Third Point

Q1 2021 13F · by Daniel Loeb, CIO

As of: Mar 31, 2021
Filed: May 14, 2021
US stock: $14.8B · prev $13.0B
Positions: 124 · prev 74
Options notional: $3M
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%

Moves148 since the prior filing

+24.1 pp in · −30.2 pp out

New 84 +20.75 pp
Added 11 +3.30 pp
Trimmed 18 −11.80 pp
Exited 34 −18.36 pp

Options: 1 move on a notional base, in the table below.

The book

Focused · behaves like 28 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 83% a year, about 1.2 years per position

Low
Moderate
High

Top 5 positions31% of US stock

UPST Upstart Holdings, Inc. held held11.4%
PCG PG&E Corporation trimmed−1.61 pp trimmed−1.616.5%
DIS The Walt Disney Company trimmed−1.48 pp trimmed−1.485.2%
DHR Danaher Corporation trimmed−0.74 pp trimmed−0.744.4%
PSFE Paysafe Limited new+3.78 pp new+3.783.8%

Positions124 in this filing · 34 exited


UPSTUpstart Holdings, Inc.	11.39%	13,381,222	$1.7B	held	—	2 q
PCGPG&E Corporation	6.55%	82,935,257	$971M	trimmed−2%	−1.61 pp	3 q
DISThe Walt Disney Company	5.22%	4,200,000	$775M	trimmed−13%	−1.48 pp	5 q
DHRDanaher Corporation	4.40%	2,900,000	$653M	trimmed−3%	−0.74 pp	23 q
PSFEPaysafe Limited	3.78%	41,500,000	$560M	new	+3.78 pp	new
IAA-WUSDIaa Inc	3.23%	8,698,694	$480M	trimmed−12%	−1.73 pp	6 q
INTUIntuit Inc	3.10%	1,200,000	$460M	added+20%	+0.17 pp	4 q
CSGPCoStar Group Inc	3.05%	550,000	$452M	new	+3.05 pp	new
BURLBurlington Stores, Inc.	3.02%	1,500,000	$448M	trimmed−10%	−0.35 pp	8 q
GOOGLAlphabet Inc. Class A	2.92%	210,000	$433M	trimmed−19%	−0.59 pp	2 q
CHTRCharter Comm Inc Del CL A New	2.70%	650,000	$401M	trimmed−13%	−1.13 pp	5 q
MSFTMicrosoft Corp	2.54%	1,600,000	$377M	added+23%	+0.31 pp	3 q
UBERUber Technologies, Inc.	2.48%	6,750,000	$368M	new	+2.48 pp	new
AMZNAmazon.Com Inc	2.38%	114,000	$353M	trimmed−21%	−1.26 pp	6 q
SPGIS&P Global Inc.	2.38%	1,000,000	$353M	added+11%	+0.10 pp	20 q
IQVIQVIA Holdings Inc.	2.36%	1,810,400	$350M	held	—	11 q
AVTRAvantor, Inc.	2.15%	11,000,000	$318M	held	—	3 q
VVISA Inc.	2.14%	1,500,000	$318M	trimmed−3%	−0.47 pp	12 q
METAMeta Platforms, Inc. Class A	1.99%	1,000,000	$295M	trimmed−9%	−0.33 pp	4 q
TDGTransDigm Group Incorporated	1.92%	485,000	$285M	held	—	3 q
ELThe Estee Lauder Companies Inc. Class A	1.89%	965,000	$281M	added×4.8	+1.48 pp	2 q
JDJD.com, Inc.	1.88%	3,300,000	$278M	trimmed−3%	−0.42 pp	4 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.50%	600,000	$223M	added+88%	+0.63 pp	2 q
9991429DAptiv Irish Holdings Ltd	1.44%	1,550,000	$214M	added+3%	−0.07 pp	2 q
DDDuPont de Nemours, Inc.	1.39%	2,675,000	$207M	new	+1.39 pp	new
RACEFerrari N.V.	1.39%	985,000	$206M	trimmed−9%	−0.53 pp	6 q
0VQJLTe Connectivity Ltd	1.35%	1,550,000	$200M	held	—	5 q
DELLDell Technologies Inc.	1.19%	2,000,000	$176M	new	+1.19 pp	new
RHRh	1.12%	277,541	$166M	added+7%	+0.23 pp	2 q
unresolvedLeslies Inc	1.02%	6,150,000	$151M	added+37%	+0.06 pp	2 q
KMXCarMax Inc.	0.98%	1,100,000	$146M	trimmed−14%	+0.05 pp	2 q
