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Daniel Loeb Third Point
AUM
$4.68B
Turnover
50%
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
+8.19%
1 Year Est. Return
+37.3%
3 Year Est. Return
+159.49%
5 Year Est. Return
+329.12%
10 Year Est. Return
+1,791.94%
AUM
$8.7B
AUM Growth
+$280M
(+3.3%)
Cap. Flow
-$324M
Cap. Flow % of AUM
Cap. Flow %
-3.73%
Top 10 Holdings %
Top 10 Hldgs %
67.38%
Holding
51
New
11
Increased
7
Reduced
7
Closed
14
Avg Time Held
1
year
Top 10 Avg Time Held
0.9
years
Top 20 Avg Time Held
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
IAA
IAA, Inc. Common Stock
IAA
|
+$274M |
| 2 |
TD Ameritrade Holding Corp
AMTD
|
+$130M |
| 3 |
Amazon
AMZN
|
+$124M |
| 4 |
RTN
Raytheon Company
RTN
|
+$117M |
| 5 |
Avantor
AVTR
|
+$111M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BID
Sotheby's
BID
|
+$380M |
| 2 |
PayPal
PYPL
|
+$280M |
| 3 |
Campbell Soup
CPB
|
+$123M |
| 4 |
RTX Corp
RTX
|
+$114M |
| 5 |
Fox Class A
FOXA
|
+$103M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 41.13% |
| 2 | Technology | 16.16% |
| 3 | Consumer Discretionary | 10.8% |
| 4 | Industrials | 10.37% |
| 5 | Consumer Staples | 8.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Baxter International
BAX
$12.8B
| $1.46B | 16.83% |
17,500,000
+650,000
| +4% | +$53.8M |
2015 Q2
18 quarters
|
|
|
2
RTX Corp
RTX
$258B
| $780M | 8.97% |
8,273,923
-1,260,077
| -13% | -$114M |
2019 Q1
3 quarters
|
|
|
3
Campbell Soup
CPB
$5.83B
| $712M | 8.18% |
14,400,000
-2,600,000
| -15% | -$123M |
2018 Q2
6 quarters
|
|
|
AGN
4
DELISTED
Allergan plc
AGN
| $688M | 7.91% |
3,600,000
| – | – |
2019 Q3
1 quarter
|
|
5
Danaher
DHR
$164B
| $569M | 6.55% |
4,184,880
| – | – |
2015 Q3
17 quarters
|
|
6
Salesforce
CRM
$199B
| $358M | 4.11% |
2,200,000
-300,000
| -12% | -$47M |
2018 Q1
7 quarters
|
|
7
Fidelity National Information Services
FIS
$18.8B
| $348M | 4% |
2,500,000
+11
| +0% | +$1.48K |
2019 Q3
1 quarter
|
|
8
Burlington
BURL
$15.6B
| $319M | 3.67% |
1,400,000
-100,000
| -7% | -$20.9M |
2019 Q2
2 quarters
|
|
9
Adobe
ADBE
$99.3B
| $313M | 3.6% |
950,000
+125,000
| +15% | +$36.8M |
2018 Q1
7 quarters
|
|
10
IQVIA
IQV
$45.5B
| $309M | 3.55% |
2,000,000
| – | – |
2018 Q3
5 quarters
|
|
|
IAA
11
DELISTED
IAA, Inc. Common Stock
IAA
| $306M | 3.52% |
+6,500,000
| New | +$274M |
2019 Q4
0 quarters
|
|
12
Visa
V
$766B
| $282M | 3.24% |
1,500,000
| – | – |
2018 Q2
6 quarters
|
|
13
Boston Scientific
BSX
$64.5B
| $226M | 2.6% |
5,000,000
| – | – |
2019 Q1
3 quarters
|
|
14
S&P Global
SPGI
$131B
| $218M | 2.51% |
800,000
| – | – |
2016 Q2
14 quarters
|
|
|
15
Fox Class A
FOXA
$27.8B
| $185M | 2.13% |
5,000,000
-3,000,000
| -38% | -$103M |
2019 Q1
3 quarters
|
|
16
DELISTED
Global Blue Group Holding
GB
| $162M | 1.86% |
15,692,500
| – | – |
2018 Q2
6 quarters
|
|
17
Five Below
FIVE
$12.3B
| $153M | 1.76% |
1,200,000
+350,000
| +41% | +$43.8M |
2019 Q3
1 quarter
|
|
18
Centene
CNC
$34.7B
| $151M | 1.74% |
2,400,000
| – | – |
2019 Q2
2 quarters
|
|
|
19
DELISTED
TD Ameritrade Holding Corp
AMTD
| $149M | 1.71% |
+3,000,000
| New | +$130M |
2019 Q4
0 quarters
|
|
|
20
Amazon
AMZN
$2.83T
| $129M | 1.49% |
+1,400,000
| New | +$124M |
2019 Q4
0 quarters
|
|
|
21
Avantor
AVTR
$11.7B
| $127M | 1.46% |
+7,000,000
| New | +$111M |
2019 Q4
0 quarters
|
|
|
BKI
22
DELISTED
Black Knight, Inc. Common Stock
BKI
| $123M | 1.41% |
1,900,000
+150,000
| +9% | +$9.29M |
2019 Q1
3 quarters
|
|
|
RTN
23
DELISTED
Raytheon Company
RTN
| $122M | 1.4% |
+555,200
| New | +$117M |
2019 Q4
0 quarters
|
|
24
DELISTED
Paramount Global Class B
PARA
| $115M | 1.33% |
+2,750,000
| New | +$107M |
2019 Q4
0 quarters
|
|
25
Sony
SONY
$147B
| $102M | 1.17% |
7,500,000
| – | – |
2019 Q1
3 quarters
|
|
Similar funds
TCIM
Daniel Loeb's Q4 2019 Portfolio in Review
As of Q4 2019, Daniel Loeb held 51 positions worth $8.7B, up 3.3% from $8.42B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Daniel Loeb withdrew a net $324M in Q4 2019, closing 14 positions and reducing 7 holdings. Its most notable exit was Sotheby's, an estimated $380M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 41% of assets, up from 40% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Daniel Loeb opened a new position in IAA, Inc. Common Stock worth $306M.
- Daniel Loeb's largest Q4 2019 buy was IAA, Inc. Common Stock: 6,500,000 shares worth $306M.
- Daniel Loeb added most to Baxter International in Q4 2019, an estimated $53.8M increase.
- Daniel Loeb's biggest Q4 2019 reduction was Campbell Soup, cutting an estimated $123M.
- Daniel Loeb fully exited Sotheby's in Q4 2019, selling an estimated $380M.
- Daniel Loeb's ten largest holdings make up 67% of its $8.7B portfolio in Q4 2019.
- Daniel Loeb opened 11 new positions and closed 14 in Q4 2019.
- Daniel Loeb's portfolio value rose 3.3% quarter-over-quarter to $8.7B.
Based on Third Point's 13F filing for Q4 2019, filed 13 Feb 2020.