Daniel Loeb

Full summary

Loeb executed a broad portfolio reshuffle in Q2 2026, deploying capital across 16 new positions while trimming select existing holdings. The largest move was opening an 11% position in WBD with 20.0M shares valued at $533.2M, signaling a major bet on the media and entertainment space. Simultaneously, Loeb added substantially to GOOGL, increasing the position by 850.0k shares (+$316.0M, +486% QoQ) to reach 7% of his disclosed book—his most aggressive expansion in the tech giant on record with the window. New positions in FLEX ($166.9M, 4% of portfolio), XYZ ($194.5M, 4% of portfolio), and KEYS ($204.8M, 4% of portfolio) rounded out the quarter's largest deployments, alongside smaller initiations in TTMI, PFGC, SYY, and a slate of micro-cap and alternative-asset names (RIOT, LAR, EROC, WOLF, ARES). Loeb also added to existing positions in TDG (+$76.3M, +216% QoQ), HUT (+$111.0M, +51% QoQ), APG (+$39.1M, +41% QoQ), and SGI (+$33.7M, +13% QoQ). Trims were surgical: AMZN was reduced by 190.0k shares for a 3rd consecutive quarter (−10% QoQ), while CRS fell 31% QoQ and MTZ declined 9% QoQ. The window reveals a portfolio in transition—heavy new deployment in media (WBD), semiconductors and infrastructure (KEYS, FLEX), and tech (GOOGL), paired with disciplined exits from cloud and select industrials. The pattern suggests Loeb is repositioning away from mega-cap cloud exposure toward a mix of undervalued media, specialized semiconductors, and contract manufacturing.

Underlying filings

1. Institutional holdingDaniel LoebJun 30, 2026Opened position in GOOGL · 1.3M shares · $66.2M
2. Institutional holdingDaniel LoebJun 30, 2026Opened position in APLD · 22.0k shares · $820.6k
3. Institutional holdingDaniel LoebJun 30, 2026Trimmed MTZ · −30.0k shares · +$17.7M
4. Institutional holdingDaniel LoebJun 30, 2026Opened position in KEYS · 585.0k shares · $204.8M
5. Institutional holdingDaniel LoebJun 30, 2026Opened position in TTMI · 505.0k shares · $94.4M
6. Institutional holdingDaniel LoebJun 30, 2026Added to APG · +835.0k shares · +$39.1M
7. Institutional holdingDaniel LoebJun 30, 2026Opened position in SYY · 580.0k shares · $48.2M
8. Institutional holdingDaniel LoebJun 30, 2026Opened position in RIOT · 3.5M shares · $7.0M
9. Institutional holdingDaniel LoebJun 30, 2026Opened position in LAR · 625.0k shares · $611.8k
10. Institutional holdingDaniel LoebJun 30, 2026Opened position in EROC · 83.0k shares · $1.2M
11. Institutional holdingDaniel LoebJun 30, 2026Added to HUT · +445.4k shares · +$111.0M
12. Institutional holdingDaniel LoebJun 30, 2026Opened position in GOOGL · 200.0k shares · $10.1M
13. Institutional holdingDaniel LoebJun 30, 2026Opened position in WBD · 20.0M shares · $533.2M
14. Institutional holdingDaniel LoebJun 30, 2026Trimmed AMZN · −190.0k shares · +$13.1M
15. Institutional holdingDaniel LoebJun 30, 2026Opened position in PFGC · 675.0k shares · $75.5M
16. Institutional holdingDaniel LoebJun 30, 2026Trimmed CRS · −95.0k shares · +$10.4M
17. Institutional holdingDaniel LoebJun 30, 2026Opened position in WOLF · 10.0k shares · $482.5k
18. Institutional holdingDaniel LoebJun 30, 2026Added to GOOGL · +850.0k shares · +$316.0M
19. Institutional holdingDaniel LoebJun 30, 2026Added to TDG · +54.0k shares · +$76.3M
20. Institutional holdingDaniel LoebJun 30, 2026Opened position in FLEX · 1.0M shares · $166.9M
21. Institutional holdingDaniel LoebJun 30, 2026Opened position in XYZ · 2.6M shares · $194.5M
22. Institutional holdingDaniel LoebJun 30, 2026Added to SGI · +300.0k shares · +$33.7M
23. Institutional holdingDaniel LoebJun 30, 2026Opened position in ARES · 375.0k shares · $41.7M