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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
+4.22%
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
$14.3B
AUM Growth
-$45.6M
Cap. Flow
-$1.86B
Cap. Flow %
-13.01%
Top 10 Hldgs %
69.79%
Holding
45
New
7
Increased
10
Reduced
6
Closed
14

Top Buys

Rank Stock Value
1
AXP icon
American Express
AXP
+$520M
2
CPB icon
Campbell Soup
CPB
+$507M
3
MRK icon
Merck
MRK
+$300M
4
SHPG
Shire pic
SHPG
+$277M
5
MSFT icon
Microsoft
MSFT
+$201M

Top Sells

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$1.17B
2
META icon
Meta Platforms (Facebook)
META
+$583M
3
VMC icon
Vulcan Materials
VMC
+$355M
4
BLK icon
Blackrock
BLK
+$324M
5
NFLX icon
Netflix
NFLX
+$272M

Sector Composition

Rank Sector Weight
1 Healthcare 27.71%
2 Technology 16.81%
3 Industrials 14.39%
4 Financials 12.41%
5 Consumer Staples 8.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAX icon
1
Baxter International
BAX
$11.6B
$2.78B 19.4%
36,000,000
– –
GB
2
DELISTED
Global Blue Group Holding
GB
$1.61B 11.28%
15,692,500
– –
RTX icon
3
RTX Corp
RTX
$287B
$1.17B 8.21%
13,347,600
+1,271,200
+11% +$107M
PYPL icon
4
PayPal
PYPL
$49.5B
$795M 5.56%
9,050,000
-950,000
-10% -$83.7M
DD icon
5
DuPont de Nemours
DD
$18.6B
$781M 5.46%
4,797,805
-848,995
-15% -$146M
BABA icon
6
Alibaba
BABA
$269B
$666M 4.66%
4,045,000
+45,000
+1% +$7.96M
CPB icon
7
Campbell Soup
CPB
$6.51B
$659M 4.61%
18,000,000
+12,450,000
+224% +$507M
AXP icon
8
American Express
AXP
$223B
$532M 3.72%
+5,000,000
New +$520M
STZ icon
9
Constellation Brands
STZ
$22.2B
$517M 3.62%
2,400,000
+400,000
+20% +$85M
MSFT icon
10
Microsoft
MSFT
$2.84T
$469M 3.28%
4,100,000
+1,850,000
+82% +$201M
NFLX icon
11
Netflix
NFLX
$292B
$468M 3.27%
12,500,000
-7,500,000
-38% -$272M
DOV icon
12
Dover
DOV
$27.2B
$354M 2.48%
4,000,000
– –
DHR icon
13
Danaher
DHR
$135B
$353M 2.47%
3,666,000
– –
BID
14
DELISTED
Sotheby's
BID
$328M 2.29%
6,661,604
– –
MRK icon
15
Merck
MRK
$324B
$319M 2.23%
+4,716,000
New +$300M
WP
16
DELISTED
Worldpay, Inc.
WP
$309M 2.16%
3,050,000
+150,000
+5% +$13.7M
SHPG
17
DELISTED
Shire pic
SHPG
$290M 2.03%
+1,600,000
New +$277M
MPC icon
18
Marathon Petroleum
MPC
$90.3B
$280M 1.96%
3,500,000
+400,000
+13% +$31.6M
V icon
19
Visa
V
$677B
$255M 1.78%
1,700,000
– –
ADBE icon
20
Adobe
ADBE
$89.5B
$243M 1.7%
900,000
+200,000
+29% +$51.6M
LEN icon
21
Lennar Class A
LEN
$20.4B
$241M 1.69%
5,340,610
-857,390
-14% -$43.2M
DE icon
22
Deere & Co
DE
$170B
$203M 1.42%
1,350,000
+250,000
+23% +$35.9M
IQV icon
23
IQVIA
IQV
$34.7B
$195M 1.36%
+1,500,000
New +$180M
SPGI icon
24
S&P Global
SPGI
$126B
$192M 1.35%
984,900
-315,100
-24% -$65M
CRM icon
25
Salesforce
CRM
$134B
$79.5M 0.56%
500,000
-125,000
-20% -$18.5M
1
2

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Third Point's Q3 2018 Portfolio in Review

As of Q3 2018, Third Point held 45 positions worth $14.3B, down 0.32% from $14.4B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Third Point withdrew a net $1.86B in Q3 2018, closing 14 positions and reducing 6 holdings. Its most notable exit was NXP Semiconductors, an estimated $1.17B position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 28% of assets, up from 21% a quarter earlier, followed by Technology and Industrials.

Against the trend, Third Point opened a new position in American Express worth $532M.

  • Third Point's largest Q3 2018 buy was American Express: 5,000,000 shares worth $532M.
  • Third Point added most to Campbell Soup in Q3 2018, an estimated $507M increase.
  • Third Point's biggest Q3 2018 reduction was Netflix, cutting an estimated $272M.
  • Third Point fully exited NXP Semiconductors in Q3 2018, selling an estimated $1.17B.
  • Third Point's ten largest holdings make up 70% of its $14.3B portfolio in Q3 2018.
  • Third Point opened 7 new positions and closed 14 in Q3 2018.
  • Third Point's portfolio value fell 0.32% quarter-over-quarter to $14.3B.

Based on Third Point's 13F filing for Q3 2018, filed 9 Nov 2018.