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 |
Baxter International
BAX
|
+$272M |
| 2 |
Devon Energy
DVN
|
+$242M |
| 3 |
Sealed Air
SEE
|
+$233M |
| 4 |
T-Mobile US
TMUS
|
+$233M |
| 5 |
Perrigo
PRGO
|
+$114M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ally Financial
ALLY
|
+$353M |
| 2 |
Dollar General
DG
|
+$302M |
| 3 |
Amgen
AMGN
|
+$160M |
| 4 |
Sensata Technologies
ST
|
+$143M |
| 5 |
McKesson
MCK
|
+$142M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.4% |
| 2 | Consumer Discretionary | 14.97% |
| 3 | Materials | 11.02% |
| 4 | Technology | 9.47% |
| 5 | Communication Services | 7.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
PUT
iShares Russell 2000 ETF
IWM
$77.3B
| – | – |
-4,000,000
| Closed | -$497M | – |
|
52
Moelis & Co
MC
$4.14B
| – | – |
-170,523
| Closed | -$5.11M | – |
|
|
53
McKesson
MCK
$124B
| – | – |
-625,600
| Closed | -$142M | – |
|
54
Corpay
CPAY
$29.2B
| – | – |
-700,000
| Closed | -$106M | – |
|
|
MXIM
55
DELISTED
Maxim Integrated Products
MXIM
| – | – |
-3,500,000
| Closed | -$122M | – |
|
|
PCP
56
DELISTED
PRECISION CASTPARTS CORP
PCP
| – | – |
-500,000
| Closed | -$105M | – |
|
Similar funds
Third Point's Q2 2015 Portfolio in Review
As of Q2 2015, Third Point held 58 positions worth $10.7B, down 1.3% from $10.8B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Third Point's Q2 2015 filing shows 17 new, 13 increased, 14 reduced and 9 closed positions. Its largest new stake was Baxter International: 7,271,950 shares worth $276M. The largest sale was Ally Financial, an estimated $353M.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, up from 27% a quarter earlier, followed by Consumer Discretionary and Materials.
- Third Point's largest Q2 2015 buy was Baxter International: 7,271,950 shares worth $276M.
- Third Point added most to Mohawk Industries in Q2 2015, an estimated $106M increase.
- Third Point's biggest Q2 2015 reduction was Ally Financial, cutting an estimated $353M.
- Third Point fully exited Dollar General in Q2 2015, selling an estimated $302M.
- Third Point's ten largest holdings make up 56% of its $10.7B portfolio in Q2 2015.
- Third Point opened 17 new positions and closed 9 in Q2 2015.
- Third Point's portfolio value fell 1.3% quarter-over-quarter to $10.7B.
Based on Third Point's 13F filing for Q2 2015, filed 14 Aug 2015.