Third Point

Q1 2024 13F · by Daniel Loeb, CIO

As of: Mar 31, 2024
Filed: May 15, 2024
US stock: $7.8B · prev $6.6B
Positions: 39 · prev 37
Options notional: $12M
Documents: 1· no amendments

Picture99.8% US stock

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

US stock listed on a US exchange 99.8%
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 0.1%

Moves26 since the prior filing

+17.4 pp in · −12.6 pp out

New 8 +13.43 pp
Added 6 +3.96 pp
Trimmed 5 −2.84 pp
Exited 6 −9.76 pp

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

The book

Concentrated · behaves like 15 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 46% a year, about 2.2 years per position

Low
Moderate
High

Top 5 positions49% of US stock

Positions39 in this filing · 6 exited


PCGPG&E Corporation	12.38%	57,860,000	$970M	held	—	15 q
AMZNAmazon.Com Inc	11.74%	5,100,000	$920M	added+21%	+2.13 pp	4 q
MSFTMicrosoft Corp	9.48%	1,765,000	$743M	trimmed−12%	−1.93 pp	6 q
BBWIBath & Body Works, Inc.	8.20%	12,850,000	$643M	trimmed−7%	−0.80 pp	7 q
METAMeta Platforms, Inc. Class A	7.66%	1,236,000	$600M	added+7%	+1.47 pp	3 q
DHRDanaher Corporation	6.53%	2,050,000	$512M	held	—	35 q
GOOGLAlphabet Inc. Class A	5.78%	3,000,000	$453M	new	+5.78 pp	new
VSTVistra Corp.	3.97%	4,470,000	$311M	trimmed−3%	+1.30 pp	5 q
AIGAmerican International Group, Inc.	3.44%	3,450,000	$270M	held	—	6 q
JJacobs Solutions Inc.	3.43%	1,750,000	$269M	held	—	5 q
FERGFerguson Enterprises Inc.	3.04%	1,090,000	$238M	held	—	7 q
CPAYCorpay, Inc.	2.56%	650,000	$201M	added+6%	−0.06 pp	2 q
VZVerizon Communications	2.46%	4,675,000	$193M	held	—	2 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	2.04%	1,175,000	$160M	held	—	4 q
SPGIS&P Global Inc.	1.82%	335,000	$143M	new	+1.82 pp	new
ICEIntercontinental Exchange Inc.	1.75%	1,000,000	$137M	added+43%	+0.40 pp	4 q
AAPAdvance Auto Parts Inc	1.62%	1,500,100	$127M	new	+1.62 pp	new
IFFInternational Flavors & Fragrances Inc.	1.54%	1,400,000	$120M	trimmed−32%	−0.97 pp	6 q
APOApollo Global Management, Inc.	1.44%	1,000,000	$112M	added+11%	+0.18 pp	2 q
MRVLMarvell Technology, Inc.	1.38%	1,525,000	$108M	new	+1.38 pp	new
GSGoldman Sachs Group Inc.	1.33%	250,000	$104M	new	+1.33 pp	new
CNKCinemark Holdings, Inc.	1.15%	5,000,000	$90M	new	+1.15 pp	new
WCCWesco International Inc.	1.15%	525,200	$90M	added+5%	−0.16 pp	5 q
EQTEqt Corp	0.92%	1,950,000	$72M	held	—	2 q
Apollo Global Managementconvertible	0.73%	900,000	$57M	held	—	3 q
unresolvedGlobal Blue Group Holding AG	0.56%	8,387,601	$44M	held	—	15 q
UBERUber Technologies, Inc.	0.49%	500,000	$38M	trimmed−50%	−0.44 pp	4 q
TDSTelephone and Data Systems Inc.	0.44%	2,136,832	$34M	held	—	3 q
ITGartner, Inc.	0.33%	55,000	$26M	new	+0.33 pp	new
ADArray Digital Infrastructure, Inc.	0.25%	545,344	$20M	held	—	3 q
HTZWWHertz Global Holdings	0.22%	3,970,000	$18M	held	—	4 q
FLYXflyExclusive, Inc.	0.06%	1,022,000	$4M	held	—	2 q
AURAurora Innovation, Inc. Class A	0.04%	1,032,463	$3M	held	—	12 q
NPWR.WSNET Power Inc. Redeemable warrants, each whole warrant exercisable for one share of Class A at an exercise price of $11.50	0.02%	500,000	$1M	held	—	4 q
PTENPatterson-UTI Energy Inc	0.02%	150,000	$2M	new	+0.02 pp	new
AUROWAurora Innovation, Inc.	0.01%	1,835,000	$495,450	held	—	12 q
FLYX.WSflyExclusive, Inc. Redeemable warrants, each whole warrant exercisable for one Class A at an exercise price of $11.50 per share	0.00%	367,499	$158,025	held	—	2 q
JWSWFJaws Mustang Acq Corp Wts	0.00%	1,000,000	$215,000	held	—	12 q
unresolvedGlobal Blue Group Holding AG	0.00%	1,333,333	$45,067	held	—	15 q
XUnited States Steel Corp	—	−5,500,000	—	exited	−4.03 pp	—
DDDuPont de Nemours, Inc.	—	−3,465,000	—	exited	−4.02 pp	—
MCKMcKesson Corporation	—	−165,000	—	exited	−1.15 pp	—
BMRNBioMarin Pharmaceuticals Inc	—	−385,000	—	exited	−0.56 pp	—
unresolvedSocial Leverage Acquisn Corp	—	−250,000	—	exited	0.00 pp	—
TMCWWTMC the metals company Inc.	—	−1,000,000	—	exited	0.00 pp	—