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Hedge Fund Third Point Capital Buys POT, AAPL, CFN, GLD, Sells TDG, CCE, M, XRX

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gurufocus

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This is the portfolio update of hedge fund Third Point Capital. The firm is run by activist investor Dan Loeb. Third Point Offshore Fund has gained 25.2% until Oct. 31, this year.

Since founded in 1995, Third Point Partners’ Fund averaged 37%. It had two down years in the period, down 7% in 2002 and 32.8% in 2008. But in 2009 and 2010, it has recovered all the losses, and gained some more.

As of 09/30/2010, Third Point, LLC owns 29 stocks with a total value of $954 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:

Basic Materials 26.9%
Health Care 25.9%
Financials 14.4%
Industrials 9.5%
Technology 8.3%
Consumer Services 6.3%
Oil & Gas 1.3%


These are the top 5 holdings of Daniel Loeb

  1. Potash Corp. Of Saskatchewan Inc. (POT) - 1,000,000 shares, 15.09% of the total portfolio. Shares added by 10000%
  2. Alcon Inc. (ACL) - 700,000 shares, 12.23% of the total portfolio. Shares added by 16.67%
  3. Airgas Inc. (ARG) - 1,500,000 shares, 10.68% of the total portfolio. Shares added by 38.89%
  4. Health Net Inc. (HNT) - 2,800,000 shares, 7.98% of the total portfolio. Shares reduced by 6.67%
  5. PHH Corp. (PHH) - 3,500,000 shares, 7.72% of the total portfolio. Shares reduced by 16.07%


Added: Airgas Inc. (ARG)

Daniel Loeb added to his holdings in Airgas Inc. by 38.89%. His purchase prices were between $62.57 and $68.04, with an estimated average price of $65.82. The impact to his portfolio due to this purchase was 2.99%. His holdings were 1,500,000 shares as of 09/30/2010.

Airgas, Inc., through its subsidiaries, is the largest U. Airgas Inc. has a market cap of $5.62 billion; its shares were traded at around $67.2 with a P/E ratio of 22.4 and P/S ratio of 1.5. The dividend yield of Airgas Inc. stocks is 1.5%. 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: Alcon Inc. (ACL)

Daniel Loeb added to his holdings in Alcon Inc. by 16.67%. His purchase prices were between $148.54 and $168.21, with an estimated average price of $159.5. The impact to his portfolio due to this purchase was 1.75%. His holdings were 700,000 shares as of 09/30/2010.

Alcon, Inc. is the world's eye care company. Alcon Inc. has a market cap of $48.89 billion; its shares were traded at around $162.76 with a P/E ratio of 21.5 and P/S ratio of 7.5. 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: Emmis Communications Corp. 6.25% Series (EMMSP)

Daniel Loeb added to his holdings in Emmis Communications Corp. 6.25% Series by 48.64%. His purchase prices were between $16.13 and $25.05, with an estimated average price of $21.24. The impact to his portfolio due to this purchase was 0.18%. His holdings were 321,057 shares as of 09/30/2010.

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New Purchase: Potash Corp. Of Saskatchewan Inc. (POT)

Daniel Loeb initiated holdings in Potash Corp. Of Saskatchewan Inc.. His purchase prices were between $84.6 and $150.47, with an estimated average price of $124.33. The impact to his portfolio due to this purchase was 15.09%. His holdings were 1,000,000 shares as of 09/30/2010.

Potash Corporation of Saskatchewan Inc. is the world's largest potash company, the third largest phoshate producer and the second largest nitrogen producer in the world. Potash Corp. Of Saskatchewan Inc. has a market cap of $40.71 billion; its shares were traded at around $137.27 with a P/E ratio of 26.7 and P/S ratio of 10.2. The dividend yield of Potash Corp. Of Saskatchewan Inc. stocks is 0.3%. Potash Corp. Of Saskatchewan Inc. had an annual average earning growth of 31.7% over the past 10 years. GuruFocus rated Potash Corp. Of Saskatchewan Inc. the business predictability rank of 2.5-star.

New Purchase: Apple Inc. (AAPL)

Daniel Loeb initiated holdings in Apple Inc.. His purchase prices were between $239.93 and $292.32, with an estimated average price of $259.7. The impact to his portfolio due to this purchase was 4.46%. His holdings were 150,000 shares as of 09/30/2010.

