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Third Point Portfolio holdings

AUM $2.08B
1-Year Est. Return 27.04%
This Fund
S&P 500
This Quarter Est. Return
+9.59%
1 Year Est. Return
+27.04%
3 Year Est. Return
+125.35%
5 Year Est. Return
+260.24%
10 Year Est. Return
+1,464.79%
AUM
$8.99B
AUM Growth
+$1.37B
Cap. Flow
+$802M
Cap. Flow %
8.92%
Top 10 Hldgs %
52.95%
Holding
62
New
11
Increased
10
Reduced
14
Closed
16

Top Buys

Rank Stock Value
1
NSC icon
Norfolk Southern
NSC
+$458M
2
MSFT icon
Microsoft
MSFT
+$357M
3
SGI
Somnigroup International
SGI
+$236M
4
UNP icon
Union Pacific
UNP
+$197M
5
MTZ icon
MasTec
MTZ
+$133M

Top Sells

Rank Stock Value
1
CPAY icon
Corpay
CPAY
+$227M
2
ICE icon
Intercontinental Exchange
ICE
+$174M
3
TLN
Talen Energy Corp
TLN
+$157M
4
LYV icon
Live Nation Entertainment
LYV
+$98.8M
5
COF icon
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
$17.2B
$149M 1.66%
350,000
-435,000
-55% -$157M
KVUE icon
27
Kenvue
KVUE
$37B
$146M 1.63%
9,000,000
+475,000
+6% +$9.7M
J icon
28
Jacobs Solutions
J
$15.9B
$137M 1.53%
915,000
-349,000
-28% -$50.2M
PRMB
29
Primo Brands
PRMB
$8.24B
$128M 1.42%
5,775,000
– –
FND icon
30
Floor & Decor
FND
$5.81B
$98M 1.09%
+1,330,000
New +$109M
APO icon
31
Apollo Global Management
APO
$70.7B
$86.6M 0.96%
650,000
-625,000
-49% -$88.5M
RKT icon
32
Rocket Companies
RKT
$36.9B
$77.5M 0.86%
4,000,000
-750,000
-16% -$13.1M
APO.PRA icon
33
Apollo Global Management Series A
APO.PRA
$1.79B
$63.3M 0.7%
900,000
– –
CORZ icon
34
Core Scientific
CORZ
$7.23B
$53.8M 0.6%
+3,000,000
New +$44M
SRTA
35
Strata Critical Medical Inc
SRTA
$436M
$25.3M 0.28%
+5,000,000
New +$22.1M
KVUE icon
36
CALL
Kenvue
KVUE
$37B
$24.3M 0.27%
+1,500,000
New +$30.6M
HTZWW
37
Hertz Global Holdings Warrants
HTZWW
$74.7M
$14.8M 0.16%
3,970,000
– –
DHR icon
38
Danaher
DHR
$135B
$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
$1.4B
$5.51M 0.06%
140,000
– –
FLYX icon
40
flyExclusive
FLYX
$60.1M
$5.05M 0.06%
1,022,000
– –
AUR icon
41
Aurora
AUR
$11.7B
$2.17M 0.02%
1,032,463
– –
AUROW
42
Aurora Innovation Warrant
AUROW
$877K 0.01%
1,835,000
– –
BHC icon
43
Bausch Health
BHC
$1.65B
$645K 0.01%
+100,000
New +$684K
CYH icon
44
Community Health Systems
CYH
$385M
$482K 0.01%
+150,000
New +$450K
FLYX.WS icon
45
flyExclusive Inc Warrants
FLYX.WS
$117K ﹤0.01%
367,499
– –
DOCU
46
DocuSign
DOCU
$9.63B
– –
-625,000
Closed -$48.7M
FLS icon
47
Flowserve
FLS
$9.25B
– –
-1,195,000
Closed -$62.6M
FTV icon
48
Fortive
FTV
$19B
– –
-1,160,000
Closed -$60.5M
GTLS
49
DELISTED
Chart Industries
GTLS
– –
-215,000
Closed -$35.4M
ICE icon
50
Intercontinental Exchange
ICE
$82.4B
– –
-950,000
Closed -$174M
1
2
3

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NSUP
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NSCM
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CL
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Third Point's Q3 2025 Portfolio in Review

As of Q3 2025, Third Point held 62 positions worth $8.99B, up 18% from $7.62B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Third Point 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.

  • Third Point's largest Q3 2025 buy was Norfolk Southern: 1,650,000 shares worth $496M.
  • Third Point added most to Microsoft in Q3 2025, an estimated $357M increase.
  • Third Point's biggest Q3 2025 reduction was Talen Energy Corp, cutting an estimated $157M.
  • Third Point fully exited Corpay in Q3 2025, selling an estimated $227M.
  • Third Point's ten largest holdings make up 53% of its $8.99B portfolio in Q3 2025.
  • Third Point opened 11 new positions and closed 16 in Q3 2025.
  • Third Point'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.