The Dow Chemical Company (DOW), Ally Financial Inc (ALLY), and Actavis plc (ACT): Top Investments of Daniel Loeb’s Third Point LLC

Daniel Loeb’s Third Point LLC filed its 13F form for the second quarter 2014 on August 14, 2014. According to its 13F filing, the firm increased its stakes Rackspace Hosting, Inc. (NYSE:RAX) and IAC/InterActiveCorp (NASDAQ:IACI) while removing its investments in Verizon Communications Inc. (NYSE:VZ) and Google Inc (NASDAQ:GOOGL). The top three holdings of Third Point LLC include The Dow Chemical Company (NYSE:DOW), Ally Financial Inc (NYSE:ALLY), and Actavis plc (NYSE:ACT). You can click here to see complete list of Third Point’s holdings. (See Daniel Loeb’s entire portfolio).

The Dow Chemical Company (NYSE:DOW) is the top stock holding of Third Point LLC with 22,000,000 shares and market value of $1,132 million. The Dow Chemical Company (NYSE:DOW) constitutes 13.91% of Third Point LLC’s current portfolio. The EPS for second quarter 2014 was $0.73 per share and EBITDA of $2.2 billion for the quarter. Some of the major hedge funds with stakes in The Dow Chemical Company (NYSE:DOW) include Third Point LLC ($1,132 million), Oz Management ($479 million), and Discovery Capital Management ($472 million).

Dow Chemical Company (DOW)

Ally Financial Inc (NYSE:ALLY) is the second largest holding of Third Point LLC and it owns 45,595,000 shares of the company with current value of $1.1 billion. Ally Financial Inc (NYSE:ALLY) forms 13.38% of Third Point LLC’s portfolio. The company reported its second quarter results 2014 with net income of $323 million and adjusted earnings per share of $0.42. The company improved its net financing revenue by 32% on a year-over-year basis.

Third Point LLC has third largest stake in Actavis plc (NYSE:ACT) with 2,500,000 shares and value of $557 million. There has been no change in the portfolio percentage of Actavis plc (NYSE:ACT) standing at 6.85%. Its second quarter 2014 witnessed 34% improvement in its net revenue at $2.67 billion and non-GAAP earnings per share of $3.42.

This article has been written by Prakash Pandey and edited by Serkan Unal.

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