Daniel Loeb

Daniel Loeb

Last Update: 2014-03-13

Number of Stocks: 45
Number of New Stocks: 16

Total Value: $5,802 Mil
Q/Q Turnover: 40%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Daniel Loeb Watch

  • Daniel Loeb’s Top 3 Growth Stocks

    Increasingly, legendary activist investor Daniel Loeb, founder of New York-based hedge fund Third Point LLC, has long locked-in his reputation in the investing world largely by stirring media controversy through his very public shareholder letters that boldly highlight his aggressive attempts to push for change and replenish company board seats.

    Case in point, Loeb’s successful proxy contest with Yahoo (YHOO) last year, penning letters mocking, in his words, Yahoo’s “crappy interface” and “stupid logo,” as well as expressing that Yahoo “had one of the most horrendous management teams” he’d ever seen.  


  • Daniel Loeb Up 21 Percent on Wins in Greek Bonds, Yahoo, AIG

    Daniel Loeb’s Third Point hedge fund, which has $10.1 billion in assets under management, has achieved a 21.2% year-to-date return, compared to 16% for the S&P 500. This is after gaining 3.6% in December, outpacing the S&P’s 0.9%. The outperformance was driven by his best-performing investments: Greek government bonds, Yahoo! Inc. (YHOO) and American International Group (AIG). Loeb describes his firm as event-driven value investors.

    Greek Government Bonds
      


  • Daniel Loeb Reshuffles Portfolio – Murphy Oil, Kraft, Nexen, Symantec Biggest Buys

    Daniel Loeb, who routinely kills in the market at his New York-based, $8.7 billion hedge fund Third Point LLC, has updated his third quarter portfolio. The largest positions to join his portfolio in the quarter include Murphy Oil Corp. (MUR), Kraft Foods Group (KRFT), Nexen Inc. (NXY), Symantec Corp. (SYMC) and Wesco International (WCC).

    The manager has beat the S&P 500 43% to -1.1% cumulatively in the last five years targeting undervalued companies and, often, firing critical letters at their underperforming executives.  


  • Loeb’s Top Stocks Not Discussed in His Q3 Letter - Yahoo, Gold, Apple

    Daniel Loeb, founder of $9.3 billion hedge fund Third Point, on Tuesday announced his September top positions in his monthly report: Yahoo (YHOO), AIG (AIG), Gold (GLD), Apple (AAPL), Murphy Oil Corp. (MUR) and Greek government bonds. He did not specify which were long or short positions. From January to the end of the third quarter, Loeb’s fund returned 10.9%, compared to 16.4% for the S&P 500. He also has a 17.2% annualized return since inception, compared to 10% for the S&P.

    Yesterday, Loeb published his third quarter letter, in which he gave his analysis of the markets and several of his holdings. He said he is confident in the positions he holds amidst continued macroeconomic and political uncertainty, and has increased capital concentration in his best ideas. “Our portfolio is filled with compelling, attractively-valued, catalyst-oriented situations that are appropriately sized to our convictions,” he wrote. A portfolio of short positions is set to protect against unforeseen volatility.  


  • Daniel Loeb Comments on AIG

    Equity: AIG (AIG)
    We originally purchased AIG shares in March after identifying the US Treasury’s impending sales of its AIG holdings as an instance of one of our favorite types of investments: “forced” (or non-economically-motivated) selling. We determined Treasury was both anchored to its $29 cost basis and intent on exiting its position as soon as possible, allowing us to purchase AIG at a discount to intrinsic value. In addition to the forced selling dynamic that created the opportunity, we believed AIG’s substantial capital return – manifested as buybacks in the Treasury’s offering – provided downside protection. Finally, we also liked the technical bid for AIG shares coming out of the offering, as its index weighting would increase with the reduction in government-owned shares, forcing index-sensitive investors to grow their position in the equity.  


