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 |
Ally Financial
ALLY
|
+$1.11B |
| 2 |
DuPont de Nemours
DD
|
+$743M |
| 3 |
RAX
Rackspace Hosting Inc
RAX
|
+$241M |
| 4 |
People Inc
PPLI
|
+$134M |
| 5 |
FMC
FMC
|
+$117M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$234M |
| 2 |
Verizon
VZ
|
+$166M |
| 3 |
Coterra Energy
CTRA
|
+$152M |
| 4 |
FedEx
FDX
|
+$140M |
| 5 |
International Paper
IP
|
+$138M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 19.29% |
| 2 | Financials | 17.55% |
| 3 | Technology | 12.39% |
| 4 | Industrials | 10.94% |
| 5 | Energy | 10.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Mondelez International
MDLZ
$84.4B
| – | – |
-1,500,000
| Closed | -$51.8M | – |
|
52
Nokia
NOK
$47.8B
| – | – |
-4,500,000
| Closed | -$33M | – |
|
53
Signet Jewelers
SIG
$4.62B
| – | – |
-800,000
| Closed | -$84.7M | – |
|
54
TIM SA
TIMB
$9.28B
| – | – |
-1,600,000
| Closed | -$41.5M | – |
|
55
NCR Voyix
VYX
$1.42B
| – | – |
-2,445,000
| Closed | -$54.8M | – |
|
|
56
Verizon
VZ
$193B
| – | – |
-3,500,000
| Closed | -$166M | – |
|
57
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$31.3B
| – | – |
-5,000,000
| Closed | -$262M | – |
|
58
Onity Group
ONIT
$236M
| – | – |
-66,667
| Closed | -$39.2M | – |
|
|
TWC
59
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| – | – |
-380,000
| Closed | -$52.1M | – |
|
Similar funds
Third Point's Q2 2014 Portfolio in Review
As of Q2 2014, Third Point held 59 positions worth $8.13B, up 19% from $6.81B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Third Point deployed $1.3B of net new capital in Q2 2014, opening 12 new positions and adding to 12 existing holdings. Its largest new stake was Ally Financial: 45,595,000 shares worth $1.09B.
By sector, the portfolio is most concentrated in Materials at 19% of assets, up from 10% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was FedEx, an estimated $140M trimmed.
- Third Point's largest Q2 2014 buy was Ally Financial: 45,595,000 shares worth $1.09B.
- Third Point added most to DuPont de Nemours in Q2 2014, an estimated $743M increase.
- Third Point's biggest Q2 2014 reduction was FedEx, cutting an estimated $140M.
- Third Point fully exited Alphabet (Google) Class C in Q2 2014, selling an estimated $234M.
- Third Point's ten largest holdings make up 56% of its $8.13B portfolio in Q2 2014.
- Third Point opened 12 new positions and closed 18 in Q2 2014.
- Third Point's portfolio value rose 19% quarter-over-quarter to $8.13B.
Based on Third Point's 13F filing for Q2 2014, filed 14 Aug 2014.