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Dan Loeb is no stranger to bold portfolio shifts. As the founder of Third Point, Loeb has built a reputation for being both an activist investor and a shrewd opportunist, unafraid to cut positions that no longer serve his vision. Unlike long-only investors who ride out cycles, Loeb is quick to reassess, rotate capital, and pursue new opportunities when the market or the fundamentals change.
Third Point’s strategy thrives on information edge and timing. Its portfolio is often a blend of high-conviction growth stories, special situations, and activist targets. But just as telling as what Loeb buys is what he exits.
In recent quarters, Third Point completely offloaded several notable positions, signaling shifting views on everything from tech and healthcare to consumer names.
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Below are several high-profile names Loeb has recently sold out of, which reveal deep insights about his outlook as the stocks he continues to hold.
1. Apple (AAPL)
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Apple remains a global tech giant with unmatched brand loyalty, robust product ecosystems, and an expanding services business. It’s a staple in many portfolios thanks to its massive cash flow and consistent shareholder returns.
But despite its strength, Apple has faced questions around iPhone sales growth, China exposure, and limited near-term innovation.
Third Point’s sale of Apple may have been less about the company itself and more about opportunity cost. After years of strong performance, Apple’s stock has become more defensive than disruptive. There was also a concern that Apple’s ability to adapt to the AI landscape is far behind its competitors.
For Loeb, the decision to exit likely reflects a desire to rotate capital into more underpriced ideas, especially in sectors with greater earnings leverage or near-term momentum.
2. Thermo Fisher Scientific (TMO)
Thermo Fisher, like Danaher, operates at the high end of the life sciences and laboratory supply chain. It played a major role during the pandemic, supporting global testing, research, and vaccine development. In the post-COVID period, however, growth has cooled, and the stock has struggled to recapture its prior momentum.
Third Point’s decision to close its position in Thermo Fisher may have been driven by a broader exit from lab equipment and diagnostics plays, many of which are entering a slower-growth phase. Concerns over the impact of U.S.-China tariffs undoubtedly played a role as well, with Thermo Fisher facing headwinds over reduced sales and increased costs.
Loeb’s style favors companies with near-term inflection points or underappreciated upside, traits that Thermo Fisher currently lacks in a more normalized operating environment.
3. Danaher Corp (DHR)
Danaher is a global leader in life sciences and diagnostics, with a long track record of innovation and smart acquisitions. Its portfolio spans bioprocessing, molecular diagnostics, and water quality solutions. While the company remains fundamentally strong, its shares have struggled recently due to post-COVID normalization in demand and headwinds in the biotech tools space.
The resulting sale of Danaher meant a -5.87% on the overall Third Point portfolio, and they likely exited at a loss.
Loeb’s exit from Danaher suggests a shift away from defensive healthcare names that may no longer offer compelling upside. Third Point likely saw limited near-term catalysts and a valuation that priced in long-term stability without near-term growth acceleration. The exit fits Loeb’s tactical approach, taking profits when upside stalls and reallocating capital toward higher-momentum opportunities.
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4. Meta Platforms (META)
Meta remains a dominant force in digital advertising, with strong performance across Facebook, Instagram, and WhatsApp. The company has also invested heavily in artificial intelligence and mixed reality, signaling long-term innovation. However, it remains exposed to regulatory risk and shifting online engagement trends, especially among younger audiences.
Third Point’s decision to fully exit Meta may reflect a belief that much of the near-term recovery has already played out. The stock’s strong rebound in 2023 and early 2024 allowed Loeb to lock in gains, particularly as market sentiment grew more cautious about ad spend and platform saturation. Additionally, the company’s capex, especially around AI infrastructure, is a concern for the future.
For a hedge fund with a history of tight position management, the Meta exit likely reflects rotation into names with fresher catalysts.
5. Tesla (TSLA)
Tesla has been one of the most talked-about stocks in the market for years, driven by its electric vehicle dominance, bold leadership, and ambitious energy ambitions. But despite its long-term potential, Tesla’s shares have faced growing volatility amid rising competition, regulatory scrutiny, and questions around margins. Add Elon’s overpromising and underdelivering, as well as his divided attention between all of his companies, and an exit makes sense for Loeb.
Dan Loeb exited his Tesla position entirely last quarter, suggesting a reassessment of risk in a stock that has often traded more on momentum than fundamentals. While he’s previously shown a willingness to back high-growth tech names, Third Point likely viewed Tesla’s valuation as stretched, with limited near-term upside compared to other opportunities in the market.
For an investor known for opportunistic timing, it may have been the right moment to move on from a name that has become increasingly polarizing.
Loeb Trims the Fat to Make Room for Opportunity
Dan Loeb has built Third Point around bold, high-conviction moves, and he isn’t shy about walking away from even the most well-known names when conditions shift. Known for his activist edge and tactical flexibility, Loeb favors a dynamic approach over legacy positioning. That mindset has driven recent exits from major holdings like Tesla, Meta, Apple, Thermo Fisher, and Danaher.
These sell-offs signal more than portfolio cleanup; they suggest a strategic reset. Rather than sit through flat performance, Loeb appears to be freeing up capital for fresh ideas with untapped potential. For investors tracking Third Point, what’s left behind may be just as telling as what comes next.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