  • Daniel Loeb's Third Point Comments on Murphy Oil

    Long Equity: Murphy Oil (MUR)

    Although we've come to the end of the road  


  • Dan Loeb's Third Quarter 2012 Third Point Investor Letter

    Review and Outlook: After a poor Second Quarter in which fears about macroeconomic contagion caused a capital flight from risk assets, the Third Quarter rewarded stock picking and event-driven situations. Mirroring the First Quarter of this year, our portfolio benefitted from strength across strategies, geographies, and sectors. We matched the market’s 6.4% gain with significantly less exposure. Remarkably, our best performer was a special situation investigative short which imploded, declining over 50% and contributing nearly 1% to results. Core positions like Delphi (DFG), Ally Financial (GMSPZ) and Gold (GLD), which suffered in the Second Quarter, rebounded along with the markets.

    As we discuss in more detail below, the Third Quarter provided many opportunities to initiate or size up high-conviction positions. Following an analysis of our performance for the past several years, we have both reduced our overall number of positions and increased the concentration of capital invested in our “best ideas.” We expect that the decrease in our equity book’s diversification should produce improved but “chunkier” returns, and thus a moderate but acceptable increase in volatility.  


  • Third Point's Daniel Loeb Reveals New Positions, Including Greek Government Bonds

    Third Point’s Daniel Loeb issued his September fact sheet containing his top current positions: Yahoo! Inc. (YHOO), American International Group (AIG), Gold, Apple Inc. (AAPL), Murphy Oil Corp. (MUR) and Greek government bonds.

    The positioning shows that Kraft Foods (KFT) has moved out of his top holdings since last month, replaced by new top positions Murphy Oil and Greek government bonds. Loeb lists the bonds as third in his list of top five winners for the month. The positions in Apple, Murphy and Greek government bonds are of approximately equal size, he says. In a 13F amendment released today, Loeb discloses that the size of his Murphy stake is 1.5 million shares.  


  • Daniel Loeb’s Top 5 New Stocks

    Daniel Loeb, founder of Third Point LLC, a New York-based hedge fund managing over $2.3 billion in assets, bought 22 new stocks in the second quarter for his portfolio of 40 stocks. Read his thoughts on the market and his holdings in his second-quarter letter here.

    The largest new buys are: UnitedHealth Group (UNH), News Corp. (NWSA), Cabot Oil & Gas Corp. (COG), Plains Exploration & Gas Corp. (PXP) and Coca-Cola Enterprises (CCE).  


  • Daniel Loeb Comments on Progress Energy Resources Corp

    From Third Point's second-quarter letter:

    Long Equity and Debt: Progress Energy Resources Corp.  


  • Daniel Loeb Comments on Delphi

    From Third Point's second-quarter letter:

    Long Equity: Delphi (DFG) Update  


  • Daniel Loeb Comments on Yahoo

    From Third Point's second-quarter letter:

    Third Point's investment in Yahoo! (YHOO) appreciated 4% during the second quarter. Due to Yahoo!'s concentrated size in our funds, this modest appreciation still made it the biggest winner for the period.  


  • Daniel Loeb Comments on Yahoo, Delphi, Europe in Second Quarter Letter

    Review and Outlook
    The second quarter was marked by choppy markets caused by fears about Europe, a soft patch in the U.S., more signs of a Chinese slowdown, and U.S. consumers and business owners alike frustrated by the Obama Administration, which is openly hostile to most businesses and unable to articulate or implement policies to spark growth and reduce unemployment. Since "Euro‐phobia" has roiled the markets for over twelve months, we attributed the second quarter's sell‐off mostly to the renewed worries over US weakness and pervasive concerns about a Chinese hard landing, which punished any assets linked to global growth.  


  • Daniel Loeb Continues to Buy Yahoo Shares

    It is no surprise that Daniel Loeb likes Yahoo (YHOO), but another purchase of a parcel of shares affirmed it. On July 23 – a week after the company announced the appointment of new President and COE Marissa Miller – he added 4,212,400 Yahoo shares at about $15.76 per share.

    Loeb began amassing his Yahoo stock in 2011, the year the company’s revenue dropped to $5 billion from $6.3 billion the previous year, its lowest level since 2004. It immediately became clear through a vociferous and public letter-writing campaign Loeb launched that he wanted to force change at the company. One of his victories was ousting the company’s then-CEO, Scott Thompson, after exposing untruths on Thompson’s resume in May. Shortly thereafter, he won a seat on the board of directors that hired Mayer.  


