Daniel Loeb

Daniel Loeb executed a sweeping portfolio reshuffle in Q2 2026, adding a net $2.3B across more than a dozen positions while trimming selectively — reshuffling roughly 56% of his disclosed book in a single quarter. The headline move was in Communication Services, where Loeb added a net $889M — about 22% of his book. The centerpiece was a new 20-million-share stake in Warner Bros. Discovery worth $533.2M, his largest single new position in the quarter, paired with a $316M addition to Alphabet that expanded his GOOGL holding by 486% quarter-over-quarter, plus two smaller GOOGL tranches totaling $76.3M. Information Technology received a net $559.7M — 14% of book. New stakes in Keysight Technologies ($204.8M, 4% of book), Flex ($166.9M, 4% of book), and XYZ ($194.5M, 4% of book) drove the bulk of that increase, alongside additions to HUT and TDG. Industrials gained a net $347M — 8% of book — with TransDigm up 216% quarter-over-quarter and new names including TTMI and PFGC. On the trim side, Loeb reduced Amazon for a third consecutive quarter and pared back MasTec and Carpenter Technology, though those cuts were modest relative to the scale of new deployment. The common thread across the quarter's moves is a shift toward large-cap technology anchors and a broad spread of smaller industrial and semiconductor names — breadth over concentration.