Apple Computer, Inc. designs, manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Apple Inc. has a market cap of $280.5 billion; its shares were traded at around $307.035 with a P/E ratio of 20.3 and P/S ratio of 4.3. Apple Inc. had an annual average earning growth of 59.8% over the past 5 years.

New Purchase: Carefusion Corp. (CFN)

Daniel Loeb initiated holdings in Carefusion Corp.. His purchase prices were between $20.68 and $25.16, with an estimated average price of $22.62. The impact to his portfolio due to this purchase was 1.82%. His holdings were 700,000 shares as of 09/30/2010.

CareFusion is a global corporation serving the health care industry with products and services that help hospitals measurably improve the safety and quality of care. Carefusion Corp. has a market cap of $5.22 billion; its shares were traded at around $23.49 with a P/E ratio of 17.7 and P/S ratio of 1.3.

New Purchase: Spider Gold Shares (GLD)

Daniel Loeb initiated holdings in Spider Gold Shares. His purchase prices were between $113.51 and $127.95, with an estimated average price of $119.96. The impact to his portfolio due to this purchase was 1.54%. His holdings were 115,000 shares as of 09/30/2010.

Street Tracks Gold Shares offer investors a new, innovative, relatively cost efficient and secure way to access the gold market. Spider Gold Shares has a market cap of $56.69 billion; its shares were traded at around $132.42 .

New Purchase: Northern Trust Corp. (NTRS)

Daniel Loeb initiated holdings in Northern Trust Corp.. His purchase prices were between $45.81 and $50.5, with an estimated average price of $48.21. The impact to his portfolio due to this purchase was 1.52%. His holdings were 300,000 shares as of 09/30/2010.

Northern Trust Corp. is a multi-bank holding company with worldwide locations and is a provider of treasury management, master trust, custody, retirement, risk and performance, international and investment management services for corporations, large institutions and individuals. Northern Trust Corp. has a market cap of $12.42 billion; its shares were traded at around $51.3 with a P/E ratio of 17.8 and P/S ratio of 3.2. The dividend yield of Northern Trust Corp. stocks is 2.2%. Northern Trust Corp. had an annual average earning growth of 1% over the past 10 years.

New Purchase: Kkr & Co. L.p. (KKR)

Daniel Loeb initiated holdings in Kkr & Co. L.p.. His purchase prices were between $8.8 and $10.68, with an estimated average price of $10. The impact to his portfolio due to this purchase was 1.33%. His holdings were 1,200,000 shares as of 09/30/2010.

Kohlberg Kravis Roberts & Co. provides a range of asset management services to its investors and provides capital markets services to its firm, its portfolio companies and its clients. Kkr & Co. L.p. has a market cap of $2.67 billion; its shares were traded at around $13.04 . The dividend yield of Kkr & Co. L.p. stocks is 4.6%.

New Purchase: Six Flags Inc. (SIX)

Daniel Loeb initiated holdings in Six Flags Inc.. His purchase prices were between $31.989 and $44.5, with an estimated average price of $36.53. The impact to his portfolio due to this purchase was 0.79%. His holdings were 171,127 shares as of 09/30/2010.

Six Flags Entertainment Corporation owns and operates regional parks. Six Flags Inc. has a market cap of $1.54 billion; its shares were traded at around $52.87 with and P/S ratio of 1.7.

New Purchase: Oneida Financial Corp. (ONFC)

Daniel Loeb initiated holdings in Oneida Financial Corp.. His purchase prices were between $7.27 and $7.95, with an estimated average price of $7.76. The impact to his portfolio due to this purchase was 0.24%. His holdings were 305,600 shares as of 09/30/2010.

ONEIDA FINANCIAL CORP is a bank holding company, which through its subsidiary, Oneida Savings Bank, is engaged primarily in the business of accepting deposits from customers and using those deposits, together with funds generated from operations and borrowing proceeds to make one-to-four family residential and commercial real estate loans, commercial business loans, consumer loans and to invest in mortgage-backed and other securities. Oneida Financial Corp. has a market cap of $54.8 million; its shares were traded at around $7.65 with a P/E ratio of 14.9 and P/S ratio of 1.2. The dividend yield of Oneida Financial Corp. stocks is 6.3%. Oneida Financial Corp. had an annual average earning growth of 1.9% over the past 10 years.

