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 |
AGN
Allergan plc
AGN
|
+$587M |
| 2 |
Fidelity National Information Services
FIS
|
+$332M |
| 3 |
Salesforce
CRM
|
+$182M |
| 4 |
Burlington
BURL
|
+$147M |
| 5 |
Five Below
FIVE
|
+$103M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baxter International
BAX
|
+$525M |
| 2 |
WP
Worldpay, Inc.
WP
|
+$270M |
| 3 |
Marathon Petroleum
MPC
|
+$224M |
| 4 |
Netflix
NFLX
|
+$184M |
| 5 |
Ross Stores
ROST
|
+$164M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 39.63% |
| 2 | Technology | 17.52% |
| 3 | Industrials | 14.71% |
| 4 | Consumer Staples | 9.67% |
| 5 | Financials | 8.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baxter International
BAX
$13.6B
| $1.47B | 17.51% |
16,850,000
-6,150,000
| -27% | -$525M |
|
2
RTX Corp
RTX
$283B
| $819M | 9.73% |
9,534,000
| – | – |
|
3
Campbell Soup
CPB
$7.14B
| $798M | 9.48% |
17,000,000
-1,500,000
| -8% | -$64.8M |
|
|
AGN
4
DELISTED
Allergan plc
AGN
| $606M | 7.2% |
+3,600,000
| New | +$587M |
|
5
Danaher
DHR
$154B
| $536M | 6.37% |
4,184,880
| – | – |
|
|
BID
6
DELISTED
Sotheby's
BID
| $380M | 4.51% |
6,661,604
| – | – |
|
|
7
Salesforce
CRM
$171B
| $371M | 4.41% |
2,500,000
+1,200,000
| +92% | +$182M |
|
|
8
Fidelity National Information Services
FIS
$21.3B
| $332M | 3.94% |
+2,499,989
| New | +$332M |
|
|
9
Burlington
BURL
$20.6B
| $300M | 3.56% |
1,500,000
+800,000
| +114% | +$147M |
|
10
IQVIA
IQV
$42.8B
| $299M | 3.55% |
2,000,000
+400,000
| +25% | +$62.2M |
|
11
PayPal
PYPL
$52.7B
| $280M | 3.32% |
2,700,000
-800,000
| -23% | -$88.1M |
|
12
Visa
V
$693B
| $258M | 3.07% |
1,500,000
| – | – |
|
13
Fox Class A
FOXA
$28.8B
| $252M | 3% |
8,000,000
-2,500,000
| -24% | -$86.5M |
|
14
Adobe
ADBE
$109B
| $228M | 2.71% |
825,000
-100,000
| -11% | -$29.2M |
|
15
Boston Scientific
BSX
$73B
| $203M | 2.42% |
5,000,000
-500,000
| -9% | -$21.2M |
|
16
S&P Global
SPGI
$127B
| $196M | 2.33% |
800,000
+40,000
| +5% | +$10M |
|
|
GB
17
DELISTED
Global Blue Group Holding
GB
| $160M | 1.91% |
15,692,500
| – | – |
|
|
18
Five Below
FIVE
$13.8B
| $107M | 1.27% |
+850,000
| New | +$103M |
|
|
BKI
19
DELISTED
Black Knight, Inc. Common Stock
BKI
| $107M | 1.27% |
1,750,000
| – | – |
|
20
Centene
CNC
$32.1B
| $104M | 1.23% |
2,400,000
-100,000
| -4% | -$4.87M |
|
21
Sony
SONY
$140B
| $88.7M | 1.05% |
7,500,000
| – | – |
|
22
Microsoft
MSFT
$3.59T
| $83.4M | 0.99% |
600,000
| – | – |
|
23
Enovis
ENOV
$1.5B
| $58.1M | 0.69% |
1,162,000
| – | – |
|
24
Americold
COLD
$4.35B
| $47.5M | 0.56% |
1,280,000
| – | – |
|
|
FPAC.U
25
DELISTED
Far Point Acquisition Corporation Units, each consisting of one share of Class A common stock, $0.00
FPAC.U
| $42.8M | 0.51% |
4,000,000
| – | – |
|
Similar funds
Daniel Loeb's Q3 2019 Portfolio in Review
As of Q3 2019, Daniel Loeb held 53 positions worth $8.42B, down 1.4% from $8.54B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Daniel Loeb withdrew a net $282M in Q3 2019, closing 13 positions and reducing 9 holdings. Its most notable exit was Worldpay, Inc., an estimated $270M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 40% of assets, up from 36% a quarter earlier, followed by Technology and Industrials.
Against the trend, Daniel Loeb opened a new position in Allergan plc worth $606M.
- Daniel Loeb's largest Q3 2019 buy was Allergan plc: 3,600,000 shares worth $606M.
- Daniel Loeb added most to Salesforce in Q3 2019, an estimated $182M increase.
- Daniel Loeb's biggest Q3 2019 reduction was Baxter International, cutting an estimated $525M.
- Daniel Loeb fully exited Worldpay, Inc. in Q3 2019, selling an estimated $270M.
- Daniel Loeb's ten largest holdings make up 70% of its $8.42B portfolio in Q3 2019.
- Daniel Loeb opened 11 new positions and closed 13 in Q3 2019.
- Daniel Loeb's portfolio value fell 1.4% quarter-over-quarter to $8.42B.
Based on Third Point's 13F filing for Q3 2019, filed 14 Nov 2019.