Third Point 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Third Point disclosed 44 US equity positions worth $7.3bn in its Q4 2025 13F filing. The largest position was PCG at 7.6% of the reported book, followed by NVDA and AMZN. Against the Q3 2025 filing, it opened 11 new positions, added to 12 and reduced 12 among the top 44 holdings.
What did Third Point own in Q4 2025? Top 44 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | PCG PG&E CORP | Utilities | 7.6% | $551.2m | 34,300,000 | -32% | reduced |
| 2 | NVDA NVIDIA CORPORATION | Technology | 7.6% | $550.2m | 2,950,000 | 4% | added |
| 3 | AMZN AMAZON COM INC | Consumer Cyclical | 6.9% | $499.7m | 2,165,000 | -23% | reduced |
| 4 | MSFT MICROSOFT CORP | Technology | 6.1% | $447.3m | 925,000 | -16% | reduced |
| 5 | UNP UNION PAC CORP | Industrials | 5.8% | $418.7m | 1,810,000 | 107% | added |
| 6 | CRH CRH PLC | Basic Materials | 4.5% | $324.5m | 2,600,000 | 20% | added |
| 7 | SGI SOMNIGROUP INTERNATIONAL INC | Consumer Cyclical | 4.2% | $303.6m | 3,400,000 | 13% | added |
| 8 | BN BROOKFIELD CORP | Financial Services | 3.9% | $284.5m | 6,200,000 | 33% | added |
| 9 | NSC NORFOLK SOUTHN CORP | Industrials | 3.9% | $281.5m | 975,000 | -41% | reduced |
| 10 | TDS TELEPHONE & DATA SYS INC | Communication Services | 3.8% | $273.7m | 6,675,000 | -0% | held |
| 11 | COF CAPITAL ONE FINL CORP | Financial Services | 3.7% | $266.6m | 1,100,000 | -21% | reduced |
| 12 | CASY CASEYS GEN STORES INC | Consumer Cyclical | 3.5% | $251.5m | 455,000 | -9% | reduced |
| 13 | CRS CARPENTER TECHNOLOGY CORP | Industrials | 3.4% | $247.1m | 785,000 | -8% | reduced |
| 14 | LYV LIVE NATION ENTERTAINMENT IN | Communication Services | 3.4% | $245.8m | 1,725,000 | 28% | added |
| 15 | CSGP COSTAR GROUP INC | Real Estate | 2.9% | $212.8m | 3,165,000 | 5% | added |
| 16 | MTZ MASTEC INC | Industrials | 2.8% | $201.1m | 925,000 | 28% | added |
| 17 | RKT ROCKET COS INC | Financial Services | 2.5% | $184.2m | 9,515,000 | 138% | added |
| 18 | LPLA LPL FINL HLDGS INC | Financial Services | 2.5% | $182.2m | 510,000 | -14% | reduced |
| 19 | CMG CHIPOTLE MEXICAN GRILL INC | Consumer Cyclical | 2.4% | $174.8m | 4,725,000 | – | new |
| 20 | CEG CONSTELLATION ENERGY CORP | Utilities | 2.3% | $167.8m | 475,000 | – | new |
| 21 | VST VISTRA CORP | Utilities | 2.2% | $162.1m | 1,005,000 | 7% | added |
| 22 | DHR DANAHER CORPORATION | Healthcare | 1.9% | $137.4m | 600,000 | 1100% | added |
| 23 | SN SHARKNINJA INC | Consumer Cyclical | 1.8% | $134.3m | 1,200,000 | -33% | reduced |
| 24 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 1.8% | $129.2m | 425,000 | -61% | reduced |
| 25 | BABA ALIBABA GROUP HLDG LTD | Consumer Cyclical | 1.7% | $120.9m | 825,000 | – | new |
| 26 | APG API GROUP CORP | Industrials | 1.6% | $114.8m | 3,000,000 | – | new |
| 27 | FIX COMFORT SYS USA INC | Industrials | 1.3% | $98.0m | 105,000 | -48% | reduced |
| 28 | SPOT SPOTIFY TECHNOLOGY S A | Communication Services | 0.8% | $58.1m | 100,000 | – | new |
| 29 | KVUE KENVUE INC | Consumer Defensive | 0.8% | $56.1m | 3,250,000 | -64% | reduced |
| 30 | PGR PROGRESSIVE CORP | Financial Services | 0.7% | $50.1m | 220,000 | – | new |
| 31 | TMO THERMO FISHER SCIENTIFIC INC | Healthcare | 0.4% | $29.0m | 50,000 | – | new |
| 32 | SRTA STRATA CRITICAL MEDICAL INC | 0.3% | $24.1m | 5,000,000 | 0% | held | |
| 33 | WIX WIX COM LTD | Technology | 0.3% | $23.4m | 225,000 | – | new |
| 34 | CSX CSX CORP | Industrials | 0.2% | $18.1m | 500,000 | – | new |
| 35 | HERTZ GLOBAL HLDGS INC | 0.1% | $10.6m | 3,970,000 | 0% | held | |
| 36 | PG&E CORP | 0.1% | $10.3m | 10,000,000 | 0% | held | |
| 37 | SPRY ARS PHARMACEUTICALS INC | Healthcare | 0.1% | $6.5m | 556,237 | – | new |
| 38 | CTEV CLARITEV CORPORATION | 0.1% | $6.2m | 145,000 | – | new | |
| 39 | PG&E CORP | 0.1% | $5.7m | 140,000 | 0% | held | |
| 40 | FLYEXCLUSIVE INC | 0.1% | $4.2m | 1,022,000 | 0% | held | |
| 41 | AURORA INNOVATION INC | 0.1% | $4.0m | 1,032,463 | 0% | held | |
| 42 | BHC BAUSCH HEALTH COS INC | Healthcare | 0.0% | $2.4m | 350,000 | 250% | added |
| 43 | AURORA INNOVATION INC | 0.0% | $413.1k | 1,835,000 | 0% | held | |
| 44 | FLYEXCLUSIVE INC | 0.0% | $104.7k | 367,499 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.