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Why Dan Loeb Is Bullish on the US Stock Market

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Part 5
Why Dan Loeb Is Bullish on the US Stock Market PART 5 OF 5

These Stocks Were Third Point’s Largest Holdings in 2Q17

Largest holdings

Dan Loeb’s Third Point has exceeded the S&P 500 Index’s (SPY) returns for the last two decades. Dan Loeb’s offshore fund is up about 14.5% in 2017 as of September 30, 2017, while the S&P 500 Index is up about 13% during this period.

These Stocks Were Third Point&#8217;s Largest Holdings in 2Q17

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Third Point’s largest sector holdings in 2Q17 were health care (XLV), information technology (XLK), and materials (XLB). These sectors constituted nearly 27.6%, 20.0%, and 15.2% of the firm’s portfolio in 2Q17, respectively.

The largest stock holdings of Third Point in 2Q17 were Baxter International (BAX), Dow Chemical (DOW), BlackRock (BLK), Alibaba Group (BABA), and Alphabet (GOOGL). These stocks represented nearly 22.0%, 8.9%, 5.8%, 5.6%, and 4.7% of the firm’s portfolio, respectively.

According to the institutional ownership report, Third Point was the second largest investor in Baxter International with 41 million shares as of June 30, 2017. BlackRock remains the first largest investor in BAX with 46.9 million shares. Similarly, Vanguard Group was the first largest investor in Alphabet (GOOGL) with 20.5 million shares as of June 30, 2017.

Top purchases

Third Point’s top purchases in 2Q17 were BlackRock (BLK), Alibaba (BABA), NXP Semiconductors (NXPI), Vulcan Materials (VMC), and Alexion Pharmaceuticals (ALXN).

You may be interested to read, Delivering Alpha: Where Fund Managers Are Placing Their Bets.

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