Dan Loeb's Third Point LLC fully exited its $40.87 million position in the SPDR Gold Shares ETF (GLD) in Q2 2026, just three months after initiating it. This divestment occurred before a significant rebound in gold prices, indicating a missed opportunity for the activist investor.
This 13F filing reveals that Dan Loeb's Third Point LLC made a quick round-trip on a significant gold investment, buying in Q1 2026 and selling out entirely in Q2 2026. The timing is notable because gold prices subsequently rebounded after Third Point's exit, suggesting a miscalculation by the activist investor. While this doesn't directly impact GLD's fundamentals, it highlights a prominent hedge fund's short-term bearish view on gold that proved incorrect in the immediate aftermath. For traders, this serves as a reminder that even sophisticated investors can misjudge market timing, and it could spark discussions about gold's short-term volatility versus its long-term safe-haven appeal, especially given other billionaires like Ray Dalio advocating for gold exposure.