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Third Point LLC

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13F filer, CIK 1040273, NEW YORK, NY

Third Point LLC reported $7,274,621,868 across 44 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 54.09% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001040273-26-000001

Period
2025-12-31
Reported value
$7.27B
Holdings
44
Top 10 weight
54.09%
New
11
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UNPadded+935,000$216M
CMGnew+4,725,000$175M
CEGnew+475,000$168M
DHRadded+550,000$126M
BABAnew+825,000$121M

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
FLUTexited-1,120,000-$284M
PCGreduced-15,800,000-$254M
TSMreduced-675,000-$205M
MR COOPER GROUP INCexited-925,000-$195M
NSCreduced-675,000-$195M

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, Q4 2025

Share positions as resolved from 13F-HR 0001040273-26-000001, largest first. % of portfolio is the value over $7,274,621,868, 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; 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; 2025Q4: 34,300,000 shares 34,300,000$551M7.58%-15,800,000Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,950,000 shares 2,950,000$550M7.56%+100,000Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,165,000 shares 2,165,000$500M6.87%-645,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 925,000 shares 925,000$447M6.15%-175,000Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 875,000 shares; 2025Q4: 1,810,000 shares 1,810,000$419M5.76%+935,000Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,600,000 shares 2,600,000$324M4.46%+435,000Timeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,000,000 shares; 2025Q4: 3,400,000 shares 3,400,000$304M4.17%+400,000Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,200,000 shares 6,200,000$285M3.91%+1,525,000Timeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,650,000 shares; 2025Q4: 975,000 shares 975,000$282M3.87%-675,000Timeline
TDSTELEPHONE & DATA SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,675,000 shares 6,675,000$274M3.76%-32,274Timeline
COFCAPITAL ONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,100,000 shares 1,100,000$267M3.66%-285,000Timeline
CASYCASEYS GEN STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 300,000 shares; 2025Q2: 360,000 shares; 2025Q3: 500,000 shares; 2025Q4: 455,000 shares 455,000$251M3.46%-45,000Timeline
CRSCARPENTER TECHNOLOGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 660,000 shares; 2024Q4: 870,000 shares; 2025Q1: 870,000 shares; 2025Q2: 750,000 shares; 2025Q3: 850,000 shares; 2025Q4: 785,000 shares 785,000$247M3.4%-65,000Timeline
LYVLIVE NATION ENTERTAINMENT INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,725,000 shares 1,725,000$246M3.38%+375,000Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,165,000 shares 3,165,000$213M2.93%+148,000Timeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 725,000 shares; 2025Q4: 925,000 shares 925,000$201M2.76%+200,000Timeline
RKTROCKET COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,750,000 shares; 2025Q3: 4,000,000 shares; 2025Q4: 9,515,000 shares 9,515,000$184M2.53%+5,515,000Timeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 485,000 shares; 2024Q4: 655,000 shares; 2025Q1: 625,000 shares; 2025Q2: 625,000 shares; 2025Q3: 594,143 shares; 2025Q4: 510,000 shares 510,000$182M2.5%-84,143Timeline
CMGCHIPOTLE MEXICAN GRILL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 4,725,000 shares 4,725,000$175M2.4%newTimeline
CEGCONSTELLATION ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 475,000 shares 475,000$168M2.31%newTimeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,005,000 shares 1,005,000$162M2.23%+70,000Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 600,000 shares 600,000$137M1.89%+550,000Timeline
SNSHARKNINJA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 550,000 shares; 2025Q2: 1,200,000 shares; 2025Q3: 1,800,000 shares; 2025Q4: 1,200,000 shares 1,200,000$134M1.85%-600,000Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 425,000 shares 425,000$129M1.78%-675,000Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 825,000 shares 825,000$121M1.66%newTimeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,000,000 shares 3,000,000$115M1.58%newTimeline
FIXCOMFORT SYS USA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 185,000 shares; 2025Q3: 200,000 shares; 2025Q4: 105,000 shares 105,000$98M1.35%-95,000Timeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 100,000 shares 100,000$58.1M0.8%newTimeline
KVUEKENVUE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,250,000 shares 3,250,000$56.1M0.77%-5,750,000Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 220,000 shares 220,000$50.1M0.69%newTimeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 350,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$29M0.4%newTimeline
SRTASTRATA CRITICAL MEDICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,000,000 shares; 2025Q4: 5,000,000 shares 5,000,000$24.1M0.33%0Timeline
WIXWIX COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 225,000 shares 225,000$23.4M0.32%newTimeline
CSXCSX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 500,000 shares 500,000$18.1M0.25%newTimeline
HTZWWHERTZ GLOBAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,970,000 shares 3,970,000$10.6M0.15%0Timeline
SPRYARS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 556,237 shares 556,237$6.48M0.09%newTimeline
CTEVCLARITEV CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 30,000 shares; 2025Q3: not reported; 2025Q4: 145,000 shares 145,000$6.2M0.09%newTimeline
PG&E CORPPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 140,000 shares; 2025Q1: 140,000 shares; 2025Q2: 140,000 shares; 2025Q3: 140,000 shares; 2025Q4: 140,000 shares 140,000$5.74M0.08%0
FLYXFLYEXCLUSIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,022,000 shares 1,022,000$4.2M0.06%0Timeline
AURAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,032,463 shares 1,032,463$3.96M0.05%0Timeline
BHCBAUSCH HEALTH COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares; 2025Q4: 350,000 shares 350,000$2.43M0.03%+250,000Timeline
AUROWAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,835,000 shares 1,835,000$413K0.01%0Timeline
FLYEXCLUSIVE INCFLYEXCLUSIVE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 367,499 shares; 2024Q4: 367,499 shares; 2025Q1: 367,499 shares; 2025Q2: 367,499 shares; 2025Q3: 367,499 shares; 2025Q4: 367,499 shares 367,499$105K<0.01%0

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$10.3M0

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
SPYSTATE STR SPDR S&P 500 ETF T875,000$583Mput
FLUTFLUTTER ENTMT PLC1,120,000$284Mshares
MR COOPER GROUP INCMR COOPER GROUP INC925,000$195Mshares
METAMETA PLATFORMS INC220,000$162Mshares
TLNTALEN ENERGY CORP350,000$149Mshares
JJACOBS SOLUTIONS INC915,000$137Mshares
PRMBPRIMO BRANDS CORPORATION5,775,000$128Mshares
FNDFLOOR & DECOR HLDGS INC1,330,000$98Mshares
APOAPOLLO GLOBAL MGMT INC650,000$86.6Mshares
APOLLO GLOBAL MGMT INCAPOLLO GLOBAL MGMT INC900,000$63.3Mshares
CORZCORE SCIENTIFIC INC NEW3,000,000$53.8Mshares
KVUEKENVUE INC1,500,000$24.3Mcall
CYHCOMMUNITY HEALTH SYS INC NEW150,000$482Kshares

How Q4 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 0001040273-26-000001 base2026-02-17acceptance time not in the bulk data set