Daniel Loeb portfolio
Latest holdings of Third Point as of Q2 2026: 43 positions worth $4.7B, decoded into plain English.
Portfolio summary and charts
- Warner Bros. Discovery (WBD) is the largest position at 11.4% of a $4.7B portfolio.
- Biggest buy: opened a new position in Warner Bros. Discovery, about $533M of new money.
- Biggest sale: trimmed Carpenter Technology, about $59M.
- Moderate conviction: the top 10 holdings make up 60%, and the portfolio behaves like 19 equal-sized bets.
Every box is a position, sized by its weight
What this meansWarner Bros. Discovery alone is 11% of the portfolio, and the top three make up 28%. Colors show what changed since last quarter, so you can spot fresh conviction at a glance.
Where the money is
What this meansCommunication is the biggest slice at 30% of the portfolio.
How focused is the portfolio?
What this meansThe steeper the gold curve rises above the dashed line, the more the portfolio depends on a few big bets. It behaves like 19 equal-sized positions.
Biggest buys and sells
What this meansThe largest move was opening Warner Bros. Discovery, worth about $533M. Values are estimated at quarter-end prices.
Two years of reported value
What this meansValue changes with both market prices and new money in or out. It moved from $8.7B to $4.7B over 9 quarters.
How today’s top positions grew over time
What this meansWide, steady bands are long-term core holdings; bands that appear suddenly are recent bets.
All 43 positions
| # | Stock | Sector | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|---|---|
| 1 | WBD Warner Bros. Discovery | Communication | 11.39% | New | 20,000,000 | $533M |
| 2 | AMZN Amazon | Consumer Discretionary | 8.91% | Trimmed −10% | 1,750,000 | $417M |
| 3 | GOOGL Alphabet (Class A) | Communication | 7.83% | Added +486% | 1,025,000 | $366M |
| 4 | CRH CRH | Other | 5.02% | Added +16% | 2,195,000 | $235M |
| 5 | TDS Telephone & Data Systems | Communication | 4.96% | Trimmed −5% | 6,275,000 | $232M |
| 6 | TSM Taiwan Semiconductor Manufacturing | Technology | 4.69% | Added +67% | 460,000 | $220M |
| 7 | LYV Live Nation Entertainment | Communication | 4.44% | Added +144% | 1,135,000 | $208M |
| 8 | KEYS Keysight Technologies | Technology | 4.38% | New | 585,000 | $205M |
| 9 | SGI Somnigroup International | Consumer Discretionary | 4.31% | Added +13% | 2,570,769 | $202M |
| 10 | XYZ Block | Technology | 4.16% | New | 2,558,943 | $194M |
| 11 | NSC Norfolk Southern | Industrials | 4.03% | Added +500% | 600,000 | $189M |
| 12 | FLEX Flex | Technology | 3.57% | New | 1,030,000 | $167M |
| 13 | COF Capital One Financial | Financials | 3.54% | Added +489% | 825,000 | $166M |
| 14 | HUT Hut 8 | Financials | 3.24% | Added +51% | 1,315,000 | $152M |
| 15 | CRS Carpenter Technology | Materials | 2.83% | Trimmed −31% | 215,000 | $133M |
| 16 | APG APi | Industrials | 2.59% | Added +41% | 2,865,000 | $121M |
| 17 | MTZ Mastec | Industrials | 2.58% | Trimmed −9% | 290,000 | $121M |
| 18 | TDG TransDigm | Industrials | 2.25% | Added +216% | 79,000 | $105M |
| 19 | DHR Danaher | Technology | 2.20% | Added +3% | 540,000 | $103M |
| 20 | UNP Union Pacific | Industrials | 2.03% | Added +250% | 350,000 | $95M |
| 21 | TTMI Ttm Technologies | Technology | 2.02% | New | 505,000 | $94M |
