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 |
Baxter International
BAX
|
+$272M |
| 2 |
Devon Energy
DVN
|
+$242M |
| 3 |
Sealed Air
SEE
|
+$233M |
| 4 |
T-Mobile US
TMUS
|
+$233M |
| 5 |
Perrigo
PRGO
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ally Financial
ALLY
|
+$353M |
| 2 |
Dollar General
DG
|
+$302M |
| 3 |
Amgen
AMGN
|
+$160M |
| 4 |
Sensata Technologies
ST
|
+$143M |
| 5 |
McKesson
MCK
|
+$142M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.4% |
| 2 | Consumer Discretionary | 14.97% |
| 3 | Materials | 11.02% |
| 4 | Technology | 9.47% |
| 5 | Communication Services | 7.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Masco
MAS
$15.9B
| $133M | 1.25% |
5,690,000
-5,690,000
| -50% | -$135M |
2014 Q1
5 quarters
|
|
27
Precigen
PGEN
$1.83B
| $132M | 1.23% |
2,724,300
-100,799
| -4% | -$4.25M |
2013 Q3
7 quarters
|
|
28
Delta Air Lines
DAL
$54.7B
| $113M | 1.06% |
2,750,000
-2,500,000
| -48% | -$109M |
2014 Q4
2 quarters
|
|
|
29
Perrigo
PRGO
$2.16B
| $111M | 1.04% |
+600,000
| New | +$114M |
2015 Q2
0 quarters
|
|
30
Telefônica Brasil
VIV
$17.6B
| $104M | 0.98% |
+7,500,000
| New | +$112M |
2015 Q2
0 quarters
|
|
31
CALL
iShares China Large-Cap ETF
FXI
$3.8B
| $92.2M | 0.86% |
+2,000,000
| New | +$99M |
2015 Q2
0 quarters
|
|
32
Green Brick Partners
GRBK
$2.63B
| $87.1M | 0.82% |
8,083,022
+2,840,898
| +54% | +$26.3M |
2013 Q2
8 quarters
|
|
33
Williams Companies
WMB
$88.9B
| $86.1M | 0.81% |
+1,500,000
| New | +$77.3M |
2015 Q2
0 quarters
|
|
|
HOT
34
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $81.1M | 0.76% |
+1,000,000
| New | +$83.7M |
2015 Q2
0 quarters
|
|
|
35
Sensata Technologies
ST
$6.08B
| $76.1M | 0.71% |
1,443,500
-2,556,500
| -64% | -$143M |
2014 Q1
5 quarters
|
|
36
Molson Coors Class B
TAP
$7.85B
| $69.8M | 0.65% |
+1,000,000
| New | +$74.4M |
2015 Q2
0 quarters
|
|
|
CWEI
37
DELISTED
Clayton Williams Energy, Inc.
CWEI
| $65.8M | 0.62% |
1,000,000
+200,000
| +25% | +$11.3M |
2015 Q1
1 quarter
|
|
38
Enphase Energy
ENPH
$4.01B
| $47.6M | 0.45% |
6,248,987
| – | – |
2013 Q2
8 quarters
|
|
|
39
CALL
T-Mobile US
TMUS
$164B
| $38.8M | 0.36% |
+1,000,000
| New | +$35.8M |
2015 Q2
0 quarters
|
|
|
APIC
40
DELISTED
Apigee Corporation Common Stock
APIC
| $31.4M | 0.29% |
+3,166,551
| New | +$43.4M |
2015 Q2
0 quarters
|
|
41
Alaunos Therapeutics
TCRT
$4.47M
| $23.4M | 0.22% |
+13,000
| New | +$20.2M |
2015 Q2
0 quarters
|
|
42
Nokia
NOK
$47.7B
| $20.6M | 0.19% |
+3,000,000
| New | +$21.9M |
2015 Q2
0 quarters
|
|
43
Charter Communications
CHTR
$13.1B
| $17.1M | 0.16% |
+100,000
| New | +$18M |
2015 Q2
0 quarters
|
|
44
DELISTED
Citigroup Inc
C.WS.A
| $14.8M | 0.14% |
20,000,000
| – | – |
2014 Q4
2 quarters
|
|
45
CALL
Yum! Brands
YUM
$42.9B
| $10.8M | 0.1% |
166,920
+146,055
| +700% | +$9.25M |
2015 Q1
1 quarter
|
|
46
CALL
Edgewell Personal Care
EPC
$1.29B
| $2.3M | 0.02% |
+17,500
| New | +$1.81M |
2015 Q2
0 quarters
|
|
47
CALL
DELISTED
SUNEDISON, INC COM
SUNE
| $1.05M | 0.01% |
35,000
-105,000
| -75% | -$2.99M |
2015 Q1
1 quarter
|
|
|
48
Dollar General
DG
$28.8B
| – | – |
-4,000,000
| Closed | -$302M | – |
|
|
49
Edgewell Personal Care
EPC
$1.29B
| – | – |
-1,349,000
| Closed | -$139M | – |
|
50
Energy Transfer Partners
ET
$69.3B
| – | – |
-540,000
| Closed | -$17.1M | – |
|
Similar funds
Third Point's Q2 2015 Portfolio in Review
As of Q2 2015, Third Point held 58 positions worth $10.7B, down 1.3% from $10.8B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Third Point's Q2 2015 filing shows 17 new, 13 increased, 14 reduced and 9 closed positions. Its largest new stake was Baxter International: 7,271,950 shares worth $276M. The largest sale was Ally Financial, an estimated $353M.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Materials.
- Third Point's largest Q2 2015 buy was Baxter International: 7,271,950 shares worth $276M.
- Third Point added most to Mohawk Industries in Q2 2015, an estimated $106M increase.
- Third Point's biggest Q2 2015 reduction was Ally Financial, cutting an estimated $353M.
- Third Point fully exited Dollar General in Q2 2015, selling an estimated $302M.
- Third Point's ten largest holdings make up 56% of its $10.7B portfolio in Q2 2015.
- Third Point opened 17 new positions and closed 9 in Q2 2015.
- Third Point's portfolio value fell 1.3% quarter-over-quarter to $10.7B.
Based on Third Point's 13F filing for Q2 2015, filed 14 Aug 2015.