13F filer · CIK 1040273 ↗

Third Point

Daniel LoebChief Executive Officer and Chief Investment Officer

You are looking at Q1 2018. See the latest, Q2 2026 →

Reported value

$13.32B

−3.9% on the quarter before

Positions

13 new · 17 sold out

Top 10

62.9%

of the value

Est. gain

+$57.5M

on stocks held all quarter

Est. return

+0.6%

on those stocks since Q4 2017

Filed

May 15, 2018

On SEC EDGAR ↗

Positions as of Mar 31, 2018, from Third Point's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.

Portfolio at a glance

New
Added
Cut
Same
Options

Each tile is a position, sized by its share, colored by what the fund did with it since Q4 2017. Striped tiles are options.

Baxter Intl Inc18%

16 others7.6%

Dowdupont Inc6.7%

United Technologies Corp6.7%

Alibaba5.5%Meta4.8%Alphabet4.5%Netflix4.4%BlackRock4.4%

Time Warner IncCALL4.3%

Constellation Brands Inc3.9%

Dover Corp2.9%

Lennar Corp2.8%

Intercontinental Exchange In2.7%

Sothebys2.6%

Worldpay Inc2.5%

Vulcan Matls Co2.5%

Danaher Corp Del2.4%

S&P Global Inc2.2%

Wynn Resorts Ltd2.1%

Sherwin Williams Co1.7%

Mohawk Inds Inc1.5%

Pagseguro Digital Ltd1.3%

Anthem Inc1.3%

Electronic Arts Inc1.1%

Baxter Intl Inc18%

16 others7.6%

Dowdupont Inc6.7%

United Technologies Corp6.7%

Alibaba5.5%Meta4.8%Alphabet4.5%Netflix4.4%BlackRock4.4%

Time Warner IncCALL4.3%

Constellation Brands Inc3.9%

Dover Corp2.9%

Lennar Corp2.8%

Intercontinental Exchange In2.7%

Sothebys2.6%

Worldpay Inc2.5%

Vulcan Matls Co2.5%

Danaher Corp Del2.4%

S&P Global Inc2.2%

Wynn Resorts Ltd2.1%

Sherwin Williams Co1.7%

Mohawk Inds Inc1.5%

Pagseguro Digital Ltd1.3%

Anthem Inc1.3%

Electronic Arts Inc1.1%

Largest buys

Since Q4 2017, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.

United Technologies Corp~$893.3MNew · 0.0% → 6.7%+7,100,000 shares
Worldpay Inc~$337.2MNew · 0.0% → 2.5%+4,100,000 shares
Wynn Resorts Ltd~$279.9MNew · 0.0% → 2.1%+1,535,000 shares
Dover Corp~$223.0MAdded · 1.2% → 2.9%+2,270,000 shares
Time Warner IncCALL~$189.2MAdded · 2.6% → 4.3%+2,000,000 underlying
Pagseguro Digital Ltd~$174.4MNew · 0.0% → 1.3%+4,550,000 shares
Electronic Arts Inc~$151.6MNew · 0.0% → 1.1%+1,250,000 shares
Marathon Pete Corp~$146.2MNew · 0.0% → 1.1%+2,000,000 shares
Monsanto Co NewCALL~$116.7MNew · 0.0% → 0.9%+1,000,000 underlying
Meta~$95.9MAdded · 4.3% → 4.8%+600,000 shares

Largest sells

Since Q4 2017, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.

Alibaba~$367.1MCut · 7.5% → 5.5%−2,000,000 shares
Aetna Inc New~$333.7MSold out · 2.4% → 0.0%−1,850,000 shares
Vantiv Inc~$294.2MSold out · 2.1% → 0.0%−4,000,000 shares
BlackRock~$251.9MCut · 5.7% → 4.4%−465,000 shares
Nxp Semiconductors N V~$251.7MSold out · 1.8% → 0.0%−2,150,000 shares
F M C Corp~$208.3MSold out · 1.5% → 0.0%−2,200,000 shares
Dell Technologies Inc~$203.2MSold out · 1.5% → 0.0%−2,500,000 shares
Honeywell Technologies~$195.5MSold out · 1.4% → 0.0%−1,275,000 shares
Rsp Permian Inc~$187.1MSold out · 1.4% → 0.0%−4,600,000 shares
Time Warner Inc~$182.9MSold out · 1.3% → 0.0%−2,000,000 shares

Holdings

As of Mar 31, 2018. Changes are in shares against Dec 31, 2017, so a price move alone never reads as a buy or a sale.

