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Daniel Loeb Third Point

AUM $4.68B
1-Year Est. Return 37.3%
 

Daniel Loeb is the founder of Third Point, an event-driven and activist-oriented hedge fund. He is known for pointed letters to management teams, catalyst-driven investing, and a flexible mandate across equities and credit. Loeb’s campaigns and portfolio shifts regularly generate attention beyond specialist hedge fund circles.

This Fund
S&P 500
This Quarter Est. Return
+17.54%
1 Year Est. Return
+37.3%
3 Year Est. Return
+159.48%
5 Year Est. Return
+329.12%
10 Year Est. Return
+1,791.94%
AUM
$10B
AUM Growth
+$2.69B
Cap. Flow
+$1.5B
Cap. Flow %
15.04%
Top 10 Hldgs %
56.81%
Holding
56
New
20
Increased
10
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
PCG icon
PG&E
PCG
+$787M
2
MSFT icon
Microsoft
MSFT
+$231M
3
FTV icon
Fortive
FTV
+$217M
4
TDG icon
TransDigm Group
TDG
+$205M
5
EXPE icon
Expedia Group
EXPE
+$146M

Top Sells

Rank Stock Value
1
BAX icon
Baxter International
BAX
+$344M
2
RTX icon
RTX Corp
RTX
+$324M
3
NKE icon
Nike
NKE
+$123M
4
EVRG icon
Evergy
EVRG
+$88.9M
5
ATVI
Activision Blizzard
ATVI
+$85.4M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 30.85%
2 Technology 22.29%
3 Communication Services 15.75%
4 Healthcare 11.17%
5 Utilities 7.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVTR icon
26
Avantor
AVTR
$9.78B
$112M 1.12%
+5,000,000
New +$104M
ETRN
27
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
$110M 1.1%
13,000,000
+3,000,000
+30% +$29.3M
INTU icon
28
Intuit
INTU
$100B
$97.9M 0.98%
300,000
+100,000
+50% +$31.3M
PCGU
29
DELISTED
PG&E Corporation
PCGU
$78.5M 0.78%
+800,000
New +$78.3M
GB
30
DELISTED
Global Blue Group Holding
GB
$72.4M 0.72%
10,421,052
-5,271,448
-34% -$49.1M
CZR icon
31
Caesars Entertainment
CZR
$6.06B
$56.1M 0.56%
+1,000,000
New +$43.9M
BFT.U
32
DELISTED
Foley Trasimene Acquisition Corp. II Units, each consisting of one share of Class A common stock, an
BFT.U
$51M 0.51%
+5,000,000
New +$51.1M
PLNT icon
33
Planet Fitness
PLNT
$4.09B
$47.6M 0.48%
+772,200
New +$44.4M
RTP.U
34
DELISTED
Reinvent Technology Partners Units, each consisting of one Class A ordinary share and one-fourth of
RTP.U
$34.5M 0.34%
+3,000,000
New +$34.5M
GOAC.U
35
DELISTED
GO Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-third of on
GOAC.U
$30.2M 0.3%
+3,000,000
New +$30M
KDMN
36
DELISTED
Kadmon Holdings, Inc.
KDMN
$29.8M 0.3%
7,601,115
– –
GDRX icon
37
GoodRx Holdings
GDRX
$1.18B
$27.8M 0.28%
+500,000
New +$26.5M
CRHC.U
38
DELISTED
Cohn Robbins Holdings Corp. Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
CRHC.U
$25.2M 0.25%
+2,500,000
New +$25.3M
PLTR icon
39
Palantir
PLTR
$432B
$21.3M 0.21%
+2,356,991
New +$22.4M
TXG icon
40
10x Genomics
TXG
$8.48B
$15.4M 0.15%
+123,268
New +$12.9M
BMY.RT
41
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$13.5M 0.14%
6,000,000
– –
RPLA.U
42
DELISTED
Replay Acquisition Corp.
RPLA.U
$10.5M 0.11%
1,000,000
– –
PTVE
43
DELISTED
Pactiv Evergreen Inc. Common stock
PTVE
$6.35M 0.06%
+500,000
New +$6.27M
CD
44
DELISTED
Chindata Group Holdings Limited American Depositary Shares
CD
$5.68M 0.06%
+350,000
New +$5.68M
SHY icon
45
iShares 1-3 Year Treasury Bond ETF
SHY
$25.5B
$4.16M 0.04%
48,027
+9,283
+24% +$803K
GB.WS
46
DELISTED
Global Blue Group Holding AG Warrants exercisable for one Ordinary Share of Global Blue Group Holding AG at a price of $11.50 per share
GB.WS
$852K 0.01%
+1,333,333
New +$789K
BAX icon
47
Baxter International
BAX
$13.6B
– –
-4,000,000
Closed -$344M
CNNE icon
48
Cannae Holdings
CNNE
$672M
– –
-181,000
Closed -$7.44M
EVRG icon
49
Evergy
EVRG
$18.7B
– –
-1,500,000
Closed -$88.9M
NKE icon
50
Nike
NKE
$60.5B
– –
-1,250,000
Closed -$123M
1
2
3

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Daniel Loeb's Q3 2020 Portfolio in Review

As of Q3 2020, Daniel Loeb held 56 positions worth $10B, up 37% from $7.3B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Daniel Loeb deployed $1.5B of net new capital in Q3 2020, opening 20 new positions and adding to 10 existing holdings. Its largest new stake was PG&E: 84,935,257 shares worth $798M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, up from 31% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Global Blue Group Holding, an estimated $49.1M trimmed.

  • Daniel Loeb's largest Q3 2020 buy was PG&E: 84,935,257 shares worth $798M.
  • Daniel Loeb added most to Alibaba in Q3 2020, an estimated $138M increase.
  • Daniel Loeb's biggest Q3 2020 reduction was Global Blue Group Holding, cutting an estimated $49.1M.
  • Daniel Loeb fully exited Baxter International in Q3 2020, selling an estimated $344M.
  • Daniel Loeb's ten largest holdings make up 57% of its $10B portfolio in Q3 2020.
  • Daniel Loeb opened 20 new positions and closed 9 in Q3 2020.
  • Daniel Loeb's portfolio value rose 37% quarter-over-quarter to $10B.

Based on Third Point's 13F filing for Q3 2020, filed 13 Nov 2020.