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Daniel Loeb Third Point
AUM
$4.68B
Turnover
50%
1-Year Est. Return
37.3%
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.
This Fund
S&P 500
This Quarter Est. Return
+9.59%
1 Year Est. Return
+37.3%
3 Year Est. Return
+159.49%
5 Year Est. Return
+329.12%
10 Year Est. Return
+1,791.94%
AUM
$8.99B
AUM Growth
+$1.37B
(+18%)
Cap. Flow
+$210M
Cap. Flow % of AUM
Cap. Flow %
2.34%
Top 10 Holdings %
Top 10 Hldgs %
52.95%
Holding
62
New
11
Increased
10
Reduced
14
Closed
16
Avg Time Held
Equity + Options
1.2
years
Top 10 Avg Time Held
Equity + Options
1.1
years
Top 20 Avg Time Held
Equity + Options
0.9
years
Avg Time Held Equity only
1.2
years
Top 10 Avg Time Held Equity only
1.1
years
Top 20 Avg Time Held Equity only
0.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Norfolk Southern
NSC
|
+$458M |
| 2 |
Microsoft
MSFT
|
+$357M |
| 3 |
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 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
PG&E
PCG
$39.5B
| $756M | 8.4% |
50,100,000
-1,000,000
| -2% | -$14.6M |
2020 Q3
20 quarters
|
|
2
Amazon
AMZN
$2.83T
| $617M | 6.86% |
2,810,000
+100,000
| +4% | +$22.6M |
2023 Q2
9 quarters
|
|
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$824B
| $583M | 6.48% |
+875,000
| New | +$561M |
2025 Q3
0 quarters
|
|
|
4
Microsoft
MSFT
$3.96T
| $570M | 6.34% |
1,100,000
+700,000
| +175% | +$357M |
2022 Q4
11 quarters
|
|
5
NVIDIA
NVDA
$5.36T
| $532M | 5.92% |
2,850,000
+50,000
| +2% | +$8.72M |
2025 Q1
2 quarters
|
|
|
6
Norfolk Southern
NSC
$73.7B
| $496M | 5.51% |
+1,650,000
| New | +$458M |
2025 Q3
0 quarters
|
|
7
Brookfield
BN
$83.7B
| $321M | 3.57% |
7,012,500
| – | – |
2024 Q3
4 quarters
|
|
8
TSMC
TSM
$2.24T
| $307M | 3.42% |
1,100,000
-330,000
| -23% | -$80.7M |
2023 Q2
9 quarters
|
|
|
9
Capital One
COF
$127B
| $294M | 3.28% |
1,385,000
-419,204
| -23% | -$91.8M |
2024 Q4
3 quarters
|
|
10
Flutter Entertainment
FLUT
$13.6B
| $284M | 3.16% |
1,120,000
+50,000
| +5% | +$14.6M |
2024 Q3
4 quarters
|
|
11
Casey's General Stores
CASY
$25.7B
| $283M | 3.14% |
500,000
+140,000
| +39% | +$73.2M |
2025 Q1
2 quarters
|
|
12
Telephone and Data Systems
TDS
$3.82B
| $263M | 2.93% |
6,707,274
-17,726
| -0.3% | -$682K |
2023 Q3
8 quarters
|
|
13
CRH
CRH
$57.2B
| $260M | 2.89% |
2,165,000
-425,000
| -16% | -$44.9M |
2024 Q2
5 quarters
|
|
14
CoStar Group
CSGP
$13.3B
| $255M | 2.83% |
3,017,000
-68,000
| -2% | -$6.01M |
2025 Q1
2 quarters
|
|
|
15
Somnigroup International
SGI
$14.5B
| $253M | 2.81% |
+3,000,000
| New | +$236M |
2025 Q3
0 quarters
|
|
|
16
Live Nation Entertainment
LYV
$40.6B
| $221M | 2.45% |
1,350,000
-625,000
| -32% | -$98.8M |
2024 Q2
5 quarters
|
|
17
Carpenter Technology
CRS
$18.2B
| $209M | 2.32% |
850,000
+100,000
| +13% | +$25.6M |
2024 Q3
4 quarters
|
|
|
18
Union Pacific
UNP
$171B
| $207M | 2.3% |
+875,000
| New | +$197M |
2025 Q3
0 quarters
|
|
19
LPL Financial
LPLA
$25.3B
| $198M | 2.2% |
594,143
-30,857
| -5% | -$11.2M |
2024 Q3
4 quarters
|
|
20
DELISTED
Mr. Cooper
COOP
| $195M | 2.17% |
925,000
| – | – |
2025 Q2
1 quarter
|
|
21
SharkNinja
SN
$27.8B
| $186M | 2.07% |
1,800,000
+600,000
| +50% | +$68.5M |
2025 Q1
2 quarters
|
|
22
Vistra
VST
$52.4B
| $183M | 2.04% |
935,000
-315,000
| -25% | -$62.4M |
2023 Q1
10 quarters
|
|
23
Comfort Systems
FIX
$49.3B
| $165M | 1.84% |
200,000
+15,000
| +8% | +$10.2M |
2025 Q2
1 quarter
|
|
24
Meta Platforms (Facebook)
META
$1.78T
| $162M | 1.8% |
220,000
+70,000
| +47% | +$52.1M |
2025 Q2
1 quarter
|
|
|
25
MasTec
MTZ
$14.5B
| $154M | 1.72% |
+725,000
| New | +$133M |
2025 Q3
0 quarters
|
|
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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's Q3 2025 filing shows 11 new, 10 increased, 14 reduced and 16 closed positions. Its largest new stake was Norfolk Southern: 1,650,000 shares worth $496M. The largest sale was Corpay, an estimated $227M.
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.
- 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.