Return Attribution — Third Point
← Portfolio Analysis
Clone backtest (value-weighted, one-quarter signal lag): each position's contribution = its portfolio weight × next-quarter return. Contribution sums equal the segment return of the clone.
Third Point (13F portfolio cloned at quarter-end weights) delivered a -7.32% return over the 2026-Q2 → latest period. The clone return is the sum of each position's contribution — portfolio weight times next-quarter price return.
Top drivers in 2026-Q2 → latest: AMZN (+0.86%), KEYS (+0.43%), GOOGL (+0.39%). Biggest drags: MTZ (-1.33%), CRH (-1.31%), CRS (-1.15%). Across all 20 segmented periods, 34 stocks made a positive cumulative contribution and 46 subtracted from performance.
This attribution is a diagnostic tool, not a trading signal. The clone uses end-of-quarter holdings (45+ days after filing, so stale by design), applies quarter-end prices only, and ignores intra-quarter trades, shorts, and derivatives that 13F cannot show.
2026-Q2 → latest segment return
-7.32%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| AMZN |
9.9% |
+8.7% |
+0.86% |
| KEYS |
4.9% |
+9.0% |
+0.43% |
| GOOGL |
0.2% |
+162.0% |
+0.39% |
| DHR |
2.4% |
+14.9% |
+0.36% |
| ARES |
1.0% |
+4.0% |
+0.04% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| MTZ |
2.9% |
-46.3% |
-1.33% |
| CRH |
5.6% |
-23.6% |
-1.31% |
| CRS |
3.1% |
-36.6% |
-1.15% |
| FLEX |
4.0% |
-26.4% |
-1.04% |
| SGI |
4.8% |
-21.0% |
-1.0% |
2026-Q1 → 2026-Q2 segment return
+14.55%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| CRS |
5.9% |
+56.6% |
+3.32% |
| HUT |
2.0% |
+146.1% |
+2.86% |
| AMZN |
19.4% |
+14.1% |
+2.74% |
| TSM |
4.5% |
+39.6% |
+1.77% |
| MTZ |
4.9% |
+29.3% |
+1.45% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| TDS |
13.3% |
-12.0% |
-1.6% |
| KLAC |
0.8% |
-79.4% |
-0.62% |
| GLD |
2.0% |
-14.4% |
-0.28% |
| META |
2.5% |
-2.5% |
-0.06% |
| FLYX |
0.1% |
-11.5% |
-0.01% |
2025-Q4 → 2026-Q1 segment return
-5.03%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| MTZ |
3.0% |
+48.0% |
+1.44% |
| CASY |
3.7% |
+31.7% |
+1.19% |
| CRS |
3.7% |
+25.3% |
+0.93% |
| FIX |
1.5% |
+47.8% |
+0.7% |
| UNP |
6.2% |
+5.4% |
+0.34% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| MSFT |
6.7% |
-22.8% |
-1.52% |
| CSGP |
3.2% |
-39.8% |
-1.26% |
| COF |
4.0% |
-24.8% |
-0.98% |
| SGI |
4.5% |
-17.0% |
-0.77% |
| CRH |
4.8% |
-15.5% |
-0.75% |
2025-Q3 → 2025-Q4 segment return
-0.43%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| CRS |
2.5% |
+28.3% |
+0.72% |
| COF |
3.6% |
+14.0% |
+0.5% |
| AMZN |
7.5% |
+5.4% |
+0.41% |
| TSM |
3.7% |
+9.6% |
+0.36% |
| FIX |
2.0% |
+13.2% |
+0.26% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| CSGP |
3.1% |
-20.3% |
-0.63% |
| FLUT |
3.5% |
-15.3% |
-0.53% |
| MSFT |
6.9% |
-6.1% |
-0.42% |
| PRMB |
1.6% |
-25.5% |
-0.4% |
| VST |
2.2% |
-17.5% |
-0.39% |
2025-Q2 → 2025-Q3 segment return
+4.89%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| TLN |
3.3% |
+46.3% |
+1.53% |
| NVDA |
6.4% |
+17.9% |
+1.15% |
| TSM |
4.7% |
+22.9% |
+1.08% |
| CRH |
3.4% |
+30.6% |
+1.05% |
| FIX |
1.4% |
+54.0% |
+0.78% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| PRMB |
2.5% |
-25.1% |
-0.62% |
| KVUE |
2.6% |
-22.5% |
-0.58% |
| FLUT |
4.4% |
-11.1% |
-0.49% |
| CPAY |
3.3% |
-13.2% |
-0.43% |
| LPLA |
3.4% |
-11.3% |
-0.38% |
2025-Q1 → 2025-Q2 segment return
+13.24%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| TSM |
5.2% |
+37.2% |