ZZillow Group, Inc. Class C	0.95%	1,085,000	$141M	added+96%	+0.40 pp	2 q
SHOPShopify Inc. Class A subordinate voting shares	0.90%	120,000	$133M	new	+0.90 pp	new
CTLTCatalent, Inc.	0.87%	1,225,000	$129M	held	—	2 q
BKIBlack Knight, Inc.	0.85%	1,700,000	$126M	trimmed−3%	−0.34 pp	4 q
SUSuncor Energy, Inc.	0.85%	6,000,000	$125M	new	+0.85 pp	new
unresolvedGlobal Blue Group Holding AG	0.75%	9,117,625	$111M	trimmed−0%	−0.16 pp	3 q
CVNACarvana Co.	0.71%	400,000	$105M	new	+0.71 pp	new
PG&E Corpconvertible	0.62%	800,000	$91M	held	—	3 q
ETRNEquitrans Midstream Corporation	0.50%	9,000,000	$73M	trimmed−31%	−0.31 pp	4 q
RADIGRadius Global Infrastructu-a	0.45%	4,495,473	$66M	trimmed−0%	0.00 pp	2 q
INTCIntel Corp	0.43%	1,000,000	$64M	held	—	2 q
NYTNew York Times Co.	0.43%	1,260,713	$64M	new	+0.43 pp	new
unresolvedContextlogic Inc	0.40%	3,853,050	$60M	held	—	2 q
Aes CORP/THEconvertible	0.35%	500,000	$52M	new	+0.35 pp	new
AESAES Corporation	0.33%	1,850,000	$50M	new	+0.33 pp	new
SLViShares Silver Trust	0.31%	2,000,000	$45M	new	+0.31 pp	new
unresolvedAusterlitz Acquisition Corp	0.27%	4,000,000	$40M	new	+0.27 pp	new
JWSUFJaws Mustang Acq Corp Uts	0.27%	4,000,000	$41M	new	+0.27 pp	new
unresolvedReinvent Technology Partners	0.27%	4,000,000	$40M	new	+0.27 pp	new
unresolvedFintech Acquisition Corp V	0.23%	3,000,000	$34M	new	+0.23 pp	new
RKTRocket Companies, Inc.	0.23%	1,500,000	$35M	new	+0.23 pp	new
unresolvedGo Acquisition Corp	0.20%	3,000,000	$30M	new	+0.20 pp	new
KDMNKadmon Holdings, Inc.	0.20%	7,601,115	$30M	held	—	19 q
AVANAvanti Acquisition Corp-a	0.20%	3,000,000	$29M	new	+0.20 pp	new
unresolvedJaws Acquisition Corp	0.19%	2,084,192	$28M	trimmed−64%	−0.40 pp	2 q
unresolvedCompute Health Acquisitin Co	0.17%	2,500,000	$25M	new	+0.17 pp	new
unresolvedKhosla Ventures Acqut Co III	0.17%	2,500,000	$25M	new	+0.17 pp	new
unresolvedKhosla Ventures Acqustn Co I	0.15%	2,250,000	$23M	new	+0.15 pp	new
unresolvedVy Global Growth	0.14%	2,000,000	$20M	new	+0.14 pp	new
unresolvedCm Life Sciences Inc	0.13%	1,295,000	$19M	new	+0.13 pp	new
unresolvedAltimeter Growth Corp	0.13%	1,600,000	$19M	new	+0.13 pp	new
unresolvedBluescape Opportunities Acqu	0.13%	2,000,000	$20M	new	+0.13 pp	new
CRHCCohn Robbins Holdings-cl A	0.13%	1,900,000	$19M	new	+0.13 pp	new
unresolvedFar Peak Acquisition Corp	0.13%	2,000,000	$20M	new	+0.13 pp	new
unresolvedFirstmark Horizon Acquisitio	0.11%	1,658,761	$17M	new	+0.11 pp	new
unresolvedTlg Acquisition One Corp	0.10%	1,500,000	$15M	new	+0.10 pp	new
unresolvedVector Acquisition Corp II	0.10%	1,500,000	$15M	new	+0.10 pp	new
unresolvedAltimeter Growth Corp 2	0.09%	1,285,000	$13M	new	+0.09 pp	new
unresolvedAusterlitz Acquisition Corp	0.09%	1,300,000	$13M	new	+0.09 pp	new
unresolvedMarquee Raine Acquisition Co	0.09%	1,400,000	$14M	new	+0.09 pp	new
unresolvedLerer Hippeau Acquisition Co	0.08%	1,250,000	$12M	new	+0.08 pp	new
unresolvedDragoneer Growth Opt Corp II	0.08%	1,200,000	$12M	new	+0.08 pp	new
