Third Point LLC
Portfolio value QoQ: +124.7% 13F does not disclose cash
Top 10 holdings weight60.09%
Top 25 holdings weight96.31%
Positions above 1%25
Effective number of positions19.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 9.8% Est. buys $2,637,929,577 · sells $331,472,073
Median holding: 2.0 quarters Tracked Q1 2025–Q2 2026 · 39.8% still held
New positions19
Increased13
Decreased4
Closed9
Put-notional exposure: 0.6% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
Portfolio value
$4.7B
Positions
43
As of
June 30, 2026 Data as of Q2 2026
Performance vs S&P 500
Tracked Q1 2025–Q2 2026
+28.5%
S&P 500 total return (same window)
+37.0%
Excess return
-8.5%
Annualized: +22.2% · S&P 500: +28.7%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Sector breakdown
Full portfolio 43 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| WBD | $533,200,000 | 11.39% | 20,000,000 | Up ×1 | |||
| AMZN | $417,095,000 | 8.91% | 1,750,000 | $13,051,200 | Down ×3 | ||
| GOOGL | $366,304,250 | 7.83% | 1,025,000 | $315,981,250 | Up ×1 | ||
| CRH | $234,865,000 | 5.02% | 2,195,000 | $35,137,000 | Up ×1 | ||
| TDS | $232,237,750 | 4.96% | 6,275,000 | $-45,622,250 | Down ×5 | ||
| TSM | $219,682,200 | 4.69% | 460,000 | $126,745,950 | Up ×1 | ||
| LYV | $207,829,850 | 4.44% | 1,135,000 | $136,912,700 | Up ×1 | ||
| KEYS | $204,790,950 | 4.38% | 585,000 | Up ×1 | |||
| SGI | $201,548,290 | 4.31% | 2,570,769 | $33,693,046 | Up ×1 | ||
| XYZ | $194,479,668 | 4.16% | 2,558,943 | Up ×1 | |||
| NSC | $188,754,000 | 4.03% | 600,000 | $160,054,000 | Up ×1 | ||
| FLEX | $166,932,100 | 3.57% | 1,030,000 | Up ×1 | |||
| COF | $165,511,500 | 3.54% | 825,000 | $139,971,300 | Up ×1 | ||
| HUT | $151,810,175 | 3.24% | 1,315,000 | $111,018,975 | Up ×1 | ||
| CRS | $132,620,600 | 2.83% | 215,000 | $10,434,100 | Down ×3 | ||
| APG | $121,332,750 | 2.59% | 2,865,000 | $39,077,150 | Up ×1 | ||
| MTZ | $120,657,400 | 2.58% | 290,000 | $17,700,600 | Down ×2 | ||
| TDG | $105,231,160 | 2.25% | 79,000 | $76,257,160 | Up ×1 | ||
| DHR | $102,859,200 | 2.20% | 540,000 | $3,319,200 | Up ×1 | ||
| UNP | $95,200,000 | 2.03% | 350,000 | $70,938,000 | Up ×1 | ||
| TTMI | $94,445,100 | 2.02% | 505,000 | Up ×1 | |||
| PFGC | $75,458,250 | 1.61% | 675,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 02079K404) | $66,157,000 | 1.41% | 1,300,000 | Up ×1 | |||
| ASML | $59,606,160 | 1.27% | 30,000 | $43,756,200 | Up ×1 | ||
| SYY | $48,157,226 | 1.03% | 580,000 | Up ×1 | |||
| ARES | $41,741,250 | 0.89% | 375,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 84615Q103) | $30,825,707 | 0.66% | 180,415 | Up ×1 | |||
| SPY | $28,800,000 | 0.62% | 40,000 | Put option | |||
| SRTA | $26,350,000 | 0.56% | 5,000,000 | $5,450,000 | |||
| Unknown issuer (CUSIP: 02079K602) | $10,060,000 | 0.21% | 200,000 | Up ×1 | |||
| SPRY | $8,010,000 | 0.17% | 1,000,000 | $-20,000 | |||
| AUR | $7,041,398 | 0.15% | 1,032,463 | $2,787,650 | |||
