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Hedge Fund Third Point Portfolio Updates: Buys PXP, VPFG, XRM

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Hedge Fund Third Point LLC is run by activist investor Daniel Loeb. The firm reported its second quarter portfolio last week. These are the details of its buys and sales.

Third Point had a good year so far. The fund was up 13.7% as of July 31, the market was almost flat. Third Point invests heavily in risk arbitrage situations and debt securities. The fund was 43.8% long and 12.1% short. The total asset under management was $1.8 billion. You can read Third Point’s update for July here.

Third Point, LLC. Daniel Loeb owns 26 stocks with a total value of $906 million. These are the details of the buys and sells.

For the details of Daniel Loeb's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Daniel+Loeb

This is the sector weightings of his portfolio:

Health Care 23.1%
Industrials 20.9%
Financials 15.5%
Consumer Services 11.5%
Technology 10.6%
Basic Materials 8.2%
Consumer Goods 5.7%
Oil & Gas 2.3%


These are the top 5 holdings of Daniel Loeb

  1. TransDigm Group Inc. (TDG) - 1,800,000 shares, 10.14% of the total portfolio.
  2. Alcon Inc. (ACL) - 600,000 shares, 9.81% of the total portfolio. Shares added by 166.67%
  3. CIT Group Inc. (CIT) - 2,446,500 shares, 9.14% of the total portfolio. Shares added by 4.11%
  4. PHH Corp. (PHH) - 4,170,200 shares, 8.76% of the total portfolio. Shares reduced by 7.33%
  5. Health Net Inc. (HNT) - 3,000,000 shares, 8.07% of the total portfolio.


Added: Alcon Inc. (ACL)

Daniel Loeb added to his holdings in Alcon Inc. by 166.67%. His purchase prices were between $135 and $161.38, with an estimated average price of $150.54. The impact to his portfolio due to this purchase was 6.13%. His holdings were 600,000 shares as of 06/30/2010.

Alcon, Inc. is the world's eye care company. Alcon Inc. has a market cap of $47.89 billion; its shares were traded at around $159.52 with a P/E ratio of 21.4 and P/S ratio of 7.4. The dividend yield of Alcon Inc. stocks is 2.1%. Alcon Inc. had an annual average earning growth of 18.3% over the past 10 years.

Added: Macy's Inc. (M)

Daniel Loeb added to his holdings in Macy's Inc. by 333.33%. His purchase prices were between $17.77 and $24.85, with an estimated average price of $22.16. The impact to his portfolio due to this purchase was 3.95%. His holdings were 2,600,000 shares as of 06/30/2010.

Federated Department Stores, through its subsidiaries, is one of the operators of full-line department stores in the United States. Macy's Inc. has a market cap of $8.27 billion; its shares were traded at around $19.59 with a P/E ratio of 11.1 and P/S ratio of 0.4. The dividend yield of Macy's Inc. stocks is 1%.

Added: Airgas Inc. (ARG)

Daniel Loeb added to his holdings in Airgas Inc. by 16.76%. His purchase prices were between $59.79 and $64.4, with an estimated average price of $43.43. The impact to his portfolio due to this purchase was 1.06%. His holdings were 1,080,000 shares as of 06/30/2010.

Airgas, Inc., through its subsidiaries, is the largest U. Airgas Inc. has a market cap of $5.55 billion; its shares were traded at around $66.45 with a P/E ratio of 23.3 and P/S ratio of 1.4. The dividend yield of Airgas Inc. stocks is 1.3%. Airgas Inc. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Airgas Inc. the business predictability rank of 4-star.

Added: CIT Group Inc. (CIT)

Daniel Loeb added to his holdings in Cit Group Inc. by 4.11%. His purchase prices were between $33.81 and $41.75, with an estimated average price of $37.87. The impact to his portfolio due to this purchase was 0.36%. His holdings were 2,446,500 shares as of 06/30/2010.

CIT Group Inc. is a bank holding company that provides financing and leasing capital for commercial companies throughout the world. Cit Group Inc. has a market cap of $7.25 billion; its shares were traded at around $36.23 with and P/S ratio of 1.8.

Added: Liberty Media Corp. Interactive Common S (LINTA)

Daniel Loeb added to his holdings in Liberty Media Corp. Interactive Common S by 4.17%. His purchase prices were between $10.71 and $16.47, with an estimated average price of $14. The impact to his portfolio due to this purchase was 0.23%. His holdings were 5,000,000 shares as of 06/30/2010.

Liberty Media Corporation owns a broad range of electronic retailing, media, communications and entertainment businesses and investments. Liberty Media Corp. Interactive Common S has a market cap of $5.82 billion; its shares were traded at around $10.25 with and P/S ratio of 0.8.

