Daniel Loeb

Third Point

Activist hedge fund

🌐 Website📍 New York, NYEst. 1995💰 ~$15B AUM

$7.27B

Portfolio Value

Holdings

Q4 '25

Period

2026-02-17

Filed

📈

Simulated 13F Return

⚠️ Approximation

Total Return

+15.89%

Q4 '24 → Q3 '25

Annualized

+21.81%/yr

S&P: +18.77%/yr

Alpha (vs S&P)

+2.17%

3 quarters tracked

1-Year Return

—

⚠️ Approximation only. 13F filings are delayed ~45 days. Options, shorts, and intra-quarter trades not captured.

📈 Recent Activity

Changes from previous quarter

PCGREDUCED

7.6% of portfolio

-32% shares-0.8pp

NVDAINCREASED

7.6% of portfolio

+4% shares+1.6pp

AMZNREDUCED

6.9% of portfolio

-23% shares

MSFTINCREASED

6.1% of portfolio

-16% shares-0.2pp

UNPREDUCED

5.8% of portfolio

+107% shares+3.5pp

CRHINCREASED

4.5% of portfolio

+20% shares+1.6pp

SGIINCREASED

4.2% of portfolio

+13% shares+1.4pp

BNINCREASED

3.9% of portfolio

+33% shares+0.3pp

NSCINCREASED

3.9% of portfolio

-41% shares-1.6pp

TDSREDUCED

3.8% of portfolio

-0% shares+0.8pp

COFREDUCED

3.7% of portfolio

-21% shares+0.4pp

CASYREDUCED

3.5% of portfolio

-9% shares+0.3pp

CRSREDUCED

3.4% of portfolio

-8% shares+1.1pp

LYVINCREASED

3.4% of portfolio

+28% shares+0.9pp

CSGPINCREASED

2.9% of portfolio

+5% shares+0.1pp

MTZINCREASED

2.8% of portfolio

+28% shares+1.0pp

RKTINCREASED

2.5% of portfolio

+138% shares+1.7pp

LPLAREDUCED

2.5% of portfolio

-14% shares+0.3pp

CMGNEW

2.4% of portfolio

New position

CEGNEW

2.3% of portfolio

New position

VSTREDUCED

2.2% of portfolio

+7% shares+0.2pp

DHRINCREASED

1.9% of portfolio

+11x shares+1.8pp

SNREDUCED

1.8% of portfolio

-33% shares-0.2pp

TSMINCREASED

1.8% of portfolio

-61% shares-1.6pp

BABANEW

1.7% of portfolio

New position

APGNEW

1.6% of portfolio

New position

FIXREDUCED

1.3% of portfolio

-48% shares-0.5pp

SPOTNEW

0.8% of portfolio

New position

KVUEREDUCED

0.8% of portfolio

-64% shares-0.9pp

PGRNEW

0.7% of portfolio

New position

TMONEW

0.4% of portfolio

New position

WIXNEW

0.3% of portfolio

New position

CSXNEW

0.2% of portfolio

New position

SPRYNEW

0.1% of portfolio

New position

CTEVNEW

0.1% of portfolio

New position

BHCINCREASED

<0.1% of portfolio

+250% shares+0.0pp

SPYSOLD

was 6.5%

Sold out position

Filing price: $666.18

FLUTSOLD

was 3.2%

Sold out position

Filing price: $254.00

COOPSOLD

was 2.2%

Sold out position

Filing price: $210.79

METASOLD

was 1.8%

Sold out position

Filing price: $734.38

TLNSOLD

was 1.7%

Sold out position

Filing price: $425.38

JSOLD

was 1.5%

Sold out position

Filing price: $149.86

PRMBSOLD

was 1.4%

Sold out position

Filing price: $22.10

FNDSOLD

was 1.1%

Sold out position

Filing price: $73.70

APOSOLD

was 1.0%

Sold out position

Filing price: $133.27

APOSSOLD

was 0.7%

Sold out position

Filing price: $70.28

CORZSOLD

was 0.6%

Sold out position

Filing price: $17.94

KVUESOLD

was 0.3%

Sold out position

Filing price: $16.23

CHCTSOLD

was <0.1%

Sold out position

Filing price: $3.21

Sold Out (13)

