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 |
Amgen
AMGN
|
+$1.46B |
| 2 |
Phillips 66
PSX
|
+$369M |
| 3 |
eBay
EBAY
|
+$297M |
| 4 |
Alibaba
BABA
|
+$287M |
| 5 |
Citigroup
C
|
+$265M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ally Financial
ALLY
|
+$269M |
| 2 |
BBBY
Bed Bath & Beyond Inc
BBBY
|
+$197M |
| 3 |
Coca-Cola Europacific Partners
CCEP
|
+$189M |
| 4 |
Parker-Hannifin
PH
|
+$147M |
| 5 |
Broadcom
AVGO
|
+$144M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 25.79% |
| 2 | Consumer Discretionary | 15.74% |
| 3 | Financials | 10.87% |
| 4 | Materials | 10.65% |
| 5 | Industrials | 9.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Amgen
AMGN
$251B
| $1.7B | 15.34% |
10,675,000
+9,350,000
| +706% | +$1.46B |
2014 Q2
2 quarters
|
|
|
2
Alibaba
BABA
$250B
| $1.04B | 9.38% |
10,000,000
+2,800,000
| +39% | +$287M |
2014 Q3
1 quarter
|
|
3
DuPont de Nemours
DD
$20.8B
| $1B | 9.05% |
8,687,384
| – | – |
2013 Q4
4 quarters
|
|
|
AGN
4
DELISTED
Allergan plc
AGN
| $888M | 8.01% |
3,450,000
+575,000
| +20% | +$144M |
2014 Q1
3 quarters
|
|
|
5
Ally Financial
ALLY
$11.7B
| $709M | 6.39% |
30,000,000
-11,915,000
| -28% | -$269M |
2014 Q2
2 quarters
|
|
|
6
eBay
EBAY
$52.9B
| $561M | 5.06% |
23,760,000
+13,068,000
| +122% | +$297M |
2014 Q3
1 quarter
|
|
|
7
Phillips 66
PSX
$108B
| $358M | 3.23% |
+5,000,000
| New | +$369M |
2014 Q4
0 quarters
|
|
|
BID
8
DELISTED
Sotheby's
BID
| $287M | 2.59% |
6,650,000
| – | – |
2013 Q2
6 quarters
|
|
9
Dollar General
DG
$28.9B
| $283M | 2.55% |
4,000,000
| – | – |
2013 Q2
6 quarters
|
|
10
Liberty Global Class C
LBTYK
$2.78B
| $280M | 2.53% |
7,169,357
+618,048
| +9% | +$22.6M |
2013 Q2
6 quarters
|
|
|
11
Citigroup
C
$202B
| $271M | 2.44% |
+5,000,000
| New | +$265M |
2014 Q4
0 quarters
|
|
12
AB InBev
BUD
$161B
| $253M | 2.28% |
2,250,000
+250,000
| +13% | +$27.7M |
2014 Q1
3 quarters
|
|
13
Masco
MAS
$15.9B
| $252M | 2.27% |
11,380,000
+2,162,200
| +23% | +$44.6M |
2014 Q1
3 quarters
|
|
14
DELISTED
SUNEDISON, INC COM
SUNE
| $219M | 1.98% |
11,250,000
+5,250,000
| +88% | +$100M |
2014 Q3
1 quarter
|
|
15
Sensata Technologies
ST
$6.11B
| $210M | 1.89% |
4,000,000
-1,000,000
| -20% | -$48.5M |
2014 Q1
3 quarters
|
|
16
DELISTED
EMC CORPORATION
EMC
| $208M | 1.88% |
+7,000,000
| New | +$204M |
2014 Q4
0 quarters
|
|
17
Roper Technologies
ROP
$47.1B
| $203M | 1.83% |
1,300,000
| – | – |
2014 Q1
3 quarters
|
|
18
American Airlines Group
AAL
$8.52B
| $201M | 1.81% |
3,750,000
+1,000,000
| +36% | +$43.1M |
2014 Q1
3 quarters
|
|
19
Constellation Brands
STZ
$23.5B
| $196M | 1.77% |
2,000,000
-100,000
| -5% | -$9.16M |
2013 Q2
6 quarters
|
|
20
American International
AIG
$42.5B
| $196M | 1.77% |
+3,500,000
| New | +$188M |
2014 Q4
0 quarters
|
|
21
Delta Air Lines
DAL
$54.8B
| $189M | 1.71% |
+3,850,000
| New | +$162M |
2014 Q4
0 quarters
|
|
22
Williams Companies
WMB
$89.6B
| $180M | 1.62% |
4,000,000
+2,500,000
| +167% | +$128M |
2013 Q4
4 quarters
|
|
23
CF Industries
CF
$18B
| $177M | 1.6% |
3,250,000
-550,000
| -14% | -$29M |
2014 Q1
3 quarters
|
|
24
People Inc
PPLI
$2.76B
| $144M | 1.3% |
13,289,093
+2,098,278
| +19% | +$23.8M |
2014 Q2
2 quarters
|
|
25
Edgewell Personal Care
EPC
$1.3B
| $129M | 1.16% |
1,349,000
| – | – |
2014 Q3
1 quarter
|
|
Similar funds
Third Point's Q4 2014 Portfolio in Review
As of Q4 2014, Third Point held 54 positions worth $11.1B, up 27% from $8.71B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Third Point deployed $2.38B of net new capital in Q4 2014, opening 12 new positions and adding to 13 existing holdings. Its largest new stake was Phillips 66: 5,000,000 shares worth $358M.
By sector, the portfolio is most concentrated in Healthcare at 26% of assets, up from 13% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Ally Financial, an estimated $269M trimmed.
- Third Point's largest Q4 2014 buy was Phillips 66: 5,000,000 shares worth $358M.
- Third Point added most to Amgen in Q4 2014, an estimated $1.46B increase.
- Third Point's biggest Q4 2014 reduction was Ally Financial, cutting an estimated $269M.
- Third Point fully exited Bed Bath & Beyond Inc in Q4 2014, selling an estimated $197M.
- Third Point's ten largest holdings make up 64% of its $11.1B portfolio in Q4 2014.
- Third Point opened 12 new positions and closed 14 in Q4 2014.
- Third Point's portfolio value rose 27% quarter-over-quarter to $11.1B.
Based on Third Point's 13F filing for Q4 2014, filed 13 Feb 2015.