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Hedge Fund Third Point Buys LYB, MEE, WMB, NXPI, LPS, ABH, SSCC

February 13, 2011
gurufocus

gurufocus

337 followers
This is the portfolio update of hedge fund Third Point. The fund is managed by Dan Loeb. Third Point Offshare Fund gained 33.7% in 2010. Since incepted in 1996, the fund averaged 18.9% a year. In the same period the S&P500 gained 5.7% a year. As of 02/07/2011, Third Point, LLC owns 54 stocks with a total value of $1.9 billion. These are the details of the buys and sells.

Dan Loeb bought a lot more stocks in the fourth. This was what he said during his recent shareholder letter:

We entered 2011 positioned for a continued global recovery, sharp price increases in commodities, and the view that undervalued companies would either appreciate or be acquired. During the first month of the year, two of our holdings each announced agreements to be acquired at premiums. We remain constructive on equities in general and on the US and European economies. Our greatest concern is the growing consensus around the bullish view we have held since April 2009. Therefore, we welcome sharp corrections like the two we had last month, the first a decline based on worries about Chinese inflation and the second, a selloff due to the Egyptian political crisis, each of which we used to increase certain positions.

This is the portfolio chart of Daniel Loeb. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



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:

These are the top 5 holdings of Daniel Loeb

Added: Smurfitstone Container Corp (SSCC)

Daniel Loeb added to his holdings in Smurfitstone Container Corp by 50%. The impact to his portfolio due to this purchase was 1.57%. His holdings were 2,250,000 shares as of 02/07/2011.

Smurfit-Stone Container Corporation is an integrated producer of containerboard corrugated containers and other packaging products. Smurfitstone Container Corp has a market cap of $3.61 billion; its shares were traded at around $39.44 with a P/E ratio of 33.71 and P/S ratio of 0.65.

Added: Potash Corp. Of Saskatchewan Inc. (POT)

Daniel Loeb added to his holdings in Potash Corp. Of Saskatchewan Inc. by 20%. His purchase prices were between $134.63 and $152.52, with an estimated average price of $142.72. The impact to his portfolio due to this purchase was 1.65%. His holdings were 1,200,000 shares as of 02/07/2011.

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 $56.05 billion; its shares were traded at around $188.3 with a P/E ratio of 30.82 and P/S ratio of 8.57. The dividend yield of Potash Corp. Of Saskatchewan Inc. stocks is 0.21%. 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.

Added: Alcon (ACL)

Daniel Loeb added to his holdings in Alcon by 14.29%. His purchase prices were between $157.25 and $170.18, with an estimated average price of $164.25. The impact to his portfolio due to this purchase was 0.87%. His holdings were 800,000 shares as of 02/07/2011.

Alcon, Inc. is the world's eye care company. Alcon has a market cap of $49.53 billion; its shares were traded at around $164.05 with a P/E ratio of 21.28 and P/S ratio of 6.9. The dividend yield of Alcon stocks is 2.07%. Alcon had an annual average earning growth of 16.8% over the past 10 years.

Added: Spdr Gold Trust Spdr Gold (GLD)

Daniel Loeb added to his holdings in Spdr Gold Trust Spdr Gold by 50.43%. His purchase prices were between $128.46 and $139.11, with an estimated average price of $133.72. The impact to his portfolio due to this purchase was 0.43%. His holdings were 173,000 shares as of 02/07/2011.

Street Tracks Gold Shares offer investors a new, innovative, relatively cost efficient and secure way to access the gold market. Spdr Gold Trust Spdr Gold has a market cap of $55.99 billion; its shares were traded at around $132.322 .

Added: Apple Inc. (AAPL)

Daniel Loeb added to his holdings in Apple Inc. by 6.67%. His purchase prices were between $278.64 and $325.47, with an estimated average price of $311.7. The impact to his portfolio due to this purchase was 0.17%. His holdings were 160,000 shares as of 02/07/2011.

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 $327.34 billion; its shares were traded at around $356.85 with a P/E ratio of 19.92 and P/S ratio of 5.02. Apple Inc. had an annual average earning growth of 59.8% over the past 5 years.

Added: Xerium Technologies Inc. (XRM)

Daniel Loeb added to his holdings in Xerium Technologies Inc. by 10.96%. His purchase prices were between $12.63 and $16.12, with an estimated average price of $13.78. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,436,405 shares as of 02/07/2011.