Positions, sorted by share of the portfolio
#	Holding		% prev	Value	Shares		Price	Prev price
1	Baxter Intl IncCOM · shares 0% · price +0.6%	17.6%	16.8%	$2.34B	36.0M	0%	$65.04	$64.64	+0.6%	+$14.4M
2	Dowdupont IncCOM · shares −6.0% · price −10.5%	6.7%	7.7%	$896.7M	14.1M	−6.0%	$63.71	$71.22	−10.5%	−$105.7M
3	United Technologies CorpCOM · shares New	6.7%	—	$893.3M	7.1M	New	$125.82	—	—	—
4	AlibabaSPONSORED ADS · shares −33% · price +6.4%	5.5%	7.5%	$734.2M	4.0M	−33%	$183.54	$172.43	+6.4%	+$44.4M
5	MetaCL A · shares +18% · price −9.4%	4.8%	4.3%	$639.2M	4.0M	+18%	$159.79	$176.46	−9.4%	−$56.7M
6	AlphabetCAP STK CL A · shares −17% · price −1.5%	4.5%	5.2%	$596.4M	575,000	−17%	$1,037.14	$1,053.40	−1.5%	−$9.3M
7	NetflixCOM · shares 0% · price +53.9%	4.4%	2.8%	$590.7M	2.0M	0%	$295.35	$191.96	+53.9%	+$206.8M
8	BlackRockCOM · shares −30% · price +5.5%	4.4%	5.7%	$587.8M	1.1M	−30%	$541.72	$513.71	+5.5%	+$30.4M
9	Time Warner IncCALLCOM NEW · shares +50%	4.3%	2.6%	$567.5M	6.0Munderlying	+50%	—	—	—	—
10	Constellation Brands IncCL A · shares −8.0% · price −0.3%	3.9%	4.1%	$524.2M	2.3M	−8.0%	$227.92	$228.57	−0.3%	−$1.5M
11	Dover CorpCOM · shares +138% · price −2.7%	2.9%	1.2%	$385.0M	3.9M	+138%	$98.22	$100.99	−2.7%	−$4.6M
12	Lennar CorpCL A · shares +18% · price −6.8%	2.8%	2.4%	$369.8M	6.3M	+18%	$58.94	$63.24	−6.8%	−$22.8M
13	Intercontinental Exchange InCOM · shares −9.1% · price +2.8%	2.7%	2.8%	$362.6M	5.0M	−9.1%	$72.52	$70.56	+2.8%	+$9.8M
14	SothebysCOM · shares 0% · price −0.6%	2.6%	2.5%	$341.8M	6.7M	0%	$51.31	$51.60	−0.6%	−$1.9M
15	Worldpay IncCL A · shares New	2.5%	—	$337.2M	4.1M	New	$82.24	—	—	—
16	Vulcan Matls CoCOM · shares +13% · price −11.1%	2.5%	2.4%	$335.7M	2.9M	+13%	$114.17	$128.37	−11.1%	−$36.9M
17	Danaher Corp DelCOM · shares −1.8% · price +5.5%	2.4%	2.2%	$318.2M	3.3M	−1.8%	$97.91	$92.82	+5.5%	+$16.5M
18	S&P Global IncCOM · shares −17% · price +12.8%	2.2%	2.2%	$286.6M	1.5M	−17%	$191.06	$169.40	+12.8%	+$32.5M
19	Wynn Resorts LtdCOM · shares New	2.1%	—	$279.9M	1.5M	New	$182.36	—	—	—
20	Sherwin Williams CoCOM · shares −2.5% · price −4.4%	1.7%	1.8%	$229.4M	585,000	−2.5%	$392.12	$410.04	−4.4%	−$10.5M
21	Mohawk Inds IncCOM · shares −17% · price −15.8%	1.5%	2.0%	$193.9M	835,000	−17%	$232.22	$275.90	−15.8%	−$36.5M
22	Pagseguro Digital LtdCOM CL A · shares New	1.3%	—	$174.4M	4.5M	New	$38.32	—	—	—
23	Anthem IncCOM · shares +109% · price −2.4%	1.3%	0.61%	$172.5M	785,000	+109%	$219.70	$225.01	−2.4%	−$2.0M
24	Electronic Arts IncCOM · shares New	1.1%	—	$151.6M	1.3M	New	$121.24	—	—	—
25	Marathon Pete CorpCOM · shares New	1.1%	—	$146.2M	2.0M	New	$73.11	—	—	—
	Total · 40 positions	100%		$13.32B						+$57.5M

The filing on SEC EDGAR ↗

Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.

