Billionaire Activist Investor Dan Loeb Bought Gold, Then Dumped It 3 Months Later — Timing Hasn't Paid Off Yet

Billionaire investor Dan Loeb, through his firm Third Point LLC, made a gold investment in the first quarter of 2026, purchasing 95,000 shares of the SPDR Gold Shares ETF at a price of $430.29 per share, totaling around $40.87 million. This investment added 1.96% to Third Point's portfolio at the time. However, just three months later, in June 2026, Third Point completely exited its gold position.

The investment period came at a turbulent time for gold, as it had reached a record high above $5,500 an ounce in January before falling sharply to approximately $4,100 by late March. By late June, gold had dipped below $4,000 an ounce, aligning with Third Point's decision to sell its entire position. Gold subsequently rebounded, gaining roughly 10% in August, trading near $4,435 an ounce after climbing above $4,650 earlier in the month.

Despite this recovery, as of September 1, 2026, gold has dropped to a two-week low around $4,432 an ounce, influenced by expectations of aggressive Federal Reserve rate hikes amid escalating tensions between the U.S. and Iran. Analysts view this as a temporary pause rather than a peak, suggesting that the broader gold rally may still be in its early stages due to factors like central-bank buying and the influence of fiscal dominance.