SOLDAPOSAPOLLO GLOBAL MGMT INCwas 0.70%@$70.28

SOLDCHCTCOMMUNITY HEALTH SYS INC NEWwas 0.01%@$3.21

SOLDFLUTFLUTTER ENTMT PLCwas 3.16%@$254.00

SOLDJJACOBS SOLUTIONS INCwas 1.53%@$149.86

SOLDKVUEKENVUE INCwas 0.27%@$16.23

SOLDMETAMETA PLATFORMS INCwas 1.80%@$734.38

SOLDPRMBPRIMO BRANDS CORPORATIONwas 1.42%@$22.10

SOLDTLNTALEN ENERGY CORPwas 1.66%@$425.38

SOLDAPOAPOLLO GLOBAL MGMT INCwas 0.96%@$133.27

SOLDCORZCORE SCIENTIFIC INC NEWwas 0.60%@$17.94

SOLDSPYSPDR S&P 500 ETFwas 6.48%@$666.18

SOLDFNDFLOOR & DECOR HLDGS INCwas 1.09%@$73.70

SOLDCOOPMR COOPER GROUP INCwas 2.17%@$210.79

📊 Sector Breakdown

Portfolio allocation by sector

Unknown 63.4%Technology 24.0%Communication Services 4.2%Financials 3.7%Consumer Discretionary 2.4%+1 more (2.3%)

💼 Holdings

🔍

44 of 44 positions · $7.27B

This quarter: 11 new positions, increased 13, reduced 12, sold 13. Net seller.

#	Stock	% Portfolio▼	Activity	Shares	Reported Price	Value	Current Price	+/- Reported	52w Low	52w High	SEC
1	PCGPG&E CORP	7.6%	Reduce 31.54%	34300000	$16.07	$551.2M	—	—	—	—	📄
2	NVDANVIDIA CORPORATION	7.6%	Add 3.51%	2950000	$186.50	$550.2M	—	—	—	—	📄
3	AMZNAMAZON COM INC	6.9%	Reduce 22.95%	2165000	$230.82	$499.7M	—	—	—	—	📄
4	MSFTMICROSOFT CORP	6.1%	Add 15.91%	925000	$483.62	$447.3M	—	—	—	—	📄
5	UNPUNION PAC CORP	5.8%	Reduce 106.86%	1810000	$231.32	$418.7M	—	—	—	—	📄
6	CRHCRH PLC	4.5%	Add 20.09%	2600000	$124.80	$324.5M	—	—	—	—	📄
7	SGISOMNIGROUP INTERNATIONAL INC	4.2%	Add 13.33%	3400000	$89.28	$303.6M	—	—	—	—	📄
8	BNBROOKFIELD CORP	3.9%	Add 32.62%	6200000	$45.89	$284.5M	—	—	—	—	📄
9	NSCNORFOLK SOUTHN CORP	3.9%	Add 40.91%	975000	$288.72	$281.5M	—	—	—	—	📄
10	TDSTELEPHONE & DATA SYS INC	3.8%	Reduce 0.48%	6675000	$41.00	$273.7M	—	—	—	—	📄
11	COFCapital One Financial	3.7%	Reduce 20.58%	1100000	$242.36	$266.6M	—	—	—	—	📄
12	CASYCASEYS GEN STORES INC	3.5%	Reduce 9.00%	455000	$552.71	$251.5M	—	—	—	—	📄
13	CRSCARPENTER TECHNOLOGY CORP	3.4%	Reduce 7.65%	785000	$314.84	$247.1M	—	—	—	—	📄
14	LYVLIVE NATION ENTERTAINMENT IN	3.4%	Add 27.78%	1725000	$142.50	$245.8M	—	—	—	—	📄
15	CSGPCOSTAR GROUP INC	2.9%	Add 4.91%	3165000	$67.24	$212.8M	—	—	—	—	📄
16	MTZMASTEC INC	2.8%	Add 27.59%	925000	$217.37	$201.1M	—	—	—	—	📄
17	RKTROCKET COS INC	2.5%	Add 137.88%	9515000	$19.36	$184.2M	—	—	—	—	📄
18	LPLALPL FINL HLDGS INC	2.5%	Reduce 14.16%	510000	$357.17	$182.2M	—	—	—	—	📄
19	CMGCHIPOTLE MEXICAN GRILL INC	2.4%	Buy	4725000	$37.00	$174.8M	—	—	—	—	📄
20	CEGCONSTELLATION ENERGY CORP	2.3%	Buy	475000	$353.27	$167.8M	—	—	—	—	📄
21	VSTVISTRA CORP	2.2%	Reduce 7.49%	1005000	$161.33	$162.1M	—	—	—	—	📄
22	DHRDANAHER CORPORATION	1.9%	Add 1100.00%	600000	$228.92	$137.4M	—	—	—	—	📄
23	SNSHARKNINJA INC	1.8%	Reduce 33.33%	1200000	$111.90	$134.3M	—	—	—	—	📄
24	TSMTAIWAN SEMICONDUCTOR MFG LTD	1.8%	Add 61.36%	425000	$303.89	$129.2M	—	—	—	—	📄
25	BABAALIBABA GROUP HLDG LTD	1.7%	Buy	825000	$146.58	$120.9M	—	—	—	—	📄
26	APGAPI GROUP CORP	1.6%	Buy	3000000	$38.26	$114.8M	—	—	—	—	📄
27	FIXCOMFORT SYS USA INC	1.3%	Reduce 47.50%	105000	$933.29	$98.0M	—	—	—	—	📄
28	SPOTSPOTIFY TECHNOLOGY S A	0.8%	Buy	100000	$580.71	$58.1M	—	—	—	—	📄
29	KVUEKENVUE INC	0.8%	Reduce 63.89%	3250000	$17.25	$56.1M	—	—	—	—	📄
30	PGRPROGRESSIVE CORP	0.7%	Buy	220000	$227.72	$50.1M	—	—	—	—	📄
31	TMOTHERMO FISHER SCIENTIFIC INC	0.4%	Buy	50000	$579.45	$29.0M	—	—	—	—	📄
32	BLDESTRATA CRITICAL MEDICAL INC	0.3%	Held	5000000	$4.81	$24.1M	—	—	—	—	📄
33	WIXWIX COM LTD	0.3%	Buy	225000	$103.89	$23.4M	—	—	—	—	📄
34	CSXCSX CORP	0.2%	Buy	500000	$36.25	$18.1M	—	—	—	—	📄
35	HTZWWHERTZ GLOBAL HLDGS INC	0.1%	Held	3970000	$2.68	$10.6M	—	—	—	—	📄
36	PCG-PXPG&E CORP	0.1%	Held	10000000	$1.03	$10.3M	—	—	—	—	📄
37	SPRYARS PHARMACEUTICALS INC	0.1%	Buy	556237	$11.65	$6.5M	—	—	—	—	📄
38	CTEVCLARITEV CORPORATION	0.1%	Buy	145000	$42.75	$6.2M	—	—	—	—	📄
39	PCGPG&E CORP	0.1%	Held	140000	$41.00	$5.7M	—	—	—	—	📄
40	FLYXFLYEXCLUSIVE INC	0.1%	Held	1022000	$4.11	$4.2M	—	—	—	—	📄
41	AUROWAURORA INNOVATION INC	0.1%	Held	1032463	$3.84	$4.0M	—	—	—	—	📄
42	BHCBAUSCH HEALTH COS INC	<0.1%	Add 250.00%	350000	$6.95	$2.4M	—	—	—	—	📄
43	AUROWAURORA INNOVATION INC	<0.1%	Held	1835000	$0.23	$413K	—	—	—	—	📄
44	FLYXWSFLYEXCLUSIVE INC	<0.1%	Held	367499	$0.28	$105K	—	—	—	—	📄

