Daniel Loeb’s Third Level purchased right into a pair of struggling shopper shares within the last months of 2025. Loeb created positions value greater than $174 million and $58 million in fast-casual chain Chipotle and music streaming platform Spotify within the fourth quarter, in response to regulatory fillings. Each strikes got here amid tough quarters. Chipotle tumbled greater than 5% within the last three months of the 12 months, ending 2025 down greater than 38%. Spotify plunged greater than 16% within the quarter, however nonetheless completed the 12 months larger by practically 30%. SPOT CMG 1Y mountain Spotify and Chipotle, 1-year Chipotle has gained greater than 2% within the new buying and selling 12 months. However Spotify has dropped greater than 20%, on tempo for its worst quarter since 2022. The vast majority of analysts have purchase rankings on each Chipotle and Spotify, in response to LSEG. Common worth targets recommend Chipotle can acquire round 18%, whereas Spotify can soar greater than 42%. Loeb additionally greater than doubled his place in Union Pacific , lifting its worth above $418 million. The railroad inventory is now the fund’s fifth-largest holding, in response to InsiderScore. The Columbia grad moreover created new stakes in Constellation Power and Alibaba . However, Loeb offered off positions in Flutter , Meta and Talen Power .