Daniel Loeb's Strategic Moves: PG&E Corp Exit Impacts Portfolio by -7.59%

This article first appeared on GuruFocus.

Exploring the Latest 13F Filing of Third Point LLC

Daniel Loeb (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2026, providing insights into his investment moves during this period. Daniel S. Loeb founded Third Point LLC in 1995 and leads the firms research activities, portfolio, and risk management. He is well known for his public letters in which he criticizes company CEOs or other investment managers. Loeb and Third Point focus on activist investing, identifying situations in which a catalyst could unlock value and then pushing for change at companies to unlock said value. They follow an event-driven, value-oriented investment style.

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Summary of New Buy

Daniel Loeb (Trades, Portfolio) added a total of 10 stocks, among them:

The most significant addition was Meta Platforms Inc (NASDAQ:META), with 90,000 shares, accounting for 2.47% of the portfolio and a total value of $51.49 million. The second largest addition to the portfolio was Alphabet Inc (NASDAQ:GOOGL), consisting of 175,000 shares, representing approximately 2.42% of the portfolio, with a total value of $50.32 million. The third largest addition was Hut 8 Corp (NASDAQ:HUT), with 869,563 shares, accounting for 1.96% of the portfolio and a total value of $40.79 million.

Key Position Increases

Daniel Loeb (Trades, Portfolio) also increased stakes in a total of 1 stock, among them:

The most notable increase was ARS Pharmaceuticals Inc (NASDAQ:SPRY), with an additional 443,763 shares, bringing the total to 1,000,000 shares. This adjustment represents a significant 79.78% increase in share count, a 0.17% impact on the current portfolio, with a total value of $8.03 million.

Summary of Sold Out

Daniel Loeb (Trades, Portfolio) completely exited 20 of the holdings in the first quarter of 2026, as detailed below:

PG&E Corp (NYSE:PCG): Daniel Loeb (Trades, Portfolio) sold all 34,300,000 shares, resulting in a -7.59% impact on the portfolio. Microsoft Corp (NASDAQ:MSFT): Daniel Loeb (Trades, Portfolio) liquidated all 925,000 shares, causing a -6.16% impact on the portfolio.

Key Position Reduces

Daniel Loeb (Trades, Portfolio) also reduced positions in 16 stocks. The most significant changes include:

Reduced NVIDIA Corp (NASDAQ:NVDA) by 2,760,000 shares, resulting in a -93.56% decrease in shares and a -7.08% impact on the portfolio. The stock traded at an average price of $183.46 during the quarter and has returned 23.97% over the past 3 months and 21.51% year-to-date. Reduced Union Pacific Corp (NYSE:UNP) by 1,710,000 shares, resulting in a -94.48% reduction in shares and a -5.44% impact on the portfolio. The stock traded at an average price of $244.86 during the quarter and has returned 4.33% over the past 3 months and 17.57% year-to-date.

Story Continues

Portfolio Overview

At the first quarter of 2026, Daniel Loeb (Trades, Portfolio)'s portfolio included 33 stocks, with top holdings including 19.4% in Amazon.com Inc (NASDAQ:AMZN), 13.34% in Telephone and Data Systems Inc (NYSE:TDS), 9.59% in CRH PLC (NYSE:CRH), 8.06% in Somnigroup International Inc (NYSE:SGI), and 5.87% in Carpenter Technology Corp (NYSE:CRS).Daniel Loeb's Strategic Moves: PG&E Corp Exit Impacts Portfolio by -7.59%

The holdings are mainly concentrated in 7 of all the 11 industries: Consumer Cyclical, Communication Services, Industrials, Basic Materials, Technology, Healthcare, and Financial Services.Daniel Loeb's Strategic Moves: PG&E Corp Exit Impacts Portfolio by -7.59%

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