Third Point Cuts Taiwan Semiconductor Stake 61%, Buys $174.8M Chipotle and $167.8M Constellation
Third Point reduced its Taiwan Semiconductor Manufacturing Co. stake from 1.1 million to 425,000 shares, a 61% cut in Q4 2025. The firm reallocated capital to a new $174.8 million Chipotle position and a $167.8 million Constellation Energy stake, diversifying into consumer and utilities.
1. Q4 2025 Portfolio Reshuffle
In the fourth quarter of 2025, Third Point LLC, led by Daniel Loeb, executed a broad portfolio rebalance, trimming exposure to mega-cap and semiconductor names while initiating fresh positions in consumer, utility and international equities.
2. Taiwan Semiconductor Stake Cut
The fund slashed its Taiwan Semiconductor Manufacturing Co. holding from approximately 1.1 million shares to 425,000 shares, representing a 61% reduction and signaling reduced conviction in near-term semiconductor sector upside.
3. Major New Investments
Proceeds from the TSM sale and other trims funded a $174.8 million stake in Chipotle Mexican Grill, a $167.8 million position in Constellation Energy, as well as new $120.9 million, $114.8 million and $50.1 million stakes in Alibaba, API Group and Progressive, respectively.