Daniel Loeb Third Point
Daniel Loeb is the founder of Third Point, an event-driven and activist-oriented hedge fund. He is known for pointed letters to management teams, catalyst-driven investing, and a flexible mandate across equities and credit. Loeb’s campaigns and portfolio shifts regularly generate attention beyond specialist hedge fund circles.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Norfolk Southern
NSC
|
+$458M |
| 2 |
Microsoft
MSFT
|
+$357M |
| 3 |
SGI
Somnigroup International
SGI
|
+$236M |
| 4 |
Union Pacific
UNP
|
+$197M |
| 5 |
MasTec
MTZ
|
+$133M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Corpay
CPAY
|
+$227M |
| 2 |
Intercontinental Exchange
ICE
|
+$174M |
| 3 |
TLN
Talen Energy Corp
TLN
|
+$157M |
| 4 |
Live Nation Entertainment
LYV
|
+$98.8M |
| 5 |
Capital One
COF
|
+$91.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 19.17% |
| 2 | Technology | 16.27% |
| 3 | Industrials | 15.27% |
| 4 | Financials | 13.04% |
| 5 | Utilities | 12.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TLN
26
Talen Energy Corp
TLN
$15.1B
| $149M | 1.66% |
350,000
-435,000
| -55% | -$157M |
|
27
Kenvue
KVUE
$36.6B
| $146M | 1.63% |
9,000,000
+475,000
| +6% | +$9.7M |
|
28
Jacobs Solutions
J
$17.6B
| $137M | 1.53% |
915,000
-349,000
| -28% | -$50.2M |
|
|
PRMB
29
Primo Brands
PRMB
$8.37B
| $128M | 1.42% |
5,775,000
| – | – |
|
30
Floor & Decor
FND
$5.78B
| $98M | 1.09% |
+1,330,000
| New | +$109M |
|
31
Apollo Global Management
APO
$78.4B
| $86.6M | 0.96% |
650,000
-625,000
| -49% | -$88.5M |
|
32
Rocket Companies
RKT
$39.4B
| $77.5M | 0.86% |
4,000,000
-750,000
| -16% | -$13.1M |
|
|
APO.PRA
33
DELISTED
Apollo Global Management Series A
APO.PRA
| $63.3M | 0.7% |
900,000
| – | – |
|
34
Core Scientific
CORZ
$5.72B
| $53.8M | 0.6% |
+3,000,000
| New | +$44M |
|
|
SRTA
35
Strata Critical Medical Inc
SRTA
$552M
| $25.3M | 0.28% |
+5,000,000
| New | +$22.1M |
|
|
36
CALL
Kenvue
KVUE
$36.6B
| $24.3M | 0.27% |
+1,500,000
| New | +$30.6M |
|
|
HTZWW
37
Hertz Global Holdings Warrants
HTZWW
$93.8M
| $14.8M | 0.16% |
3,970,000
| – | – |
|
38
Danaher
DHR
$154B
| $9.91M | 0.11% |
50,000
-450,000
| -90% | -$89.5M |
|
|
PCG.PRX
39
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
$1.37B
| $5.51M | 0.06% |
140,000
| – | – |
|
40
flyExclusive
FLYX
$134M
| $5.05M | 0.06% |
1,022,000
| – | – |
|
41
Aurora
AUR
$12.5B
| $2.17M | 0.02% |
1,032,463
| – | – |
|
|
AUROW
42
Aurora Innovation Warrant
AUROW
$246M
| $877K | 0.01% |
1,835,000
| – | – |
|
43
Bausch Health
BHC
$2.41B
| $645K | 0.01% |
+100,000
| New | +$684K |
|
44
Community Health Systems
CYH
$424M
| $482K | 0.01% |
+150,000
| New | +$450K |
|
|
45
flyExclusive Inc Warrants
FLYX.WS
| $117K | ﹤0.01% |
367,499
| – | – |
|
|
DOCU
46
DocuSign
DOCU
$11.8B
| – | – |
-625,000
| Closed | -$48.7M |
|
47
Flowserve
FLS
$10.1B
| – | – |
-1,195,000
| Closed | -$62.6M |
|
48
Fortive
FTV
$18.1B
| – | – |
-1,160,000
| Closed | -$60.5M |
|
|
GTLS
49
DELISTED
Chart Industries
GTLS
| – | – |
-215,000
| Closed | -$35.4M |
|
|
50
Intercontinental Exchange
ICE
$90.5B
| – | – |
-950,000
| Closed | -$174M |
|
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Daniel Loeb's Q3 2025 Portfolio in Review
As of Q3 2025, Daniel Loeb held 62 positions worth $8.99B, up 18% from $7.62B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Daniel Loeb deployed $802M of net new capital in Q3 2025, opening 11 new positions and adding to 10 existing holdings. Its largest new stake was Norfolk Southern: 1,650,000 shares worth $496M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 19% of assets, up from 16% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Talen Energy Corp, an estimated $157M trimmed.
- Daniel Loeb's largest Q3 2025 buy was Norfolk Southern: 1,650,000 shares worth $496M.
- Daniel Loeb added most to Microsoft in Q3 2025, an estimated $357M increase.
- Daniel Loeb's biggest Q3 2025 reduction was Talen Energy Corp, cutting an estimated $157M.
- Daniel Loeb fully exited Corpay in Q3 2025, selling an estimated $227M.
- Daniel Loeb's ten largest holdings make up 53% of its $8.99B portfolio in Q3 2025.
- Daniel Loeb opened 11 new positions and closed 16 in Q3 2025.
- Daniel Loeb's portfolio value rose 18% quarter-over-quarter to $8.99B.
Based on Third Point's 13F filing for Q3 2025, filed 14 Nov 2025.