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 |
Alphabet (Google) Class A
GOOGL
|
+$515M |
| 2 |
Yum! Brands
YUM
|
+$396M |
| 3 |
BXLT
BAXALTA INC COM STK (DE)
BXLT
|
+$237M |
| 4 |
TransDigm Group
TDG
|
+$218M |
| 5 |
Lowe's Companies
LOW
|
+$212M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amgen
AMGN
|
+$898M |
| 2 |
Liberty Global Class C
LBTYK
|
+$204M |
| 3 |
AGN
Allergan plc
AGN
|
+$115M |
| 4 |
J.M. Smucker
SJM
|
+$110M |
| 5 |
eBay
EBAY
|
+$110M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 42.33% |
| 2 | Consumer Discretionary | 13.67% |
| 3 | Materials | 11.71% |
| 4 | Consumer Staples | 8.63% |
| 5 | Communication Services | 7.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
VMW
26
DELISTED
VMware, Inc
VMW
| $62.8M | 0.58% |
+1,200,000
| New | +$59.4M |
2016 Q1
0 quarters
|
|
27
CALL
Signet Jewelers
SIG
$4.54B
| $62M | 0.57% |
+500,000
| New | +$56.9M |
2016 Q1
0 quarters
|
|
28
Green Brick Partners
GRBK
$2.75B
| $61.4M | 0.57% |
8,083,022
| – | – |
2013 Q2
11 quarters
|
|
29
Targa Resources
TRGP
$57.4B
| $53.7M | 0.5% |
+1,800,000
| New | +$42.9M |
2016 Q1
0 quarters
|
|
30
Intercontinental Exchange
ICE
$96.2B
| $52.9M | 0.49% |
+1,125,000
| New | +$54.7M |
2016 Q1
0 quarters
|
|
|
TFCFA
31
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $40.4M | 0.37% |
+1,450,000
| New | +$38.8M |
2016 Q1
0 quarters
|
|
32
The Kraft Heinz Company
KHC
$29.4B
| $39.3M | 0.36% |
500,000
+418,000
| +510% | +$31.3M |
2015 Q3
2 quarters
|
|
33
Williams Companies
WMB
$81B
| $32.1M | 0.3% |
+2,000,000
| New | +$34.4M |
2016 Q1
0 quarters
|
|
|
APIC
34
DELISTED
Apigee Corporation Common Stock
APIC
| $26.3M | 0.24% |
3,166,551
| – | – |
2015 Q2
3 quarters
|
|
35
Enphase Energy
ENPH
$3.74B
| $14.6M | 0.13% |
6,248,987
| – | – |
2013 Q2
11 quarters
|
|
36
DELISTED
Citigroup Inc
C.WS.A
| $2M | 0.02% |
20,000,000
| – | – |
2014 Q4
5 quarters
|
|
37
Gaming and Leisure Properties
GLPI
$11.3B
| $1.08M | 0.01% |
+35,000
| New | +$950K |
2016 Q1
0 quarters
|
|
38
Axalta
AXTA
$7.81B
| – | – |
-2,400,000
| Closed | -$64M | – |
|
|
39
eBay
EBAY
$53.8B
| – | – |
-4,000,000
| Closed | -$110M | – |
|
|
40
Liberty Global Class C
LBTYK
$3.21B
| – | – |
-5,760,000
| Closed | -$204M | – |
|
41
Morgan Stanley
MS
$287B
| – | – |
-3,000,000
| Closed | -$95.4M | – |
|
|
CWEI
42
DELISTED
Clayton Williams Energy, Inc.
CWEI
| – | – |
-400,000
| Closed | -$11.8M | – |
|
Similar funds
Third Point's Q1 2016 Portfolio in Review
As of Q1 2016, Third Point held 42 positions worth $10.9B, up 10% from $9.9B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Third Point deployed $808M of net new capital in Q1 2016, opening 15 new positions and adding to 8 existing holdings. Its largest new stake was Alphabet (Google) Class A: 14,000,000 shares worth $534M.
By sector, the portfolio is most concentrated in Healthcare at 42% of assets, down from 55% a quarter earlier, followed by Consumer Discretionary and Materials.
On the sell side, the largest reduction was Amgen, an estimated $898M trimmed.
- Third Point's largest Q1 2016 buy was Alphabet (Google) Class A: 14,000,000 shares worth $534M.
- Third Point added most to Yum! Brands in Q1 2016, an estimated $396M increase.
- Third Point's biggest Q1 2016 reduction was Amgen, cutting an estimated $898M.
- Third Point fully exited Liberty Global Class C in Q1 2016, selling an estimated $204M.
- Third Point's ten largest holdings make up 69% of its $10.9B portfolio in Q1 2016.
- Third Point opened 15 new positions and closed 5 in Q1 2016.
- Third Point's portfolio value rose 10% quarter-over-quarter to $10.9B.
Based on Third Point's 13F filing for Q1 2016, filed 13 May 2016.