Dan Loeb's Third Point revealed a new position in Block Inc. (XYZ) valued at approximately $194.48 million, according to a recent SEC filing. The disclosure, which reflects holdings as of June 30, 2026, showed the firm acquired 2.56 million shares, establishing a 4.16% weight in its portfolio.
This investment was made during a quarter where Block reported strong financial results, raising its full-year guidance. The company's performance in the second quarter was marked by significant growth in gross profit and adjusted operating income, following a major restructuring earlier in the year that included a pivot to artificial intelligence.