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
|
+$1.76B |
| 2 |
Yum! Brands
YUM
|
+$676M |
| 3 |
The Kraft Heinz Company
KHC
|
+$623M |
| 4 |
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
|
+$243M |
| 5 |
Broadcom
AVGO
|
+$208M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SUNEDISON, INC COM
SUNE
|
+$371M |
| 2 |
eBay
EBAY
|
+$269M |
| 3 |
Phillips 66
PSX
|
+$262M |
| 4 |
Ally Financial
ALLY
|
+$224M |
| 5 |
Devon Energy
DVN
|
+$223M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 41.21% |
| 2 | Consumer Discretionary | 17.66% |
| 3 | Consumer Staples | 12.05% |
| 4 | Materials | 9.4% |
| 5 | Communication Services | 8.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Precigen
PGEN
$1.63B
| $47.7M | 0.45% |
1,513,500
-1,210,800
| -44% | -$59.1M |
2013 Q3
8 quarters
|
|
|
CWEI
27
DELISTED
Clayton Williams Energy, Inc.
CWEI
| $34M | 0.32% |
875,000
-125,000
| -13% | -$5.49M |
2015 Q1
2 quarters
|
|
|
APIC
28
DELISTED
Apigee Corporation Common Stock
APIC
| $33.4M | 0.32% |
3,166,551
| – | – |
2015 Q2
1 quarter
|
|
29
Enphase Energy
ENPH
$3.45B
| $23.1M | 0.22% |
6,248,987
| – | – |
2013 Q2
9 quarters
|
|
|
30
CALL
Yum! Brands
YUM
$43.3B
| $9.6M | 0.09% |
166,920
| – | – |
2015 Q1
2 quarters
|
|
31
DELISTED
Citigroup Inc
C.WS.A
| $9.2M | 0.09% |
20,000,000
| – | – |
2014 Q4
3 quarters
|
|
32
American International
AIG
$43B
| – | – |
-3,500,000
| Closed | -$216M | – |
|
|
33
Ally Financial
ALLY
$11.5B
| – | – |
-10,000,000
| Closed | -$224M | – |
|
34
Charter Communications
CHTR
$15.8B
| – | – |
-100,000
| Closed | -$17.1M | – |
|
35
Delta Air Lines
DAL
$56.7B
| – | – |
-2,750,000
| Closed | -$113M | – |
|
|
36
Devon Energy
DVN
$53.1B
| – | – |
-3,750,000
| Closed | -$223M | – |
|
|
37
CALL
eBay
EBAY
$53.1B
| – | – |
-7,128,000
| Closed | -$181M | – |
|
38
CALL
Edgewell Personal Care
EPC
$1.26B
| – | – |
-17,500
| Closed | -$2.3M | – |
|
39
FedEx
FDX
$75.9B
| – | – |
-1,000,000
| Closed | -$170M | – |
|
40
CALL
iShares China Large-Cap ETF
FXI
$3.84B
| – | – |
-2,000,000
| Closed | -$92.2M | – |
|
41
Masco
MAS
$16.3B
| – | – |
-5,690,000
| Closed | -$133M | – |
|
42
Nokia
NOK
$45.7B
| – | – |
-3,000,000
| Closed | -$20.6M | – |
|
43
Perrigo
PRGO
$2.25B
| – | – |
-600,000
| Closed | -$111M | – |
|
|
44
Phillips 66
PSX
$103B
| – | – |
-3,250,000
| Closed | -$262M | – |
|
45
Sensata Technologies
ST
$5.61B
| – | – |
-1,443,500
| Closed | -$76.1M | – |
|
46
Alaunos Therapeutics
TCRT
$4.14M
| – | – |
-13,000
| Closed | -$23.4M | – |
|
47
Telefônica Brasil
VIV
$19.2B
| – | – |
-7,500,000
| Closed | -$104M | – |
|
48
Williams Companies
WMB
$86.4B
| – | – |
-1,500,000
| Closed | -$86.1M | – |
|
|
49
CALL
DELISTED
SUNEDISON, INC COM
SUNE
| – | – |
-35,000
| Closed | -$1.05M | – |
|
|
50
DELISTED
SUNEDISON, INC COM
SUNE
| – | – |
-12,400,000
| Closed | -$371M | – |
|
Similar funds
Third Point's Q3 2015 Portfolio in Review
As of Q3 2015, Third Point held 53 positions worth $10.6B, down 0.72% from $10.7B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Third Point deployed $1.27B of net new capital in Q3 2015, opening 4 new positions and adding to 9 existing holdings. Its largest new stake was The Kraft Heinz Company: 8,250,000 shares worth $582M.
By sector, the portfolio is most concentrated in Healthcare at 41% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
On the sell side, the largest reduction was eBay, an estimated $269M trimmed.
- Third Point's largest Q3 2015 buy was The Kraft Heinz Company: 8,250,000 shares worth $582M.
- Third Point added most to Baxter International in Q3 2015, an estimated $1.76B increase.
- Third Point's biggest Q3 2015 reduction was eBay, cutting an estimated $269M.
- Third Point fully exited SUNEDISON, INC COM in Q3 2015, selling an estimated $371M.
- Third Point's ten largest holdings make up 73% of its $10.6B portfolio in Q3 2015.
- Third Point opened 4 new positions and closed 21 in Q3 2015.
- Third Point's portfolio value fell 0.72% quarter-over-quarter to $10.6B.
Based on Third Point's 13F filing for Q3 2015, filed 13 Nov 2015.