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American billionaire Daniel Loeb’s share portfolio revealed

Daniel Loeb

Daniel Loeb is an American billionaire and the founder and CEO of Third Point, a New York-based asset management firm.

With a net worth of $3.5 billion, he is ranked 317th on the Forbes 400 list of American billionaires.

Loeb graduated with an economics degree from Columbia University. He was classmates with Barack Obama and later offered significant financial support for Obama’s presidential campaign.

Before starting his investment firm, he served as Citigroup vice president in charge of high-yield bond sales.

After raising $3.3 million from friends and family in 1995, he founded Third Point Management.

Today Third Point has approximately $16 billion in assets under management (AUM).

Loeb is an activist investor, and his preferred strategy is to buy into troubled companies, replace inefficient management, and return the companies to profitability.

Third Point employs an event-driven, value-oriented investment style and seeks to identify situations where a catalyst is anticipated to unlock value.

Third Point started new positions in Bath & Body Works, TJX Companies, Range Resources, Ferguson, Take-Two, and Comstock Resources in the last quarter.

It also purchased Twitter shares prior to Elon Musk’s takeover to take advantage of the arbitrage opportunity.

The fund increased its stake in Colgate-Palmolive nearly 5-fold. It now constitutes its biggest holding.

It further added significantly to its positions in Danaher, United Health Group, Walt Disney, and T-Mobile US.

Disney recently added media veteran Carolyn Everson to its board of directors as part of an agreement with Daniel Loeb’s Third Point.

As part of the deal, the hedge fund agreed not to buy more than 2% of Disney’s outstanding shares or to nominate any further new directors.

The deal was done just a few weeks after Loeb abandoned his push for a spin-off of ESPN and will be binding until the company’s annual shareholder meeting in 2024.

Third Point significantly cut back on its positions in Ovintiv, EQT Corp, DuPont de Nemours, Hertz, and CSX Corp. It also sold nearly all of the shares it held in Antero Resources.

Third Point Management share portfolio

The table below shows Third Point’s top 38 share positions that make up more than 99% of its portfolio as of 30 September 2022.

NameValue ($ million)Portfolio Weight
Colgate-Palmolive$81114.7%
PG&E Corp$79314.4%
Danaher Corp$69712.7%
SentinelOne$4868.8%
United Health Group$3386.1%
Bath & Body Works$2654.8%
Twitter (Sold)$2414.4%
Ovintiv$1843.3%
Ventyx Biosciences$1512.7%
Walt Disney$1322.4%
EQT Corp$1322.4%
DuPont de Nemours$1202.2%
TJX Companies$1092.0%
Range Resources$991.8%
Ferguson$951.7%
Cano Health$941.7%
T-Mobile US$941.7%
Hertz Global Holdings$871.6%
CSX Corp$731.3%
Take-Two Interactive Software$551.0%
PG&E Units$541.0%
Comstock Resources$520.9%
Perimeter Solutions$460.8%
Global Blue Group$400.7%
Jaws Mustang Acquisition Corp$400.7%
Avanti Acquisition Corp$300.6%
Compute Health Acquisition Corp$250.5%
Blue Whale Acquisition$190.4%
Khosla Ventures$200.4%
ION Acquisition Corp$180.3%
Rice Acquisition Corp$150.3%
Altimeter Growth$130.2%
Lerer Hippeau Acquisition Corp$120.2%
Dragoneer Growth Opportunities Corp$120.2%
EG Acquisition Corp$110.2%
Disruptive Acquisition Corp$100.2%
Jaws Hurricane Acquisition$100.2%
Logistics Innovation Technologies$100.2%

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