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 $300.15 million; its shares were traded at around $20.05 with and P/S ratio of 0.6.

New Purchase: Lyondellbasell Ind Nv Ord Shs Cl A (LYB)

Daniel Loeb initiated holdings in Lyondellbasell Ind Nv Ord Shs Cl A. His purchase prices were between $26 and $33.76, with an estimated average price of $29.39. The impact to his portfolio due to this purchase was 8.17%. His holdings were 4,462,734 shares as of 02/07/2011.

LyondellBasell Industries AF S.C.A is a manufactures chemicals and derivatives. Lyondellbasell Ind Nv Ord Shs Cl A has a market cap of $20.97 billion; its shares were traded at around $37.07 .

New Purchase: Massey Energy Company (MEE)

Daniel Loeb initiated holdings in Massey Energy Company. His purchase prices were between $31.09 and $53.67, with an estimated average price of $45.23. The impact to his portfolio due to this purchase was 5.71%. His holdings were 2,000,000 shares as of 02/07/2011.

Massey Energy Company produces, processes and sells bituminous, low sulfur coal of steam and metallurgical grades through its processing and shipping centers. Massey Energy Company has a market cap of $6.44 billion; its shares were traded at around $63.09 with and P/S ratio of 2.12. The dividend yield of Massey Energy Company stocks is 0.38%. Massey Energy Company had an annual average earning growth of 10.3% over the past 10 years.

New Purchase: Williams Companies (WMB)

Daniel Loeb initiated holdings in Williams Companies. His purchase prices were between $19.02 and $24.75, with an estimated average price of $22.47. The impact to his portfolio due to this purchase was 5.26%. His holdings were 4,000,000 shares as of 02/07/2011.

Williams Companies moves, manages and markets a variety of energy products, including natural gas, liquid hydrocarbons, petroleum and electricity. Williams Companies has a market cap of $15.78 billion; its shares were traded at around $26.99 with a P/E ratio of 24.1 and P/S ratio of 1.91. The dividend yield of Williams Companies stocks is 1.85%. Williams Companies had an annual average earning growth of 8.5% over the past 5 years.

New Purchase: Nxp Semiconductors N.v. (NXPI)

Daniel Loeb initiated holdings in Nxp Semiconductors N.v.. His purchase prices were between $11.85 and $20.71, with an estimated average price of $14.66. The impact to his portfolio due to this purchase was 3.51%. His holdings were 3,150,600 shares as of 02/07/2011.

NXP Semiconductors N.V. is a global semiconductor company. Nxp Semiconductors N.v. has a market cap of $6.3 billion; its shares were traded at around $25.27 with and P/S ratio of 1.64.

New Purchase: Lender Processing Services Inc (LPS)

Daniel Loeb initiated holdings in Lender Processing Services Inc. His purchase prices were between $26.39 and $31.72, with an estimated average price of $29.35. The impact to his portfolio due to this purchase was 2.83%. His holdings were 1,800,000 shares as of 02/07/2011.

LENDER PROCESSING SERVICES, INC. is a provider of integrated technology and services to the mortgage industry. Lender Processing Services Inc has a market cap of $2.98 billion; its shares were traded at around $32.63 with a P/E ratio of 9.32 and P/S ratio of 1.21. The dividend yield of Lender Processing Services Inc stocks is 1.23%.

New Purchase: Abitibibowater (ABH)

Daniel Loeb initiated holdings in Abitibibowater. His purchase prices were between $22.95 and $23.85, with an estimated average price of $23.55. The impact to his portfolio due to this purchase was 2.43%. His holdings were 1,926,905 shares as of 02/07/2011.

AbitibiBowater Inc is engaged in the production of newsprint and coated and specialty papers. Abitibibowater has a market cap of $1.61 billion; its shares were traded at around $29.49 .

New Purchase: Smurfitstone Container Corp (SSCC)

Daniel Loeb initiated holdings in Smurfitstone Container Corp. His purchase prices were between $18.25 and $26.08, with an estimated average price of $23.5. The impact to his portfolio due to this purchase was 2.04%. His holdings were 1,500,000 shares as of 02/07/2011.

Smurfit-Stone Container Corporation is an integrated producer of containerboard corrugated containers and other packaging products. Smurfitstone Container Corp has a market cap of $3.61 billion; its shares were traded at around $39.44 with a P/E ratio of 33.71 and P/S ratio of 0.65.

