Dan Loeb’s Third Point expands AI bets with new stakes in Hut 8 and chip names
Dan Loeb’s Third Point made broad portfolio changes in the first quarter, adding a series of technology and semiconductor-related positions as the hedge fund continued leaning into the artificial-intelligence trade, according to a new regulatory filing. The New York-based firm initiated relatively small positions in chip-equipment makers ASML , Lam Research and KLA , along with semiconductor giant Broadcom . Third Point also disclosed a new stake in the VanEck Semiconductor ETF and aircraft-parts supplier TransDigm Group . The hedge fund also added a position in Hut 8 , the Miami-based energy infrastructure and bitcoin mining company whose shares have surged this year as investors increasingly focus on AI-related power demand and data-center infrastructure opportunities. The stock has more than doubled in 2026. The new additions come as Loeb has increasingly embraced AI as a long-term investment theme. The billionaire investor has previously said companies will increasingly be divided between those that benefit from AI and those left behind. “You’ll either be a beneficiary of AI or AI roadkill,” Loeb said last year. At the same time, Third Point reduced several existing positions during the quarter. The fund cut its stake in Taiwan Semiconductor by 35%, pared holdings in construction materials company CRH PLC by 27%. Amazon remained Third Point’s largest equity holding at the end of March despite a 10% reduction during the quarter. Loeb launched Third Point about three decades ago with roughly $3 million from friends and family. While he built his reputation as one of Wall Street’s most prominent activist investors, the firm has expanded beyond its roots and now manages investments spanning equities, credit and venture strategies.
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