Third Point, the activist hedge fund led by billionaire investor Daniel Loeb, unveiled a series of fresh equity positions in the second quarter – Rocket Companies, Informa, and Casey’s General Stores – according to a report by Reuters citing a recent investor letter.
The firm’s flagship offshore fund returned 7.5% in Q2, buoyed in part by these new positions, Loeb told clients in a communication seen by Reuters.
Among the notable new stakes was Rocket Companies, the US mortgage lender, which recently announced a $9.4bn acquisition of Mr Cooper Group. Loeb described the deal as a “transformative, synergy-rich merger” of two tech-forward players in a mortgage sector still plagued by inefficiency and inflationary cost structures. He added that Mr Cooper’s servicing portfolio could serve as a robust pipeline for Rocket’s refinancing business.
Casey’s General Stores – the third-largest US convenience chain and a top-five national pizza brand – also drew Third Point’s interest. The hedge fund cited Casey’s strong operational execution, successful M&A strategy, and consistent employee retention.
In the UK, Third Point initiated a position in Informa, a major player in business events and academic publishing and operator pf a number of high-profile conferences, including SuperReturn, the Dubai Air Show, and the Monaco Yacht Show.
The fund also re-entered Nvidia, which had earlier been weighed down by macroeconomic concerns including US tariffs and recession fears.
Among Q2’s top contributors was US Steel, which closed a long-delayed deal to be acquired by Nippon Steel following regulatory scrutiny. A weaker performer was Kenvue, the Johnson & Johnson spinoff behind brands like Tylenol and Band-Aid.