New Purchase: Sunoco Inc. (SUN)

Daniel Loeb initiated holdings in Sunoco Inc.. His purchase prices were between $36.24 and $41.2, with an estimated average price of $39.19. The impact to his portfolio due to this purchase was 1.93%. His holdings were 900,000 shares as of 02/07/2011.

Sunoco, Inc. is principally a petroleum refiner and marketer with interests in cokemaking. Sunoco Inc. has a market cap of $5.17 billion; its shares were traded at around $42.87 with a P/E ratio of 24.08 and P/S ratio of 0.14. The dividend yield of Sunoco Inc. stocks is 1.4%. Sunoco Inc. had an annual average earning growth of 11.3% over the past 10 years.

New Purchase: Citigroup Inc. (C)

Daniel Loeb initiated holdings in Citigroup Inc.. His purchase prices were between $3.95 and $4.81, with an estimated average price of $4.35. The impact to his portfolio due to this purchase was 1.76%. His holdings were 7,000,000 shares as of 02/07/2011.

Citigroup Inc., the global financial services company, has some two hundred million customer accounts and does business in more than hundred countries, providing consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citigroup Inc. has a market cap of $141.76 billion; its shares were traded at around $4.88 with a P/E ratio of 13.94 and P/S ratio of 1.64.

New Purchase: Comcast Corp. (CMCSA)

Daniel Loeb initiated holdings in Comcast Corp.. His purchase prices were between $17.66 and $22.25, with an estimated average price of $20.33. The impact to his portfolio due to this purchase was 1.34%. His holdings were 1,150,000 shares as of 02/07/2011.

Comcast Corp., among the world's communication companies, provides basic cable, digital cable and high speed internet services that connect people to what's important in their lives. Comcast Corp. has a market cap of $66.96 billion; its shares were traded at around $23.9975 with a P/E ratio of 19.2 and P/S ratio of 1.87. The dividend yield of Comcast Corp. stocks is 1.58%. Comcast Corp. had an annual average earning growth of 14.9% over the past 10 years.

New Purchase: Oritani Financial Corp. (ORIT)

Daniel Loeb initiated holdings in Oritani Financial Corp.. His purchase prices were between $9.91 and $12.55, with an estimated average price of $11.09. The impact to his portfolio due to this purchase was 1.33%. His holdings were 2,043,100 shares as of 02/07/2011.

Oritani Financial Corp. is the holding company for Oritani Savings Bank, a savings bank offering a full range of retail and commercial loan and deposit products. Oritani Financial Corp. has a market cap of $716.58 million; its shares were traded at around $12.75 with a P/E ratio of 26.94 and P/S ratio of 4.26. The dividend yield of Oritani Financial Corp. stocks is 3.14%.

New Purchase: Cvr Energy Inc. (CVI)

Daniel Loeb initiated holdings in Cvr Energy Inc.. His purchase prices were between $8 and $15.25, with an estimated average price of $11.41. The impact to his portfolio due to this purchase was 1.29%. His holdings were 1,600,000 shares as of 02/07/2011.

Headquartered in Sugar Land, Texas, CVR ENERGY, INC. Cvr Energy Inc. has a market cap of $1.69 billion; its shares were traded at around $19.35 with a P/E ratio of 37.94 and P/S ratio of 0.54.

New Purchase: Rio Tinto Plc (RIO)

Daniel Loeb initiated holdings in Rio Tinto Plc. His purchase prices were between $61.44 and $71.33, with an estimated average price of $67.78. The impact to his portfolio due to this purchase was 1.14%. His holdings were 300,000 shares as of 02/07/2011.

Rio Tinto PLC is an international mining company. The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium, dioxide feedstock, diamonds, talc and zircon. Rio Tinto Plc has a market cap of $113.25 billion; its shares were traded at around $74.27 with and P/S ratio of 2.71. The dividend yield of Rio Tinto Plc stocks is 1.19%.

New Purchase: Viewpoint Financial Group Inc. (VPFG)

Daniel Loeb initiated holdings in Viewpoint Financial Group Inc.. His purchase prices were between $9.16 and $11.71, with an estimated average price of $10.31. The impact to his portfolio due to this purchase was 1%. His holdings were 1,601,800 shares as of 02/07/2011.

