Third Point Portfolio holdings
Third Point is a hedge fund firm founded in 1995 by Daniel Loeb, who is its principal owner and chief executive. Its main strategy is event-driven investing across many industries, regions and asset classes, and its funds also buy stressed and distressed securities. In 2013 Loeb called for the resignation of William Ruprecht, the chairman and chief executive of Sotheby's, who announced his resignation in 2014. Third Point Ventures is the venture capital arm of Third Point, and the firm has also bought Birch Grove, a credit asset manager. Its investors include corporate and public pension funds, sovereign wealth funds, endowments, foundations and high net worth individuals.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$647M |
| 2 |
eBay
EBAY
|
+$238M |
| 3 |
BBBY
Bed Bath & Beyond Inc
BBBY
|
+$189M |
| 4 |
SHPG
Shire pic
SHPG
|
+$186M |
| 5 |
Parker-Hannifin
PH
|
+$152M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American International
AIG
|
+$327M |
| 2 |
T-Mobile US
TMUS
|
+$269M |
| 3 |
RAX
Rackspace Hosting Inc
RAX
|
+$244M |
| 4 |
Herc Holdings
HRI
|
+$161M |
| 5 |
Williams Companies
WMB
|
+$129M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 15.67% |
| 2 | Consumer Discretionary | 14.91% |
| 3 | Healthcare | 12.94% |
| 4 | Consumer Staples | 11.45% |
| 5 | Financials | 11.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
People Inc
PPLI
$3.27B
| $132M | 1.51% |
11,190,815
| – | – |
2014 Q2
1 quarter
|
|
27
Edgewell Personal Care
EPC
$1.32B
| $123M | 1.41% |
+1,349,000
| New | +$121M |
2014 Q3
0 quarters
|
|
28
FedEx
FDX
$74.8B
| $121M | 1.39% |
750,000
-250,000
| -25% | -$38M |
2013 Q3
4 quarters
|
|
29
DELISTED
SUNEDISON, INC COM
SUNE
| $113M | 1.3% |
+6,000,000
| New | +$129M |
2014 Q3
0 quarters
|
|
30
American Airlines Group
AAL
$8.82B
| $97.6M | 1.12% |
2,750,000
+625,000
| +29% | +$24.6M |
2014 Q1
2 quarters
|
|
31
Enphase Energy
ENPH
$3.54B
| $93.7M | 1.08% |
6,248,987
-1,200,000
| -16% | -$15.2M |
2013 Q2
5 quarters
|
|
|
32
Williams Companies
WMB
$86.8B
| $83M | 0.95% |
1,500,000
-2,250,000
| -60% | -$129M |
2013 Q4
3 quarters
|
|
33
Cheniere Energy
LNG
$63.2B
| $64M | 0.73% |
800,000
-1,450,000
| -64% | -$111M |
2013 Q4
3 quarters
|
|
34
Crown Holdings
CCK
$13B
| $62.3M | 0.72% |
+1,400,000
| New | +$67.4M |
2014 Q3
0 quarters
|
|
35
Precigen
PGEN
$1.67B
| $53.9M | 0.62% |
3,034,366
| – | – |
2013 Q3
4 quarters
|
|
36
Molson Coors Class B
TAP
$7.33B
| $37.2M | 0.43% |
+500,000
| New | +$36.5M |
2014 Q3
0 quarters
|
|
37
Corpay
CPAY
$29.2B
| $21.3M | 0.24% |
+150,000
| New | +$20.7M |
2014 Q3
0 quarters
|
|
38
Moelis & Co
MC
$4.14B
| $11.3M | 0.13% |
341,044
| – | – |
2014 Q2
1 quarter
|
|
39
Green Brick Partners
GRBK
$2.59B
| $6.66M | 0.08% |
1,043,126
-554,938
| -35% | -$3.47M |
2013 Q2
5 quarters
|
|
40
CALL
EQT Corp
EQT
$32.8B
| $1.65M | 0.02% |
+33,066
| New | +$1.75M |
2014 Q3
0 quarters
|
|
|
41
American International
AIG
$42.8B
| – | – |
-6,000,000
| Closed | -$327M | – |
|
42
Ashland
ASH
$3.45B
| – | – |
-2,044,000
| Closed | -$109M | – |
|
43
CALL
AstraZeneca
AZN
$286B
| – | – |
-1,000,000
| Closed | -$74.3M | – |
|
44
FMC
FMC
$787M
| – | – |
-1,787,150
| Closed | -$110M | – |
|
|
45
Herc Holdings
HRI
$5.57B
| – | – |
-1,916,667
| Closed | -$161M | – |
|
46
Owens Corning
OC
$9.06B
| – | – |
-473,000
| Closed | -$18.3M | – |
|
|
47
T-Mobile US
TMUS
$181B
| – | – |
-8,000,000
| Closed | -$269M | – |
|
48
Viavi Solutions
VIAV
$8B
| – | – |
-4,395,000
| Closed | -$31.2M | – |
|
49
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-700,000
| Closed | -$51.9M | – |
|
|
CTXS
50
DELISTED
Citrix Systems Inc
CTXS
| – | – |
-2,511,600
| Closed | -$125M | – |
|
Similar funds
Third Point's Q3 2014 Portfolio in Review
As of Q3 2014, Third Point held 54 positions worth $8.71B, up 7.1% from $8.13B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Third Point's Q3 2014 filing shows 13 new, 9 increased, 11 reduced and 13 closed positions. Its largest new stake was Alibaba: 7,200,000 shares worth $640M. The largest sale was American International, an estimated $327M.
By sector, the portfolio is most concentrated in Materials at 16% of assets, down from 19% a quarter earlier, followed by Consumer Discretionary and Healthcare.
- Third Point's largest Q3 2014 buy was Alibaba: 7,200,000 shares worth $640M.
- Third Point added most to Amgen in Q3 2014, an estimated $114M increase.
- Third Point's biggest Q3 2014 reduction was Williams Companies, cutting an estimated $129M.
- Third Point fully exited American International in Q3 2014, selling an estimated $327M.
- Third Point's ten largest holdings make up 58% of its $8.71B portfolio in Q3 2014.
- Third Point opened 13 new positions and closed 13 in Q3 2014.
- Third Point's portfolio value rose 7.1% quarter-over-quarter to $8.71B.
Based on Third Point's 13F filing for Q3 2014, filed 14 Nov 2014.