is an activist investor who has recently suggested a few ideas to
top holding Sony (
), via a less strongly worded letter to top management than
usual. He could be out to replicate his success with Yahoo (
), a sleepy company he shook up and then watched rise 75% in
stock price the past 12 months. Loeb's 10.5% return through April
lagged the S&P 500 index's 12.7%, though his annualized
return since the inception of Third Point, his event-driven hedge
fund, is 17.9%, compared to 6.6% for the S&P 500.
first quarter letter
, Loeb said, "Consistent with our approach over the past few
quarters, we have approximately half the equity exposure of the
market and vary our net and gross dynamically. We are continuing
to find interesting event?driven opportunities in equities,
credit and currencies."
Third Point's portfolio updated for the first quarter shows some
significant changes among his passive investments as well.
GuruFocus Real Time Picks
reports Loeb bought three new stakes whose sizes rank among his
top 10 holdings.
3. B/E Aerospace Inc. (
Loeb bought 2 million shares of his new 10
largest holding, B/E Aerospace Inc. (
), for an average price of $54. The stock is up 17% from his
B/E Aerospace Inc. is a Delaware corporation incorporated in
1987. The company is world's dominant providers of interior
products and distributors of aerospace fasteners and consumables
for aerospace markets.
B/E Aerospace Inc has a market cap of $6.79 billion; its shares
were traded at around $62.83 with a P/E ratio of 25.40 and P/S
ratio of 2.10. B/E Aerospace Inc. had an annual average earnings
growth of 12.1% over the past 10 years.
10-year financial page
2. Tiffany & Co. (
Loeb's purchase of 2.7 million shares of Tiffany made it his
sixth largest holding, with a 3.5% weighting in his portfolio.
Shares have increased 20% from the $65 average price he paid.
Tiffany & Co., a luxury jeweler, was incorporated in New York
in 1868. Tiffany & Co. has a market cap of $9.93 billion; its
shares were traded around $78.00 with a P/E ratio of 24.10 and
P/S ratio of 2.60. The dividend yield of Tiffany & Co. stocks
is 1.60%. Tiffany & Co. had an annual average earnings growth
of 10.6% over the past 10 years. GuruFocus rated Tiffany &
Co. the business predictability rank of 4.5-star.
See its 10-year financial page.
Virgin Media Inc. (
Loeb purchased 11 million shares of Virgin Media in the first
quarter, for a 4.08% stake in the company and 10.1% weight in his
portfolio, making it his second largest position behind Yahoo.
Shares have increased 17% from his $43 per-share average purchase
Virgin Media Inc. is engaged in the entertainment and
communications business, being a quad-play provider of broadband
internet, television, mobile telephony and fixed line telephony
services that offer a variety of entertainment and communications
services to residential and commercial customers throughout the
Virgin Media Inc. has a market cap of $13.74 billion; its shares
were traded at around $50.36 with a P/E ratio of 3.60 and P/S
ratio of 2.60. The dividend yield of Virgin Media Inc. stocks is
0.30%. Virgin Media Inc. had an annual average earnings growth of
31.8% over the past 10 years.
See its 10-year financial page.
See Daniel Loeb updated portfolio of buys and sells here. Also
check out the Undervalued Stocks, Top Growth Companies and High
Yield stocks of Daniel Loeb.About GuruFocus: GuruFocus.com tracks
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