VIEWPOINT FINANCIAL GROUP is the holding company for Plano-based ViewPoint Bank. Viewpoint Financial Group Inc. has a market cap of $461.97 million; its shares were traded at around $13.26 with a P/E ratio of 103.13 and P/S ratio of 3.41. The dividend yield of Viewpoint Financial Group Inc. stocks is 1.51%.

New Purchase: Market Vector Junior Gold Miners Etf (GDXJ)

Daniel Loeb initiated holdings in Market Vector Junior Gold Miners Etf. His purchase prices were between $33.34 and $43.94, with an estimated average price of $38.43. The impact to his portfolio due to this purchase was 0.96%. His holdings were 450,000 shares as of 02/07/2011.

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New Purchase: Yahoo! Inc. (YHOO)

Daniel Loeb initiated holdings in Yahoo! Inc.. His purchase prices were between $14.23 and $17.02, with an estimated average price of $16.17. The impact to his portfolio due to this purchase was 0.93%. His holdings were 1,056,500 shares as of 02/07/2011.

Yahoo! Inc. is a global Internet communications, commerce and media company that offers a comprehensive branded network of services. Yahoo! Inc. has a market cap of $21.96 billion; its shares were traded at around $16.85 with a P/E ratio of 22.77 and P/S ratio of 3.47.

New Purchase: Pall Corp. (PLL)

Daniel Loeb initiated holdings in Pall Corp.. His purchase prices were between $41.36 and $50.38, with an estimated average price of $45.58. The impact to his portfolio due to this purchase was 0.92%. His holdings were 350,000 shares as of 02/07/2011.

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 $6.37 billion; its shares were traded at around $55.13 with a P/E ratio of 23.66 and P/S ratio of 2.65. The dividend yield of Pall Corp. stocks is 1.27%. Pall Corp. had an annual average earning growth of 11.3% over the past 10 years. GuruFocus rated Pall Corp. the business predictability rank of 3.5-star.

New Purchase: Atlas Energy Inc. (ATLS)

Daniel Loeb initiated holdings in Atlas Energy Inc.. His purchase prices were between $28.76 and $44, with an estimated average price of $37.82. The impact to his portfolio due to this purchase was 0.57%. His holdings were 245,000 shares as of 02/07/2011.

Atlas Energy, Inc. is one of the largest independent natural gas producers in the Appalachian and Michigan Basins and a producer in the Marcellus Shale in southwestern Pennsylvania. Atlas Energy Inc. has a market cap of $3.54 billion; its shares were traded at around $45.08 with a P/E ratio of 79.09 and P/S ratio of 2.23. Atlas Energy Inc. had an annual average earning growth of 74.9% over the past 5 years.

New Purchase: Pmi Group Inc. (PMI)

Daniel Loeb initiated holdings in Pmi Group Inc.. His purchase prices were between $3.02 and $4.53, with an estimated average price of $3.56. The impact to his portfolio due to this purchase was 0.53%. His holdings were 3,000,000 shares as of 02/07/2011.

The PMI Group, Inc. is a holding company which conducts its residential mortgage insurance business through its direct and indirect wholly-owned subsidiaries PMI Mortgage Insurance Company. Pmi Group Inc. has a market cap of $538.3 million; its shares were traded at around $3.34 with and P/S ratio of 0.58.

New Purchase: Capitol Federal Financial Inc (CFFN)

Daniel Loeb initiated holdings in Capitol Federal Financial Inc. His purchase prices were between $23.09 and $26.44, with an estimated average price of $24.03. The impact to his portfolio due to this purchase was 0.48%. His holdings were 750,225 shares as of 02/07/2011.

Capitol Federal Financial is a federally chartered mid-tier holding company. Capitol Federal Financial Inc has a market cap of $2.04 billion; its shares were traded at around $12.17 with a P/E ratio of 32.65 and P/S ratio of 4.99. The dividend yield of Capitol Federal Financial Inc stocks is 2.47%.

New Purchase: Zoran Corp. (ZRAN)

Daniel Loeb initiated holdings in Zoran Corp.. His purchase prices were between $6.18 and $8.74, with an estimated average price of $7.52. The impact to his portfolio due to this purchase was 0.29%. His holdings were 620,000 shares as of 02/07/2011.

Zoran Corporation develops and markets integrated circuits, integratedcircuit cores and software for digital video and audio compression applications. Zoran Corp. has a market cap of $454.89 million; its shares were traded at around $9.29 with and P/S ratio of 1.27.

