Loeb's Third Point Boosts Apollo Stake 275%, Soho House 121% In Q1 Bet

by Lekha Gupta Benzinga Editor

Zinger Key Points

Dan Loeb's Third Point significantly increased its stake in Apollo by 275% in Q1 2025, reaching 1.5 million shares.
Third Point boosted its stake in Soho House by 121% in Q1 2025, increasing holdings to 5.2 million shares.
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Activist investor Dan Loeb‘s Third Point LLC has exponentially boosted its investment in Apollo Global Management, Inc. APO and Soho House & Co Inc. SHCO in the first quarter of 2025.

According to recent 13F filings, reflecting his holding as of March 31, 2025, Loeb increased his common stock stake in Apollo to 1.5 million, up from 400,000 in the fourth quarter of 2024, an 275% increase.

This marks a significant turnaround, as the investor earlier slashed shares of Apollo common stock by more than half, from 950,000 in the third quarter of 2024 to 400,000 shares in the fourth quarter of 2024.

Furthermore, Loeb boosted his stake in Soho House to 5.2 million in the first quarter of 2025 from 2.35 million in the fourth quarter of 2024, representing a 121% increase.

Let’s have a look at the major events in both companies.

Apollo Global Management:

On May 13, Apollo’s funds, managed by its hybrid strategies, reached an agreement to acquire a controlling interest in PowerGrid Services for an undisclosed amount.
On May 12, the company’s managed portfolio company of funds, New Home, inked a deal to acquire Landsea Homes (NASDAQ: LSEA) for an enterprise value of around $1.2 billion.
On May 6, Apollo-managed funds penned a deal to acquire maritime liquefied natural gas carrier infrastructure platform Hav Energy LNG Holding AS from HitecVision for an undisclosed amount.
On May 2, the company reported first-quarter adjusted EPS of $1.82, which fell short of the estimated $1.96. However, sales of $5.55 billion exceeded the consensus estimate of $4.64 billion.
Barclays analyst Benjamin Budish raised the price forecast from $145 to $156, while Piper Sandler analyst John Barnidge slashed the price forecast from $193 to $174.
Apollo has dropped nearly 14.8% year to date, compared to the EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF LBO, which fell about 5.9% over the same time frame.

Soho House:

On May 9, the company reported first-quarter EPS of four cents and sales of $282.86 million, which slightly exceeded the consensus estimate of $282.26 million.
In December 2024, the company received a $9.00 per share acquisition offer from a new third-party consortium, an 83% premium to the Dec. 18, 2024, closing price.
A CNBC report, dated Jan. 29, indicated that Loeb is pushing for a sale and process has began for the same.
Year to date, Soho House shares declined around 12.7%, compared to its peer Booking Holdings Inc. BKNG, which rose about 7.1% over the same time frame.