unresolvedReinvent Technology Partners	0.08%	1,200,000	$12M	new	+0.08 pp	new
unresolvedHumanco Acquisition Corp	0.07%	1,000,000	$10M	new	+0.07 pp	new
unresolvedKhosla Ventures Acquisition	0.07%	1,000,000	$10M	new	+0.07 pp	new
unresolvedRice Acquisition Corp	0.07%	1,000,000	$10M	new	+0.07 pp	new
unresolvedSocial Leverage Acquisn Corp	0.07%	1,000,000	$10M	new	+0.07 pp	new
unresolvedArclight Clean Transition II	0.07%	1,000,000	$10M	new	+0.07 pp	new
unresolvedDisruptive Acquisition Corp	0.07%	1,000,000	$10M	new	+0.07 pp	new
IACB.UIon Acquisition Corp 2 Ltd	0.07%	1,000,000	$10M	new	+0.07 pp	new
unresolvedNightdragon Acquisition Corp	0.06%	800,000	$8M	new	+0.06 pp	new
unresolvedTishman Speyer Innovation Co	0.05%	750,000	$8M	new	+0.05 pp	new
unresolvedDragoneer Growth Oppty Corp	0.05%	780,000	$8M	added+11%	−0.01 pp	2 q
unresolvedLevere Holdings Corp	0.05%	800,000	$8M	new	+0.05 pp	new
unresolvedMedicus Sciences Acquisition	0.05%	790,000	$8M	new	+0.05 pp	new
unresolvedPaysafe Limited	0.05%	1,666,666	$7M	new	+0.05 pp	new
unresolvedSvf Investment Corp 3	0.05%	800,000	$8M	new	+0.05 pp	new
SHYiShares 1-3 Year Treasury Bond ETF	0.04%	63,645	$5M	added+16%	0.00 pp	14 q
unresolvedHamilton Lane Alliance Hldgs	0.03%	500,000	$5M	new	+0.03 pp	new
unresolvedThe Music Acquisition Corp	0.03%	500,000	$5M	new	+0.03 pp	new
unresolvedCc Neuberger Principal Holdn	0.03%	500,000	$5M	new	+0.03 pp	new
unresolvedLdh Growth Corp I	0.03%	500,000	$5M	new	+0.03 pp	new
SLMUFSlam Corp Uts	0.03%	500,000	$5M	new	+0.03 pp	new
unresolvedFigure Acquisition Corp I	0.02%	350,000	$4M	new	+0.02 pp	new
unresolvedFifth Wall Acquisition Corp	0.02%	250,000	$3M	new	+0.02 pp	new
unresolvedGores Holdings Vi Inc	0.02%	250,000	$3M	new	+0.02 pp	new
unresolvedHH&L Acquisition Co	0.02%	300,000	$3M	new	+0.02 pp	new
unresolvedSvf Investment Corp 2	0.02%	300,000	$3M	new	+0.02 pp	new
unresolvedClimate Real Impact Slutins	0.01%	175,000	$2M	new	+0.01 pp	new
unresolvedCompute Health Acquisitin Co	0.01%	625,000	$781,000	new	+0.01 pp	new
unresolvedDecarbonization Plus Acqu II	0.01%	165,000	$2M	new	+0.01 pp	new
unresolvedFirstmark Horizon Acquisitio	0.01%	505,000	$783,000	new	+0.01 pp	new
unresolvedGo Acquisition Corp	0.01%	1,000,000	$900,000	new	+0.01 pp	new
unresolvedRice Acquisition Corp	0.01%	510,000	$755,000	new	+0.01 pp	new
unresolvedStar Peak Corp II	0.01%	200,000	$2M	new	+0.01 pp	new
SUMOSumo Logic, Inc.	0.01%	75,000	$1M	new	+0.01 pp	new
unresolvedAltimeter Growth Corp	0.01%	300,000	$933,000	new	+0.01 pp	new
unresolvedAvanti Acquisition Corp	0.01%	1,500,000	$2M	new	+0.01 pp	new
unresolvedBluescape Opportunities Acqu	0.01%	1,000,000	$2M	new	+0.01 pp	new
unresolvedBridgetown 2 Holdings Ltd	0.01%	175,000	$2M	new	+0.01 pp	new
unresolvedCohn Robbins Holdings Corp	0.01%	833,332	$1M	new	+0.01 pp	new
unresolvedDiversey Hldgs Ltd	0.01%	94,173	$1M	new	+0.01 pp	new
unresolvedReinvent Technology Partners	0.01%	750,000	$2M	new	+0.01 pp	new
