Third Point LLC
The positions Third Point LLC reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 14 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.
What Third Point LLC wrote
Letters & ThesesReported book is the quarter-end market value of the securities on the 13F, mostly US-listed long equity. It is not the manager’s assets under management: shorts, cash, leverage and most non-US or private holdings sit outside it.
Opened this quarter
A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.
- Warner Bros Discovery Inc (WBD)Common Series A$533m · 11%
- Keysight Technologies Inc (KEYS)$205m · 4.4%
- Block Inc (XYZ)Class A$195m · 4.2%
- Flex LTD (FLEX)$167m · 3.6%
- TTM Technologies Inc (TTMI)$94m · 2.0%
- Performance Food Group Co (PFGC)$76m · 1.6%
- Alphabet Inc (GOOGM)Depositary Shares Rp1/20 A$66m · 1.4%
- Sysco Corp (SYY)$48m · 1.0%
- Ares Management Corporation (ARES)Class A Common Stock$42m · 0.9%
- Space Exploration Techn Corp (SPCX)Class A Common Stock$31m · 0.7%
- State Street SPDR S&P 500 ETF (SPY)puts$29m · 0.6%
- Alphabet Inc (GOOGN)Depositary Shares Rp1/20 B$10m · 0.2%
- and 7 more, in the table below.
Sold out of this quarter
Exits are valued at what the position was worth in the previous filing, because by this one it is gone.
- Meta Platforms Inc (META)$52m held before
- SPDR Gold Trust (GLD)$41m held before
- Nvidia Corporation (NVDA)$33m held before
- Kla Corp (KLAC)$16m held before
- Lam Research Corp (LRCX)$16m held before
- Broadcom Inc (AVGO)$16m held before
- VanEck ETF Trust (SMH)$15m held before
- Sharkninja Inc (SN)$14m held before
- Claritev Corporation (CTEV)$700k held before
Every reported position, Q2 2026
43 positions, sorted by weight
| Position | Weight ↓ | Value | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Warner Bros Discovery Inc (WBD) Common Series A · CUSIP 934423104 | 11% | $533m | 20,000,000 | No earlier filing | New |
| Amazon Com Inc (AMZN) CUSIP 023135106 | 8.9% | $417m | 1,750,000 | +$13m -190,000 shares | Trimmed |
| Alphabet Inc (GOOGL) Capital Stock Class A · CUSIP 02079K305 | 7.8% | $366m | 1,025,000 | +$316m +850,000 shares | Added |
| Crh plc (CRH) CUSIP G25508105 | 5.0% | $235m | 2,195,000 | +$35m +295,000 shares | Added |
| Telephone & Data Sys Inc (TDS) CUSIP 879433829 | 5.0% | $232m | 6,275,000 | -$46m -325,000 shares | Trimmed |
| Taiwan Semiconductor Manufac (TSM) Sponsored ADS · CUSIP 874039100 | 4.7% | $220m | 460,000 | +$127m +185,000 shares | Added |
| Live Nation Entertainment In (LYV) CUSIP 538034109 | 4.4% | $208m | 1,135,000 | +$137m +670,000 shares | Added |
| Keysight Technologies Inc (KEYS) CUSIP 49338L103 | 4.4% | $205m | 585,000 | No earlier filing | New |
| Somnigroup International Inc (SGI) CUSIP 88023U101 | 4.3% | $202m | 2,570,769 | +$34m +300,000 shares | Added |
| Block Inc (XYZ) Class A · CUSIP 852234103 | 4.2% | $195m | 2,558,943 | No earlier filing | New |
| Norfolk Southn Corp (NSC) CUSIP 655844108 | 4.0% | $189m | 600,000 | +$160m +500,000 shares | Added |
| Flex LTD (FLEX) CUSIP Y2573F102 | 3.6% | $167m | 1,030,000 | No earlier filing | New |
| Capital One Finl Corp (COF) CUSIP 14040H105 | 3.5% | $166m | 825,000 | +$140m +685,000 shares | Added |
| Hut 8 Corp (HUT) CUSIP 44812J104 | 3.2% | $152m | 1,315,000 | +$111m +445,437 shares | Added |
| Carpenter Technology Corp (CRS) CUSIP 144285103 | 2.8% | $133m | 215,000 | +$10m -95,000 shares | Trimmed |
| Api Group Corp (APG) CUSIP 00187Y100 | 2.6% | $121m | 2,865,000 | +$39m +835,000 shares | Added |
| Mastec Inc (MTZ) CUSIP 576323109 | 2.6% | $121m | 290,000 | +$18m -30,000 shares | Trimmed |
| Transdigm Group Inc (TDG) CUSIP 893641100 | 2.2% | $105m | 79,000 | +$76m +54,000 shares | Added |
| Danaher Corp Del (DHR) CUSIP 235851102 | 2.2% | $103m | 540,000 | +$3.3m +15,000 shares | Added |
| Union Pac Corp (UNP) CUSIP 907818108 | 2.0% | $95m | 350,000 | +$71m +250,000 shares | Added |
| TTM Technologies Inc (TTMI) CUSIP 87305R109 | 2.0% | $94m | 505,000 | No earlier filing | New |
| Performance Food Group Co (PFGC) CUSIP 71377A103 | 1.6% | $76m | 675,000 | No earlier filing | New |
