Third Point fully exits SPDR Gold Shares stake in second quarter

Dan Loeb ‘s Third Point LLC fully exited a gold position in the second quarter just months after building the stake and ahead of a price rebound in the weeks that followed. $40.87 Million Stake Makes a Full Round-Trip According to its 13F filing, a quarterly report of investment holdings that must be submitted to the Securities and Exchange Commission within 45 days of the end of each quarter, Third Point opened a new position in the SPDR Gold Shares ETF (NYSE: GLD ) in the first quarter of 2026, buying 95,000 shares at $430.29 apiece for roughly $40.87 million.

The SPDR Gold Shares stake purchase added about 1.96% to Third Point’s portfolio weight at the time.

The filing, filed Aug.

14 and covering positions as of Jun.

30, showed Third Point had sold the entire position.

The round-trip stands out because it happened entirely within gold’s most turbulent stretch in years.

Gold Climbed After Loeb’s Exit The timing looks notable in hindsight.

Gold had already reached a record intraday high above $5,500 an ounce in January 2026 before correcting sharply to around $4,100 by late March, roughly when Third Point built its position.

Gold fell further, dipping below $4,000 an ounce by late June, around the time Third Point fully liquidated its stake.

Gold then rebounded.

Bullion gained roughly 10% in August, trading near $4,435 an ounce after rising above $4,650 earlier in the month.

The rally came after Third Point exited the position in June.

The SPDR Gold Shares ETF is up 10.36% over the past month and roughly 4% year-to-date, reflecting that recovery.

The move hasn’t fully held.

As of Sept.

1, gold has pulled back near a two-week low around $4,432 an ounce, as hawkish Federal Reserve rate-hike expectations offset safe-haven demand tied to escalating tensions between the U.S. and Iran.

Some analysts see it as a pause, not a peak.

Commodity strategists point to central-bank buying and “ fiscal dominance ” as reasons the broader gold rally may still be early.

Not Everyone Is Backing Away Not everyone has stepped back.

In March, billionaire Ray Dalio, speaking at the World Governments Summit in Dubai, called gold “ the safest money ” and warned of a brewing “capital war” among currencies.

Dalio recently urged investors to reduce bond exposure and allocate 10% to 15% of portfolios to gold, warning a U.S. debt crisis could arrive within roughly three years if fiscal deficits go unchecked.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

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