13F filer · CIK 1040273 ↗
Third Point
You are looking at Q4 2018. See the latest, Q2 2026 →
Reported value
$6.51B
−55% on the quarter before
Positions
22
1 new · 10 sold out
Top 10
77.5%
of the value
Est. gain
−$2.37B
on stocks held all quarter
Est. return
−27.7%
on those stocks since Q3 2018
Positions as of Dec 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 Q3 2018. Striped tiles are options.
Largest buys
Since Q3 2018, 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.
- Cigna Corp New~$109.2MNew · 0.0% → 1.7%+575,000 shares
- Campbell Soup Co~$99.0MAdded · 4.6% → 10.6%+3,000,000 shares
- Salesforce~$92.5MAdded · 0.6% → 2.5%+675,000 shares
- Shire Plc~$20.8MAdded · 2.0% → 4.6%+119,413 shares
- IQVIA~$15.1MAdded · 1.4% → 2.9%+130,000 shares
Largest sells
Since Q3 2018, 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~$1.17BSold out · 8.2% → 0.0%−8,400,000 shares
- Alibaba~$666.5MSold out · 4.7% → 0.0%−4,045,000 shares
- Baxter Intl Inc~$526.6MCut · 19.4% → 28.3%−8,000,000 shares
- Microsoft~$468.9MSold out · 3.3% → 0.0%−4,100,000 shares
- Netflix~$467.7MSold out · 3.3% → 0.0%−1,250,000 shares
- PayPal~$422.6MCut · 5.6% → 5.2%−5,025,000 shares
- Marathon Pete Corp~$279.9MSold out · 2.0% → 0.0%−3,500,000 shares
- Lennar Corp~$241.4MSold out · 1.7% → 0.0%−5,170,000 shares
- Dover Corp~$240.2MCut · 2.5% → 0.7%−3,385,000 shares
- Deere & Co~$202.9MSold out · 1.4% → 0.0%−1,350,000 shares
Holdings
As of Dec 31, 2018. Changes are in shares against Sep 30, 2018, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Baxter Intl IncCOM · shares −22% · price −14.6% | 28.3% | $1.84B | −$315.6M | ||||||||
| Campbell Soup CoCOM · shares +17% · price −9.9% | 10.6% | $692.8M | −$65.5M | ||||||||
| Dowdupont IncCOM · shares −21% · price −16.8% | 7.9% | $516.4M | −$104.6M | ||||||||
| PayPalCOM · shares −56% · price −4.3% | 5.2% | $338.5M | −$15.1M | ||||||||
| Danaher Corp DelCOM · shares −4.3% · price −5.1% | 4.9% | $320.7M | −$17.2M | ||||||||
| Shire PlcSPONSORED ADR · shares +7.5% · price −4.0% | 4.6% | $299.2M | −$11.6M | ||||||||
| Constellation Brands IncCL A · shares −27% · price −25.4% | 4.3% | $281.4M | −$95.9M | ||||||||
| American Express CoCOM · shares −42% · price −10.5% | 4.2% | $276.4M | −$32.4M | ||||||||
| SothebysCOM · shares 0% · price −19.2% | 4.1% | $264.7M | −$63.0M | ||||||||
| Merck & Co IncCOM · shares −38% · price +7.7% | 3.3% | $212.0M | +$15.2M | ||||||||
| AdobeCOM · shares 0% · price −16.2% | 3.1% | $203.6M | −$39.3M | ||||||||
| Worldpay IncCL A · shares −14% · price −24.5% | 3.1% | $201.0M | −$65.3M | ||||||||
| Visa Inc.COM CL A · shares −12% · price −12.1% | 3.0% | $197.9M | −$27.2M | ||||||||
| IQVIACOM · shares +8.7% · price −10.5% | 2.9% | $189.4M | −$20.4M | ||||||||
| SalesforceCOM · shares +135% · price −13.9% | 2.5% | $160.9M | −$11.0M | ||||||||
| Far Pt Acquisition CorpCL A FOUNDERS SH · shares 0% · price −90.2% | 2.4% | $158.3M | −$1.45B | ||||||||
| S&P Global IncCOM · shares −19% · price −13.0% | 2.1% | $136.0M | −$20.4M | ||||||||
| Cigna Corp NewCOM · shares New | 1.7% | $109.2M | — | ||||||||
| Dover CorpCOM · shares −85% · price −19.9% | 0.67% | $43.6M | −$10.8M | ||||||||
| Far Pt Acquisition CorpUNIT 06/01/2025 · shares 0% · price −1.8% | 0.62% | $40.4M | −$760,000 | ||||||||
| Kadmon Hldgs IncCOM · shares 0% · price −37.7% | 0.30% | $19.6M | −$11.9M | ||||||||
| Ishares Tr1 3 YR TREAS BD · shares −6.2% · price +0.6% | 0.05% | $3.3M | +$20,868 | ||||||||
| Total · 22 positions | 100% | $6.51B | −$2.37B |
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 Q3 2018 to Q4 2018: 21 stocks held throughout, down $2.37B (−27.7%).
- Merck & Co Inc+$15.2M+8%
- Ishares Tr+$20,868+1%
- Campbell Soup Co−$65.5M−10%
- Constellation Brands Inc−$95.9M−25%
- Dowdupont Inc−$104.6M−17%
- Baxter Intl Inc−$315.6M−15%
- Far Pt Acquisition Corp−$1.45B−90%
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.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $4.68B+125% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $2.08B−71% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $7.27B−19% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $8.99B+18% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $7.62B+16% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $6.55B−12% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $7.44B+0% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $7.43B−15% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $8.74B+11% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $7.85B+18% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $6.64B+1% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $6.59B−3% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $6.82B+12% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $6.11B+2% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $5.97B+8% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $5.53B+31% | SEC ↗ |
| Q2 2022 | Aug 15, 2022 | $4.22B−45% | SEC ↗ |
| Q1 2022 | May 16, 2022 | $7.68B−46% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 | $14.33B−22% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 | $18.32B+7% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $17.08B+15% | SEC ↗ |
| Q1 2021 | May 14, 2021 | $14.84B+14% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 | $12.97B+30% | SEC ↗ |
| Q3 2020 | Nov 13, 2020 | $10.00B+37% | SEC ↗ |
| Q2 2020 | Aug 17, 2020 | $7.30B+17% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $6.27B−28% | SEC ↗ |
| Q4 2019 | Feb 13, 2020 | $8.70B+3% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $8.42B−1% | SEC ↗ |
| Q2 2019 | Aug 12, 2019 | $8.54B−5% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $8.99B+38% | SEC ↗ |
| Q4 2018 | Feb 8, 2019 | $6.51B−55% | SEC ↗ |
| Q3 2018 | Nov 9, 2018 | $14.31B−0% | SEC ↗ |
| Q2 2018 | Aug 10, 2018 | $14.35B+8% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $13.32B−4% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $13.86B+16% | SEC ↗ |
| Q3 2017 | Nov 9, 2017 | $11.90B+5% | SEC ↗ |
| Q2 2017 | Aug 11, 2017 | $11.28B+10% | SEC ↗ |
| Q1 2017 | May 12, 2017 | $10.25B+1% | SEC ↗ |
| Q4 2016 | Feb 10, 2017 | $10.19B−11% | SEC ↗ |
| Q3 2016 | Nov 10, 2016 | $11.50B+10% | SEC ↗ |
| Q2 2016 | Aug 12, 2016 | $10.49B−3% | SEC ↗ |
| Q1 2016 | May 13, 2016 | $10.86B | SEC ↗ |