13F filer · CIK 1040273 ↗
Third Point
You are looking at Q2 2025. See the latest, Q2 2026 →
Reported value
$7.62B
+16% on the quarter before
Positions
51
16 new · 10 sold out
Top 10
50.4%
of the value
Est. gain
+$485.6M
on stocks held all quarter
Est. return
+9.0%
on those stocks since Q1 2025
Positions as of Jun 30, 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 Q1 2025. Striped tiles are options.
Largest buys
Since Q1 2025, 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.
- Nvidia~$213.3MAdded · 2.4% → 5.8%+1,350,000 shares
- Capital One Finl Corp~$160.5MAdded · 2.9% → 5.0%+754,204 shares
- Mr Cooper Group Inc~$138.0MNew · 0.0% → 1.8%+925,000 shares
- Meta~$110.7MNew · 0.0% → 1.5%+150,000 shares
- Comfort Systems USA~$99.2MNew · 0.0% → 1.3%+185,000 shares
- Danaher Corporation~$98.8MNew · 0.0% → 1.3%+500,000 shares
- Costar Group Inc~$89.2MAdded · 2.4% → 3.3%+1,110,000 shares
- Primo Brands Corporation~$88.9MAdded · 1.5% → 2.2%+3,000,000 shares
- Amazon~$79.0MAdded · 6.8% → 7.8%+360,000 shares
- Vistra~$77.5MAdded · 1.5% → 3.2%+400,000 shares
Largest sells
Since Q1 2025, 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.
- SPDR S&P 500 ETF TrPUT~$184.5MSold out · 2.8% → 0.0%−330,000 underlying
- Eqt Corp~$157.6MSold out · 2.4% → 0.0%−2,950,000 shares
- United States Stl Corp New~$153.2MSold out · 2.3% → 0.0%−3,625,000 shares
- Discover Finl Svcs~$126.3MSold out · 1.9% → 0.0%−740,000 shares
- AT&T~$105.6MSold out · 1.6% → 0.0%−3,775,000 shares
- Hess Corp~$99.8MSold out · 1.5% → 0.0%−625,000 shares
- TSMC~$79.3MCut · 4.5% → 4.3%−350,000 shares
- Fortive Corp~$38.6MCut · 2.1% → 0.8%−740,000 shares
- Carpenter Technology Corp~$33.2MCut · 2.4% → 2.7%−120,000 shares
- Apollo Global Mgmt Inc~$31.9MCut · 3.1% → 2.4%−225,000 shares
Holdings
As of Jun 30, 2025. Changes are in shares against Mar 31, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Pg&E CorpCOM · shares 0% · price −18.9% | 9.3% | $712.3M | −$165.6M | ||||||||
| AmazonCOM · shares +15% · price +15.3% | 7.8% | $594.5M | +$68.5M | ||||||||
| NvidiaCOM · shares +93% · price +45.8% | 5.8% | $442.4M | +$71.9M | ||||||||
| Capital One Finl CorpCOM · shares +72% · price +18.7% | 5.0% | $383.9M | +$35.1M | ||||||||
| TSMCSPONSORED ADS · shares −20% · price +36.4% | 4.3% | $323.9M | +$86.5M | ||||||||
| Flutter Entmt PlcSHS · shares +10% · price +29.0% | 4.0% | $305.8M | +$62.3M | ||||||||
| Live Nation Entertainment InCOM · shares −6.0% · price +15.9% | 3.9% | $298.8M | +$40.9M | ||||||||
| Brookfield CorpCL A LTD VT SH · shares +10% · price +18.0% | 3.8% | $289.1M | +$40.0M | ||||||||
| Costar Group IncCOM · shares +56% · price +1.5% | 3.3% | $248.0M | +$2.3M | ||||||||
| VistraCOM · shares +47% · price +65.0% | 3.2% | $242.3M | +$64.9M | ||||||||
| Telephone & Data Sys IncCOM NEW · shares −0.5% · price −8.2% | 3.1% | $239.3M | −$21.3M | ||||||||
| Crh PlcORD · shares −4.6% · price +4.4% | 3.1% | $237.8M | +$9.9M | ||||||||
| Lpl Finl Hldgs IncCOM · shares 0% · price +14.6% | 3.1% | $234.4M | +$29.9M | ||||||||
| Talen Energy CorpCOM · shares +34% · price +45.6% | 3.0% | $228.3M | +$53.3M | ||||||||
| Corpay IncCOM SHS · shares +12% · price −4.8% | 3.0% | $227.3M | −$10.3M | ||||||||
| Carpenter Technology CorpCOM · shares −14% · price +52.5% | 2.7% | $207.3M | +$71.4M | ||||||||
| MicrosoftCOM · shares +27% · price +32.5% | 2.6% | $199.0M | +$38.4M | ||||||||
| Caseys Gen Stores IncCOM · shares +20% · price +17.6% | 2.4% | $183.7M | +$22.9M | ||||||||
| Apollo Global Mgmt IncCOM · shares −15% · price +3.6% | 2.4% | $180.9M | +$6.3M | ||||||||
| Kenvue IncCOM · shares −4.2% · price −12.7% | 2.3% | $178.4M | −$26.0M | ||||||||
| Intercontinental Exchange InCOM · shares −14% · price +6.4% | 2.3% | $174.3M | +$10.4M | ||||||||
| Primo Brands CorporationCLASS A COM SHS · shares +108% · price −16.5% | 2.2% | $171.1M | −$16.3M | ||||||||
| Jacobs Solutions IncCOM · shares −9.7% · price +8.7% | 2.2% | $166.2M | +$13.3M | ||||||||
| Mr Cooper Group IncCOM · shares New | 1.8% | $138.0M | — | ||||||||
| Sharkninja IncCOM SHS · shares +118% · price +18.7% | 1.6% | $118.8M | +$8.6M | ||||||||
| Total · 51 positions | 100% | $7.62B | +$485.6M |
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 Q1 2025 to Q2 2025: 34 stocks held throughout, up $485.6M (+9.0%).
- TSMC+$86.5M+36%
- Nvidia+$71.9M+46%
- Carpenter Technology Corp+$71.4M+53%
- Amazon+$68.5M+15%
- Vistra+$64.9M+65%
- Primo Brands Corporation−$16.3M−17%
- Telephone & Data Sys Inc−$21.3M−8%
- Fortive Corp−$24.4M−29%
- Kenvue Inc−$26.0M−13%
- Pg&E Corp−$165.6M−19%
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 ↗ |