+1.94% |
| CRS |
2.8% |
+52.7% |
+1.46% |
| NVDA |
2.8% |
+46.5% |
+1.29% |
| AMZN |
7.9% |
+16.0% |
+1.26% |
| VST |
1.8% |
+65.2% |
+1.15% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| KVUE |
3.8% |
-12.7% |
-0.48% |
| TDS |
4.6% |
-8.0% |
-0.37% |
| PRMB |
1.7% |
-16.3% |
-0.28% |
| CPAY |
3.7% |
-4.8% |
-0.18% |
| FTV |
2.5% |
-5.4% |
-0.13% |
2024-Q4 → 2025-Q1 segment return
-6.13%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| ICE |
4.8% |
+16.1% |
+0.77% |
| TDS |
3.2% |
+13.7% |
+0.43% |
| EQT |
2.1% |
+15.9% |
+0.33% |
| PRMB |
1.1% |
+15.7% |
+0.18% |
| CRS |
2.3% |
+6.9% |
+0.16% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| AMZN |
11.7% |
-13.9% |
-1.63% |
| TSLA |
3.1% |
-36.3% |
-1.13% |
| TSM |
5.4% |
-16.6% |
-0.91% |
| DHR |
6.7% |
-10.6% |
-0.71% |
| FLUT |
3.5% |
-14.3% |
-0.5% |
2024-Q3 → 2024-Q4 segment return
+4.45%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| AMZN |
9.3% |
+18.3% |
+1.7% |
| VST |
5.1% |
+16.5% |
+0.84% |
| TSLA |
1.4% |
+53.4% |
+0.75% |
| LYV |
3.4% |
+18.3% |
+0.63% |
| TSM |
4.2% |
+13.8% |
+0.58% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| DHR |
7.3% |
-17.3% |
-1.26% |
| CVS |
1.3% |
-27.8% |
-0.37% |
| ICE |
4.5% |
-7.0% |
-0.31% |
| FERG |
2.6% |
-12.2% |
-0.31% |
| ROP |
1.8% |
-6.3% |
-0.11% |
2024-Q2 → 2024-Q3 segment return
+5.68%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| VST |
4.5% |
+38.2% |
+1.72% |
| PCG |
11.0% |
+13.6% |
+1.5% |
| META |
6.5% |
+13.3% |
+0.86% |
| DHR |
6.0% |
+11.4% |
+0.68% |
| CNK |
1.8% |
+28.8% |
+0.51% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| AMZN |
11.5% |
-3.9% |
-0.45% |
| AAP |
1.1% |
-38.2% |
-0.42% |
| MSFT |
8.3% |
-4.1% |
-0.34% |
| ASML |
1.0% |
-18.5% |
-0.18% |
| VZ |
2.3% |
-4.5% |
-0.1% |
2024-Q1 → 2024-Q2 segment return
+4.22%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| VST |
4.1% |
+23.8% |
+0.97% |
| AMZN |
12.1% |
+7.5% |
+0.91% |
| MSFT |
9.8% |
+6.5% |
+0.64% |
| TSM |
2.1% |
+27.8% |
+0.58% |
| PCG |
12.7% |
+4.1% |
+0.52% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| AAP |
1.7% |
-25.3% |
-0.42% |
| CPAY |
2.6% |
-13.7% |
-0.36% |
| AIG |
3.5% |
-4.5% |
-0.16% |
| UBER |
0.5% |
-5.5% |
-0.03% |
| IT |
0.3% |
-5.8% |
-0.02% |
2023-Q4 → 2024-Q1 segment return
+9.06%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| META |
6.4% |
+37.6% |
+2.4% |
| VST |
2.8% |
+81.4% |
+2.25% |
| AMZN |
9.9% |
+18.5% |
+1.84% |
| MSFT |
11.8% |
+11.8% |
+1.39% |
| DHR |
7.4% |
+8.1% |
+0.59% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
16.2% |
-7.1% |
-1.15% |
| VZ |
2.7% |
-5.5% |
-0.15% |
| TDS |
0.6% |
-11.7% |
-0.07% |
| ICE |
1.4% |
+7.4% |
+0.1% |
| IFF |
2.6% |
+6.7% |
+0.17% |
2023-Q3 → 2023-Q4 segment return
+10.58%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| MSFT |
11.0% |
+18.9% |
+2.08% |
| AMZN |
9.3% |
+19.5% |
+1.82% |
| PCG |
14.4% |
+11.7% |
+1.69% |
| UBER |
3.0% |
+33.9% |
+1.03% |
| META |
5.2% |
+17.8% |
+0.92% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| HTZ |
1.4% |
-15.4% |
-0.22% |
| GOOGL |
1.8% |
+0.0% |
+0.0% |
| TDS |
0.9% |
+1.2% |
+0.01% |
| RRX |
1.5% |
+3.8% |
+0.06% |
| VST |
1.9% |
+16.8% |
+0.31% |
2023-Q2 → 2023-Q3 segment return
-2.81%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| VST |
1.3% |
+27.2% |
+0.36% |
| DHR |
9.4% |
+3.4% |
+0.32% |
| AIG |
2.6% |
+5.9% |
+0.15% |
| BABA |
3.7% |
+4.0% |
+0.15% |
| UBER |
1.8% |
+6.6% |
+0.12% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
