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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
-12.22%
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
$6.51B
AUM Growth
-$7.8B
(-55%)
Cap. Flow
-$5.24B
Cap. Flow
% of AUM
-80.47%
Top 10 Holdings %
Top 10 Hldgs %
77.52%
Holding
32
New
1
Increased
4
Reduced
12
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$120M |
| 2 |
Campbell Soup
CPB
|
+$113M |
| 3 |
Salesforce
CRM
|
+$92.8M |
| 4 |
SHPG
Shire pic
SHPG
|
+$20.9M |
| 5 |
IQVIA
IQV
|
+$15.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$1.17B |
| 2 |
Alibaba
BABA
|
+$666M |
| 3 |
Baxter International
BAX
|
+$537M |
| 4 |
Microsoft
MSFT
|
+$469M |
| 5 |
Netflix
NFLX
|
+$468M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 45.99% |
| 2 | Consumer Staples | 14.97% |
| 3 | Financials | 14.58% |
| 4 | Technology | 8.03% |
| 5 | Materials | 7.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baxter International
BAX
$11.6B
| $1.84B | 28.32% |
28,000,000
-8,000,000
| -22% | -$537M |
|
|
2
Campbell Soup
CPB
$6.51B
| $693M | 10.64% |
21,000,000
+3,000,000
| +17% | +$113M |
|
3
DuPont de Nemours
DD
$18.6B
| $516M | 7.93% |
3,812,656
-985,149
| -21% | -$141M |
|
4
PayPal
PYPL
$49.5B
| $338M | 5.2% |
4,025,000
-5,025,000
| -56% | -$419M |
|
5
Danaher
DHR
$135B
| $321M | 4.93% |
3,508,080
-157,920
| -4% | -$14.3M |
|
|
SHPG
6
DELISTED
Shire pic
SHPG
| $299M | 4.6% |
1,719,413
+119,413
| +7% | +$20.9M |
|
7
Constellation Brands
STZ
$22.2B
| $281M | 4.32% |
1,750,000
-650,000
| -27% | -$129M |
|
8
American Express
AXP
$223B
| $276M | 4.25% |
2,900,000
-2,100,000
| -42% | -$220M |
|
|
BID
9
DELISTED
Sotheby's
BID
| $265M | 4.07% |
6,661,604
| – | – |
|
10
Merck
MRK
$324B
| $212M | 3.26% |
2,908,200
-1,807,800
| -38% | -$128M |
|
11
Adobe
ADBE
$89.5B
| $204M | 3.13% |
900,000
| – | – |
|
|
WP
12
DELISTED
Worldpay, Inc.
WP
| $201M | 3.09% |
2,630,000
-420,000
| -14% | -$36.5M |
|
13
Visa
V
$677B
| $198M | 3.04% |
1,500,000
-200,000
| -12% | -$27.6M |
|
|
14
IQVIA
IQV
$34.7B
| $189M | 2.91% |
1,630,000
+130,000
| +9% | +$15.7M |
|
|
15
Salesforce
CRM
$134B
| $161M | 2.47% |
1,175,000
+675,000
| +135% | +$92.8M |
|
|
GB
16
DELISTED
Global Blue Group Holding
GB
| $158M | 2.43% |
15,692,500
| – | – |
|
17
S&P Global
SPGI
$126B
| $136M | 2.09% |
800,000
-184,900
| -19% | -$33.1M |
|
|
18
Cigna
CI
$76.6B
| $109M | 1.68% |
+575,000
| New | +$120M |
|
19
Dover
DOV
$27.2B
| $43.6M | 0.67% |
615,000
-3,385,000
| -85% | -$276M |
|
|
FPAC.U
20
DELISTED
Far Point Acquisition Corporation Units, each consisting of one share of Class A common stock, $0.00
FPAC.U
| $40.4M | 0.62% |
4,000,000
| – | – |
|
|
KDMN
21
DELISTED
Kadmon Holdings, Inc.
KDMN
| $19.6M | 0.3% |
9,407,745
| – | – |
|
22
iShares 1-3 Year Treasury Bond ETF
SHY
$25.4B
| $3.34M | 0.05% |
39,896
-2,646
| -6% | -$220K |
|
|
23
Alibaba
BABA
$269B
| – | – |
-4,045,000
| Closed | -$666M |
|
24
Deere & Co
DE
$170B
| – | – |
-1,350,000
| Closed | -$203M |
|
25
Diamondback Energy
FANG
$57.6B
| – | – |
-500,000
| Closed | -$67.6M |
|
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Third Point's Q4 2018 Portfolio in Review
As of Q4 2018, Third Point held 32 positions worth $6.51B, down 55% from $14.3B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Third Point withdrew a net $5.24B in Q4 2018, closing 10 positions and reducing 12 holdings. Its most notable exit was RTX Corp, an estimated $1.17B position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 46% of assets, up from 28% a quarter earlier, followed by Consumer Staples and Financials.
Against the trend, Third Point opened a new position in Cigna worth $109M.
- Third Point's largest Q4 2018 buy was Cigna: 575,000 shares worth $109M.
- Third Point added most to Campbell Soup in Q4 2018, an estimated $113M increase.
- Third Point's biggest Q4 2018 reduction was Baxter International, cutting an estimated $537M.
- Third Point fully exited RTX Corp in Q4 2018, selling an estimated $1.17B.
- Third Point's ten largest holdings make up 78% of its $6.51B portfolio in Q4 2018.
- Third Point opened 1 new position and closed 10 in Q4 2018.
- Third Point's portfolio value fell 55% quarter-over-quarter to $6.51B.
Based on Third Point's 13F filing for Q4 2018, filed 8 Feb 2019.