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Overview/ Third Point LLC/ Q4 2025

Third Point LLC

Daniel Loeb · As of Q4 2025 · filed Feb 17, 2026

Q4 2025

Holdings

44 positions · Δ vs prior quarter
PCG P G & E CORP
$551.2M
7.6%
34,300,000 −15,800,000 −31.5% Reduced
NVDA NVIDIA CORP
$550.2M
7.6%
2,950,000 +100,000 +3.5% Added
AMZN AMAZON.COM INC
$499.7M
6.9%
2,165,000 −645,000 −23.0% Reduced
MSFT MICROSOFT CORP
$447.3M
6.1%
925,000 −175,000 −15.9% Reduced
UNP UNION PACIFIC CORP
$418.7M
5.8%
1,810,000 +935,000 +106.9% Added
CRH CRH PLC
$324.5M
4.5%
2,600,000 +435,000 +20.1% Added
SGI SOMNIGROUP INTERNATIONAL INC
$303.6M
4.2%
3,400,000 +400,000 +13.3% Added
BN BROOKFIELD CORP
$284.5M
3.9%
6,200,000 +1,525,000 +32.6% Added
NSC NORFOLK SOUTHERN CORP
$281.5M
3.9%
975,000 −675,000 −40.9% Reduced
TDS TELEPHONE AND DATA SYSTEMS
$273.7M
3.8%
6,675,000 −32,274 −0.5% Reduced
COF CAPITAL ONE FINANCIAL CORP
$266.6M
3.7%
1,100,000 −285,000 −20.6% Reduced
CASY CASEY'S GENERAL STORES INC
$251.5M
3.5%
455,000 −45,000 −9.0% Reduced
CRS CARPENTER TECHNOLOGY
$247.1M
3.4%
785,000 −65,000 −7.6% Reduced
LYV LIVE NATION ENTERTAINMENT IN
$245.8M
3.4%
1,725,000 +375,000 +27.8% Added
CSGP COSTAR GROUP INC
$212.8M
2.9%
3,165,000 +148,000 +4.9% Added
MTZ MASTEC INC
$201.1M
2.8%
925,000 +200,000 +27.6% Added
RKT ROCKET COS INC-CLASS A
$184.2M
2.5%
9,515,000 +5,515,000 +137.9% Added
LPLA LPL FINANCIAL HOLDINGS INC
$182.2M
2.5%
510,000 −84,143 −14.2% Reduced
CMG CHIPOTLE MEXICAN GRILL INC
$174.8M
2.4%
4,725,000 +4,725,000 New
CEG CONSTELLATION ENERGY
$167.8M
2.3%
475,000 +475,000 New
VST VISTRA CORP
$162.1M
2.2%
1,005,000 +70,000 +7.5% Added
DHR DANAHER CORP
$137.4M
1.9%
600,000 +550,000 +1100.0% Added
SN SHARKNINJA INC
$134.3M
1.8%
1,200,000 −600,000 −33.3% Reduced
TSM TAIWAN SEMICONDUCTOR-SP ADR
$129.2M
1.8%
425,000 −675,000 −61.4% Reduced
BABA ALIBABA GROUP HOLDING-SP ADR
$120.9M
1.7%
825,000 +825,000 New
APG API GROUP CORP
$114.8M
1.6%
3,000,000 +3,000,000 New
FIX COMFORT SYSTEMS USA INC
$98.0M
1.3%
105,000 −95,000 −47.5% Reduced
SPOT SPOTIFY TECHNOLOGY SA
$58.1M
0.8%
100,000 +100,000 New
KVUE KENVUE INC
$56.1M
0.8%
3,250,000 −5,750,000 −63.9% Reduced
PGR PROGRESSIVE CORP
$50.1M
0.7%
220,000 +220,000 New
TMO THERMO FISHER SCIENTIFIC INC
$29.0M
0.4%
50,000 +50,000 New
SRTA STRATA CRITICAL MEDICAL INC
$24.1M
0.3%
5,000,000 Held
WIX WIX.COM LTD
$23.4M
0.3%
225,000 +225,000 New
CSX CSX CORP
$18.1M
0.2%
500,000 +500,000 New
HTZWW HERTZ GLOBAL HLDGS INC -CW51
$10.6M
0.1%
3,970,000 Held
PCG 4.25 12/01/27 PRN PG&E CORP
$10.3M
0.1%
10,000,000 Held
SPRY ARS PHARMACEUTICALS INC
$6.5M
0.1%
556,237 +556,237 New
CTEV CLARITEV CORP
$6.2M
0.1%
145,000 +145,000 New
PCG 6 12/01/27 A PG&E CORP
$5.7M
0.1%
140,000 Held
FLYX FLYEXCLUSIVE INC
$4.2M
0.1%
1,022,000 Held
AUR AURORA INNOVATION INC
$4.0M
0.1%
1,032,463 Held
BHC BAUSCH HEALTH COS INC
$2.4M
0.0%
350,000 +250,000 +250.0% Added
AUROW AURORA INNOVATION INC -CW28
$413K
0.0%
1,835,000 Held
FLYX/WS EG ACQUISITION CORP-A -CW28
$105K
0.0%
367,499 Held

Sold positions

13 closed in Q4 2025 · shares & value as of prior filing
Holding Shares sold Prior value
SPY PUT SS SPDR S&P 500 ETF TRUST-US
875,000 $582.9M
FLUT FLUTTER ENTERTAINMENT PLC-DI
1,120,000 $284.5M
COOP MR COOPER GROUP INC
925,000 $195.0M
META META PLATFORMS INC-CLASS A
220,000 $161.6M
TLN TALEN ENERGY CORP
350,000 $148.9M
J JACOBS SOLUTIONS INC
915,000 $137.1M
PRMB PRIMO BRANDS CORP
5,775,000 $127.6M
FND FLOOR & DECOR HOLDINGS INC-A
1,330,000 $98.0M
APO APOLLO GLOBAL MANAGEMENT INC
650,000 $86.6M
APO 6.75 07/31/26 APOLLO GLOBAL MANAGEMENT
900,000 $63.3M
CORZ CORE SCIENTIFIC INC
3,000,000 $53.8M
KVUE CALL KENVUE INC
1,500,000 $24.3M
CYH COMMUNITY HEALTH SYSTEMS INC
150,000 $482K

Holdings reflect long positions disclosed in 13F filings only and exclude short positions, cash, and other non-13F assets. Holdings data sourced from SEC EDGAR. Not investment advice. Full disclaimer.