New Purchase: Xerium Technologies Inc. (XRM)

Daniel Loeb initiated holdings in Xerium Technologies Inc.. His purchase prices were between $13.4 and $26.4, with an estimated average price of $18.99. The impact to his portfolio due to this purchase was 2.02%. His holdings were 1,294,507 shares as of 06/30/2010.

Xerium Technologies is a global manufacturer and supplier of two products used primarily in the production of paper: clothing and roll covers. Xerium Technologies Inc. has a market cap of $521.6 million; its shares were traded at around $10.23 with and P/S ratio of 1.

New Purchase: Plains Exploration & Production Company (PXP)

Daniel Loeb initiated holdings in Plains Exploration & Production Company. His purchase prices were between $19.34 and $34.55, with an estimated average price of $26.33. The impact to his portfolio due to this purchase was 0.91%. His holdings were 400,000 shares as of 06/30/2010.

PLAINS EXPLORATION & PRODUCTION COMPANY is an independent oil and gas company primarily engaged in the activities of acquiring, developing, exploring and producing oil and gas properties primarily in the United States. Plains Exploration & Production Company has a market cap of $3.16 billion; its shares were traded at around $22.52 with a P/E ratio of 6.7 and P/S ratio of 2.7.

New Purchase: Viewpoint Financial Group (VPFG)

Daniel Loeb initiated holdings in Viewpoint Financial Group. His purchase prices were between $14.36 and $17.76, with an estimated average price of $16.17. The impact to his portfolio due to this purchase was 0.86%. His holdings were 775,100 shares as of 06/30/2010.

VIEWPOINT FINANCIAL GROUP is the holding company for Plano-based ViewPoint Bank. Viewpoint Financial Group has a market cap of $315.9 million; its shares were traded at around $9.05 with a P/E ratio of 70.4 and P/S ratio of 2.3. The dividend yield of Viewpoint Financial Group stocks is 1.7%.

Reduced: Rf Micro Devices Inc. (RFMD)

Daniel Loeb reduced to his holdings in Rf Micro Devices Inc. by 24%. His sale prices were between $4.1 and $5.92, with an estimated average price of $4.99. The impact to his portfolio due to this sale was -0.39%. Daniel Loeb still held 3,800,000 shares as of 06/30/2010.

RF Micro Devices, Inc. is a global leader in the design and manufacture of high-performance radio systems and solutions for applications that drive mobile communications. Rf Micro Devices Inc. has a market cap of $1.39 billion; its shares were traded at around $5.12 with a P/E ratio of 10.9 and P/S ratio of 1.4.

Reduced: Advanced Micro Devices Inc. (AMD)

Daniel Loeb reduced to his holdings in Advanced Micro Devices Inc. by 55.56%. His sale prices were between $7.48 and $10.16, with an estimated average price of $8.86. The impact to his portfolio due to this sale was -0.45%. Daniel Loeb still held 1,000,000 shares as of 06/30/2010.

Advanced Micro Devices, Inc. is a world-class company with the innovation, execution, and vision to grow our leadership position in the industry. Advanced Micro Devices Inc. has a market cap of $4.03 billion; its shares were traded at around $5.99 with and P/S ratio of 0.8.

Reduced: Nabi Biopharmaceuticals (NABI)

Daniel Loeb reduced to his holdings in Nabi Biopharmaceuticals by 22.22%. His sale prices were between $4.98 and $5.8, with an estimated average price of $5.53. The impact to his portfolio due to this sale was -0.61%. Daniel Loeb still held 4,600,100 shares as of 06/30/2010.

Nabi Biopharmaceuticals is a vertically integrated company committed to unlocking the power of the human immune system to help people with serious, unmet medical needs. Nabi Biopharmaceuticals has a market cap of $215.3 million; its shares were traded at around $4.81 with and P/S ratio of 20.5.

Reduced: Aspen Technology Inc. (AZPN)

Daniel Loeb reduced to his holdings in Aspen Technology Inc. by 30.47%. His sale prices were between $10.32 and $11.95, with an estimated average price of $11.24. The impact to his portfolio due to this sale was -1.28%. Daniel Loeb still held 3,491,200 shares as of 06/30/2010.

Aspen Technology Inc. is a recognized expert and provider of award-winning process optimization software and services. Aspen Technology Inc. has a market cap of $872.8 million; its shares were traded at around $9.47 with and P/S ratio of 2.8.

Reduced: Xerox Corp. (XRX)

Daniel Loeb reduced to his holdings in Xerox Corp. by 35.71%. His sale prices were between $8.34 and $11.35, with an estimated average price of $9.8. The impact to his portfolio due to this sale was -1.42%. Daniel Loeb still held 4,500,000 shares as of 06/30/2010.

