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TP

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
PCG icon
1
PG&E
PCG
$47.8B
$756M 8.4%
50,100,000
-1,000,000
-2% -$14.6M
AMZN icon
2
Amazon
AMZN
$2.5T
$617M 6.86%
2,810,000
+100,000
+4% +$22.6M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$583M 6.48%
+875,000
New +$561M
MSFT icon
4
Microsoft
MSFT
$2.84T
$570M 6.34%
1,100,000
+700,000
+175% +$357M
NVDA icon
5
NVIDIA
NVDA
$5.01T
$532M 5.92%
2,850,000
+50,000
+2% +$8.72M
NSC icon
6
Norfolk Southern
NSC
$78.8B
$496M 5.51%
+1,650,000
New +$458M
BN icon
7
Brookfield
BN
$102B
$321M 3.57%
7,012,500
– –
TSM icon
8
TSMC
TSM
$2.09T
$307M 3.42%
1,100,000
-330,000
-23% -$80.7M
COF icon
9
Capital One
COF
$124B
$294M 3.28%
1,385,000
-419,204
-23% -$91.8M
FLUT icon
10
Flutter Entertainment
FLUT
$17.6B
$284M 3.16%
1,120,000
+50,000
+5% +$14.6M
CASY icon
11
Casey's General Stores
CASY
$31.9B
$283M 3.14%
500,000
+140,000
+39% +$73.2M
TDS icon
12
Telephone and Data Systems
TDS
$3.91B
$263M 2.93%
6,707,274
-17,726
-0.3% -$682K
CRH icon
13
CRH
CRH
$66.7B
$260M 2.89%
2,165,000
-425,000
-16% -$44.9M
CSGP icon
14
CoStar Group
CSGP
$11.3B
$255M 2.83%
3,017,000
-68,000
-2% -$6.01M
SGI
15
Somnigroup International
SGI
$15.1B
$253M 2.81%
+3,000,000
New +$236M
LYV icon
16
Live Nation Entertainment
LYV
$41.2B
$221M 2.45%
1,350,000
-625,000
-32% -$98.8M
CRS icon
17
Carpenter Technology
CRS
$30B
$209M 2.32%
850,000
+100,000
+13% +$25.6M
UNP icon
18
Union Pacific
UNP
$182B
$207M 2.3%
+875,000
New +$197M
LPLA icon
19
LPL Financial
LPLA
$26.3B
$198M 2.2%
594,143
-30,857
-5% -$11.2M
COOP
20
DELISTED
Mr. Cooper
COOP
$195M 2.17%
925,000
– –
SN icon
21
SharkNinja
SN
$21B
$186M 2.07%
1,800,000
+600,000
+50% +$68.5M
VST icon
22
Vistra
VST
$55.1B
$183M 2.04%
935,000
-315,000
-25% -$62.4M
FIX icon
23
Comfort Systems
FIX
$61B
$165M 1.84%
200,000
+15,000
+8% +$10.2M
META icon
24
Meta Platforms (Facebook)
META
$1.51T
$162M 1.8%
220,000
+70,000
+47% +$52.1M
MTZ icon
25
MasTec
MTZ
$26.7B
$154M 1.72%
+725,000
New +$133M
1
2 3

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TA
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AG
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NSUP
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ACG
Aventail Capital Group New York $2.09B AUM 43.81% 1-Year Est. Return
DDPIC
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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.