Third Point

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Dan Loeb's Third Point reported 45 stock positions worth $7.5 billion. Its top holding was P G & E (PCG) at 9.5% of the portfolio, followed by Amazon.com (AMZN, 7.9%) and Nvidia (NVDA, 5.9%). Compared with Q1 2025, it opened 15 new positions, sold out of 7, added to 13 and reduced 13. The biggest buy was Nvidia (NVDA, shares +93%) and the biggest sale an exit from Eqt (EQT).

Most Recent 13F
Q2 2026
Notable People
Dan Loeb
Location
NEW YORK, NY
CIK
0001040273
Portfolio Value
$7.5B (Q2 2025)
SEC Filing
0001085146-25-005277 ↗ filed Aug 14, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $7.8B Q1 2024 Q2 2024: $8.7B Q2 2024 Q3 2024: $7.4B Q3 2024 Q4 2024: $7.3B Q4 2024 Q1 2025: $6.3B Q1 2025 Q2 2025: $7.5B $7.5B Q2 2025 Q3 2025: $8.3B Q3 2025 Q4 2025: $7.2B Q4 2025 Q1 2026: $2.1B Q1 2026 Q2 2026: $4.6B Q2 2026

Holdings 45 stocks · $7.5B
PCG P G & E Corp. 9.47% 51,100,000 $712.3M No change
AMZN Amazon.com Inc. 7.90% 2,710,000 $594.5M Add +15.3%
NVDA Nvidia Corp. 5.88% 2,800,000 $442.4M Add +93.1%
COF Capital One Financial Corp. 5.10% 1,804,204 $383.9M Add +71.8%
TSM Taiwan Semiconductor-SP ADR 4.31% 1,430,000 $323.9M Reduce -19.7%
FLUT Flutter Entertainment PLC-Di 4.07% 1,070,000 $305.8M Add +10.3%
LYV Live Nation Entertainment Inc. 3.97% 1,975,000 $298.8M Reduce -6.0%
BN Brookfield Corp. 3.84% 4,675,000 $289.1M Add +10.3%
CSGP Costar Group Inc. 3.30% 3,085,000 $248.0M Add +56.2%
VST Vistra Corp. 3.22% 1,250,000 $242.3M Add +47.1%
TDS Telephone and Data Systems 3.18% 6,725,000 $239.3M Reduce -0.5%
CRH CRH PLC 3.16% 2,590,000 $237.8M Reduce -4.6%
LPLA LPL Financial Holdings Inc. 3.12% 625,000 $234.4M No change
TLN Talen Energy Corp. 3.03% 785,000 $228.3M Add +34.2%
CPAY Corpay Inc. 3.02% 685,000 $227.3M Add +12.3%
CRS Carpenter Technology 2.76% 750,000 $207.3M Reduce -13.8%
MSFT Microsoft Corp. 2.65% 400,000 $199.0M Add +27.0%
CASY Casey's General Stores Inc. 2.44% 360,000 $183.7M Add +20.0%
APO Apollo Global Management Inc. 2.40% 1,275,000 $180.9M Reduce -15.0%
KVUE Kenvue Inc. 2.37% 8,525,000 $178.4M Reduce -4.2%
ICE Intercontinental Exchange Inc. 2.32% 950,000 $174.3M Reduce -13.6%
PRMB Primo Brands Corp. 2.27% 5,775,000 $171.1M Add +108.1%
J Jacobs Solutions Inc. 2.21% 1,264,000 $166.2M Reduce -9.7%
COOP Mr Cooper Group Inc. 1.83% 925,000 $138.0M New
SN Sharkninja Inc. 1.58% 1,200,000 $118.8M Add +118.2%
META Meta Platforms Inc. Class A 1.47% 150,000 $110.7M New
FIX Comfort Systems USA Inc. 1.32% 185,000 $99.2M New
DHR Danaher Corp. 1.31% 500,000 $98.8M New
RBA RB Global Inc. 0.98% 695,000 $73.8M Reduce -26.8%
WDAY Workday Inc. Class A 0.96% 300,000 $72.0M New
RKT Rocket Cos Inc. Class A 0.90% 4,750,000 $67.4M New
FLS Flowserve Corp. 0.83% 1,195,000 $62.6M New
FTV Fortive Corp. 0.80% 1,160,000 $60.5M Reduce -39.0%
DOCU Docusign Inc. 0.65% 625,000 $48.7M New
SHCO Soho House & Co. Inc. 0.51% 5,171,676 $38.0M Reduce -0.5%
GTLS Chart Industries Inc. 0.47% 215,000 $35.4M New
SE Sea Ltd.-ADR 0.11% 50,000 $8.0M New
RAL Ralliant Corp. 0.08% 125,003 $6.1M Reduce -80.2%
AUR Aurora Innovation Inc. 0.07% 1,032,463 $5.4M No change
SABR Sabre Corp. 0.03% 750,000 $2.4M New
FLYX Flyexclusive Inc. 0.03% 1,022,000 $2.0M No change
TTAN Servicetitan Inc. Class A 0.02% 15,000 $1.6M New
CTEV Claritev Corp. 0.02% 30,000 $1.4M New
ASIC Ategrity Specialty Holdings 0.01% 50,000 $1.1M New
ARDT Ardent Health Inc. 0.01% 75,000 $1.0M New
Other holdings (6): bonds, preferreds, convertibles and warrants · $98.7M (not counted above)
SecurityClassShares / PrincipalValueChange
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV 900,000$67.4MNo change
HTZWW Hertz Global Hldgs Inc. -CW51 *W EXP 06/30/205 3,970,000$14.5MNo change
PG&E CORP (PCG 4.25 12/01/27) NOTE 4.250%12/0 · principal 10,000,000$9.9MNo change
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A 140,000$5.3MNo change
AUROW Aurora Innovation Inc. -CW28 *W EXP 11/03/202 1,835,000$1.6MNo change
FLYX.WS Eg Acquisition Corp.-A -CW28 *W EXP 99/99/999 367,499$37KNo change

Total filed on the 13F, all lines: $7.6B.

