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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
+13.4%
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
$9.86B
AUM Growth
-$741M
(-7%)
Cap. Flow
-$1.74B
Cap. Flow
% of AUM
-17.67%
Top 10 Holdings %
Top 10 Hldgs %
82.43%
Holding
35
New
3
Increased
4
Reduced
10
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$515M |
| 2 |
Chubb
CB
|
+$170M |
| 3 |
Morgan Stanley
MS
|
+$99.7M |
| 4 |
DuPont de Nemours
DD
|
+$88.7M |
| 5 |
Axalta
AXTA
|
+$67M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum! Brands
YUM
|
+$837M |
| 2 |
Kraft Heinz
KHC
|
+$603M |
| 3 |
T-Mobile US
TMUS
|
+$259M |
| 4 |
NXP Semiconductors
NXPI
|
+$170M |
| 5 |
PPLI
People Inc
PPLI
|
+$163M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 54.96% |
| 2 | Materials | 13.83% |
| 3 | Consumer Discretionary | 8.22% |
| 4 | Consumer Staples | 8.12% |
| 5 | Technology | 5.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Baxter International
BAX
$11.6B
| $2.05B | 20.84% |
53,850,000
| – | – |
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $1.69B | 17.12% |
5,400,000
+1,731,000
| +47% | +$515M |
|
3
Amgen
AMGN
$203B
| $1.47B | 14.89% |
9,042,900
-807,100
| -8% | -$127M |
|
|
4
DuPont de Nemours
DD
$18.6B
| $1.3B | 13.18% |
9,970,748
+691,042
| +7% | +$88.7M |
|
5
Mohawk Industries
MHK
$6.9B
| $402M | 4.08% |
2,125,000
-25,000
| -1% | -$4.8M |
|
6
Roper Technologies
ROP
$36.3B
| $275M | 2.79% |
1,450,000
-150,000
| -9% | -$27.5M |
|
|
TWC
7
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $260M | 2.64% |
1,400,000
+100,000
| +8% | +$18.5M |
|
|
SEE
8
DELISTED
Sealed Air
SEE
| $234M | 2.37% |
5,250,000
| – | – |
|
9
Constellation Brands
STZ
$22.2B
| $228M | 2.31% |
1,600,000
-150,000
| -9% | -$20.7M |
|
10
Broadcom
AVGO
$1.82T
| $218M | 2.21% |
15,000,000
-1,500,000
| -9% | -$19.5M |
|
11
Danaher
DHR
$135B
| $209M | 2.12% |
3,347,622
| – | – |
|
12
Liberty Global Class C
LBTYK
$3.25B
| $204M | 2.07% |
5,760,000
| – | – |
|
13
J.M. Smucker
SJM
$12.6B
| $204M | 2.06% |
1,650,000
+350,000
| +27% | +$41.7M |
|
14
Molson Coors Class B
TAP
$7.68B
| $188M | 1.91% |
2,000,000
-150,000
| -7% | -$13.5M |
|
|
15
Chubb
CB
$140B
| $175M | 1.78% |
+1,500,000
| New | +$170M |
|
16
AB InBev
BUD
$158B
| $175M | 1.77% |
1,400,000
| – | – |
|
|
BID
17
DELISTED
Sotheby's
BID
| $171M | 1.74% |
6,650,000
| – | – |
|
18
eBay
EBAY
$48.6B
| $110M | 1.11% |
4,000,000
-5,000,000
| -56% | -$138M |
|
|
19
Morgan Stanley
MS
$337B
| $95.4M | 0.97% |
+3,000,000
| New | +$99.7M |
|
|
20
Axalta
AXTA
$7.01B
| $64M | 0.65% |
+2,400,000
| New | +$67M |
|
21
Green Brick Partners
GRBK
$3.13B
| $58.2M | 0.59% |
8,083,022
| – | – |
|
|
APIC
22
DELISTED
Apigee Corporation Common Stock
APIC
| $25.4M | 0.26% |
3,166,551
| – | – |
|
23
Enphase Energy
ENPH
$4.84B
| $21.9M | 0.22% |
6,248,987
| – | – |
|
|
CWEI
24
DELISTED
Clayton Williams Energy, Inc.
CWEI
| $11.8M | 0.12% |
400,000
-475,000
| -54% | -$24.9M |
|
|
25
Kraft Heinz
KHC
$30.4B
| $5.97M | 0.06% |
82,000
-8,168,000
| -99% | -$603M |
|
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Third Point's Q4 2015 Portfolio in Review
As of Q4 2015, Third Point held 35 positions worth $9.86B, down 7% from $10.6B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Third Point withdrew a net $1.74B in Q4 2015, closing 7 positions and reducing 10 holdings. Its most notable exit was T-Mobile US, an estimated $259M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 55% of assets, up from 41% a quarter earlier, followed by Materials and Consumer Discretionary.
Against the trend, Third Point opened a new position in Chubb worth $175M.
- Third Point's largest Q4 2015 buy was Chubb: 1,500,000 shares worth $175M.
- Third Point added most to Allergan plc in Q4 2015, an estimated $515M increase.
- Third Point's biggest Q4 2015 reduction was Yum! Brands, cutting an estimated $837M.
- Third Point fully exited T-Mobile US in Q4 2015, selling an estimated $259M.
- Third Point's ten largest holdings make up 82% of its $9.86B portfolio in Q4 2015.
- Third Point opened 3 new positions and closed 7 in Q4 2015.
- Third Point's portfolio value fell 7% quarter-over-quarter to $9.86B.
Based on Third Point's 13F filing for Q4 2015, filed 12 Feb 2016.