| Alphabet Inc (GOOGM) Depositary Shares Rp1/20 A · CUSIP 02079K404 | 1.4% | $66m | 1,300,000 | No earlier filing | New |
| Asml HLDG NV (ASML) N Y Registry Shares · CUSIP N07059210 | 1.3% | $60m | 30,000 | +$44m +18,000 shares | Added |
| Sysco Corp (SYY) CUSIP 871829107 | 1.0% | $48m | 580,000 | No earlier filing | New |
| Ares Management Corporation (ARES) Class A Common Stock · CUSIP 03990B101 | 0.9% | $42m | 375,000 | No earlier filing | New |
| Space Exploration Techn Corp (SPCX) Class A Common Stock · CUSIP 84615Q103 | 0.7% | $31m | 180,415 | No earlier filing | New |
| State Street SPDR S&P 500 ETF (SPY) puts · CUSIP 78462F103 | 0.6% | $29m | 40,000 | No earlier filing | New |
| Strata Critical Medical Inc (SRTA) Class A Common · CUSIP 092667104 | 0.6% | $26m | 5,000,000 | +$5.5m 0 shares | Held |
| Alphabet Inc (GOOGN) Depositary Shares Rp1/20 B · CUSIP 02079K602 | 0.2% | $10m | 200,000 | No earlier filing | New |
| Ars Pharmaceuticals Inc (SPRY) CUSIP 82835W108 | 0.2% | $8.0m | 1,000,000 | unchanged 0 shares | Held |
| Aurora Innovation Inc (AUR) Class A Common · CUSIP 051774107 | 0.2% | $7.0m | 1,032,463 | +$2.8m 0 shares | Held |
| Riot Platforms Inc (RIOT) Note 0.750% 1/1 · CUSIP 767292AB1 | 0.2% | $7.0m | 3,500,000 | No earlier filing | New |
| Hertz Global HLDGS Inc (HTZWW) *w EXP 06/30/205 · CUSIP 42806J148 | 0.1% | $4.3m | 3,970,000 | -$4.7m 0 shares | Held |
| Flyexclusive Inc (FLYX) Common Class A · CUSIP 343928107 | 0.0% | $2.0m | 1,022,000 | -$300k 0 shares | Held |
| Bausch Plus Lomb Corp (BLCO) CUSIP 071705107 | 0.0% | $1.4m | 85,000 | No earlier filing | New |
| Core Scientific Inc New (CORZ) CUSIP 21874A106 | 0.0% | $1.4m | 54,000 | No earlier filing | New |
| Erock Inc (EROC) Class A Common · CUSIP 296013105 | 0.0% | $1.2m | 83,030 | No earlier filing | New |
| Applied Digital Corp (APLD) CUSIP 038169207 | 0.0% | $800k | 22,000 | No earlier filing | New |
| Lithium Argentina AG (LAR) Note 1.750% 1/1 · CUSIP 53680QAA6 | 0.0% | $600k | 625,000 | No earlier filing | New |
| Aurora Innovation Inc (AUROW) *w EXP 11/03/202 · CUSIP 051774115 | 0.0% | $600k | 1,835,000 | +$200k 0 shares | Held |
| Wolfspeed Inc (WOLF) CUSIP 97785W106 | 0.0% | $500k | 10,000 | No earlier filing | New |
| Flyexclusive Inc (FLYXWS) *w EXP 99/99/999 · CUSIP 343928115 | 0.0% | $100k | 367,499 | unchanged 0 shares | Held |
Every filing on file
| Quarter | Period end | Filed | Book | Positions | Top 10 | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | 30 Jun 2026 | 14 Aug 2026 | $4.7bn | 43 | 60% | 13F-HR |
| Q1 2026 | 31 Mar 2026 | 15 May 2026 | $2.1bn | 33 | 78% | 13F-HR |
| Q4 2025 | 31 Dec 2025 | 17 Feb 2026 | $7.3bn | 44 | 54% | 13F-HR |
| Q3 2025 | 30 Sept 2025 | 14 Nov 2025 | $9.0bn | 46 | 53% | 13F-HR |
| Q2 2025 | 30 Jun 2025 | 14 Aug 2025 | $7.6bn | 51 | 50% | 13F-HR |
| Q1 2025 | 31 Mar 2025 | 15 May 2025 | $6.6bn | 45 | 50% | 13F-HR |
| Q4 2024 | 31 Dec 2024 | 14 Feb 2025 | $7.4bn | 43 | 57% | 13F-HR |
| Q3 2024 | 30 Sept 2024 | 14 Nov 2024 | $7.4bn | 42 | 61% | 13F-HR |
Taking this into the room
Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.
A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.
What this filing leaves out
A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.
The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.
You have read the book. Now have a view on one name
Pick a position, work out what it is worth, and be ready to defend it. That is the difference between a candidate who read the filing and one who did something with it.
Company names, tickers and logos are the trademarks of their respective owners and appear here to identify the company whose public figures are being used. L3VLUP is not affiliated with, sponsored by or endorsed by any company shown, and nothing here is a statement by or about that company. More
This manager, next quarter, and the week between
One email a week on what moved in the market, with the 13F changes the quarter they are filed.
One email a week, free, and you can leave at any point.