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 |
Centene
CNC
|
+$135M |
| 2 |
Burlington
BURL
|
+$114M |
| 3 |
GTT
GTT Communications, Inc.
GTT
|
+$94.7M |
| 4 |
Chemours
CC
|
+$70M |
| 5 |
Tradeweb Markets
TW
|
+$41.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
DuPont de Nemours
DD
|
+$466M |
| 2 |
Baxter International
BAX
|
+$388M |
| 3 |
Constellation Brands
STZ
|
+$184M |
| 4 |
CELG
Celgene Corp
CELG
|
+$165M |
| 5 |
American Express
AXP
|
+$164M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 36.47% |
| 2 | Technology | 14.3% |
| 3 | Industrials | 13.68% |
| 4 | Financials | 10.28% |
| 5 | Consumer Staples | 8.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baxter International
BAX
$13.6B
| $1.88B | 22.06% |
23,000,000
-5,000,000
| -18% | -$388M |
|
2
RTX Corp
RTX
$283B
| $781M | 9.15% |
9,534,000
-762,720
| -7% | -$63.8M |
|
3
Campbell Soup
CPB
$7.14B
| $741M | 8.68% |
18,500,000
-2,500,000
| -12% | -$98.2M |
|
4
Danaher
DHR
$154B
| $530M | 6.21% |
4,184,880
| – | – |
|
5
PayPal
PYPL
$52.7B
| $401M | 4.69% |
3,500,000
| – | – |
|
|
BID
6
DELISTED
Sotheby's
BID
| $387M | 4.53% |
6,661,604
| – | – |
|
7
Fox Class A
FOXA
$28.8B
| $385M | 4.51% |
10,500,000
+745,000
| +8% | +$27.4M |
|
8
Adobe
ADBE
$109B
| $273M | 3.19% |
925,000
+25,000
| +3% | +$6.94M |
|
|
WP
9
DELISTED
Worldpay, Inc.
WP
| $270M | 3.16% |
2,200,000
| – | – |
|
10
Visa
V
$693B
| $260M | 3.05% |
1,500,000
| – | – |
|
11
IQVIA
IQV
$42.8B
| $257M | 3.01% |
1,600,000
-30,000
| -2% | -$4.21M |
|
12
Boston Scientific
BSX
$73B
| $236M | 2.77% |
5,500,000
+500,000
| +10% | +$19.2M |
|
13
Marathon Petroleum
MPC
$101B
| $224M | 2.62% |
4,000,000
+500,000
| +14% | +$27.4M |
|
14
Salesforce
CRM
$171B
| $197M | 2.31% |
1,300,000
+125,000
| +11% | +$19.6M |
|
15
Netflix
NFLX
$331B
| $184M | 2.15% |
5,000,000
+1,000,000
| +25% | +$36.1M |
|
16
S&P Global
SPGI
$127B
| $173M | 2.03% |
760,000
| – | – |
|
17
Ross Stores
ROST
$76.7B
| $164M | 1.92% |
1,650,000
+50,000
| +3% | +$4.87M |
|
|
GB
18
DELISTED
Global Blue Group Holding
GB
| $160M | 1.87% |
15,692,500
| – | – |
|
|
19
Centene
CNC
$32.1B
| $131M | 1.54% |
+2,500,000
| New | +$135M |
|
|
20
Burlington
BURL
$20.6B
| $119M | 1.39% |
+700,000
| New | +$114M |
|
|
BKI
21
DELISTED
Black Knight, Inc. Common Stock
BKI
| $105M | 1.23% |
1,750,000
| – | – |
|
|
22
Chemours
CC
$2.4B
| $105M | 1.23% |
4,375,000
+2,375,000
| +119% | +$70M |
|
23
Microsoft
MSFT
$3.59T
| $80.4M | 0.94% |
600,000
+100,000
| +20% | +$12.7M |
|
24
Sony
SONY
$140B
| $78.6M | 0.92% |
7,500,000
| – | – |
|
25
Enovis
ENOV
$1.5B
| $56.1M | 0.66% |
1,162,000
| – | – |
|
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Daniel Loeb's Q2 2019 Portfolio in Review
As of Q2 2019, Daniel Loeb held 47 positions worth $8.54B, down 5.1% from $8.99B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Daniel Loeb withdrew a net $795M in Q2 2019, closing 5 positions and reducing 5 holdings. Its most notable exit was DuPont de Nemours, an estimated $466M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 36% of assets, down from 38% a quarter earlier, followed by Technology and Industrials.
Against the trend, Daniel Loeb opened a new position in Centene worth $131M.
- Daniel Loeb's largest Q2 2019 buy was Centene: 2,500,000 shares worth $131M.
- Daniel Loeb added most to Chemours in Q2 2019, an estimated $70M increase.
- Daniel Loeb's biggest Q2 2019 reduction was Baxter International, cutting an estimated $388M.
- Daniel Loeb fully exited DuPont de Nemours in Q2 2019, selling an estimated $466M.
- Daniel Loeb's ten largest holdings make up 69% of its $8.54B portfolio in Q2 2019.
- Daniel Loeb opened 16 new positions and closed 5 in Q2 2019.
- Daniel Loeb's portfolio value fell 5.1% quarter-over-quarter to $8.54B.
Based on Third Point's 13F filing for Q2 2019, filed 13 Aug 2019.