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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
-12.29%
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
$6.27B
AUM Growth
-$2.43B
(-28%)
Cap. Flow
-$1.43B
Cap. Flow
% of AUM
-22.81%
Top 10 Holdings %
Top 10 Hldgs %
68.99%
Holding
43
New
6
Increased
5
Reduced
13
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$281M |
| 2 |
Centene
CNC
|
+$250M |
| 3 |
Walt Disney
DIS
|
+$180M |
| 4 |
Ferrari
RACE
|
+$151M |
| 5 |
Charter Communications
CHTR
|
+$147M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Campbell Soup
CPB
|
+$712M |
| 2 |
Baxter International
BAX
|
+$511M |
| 3 |
Boston Scientific
BSX
|
+$226M |
| 4 |
Fox Class A
FOXA
|
+$185M |
| 5 |
RTX Corp
RTX
|
+$162M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 46.04% |
| 2 | Technology | 17.33% |
| 3 | Consumer Discretionary | 15.28% |
| 4 | Industrials | 8.04% |
| 5 | Financials | 6.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Baxter International
BAX
$11.6B
| $940M | 15% |
11,580,000
-5,920,000
| -34% | -$511M |
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $764M | 12.19% |
4,311,500
+711,500
| +20% | +$134M |
|
3
Danaher
DHR
$135B
| $494M | 7.89% |
4,026,960
-157,920
| -4% | -$21.3M |
|
|
4
Amazon
AMZN
$2.5T
| $419M | 6.69% |
4,300,000
+2,900,000
| +207% | +$281M |
|
|
5
Centene
CNC
$31.3B
| $387M | 6.18% |
6,515,000
+4,115,000
| +171% | +$250M |
|
|
6
RTX Corp
RTX
$287B
| $377M | 6.02% |
6,356,000
-1,917,923
| -23% | -$162M |
|
7
Fidelity National Information Services
FIS
$21.5B
| $285M | 4.55% |
2,345,000
-155,000
| -6% | -$21.5M |
|
8
Visa
V
$677B
| $226M | 3.6% |
1,400,000
-100,000
| -7% | -$18.8M |
|
9
Salesforce
CRM
$134B
| $220M | 3.5% |
1,525,000
-675,000
| -31% | -$116M |
|
10
Adobe
ADBE
$89.5B
| $212M | 3.38% |
665,000
-285,000
| -30% | -$97.5M |
|
11
IQVIA
IQV
$34.7B
| $198M | 3.16% |
1,835,000
-165,000
| -8% | -$23.6M |
|
|
IAA
12
DELISTED
IAA, Inc. Common Stock
IAA
| $195M | 3.11% |
6,500,000
| – | – |
|
13
S&P Global
SPGI
$126B
| $190M | 3.03% |
775,000
-25,000
| -3% | -$6.86M |
|
14
Burlington
BURL
$22B
| $178M | 2.84% |
1,125,000
-275,000
| -20% | -$57.9M |
|
|
15
Ferrari
RACE
$63.3B
| $166M | 2.64% |
1,085,000
+935,000
| +623% | +$151M |
|
|
GB
16
DELISTED
Global Blue Group Holding
GB
| $159M | 2.53% |
15,692,500
| – | – |
|
|
17
Walt Disney
DIS
$165B
| $138M | 2.2% |
+1,425,000
| New | +$180M |
|
|
18
Charter Communications
CHTR
$15.2B
| $131M | 2.09% |
+300,000
| New | +$147M |
|
19
Roper Technologies
ROP
$36.3B
| $85.7M | 1.37% |
+275,000
| New | +$97.4M |
|
20
TE Connectivity
TEL
$58.8B
| $85M | 1.36% |
+1,350,000
| New | +$115M |
|
|
TMX
21
DELISTED
Terminix Global Holdings, Inc.
TMX
| $83.7M | 1.34% |
+3,100,000
| New | +$106M |
|
22
Sherwin-Williams
SHW
$78.3B
| $68.9M | 1.1% |
+450,000
| New | +$81.2M |
|
23
Avantor
AVTR
$7.81B
| $62.5M | 1% |
5,000,000
-2,000,000
| -29% | -$32.1M |
|
|
RTN
24
DELISTED
Raytheon Company
RTN
| $42.8M | 0.68% |
326,500
-228,700
| -41% | -$45.3M |
|
|
FPAC.U
25
DELISTED
Far Point Acquisition Corporation Units, each consisting of one share of Class A common stock, $0.00
FPAC.U
| $40.6M | 0.65% |
4,000,000
| – | – |
|
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Third Point's Q1 2020 Portfolio in Review
As of Q1 2020, Third Point held 43 positions worth $6.27B, down 28% from $8.7B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Third Point withdrew a net $1.43B in Q1 2020, closing 13 positions and reducing 13 holdings. Its most notable exit was Campbell Soup, an estimated $712M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 46% of assets, up from 41% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Third Point opened a new position in Walt Disney worth $138M.
- Third Point's largest Q1 2020 buy was Walt Disney: 1,425,000 shares worth $138M.
- Third Point added most to Amazon in Q1 2020, an estimated $281M increase.
- Third Point's biggest Q1 2020 reduction was Baxter International, cutting an estimated $511M.
- Third Point fully exited Campbell Soup in Q1 2020, selling an estimated $712M.
- Third Point's ten largest holdings make up 69% of its $6.27B portfolio in Q1 2020.
- Third Point opened 6 new positions and closed 13 in Q1 2020.
- Third Point's portfolio value fell 28% quarter-over-quarter to $6.27B.
Based on Third Point's 13F filing for Q1 2020, filed 15 May 2020.