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TP
Third Point Portfolio holdings
AUM
$2.08B
1-Year Est. Return
27.04%
This Fund
S&P 500
This Quarter
Est. Return
-12.22%
1 Year Est. Return
+27.04%
3 Year Est. Return
+125.35%
5 Year Est. Return
+260.24%
10 Year Est. Return
+1,464.79%
AUM
$6.51B
AUM Growth
-$7.8B
(-55%)
Cap. Flow
-$5.24B
Cap. Flow
% of AUM
-80.47%
Top 10 Holdings %
Top 10 Hldgs %
77.52%
Holding
32
New
1
Increased
4
Reduced
12
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$120M |
| 2 |
Campbell Soup
CPB
|
+$113M |
| 3 |
Salesforce
CRM
|
+$92.8M |
| 4 |
SHPG
Shire pic
SHPG
|
+$20.9M |
| 5 |
IQVIA
IQV
|
+$15.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$1.17B |
| 2 |
Alibaba
BABA
|
+$666M |
| 3 |
Baxter International
BAX
|
+$537M |
| 4 |
Microsoft
MSFT
|
+$469M |
| 5 |
Netflix
NFLX
|
+$468M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 45.99% |
| 2 | Consumer Staples | 14.97% |
| 3 | Financials | 14.58% |
| 4 | Technology | 8.03% |
| 5 | Materials | 7.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Lennar Class A
LEN
$20.4B
| – | – |
-5,340,610
| Closed | -$241M |
|
27
Marathon Petroleum
MPC
$90.3B
| – | – |
-3,500,000
| Closed | -$280M |
|
|
28
Microsoft
MSFT
$2.84T
| – | – |
-4,100,000
| Closed | -$469M |
|
|
29
Netflix
NFLX
$292B
| – | – |
-12,500,000
| Closed | -$468M |
|
|
30
RTX Corp
RTX
$287B
| – | – |
-13,347,600
| Closed | -$1.17B |
|
|
ARCE
31
DELISTED
Arco Platform Limited Class A Common Shares
ARCE
| – | – |
-250,000
| Closed | -$5.7M |
|
|
WPX
32
DELISTED
WPX Energy, Inc.
WPX
| – | – |
-3,135,900
| Closed | -$63.1M |
|
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Third Point's Q4 2018 Portfolio in Review
As of Q4 2018, Third Point held 32 positions worth $6.51B, down 55% from $14.3B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Third Point withdrew a net $5.24B in Q4 2018, closing 10 positions and reducing 12 holdings. Its most notable exit was RTX Corp, an estimated $1.17B position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 46% of assets, up from 28% a quarter earlier, followed by Consumer Staples and Financials.
Against the trend, Third Point opened a new position in Cigna worth $109M.
- Third Point's largest Q4 2018 buy was Cigna: 575,000 shares worth $109M.
- Third Point added most to Campbell Soup in Q4 2018, an estimated $113M increase.
- Third Point's biggest Q4 2018 reduction was Baxter International, cutting an estimated $537M.
- Third Point fully exited RTX Corp in Q4 2018, selling an estimated $1.17B.
- Third Point's ten largest holdings make up 78% of its $6.51B portfolio in Q4 2018.
- Third Point opened 1 new position and closed 10 in Q4 2018.
- Third Point's portfolio value fell 55% quarter-over-quarter to $6.51B.
Based on Third Point's 13F filing for Q4 2018, filed 8 Feb 2019.