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Third Point LLC

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13F filer, CIK 1040273, NEW YORK, NY

Third Point LLC reported $8,989,033,614 across 46 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 53.2% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001040273-25-000003

Period
2025-09-30
Reported value
$8.99B
Holdings
46
Top 10 weight
53.2%
New
11
Sold out
16

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NSCnew+1,650,000$496M
MSFTadded+700,000$363M
SGInew+3,000,000$253M
UNPnew+875,000$207M
MTZnew+725,000$154M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CPAYexited-685,000-$227M
TLNreduced-435,000-$185M
ICEexited-950,000-$174M
LYVreduced-625,000-$102M
TSMreduced-330,000-$92.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001040273-25-000003, largest first. % of portfolio is the value over $8,381,781,114, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PCGPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,750,000 shares; 2024Q4: 48,500,000 shares; 2025Q1: 51,100,000 shares; 2025Q2: 51,100,000 shares; 2025Q3: 50,100,000 shares 50,100,000$756M9.01%-1,000,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,700,000 shares; 2024Q4: 3,450,000 shares; 2025Q1: 2,350,000 shares; 2025Q2: 2,710,000 shares; 2025Q3: 2,810,000 shares 2,810,000$617M7.36%+100,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 870,000 shares; 2024Q4: 600,000 shares; 2025Q1: 315,000 shares; 2025Q2: 400,000 shares; 2025Q3: 1,100,000 shares 1,100,000$570M6.8%+700,000Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,450,000 shares; 2025Q2: 2,800,000 shares; 2025Q3: 2,850,000 shares 2,850,000$532M6.34%+50,000Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,650,000 shares 1,650,000$496M5.91%newTimeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,725,000 shares; 2024Q4: 4,990,000 shares; 2025Q1: 4,240,000 shares; 2025Q2: 4,675,000 shares; 2025Q3: 4,675,000 shares 4,675,000$321M3.83%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,780,000 shares; 2024Q4: 1,780,000 shares; 2025Q1: 1,780,000 shares; 2025Q2: 1,430,000 shares; 2025Q3: 1,100,000 shares 1,100,000$307M3.67%-330,000Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 925,000 shares; 2025Q1: 1,050,000 shares; 2025Q2: 1,804,204 shares; 2025Q3: 1,385,000 shares 1,385,000$294M3.51%-419,204Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 510,000 shares; 2024Q4: 870,000 shares; 2025Q1: 970,000 shares; 2025Q2: 1,070,000 shares; 2025Q3: 1,120,000 shares 1,120,000$284M3.39%+50,000Timeline
CASYCASEYS GEN STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 300,000 shares; 2025Q2: 360,000 shares; 2025Q3: 500,000 shares 500,000$283M3.37%+140,000Timeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,875,000 shares; 2024Q4: 6,000,000 shares; 2025Q1: 6,760,000 shares; 2025Q2: 6,725,000 shares; 2025Q3: 6,707,274 shares 6,707,274$263M3.14%-17,726Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,050,000 shares; 2024Q4: 2,715,000 shares; 2025Q1: 2,715,000 shares; 2025Q2: 2,590,000 shares; 2025Q3: 2,165,000 shares 2,165,000$260M3.1%-425,000Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,975,000 shares; 2025Q2: 3,085,000 shares; 2025Q3: 3,017,000 shares 3,017,000$255M3.04%-68,000Timeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,000,000 shares 3,000,000$253M3.02%newTimeline
LYVLIVE NATION ENTERTAINMENT INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,340,000 shares; 2024Q4: 1,720,000 shares; 2025Q1: 2,100,000 shares; 2025Q2: 1,975,000 shares; 2025Q3: 1,350,000 shares 1,350,000$221M2.63%-625,000Timeline
CRSCARPENTER TECHNOLOGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 660,000 shares; 2024Q4: 870,000 shares; 2025Q1: 870,000 shares; 2025Q2: 750,000 shares; 2025Q3: 850,000 shares 850,000$209M2.49%+100,000Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 875,000 shares 875,000$207M2.47%newTimeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 485,000 shares; 2024Q4: 655,000 shares; 2025Q1: 625,000 shares; 2025Q2: 625,000 shares; 2025Q3: 594,143 shares 594,143$198M2.36%-30,857Timeline
MR COOPER GROUP INCMR COOPER GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 925,000 shares; 2025Q3: 925,000 shares 925,000$195M2.33%0
SNSHARKNINJA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 550,000 shares; 2025Q2: 1,200,000 shares; 2025Q3: 1,800,000 shares 1,800,000$186M2.22%+600,000Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,175,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 850,000 shares; 2025Q2: 1,250,000 shares; 2025Q3: 935,000 shares 935,000$183M2.19%-315,000Timeline