Xerox Corporation is The Document Company and a leader in the global document market, providing document solutions that enhance business productivity. Xerox Corp. has a market cap of $11.67 billion; its shares were traded at around $8.46 with a P/E ratio of 10.5 and P/S ratio of 0.8. The dividend yield of Xerox Corp. stocks is 2%. Xerox Corp. had an annual average earning growth of 0.5% over the past 10 years.

Sold Out: Wellpoint Inc. (WLP)

Daniel Loeb sold out his holdings in Wellpoint Inc.. His sale prices were between $49.57 and $65.34, with an estimated average price of $55.02.

WellPoint, Inc. is the largest publicly traded commercial health benefits company in terms of membership in the United States. Wellpoint Inc. has a market cap of $21.22 billion; its shares were traded at around $49.68 with a P/E ratio of 7.6 and P/S ratio of 0.3. Wellpoint Inc. had an annual average earning growth of 21.6% over the past 10 years.

Sold Out: Strategic Hotels & Resorts Inc. (BEE)

Daniel Loeb sold out his holdings in Strategic Hotels & Resorts Inc.. His sale prices were between $4 and $6.85, with an estimated average price of $5.02.

STRATEGIC HOTELS & RESORTS, INC. is a real estate investment trust which owns and provides value-enhancing asset management of high-end hotels and resorts in the United States, Mexico and Europe. Strategic Hotels & Resorts Inc. has a market cap of $486.4 million; its shares were traded at around $3.44 with a P/E ratio of 11.5 and P/S ratio of 0.7.

Sold Out: The Phoenix Companies Inc. (PNX)

Daniel Loeb sold out his holdings in The Phoenix Companies Inc.. His sale prices were between $2.17 and $3.61, with an estimated average price of $2.8.

Phoenix Companies, Inc. is provider of wealth management products and services offered through a variety of select advisors and financial services firms to serve the accumulation, preservation and transfer needs of the affluent and high net worth market, businesses and institutions. The Phoenix Companies Inc. has a market cap of $192.5 million; its shares were traded at around $1.66 with a P/E ratio of 4.2 and P/S ratio of 0.1.

Sold Out: Dana Holding Corp (DAN)

Daniel Loeb sold out his holdings in Dana Holding Corp. His sale prices were between $9.9 and $13.76, with an estimated average price of $11.9.

DANA HOLDING CORP is a world leader in the supply of axles; driveshafts; and structural, sealing, and thermal-management products; as well as genuine service parts. Dana Holding Corp has a market cap of $1.45 billion; its shares were traded at around $10.35 with and P/S ratio of 0.3.

Sold Out: Kraft Foods Inc. (KFT)

Daniel Loeb sold out his holdings in Kraft Foods Inc.. His sale prices were between $28.32 and $31.07, with an estimated average price of $29.71.

Kraft Foods, Inc. is the largest branded food and beverage company headquartered in the U. Kraft Foods Inc. has a market cap of $51.08 billion; its shares were traded at around $29.29 with a P/E ratio of 14 and P/S ratio of 1.3. The dividend yield of Kraft Foods Inc. stocks is 4%. Kraft Foods Inc. had an annual average earning growth of 1.7% over the past 5 years.

Sold Out: Vivus Inc. (VVUS)

Daniel Loeb sold out his holdings in Vivus Inc.. His sale prices were between $8.71 and $13.2, with an estimated average price of $10.68.

VIVUS is a biopharmaceutical company developing innovative, next-generation therapies to address unmet needs in obesity, diabetes and sexual health. Vivus Inc. has a market cap of $433.4 million; its shares were traded at around $5.36 with and P/S ratio of 8.6.

Sold Out: The Washington Post Company (WPO)

Daniel Loeb sold out his holdings in The Washington Post Company. His sale prices were between $412.92 and $541.38, with an estimated average price of $483.08.

The Washington Post Company's principal business activities consist of newspaper publishing (principally The Washington Post), television broadcasting (through the ownership and operation of six network-affiliated stations), the ownership and operation of cable televisionsystems, magazine publishing (principally Newsweek magazine), and (through its Kaplan subsidiary) the provision of educational and career development services. The Washington Post Company has a market cap of $3.42 billion; its shares were traded at around $369.6 with a P/E ratio of 12.3 and P/S ratio of 0.7. The dividend yield of The Washington Post Company stocks is 2.4%. The Washington Post Company had an annual average earning growth of 3% over the past 10 years.

Sold Out: Alkermes Inc. (ALKS)

Daniel Loeb sold out his holdings in Alkermes Inc.. His sale prices were between $10.7 and $13.75, with an estimated average price of $12.33.

Alkermes, Inc. is a biotechnology company that develops innovative medicines designed to yield better therapeutic outcomes and improve the lives of patients with serious disease. Alkermes Inc. has a market cap of $1.26 billion; its shares were traded at around $13.27 with and P/S ratio of 7.1.

