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 |
JPMorgan Chase
JPM
|
+$400M |
| 2 |
Bank of America
BAC
|
+$337M |
| 3 |
TWX
Time Warner Inc
TWX
|
+$267M |
| 4 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$229M |
| 5 |
Humana
HUM
|
+$191M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$872M |
| 2 |
Alibaba
BABA
|
+$275M |
| 3 |
MON
Monsanto Co
MON
|
+$267M |
| 4 |
Meta Platforms (Facebook)
META
|
+$239M |
| 5 |
TransDigm Group
TDG
|
+$231M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 31.7% |
| 2 | Communication Services | 14.76% |
| 3 | Financials | 14.38% |
| 4 | Materials | 13.32% |
| 5 | Industrials | 9.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Conagra Brands
CAG
$6.88B
| $119M | 1.16% |
3,000,000
-2,461,250
| -45% | -$92M |
2016 Q3
1 quarter
|
|
|
MON
27
DELISTED
Monsanto Co
MON
| $116M | 1.14% |
1,100,000
-2,600,000
| -70% | -$267M |
2016 Q2
2 quarters
|
|
28
Nomad Foods
NOMD
$1.71B
| $114M | 1.12% |
11,950,000
-700,000
| -6% | -$7.64M |
2016 Q1
3 quarters
|
|
29
Goldman Sachs
GS
$261B
| $95.8M | 0.94% |
+400,000
| New | +$81.2M |
2016 Q4
0 quarters
|
|
|
HDS
30
DELISTED
HD Supply Holdings, Inc.
HDS
| $95.6M | 0.94% |
+2,250,000
| New | +$83M |
2016 Q4
0 quarters
|
|
31
Green Brick Partners
GRBK
$2.62B
| $81.2M | 0.8% |
8,083,022
| – | – |
2013 Q2
14 quarters
|
|
|
32
TransDigm Group
TDG
$66.8B
| $62.2M | 0.61% |
250,000
-881,000
| -78% | -$231M |
2016 Q1
3 quarters
|
|
|
RICE
33
DELISTED
Rice Energy Inc.
RICE
| $56.6M | 0.56% |
+2,650,000
| New | +$63.2M |
2016 Q4
0 quarters
|
|
34
DELISTED
Southwestern Energy Company
SWN
| $54.1M | 0.53% |
+5,000,000
| New | +$57.2M |
2016 Q4
0 quarters
|
|
35
Broadcom
AVGO
$1.59T
| $53M | 0.52% |
+3,000,000
| New | +$52M |
2016 Q4
0 quarters
|
|
|
KDMN
36
DELISTED
Kadmon Holdings, Inc.
KDMN
| $42.1M | 0.41% |
7,919,650
| – | – |
2016 Q3
1 quarter
|
|
37
Grupo Supervielle
SUPV
$524M
| $36M | 0.35% |
2,740,000
-1,760,000
| -39% | -$25.2M |
2016 Q2
2 quarters
|
|
38
Enphase Energy
ENPH
$4.03B
| $6.31M | 0.06% |
6,248,987
| – | – |
2013 Q2
14 quarters
|
|
39
Ametek
AME
$57B
| – | – |
-1,250,000
| Closed | -$59.7M | – |
|
|
40
Alibaba
BABA
$250B
| – | – |
-2,600,000
| Closed | -$275M | – |
|
41
AB InBev
BUD
$160B
| – | – |
-1,600,000
| Closed | -$210M | – |
|
42
Liberty Global Class A
LBTYA
$2.91B
| – | – |
-3,000,000
| Closed | -$103M | – |
|
43
Visa
V
$786B
| – | – |
-2,100,000
| Closed | -$174M | – |
|
44
Williams Companies
WMB
$88.6B
| – | – |
-4,000,000
| Closed | -$123M | – |
|
45
Yum! Brands
YUM
$42.8B
| – | – |
-695,500
| Closed | -$45.4M | – |
|
|
AGN
46
DELISTED
Allergan plc
AGN
| – | – |
-3,785,000
| Closed | -$872M | – |
|
47
DELISTED
Citigroup Inc
C.WS.A
| – | – |
-20,000,000
| Closed | -$1.04M | – |
|
|
STJ
48
DELISTED
St Jude Medical
STJ
| – | – |
-2,600,000
| Closed | -$207M | – |
|
|
APIC
49
DELISTED
Apigee Corporation Common Stock
APIC
| – | – |
-3,166,551
| Closed | -$55.1M | – |
|
|
SHPG
50
DELISTED
Shire pic
SHPG
| – | – |
-900,000
| Closed | -$174M | – |
|
Similar funds
Third Point's Q4 2016 Portfolio in Review
As of Q4 2016, Third Point held 50 positions worth $10.2B, down 11% from $11.5B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Third Point withdrew a net $1.35B in Q4 2016, closing 12 positions and reducing 15 holdings. Its most notable exit was Allergan plc, an estimated $872M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 32% of assets, down from 38% a quarter earlier, followed by Communication Services and Financials.
Against the trend, Third Point opened a new position in JPMorgan Chase worth $453M.
- Third Point's largest Q4 2016 buy was JPMorgan Chase: 5,250,000 shares worth $453M.
- Third Point added most to Humana in Q4 2016, an estimated $191M increase.
- Third Point's biggest Q4 2016 reduction was Monsanto Co, cutting an estimated $267M.
- Third Point fully exited Allergan plc in Q4 2016, selling an estimated $872M.
- Third Point's ten largest holdings make up 62% of its $10.2B portfolio in Q4 2016.
- Third Point opened 12 new positions and closed 12 in Q4 2016.
- Third Point's portfolio value fell 11% quarter-over-quarter to $10.2B.
Based on Third Point's 13F filing for Q4 2016, filed 10 Feb 2017.