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Dan Loeb's Portfolio Feels The Strain As Tesla, Amazon, PG&E Lose Ground

In February, Third Point Investors Limited's share price returned 1.2%, reflecting a narrowing of the discount to NAV from 22.3% to 19.6%.

Meanwhile, Third Point Investors Limited returned -2.3% on a NAV basis, underperforming the MSCI World Index (-0.7%) and the S&P 500 Index (-1.3%) for the month.

Three of Dan Loeb‘s key holdings contributed to February’s underperformance:

Tesla, Inc. (NASDAQ:TSLA) shares dropped around 40% compared to Vanguard Consumer Discretion ETF (NYSE:VCR) decline of about 14% YTD.

Third Point LLC held 500,000 shares as of the fourth quarter of 2024, an increase from 400,000 shares in the third quarter of 2024.

Major events:

In January, Tesla reported fourth-quarter revenue of $25.71 billion, which missed a consensus of $27.26 billion and EPS of 73 cents, came below estimate of 76 cents.

According to the Wall Street consensus, Tesla is expected to record 422,000 deliveries, up 9% year-on-year in March. However, Gene Munster, the managing partner at Deepwater Asset ...