Daniel Loeb (Trades, Portfolio) made three new additions to his portfolio in the fourth quarter: Chubb Ltd. (CB, Financial), Morgan Stanley (MS, Financial) and Axalta Coating System Ltd. (AXTA, Financial).
Loeb manages the event-driven, value-investing hedge fund Third Point, which has $17.5 billion in assets. Third Point’s main Offshore Fund was down 3.4% in January, versus a 5% loss for the S&P 500. He has achieved a historical annualized return of 15.9%, compared to 7% for the index.
At the end of the fourth quarter, Loeb held 27 positions with a value of $9.85 billion, and had more than half allocated in health care.
New Buys
Loeb purchased 1.5 million shares of Chubb Ltd., which had a $113 average share price for the quarter. The position had a 1.78% portfolio weight.
Chubb Ltd. is the Swiss-incorporated holding company of the ACE Group of Companies founded in 1985. Chubb Ltd. has a market cap of $37.06 billion; its shares were traded at around $114.31 with a P/E ratio of 13.95 and P/S ratio of 1.96. The dividend yield of Chubb Ltd. stocks is 2.35%. Chubb Ltd had an annual average earnings growth of 6.9% over the past 10 years. GuruFocus rated Chubb Ltd. the business predictability rank of 2.5-star.
Morgan Stanley (MS, Financial)
Loeb purchased 3 million shares of Morgan Stanley, which had a $33 per share average price. The holding represented 0.97% of the portfolio.
Morgan Stanley was originally incorporated under the laws of the State of Delaware in 1981. Morgan Stanley has a market cap of $44.71 billion; its shares were traded at around $23.09 with a P/E ratio of 14.23 and P/S ratio of 1.26. The dividend yield of Morgan Stanley stocks is 2.6%.
Axalta Coating System Ltd. (AXTA, Financial)
Loeb also bought 2.4 million shares of Axalta Coating Systems Ltd., which had an average price of $28. The holding represented 0.65% of the portfolio.
Axalta Coating Systems Ltd. was incorporated on August 24, 2012. Axalta Coating Systems Ltd. has a market cap of $5.56 billion; its shares were traded at around $23.38 with a P/E ratio of 21.21 and P/S ratio of 1.31.
See more of Loeb’s stocks at his portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days.