FIXCOMFORT SYS USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 185,000 shares; 2025Q3: 200,000 shares 200,000$165M1.97%+15,000Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 545,000 shares; 2024Q4: 665,000 shares; 2025Q1: not reported; 2025Q2: 150,000 shares; 2025Q3: 220,000 shares 220,000$162M1.93%+70,000Timeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 725,000 shares 725,000$154M1.84%newTimeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 585,000 shares; 2025Q2: 785,000 shares; 2025Q3: 350,000 shares 350,000$149M1.78%-435,000Timeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 8,900,000 shares; 2025Q2: 8,525,000 shares; 2025Q3: 9,000,000 shares 9,000,000$146M1.74%+475,000Timeline
JJACOBS SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,650,000 shares; 2024Q4: 1,650,000 shares; 2025Q1: 1,400,000 shares; 2025Q2: 1,264,000 shares; 2025Q3: 915,000 shares 915,000$137M1.64%-349,000Timeline
PRMBPRIMO BRANDS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,400,000 shares; 2025Q1: 2,775,000 shares; 2025Q2: 5,775,000 shares; 2025Q3: 5,775,000 shares 5,775,000$128M1.52%0Timeline
FNDFLOOR & DECOR HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,330,000 shares 1,330,000$98M1.17%newTimeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 950,000 shares; 2024Q4: 400,000 shares; 2025Q1: 1,500,000 shares; 2025Q2: 1,275,000 shares; 2025Q3: 650,000 shares 650,000$86.6M1.03%-625,000Timeline
RKTROCKET COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,750,000 shares; 2025Q3: 4,000,000 shares 4,000,000$77.5M0.92%-750,000Timeline
APOLLO GLOBAL MGMT INCAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 900,000 shares; 2024Q4: 900,000 shares; 2025Q1: 900,000 shares; 2025Q2: 900,000 shares; 2025Q3: 900,000 shares 900,000$63.3M0.75%0
CORZCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,000,000 shares 3,000,000$53.8M0.64%newTimeline
SRTASTRATA CRITICAL MEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,000,000 shares 5,000,000$25.3M0.3%newTimeline
HTZWWHERTZ GLOBAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,970,000 shares; 2024Q4: 3,970,000 shares; 2025Q1: 3,970,000 shares; 2025Q2: 3,970,000 shares; 2025Q3: 3,970,000 shares 3,970,000$14.8M0.18%0Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,950,000 shares; 2024Q4: 1,900,000 shares; 2025Q1: not reported; 2025Q2: 500,000 shares; 2025Q3: 50,000 shares 50,000$9.91M0.12%-450,000Timeline
PG&E CORPPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 140,000 shares; 2025Q1: 140,000 shares; 2025Q2: 140,000 shares; 2025Q3: 140,000 shares 140,000$5.51M0.07%0
FLYXFLYEXCLUSIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,022,000 shares; 2024Q4: 1,022,000 shares; 2025Q1: 1,022,000 shares; 2025Q2: 1,022,000 shares; 2025Q3: 1,022,000 shares 1,022,000$5.05M0.06%0Timeline
AURAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,032,463 shares; 2024Q4: 1,032,463 shares; 2025Q1: 1,032,463 shares; 2025Q2: 1,032,463 shares; 2025Q3: 1,032,463 shares 1,032,463$2.17M0.03%0Timeline
AUROWAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,835,000 shares; 2024Q4: 1,835,000 shares; 2025Q1: 1,835,000 shares; 2025Q2: 1,835,000 shares; 2025Q3: 1,835,000 shares 1,835,000$877K0.01%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$645K0.01%newTimeline
CYHCOMMUNITY HEALTH SYS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 150,000 shares 150,000$482K0.01%newTimeline
FLYEXCLUSIVE INCFLYEXCLUSIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 367,499 shares; 2024Q4: 367,499 shares; 2025Q1: 367,499 shares; 2025Q2: 367,499 shares; 2025Q3: 367,499 shares 367,499$117K<0.01%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SPYSTATE STR SPDR S&P 500 ETF T SHSput875,000$583Mnew
KVUEKENVUE INC COMcall1,500,000$24.3Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
PG&E CORPPG&E CORP NOTE 4.250%12/0principal10,000,000$10.1M0

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CPAYCORPAY INC685,000$227Mshares
ICEINTERCONTINENTAL EXCHANGE IN950,000$174Mshares
RBARB GLOBAL INC695,000$73.8Mshares
WDAYWORKDAY INC300,000$72Mshares
FLSFLOWSERVE CORP1,195,000$62.6Mshares
FTVFORTIVE CORP1,160,000$60.5Mshares
DOCUDOCUSIGN INC625,000$48.7Mshares
SOHO HOUSE & CO INCSOHO HOUSE & CO INC5,171,676$38Mshares
GTLSCHART INDS INC215,000$35.4Mshares
SESEA LTD50,000$8Mshares
RALRALLIANT CORP125,003$6.06Mshares
SABRSABRE CORP750,000$2.37Mshares
TTANSERVICETITAN INC15,000$1.61Mshares
CTEVCLARITEV CORPORATION30,000$1.35Mshares
ASICATEGRITY SPECIALTY IN CO HO50,000$1.08Mshares
ARDTARDENT HEALTH INC75,000$1.02Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001040273-25-000003 base2025-11-14acceptance time not in the bulk data set