14.1% |
-6.7% |
-0.94% |
| HTZ |
2.0% |
-32.9% |
-0.67% |
| MSFT |
7.8% |
-7.3% |
-0.57% |
| TSM |
3.7% |
-14.2% |
-0.53% |
| HCA |
2.7% |
-18.9% |
-0.52% |
2023-Q1 → 2023-Q2 segment return
+2.22%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
16.1% |
+6.7% |
+1.08% |
| MSFT |
5.1% |
+18.0% |
+0.92% |
| HCA |
3.8% |
+15.1% |
+0.58% |
| AIG |
2.5% |
+15.0% |
+0.38% |
| AMD |
1.6% |
+16.2% |
+0.27% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| DHR |
11.7% |
-4.7% |
-0.54% |
| IFF |
3.9% |
-12.5% |
-0.5% |
| BABA |
2.3% |
-18.5% |
-0.42% |
| UNH |
2.7% |
-1.2% |
-0.03% |
| GOOGL |
8.3% |
+0.0% |
+0.0% |
2022-Q4 → 2023-Q1 segment return
-1.54%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| MSFT |
4.8% |
+20.1% |
+0.97% |
| DIS |
1.4% |
+15.2% |
+0.21% |
| HTZ |
1.4% |
+6.4% |
+0.09% |
| JBLU |
0.1% |
+12.2% |
+0.01% |
| TJX |
3.6% |
-1.6% |
-0.06% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| AIG |
5.5% |
-19.8% |
-1.09% |
| DHR |
12.2% |
-4.9% |
-0.6% |
| UNH |
6.1% |
-8.5% |
-0.51% |
| IFF |
4.1% |
-11.4% |
-0.47% |
| PCG |
16.4% |
-0.6% |
-0.09% |
2022-Q3 → 2022-Q4 segment return
+5.32%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
14.8% |
+29.0% |
+4.29% |
| CL |
15.1% |
+12.2% |
+1.84% |
| BBWI |
4.9% |
+29.3% |
+1.45% |
| DD |
2.2% |
+36.2% |
+0.81% |
| TJX |
2.0% |
+28.0% |
+0.57% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| S |
9.0% |
-42.9% |
-3.88% |
| EQT |
2.5% |
-17.0% |
-0.42% |
| CRK |
1.0% |
-20.7% |
-0.2% |
| DIS |
2.5% |
-8.1% |
-0.2% |
| HTZ |
1.6% |
-5.6% |
-0.09% |
2022-Q2 → 2022-Q3 segment return
+4.65%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
15.7% |
+24.9% |
+3.9% |
| EQT |
6.2% |
+18.5% |
+1.15% |
| S |
11.8% |
+9.6% |
+1.13% |
| DHR |
14.0% |
+2.0% |
+0.28% |
| OVV |
6.5% |
+4.1% |
+0.27% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| CVE |
3.3% |
-19.1% |
-0.64% |
| CL |
3.8% |
-12.3% |
-0.47% |
| DD |
4.1% |
-9.3% |
-0.38% |
| CSX |
3.5% |
-8.0% |
-0.28% |
| CCK |
1.8% |
-12.1% |
-0.21% |
2022-Q1 → 2022-Q2 segment return
-10.23%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| SU |
1.5% |
+7.6% |
+0.11% |
| WDC |
0.1% |
-12.0% |
-0.01% |
| UNH |
4.1% |
-0.8% |
-0.03% |
| WGS |
0.2% |
-59.0% |
-0.1% |
| IR |
1.0% |
-16.4% |
-0.17% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
10.9% |
-16.6% |
-1.81% |
| AA |
2.8% |
-49.8% |
-1.4% |
| DHR |
9.6% |
-13.5% |
-1.29% |
| RIVN |
2.0% |
-48.8% |
-0.98% |
| SPGI |
5.2% |
-17.8% |
-0.92% |
2021-Q4 → 2022-Q1 segment return
-7.37%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| UNH |
2.8% |
+2.8% |
+0.08% |
| AES |
1.0% |
+6.6% |
+0.07% |
| TDG |
1.5% |
+2.4% |
+0.04% |
| GOOGL |
4.3% |
+0.0% |
+0.0% |
| PCG |
6.6% |
-0.3% |
-0.02% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| RIVN |
2.9% |
-51.5% |
-1.48% |
| INTU |
5.2% |
-25.2% |
-1.31% |
| DHR |
6.7% |
-10.8% |
-0.72% |
| ACN |
3.6% |
-18.4% |
-0.67% |
| AVTR |
3.2% |
-19.7% |
-0.63% |
2021-Q3 → 2021-Q4 segment return
+2.47%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| PCG |
4.4% |
+26.5% |
+1.16% |
| INTU |
3.3% |
+19.2% |
+0.64% |
| MSFT |
2.5% |
+19.3% |
+0.49% |
| UNH |
1.5% |
+28.4% |
+0.42% |
| SPGI |
2.4% |
+11.1% |
+0.26% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| DIS |
3.9% |
-8.7% |
-0.34% |
| CSGP |
2.7% |
-8.2% |
-0.22% |
| INTC |
2.7% |
-3.5% |
-0.09% |
| V |
1.7% |
-2.8% |
-0.05% |
| META |
1.9% |
-0.7% |
-0.01% |
Cumulative Contribution (all segments)