Daniel Loeb’s portfolio: Third Point 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001040273Latest: Q2 2026
Q4 2025 filing in brief
In its Q4 2025 13F, filed February 17, 2026, Third Point reported $7.3B across 44 US positions. The largest: PCG (7.6%), NVDA (7.6%), AMZN (6.9%), MSFT (6.2%), UNP (5.8%). In the quarter it opened 11 positions, sold out of 13, added to 12 and trimmed 12; positions opened and sold out came to 33.6% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed Feb 17, 2026
- 11 New
- 12 Added
- 12 Trimmed
- 13 Exited
44 positions at December 31, 2025. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | PCG | PG&E CORP | $551M | 34.3M | 7.58% | −31.5% | Trimmed |
| 2 | NVDA | NVIDIA CORPORATION | $550M | 3.0M | 7.56% | +3.5% | Added |
| 3 | AMZN | AMAZON COM INC | $500M | 2.2M | 6.87% | −23.0% | Trimmed |
| 4 | MSFT | MICROSOFT CORP | $447M | 925.0K | 6.15% | −15.9% | Trimmed |
| 5 | UNP | UNION PAC CORP | $419M | 1.8M | 5.76% | +106.9% | Added |
| 6 | — | CRH PLC | $324M | 2.6M | 4.46% | +20.1% | Added |
| 7 | SGI | SOMNIGROUP INTERNATIONAL INC | $304M | 3.4M | 4.17% | +13.3% | Added |
| 8 | BN | BROOKFIELD CORP | $285M | 6.2M | 3.91% | +32.6% | Added |
| 9 | NSC | NORFOLK SOUTHN CORP | $282M | 975.0K | 3.87% | −40.9% | Trimmed |
| 10 | TDS | TELEPHONE & DATA SYS INC | $274M | 6.7M | 3.76% | −0.5% | Held |
| 11 | COF | CAPITAL ONE FINL CORP | $267M | 1.1M | 3.66% | −20.6% | Trimmed |
| 12 | CASY | CASEYS GEN STORES INC | $251M | 455.0K | 3.46% | −9.0% | Trimmed |
| 13 | CRS | CARPENTER TECHNOLOGY CORP | $247M | 785.0K | 3.40% | −7.6% | Trimmed |
| 14 | LYV | LIVE NATION ENTERTAINMENT IN | $246M | 1.7M | 3.38% | +27.8% | Added |
| 15 | CSGP | COSTAR GROUP INC | $213M | 3.2M | 2.93% | +4.9% | Added |
| 16 | MTZ | MASTEC INC | $201M | 925.0K | 2.76% | +27.6% | Added |
| 17 | RKT | ROCKET COS INC | $184M | 9.5M | 2.53% | +137.9% | Added |
| 18 | LPLA | LPL FINL HLDGS INC | $182M | 510.0K | 2.50% | −14.2% | Trimmed |
| 19 | CMG | CHIPOTLE MEXICAN GRILL INC | $175M | 4.7M | 2.40% | — | New |
| 20 | CEG | CONSTELLATION ENERGY CORP | $168M | 475.0K | 2.31% | — | New |
| 21 | VST | VISTRA CORP | $162M | 1.0M | 2.23% | +7.5% | Added |
| 22 | DHR | DANAHER CORPORATION | $137M | 600.0K | 1.89% | +1100.0% | Added |
| 23 | — | SHARKNINJA INC | $134M | 1.2M | 1.85% | −33.3% | Trimmed |
| 24 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $129M | 425.0K | 1.78% | −61.4% | Trimmed |
| 25 | BABA | ALIBABA GROUP HLDG LTD | $121M | 825.0K | 1.66% | — | New |
| 26 | APG | API GROUP CORP | $115M | 3.0M | 1.58% | — | New |
| 27 | FIX | COMFORT SYS USA INC | $98M | 105.0K | 1.35% | −47.5% | Trimmed |
| 28 | SPOT | SPOTIFY TECHNOLOGY S A | $58M | 100.0K | 0.80% | — | New |
| 29 | KVUE | KENVUE INC | $56M | 3.3M | 0.77% | −63.9% | Trimmed |
| 30 | PGR | PROGRESSIVE CORP | $50M | 220.0K | 0.69% | — | New |
| 31 | TMO | THERMO FISHER SCIENTIFIC INC | $29M | 50.0K | 0.40% | — | New |
| 32 | SRTA | STRATA CRITICAL MEDICAL INC | $24M | 5.0M | 0.33% | 0.0% | Held |
| 33 | WIX | WIX COM LTD | $23M | 225.0K | 0.32% | — | New |
| 34 | CSX | CSX CORP | $18M | 500.0K | 0.25% | — | New |
| 35 | HTZWW | HERTZ GLOBAL HLDGS INC | $11M | 4.0M | 0.15% | 0.0% | Held |
| 36 | PCG 4.25 12/01/27 | PG&E CORP | $10M | 10.0M | 0.14% | 0.0% | Held |
| 37 | SPRY | ARS PHARMACEUTICALS INC | $6M | 556.2K | 0.09% | — | New |
| 38 | CTEV | CLARITEV CORPORATION | $6M | 145.0K | 0.09% | — | New |
| 39 | PCG 6 12/01/27 A | PG&E CORP | $6M | 140.0K | 0.08% | 0.0% | Held |
| 40 | FLYX | FLYEXCLUSIVE INC | $4M | 1.0M | 0.06% | 0.0% | Held |
| 41 | AUR | AURORA INNOVATION INC | $4M | 1.0M | 0.05% | 0.0% | Held |
| 42 | BHC | BAUSCH HEALTH COS INC | $2M | 350.0K | 0.03% | +250.0% | Added |
| 43 | AUROW | AURORA INNOVATION INC | $413K | 1.8M | 0.01% | 0.0% | Held |
| 44 | FLYX/WS | FLYEXCLUSIVE INC | $105K | 367.5K | 0.00% | 0.0% | Held |
13 exited positions
Positions held in the preceding quarter and absent from this filing. Values and shares are from the preceding quarter.
| Ticker | Issuer | Previous value | Previous shares |
|---|---|---|---|
| SPY | SPDR S&P 500 ETF TRput option | $583M | 875.0K |
| FLUT | FLUTTER ENTMT PLC | $284M | 1.1M |
| 07WA | MR COOPER GROUP INC | $195M | 925.0K |
| META | META PLATFORMS INC | $162M | 220.0K |
| TLN | TALEN ENERGY CORP | $149M | 350.0K |
| J | JACOBS SOLUTIONS INC | $137M | 915.0K |
| PRMB | PRIMO BRANDS CORPORATION | $128M | 5.8M |
| FND | FLOOR & DECOR HLDGS INC | $98M | 1.3M |
| APO | APOLLO GLOBAL MGMT INC | $87M | 650.0K |
| APO 6.75 07/31/26 | APOLLO GLOBAL MGMT INC | $63M | 900.0K |
| CORZ | CORE SCIENTIFIC INC NEW | $54M | 3.0M |
| KVUE | KENVUE INCcall option | $24M | 1.5M |
| CYH | COMMUNITY HEALTH SYS INC NEW | $482K | 150.0K |
Every quarter on file (53)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.