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Daniel Loeb's New Stocks

August 25, 2014 | About:
Holly LaFon

Holly LaFon

257 followers
Dan Loeb is CEO of Third Point LLC, founded in 1995, where he oversees all investment activity. Third Point describes its underlying strategy as “event-driven, value-oriented,” and says it “seeks to identify situations where we anticipate a catalyst will unlock value,” on its website.

Loeb purchased 11 new stocks during the second quarter. He holds a total of 41 positions worth $8.13 billion combined. The most represented sector in his portfolio is basic materials, which comprises 21.9% of holdings, followed by ETF, options and preferred stocks at 18.8%, and technology at 14%.

Loeb’s largest new positions started in the second quarter are: Ally Financial Inc. (ALLY), Rackspace Hosting Inc. (RAX), IAC/InterActiveCorp (IACI), FMC Corp (FMC) and Finisar Corp (FNSR).

Ally Financial Inc. (ALLY)

Loeb purchased 45,595,000 shares of Ally Financial, making the position 13.4% of his portfolio. The stock’s price averaged $24 in the second quarter.

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Ally Financial Inc. is an independent financial services firm, which provides financial products and services to automotive dealers and their customers. Ally Financial Inc. has a market cap of $11.92 billion; its shares were traded at around $24.85 with and P/S ratio of 1.70.

Rackspace Hosting Inc. (RAX)

Loeb bought 7.25 million shares of Rackspace Hosting Inc., making it 3% of the portfolio. The stock’s average price was $33.

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Rackspace Hosting Inc. was incorporated in Delaware on March 7, 2000 under the name Rackspace. Rackspace Hosting Inc. has a market cap of $4.83 billion; its shares were traded at around $33.74 with a P/E ratio of 56.90 and P/S ratio of 2.90. Rackspace Hosting Inc. had an annual average earnings growth of 23.40% over the past five years.

IAC/InterActiveCorp (IACI)

Loeb purchased 2 million shares of IAC/InterActiveCorp, making it 1.7% of the portfolio. The stock’s price averaged $67 per share in the second quarter.

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IAC/InterActiveCorp was incorporated in July 1986 in Delaware under the name Silver King Broadcasting Company Inc. IAC/InteractiveCorp has a market cap of $5.67 billion; its shares were traded at around $67.97 with a P/E ratio of 21.70 and P/S ratio of 1.90. The dividend yield of IAC/InteractiveCorp stocks is 1.50%.

FMC Corp (FMC)

Loeb purchased 1.55 million shares of FMC Corp, making it 1.4% of his portfolio. The stock’s price averaged $75 in the second quarter.

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FMC Corporation was incorporated in 1928 under Delaware law. FMC Corporation has a market cap of $8.73 billion; its shares were traded at around $65.53 with a P/E ratio of 39.10 and P/S ratio of 2.30. The dividend yield of FMC Corporation stocks is 0.90%. FMC Corporation had an annual average earnings growth of 12.00% over the past 10 years. GuruFocus rated FMC Corporation the business predictability rank of 5-star.

Finisar Corp (FNSR)

Loeb purchased 3.5 million shares of Finisar Corp, making it 0.85% of the portfolio. The stock’s price averaged $24.

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Finisar Corp was incorporated in California in April 1987 and reincorporated in Delaware in November 1999. Finisar Corp has a market cap of $1.98 billion; its shares were traded at around $20.33 with a P/E ratio of 18.80 and P/S ratio of 1.80. Finisar Corp had an annual average earnings growth of 28.10% over the past five years.

See more of Daniel Loeb (Trades, Portfolio)’s stocks in his portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days here.


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