Sold Out: Brocade Communications Systems, Inc. (BRCD)

Daniel Loeb sold out his holdings in Brocade Communications Systems, Inc.. His sale prices were between $5.18 and $6.66, with an estimated average price of $5.9.

Brocade Communications Systems, Inc. delivers industry-platforms, solutions, and services for intelligently connecting, managing, and optimizing IT resources in shared storage environments. Brocade Communications Systems, Inc. has a market cap of $2.09 billion; its shares were traded at around $4.7 with a P/E ratio of 11.7 and P/S ratio of 1.1. Brocade Communications Systems, Inc. had an annual average earning growth of 3.8% over the past 10 years. GuruFocus rated Brocade Communications Systems, Inc. the business predictability rank of 2-star.

Sold Out: Directv Group Inc. The (DTV)

Daniel Loeb sold out his holdings in Directv Group Inc. The. His sale prices were between $34.27 and $39.68, with an estimated average price of $36.78.

DIRECTV is a provider of digital multichannel television entertainment in the United States and Latin America. Directv Group Inc. The has a market cap of $33.19 billion; its shares were traded at around $37.42 with a P/E ratio of 18.3 and P/S ratio of 1.6. Directv Group Inc. The had an annual average earning growth of 33.4% over the past 10 years.

Sold Out: Lear Corp. (LEA)

Daniel Loeb sold out his holdings in Lear Corp.. His sale prices were between $64.46 and $83.9, with an estimated average price of $74.04.

Lear Corporation is a global supplier of automotive seating systems, electrical distribution systems and electronics. Lear Corp. has a market cap of $3.48 billion; its shares were traded at around $74.5 with a P/E ratio of 12.6 and P/S ratio of 0.4.

Sold Out: Phillipsvan Heusen Corp. (PVH)

Daniel Loeb sold out his holdings in Phillipsvan Heusen Corp.. His sale prices were between $45.75 and $67.08, with an estimated average price of $57.43.

PHILLIPS-VAN HEUSEN CORP. is a vertically integrated manufacturer, marketer and retailer of men's, women's and children's apparel and footwear. Phillipsvan Heusen Corp. has a market cap of $3.07 billion; its shares were traded at around $46.33 with a P/E ratio of 14.9 and P/S ratio of 1.3. The dividend yield of Phillipsvan Heusen Corp. stocks is 0.3%. Phillipsvan Heusen Corp. had an annual average earning growth of 11.3% over the past 10 years.

Sold Out: Toyota Motor Corp. (TM)

Daniel Loeb sold out his holdings in Toyota Motor Corp.. His sale prices were between $68.48 and $81.26, with an estimated average price of $75.06.

Toyota Motor Corporation produces, sells, leases, and repairs passenger cars, trucks, buses, boats, airplanes and other products in Japan and most foreign countries. Toyota Motor Corp. has a market cap of $109.38 billion; its shares were traded at around $69.76 with a P/E ratio of 42.8 and P/S ratio of 0.5. The dividend yield of Toyota Motor Corp. stocks is 1.3%.

Sold Out: Popular Inc. (BPOP)

Daniel Loeb sold out his holdings in Popular Inc.. His sale prices were between $2.64 and $4.02, with an estimated average price of $3.25.

Popular, Inc. is a diversified, publicly owned bank holding company. Popular Inc. has a market cap of $1.62 billion; its shares were traded at around $2.535 with and P/S ratio of 0.6.

Sold Out: Pall Corp. (PLL)

Daniel Loeb sold out his holdings in Pall Corp.. His sale prices were between $32.23 and $40.83, with an estimated average price of $37.08.

Pall Corporation is a supplier of fine filters, principally made by the Company using its proprietary filter media, and other fluid clarification and separations equipment for the removal of solid, liquid and gaseous contaminants from a wide variety of liquids and gases. Pall Corp. has a market cap of $4 billion; its shares were traded at around $34.31 with a P/E ratio of 17.4 and P/S ratio of 1.8. The dividend yield of Pall Corp. stocks is 1.8%. Pall Corp. had an annual average earning growth of 9.1% over the past 10 years. GuruFocus rated Pall Corp. the business predictability rank of 4.5-star.

Sold Out: Walgreen Company (WAG)

Daniel Loeb sold out his holdings in Walgreen Company. His sale prices were between $26.49 and $37.83, with an estimated average price of $33.38.

Walgreen Co. is a national retail pharmacy chain and considered the leader in innovative drugstore retailing. Walgreen Company has a market cap of $27.2 billion; its shares were traded at around $27.95 with a P/E ratio of 13.4 and P/S ratio of 0.4. The dividend yield of Walgreen Company stocks is 2.5%. Walgreen Company had an annual average earning growth of 13% over the past 10 years. GuruFocus rated Walgreen Company the business predictability rank of 5-star.


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