PCGREDUCED

7.6%

7.6% of portfolio (was 8.4%, trimmed)

Filed ~$16

—📄

NVDAINCREASED

7.6%

7.6% of portfolio (was 5.9%, added)

Filed ~$187

—📄

AMZNREDUCED

6.9%

6.9% of portfolio (was 6.9%, trimmed)

Filed ~$231

—📄

MSFTINCREASED

6.1%

6.1% of portfolio (was 6.3%, added)

Filed ~$484

—📄

UNPREDUCED

5.8%

5.8% of portfolio (was 2.3%, trimmed)

Filed ~$231

—📄

CRHINCREASED

4.5%

4.5% of portfolio (was 2.9%, added)

Filed ~$125

—📄

SGIINCREASED

4.2%

4.2% of portfolio (was 2.8%, added)

Filed ~$89

—📄

BNINCREASED

3.9%

3.9% of portfolio (was 3.6%, added)

Filed ~$46

—📄

NSCINCREASED

3.9%

3.9% of portfolio (was 5.5%, added)

Filed ~$289

—📄

TDSREDUCED

3.8%

3.8% of portfolio (was 2.9%, trimmed)

Filed ~$41

—📄

COFREDUCED

3.7%

3.7% of portfolio (was 3.3%, trimmed)

Filed ~$242

—📄

CASYREDUCED

3.5%

3.5% of portfolio (was 3.1%, trimmed)

Filed ~$553

—📄

CRSREDUCED

3.4%

3.4% of portfolio (was 2.3%, trimmed)

Filed ~$315

—📄

LYVINCREASED

3.4%

3.4% of portfolio (was 2.5%, added)

Filed ~$143

—📄

CSGPINCREASED

2.9%

2.9% of portfolio (was 2.8%, added)

