13-F Alert: Loeb's Third Point Sells Apple

Loading...
Loading...
Daniel Loeb's super-successful hedge fund firm Third Point LLC released its 13-F filing after the market close on Thursday, detailing the fund's long equity positions. The first obvious change in the portfolio was the fund's liquidation of its Apple
AAPL
position. Yesterday, Leon Cooperman's Omega Advisors also showed that it had sold out of Apple during the recent downdraft in the stock. Third Point sold its entire $474 million stake in Apple during the fourth-quarter of 2012. The firm added shares of fertilizer producer Agrium
AGU
during the quarter and was showing a $100 million stake in the stock. The hedge fund continues to hold a very large position in American International Group
AIG
, which has become a very popular hedge fund stock in recent quarters. Third Point continued to show a large position in Delphi Automotive
DLPH
, valued at $382.5 million. Loeb's new Herbalife
HLF
stake showed up on Third Point's most recent 13-F. The position was valued at around $102.5 million. Loeb made news with his Herbalife purchase as he bought the stock after a deep plunge caused by a presentation by Pershing Square Capital Management founder Bill Ackman where he revealed that his firm was short more than $1 billion worth of HLF. Thus far, Third Point has made a tidy profit on its HLF investment which was acquired in January. The filing also showed a new position in Morgan Stanley
MS
for Third Point, valued at over $148 million. Other large stakes include Liberty Global
LBTYA
, LyondellBasell Industries
LYB
, Murphy Oil
MUR
Loading...
Loading...
, News Corp.
NWSA
, Nexen
NXY
, Symantec
SYMC
, and Tesoro
TSO
. Third Point's largest position by far is its activist stake in Yahoo!
YHOO
. That stock is up almost 19 percent in the last 3 months and Third Point's 6.17 percent stake is valued at around $1.17 billion.
Loading...
Loading...
Posted In: Hedge FundsMovers & ShakersTechGeneral
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...