Portfolio Sells Q1 2025 → Q2 2025
EQT Eqt Corp. Sold out 0.00% −2.51
X United States Steel Corp. Sold out 0.00% −2.44
DFS Discover Financial Services Sold out 0.00% −2.01
T AT&T Inc. Sold out 0.00% −1.68
HES Hess Corp. Sold out 0.00% −1.59
FTV Fortive Corp. Reduce -39.0% 0.80% −1.41
KVUE Kenvue Inc. Reduce -4.2% 2.37% −1.03
TDS Telephone and Data Systems Reduce -0.5% 3.18% −0.99
APO Apollo Global Management Inc. Reduce -15.0% 2.40% −0.87
ICE Intercontinental Exchange Inc. Reduce -13.6% 2.32% −0.71
CRH CRH PLC Reduce -4.6% 3.16% −0.65
RBA RB Global Inc. Reduce -26.8% 0.98% −0.54
PINS Pinterest Inc. Class A Sold out 0.00% −0.49
J Jacobs Solutions Inc. Reduce -9.7% 2.21% −0.49
RAL Ralliant Corp. Reduce -80.2% 0.08% −0.41
SDRL Seadrill Limited Sold out 0.00% −0.41
TSM Taiwan Semiconductor-SP ADR Reduce -19.7% 4.31% −0.40
LYV Live Nation Entertainment Inc. Reduce -6.0% 3.97% −0.40
SHCO Soho House & Co. Inc. Reduce -0.5% 0.51% −0.01
CRS Carpenter Technology Reduce -13.8% 2.76% +0.24

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +93.1% 5.88% +3.38
COF Capital One Financial Corp. Add +71.8% 5.10% +2.10
COOP Mr Cooper Group Inc. New 1.83% +1.83
VST Vistra Corp. Add +47.1% 3.22% +1.63
META Meta Platforms Inc. Class A New 1.47% +1.47
FIX Comfort Systems USA Inc. New 1.32% +1.32
DHR Danaher Corp. New 1.31% +1.31
TLN Talen Energy Corp. Add +34.2% 3.03% +1.17
WDAY Workday Inc. Class A New 0.96% +0.96
RKT Rocket Cos Inc. Class A New 0.90% +0.90
SN Sharkninja Inc. Add +118.2% 1.58% +0.85
FLS Flowserve Corp. New 0.83% +0.83
CSGP Costar Group Inc. Add +56.2% 3.30% +0.80
AMZN Amazon.com Inc. Add +15.3% 7.90% +0.78
MSFT Microsoft Corp. Add +27.0% 2.65% +0.76
PRMB Primo Brands Corp. Add +108.1% 2.27% +0.70
DOCU Docusign Inc. New 0.65% +0.65
FLUT Flutter Entertainment PLC-Di Add +10.3% 4.07% +0.64
GTLS Chart Industries Inc. New 0.47% +0.47
CASY Casey's General Stores Inc. Add +20.0% 2.44% +0.37
BN Brookfield Corp. Add +10.3% 3.84% +0.30
SE Sea Ltd.-ADR New 0.11% +0.11
SABR Sabre Corp. New 0.03% +0.03
TTAN Servicetitan Inc. Class A New 0.02% +0.02
CTEV Claritev Corp. New 0.02% +0.02
ASIC Ategrity Specialty Holdings New 0.01% +0.01
ARDT Ardent Health Inc. New 0.01% +0.01
CPAY Corpay Inc. Add +12.3% 3.02% −0.37

Options Activity Q1 2025 → Q2 2025
STATE STR SPDR S&P 500 ETF T put Sold out 330,000 $184.5Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025
NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 Sold out 500,000 $153Kbefore exit
GBGWF Global Blue Group Holding AG *W EXP 08/28/202 Sold out 1,333,333 $30Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 35$4.6BWBD, AMZN, GOOGL, CRH, TDS
Q1 2026 30$2.1BAMZN, TDS, CRH, SGI, CRS
Q4 2025 39$7.2BPCG, NVDA, AMZN, MSFT, UNP
Q3 2025 38$8.3BPCG, AMZN, MSFT, NVDA, NSC
Q2 2025 45$7.5BPCG, AMZN, NVDA, COF, TSM
Q1 2025 36$6.3BPCG, AMZN, TSM, LYV, TDS
Q4 2024 36$7.3BPCG, AMZN, DHR, META, TSM
Q3 2024 35$7.4BPCG, AMZN, DHR, VST, BBWI
Q2 2024 37$8.7BAMZN, PCG, MSFT, META, DHR
Q1 2024 32$7.8BPCG, AMZN, MSFT, BBWI, META