Third Point LLC, the activist hedge fund managed by Daniel Loeb, has sold its entire stake in Lam Research. The position, consisting of 75,000 shares valued at approximately $16 million, lasted barely a single quarter. The exit is part of a broader pattern of rapid portfolio turnover, with 11 complete sell-offs during the same period. The fund’s 13F portfolio shrank from $7.27 billion to $2.08 billion between end of 2025 and March 31, 2026, a decline of roughly 71%. Lam Research, a semiconductor equipment maker, reported record fiscal Q4 2026 results driven by surging demand for chips used in AI infrastructure.
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