  • Giving Credit Where Credit Is Due…Thank You Daniel Loeb

    There are a few things that I feel many people get wrong. One of them that I discuss here is the idea that simply taxing the rich is a solution to every money problem. Another one that I wanted to discuss briefly is the idea that hedge funds, activist investors and other large funds are the root of all evil and bad for the markets in general. The actual example occurred last week when Yahoo named its new CEO, Marissa Mayer, an incredible hire. The fact is that like so many others, I have been extremely critical of Yahoo over the years. Its leadership, coming from the very top was terrible, leading a company that once was a jewel into the ground slowly but surely. Worst of all was the board. You can blame Carol Bartz all day long but when CEO after CEO that not only performs poorly but reflects poorly on the company, led to massive talent losses, etc…

    Something Had To Be Done

    In a situation like this, everyone was losing. Shareholders, employees, users, etc. But what could be done? It’s difficult and sometimes even possible for small investors to get together and fire a board…  


  • Dan Loeb's Third Point Discloses Stake in Chesapeake Energy

    Dan Loeb of Third Point hedge fund has reported Chesapeake (CHK) was his fourth-largest holding, but does not say what type of investment they have in the company:

      


  • How Hedge Fund Manager Dan Loeb Thinks about macro and Express Their Bets

    In a previous article we asked the question on Should Value Investors Pay Attention to the Macro Picture? We think that value investors should spend most of them time studying companies. Our readers pointed out that Warren Buffett made a lot of bets based on his view on macro.

    Hedge fund activist investor Dan Loeb makes a large amount of bets based on macro. His view is worth sharing here as he has built great track record. His Offshore Fund gained 17.5% a year since inception in 1996. During the same period S&P500 gained only 6%.  


  • Why Hedge Fund Third Point's Dan Loeb Likes Apple

    Hedge Fund Third Point bought 362,000 shares of Apple in the first quarter of 2012. This is why Dan Loeb likes Apple (AAPL), according to his latest investment letter.

    Long Equity: Apple (AAPL) Following Apple’s December quarter earnings, we re‐established a position in the stock at $445 per share, a level 10% up from the pre‐earnings price. While the market reacted positively to the strong results, we believed it was still not discounting adequately the strong likelihood that Apple would return capital in 2012. The prospect of capital return stood to broaden the investor base enabling the market capitalization to re‐base around an attractive dividend profile, particularly relative to the Company’s growth rate. Beyond the capital return catalyst, we were focused on Apple’s entry into the 4G device space in 2012, led by the latest iPad and the pending iPhone 5.  


  • Daniel Loeb Buys Big Stakes in Delphi, Apple, Google

    Daniel Loeb, founder of $8.9 billion hedge fund Third Point LLC, bought 26 new stocks for his 43-stock portfolio in the first quarter of 2012, with some major changes — seven of his top-ten holdings are new buys. For his top new buy, he devoted 10.3% of his portfolio to Delphi Auto Plc (DLPH), followed by positions in Apple Inc. (APPL), UTD Techs Corp. (UTX), Google Inc. (GOOG), and Medco Health Solutions (MHS).

    Loeb also added 25.89% to his largest position, Yahoo (YHOO). More than 44% of his quarter-end portfolio was invested in the technology sector. The positioning earned him a 12.4% return in the first quarter, roughly in line with the markets. In the last 10 years, Loeb returned 261.7% cumulatively, compared to 34.9% for the S&P 500.  


  • Dan Loeb Sees $122 Million Profit on Yahoo! as He Forces CEO Exit

    Daniel Loeb’s New York-based Third Point LLC, has made almost $122 million so far on its stake in Yahoo! Inc. (YHOO) after successfully forcing Chief Executive Officer Scott Thompson to step down.

    Loeb, 50, whose hedge fund owns 5.8 percent of the Web portal, has been pushing to shake up its board since September 2011, when he told the company that directors had erred in spurning a takeover bid from Microsoft Corp. Yahoo rose the most in three weeks yesterday following Thompson’s decision to leave, after Loeb flagged discrepancies in the CEO’s resume.  


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