Third Point

Q4 2020 13F · by Daniel Loeb, CIO

As of: Dec 31, 2020
Filed: Feb 8, 2021
US stock: $13.0B · prev $10.0B
Positions: 74 · prev 46
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves65 since the prior filing

+26.3 pp in · −22.3 pp out

New 37 +22.55 pp
Added 7 +3.72 pp
Trimmed 12 −16.99 pp
Exited 9 −5.34 pp

The book

Focused · behaves like 31 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 56% a year, about 1.8 years per position

Low
Moderate
High

Top 5 positions29% of US stock

PCG PG&E Corporation held held8.2%
DIS The Walt Disney Company trimmed+0.10 pp trimmed+0.106.7%
DHR Danaher Corporation held held5.1%
IAA-WUSD Iaa Inc trimmed−0.55 pp trimmed−0.555.0%
UPST Upstart Holdings, Inc. new+4.01 pp new+4.014.0%

Positions74 in this filing · 9 exited


PCGPG&E Corporation	8.16%	84,935,257	$1.1B	held	—	2 q
DISThe Walt Disney Company	6.70%	4,800,000	$870M	trimmed−9%	+0.10 pp	4 q
DHRDanaher Corporation	5.14%	3,000,000	$666M	held	—	22 q
IAA-WUSDIaa Inc	4.96%	9,900,000	$643M	trimmed−6%	−0.55 pp	5 q
UPSTUpstart Holdings, Inc.	4.01%	13,381,222	$520M	new	+4.01 pp	new
CHTRCharter Comm Inc Del CL A New	3.83%	750,000	$496M	held	—	4 q
AMZNAmazon.Com Inc	3.64%	145,000	$472M	trimmed−29%	−2.84 pp	5 q
GOOGLAlphabet Inc. Class A	3.51%	260,000	$456M	new	+3.51 pp	new
BURLBurlington Stores, Inc.	3.37%	1,670,000	$437M	held	—	7 q
INTUIntuit Inc	2.93%	1,000,000	$380M	added×3.3	+1.95 pp	3 q
VVISA Inc.	2.61%	1,550,000	$339M	held	—	11 q
BABAAlibaba Group Holding Limited	2.51%	1,400,000	$326M	trimmed−45%	−4.95 pp	3 q
IQVIQVIA Holdings Inc.	2.50%	1,810,400	$324M	held	—	10 q
AVTRAvantor, Inc.	2.39%	11,000,000	$310M	added×2.2	+1.26 pp	2 q
FISFidelity National Information Services, Inc.	2.33%	2,136,422	$302M	trimmed−33%	−2.40 pp	6 q
METAMeta Platforms, Inc. Class A	2.32%	1,100,000	$300M	trimmed−2%	−0.64 pp	3 q
TDGTransDigm Group Incorporated	2.31%	485,000	$300M	added+11%	+0.23 pp	2 q
JDJD.com, Inc.	2.30%	3,400,000	$299M	trimmed−24%	−1.17 pp	3 q
SPGIS&P Global Inc.	2.28%	900,000	$296M	added+16%	−0.53 pp	19 q
MSFTMicrosoft Corp	2.23%	1,300,000	$289M	added+18%	−0.09 pp	2 q
RACEFerrari N.V.	1.92%	1,085,000	$249M	held	—	5 q
ADBEAdobe Inc.	1.75%	455,000	$228M	trimmed−29%	−1.40 pp	12 q
CRMSalesforce, Inc.	1.54%	900,000	$200M	trimmed−37%	−2.06 pp	12 q
9991429DAptiv Irish Holdings Ltd	1.51%	1,500,000	$195M	new	+1.51 pp	new
0VQJLTe Connectivity Ltd	1.45%	1,550,000	$188M	held	—	4 q
PLNTPlanet Fitness, Inc.	1.38%	2,305,900	$179M	added×3.0	+0.90 pp	2 q
EXPEExpedia Group, Inc.	1.22%	1,200,000	$159M	trimmed−26%	−0.28 pp	2 q
BKIBlack Knight, Inc.	1.19%	1,750,000	$155M	held	—	3 q
SWKStanley Black & Decker, Inc.	1.13%	817,841	$146M	new	+1.13 pp	new
NKENike, Inc.	1.09%	1,000,000	$141M	new	+1.09 pp	new
CTLTCatalent, Inc.	0.98%	1,225,000	$127M	new	+0.98 pp	new
unresolvedLeslies Inc	0.96%	4,500,000	$125M	new	+0.96 pp	new
KMXCarMax Inc.	0.93%	1,275,000	$120M	new	+0.93 pp	new
unresolvedGlobal Blue Group Holding AG	0.91%	9,129,625	$119M	trimmed−12%	+0.18 pp	2 q
RHRh	0.89%	258,452	$116M	new	+0.89 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.87%	320,000	$112M	new	+0.87 pp	new
ETRNEquitrans Midstream Corporation	0.81%	13,000,000	$105M	held	—	3 q