New Purchase: Marathon Oil Corp. (MRO)

Daniel Loeb initiated holdings in Marathon Oil Corp.. His purchase prices were between $33.07 and $36.92, with an estimated average price of $34.89. The impact to his portfolio due to this purchase was 0.2%. His holdings were 100,000 shares as of 02/07/2011.

Marathon Oil Corporation is an energy company engaged in the worldwide exploration, production and transportation of crude oil and natural gas. Marathon Oil Corp. has a market cap of $33 billion; its shares were traded at around $46.48 with a P/E ratio of 12.77 and P/S ratio of 0.45. The dividend yield of Marathon Oil Corp. stocks is 2.15%. Marathon Oil Corp. had an annual average earning growth of 11.3% over the past 10 years. GuruFocus rated Marathon Oil Corp. the business predictability rank of 3-star.

New Purchase: Plains Exploration & Production Company (PXP)

Daniel Loeb initiated holdings in Plains Exploration & Production Company. His purchase prices were between $25.92 and $32.18, with an estimated average price of $29.05. The impact to his portfolio due to this purchase was 0.17%. His holdings were 100,000 shares as of 02/07/2011.

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 $5.22 billion; its shares were traded at around $37.23 with a P/E ratio of 16.7 and P/S ratio of 4.39.

New Purchase: Semgroup Corp. (SEMG)

Daniel Loeb initiated holdings in Semgroup Corp.. His purchase prices were between $24.93 and $27.74, with an estimated average price of $26.86. The impact to his portfolio due to this purchase was 0.14%. His holdings were 100,000 shares as of 02/07/2011.

SemGroup Corp provides gathering, transportation, storage, distribution, blending, marketing and other midstream services to producers, refiners of petroleum products and others market participants located in Midwest and Rocky Mountain regions of the United States of America. Semgroup Corp. has a market cap of $1.18 billion; its shares were traded at around $28.93 .

New Purchase: Etfs Physical Palladium (PALL)

Daniel Loeb initiated holdings in Etfs Physical Palladium. His purchase prices were between $55.8999 and $78.98, with an estimated average price of $67.55. The impact to his portfolio due to this purchase was 0.11%. His holdings were 25,000 shares as of 02/07/2011.

Etfs Physical Palladium has a market cap of $157.6 million; its shares were traded at around $80.82 .

New Purchase: Etfs Physical Platinum (PPLT)

Daniel Loeb initiated holdings in Etfs Physical Platinum. His purchase prices were between $162.92 and $177.536, with an estimated average price of $169.14. The impact to his portfolio due to this purchase was 0.09%. His holdings were 10,000 shares as of 02/07/2011.

Etfs Physical Platinum has a market cap of $17.95 million; its shares were traded at around $179.46 .

Reduced: Airgas Inc. (ARG)

Daniel Loeb reduced to his holdings in Airgas Inc. by 73.33%. His sale prices were between $61.1 and $71, with an estimated average price of $66.44. The impact to his portfolio due to this sale was -3.66%. Daniel Loeb still held 400,000 shares as of 02/07/2011.

Airgas, Inc., through its subsidiaries, is the largest U. Airgas Inc. has a market cap of $5.37 billion; its shares were traded at around $63.82 with a P/E ratio of 20.26 and P/S ratio of 1.39. The dividend yield of Airgas Inc. stocks is 1.57%. 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.

Reduced: Depomed Inc. (DEPO)

Daniel Loeb reduced to his holdings in Depomed Inc. by 21.94%. His sale prices were between $4.33 and $6.56, with an estimated average price of $5.29. The impact to his portfolio due to this sale was -0.5%. Daniel Loeb still held 5,300,000 shares as of 02/07/2011.

Depomed, Inc. is a specialty pharmaceutical company utilizing its innovative AcuForm drug delivery technology to develop novel oral products and improved, extended release formulations of existing oral drugs. Depomed Inc. has a market cap of $504.24 million; its shares were traded at around $9.56 with and P/S ratio of 8.73.

Sold Out: Northern Trust Corp. (NTRS)

Daniel Loeb sold out his holdings in Northern Trust Corp.. His sale prices were between $47.41 and $55.73, with an estimated average price of $51.36.

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 $12.8 billion; its shares were traded at around $52.86 with a P/E ratio of 19.95 and P/S ratio of 3.47. The dividend yield of Northern Trust Corp. stocks is 2.12%. Northern Trust Corp. had an annual average earning growth of 0.9% over the past 10 years

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gurufocus
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