New Purchase: Eagle Rock Energy Partners L.p. Warrants (EROCW)

Daniel Loeb initiated holdings in Eagle Rock Energy Partners L.p. Warrants. His purchase prices were between $0.8 and $1.225, with an estimated average price of $1.06. The impact to his portfolio due to this purchase was 0.07%. His holdings were 639,780 shares as of 09/30/2010.

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Reduced: Cit Group Inc. (CIT)

Daniel Loeb reduced to his holdings in Cit Group Inc. by 36.64%. His sale prices were between $34.4 and $40.77, with an estimated average price of $37.7. The impact to his portfolio due to this sale was -3.83%. Daniel Loeb still held 1,550,000 shares as of 09/30/2010.

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 $8.57 billion; its shares were traded at around $42.81 with and P/S ratio of 2.2.

Sold Out: Transdigm Group Inc. (TDG)

Daniel Loeb sold out his holdings in Transdigm Group Inc.. His sale prices were between $50.07 and $63.56, with an estimated average price of $56.76.

TransDigm Group, through its wholly-owned subsidiaries, including TransDigm Inc. Transdigm Group Inc. has a market cap of $3.25 billion; its shares were traded at around $65.8 with a P/E ratio of 20.7 and P/S ratio of 4.3. Transdigm Group Inc. had an annual average earning growth of 20.7% over the past 5 years.

Sold Out: Cocacola Enterprises Inc. (CCE)

Daniel Loeb sold out his holdings in Cocacola Enterprises Inc.. His sale prices were between $26.03 and $31.08, with an estimated average price of $28.92.

Coca-Cola Enterprises is the world's largest marketer, distributor, and producer of bottle and can liquid nonalcoholic refreshment. Cocacola Enterprises Inc. has a market cap of $12.53 billion; its shares were traded at around $25.09 with a P/E ratio of 13.3 and P/S ratio of 0.6. The dividend yield of Cocacola Enterprises Inc. stocks is 1.4%.

Sold Out: Macy's Inc. (M)

Daniel Loeb sold out his holdings in Macy's Inc.. His sale prices were between $17.16 and $23.17, with an estimated average price of $19.97.

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 $10.44 billion; its shares were traded at around $24.7 with a P/E ratio of 13.1 and P/S ratio of 0.4. The dividend yield of Macy's Inc. stocks is 0.8%.

Sold Out: Xerox Corp. (XRX)

Daniel Loeb sold out his holdings in Xerox Corp.. His sale prices were between $7.91 and $10.55, with an estimated average price of $9.2.

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 $15.64 billion; its shares were traded at around $11.31 with a P/E ratio of 12.7 and P/S ratio of 1. The dividend yield of Xerox Corp. stocks is 1.5%. Xerox Corp. had an annual average earning growth of 0.5% over the past 10 years.

Sold Out: Rf Micro Devices Inc. (RFMD)

Daniel Loeb sold out his holdings in Rf Micro Devices Inc.. His sale prices were between $3.71 and $6.15, with an estimated average price of $4.73.

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 $1.94 billion; its shares were traded at around $7.1 with a P/E ratio of 13.2 and P/S ratio of 2.

Sold Out: Plains Exploration & Production Company (PXP)

Daniel Loeb sold out his holdings in Plains Exploration & Production Company. His sale prices were between $20.18 and $26.9, with an estimated average price of $23.69.

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 $4.07 billion; its shares were traded at around $29.07 with a P/E ratio of 13 and P/S ratio of 3.4.

Sold Out: Viewpoint Financial Group (VPFG)

Daniel Loeb sold out his holdings in Viewpoint Financial Group. His sale prices were between $8.88 and $13.5, with an estimated average price of $9.4.

VIEWPOINT FINANCIAL GROUP is the holding company for Plano-based ViewPoint Bank. Viewpoint Financial Group has a market cap of $365.4 million; its shares were traded at around $10.48 with a P/E ratio of 81.5 and P/S ratio of 2.7. The dividend yield of Viewpoint Financial Group stocks is 1.5%.

Sold Out: Advanced Micro Devices Inc. (AMD)

Daniel Loeb sold out his holdings in Advanced Micro Devices Inc.. His sale prices were between $5.61 and $8.21, with an estimated average price of $6.8.

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 $5.1 billion; its shares were traded at around $7.565 with a P/E ratio of 24.4 and P/S ratio of 0.9.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 2.3/5 (6 votes)

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