Filed ~$67

—📄

MTZINCREASED

2.8%

2.8% of portfolio (was 1.7%, added)

Filed ~$217

—📄

RKTINCREASED

2.5%

2.5% of portfolio (was 0.9%, added)

Filed ~$19

—📄

LPLAREDUCED

2.5%

2.5% of portfolio (was 2.2%, trimmed)

Filed ~$357

—📄

CMGNEW

2.4%

2.4% of portfolio (new position)

Filed ~$37

—📄

CEGNEW

2.3%

2.3% of portfolio (new position)

Filed ~$353

—📄

VSTREDUCED

2.2%

2.2% of portfolio (was 2.0%, trimmed)

Filed ~$161

—📄

DHRINCREASED

1.9%

1.9% of portfolio (was 0.1%, added)

Filed ~$229

—📄

SNREDUCED

1.8%

1.8% of portfolio (was 2.1%, trimmed)

Filed ~$112

—📄

TSMINCREASED

1.8%

1.8% of portfolio (was 3.4%, added)

Filed ~$304

—📄

BABANEW

1.7%

1.7% of portfolio (new position)

Filed ~$147

—📄

APGNEW

1.6%

1.6% of portfolio (new position)

Filed ~$38

—📄

FIXREDUCED

1.3%

1.3% of portfolio (was 1.8%, trimmed)

Filed ~$933

—📄

SPOTNEW

0.8%

0.8% of portfolio (new position)

Filed ~$581

—📄

KVUEREDUCED

0.8%

0.8% of portfolio (was 1.6%, trimmed)

Filed ~$17

—📄

PGRNEW

0.7%

0.7% of portfolio (new position)

Filed ~$228

—📄

TMONEW

0.4%

0.4% of portfolio (new position)

Filed ~$579

—📄

BLDE

0.3%

0.3% of portfolio

Filed ~$5

—📄

WIXNEW

0.3%

0.3% of portfolio (new position)

Filed ~$104

—📄

CSXNEW

0.2%

0.2% of portfolio (new position)

Filed ~$36

—📄

HTZWW

0.1%

0.1% of portfolio

Filed ~$3

—📄

PCG-PX

0.1%

0.1% of portfolio

Filed ~$1

—📄

SPRYNEW

0.1%

0.1% of portfolio (new position)

Filed ~$12

—📄

CTEVNEW

0.1%

0.1% of portfolio (new position)

Filed ~$43

—📄

PCG

0.1%

0.1% of portfolio

Filed ~$41

—📄

FLYX

0.1%

0.1% of portfolio

Filed ~$4

—📄

AUROW

0.1%

0.1% of portfolio

Filed ~$4

—📄

BHCINCREASED

<0.1%

<0.1% of portfolio (was <0.1%, added)

Filed ~$7

—📄

AUROW

<0.1%

<0.1% of portfolio

Filed ~$0

—📄

FLYXWS

<0.1%

<0.1% of portfolio

Filed ~$0

—📄

🚫 Sold Out (13 positions)

SOLDAPOSAPOLLO GLOBAL MGMT INCwas 0.70%@$70.28900000 shares · $63.3M

SOLDCHCTCOMMUNITY HEALTH SYS INC NEWwas 0.01%@$3.21150000 shares · $482K

SOLDFLUTFLUTTER ENTMT PLCwas 3.16%@$254.001120000 shares · $284.5M

SOLDJJACOBS SOLUTIONS INCwas 1.53%@$149.86915000 shares · $137.1M

SOLDKVUEKENVUE INCwas 0.27%@$16.231500000 shares · $24.3M

SOLDMETAMETA PLATFORMS INCwas 1.80%@$734.38220000 shares · $161.6M

SOLDPRMBPRIMO BRANDS CORPORATIONwas 1.42%@$22.105775000 shares · $127.6M

SOLDTLNTALEN ENERGY CORPwas 1.66%@$425.38350000 shares · $148.9M

SOLDAPOAPOLLO GLOBAL MGMT INCwas 0.96%@$133.27650000 shares · $86.6M

SOLDCORZCORE SCIENTIFIC INC NEWwas 0.60%@$17.943000000 shares · $53.8M

SOLDSPYSPDR S&P 500 ETFwas 6.48%@$666.18875000 shares · $582.9M

SOLDFNDFLOOR & DECOR HLDGS INCwas 1.09%@$73.701330000 shares · $98.0M

SOLDCOOPMR COOPER GROUP INCwas 2.17%@$210.79925000 shares · $195.0M

Daniel Loebi

Simulated 13F Return

📈 Recent Activity

📊 Sector Breakdown

💼 Holdings

🚫 Sold Out (13 positions)

Daniel Loeb