Daniel Loeb - Third Point Portfolio
| Period Date | Mar 31, 2025 | |
| Filing Date | May 15, 2025 | |
| Total Stocks | 44 | |
| Portfolio Value | $6.37B |
Third Point Strategy Analysis
Investment Strategy Metrics
Key metrics revealing investment style, risk management, and performance characteristics
| Metric | Value | Category | Description |
|---|---|---|---|
| Holding Period | 1.5 years | Style | Average duration positions are maintained |
| Position Count | 92 | Style | Number of active positions in portfolio |
| Position Size | 4.6% | Risk | Typical allocation per position |
| Win Rate | 50.4% | Performance | Percentage of profitable positions |
| Average Return | 550.0% | Performance | Mean return across positions |
| Sharpe Ratio | 0.09 | Performance | Return per unit of risk taken |
Investment Case Study: PG&E CORP (PCG)
12/31/2017 - 8/4/2025
Performance Metrics
Total Return: 122,404.40%
Holding Period: 2773 days
Max Position Size: $1,043,215,800.00
Position Weight: 11.32%
Key Events
12/31/2017: ENTRY(1,250,000.00 shares) @ $0.04
9/30/2020: INCREASE(83,685,257.00 shares) @ $0.01
3/31/2021: DECREASE(-2,000,000.00 shares) @ $0.01
6/30/2021: DECREASE(-1,000,000.00 shares) @ $0.01
12/31/2021: DECREASE(-4,935,257.00 shares) @ $0.01
3/31/2022: DECREASE(-7,700,000.00 shares) @ $0.01
6/30/2022: DECREASE(-3,900,000.00 shares) @ $0.01
9/30/2022: DECREASE(-2,000,000.00 shares) @ $0.01
12/31/2022: DECREASE(-4,330,000.00 shares) @ $16.26
3/31/2023: INCREASE(180,000.00 shares) @ $16.17
6/30/2023: DECREASE(-5,250,000.00 shares) @ $17.28
9/30/2023: INCREASE(2,860,000.00 shares) @ $16.13
12/31/2023: INCREASE(1,000,000.00 shares) @ $18.03
6/30/2024: DECREASE(-4,110,000.00 shares) @ $17.46
9/30/2024: DECREASE(-4,000,000.00 shares) @ $19.77
12/31/2024: DECREASE(-1,250,000.00 shares) @ $20.18
3/31/2025: INCREASE(2,600,000.00 shares) @ $17.18
Investment Thesis
Entry Context: Initial position established based on fundamental analysis
Sector Conditions: Favorable market conditions in the sector
Risk Factors:
- Market volatility
- Sector-specific risks
Key Learnings
- Position sizing is critical for portfolio management
- Important to monitor sector exposure