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Third Point Portfolio holdings
AUM
$4.68B
Turnover
50%
1-Year Est. Return
37.3%
This Fund
S&P 500
This Quarter Est. Return
+18.29%
1 Year Est. Return
+37.3%
3 Year Est. Return
+159.49%
5 Year Est. Return
+329.12%
10 Year Est. Return
+1,791.94%
AUM
$8.99B
AUM Growth
+$2.49B
(+38%)
Cap. Flow
+$1.34B
Cap. Flow % of AUM
Cap. Flow %
14.93%
Top 10 Holdings %
Top 10 Hldgs %
70.4%
Holding
35
New
13
Increased
1
Reduced
7
Closed
4
Avg Time Held
Equity + Options
1.3
years
Top 10 Avg Time Held
Equity + Options
1.1
years
Top 20 Avg Time Held
Equity + Options
1.3
years
Avg Time Held Equity only
1.3
years
Top 10 Avg Time Held Equity only
1.1
years
Top 20 Avg Time Held Equity only
1.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RTX Corp
RTX
|
+$782M |
| 2 |
Fox Class A
FOXA
|
+$380M |
| 3 |
Marathon Petroleum
MPC
|
+$220M |
| 4 |
Boston Scientific
BSX
|
+$191M |
| 5 |
CELG
Celgene Corp
CELG
|
+$153M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SHPG
Shire pic
SHPG
|
+$299M |
| 2 |
Merck
MRK
|
+$212M |
| 3 |
American Express
AXP
|
+$147M |
| 4 |
Constellation Brands
STZ
|
+$118M |
| 5 |
Cigna
CI
|
+$109M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 38.27% |
| 2 | Industrials | 12.08% |
| 3 | Technology | 11.67% |
| 4 | Consumer Staples | 10.95% |
| 5 | Financials | 10.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Baxter International
BAX
$13.3B
| $2.28B | 25.31% |
28,000,000
| – | – |
2015 Q2
15 quarters
|
|
|
2
RTX Corp
RTX
$262B
| $835M | 9.29% |
+10,296,720
| New | +$782M |
2019 Q1
0 quarters
|
|
3
Campbell Soup
CPB
$6.34B
| $801M | 8.9% |
21,000,000
| – | – |
2018 Q2
3 quarters
|
|
4
Danaher
DHR
$162B
| $490M | 5.45% |
4,184,880
+676,800
| +19% | +$69.4M |
2015 Q3
14 quarters
|
|
5
DuPont de Nemours
DD
$18.2B
| $466M | 5.18% |
3,453,235
-359,421
| -9% | -$49.9M |
2013 Q4
21 quarters
|
|
6
PayPal
PYPL
$49.2B
| $363M | 4.04% |
3,500,000
-525,000
| -13% | -$49.7M |
2018 Q2
3 quarters
|
|
|
7
Fox Class A
FOXA
$28.8B
| $358M | 3.98% |
+9,755,000
| New | +$380M |
2019 Q1
0 quarters
|
|
|
BID
8
DELISTED
Sotheby's
BID
| $251M | 2.8% |
6,661,604
| – | – |
2013 Q2
23 quarters
|
|
|
WP
9
DELISTED
Worldpay, Inc.
WP
| $250M | 2.78% |
2,200,000
-430,000
| -16% | -$39M |
2017 Q3
6 quarters
|
|
10
Adobe
ADBE
$105B
| $240M | 2.67% |
900,000
| – | – |
2018 Q1
4 quarters
|
|
11
IQVIA
IQV
$45.8B
| $234M | 2.61% |
1,630,000
| – | – |
2018 Q3
2 quarters
|
|
12
Visa
V
$778B
| $234M | 2.61% |
1,500,000
| – | – |
2018 Q2
3 quarters
|
|
|
13
Marathon Petroleum
MPC
$129B
| $209M | 2.33% |
+3,500,000
| New | +$220M |
2019 Q1
0 quarters
|
|
|
14
Boston Scientific
BSX
$66.7B
| $192M | 2.13% |
+5,000,000
| New | +$191M |
2019 Q1
0 quarters
|
|
15
Salesforce
CRM
$206B
| $186M | 2.07% |
1,175,000
| – | – |
2018 Q1
4 quarters
|
|
|
16
Constellation Brands
STZ
$23.5B
| $184M | 2.05% |
1,050,000
-700,000
| -40% | -$118M |
2013 Q2
23 quarters
|
|
|
CELG
17
DELISTED
Celgene Corp
CELG
| $165M | 1.84% |
+1,750,000
| New | +$153M |
2019 Q1
0 quarters
|
|
|
18
American Express
AXP
$220B
| $164M | 1.82% |
1,500,000
-1,400,000
| -48% | -$147M |
2018 Q3
2 quarters
|
|
19
S&P Global
SPGI
$134B
| $160M | 1.78% |
760,000
-40,000
| -5% | -$7.75M |
2016 Q2
11 quarters
|
|
20
DELISTED
Global Blue Group Holding
GB
| $156M | 1.74% |
15,692,500
| – | – |
2018 Q2
3 quarters
|
|
21
Ross Stores
ROST
$75.6B
| $149M | 1.66% |
+1,600,000
| New | +$147M |
2019 Q1
0 quarters
|
|
22
Netflix
NFLX
$279B
| $143M | 1.59% |
+4,000,000
| New | +$139M |
2019 Q1
0 quarters
|
|
|
BKI
23
DELISTED
Black Knight, Inc. Common Stock
BKI
| $95.4M | 1.06% |
+1,750,000
| New | +$88.3M |
2019 Q1
0 quarters
|
|
24
Chemours
CC
$1.96B
| $74.3M | 0.83% |
+2,000,000
| New | +$72.8M |
2019 Q1
0 quarters
|
|
25
PUT
International Flavors & Fragrances
IFF
$23.9B
| $64.4M | 0.72% |
+500,000
| New | +$66.3M |
2019 Q1
0 quarters
|
|
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Third Point's Q1 2019 Portfolio in Review
As of Q1 2019, Third Point held 35 positions worth $8.99B, up 38% from $6.51B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Third Point deployed $1.34B of net new capital in Q1 2019, opening 13 new positions and adding to 1 existing holding. Its largest new stake was RTX Corp: 10,296,720 shares worth $835M.
By sector, the portfolio is most concentrated in Healthcare at 38% of assets, down from 46% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was American Express, an estimated $147M trimmed.
- Third Point's largest Q1 2019 buy was RTX Corp: 10,296,720 shares worth $835M.
- Third Point added most to Danaher in Q1 2019, an estimated $69.4M increase.
- Third Point's biggest Q1 2019 reduction was American Express, cutting an estimated $147M.
- Third Point fully exited Shire pic in Q1 2019, selling an estimated $299M.
- Third Point's ten largest holdings make up 70% of its $8.99B portfolio in Q1 2019.
- Third Point opened 13 new positions and closed 4 in Q1 2019.
- Third Point's portfolio value rose 38% quarter-over-quarter to $8.99B.
Based on Third Point's 13F filing for Q1 2019, filed 15 May 2019.