unresolvedSocial Capital Hedosopha Hld	0.01%	687,500	$2M	new	+0.01 pp	new
unresolvedGlobal Blue Group Holding AG	0.01%	1,333,333	$2M	held	—	3 q
unresolvedHumanco Acquisition Corp	0.00%	500,000	$650,000	new	0.00 pp	new
unresolvedTlg Acquisition One Corp	0.00%	500,000	$285,000	new	0.00 pp	new
unresolvedFar Peak Acquisition Corp	0.00%	666,666	$733,000	new	0.00 pp	new
VLDXWVELO3D Inc Wts	0.00%	98,333	$193,000	new	0.00 pp	new
unresolvedMarquee Raine Acquisition Co	0.00%	350,000	$434,000	new	0.00 pp	new
unresolvedReinvent Technology Partners	0.00%	240,000	$379,000	new	0.00 pp	new
unresolvedSocial Capital Hedosopha Hld	0.00%	287,500	$700,000	new	0.00 pp	new
TMCWWTMC the metals company Inc.	0.00%	500,000	$450,000	new	0.00 pp	new
BABAAlibaba Group Holding Limited	—	−1,400,000	—	exited	−2.51 pp	—
FISFidelity National Information Services, Inc.	—	−2,136,422	—	exited	−2.33 pp	—
ADBEAdobe Inc.	—	−455,000	—	exited	−1.75 pp	—
CRMSalesforce, Inc.	—	−900,000	—	exited	−1.54 pp	—
PLNTPlanet Fitness, Inc.	—	−2,305,900	—	exited	−1.38 pp	—
EXPEExpedia Group, Inc.	—	−1,200,000	—	exited	−1.22 pp	—
SWKStanley Black & Decker, Inc.	—	−817,841	—	exited	−1.13 pp	—
NKENike, Inc.	—	−1,000,000	—	exited	−1.09 pp	—
BFTFoley Trasimene Acquisiti-a	—	−5,000,000	—	exited	−0.58 pp	—
PINSPinterest, Inc. Class A	—	−1,000,000	—	exited	−0.51 pp	—
PLTRPalantir Technologies Inc. Class A	—	−2,356,991	—	exited	−0.42 pp	—
VNTVontier Corporation	—	−1,201,439	—	exited	−0.31 pp	—
RTP.UReinvent Technology Partners	—	−3,000,000	—	exited	−0.28 pp	—
unresolvedSocial Capital Hedosopha Hld	—	−2,750,000	—	exited	−0.27 pp	—
unresolvedJaws Spitfire Acquisition Co	—	−3,000,000	—	exited	−0.26 pp	—
unresolvedGo Acquisition Corp	—	−3,000,000	—	exited	−0.25 pp	—
unresolvedAvanti Acquisition Corp	—	−3,000,000	—	exited	−0.25 pp	—
DASHDoorDash, Inc. Class A	—	−200,000	—	exited	−0.22 pp	—
unresolvedCohn Robbins Holdings Corp	—	−2,500,000	—	exited	−0.21 pp	—
IPOE.USocial Capital Hedosophia Ho	—	−2,000,000	—	exited	−0.20 pp	—
DISHDISH Network Corp.	—	−712,300	—	exited	−0.18 pp	—
unresolvedBluescape Opportunities Acqu	—	−2,000,000	—	exited	−0.17 pp	—
unresolvedFar Peak Acquisition Corp	—	−2,000,000	—	exited	−0.16 pp	—
BFAMBright Horizons Family Solutions Inc.	—	−114,975	—	exited	−0.15 pp	—
unresolvedAltimeter Growth Corp	—	−1,500,000	—	exited	−0.15 pp	—
unresolvedFirstmark Horizon Acquisitio	—	−1,500,000	—	exited	−0.13 pp	—
unresolvedSocial Capital Hedosopha Hld	—	−1,150,000	—	exited	−0.13 pp	—
unresolvedMarquee Raine Acquisition Co	—	−1,400,000	—	exited	−0.12 pp	—
RTPZ.UReinvent Technology Partners	—	−1,200,000	—	exited	−0.11 pp	—
unresolvedRice Acquisition Corp	—	−1,000,000	—	exited	−0.09 pp	—
unresolvedStar Peak Energy Transition	—	−565,000	—	exited	−0.09 pp	—
unresolvedHumanco Acquisition Corp	—	−1,000,000	—	exited	−0.08 pp	—
unresolvedFoley Trasimene Acquisition	—	−1,666,666	—	exited	−0.06 pp	—
BMY-RBristol-myers Squibb-cvr	—	−6,000,000	—	exited	−0.03 pp	—