Dan Loeb's Third Point Buys Then Sells Gold Stake in Q1 and Q2 2026
Billionaire activist investor Dan Loeb’s firm, Third Point LLC, bought a $40.87 million stake in the SPDR Gold Shares ETF (GLD) during the first quarter of 2026 but sold it entirely by June 30 as revealed in its Q2 13F filing. The move occurred amid one of gold’s most volatile periods in years, with prices fluctuating between record highs and sharp declines before rebounding later in August. Gold initially hit a high above $5,500 an ounce in January but dropped to around $4,100 by late March when Third Point acquired the stake. The price continued falling below $4,000 by June as Loeb’s firm exited its position before gold rebounded nearly 10% in August. Despite this recovery, prices have since pulled back slightly due to rising expectations of Federal Reserve rate hikes and geopolitical tensions. The timing of Third Point's trade did not align with the subsequent rally in gold, suggesting a missed opportunity for gains. Meanwhile, billionaire Ray Dalio has continued advocating for increased gold allocations amid concerns over U.S. fiscal deficits.
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