| Unknown issuer (CUSIP: 767292AB1) | $7,033,950 | 0.15% | 3,500,000 | Up ×1 | |||
| HTZWW | $4,327,300 | 0.09% | 3,970,000 | $-4,724,300 | |||
| FLYX | $2,044,000 | 0.04% | 1,022,000 | $-265,720 | |||
| BLCO | $1,407,600 | 0.03% | 85,000 | Up ×1 | |||
| CORZ | $1,381,860 | 0.03% | 54,000 | ||||
| Unknown issuer (CUSIP: 296013105) | $1,203,935 | 0.03% | 83,030 | Up ×1 | |||
| APLD | $820,600 | 0.02% | 22,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 53680QAA6) | $611,750 | 0.01% | 625,000 | Up ×1 | |||
| AUROW | $587,384 | 0.01% | 1,835,000 | $222,219 | |||
| WOLF | $482,500 | 0.01% | 10,000 | Up ×1 | |||
| FLYXWS | $77,175 | 0.00% | 367,499 | $-11,025 | |||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| WBD | $533,200,000 | 20,000,000 | 11.39% |
| KEYS | $204,790,950 | 585,000 | 4.38% |
| XYZ | $194,479,668 | 2,558,943 | 4.16% |
| FLEX | $166,932,100 | 1,030,000 | 3.57% |
| TTMI | $94,445,100 | 505,000 | 2.02% |
| PFGC | $75,458,250 | 675,000 | 1.61% |
| Unknown issuer (CUSIP: 02079K404) | $66,157,000 | 1,300,000 | 1.41% |
| SYY | $48,157,226 | 580,000 | 1.03% |
| ARES | $41,741,250 | 375,000 | 0.89% |
| Unknown issuer (CUSIP: 84615Q103) | $30,825,707 | 180,415 | 0.66% |
| SPY | $28,800,000 | 40,000 | 0.62% |
| Unknown issuer (CUSIP: 02079K602) | $10,060,000 | 200,000 | 0.21% |
| Unknown issuer (CUSIP: 767292AB1) | $7,033,950 | 3,500,000 | 0.15% |
| BLCO | $1,407,600 | 85,000 | 0.03% |
| CORZ | $1,381,860 | 54,000 | 0.03% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| LYV | Bought more | +670K | +$136.9M |
| TSM | Bought more | +185K | +$126.7M |
| HUT | Bought more | +445K | +$111.0M |
| TDG | Bought more | +54K | +$76.3M |
| UNP | Bought more | +250K | +$70.9M |
| TDS | Trimmed | -325K | -$45.6M |
| ASML | Bought more | +18K | +$43.8M |
| APG | Bought more | +835K | +$39.1M |
| CRH | Bought more | +295K | +$35.1M |
| SGI | Bought more | +300K | +$33.7M |
3 positions hidden — reported move looks larger than the position itself (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| SPY | Dec. 31, 2025 | 875,000 | $582,907,500 | No longer tracked |
| PCG | March 31, 2026 | 34,300,000 | $551,201,000 | -29.9% |
| MSFT | March 31, 2026 | 925,000 | $447,348,500 | 39.8% |
| BN | March 31, 2026 | 6,200,000 | $284,518,000 | -8.8% |
| FLUT | Dec. 31, 2025 | 1,120,000 | $284,480,000 | -65.2% |
| CASY | March 31, 2026 | 455,000 | $251,483,050 | -15.1% |
| CPAY | Sept. 30, 2025 | 685,000 | $227,296,700 | 37.0% |
| CSGP | March 31, 2026 | 3,165,000 | $212,814,600 | -32.1% |
| COOP | Dec. 31, 2025 | 925,000 | $194,980,750 | No longer tracked |
| RKT | March 31, 2026 | 9,515,000 | $184,210,400 | -17.9% |
| LPLA | March 31, 2026 | 510,000 | $182,156,700 | 5.2% |
| CMG | March 31, 2026 | 4,725,000 | $174,825,000 | 1.1% |
| ICE | Sept. 30, 2025 | 950,000 | $174,296,500 | -10.9% |
| CEG | March 31, 2026 | 475,000 | $167,803,250 | -7.8% |
| VST | March 31, 2026 | 1,005,000 | $162,136,650 | -6.9% |
| META | Dec. 31, 2025 | 220,000 | $161,563,600 | 10.3% |
