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Daniel Loeb’s Third Point bought into a pair of struggling consumer stocks in the final months of 2025. Loeb created positions worth more than $174 million and $58 million in fast-casual chain Chipotle and music streaming platform Spotify in the fourth quarter, according to regulatory fillings. Both moves came amid rough quarters. Chipotle tumbled more than 5% in the final three months of the year, ending 2025 down more than 38%. Spotify plunged more than 16% in the quarter, but still finished the year higher by nearly 30%. SPOT CMG 1Y mountain Spotify and Chipotle, 1-year Chipotle has gained more than 2% in the new trading year. But Spotify has dropped more than 20%, on pace for its worst quarter since 2022. The majority of analysts have buy ratings on both Chipotle and Spotify, according to LSEG. Average price targets suggest Chipotle can gain around 18%, while Spotify can jump more than 42%. Loeb also more than doubled his position in Union Pacific , lifting its value above $418 million. The railroad stock is now the fund’s fifth-largest holding, according to InsiderScore. The Columbia grad additionally created new stakes in Constellation Energy and Alibaba . On the other hand, Loeb sold off positions in Flutter , Meta and Talen Energy .
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