13F filer · CIK 1040273 ↗
Third Point
You are looking at Q1 2025. See the latest, Q2 2026 →
Reported value
$6.55B
−12% on the quarter before
Positions
45
11 new · 9 sold out
Top 10
49.7%
of the value
Est. gain
−$309.9M
on stocks held all quarter
Est. return
−6.1%
on those stocks since Q4 2024
Positions as of Mar 31, 2025, 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 2024. Striped tiles are options.
Largest buys
Since Q4 2024, 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.
- Kenvue Inc~$213.4MNew · 0.0% → 3.3%+8,900,000 shares
- SPDR S&P 500 ETF TrPUT~$184.5MNew · 0.0% → 2.8%+330,000 underlying
- Nvidia~$157.2MNew · 0.0% → 2.4%+1,450,000 shares
- Costar Group Inc~$156.5MNew · 0.0% → 2.4%+1,975,000 shares
- United States Stl Corp New~$153.2MNew · 0.0% → 2.3%+3,625,000 shares
- Apollo Global Mgmt Inc~$150.6MAdded · 0.9% → 3.1%+1,100,000 shares
- Caseys Gen Stores Inc~$130.2MNew · 0.0% → 2.0%+300,000 shares
- Talen Energy Corp~$116.8MNew · 0.0% → 1.8%+585,000 shares
- AT&T~$105.6MNew · 0.0% → 1.6%+3,775,000 shares
- Rb Global Inc~$95.3MNew · 0.0% → 1.5%+950,000 shares
Largest sells
Since Q4 2024, 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.
- Danaher Corporation~$436.1MSold out · 5.9% → 0.0%−1,900,000 shares
- Meta~$389.4MSold out · 5.2% → 0.0%−665,000 shares
- Amazon~$209.3MCut · 10.2% → 6.8%−1,100,000 shares
- Ferguson Enterprises Inc~$208.3MSold out · 2.8% → 0.0%−1,200,000 shares
- Tesla~$201.9MSold out · 2.7% → 0.0%−500,000 shares
- Thermo Fisher Scientific Inc~$182.1MSold out · 2.4% → 0.0%−350,000 shares
- Intercontinental Exchange In~$169.9MCut · 4.2% → 2.9%−985,000 shares
- Workday~$129.0MSold out · 1.7% → 0.0%−500,000 shares
- Cinemark Hldgs Inc~$116.2MSold out · 1.6% → 0.0%−3,750,000 shares
- Microsoft~$107.0MCut · 3.4% → 1.8%−285,000 shares
Holdings
As of Mar 31, 2025. Changes are in shares against Dec 31, 2024, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pg&E CorpCOM · shares +5.4% · price −14.9% | 13.4% | $877.9M | −$145.5M | ||||||||
| AmazonCOM · shares −32% · price −13.3% | 6.8% | $447.1M | −$68.5M | ||||||||
| TSMCSPONSORED ADS · shares 0% · price −15.9% | 4.5% | $295.5M | −$56.1M | ||||||||
| Live Nation Entertainment InCOM · shares +22% · price +0.8% | 4.2% | $274.2M | +$1.9M | ||||||||
| Telephone & Data Sys IncCOM NEW · shares +13% · price +13.6% | 4.0% | $261.9M | +$27.8M | ||||||||
| Crh PlcORD · shares 0% · price −4.9% | 3.6% | $238.8M | −$12.4M | ||||||||
| Brookfield CorpCL A LTD VT SH · shares −15% · price −8.8% | 3.4% | $222.2M | −$21.4M | ||||||||
| Flutter Entmt PlcSHS · shares +11% · price −14.3% | 3.3% | $214.9M | −$32.1M | ||||||||
| Kenvue IncCOM · shares New | 3.3% | $213.4M | — | ||||||||
| Corpay IncCOM SHS · shares 0% · price +3.0% | 3.2% | $212.7M | +$6.3M | ||||||||
| Apollo Global Mgmt IncCOM · shares +275% · price −17.1% | 3.1% | $205.4M | −$11.3M | ||||||||
| Lpl Finl Hldgs IncCOM · shares −4.6% · price +0.2% | 3.1% | $204.5M | +$393,750 | ||||||||
| Intercontinental Exchange InCOM · shares −47% · price +15.8% | 2.9% | $189.8M | +$25.8M | ||||||||
| Capital One Finl CorpCOM · shares +14% · price +0.5% | 2.9% | $188.3M | +$906,500 | ||||||||
| SPDR S&P 500 ETF TrPUTPUT · shares New | 2.8% | $184.5M | — | ||||||||
| Jacobs Solutions IncCOM · shares −15% · price −9.5% | 2.6% | $169.2M | −$17.8M | ||||||||
| Carpenter Technology CorpCOM · shares 0% · price +6.8% | 2.4% | $157.6M | +$10.0M | ||||||||
| Eqt CorpCOM · shares 0% · price +15.9% | 2.4% | $157.6M | +$21.6M | ||||||||
| NvidiaCOM · shares New | 2.4% | $157.2M | — | ||||||||
| Costar Group IncCOM · shares New | 2.4% | $156.5M | — | ||||||||
| United States Stl Corp NewCOM · shares New | 2.3% | $153.2M | — | ||||||||
| Fortive CorpCOM · shares 0% · price −2.4% | 2.1% | $139.0M | −$3.5M | ||||||||
| Caseys Gen Stores IncCOM · shares New | 2.0% | $130.2M | — | ||||||||
| Discover Finl SvcsCOM · shares +16% · price −1.5% | 1.9% | $126.3M | −$1.6M | ||||||||
| MicrosoftCOM · shares −48% · price −10.9% | 1.8% | $118.2M | −$14.5M | ||||||||
| Total · 45 positions | 100% | $6.55B | −$309.9M |
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 2024 to Q1 2025: 33 stocks held throughout, down $309.9M (−6.1%).
- Telephone & Data Sys Inc+$27.8M+14%
- Intercontinental Exchange In+$25.8M+16%
- Eqt Corp+$21.6M+16%
- Hess Corp+$16.7M+20%
- Primo Brands Corporation+$11.3M+15%
- Brookfield Corp−$21.4M−9%
- Flutter Entmt Plc−$32.1M−14%
- TSMC−$56.1M−16%
- Amazon−$68.5M−13%
- Pg&E Corp−$145.5M−15%
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 ↗ |