Dan Loeb is the fund manager for Third Point LLC and the investment practices of the investment firm go back nearly 20 years. As per the recent SEC 13F filing of Third Point LLC on November 14, Dow Chemical Co (NYSE:DOW), Ally Financial Inc (NYSE:ALLY), Actavis plc (NYSE:ACT) are its three primary stock holdings.
Dow Chemical Co (NYSE:DOW) is the largest stock holding of Third Point LLC with 22,000,000 shares of the company at market price of $1.15 billion. Dow Chemical Co (NYSE:DOW) reported its third quarter 2014 financial results last month with sales of $14.4 billion and earnings per share of 71 cents during the quarter. Third Point LLC is the largest investor of Dow Chemical Co (NYSE:DOW) along with other investment firms including Oz Management and Discovery Capital Management. (Click here to see a complete list of hedge funds holding positions in Dow Chemical at the end of the second quarter)
Ally Financial Inc (NYSE:ALLY) comes at number two in the portfolio of Third Point LLC with 41,915,000 shares of the company at current market value of $969 million. The shares of Ally Financial Inc (NYSE:ALLY) are trading at $23.61 with year-to-date decline of 1.54% in 2014. Earlier last month, Ally Bank, subsidiary of Ally Financial Inc (NYSE:ALLY), was named as the “Best Online Bank” by Kiplinger’s Personal Finance Magazine. The last quarter of the financial group was a success in terms of the increase in auto-lending activities of the company.
Actavis plc (NYSE:ACT) is the third largest stock holding of Third Point LLC with 2,875,000 shares of the company at net market price of $693 million. The shares of Actavis plc (NYSE:ACT) are trading high at $269.60 with net gain of 8% in share prices on November 18. The primary reason for the spike in share prices is the acquisition of Allergan, Inc. (NYSE:AGN) for $66 billion. The combined company would be among the largest pharmaceutical companies of the world.
This article has been written by Prakash Pandey.