| EQT | June 30, 2025 | 2,950,000 | $157,618,500 | -14.0% |
| X | June 30, 2025 | 3,625,000 | $153,192,500 | No longer tracked |
| TLN | Dec. 31, 2025 | 350,000 | $148,883,000 | -14.4% |
| J | Dec. 31, 2025 | 915,000 | $137,121,900 | 4.2% |
| PRMB | Dec. 31, 2025 | 5,775,000 | $127,627,500 | 19.3% |
| DFS | June 30, 2025 | 740,000 | $126,318,000 | No longer tracked |
| BABA | March 31, 2026 | 825,000 | $120,928,500 | -15.6% |
| T | June 30, 2025 | 3,775,000 | $105,637,713 | -16.0% |
| HES | June 30, 2025 | 625,000 | $99,831,250 | No longer tracked |
| FND | Dec. 31, 2025 | 1,330,000 | $98,021,000 | -25.3% |
| FIX | March 31, 2026 | 105,000 | $97,995,450 | 25.3% |
| APO | Dec. 31, 2025 | 650,000 | $86,625,500 | -21.2% |
| RBA | Sept. 30, 2025 | 695,000 | $73,802,050 | -24.4% |
| WDAY | Sept. 30, 2025 | 300,000 | $72,000,000 | -22.7% |
| APOPRA | Dec. 31, 2025 | 900,000 | $63,252,000 | No longer tracked |
| FLS | Sept. 30, 2025 | 1,195,000 | $62,558,250 | 40.0% |
| FTV | Sept. 30, 2025 | 1,160,000 | $60,470,800 | 17.3% |
| SPOT | March 31, 2026 | 100,000 | $58,071,000 | -2.5% |
| KVUE | March 31, 2026 | 3,250,000 | $56,062,500 | -0.2% |
| CORZ | Dec. 31, 2025 | 3,000,000 | $53,820,000 | 13.0% |
| META | June 30, 2026 | 90,000 | $51,491,700 | 29.3% |
| PGR | March 31, 2026 | 220,000 | $50,098,400 | 6.1% |
| DOCU | Sept. 30, 2025 | 625,000 | $48,681,250 | -4.3% |
| GLD | June 30, 2026 | 95,000 | $40,877,550 | |
| SHCO | Sept. 30, 2025 | 5,171,676 | $38,011,819 | No longer tracked |
| GTLS | Sept. 30, 2025 | 215,000 | $35,399,750 | No longer tracked |
| NVDA | June 30, 2026 | 190,000 | $33,136,000 | 16.9% |
| PINS | June 30, 2025 | 1,000,000 | $31,000,000 | -46.3% |
| TMO | March 31, 2026 | 50,000 | $28,972,500 | 33.2% |
| SDRL | June 30, 2025 | 1,025,000 | $25,625,000 | 67.0% |
| WIX | March 31, 2026 | 225,000 | $23,375,250 | -19.4% |
| CSX | March 31, 2026 | 500,000 | $18,125,000 | 15.5% |
| KLAC | June 30, 2026 | 11,000 | $16,196,510 | -31.4% |
| LRCX | June 30, 2026 | 75,000 | $16,024,500 | -19.8% |
| AVGO | June 30, 2026 | 50,000 | $15,475,500 | -6.0% |
| SMH | June 30, 2026 | 40,000 | $15,336,000 | -3.9% |
| SN | June 30, 2026 | 130,509 | $13,820,903 | 19.9% |
| SE | Sept. 30, 2025 | 50,000 | $7,997,000 | -46.7% |
| RAL | Sept. 30, 2025 | 125,003 | $6,061,395 | 67.4% |
| PCGPRX | March 31, 2026 | 140,000 | $5,740,000 | No longer tracked |
| BHC | March 31, 2026 | 350,000 | $2,432,500 | 7.4% |
| SABR | Sept. 30, 2025 | 750,000 | $2,370,000 | 7.7% |
| TTAN | Sept. 30, 2025 | 15,000 | $1,607,700 | -33.5% |
| CTEV | Sept. 30, 2025 | 30,000 | $1,353,900 | -55.3% |
| ASIC | Sept. 30, 2025 | 50,000 | $1,076,000 | 32.4% |
| ARDT | Sept. 30, 2025 | 75,000 | $1,024,500 | -22.0% |
| CTEV | June 30, 2026 | 44,000 | $718,960 | -30.5% |
| CYH | Dec. 31, 2025 | 150,000 | $481,500 | -12.8% |
| NPWRWS | June 30, 2025 | 500,000 | $152,500 | No longer tracked |
| GBWS | June 30, 2025 | 1,333,333 | $29,600 | No longer tracked |