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 |
PG&E
PCG
|
+$787M |
| 2 |
Microsoft
MSFT
|
+$231M |
| 3 |
Fortive
FTV
|
+$217M |
| 4 |
TransDigm Group
TDG
|
+$205M |
| 5 |
Expedia Group
EXPE
|
+$146M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baxter International
BAX
|
+$344M |
| 2 |
RTX Corp
RTX
|
+$324M |
| 3 |
Nike
NKE
|
+$123M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
|
1
PG&E
PCG
$38.8B
| $798M | 7.98% |
+84,935,257
| New | +$787M |
|
2
Alibaba
BABA
$286B
| $742M | 7.42% |
2,525,000
+525,000
| +26% | +$138M |
|
3
Walt Disney
DIS
$186B
| $658M | 6.58% |
5,300,000
-200,000
| -4% | -$25M |
|
4
Danaher
DHR
$154B
| $646M | 6.46% |
3,384,000
| – | – |
|
5
Amazon
AMZN
$2.79T
| $645M | 6.46% |
4,100,000
-100,000
| -2% | -$15.8M |
|
|
IAA
6
DELISTED
IAA, Inc. Common Stock
IAA
| $549M | 5.49% |
10,535,000
-50,000
| -0.5% | -$2.33M |
|
7
Fidelity National Information Services
FIS
$21.3B
| $471M | 4.71% |
3,200,000
| – | – |
|
8
Charter Communications
CHTR
$17.9B
| $468M | 4.68% |
750,000
| – | – |
|
9
Salesforce
CRM
$171B
| $358M | 3.58% |
1,425,000
| – | – |
|
10
JD.com
JD
$39.7B
| $345M | 3.45% |
4,450,000
+1,200,000
| +37% | +$83.4M |
|
11
Burlington
BURL
$20.6B
| $344M | 3.44% |
1,670,000
+270,000
| +19% | +$52.6M |
|
12
Adobe
ADBE
$109B
| $314M | 3.14% |
640,000
-25,000
| -4% | -$11.6M |
|
13
Visa
V
$693B
| $310M | 3.1% |
1,550,000
+300,000
| +24% | +$59.9M |
|
14
Meta Platforms (Facebook)
META
$1.4T
| $295M | 2.95% |
1,125,000
+275,000
| +32% | +$70.9M |
|
15
IQVIA
IQV
$42.8B
| $285M | 2.85% |
1,810,400
-89,600
| -5% | -$14M |
|
16
S&P Global
SPGI
$127B
| $279M | 2.8% |
775,000
| – | – |
|
|
17
Microsoft
MSFT
$3.59T
| $231M | 2.31% |
+1,100,000
| New | +$231M |
|
|
18
Fortive
FTV
$18.1B
| $229M | 2.29% |
+4,757,295
| New | +$217M |
|
|
19
TransDigm Group
TDG
$66.4B
| $207M | 2.07% |
+435,000
| New | +$205M |
|
20
Ferrari
RACE
$76.7B
| $200M | 2% |
1,085,000
| – | – |
|
|
BKI
21
DELISTED
Black Knight, Inc. Common Stock
BKI
| $152M | 1.52% |
1,750,000
+1,305,518
| +294% | +$103M |
|
22
TE Connectivity
TEL
$58.9B
| $151M | 1.52% |
1,550,000
+100,000
| +7% | +$9.2M |
|
|
23
Expedia Group
EXPE
$38.6B
| $149M | 1.49% |
+1,625,000
| New | +$146M |
|
24
Pinterest
PINS
$13.3B
| $149M | 1.49% |
+3,577,500
| New | +$117M |
|
|
XYZ
25
Block Inc
XYZ
$49.4B
| $130M | 1.3% |
800,000
| – | – |
|
Similar funds
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.