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.
Loeb’s fund gained 3.4% in September, compared to 2.6% for the S&P 500, and gained 10.9% from the beginning of the year through the end of September, compared to 16.4% for the S&P, according to the report.
Kraft (KFT), a stake Loeb purchased in July and one of his top holdings in August, has since split into two companies, Kraft Foods Group (KRFT) and Modelez International Inc. (NASDAQ:MDLZ).
Of Loeb’s top 10 positions, 50% are long positions and 23% are short. He does not specify whether his top 6 positions listed in his September report are long or short.
Loeb commented on Europe, Yahoo, Delphi (DFG), Progress Energy Resources (PRQ) and the economy in his second quarter letter, released in August.
See Daniel Loeb’s portfolio here. Also check out his Undervalued Stocks, Top Growth Companies and High Yield stocks.