Dan Loeb’s Third Point delivered a strong start to H2 2025, returning 4.5% in July, comfortably outpacing the S&P 500’s 2.2% gain (including dividends), according to a report by Business Insider citing the firm’s latest investor update.
The hedge fund is now up 6.3% year-to-date, trailing the broader market’s 8.6% return but gaining ground with momentum in its equity book.
July’s gains were primarily driven by Third Point’s fundamental and event-driven equity strategy, which contributed 3.9% of the 4.4% total equity return. Notable winners included: CoStar Group – the real estate data and marketplace platform; Nvidia; Comfort Systems – a mechanical and electrical contractor; and Talen Energy – a power generation and infrastructure play.
CoStar and Nvidia also rank among Third Point’s top five performers for the year.
On the downside, London Stock Exchange Group, Carpenter Technology, and an unnamed private position were the main detractors in July.
The fund’s net long exposure stood at 67% going into August, down from 74% the prior month. Its five largest long equity positions as of month-end were: Kenvue, Pacific Gas & Electric, Amazon, CoStar Group, and Microsoft.
In its Q2 investor letter, Third Point revealed two new additions to the portfolio: mortgage firm Rocket Companies, and B2B live ents specialist Informa.
