Third Point 13F, Q1 2025
Daniel Loeb · quarter ending 31 March 2025 · filed 15 May 2025 · SEC CIK 1040273
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 1 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q1 2025
The 25 largest of 44 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| PG&E CORP | PCG | $877.90M | 13.8% | +5% shares |
| AMAZON COM INC | AMZN | $447.11M | 7.0% | -32% shares |
| TAIWAN SEMICONDUCTOR MFG LTD | TSM | $295.48M | 4.6% | unchanged |
| LIVE NATION ENTERTAINMENT IN | LYV | $274.22M | 4.3% | +22% shares |
| TELEPHONE & DATA SYS INC | TDS | $261.88M | 4.1% | +13% shares |
| CRH PLC | $238.84M | 3.8% | unchanged | |
| BROOKFIELD CORP | BN | $222.22M | 3.5% | -15% shares |
| FLUTTER ENTMT PLC | $214.90M | 3.4% | +12% shares | |
| KENVUE INC | KVUE | $213.42M | 3.4% | new |
| CORPAY INC | CPAY | $212.72M | 3.3% | unchanged |
| APOLLO GLOBAL MGMT INC | APO | $205.41M | 3.2% | +275% shares |
| LPL FINL HLDGS INC | LPLA | $204.46M | 3.2% | -5% shares |
| INTERCONTINENTAL EXCHANGE IN | ICE | $189.75M | 3.0% | -47% shares |
| CAPITAL ONE FINL CORP | COF | $188.26M | 3.0% | +14% shares |
| JACOBS SOLUTIONS INC | J | $169.25M | 2.7% | -15% shares |
| CARPENTER TECHNOLOGY CORP | CRS | $157.63M | 2.5% | unchanged |
| EQT CORP | EQT | $157.62M | 2.5% | unchanged |
| NVIDIA CORPORATION | NVDA | $157.15M | 2.5% | new |
| COSTAR GROUP INC | CSGP | $156.48M | 2.5% | new |
| UNITED STATES STL CORP NEW | $153.19M | 2.4% | new | |
| FORTIVE CORP | FTV | $139.04M | 2.2% | unchanged |
| CASEYS GEN STORES INC | CASY | $130.21M | 2.0% | new |
| DISCOVER FINL SVCS | $126.32M | 2.0% | +16% shares | |
| MICROSOFT CORP | MSFT | $118.25M | 1.9% | -48% shares |
| TALEN ENERGY CORP | TLN | $116.81M | 1.8% | new |
What changed since Q4 2024
Against the Q4 2024 filing, Third Point opened 10 new positions, added to 9, trimmed 7, left 18 unchanged and exited 9. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- KVUE$213.42M
- NVDA$157.15M
- CSGP$156.48M
- UNITED STATES STL CORP NEW$153.19M
- CASY$130.21M
- TLN$116.81M
- T$105.64M
- RBA$95.28M
and 2 more
Exited
- DHRwas $436.14M
- METAwas $389.36M
- FERGwas $208.28M
- TSLAwas $201.92M
- TMOwas $182.08M
- WDAYwas $129.01M
- CNKwas $116.17M
- GLOBAL BLUE GROUP HOLDING AGwas $58.13M
and 1 more
Other quarters
Source: SEC Form 13F-HR, accession 0001085146-25-003337, filed by Third Point LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.