PG&E Corpconvertible	0.76%	800,000	$98M	held	—	2 q
unresolvedJaws Acquisition Corp	0.59%	5,750,000	$77M	new	+0.59 pp	new
BFTFoley Trasimene Acquisiti-a	0.58%	5,000,000	$76M	new	+0.58 pp	new
ZZillow Group, Inc. Class C	0.55%	554,400	$72M	new	+0.55 pp	new
unresolvedContextlogic Inc	0.52%	3,853,050	$67M	new	+0.52 pp	new
PINSPinterest, Inc. Class A	0.51%	1,000,000	$66M	trimmed−72%	−0.98 pp	2 q
RADIGRadius Global Infrastructu-a	0.45%	4,500,000	$58M	new	+0.45 pp	new
PLTRPalantir Technologies Inc. Class A	0.42%	2,356,991	$54M	held	—	2 q
ELThe Estee Lauder Companies Inc. Class A	0.41%	200,000	$53M	new	+0.41 pp	new
INTCIntel Corp	0.38%	1,000,000	$50M	new	+0.38 pp	new
VNTVontier Corporation	0.31%	1,201,439	$40M	new	+0.31 pp	new
RTP.UReinvent Technology Partners	0.28%	3,000,000	$37M	held	—	2 q
unresolvedSocial Capital Hedosopha Hld	0.27%	2,750,000	$36M	new	+0.27 pp	new
unresolvedJaws Spitfire Acquisition Co	0.26%	3,000,000	$33M	new	+0.26 pp	new
unresolvedGo Acquisition Corp	0.25%	3,000,000	$32M	held	—	2 q
unresolvedAvanti Acquisition Corp	0.25%	3,000,000	$33M	new	+0.25 pp	new
KDMNKadmon Holdings, Inc.	0.24%	7,601,115	$32M	held	—	18 q
DASHDoorDash, Inc. Class A	0.22%	200,000	$29M	new	+0.22 pp	new
unresolvedCohn Robbins Holdings Corp	0.21%	2,500,000	$27M	held	—	2 q
IPOE.USocial Capital Hedosophia Ho	0.20%	2,000,000	$26M	new	+0.20 pp	new
DISHDISH Network Corp.	0.18%	712,300	$23M	new	+0.18 pp	new
unresolvedBluescape Opportunities Acqu	0.17%	2,000,000	$22M	new	+0.17 pp	new
unresolvedFar Peak Acquisition Corp	0.16%	2,000,000	$21M	new	+0.16 pp	new
BFAMBright Horizons Family Solutions Inc.	0.15%	114,975	$20M	new	+0.15 pp	new
unresolvedAltimeter Growth Corp	0.15%	1,500,000	$20M	new	+0.15 pp	new
unresolvedFirstmark Horizon Acquisitio	0.13%	1,500,000	$17M	new	+0.13 pp	new
unresolvedSocial Capital Hedosopha Hld	0.13%	1,150,000	$17M	new	+0.13 pp	new
unresolvedMarquee Raine Acquisition Co	0.12%	1,400,000	$15M	new	+0.12 pp	new
RTPZ.UReinvent Technology Partners	0.11%	1,200,000	$14M	new	+0.11 pp	new
unresolvedRice Acquisition Corp	0.09%	1,000,000	$11M	new	+0.09 pp	new
unresolvedStar Peak Energy Transition	0.09%	565,000	$12M	new	+0.09 pp	new
unresolvedHumanco Acquisition Corp	0.08%	1,000,000	$11M	new	+0.08 pp	new
unresolvedFoley Trasimene Acquisition	0.06%	1,666,666	$8M	new	+0.06 pp	new
unresolvedDragoneer Growth Oppty Corp	0.06%	700,000	$8M	new	+0.06 pp	new
SHYiShares 1-3 Year Treasury Bond ETF	0.04%	55,060	$5M	added+15%	0.00 pp	13 q
BMY-RBristol-myers Squibb-cvr	0.03%	6,000,000	$4M	held	—	5 q
unresolvedGlobal Blue Group Holding AG	0.02%	1,333,333	$2M	held	—	2 q
FTVFortive Corporation	—	−3,000,000	—	exited	−2.30 pp	—
XYZBlock, Inc.	—	−800,000	—	exited	−1.31 pp	—
CZRCaesars Entertainment, Inc.	—	−1,000,000	—	exited	−0.56 pp	—
BFT.UFoley Trasimene Acquisition	—	−5,000,000	—	exited	−0.51 pp	—
GDRXGoodRx Holdings, Inc. Class A	—	−500,000	—	exited	−0.28 pp	—
TXG10x Genomics, Inc. Class A	—	−123,268	—	exited	−0.15 pp	—
RPLA.UReplay Acquisition Corp	—	−1,000,000	—	exited	−0.11 pp	—
unresolvedChindata Group Hldgs Ltd	—	−350,000	—	exited	−0.06 pp	—
PTVEPactiv Evergreen Inc.	—	−500,000	—	exited	−0.06 pp	—