Observations as Third Point Discloses Holdings for Most Recent Quarter


Who are the winners and losers in Daniel Loeb’s Third Point world since the last filing?

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Daniel Loeb's Third Point discloses holdings for most recent quarter.

The New Additions.

Activision Blizzard, fresh from its Vivendi buyback, found itself in Third Point’s portfolio to the tune of about $43.4 million.  Other new and notables include Cytec ($5 million), Google ($96.4 million), Intrexon ($49.1 million), Liberty Interactive ($29.3 million), Nokia ($13.0 million) and Twenty-First Century Fox ($92.2 million).

The Cast-offs.

Third Point sold off its stake in Tiffany & Co., a $120.2 million holding last quarter.  The other significant holding that didn’t make it to the new quarter was News Corp., which was about $130.3 million last of the Third Point portfolio last quarter.

The Movers and Shakers.

Third Point’s position in Anadarko jumped from 950,000 shares to 1,500,000 shares.

Its stake in Coca Cola jumped from 1,000,000 shares to 3,200,000 shares with its portfolio value increasing from $35.3 million to $128.7 million.  Following this theme of consumer products was the increase in Constellation Brands, which increased from 1.5 million shares ($78.2 million, not including $421,000 of options) to 2.75 million shares ($157.9 million).

There was also a big increase in Sotheby’s, from 2.5 million shares ($94.8 million) to 6.15 million shares ($302.2 million).  We discussed their Sotheby’s stake here.

In connection with its high profile spat with Yahoo!, Third Point decreased its holdings from 62 million shares ($1.6 billion) to 16 million shares ($530.7 million).

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