Third Point adds Norfolk Southern, cuts Apollo in Q3

Third Point disclosed in an SEC filing its holdings as of September 30, 2025. The fund’s new buys during Q3 included, by size of position, Norfolk Southern (NSC), Somnigroup (SGI), Union Pacific (UNP), MasTec (MTZ), and Floor & Decor (FND). Third Point exited a number of positions during the quarter, including by size of previous position Corpay (CPAY), Intercontinental Exchange (ICE), RB Global (RBA), Workday (WDAY), and Flowserve (FLS). The fund increased its stake in Microsoft (MSFT), Casey’s (CASY), Nvidia (NVDA), SharkNinja (SN), and Comfort Systems USA (FIX), and reduced its stake in Apollo (APO), Capital One (COF), Danaher (DHR), Talen Energy (TLN), and Live Nation (LYV). The fund’s top holdings as of September 30, in order of size, were PG&E (PCG), Amazon (AMZN), Microsoft, Nvidia, and Norfolk Southern

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