| 22 | PFGC Performance Food | Consumer Staples | 1.61% | New | 675,000 | $75M |
| 23 | GOOGL Alphabet | Communication | 1.41% | New | 1,300,000 | $66M |
| 24 | ASML ASML | Industrials | 1.27% | Added +150% | 30,000 | $60M |
| 25 | SYY Sysco | Consumer Staples | 1.03% | New | 580,000 | $48M |
| 26 | ARES Ares Management | Financials | 0.89% | New | 375,000 | $42M |
| 27 | SPCX Space Exploration Technologies | Technology | 0.66% | New | 180,415 | $31M |
| 28 | SPY SPDR S&P 500 ETF Trust (put options) | Other | 0.62% | New | 40,000 | $29M |
| 29 | SRTA Strata Critical Medical | Health Care | 0.56% | Hold | 5,000,000 | $26M |
| 30 | GOOGL Alphabet | Communication | 0.21% | New | 200,000 | $10M |
| 31 | SPRY ARS Pharmaceuticals | Health Care | 0.17% | Hold | 1,000,000 | $8M |
| 32 | AUR Aurora Innovation (Class A) | Technology | 0.15% | Hold | 1,032,463 | $7M |
| 33 | Riot Riot Platforms | Bonds & notes | 0.15% | New | 3,500,000 | $7M |
| 34 | HTZWW Hertz Global | Consumer Discretionary | 0.09% | Hold | 3,970,000 | $4M |
| 35 | FLYX Flyexclusive (Class A) | Industrials | 0.04% | Hold | 1,022,000 | $2M |
| 36 | BLCO Bausch & Lomb | Health Care | 0.03% | New | 85,000 | $1M |
| 37 | CORZ Core Scientific | Financials | 0.03% | New | 54,000 | $1M |
| 38 | EROC ERock | Technology | 0.03% | New | 83,030 | $1M |
| 39 | APLD Applied Digital | Technology | 0.02% | New | 22,000 | $821K |
| 40 | Lithium Lithium Argentina | Bonds & notes | 0.01% | New | 625,000 | $612K |
| 41 | AUROW Aurora Innovation | Technology | 0.01% | Hold | 1,835,000 | $587K |
| 42 | WOLF Wolfspeed | Technology | 0.01% | New | 10,000 | $483K |
| 43 | FLYX.WS Flyexclusive | Funds & other | 0.00% | Hold | 367,499 | $77K |
Values as reported at quarter end (30 Jun 2026). Activity compares share counts with the Q1 2026 filing. Source: SEC filing 0001040273-26-000003 · all filings on EDGAR.
Positions closed
Daniel Loeb
Daniel Loeb founded Third Point in 1995. The firm mixes event-driven and activist investing across stocks and credit, and is known for pointed letters to company boards.
Philosophy in brief
- Look for catalysts that can close the gap between price and value.
- Engage directly when management falls short.
- Move nimbly across asset classes.
How to read this page
Who else is trading these holdings
- 01WBD Warner Bros. Discovery1 congressional trade disclosed (1 buys)11.4% of portfolio
- 02AMZN Amazon16 congressional trades disclosed (7 buys)8.9% of portfolio
- 03GOOGL Alphabet (Class A)24 congressional trades disclosed (7 buys)7.8% of portfolio
- 06TSM Taiwan Semiconductor Manufacturing5 congressional trades disclosed (5 buys) · insiders bought $2M in Q3 20264.7% of portfolio
- 07LYV Live Nation Entertainment9 congressional trades disclosed (1 buys)4.4% of portfolio
- 09SGI Somnigroup International6 congressional trades disclosed (5 buys) · insiders bought $2M in Q3 20264.3% of portfolio
- 11NSC Norfolk Southern1 congressional trade disclosed (1 buys)4.0% of portfolio
- 12FLEX Flex10 congressional trades disclosed (0 buys)3.6% of portfolio
Investors who think alike
Cosine similarity of position weights (100 = identical portfolios). Chips show the biggest shared holdings.
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