3.27% +2.38 CASY Casey's General Stores Inc. New 2.08% +2.08 TLN Talen Energy Corp. New 1.86% +1.86 T AT&T Inc. New 1.68% +1.68 RBA RB Global Inc. New 1.52% +1.52 TDS Telephone and Data Systems Add +12.7% 4.18% +1.39 LYV Live Nation Entertainment Inc. Add +22.1% 4.37% +1.34 COF Capital One Financial Corp. Add +13.5% 3.00% +0.76 SN Sharkninja Inc. New 0.73% +0.73 PCG P G & E Corp. Add +5.4% 14.00% +0.67 PRMB Primo Brands Corp. Add +15.6% 1.57% +0.56 DFS Discover Financial Services Add +15.6% 2.01% +0.50 PINS Pinterest Inc. Class A New 0.49% +0.49 FLUT Flutter Entertainment PLC-Di Add +11.5% 3.43% +0.36 SHCO Soho House & Co. Inc. Add +121.1% 0.51% +0.27
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ STATE STR SPDR S&P 500 ETF T put New 330,000 $184.5M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 35 $4.6B WBD, AMZN, GOOGL, CRH, TDS Q1 2026 30 $2.1B AMZN, TDS, CRH, SGI, CRS Q4 2025 39 $7.2B PCG, NVDA, AMZN, MSFT, UNP Q3 2025 38 $8.3B PCG, AMZN, MSFT, NVDA, NSC Q2 2025 45 $7.5B PCG, AMZN, NVDA, COF, TSM Q1 2025 36 $6.3B PCG, AMZN, TSM, LYV, TDS Q4 2024 36 $7.3B PCG, AMZN, DHR, META, TSM Q3 2024 35 $7.4B PCG, AMZN, DHR, VST, BBWI Q2 2024 37 $8.7B AMZN, PCG, MSFT, META, DHR Q1 2024 32 $7.8B PCG, AMZN, MSFT, BBWI, META