Third Point LLC
Third Point LLC is a leading New York-based hedge fund founded in 1995 by Daniel S. Loeb. The firm operates as an employee-owned, SEC-registered investment advisor, with a global reach and additional offices in Sunnyvale and Los Angeles, CA; Stamford, CT; Bangalore; Hong Kong; and London. Third Point primarily serves institutional investors and high net worth individuals, managing diversified funds focused on public equities, fixed income, private credit, and venture capital. The firm is known for its event-driven opportunism and activism, with returns historically averaging around 19% annually. It acquired Birch Grove in 2024 to bolster its credit platform, now managing approximately $21 billion in assets and employing around 170 people.
Investment Strategy
Third Point LLC employs an opportunistic, event-driven investment strategy spanning public market equities, corporate and structured credit, CLOs, and venture capital. The firm actively invests in companies undergoing change, such as spinoffs or bankruptcies, and frequently engages in shareholder activism to drive operational improvements and unlock value. In recent years, Third Point has expanded its platform to include substantial allocations to private and structured credit, serving both insurance and institutional clients. It manages exposures dynamically, pursuing fundamental and special situation equities (both long and short), and aims to identify and catalyze events (e.g. mergers, restructurings) that will unlock value. The venture arm seeks early-stage opportunities where the firm can assist with scaling and capital market readiness.
Top Holdings
Equity Positions (48)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PCG | PG&E CORP | 9.35% | $712.3M | 51,100,000 | $10.26 | $13.94 | -$165.6M |
A AMZN | AMAZON COM INC | 7.80% | $594.5M | 2,710,000 | $149.64 | $219.39 | +$147.4M |
N NVDA | NVIDIA CORPORATION | 5.81% | $442.4M | 2,800,000 | $132.30 | $157.99 | +$285.2M |
C COF | CAPITAL ONE FINL CORP | 5.04% | $383.9M | 1,804,204 | $192.78 | $212.76 | +$195.6M |
T TSM | TAIWAN SEMICONDUCTOR MFG LTD | 4.25% | $323.9M | 1,430,000 | $130.89 | $226.49 | +$28.4M |