2 Strong Mid-Cap Growth Stocks Dan Loeb Bought in Q3

Dan Loeb of Third Point is a brilliant investor worth watching closely whenever the 13F filings roll in. He’s a billionaire activist investor who seems to know how to spot value in even an arguably expensive market. Further, he’s not afraid to pick up shares of a fallen company in distress, either due to operational issues or leadership question marks.

While Loeb might not be active with all of his positions, I do think that he tends to spot out shares of marked-down companies that have problems that are more than solvable, either due to strategic shifts or a change in the management team. Either way, his value investment style, I believe, is perfect for today’s red-hot market, which may reward investors in individual stocks rather than indexers.

Undoubtedly, the mid-cap stocks, which may be a bit underrepresented in the portfolio of the average investor, might be worth a second look. Not only are such names capable of greater growth, but they may also offer deeper value and timelier catalysts that could pave the way for better results over the next couple of years.

In this piece, we’ll have a closer look at two mid-cap stocks that Loeb’s Third Point picked up in the third quarter of 2025. Each name seems to scream “growth at a reasonable price.”

Sharkninja

First, we have SharkNinja (NYSE:SN), a relatively affordable appliance maker that’s growing at an impressive pace. While the pace of gains has since slowed, with shares fluctuating wildly over the past year, while gaining around the same as the S&P (up close to 18%), SharkNinja stands out as a disruptive up-and-comer with a winning strategy and excellent stewardship.

Undoubtedly, SharkNinja stands out as a passive position for Third Point. With the firm doing just about everything right, I do see SharkNinja as a consumer discretionary that can do well, even when spending isn’t in a hot spot. 

Why? SharkNinja’s appliances just seem to do a lot of things better and at a reasonable price point. As a company whose designers and innovators actually listen to feedback, I see the $16 billion company as a long-term growth play to simply stash away, especially while the multiple is at a reasonable 28.1 times trailing price-to-earnings (P/E).

The cordless Shark vacuums and Ninja air fryers have been especially hot sellers of late, especially going into the holidays.

In my view, SharkNinja is an innovator that’s willing to spend money to disrupt product categories that might be a bit guilty of underspending on R&D and overspending on marketing initiatives. As long as SharkNinja continues creating great products, my guess is they will sell. And as the firm gets more capable in certain product categories, the greater its share-taking potential.

Bausch Health Companies

Bausch Health Companies (NYSE:BHC) is a recent Third Point purchase that many retail investors have probably never heard of. The $2.6 billion specialty healthcare firm appears like a deep-value stock now that it’s going for just 7.4 times trailing P/E. As the firm deleverages its balance sheet while leveraging Shibo Group distributor to further expand into the lucrative Chinese market, there’s the growth potential, especially as the firm narrows its focus to its higher-margin therapeutics businesses.

Undoubtedly, Bausch Health Companies has become quite a popular hedge fund buy in recent quarters, probably due to the heavily discounted valuation and growth strategy that might just pave the way for a big re-rating in the stock.

For now, Bausch Health remains a very tiny slice of the Third Point pie (comprising less than 0.01% of the portfolio). Still, it’s a remarkable name, especially if the tiny initial nibble is followed up by bigger bites.