Third Point LLC 13F: Quarter-over-Quarter Portfolio Changes
Third Point LLC reported a disclosed portfolio value of approximately $2.1 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 71.4% quarter on quarter. Over the quarter, the fund initiated 10 new positions, bought more shares in 1 holding, trimmed 16 holdings, and exited 21 positions.
Third Point LLC's top buy was a new stake in Meta Platforms INC (META) , equal to 2.5% of the disclosed portfolio. Its top sell was Pg&e CORP (PCG) . The fund exited the position completely after it had accounted for 7.6% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| META PLATFORMS INC | META | 2.5% | Holders → |
| ALPHABET CL A | GOOGL | 2.4% | Holders → |
| SPDR GOLD TR | GLD | 2.0% | Holders → |
| HUT 8 CORP | HUT | 2.0% | Holders → |
| TRANSDIGM GROUP INC | TDG | 1.4% | Holders → |
| KLA | KLAC | 0.8% | Holders → |
| LAM RESEARCH CORP | LRCX | 0.8% | Holders → |
| ASML HLDG NV | ASML | 0.8% | Holders → |
| BROADCOM | AVGO | 0.7% | Holders → |
| VANECK ETF TRUST | SMH | 0.7% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| ARS PHARMACEUTICALS INC | SPRY | +0.3% | +79.8% | Holders → |
Top SellsQ1 2026
Showing the top 10 sells among 16 existing positions where the fund sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| UNION PACIFIC | UNP | -4.6% | 94.5% | Holders → |
| NVIDIA CORPORATION COM | NVDA | -6.0% | 93.6% | Holders → |
| NORFOLK SOUTHN CORP | NSC | -2.5% | 89.7% | Holders → |
| SHARKNINJA INC | SN | -1.2% | 89.1% | Holders → |
| CAPITAL ONE FINL CORP | COF | -2.4% | 87.3% | Holders → |
| LIVE NATION ENTERTAINMENT IN | LYV | 0.0% | 73.0% | History → |
| CLARITEV CORPORATION | CTEV | -0.1% | 69.7% | Holders → |
| MASTEC INC | MTZ | 2.2% | 65.4% | History → |
| CARPENTER TECHNOLOGY CORP | CRS | 2.5% | 60.5% | History → |
| TAIWAN SEMIC-ADR | TSM | 2.7% | 35.3% | History → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| PG&E CORP | PCG | 7.6% |
| MICROSOFT | MSFT | 6.1% |
| BROOKFIELD CORP | BN | 3.9% |
| CASEY'S GENERAL STORES | CASY | 3.5% |
| COSTAR GROUP INC | CSGP | 2.9% |
| ROCKET COS INC | RKT | 2.5% |
| LPL FINL HLDGS INC | LPLA | 2.5% |
| CHIPOTLE MEXICAN GRILL INC | CMG | 2.4% |
| CONSTELLATION ENERGY | CEG | 2.3% |
| VISTRA CORP | VST | 2.2% |
| ALIBABA GRP-ADR | BABA | 1.7% |
| COMFORT SYS USA INC | FIX | 1.3% |
| SPOTIFY TECHNOLOGY S A | SPOT | 0.8% |
| KENVUE INC | KVUE | 0.8% |
| PROGRESSIVE CORP | PGR | 0.7% |
| THERMO FISHER SCIENTIFIC INC | TMO | 0.4% |
| WIX COM LTD | WIX | 0.3% |
| CSX CORP | CSX | 0.2% |
| PG&E CORP | PCG 4.25 12/01/27 | 0.1% |
| PG&E CORP | PCG 6 12/01/27 A | 0.1% |
| BAUSCH HEALTH COS INC | BHC | 0.0% |
Net Portfolio Value ChangeQ1 2026
- $7.3BPrior quarter
- $2.1BCurrent quarter
- $-5.2BNet delta
- -71.4%% change
Methodology & FAQ
How Third Point LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Third Point LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Third Point LLC buy in Q1 2026?
In Q1 2026, Third Point LLC initiated 10 new positions (META PLATFORMS INC (META), ALPHABET CL A (GOOGL), SPDR GOLD TR (GLD), HUT 8 CORP (HUT), TRANSDIGM GROUP INC (TDG), KLA (KLAC), LAM RESEARCH CORP (LRCX), ASML HLDG NV (ASML), BROADCOM (AVGO), VANECK ETF TRUST (SMH)); bought more shares of ARS PHARMACEUTICALS INC (SPRY).
What stocks did Third Point LLC sell in Q1 2026?
