---
title: "Third Point Q4 2025: Dan Loeb Balances PG&E Activism with NVIDIA Growth"
type: research
slug: third-point-q4-2025-7b-pge-activism-nvidia-growth
canonical_url: https://13finsight.com/research/third-point-q4-2025-7b-pge-activism-nvidia-growth
published_at: 2026-04-12T08:19:03.412Z
updated_at: 2026-04-12T08:19:06.807Z
author: Marcus Chen
author_title: Senior Market Analyst
author_url: https://13finsight.com/authors/marcus-chen
word_count: 130
locale: en
source: 13F Insight
---

# Third Point Q4 2025: Dan Loeb Balances PG&E Activism with NVIDIA Growth

> Analyzing Dan Loeb's $7.27 billion 13F for Q4 2025, where distressed utility PG&E shares the top spot with AI leader NVIDIA.

Dan Loeb's Third Point LLC revealed a $7.27 billion portfolio in their Q4 2025 13F, showcasing a sharp pivot into special situations and select mega-cap tech. Unlike massive index-hugging funds, Third Point's 44-position portfolio is built on event-driven catalysts and concentrated value plays. The PCG Utility Play Interestingly, the top holding is not a tech darling, but PG&E Corp (PCG), valued at $551.2 million (7.6%). This reflects Loeb's classic distress-to-value playbook, betting on the utility's turnaround and regulatory stabilization. Right behind it, however, is a $550.2 million stake in NVIDIA (NVDA), balancing the deep-value utility play with aggressive AI growth exposure. Third Point also maintains significant positions in Amazon (AMZN) and Microsoft (MSFT), proving that even activist value investors cannot ignore the secular tailwinds of cloud infrastructure and artificial intelligence.

---

Source: 13F Insight — https://13finsight.com/research/third-point-q4-2025-7b-pge-activism-nvidia-growth
Author: Marcus Chen — https://13finsight.com/authors/marcus-chen
Last updated: 2026-04-12T08:19:06.807Z