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 |
T-Mobile US
TMUS
|
+$307M |
| 2 |
Salesforce
CRM
|
+$240M |
| 3 |
Qualcomm
QCOM
|
+$203M |
| 4 |
Hewlett Packard
HPE
|
+$139M |
| 5 |
Celanese
CE
|
+$109M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$305M |
| 2 |
Baxter International
BAX
|
+$290M |
| 3 |
Apple
AAPL
|
+$214M |
| 4 |
Molson Coors Class B
TAP
|
+$165M |
| 5 |
PVTB
PrivateBancorp Inc
PVTB
|
+$163M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 29.91% |
| 2 | Communication Services | 19.39% |
| 3 | Materials | 14.39% |
| 4 | Financials | 8.24% |
| 5 | Technology | 7.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
26
Celanese
CE
$5.64B
| $112M | 1.1% |
+1,250,000
| New | +$109M |
2017 Q1
0 quarters
|
|
|
27
CALL
Humana
HUM
$54B
| $103M | 1.01% |
+500,000
| New | +$103M |
2017 Q1
0 quarters
|
|
28
DELISTED
Pioneer Natural Resource Co.
PXD
| $93.1M | 0.91% |
+500,000
| New | +$92.8M |
2017 Q1
0 quarters
|
|
29
Alcoa
AA
$10.5B
| $86M | 0.84% |
+2,500,000
| New | +$87.5M |
2017 Q1
0 quarters
|
|
|
RSPP
30
DELISTED
RSP Permian, Inc.
RSPP
| $82.9M | 0.81% |
+2,000,000
| New | +$83.1M |
2017 Q1
0 quarters
|
|
|
PE
31
DELISTED
PARSLEY ENERGY INC
PE
| $81.3M | 0.79% |
+2,500,000
| New | +$82.7M |
2017 Q1
0 quarters
|
|
32
Green Brick Partners
GRBK
$2.59B
| $80.4M | 0.78% |
8,083,022
| – | – |
2013 Q2
15 quarters
|
|
33
Nomad Foods
NOMD
$1.67B
| $80.2M | 0.78% |
7,000,000
-4,950,000
| -41% | -$52.7M |
2016 Q1
4 quarters
|
|
34
Snap
SNAP
$9.08B
| $50.7M | 0.49% |
+2,250,000
| New | +$49.9M |
2017 Q1
0 quarters
|
|
|
HK
35
DELISTED
Halcon Resources Corporation
HK
| $39.5M | 0.39% |
+5,170,000
| New | +$43.6M |
2017 Q1
0 quarters
|
|
|
KDMN
36
DELISTED
Kadmon Holdings, Inc.
KDMN
| $34M | 0.33% |
9,407,745
+1,488,095
| +19% | +$6.01M |
2016 Q3
2 quarters
|
|
37
DELISTED
Enerplus Corporation
ERF
| $25.8M | 0.25% |
+3,200,000
| New | +$28.1M |
2017 Q1
0 quarters
|
|
38
Enphase Energy
ENPH
$3.45B
| $8.56M | 0.08% |
6,248,987
| – | – |
2013 Q2
15 quarters
|
|
|
39
Apple
AAPL
$5.18T
| – | – |
-7,400,000
| Closed | -$214M | – |
|
40
Broadcom
AVGO
$1.66T
| – | – |
-3,000,000
| Closed | -$53M | – |
|
41
Conagra Brands
CAG
$7.03B
| – | – |
-3,000,000
| Closed | -$119M | – |
|
42
Chubb
CB
$144B
| – | – |
-1,200,000
| Closed | -$159M | – |
|
43
Goldman Sachs
GS
$264B
| – | – |
-400,000
| Closed | -$95.8M | – |
|
44
Grupo Supervielle
SUPV
$520M
| – | – |
-2,740,000
| Closed | -$36M | – |
|
|
45
Molson Coors Class B
TAP
$7.57B
| – | – |
-1,700,000
| Closed | -$165M | – |
|
46
TransDigm Group
TDG
$66.5B
| – | – |
-250,000
| Closed | -$62.2M | – |
|
47
Union Pacific
UNP
$180B
| – | – |
-1,150,000
| Closed | -$119M | – |
|
48
DELISTED
Southwestern Energy Company
SWN
| – | – |
-5,000,000
| Closed | -$54.1M | – |
|
|
HDS
49
DELISTED
HD Supply Holdings, Inc.
HDS
| – | – |
-2,250,000
| Closed | -$95.6M | – |
|
|
MON
50
DELISTED
Monsanto Co
MON
| – | – |
-1,100,000
| Closed | -$116M | – |
|
Similar funds
Third Point's Q1 2017 Portfolio in Review
As of Q1 2017, Third Point held 51 positions worth $10.2B, up 0.59% from $10.2B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Third Point withdrew a net $1.03B in Q1 2017, closing 13 positions and reducing 15 holdings. Its most notable exit was Apple, an estimated $214M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 30% of assets, down from 32% a quarter earlier, followed by Communication Services and Materials.
Against the trend, Third Point opened a new position in T-Mobile US worth $323M.
- Third Point's largest Q1 2017 buy was T-Mobile US: 5,000,000 shares worth $323M.
- Third Point added most to Rice Energy Inc. in Q1 2017, an estimated $48.8M increase.
- Third Point's biggest Q1 2017 reduction was Humana, cutting an estimated $305M.
- Third Point fully exited Apple in Q1 2017, selling an estimated $214M.
- Third Point's ten largest holdings make up 61% of its $10.2B portfolio in Q1 2017.
- Third Point opened 13 new positions and closed 13 in Q1 2017.
- Third Point's portfolio value rose 0.59% quarter-over-quarter to $10.2B.
Based on Third Point's 13F filing for Q1 2017, filed 12 May 2017.