Market Overview

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

Share:
13-F Alert: Loeb's Third Point Sells Apple
Related AAPL
Nexeon CEO On The Brain Chip Targeting Parkinson's, Lou Gehrig's Disease And Other 'Cyborg' Technologies
Barron's Ponders The Future Of Ford
Nasdaq Set For Fresh Highs As FANGs Lead; 2 Top Techs Near Buy Points (Investor's Business Daily)

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 (NASDAQ: 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 (NYSE: 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 (NYSE: AIG), which has become a very popular hedge fund stock in recent quarters.

Third Point continued to show a large position in Delphi Automotive (NYSE: DLPH), valued at $382.5 million. Loeb's new Herbalife (NYSE: 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 (NYSE: MS) for Third Point, valued at over $148 million. Other large stakes include Liberty Global (NASDAQ: LBTYA), LyondellBasell Industries (NYSE: LYB), Murphy Oil (NYSE: MUR), News Corp. (NASDAQ: NWSA), Nexen (NYSE: NXY), Symantec (NASDAQ: SYMC), and Tesoro (NYSE: TSO).

Third Point's largest position by far is its activist stake in Yahoo (NASDAQ: 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.

Posted-In: News Hedge Funds Movers & Shakers After-Hours Center Tech General Best of Benzinga

 

Related Articles (AAPL + AGU)

View Comments and Join the Discussion!