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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
+4.4%
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
$10.2B
AUM Growth
-$1.31B
(-11%)
Cap. Flow
-$1.35B
Cap. Flow
% of AUM
-13.27%
Top 10 Holdings %
Top 10 Hldgs %
62.44%
Holding
50
New
12
Increased
5
Reduced
15
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$400M |
| 2 |
Bank of America
BAC
|
+$337M |
| 3 |
TWX
Time Warner Inc
TWX
|
+$267M |
| 4 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$229M |
| 5 |
Humana
HUM
|
+$191M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$872M |
| 2 |
Alibaba
BABA
|
+$275M |
| 3 |
MON
Monsanto Co
MON
|
+$267M |
| 4 |
Meta Platforms (Facebook)
META
|
+$239M |
| 5 |
TransDigm Group
TDG
|
+$231M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 31.7% |
| 2 | Financials | 14.38% |
| 3 | Materials | 13.32% |
| 4 | Communication Services | 12.5% |
| 5 | Industrials | 9.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Baxter International
BAX
$11.6B
| $2.3B | 22.59% |
51,901,767
| – | – |
|
2
DuPont de Nemours
DD
$18.6B
| $973M | 9.55% |
6,712,979
-1,184,643
| -15% | -$165M |
|
|
3
Humana
HUM
$46.7B
| $490M | 4.81% |
2,400,000
+1,000,000
| +71% | +$191M |
|
4
Constellation Brands
STZ
$22.2B
| $460M | 4.51% |
3,000,000
+800,000
| +36% | +$127M |
|
|
5
JPMorgan Chase
JPM
$939B
| $453M | 4.45% |
+5,250,000
| New | +$400M |
|
|
6
Meta Platforms (Facebook)
META
$1.51T
| $403M | 3.95% |
3,500,000
-1,950,000
| -36% | -$239M |
|
|
7
Bank of America
BAC
$435B
| $387M | 3.8% |
+17,500,000
| New | +$337M |
|
8
Alphabet (Google) Class A
GOOGL
$3.91T
| $337M | 3.31% |
8,500,000
-2,500,000
| -23% | -$100M |
|
|
TWX
9
DELISTED
Time Warner Inc
TWX
| $290M | 2.84% |
+3,000,000
| New | +$267M |
|
10
Sherwin-Williams
SHW
$78.3B
| $269M | 2.64% |
3,000,000
+375,000
| +14% | +$33.1M |
|
|
BID
11
DELISTED
Sotheby's
BID
| $266M | 2.61% |
6,661,604
| – | – |
|
12
Danaher
DHR
$135B
| $253M | 2.48% |
3,666,000
-1,410,000
| -28% | -$97.9M |
|
13
Charter Communications
CHTR
$15.2B
| $245M | 2.4% |
850,000
-150,000
| -15% | -$40.4M |
|
14
Mohawk Industries
MHK
$6.9B
| $240M | 2.35% |
1,200,000
+300,000
| +33% | +$58.9M |
|
|
ZAYO
15
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $230M | 2.26% |
+7,000,000
| New | +$229M |
|
16
General Dynamics
GD
$105B
| $224M | 2.2% |
1,300,000
-50,000
| -4% | -$8.18M |
|
17
Apple
AAPL
$4.89T
| $214M | 2.1% |
7,400,000
-2,600,000
| -26% | -$73.7M |
|
18
S&P Global
SPGI
$126B
| $172M | 1.69% |
1,600,000
-400,000
| -20% | -$47.8M |
|
19
Molson Coors Class B
TAP
$7.68B
| $165M | 1.62% |
1,700,000
| – | – |
|
|
PVTB
20
DELISTED
PrivateBancorp Inc
PVTB
| $163M | 1.6% |
+3,000,000
| New | +$144M |
|
21
Honeywell
HON
$77B
| $159M | 1.56% |
+1,522,120
| New | +$155M |
|
22
Chubb
CB
$140B
| $159M | 1.56% |
1,200,000
-600,000
| -33% | -$76.5M |
|
23
Elevance Health
ELV
$81.9B
| $144M | 1.41% |
+1,000,000
| New | +$134M |
|
24
Dell
DELL
$283B
| $143M | 1.4% |
9,264,419
+1,068,972
| +13% | +$15.3M |
|
25
Union Pacific
UNP
$182B
| $119M | 1.17% |
1,150,000
-100,000
| -8% | -$9.83M |
|
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Third Point's Q4 2016 Portfolio in Review
As of Q4 2016, Third Point held 50 positions worth $10.2B, down 11% from $11.5B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Third Point withdrew a net $1.35B in Q4 2016, closing 12 positions and reducing 15 holdings. Its most notable exit was Allergan plc, an estimated $872M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 32% of assets, down from 38% a quarter earlier, followed by Financials and Materials.
Against the trend, Third Point opened a new position in JPMorgan Chase worth $453M.
- Third Point's largest Q4 2016 buy was JPMorgan Chase: 5,250,000 shares worth $453M.
- Third Point added most to Humana in Q4 2016, an estimated $191M increase.
- Third Point's biggest Q4 2016 reduction was Monsanto Co, cutting an estimated $267M.
- Third Point fully exited Allergan plc in Q4 2016, selling an estimated $872M.
- Third Point's ten largest holdings make up 62% of its $10.2B portfolio in Q4 2016.
- Third Point opened 12 new positions and closed 12 in Q4 2016.
- Third Point's portfolio value fell 11% quarter-over-quarter to $10.2B.
Based on Third Point's 13F filing for Q4 2016, filed 10 Feb 2017.