In Q1 2026, Third Point LLC fully sold 21 positions (PG&E CORP (PCG), MICROSOFT (MSFT), BROOKFIELD CORP (BN), CASEY'S GENERAL STORES (CASY), COSTAR GROUP INC (CSGP), ROCKET COS INC (RKT), LPL FINL HLDGS INC (LPLA), CHIPOTLE MEXICAN GRILL INC (CMG), CONSTELLATION ENERGY (CEG), VISTRA CORP (VST), ALIBABA GRP-ADR (BABA), COMFORT SYS USA INC (FIX), SPOTIFY TECHNOLOGY S A (SPOT), KENVUE INC (KVUE), PROGRESSIVE CORP (PGR), THERMO FISHER SCIENTIFIC INC (TMO), WIX COM LTD (WIX), CSX CORP (CSX), PG&E CORP (PCG 4.25 12/01/27), PG&E CORP (PCG 6 12/01/27 A), BAUSCH HEALTH COS INC (BHC)); reduced holdings in UNION PACIFIC (UNP), NVIDIA CORPORATION COM (NVDA), NORFOLK SOUTHN CORP (NSC), SHARKNINJA INC (SN), CAPITAL ONE FINL CORP (COF) — the largest 5 of 16 reductions.
Which positions did Third Point LLC initiate in Q1 2026?
Third Point LLC established 10 new positions in Q1 2026: META PLATFORMS INC (META, 2.5%), ALPHABET CL A (GOOGL, 2.4%), SPDR GOLD TR (GLD, 2.0%), HUT 8 CORP (HUT, 2.0%), TRANSDIGM GROUP INC (TDG, 1.4%), KLA (KLAC, 0.8%), LAM RESEARCH CORP (LRCX, 0.8%), ASML HLDG NV (ASML, 0.8%), BROADCOM (AVGO, 0.7%), VANECK ETF TRUST (SMH, 0.7%).
Which existing positions saw the largest allocation increases for Third Point LLC in Q1 2026?
Of 1 existing position with share-count increases in Q1 2026, the largest were: ARS PHARMACEUTICALS INC (SPRY, +0.3% weight, +79.8% shares).
Which positions did Third Point LLC fully exit in Q1 2026?
Third Point LLC fully exited 21 positions in Q1 2026: PG&E CORP (PCG, last-reported weight 7.6%), MICROSOFT (MSFT, last-reported weight 6.1%), BROOKFIELD CORP (BN, last-reported weight 3.9%), CASEY'S GENERAL STORES (CASY, last-reported weight 3.5%), COSTAR GROUP INC (CSGP, last-reported weight 2.9%), ROCKET COS INC (RKT, last-reported weight 2.5%), LPL FINL HLDGS INC (LPLA, last-reported weight 2.5%), CHIPOTLE MEXICAN GRILL INC (CMG, last-reported weight 2.4%), CONSTELLATION ENERGY (CEG, last-reported weight 2.3%), VISTRA CORP (VST, last-reported weight 2.2%), ALIBABA GRP-ADR (BABA, last-reported weight 1.7%), COMFORT SYS USA INC (FIX, last-reported weight 1.3%), SPOTIFY TECHNOLOGY S A (SPOT, last-reported weight 0.8%), KENVUE INC (KVUE, last-reported weight 0.8%), PROGRESSIVE CORP (PGR, last-reported weight 0.7%), THERMO FISHER SCIENTIFIC INC (TMO, last-reported weight 0.4%), WIX COM LTD (WIX, last-reported weight 0.3%), CSX CORP (CSX, last-reported weight 0.2%), PG&E CORP (PCG 4.25 12/01/27, last-reported weight 0.1%), PG&E CORP (PCG 6 12/01/27 A, last-reported weight 0.1%), BAUSCH HEALTH COS INC (BHC, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for Third Point LLC in Q1 2026?
Of 16 existing positions with share-count reductions in Q1 2026, the largest were: UNION PACIFIC (UNP, -4.6% weight, -94.5% shares), NVIDIA CORPORATION COM (NVDA, -6.0% weight, -93.6% shares), NORFOLK SOUTHN CORP (NSC, -2.5% weight, -89.7% shares), SHARKNINJA INC (SN, -1.2% weight, -89.1% shares), CAPITAL ONE FINL CORP (COF, -2.4% weight, -87.3% shares), LIVE NATION ENTERTAINMENT IN (LYV, 0.0% weight, -73.0% shares), CLARITEV CORPORATION (CTEV, -0.1% weight, -69.7% shares), MASTEC INC (MTZ, 2.2% weight, -65.4% shares), CARPENTER TECHNOLOGY CORP (CRS, 2.5% weight, -60.5% shares), TAIWAN SEMIC-ADR (TSM, 2.7% weight, -35.3% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.