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 |
Union Pacific
UNP
|
+$213M |
| 2 |
Constellation Energy
CEG
|
+$173M |
| 3 |
Chipotle Mexican Grill
CMG
|
+$171M |
| 4 |
Alibaba
BABA
|
+$134M |
| 5 |
Danaher
DHR
|
+$121M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Flutter Entertainment
FLUT
|
+$284M |
| 2 |
PG&E
PCG
|
+$252M |
| 3 |
TSMC
TSM
|
+$198M |
| 4 |
Norfolk Southern
NSC
|
+$195M |
| 5 |
COOP
Mr. Cooper
COOP
|
+$195M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 20.47% |
| 2 | Industrials | 19.02% |
| 3 | Technology | 15.81% |
| 4 | Financials | 13.3% |
| 5 | Utilities | 12.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
APi Group
APG
$17.8B
| $115M | 1.58% |
+3,000,000
| New | +$111M |
|
27
Comfort Systems
FIX
$58.3B
| $98M | 1.35% |
105,000
-95,000
| -48% | -$87.7M |
|
28
Spotify
SPOT
$110B
| $58.1M | 0.8% |
+100,000
| New | +$62.5M |
|
29
Kenvue
KVUE
$36.6B
| $56.1M | 0.77% |
3,250,000
-5,750,000
| -64% | -$94M |
|
30
Progressive
PGR
$127B
| $50.1M | 0.69% |
+220,000
| New | +$49.7M |
|
31
Thermo Fisher Scientific
TMO
$233B
| $29M | 0.4% |
+50,000
| New | +$28.3M |
|
|
SRTA
32
Strata Critical Medical Inc
SRTA
$552M
| $24.1M | 0.33% |
5,000,000
| – | – |
|
33
WIX.com
WIX
$3.43B
| $23.4M | 0.32% |
+225,000
| New | +$27.2M |
|
34
CSX Corp
CSX
$95.6B
| $18.1M | 0.25% |
+500,000
| New | +$17.9M |
|
|
HTZWW
35
Hertz Global Holdings Warrants
HTZWW
$93.8M
| $10.6M | 0.15% |
3,970,000
| – | – |
|
36
ARS Pharmaceuticals
SPRY
$547M
| $6.48M | 0.09% |
+556,237
| New | +$5.41M |
|
|
CTEV
37
Claritev Corp
CTEV
$632M
| $6.2M | 0.09% |
+145,000
| New | +$7.38M |
|
|
PCG.PRX
38
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
$1.37B
| $5.74M | 0.08% |
140,000
| – | – |
|
39
flyExclusive
FLYX
$134M
| $4.2M | 0.06% |
1,022,000
| – | – |
|
40
Aurora
AUR
$12.5B
| $3.96M | 0.05% |
1,032,463
| – | – |
|
41
Bausch Health
BHC
$2.41B
| $2.43M | 0.03% |
350,000
+250,000
| +250% | +$1.64M |
|
|
AUROW
42
Aurora Innovation Warrant
AUROW
$246M
| $413K | 0.01% |
1,835,000
| – | – |
|
|
43
flyExclusive Inc Warrants
FLYX.WS
| $105K | ﹤0.01% |
367,499
| – | – |
|
44
Apollo Global Management
APO
$78.4B
| – | – |
-650,000
| Closed | -$86.6M |
|
|
APO.PRA
45
DELISTED
Apollo Global Management Series A
APO.PRA
| – | – |
-900,000
| Closed | -$63.3M |
|
|
COOP
46
DELISTED
Mr. Cooper
COOP
| – | – |
-925,000
| Closed | -$195M |
|
47
Core Scientific
CORZ
$5.72B
| – | – |
-3,000,000
| Closed | -$53.8M |
|
48
Community Health Systems
CYH
$424M
| – | – |
-150,000
| Closed | -$482K |
|
49
Floor & Decor
FND
$5.78B
| – | – |
-1,330,000
| Closed | -$98M |
|
50
Jacobs Solutions
J
$17.6B
| – | – |
-915,000
| Closed | -$137M |
|
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Daniel Loeb's Q4 2025 Portfolio in Review
As of Q4 2025, Daniel Loeb held 57 positions worth $7.27B, down 19% from $8.99B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Daniel Loeb withdrew a net $1.83B in Q4 2025, closing 13 positions and reducing 14 holdings. Its most notable exit was Flutter Entertainment, an estimated $284M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 20% of assets, up from 19% a quarter earlier, followed by Industrials and Technology.
Against the trend, Daniel Loeb opened a new position in Constellation Energy worth $168M.
- Daniel Loeb's largest Q4 2025 buy was Constellation Energy: 475,000 shares worth $168M.
- Daniel Loeb added most to Union Pacific in Q4 2025, an estimated $213M increase.
- Daniel Loeb's biggest Q4 2025 reduction was PG&E, cutting an estimated $252M.
- Daniel Loeb fully exited Flutter Entertainment in Q4 2025, selling an estimated $284M.
- Daniel Loeb's ten largest holdings make up 54% of its $7.27B portfolio in Q4 2025.
- Daniel Loeb opened 11 new positions and closed 13 in Q4 2025.
- Daniel Loeb's portfolio value fell 19% quarter-over-quarter to $7.27B.
Based on Third Point's 13F filing for Q4 2025, filed 17 Feb 2026.