What made money

From Q4 2017 to Q1 2018: 26 stocks held throughout, up $57.5M (+0.6%).

Netflix+$206.8M+54%
Alibaba+$44.4M+6%
S&P Global Inc+$32.5M+13%
BlackRock+$30.4M+5%
Danaher Corp Del+$16.5M+5%
Lennar Corp−$22.8M−7%
Mohawk Inds Inc−$36.5M−16%
Vulcan Matls Co−$36.9M−11%
Meta−$56.7M−9%
Dowdupont Inc−$105.7M−11%

Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.

Reported value by quarter

The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.

$20.00B$10.00B$0

Q1 201642 quartersQ2 2026

Every quarter's filing

Each quarter's 13F filing, newest first
Quarter	Filed	Reported value	Positions	Filing
Q2 2026	Aug 14, 2026	$4.68B+125%	43	SEC ↗
Q1 2026	May 15, 2026	$2.08B−71%	33	SEC ↗
Q4 2025	Feb 17, 2026	$7.27B−19%	44	SEC ↗
Q3 2025	Nov 14, 2025	$8.99B+18%	46	SEC ↗
Q2 2025	Aug 14, 2025	$7.62B+16%	51	SEC ↗
Q1 2025	May 15, 2025	$6.55B−12%	45	SEC ↗
Q4 2024	Feb 14, 2025	$7.44B+0%	43	SEC ↗
Q3 2024	Nov 14, 2024	$7.43B−15%	42	SEC ↗
Q2 2024	Aug 14, 2024	$8.74B+11%	44	SEC ↗
Q1 2024	May 15, 2024	$7.85B+18%	40	SEC ↗
Q4 2023	Feb 14, 2024	$6.64B+1%	37	SEC ↗
Q3 2023	Nov 14, 2023	$6.59B−3%	42	SEC ↗
Q2 2023	Aug 14, 2023	$6.82B+12%	45	SEC ↗
Q1 2023	May 15, 2023	$6.11B+2%	46	SEC ↗
Q4 2022	Feb 14, 2023	$5.97B+8%	44	SEC ↗
Q3 2022	Nov 14, 2022	$5.53B+31%	61	SEC ↗
Q2 2022	Aug 15, 2022	$4.22B−45%	58	SEC ↗
Q1 2022	May 16, 2022	$7.68B−46%	75	SEC ↗
Q4 2021	Feb 14, 2022	$14.33B−22%	92	SEC ↗
Q3 2021	Nov 15, 2021	$18.32B+7%	113	SEC ↗
Q2 2021	Aug 16, 2021	$17.08B+15%	126	SEC ↗
Q1 2021	May 14, 2021	$14.84B+14%	125	SEC ↗
Q4 2020	Feb 16, 2021	$12.97B+30%	74	SEC ↗
Q3 2020	Nov 13, 2020	$10.00B+37%	47	SEC ↗
Q2 2020	Aug 17, 2020	$7.30B+17%	36	SEC ↗
Q1 2020	May 15, 2020	$6.27B−28%	30	SEC ↗
Q4 2019	Feb 13, 2020	$8.70B+3%	37	SEC ↗
Q3 2019	Nov 14, 2019	$8.42B−1%	40	SEC ↗
Q2 2019	Aug 12, 2019	$8.54B−5%	42	SEC ↗
Q1 2019	May 15, 2019	$8.99B+38%	31	SEC ↗
Q4 2018	Feb 8, 2019	$6.51B−55%	22	SEC ↗
Q3 2018	Nov 9, 2018	$14.31B−0%	31	SEC ↗
Q2 2018	Aug 10, 2018	$14.35B+8%	38	SEC ↗
Q1 2018	May 15, 2018	$13.32B−4%	40	SEC ↗
Q4 2017	Feb 14, 2018	$13.86B+16%	44	SEC ↗
Q3 2017	Nov 9, 2017	$11.90B+5%	37	SEC ↗
Q2 2017	Aug 11, 2017	$11.28B+10%	32	SEC ↗
Q1 2017	May 12, 2017	$10.25B+1%	38	SEC ↗
Q4 2016	Feb 10, 2017	$10.19B−11%	38	SEC ↗
Q3 2016	Nov 10, 2016	$11.50B+10%	38	SEC ↗
Q2 2016	Aug 12, 2016	$10.49B−3%	40	SEC ↗
Q1 2016	May 13, 2016	$10.86B	37	SEC ↗