Daniel Loeb Third Point
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$387M |
| 2 |
Netflix
NFLX
|
+$385M |
| 3 |
Intercontinental Exchange
ICE
|
+$378M |
| 4 |
AET
Aetna Inc
AET
|
+$318M |
| 5 |
Lennar Class A
LEN
|
+$311M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baxter International
BAX
|
+$321M |
| 2 |
Bank of America
BAC
|
+$310M |
| 3 |
T-Mobile US
TMUS
|
+$237M |
| 4 |
Elevance Health
ELV
|
+$186M |
| 5 |
SHPG
Shire pic
SHPG
|
+$184M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.82% |
| 2 | Financials | 14.34% |
| 3 | Materials | 13.98% |
| 4 | Communication Services | 13.67% |
| 5 | Consumer Discretionary | 13.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baxter International
BAX
$13.6B
| $2.33B | 16.8% |
36,000,000
-5,000,000
| -12% | -$321M |
|
2
DuPont de Nemours
DD
$18.7B
| $1.07B | 7.7% |
5,913,345
-25,077
| -0.4% | -$4.52M |
|
3
Alibaba
BABA
$286B
| $1.03B | 7.47% |
6,000,000
-600,000
| -9% | -$108M |
|
4
Blackrock
BLK
$179B
| $796M | 5.75% |
1,550,000
| – | – |
|
|
5
Alphabet (Google) Class A
GOOGL
$4.22T
| $727M | 5.25% |
13,800,000
+7,500,000
| +119% | +$387M |
|
6
Meta Platforms (Facebook)
META
$1.4T
| $600M | 4.33% |
3,400,000
| – | – |
|
7
Constellation Brands
STZ
$23.2B
| $571M | 4.12% |
2,500,000
| – | – |
|
|
8
Intercontinental Exchange
ICE
$90.5B
| $388M | 2.8% |
+5,500,000
| New | +$378M |
|
|
9
Netflix
NFLX
$331B
| $384M | 2.77% |
+20,000,000
| New | +$385M |
|
|
TWX
10
CALL
DELISTED
Time Warner Inc
TWX
| $366M | 2.64% |
+4,000,000
| New | +$378M |
|
|
BID
11
DELISTED
Sotheby's
BID
| $344M | 2.48% |
6,661,604
| – | – |
|
|
12
Lennar Class A
LEN
$21B
| $335M | 2.42% |
+5,474,900
| New | +$311M |
|
13
Vulcan Materials
VMC
$35.8B
| $334M | 2.41% |
2,600,000
+250,000
| +11% | +$30.5M |
|
|
AET
14
DELISTED
Aetna Inc
AET
| $334M | 2.41% |
+1,850,000
| New | +$318M |
|
15
Danaher
DHR
$154B
| $307M | 2.22% |
3,733,680
+11,280
| +0.3% | +$917K |
|
16
S&P Global
SPGI
$127B
| $305M | 2.2% |
1,800,000
+550,000
| +44% | +$89.8M |
|
|
WP
17
DELISTED
Worldpay, Inc.
WP
| $294M | 2.12% |
4,000,000
+1,250,000
| +45% | +$89.3M |
|
18
Mohawk Industries
MHK
$9.23B
| $276M | 1.99% |
1,000,000
+100,000
| +11% | +$26.8M |
|
19
NXP Semiconductors
NXPI
$56.9B
| $252M | 1.82% |
2,150,000
-550,000
| -20% | -$63.5M |
|
20
Sherwin-Williams
SHW
$84.1B
| $246M | 1.78% |
1,800,000
| – | – |
|
21
FMC
FMC
$1.38B
| $208M | 1.5% |
2,536,600
| – | – |
|
22
Dell
DELL
$286B
| $203M | 1.47% |
8,908,095
| – | – |
|
23
Honeywell
HON
$68.4B
| $196M | 1.41% |
1,411,421
| – | – |
|
|
RSPP
24
DELISTED
RSP Permian, Inc.
RSPP
| $187M | 1.35% |
4,600,000
| – | – |
|
|
TWX
25
DELISTED
Time Warner Inc
TWX
| $183M | 1.32% |
2,000,000
-750,000
| -27% | -$70.9M |
|
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Daniel Loeb's Q4 2017 Portfolio in Review
As of Q4 2017, Daniel Loeb held 51 positions worth $13.9B, up 16% from $11.9B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Daniel Loeb deployed $1.23B of net new capital in Q4 2017, opening 14 new positions and adding to 9 existing holdings. Its largest new stake was Netflix: 20,000,000 shares worth $384M.
By sector, the portfolio is most concentrated in Healthcare at 21% of assets, down from 29% a quarter earlier, followed by Financials and Materials.
On the sell side, the largest reduction was Baxter International, an estimated $321M trimmed.
- Daniel Loeb's largest Q4 2017 buy was Netflix: 20,000,000 shares worth $384M.
- Daniel Loeb added most to Alphabet (Google) Class A in Q4 2017, an estimated $387M increase.
- Daniel Loeb's biggest Q4 2017 reduction was Baxter International, cutting an estimated $321M.
- Daniel Loeb fully exited Bank of America in Q4 2017, selling an estimated $310M.
- Daniel Loeb's ten largest holdings make up 60% of its $13.9B portfolio in Q4 2017.
- Daniel Loeb opened 14 new positions and closed 7 in Q4 2017.
- Daniel Loeb's portfolio value rose 16% quarter-over-quarter to $13.9B.
Based on Third Point's 13F filing for Q4 2017, filed 14 Feb 2018.