Daniel Loeb: Disney’s In, Virgin Media’s Out

by Adam Benjamin | August 16, 2013 11:50 am

Daniel Loeb: Disney’s In, Virgin Media’s Out

Yesterday was 13F day, where we got to see the various “smart money” filings that showed us who bought and sold what for the second quarter of 2013.

Among the hot names was Daniel Loeb’s Third Point LLC. The short version: He waved goodbye to a lot of positions. As for the long version …

Exited

Daniel Loeb said goodbye to fellow billionaire Richard Branson, dropping all 11 million shares in Virgin Media (VMED[1]). Third Point dumped all 15 million shares of Chimera Investment Corporation (CIM[2]), as well as pulling out of Delphi Automotive (DLPH[3]), Louisiana Pacific (LPX[4]), Murphy Oil (MUR[5]) and NXP Semiconductors (NXPI[6]).

Loeb also exited his position in biotech firm AbbVie (ABBV[7]), which subsequently dropped 3% on the day.

Lowered

Loeb also dropped 3.5 million shares of AIG (AIG[8]), although the insurance company still is easily Third Point’s second-largest holding at 10 million shares. He also shed 40% of his position in NewsCorp (NWSA[9]) and roughly 20% of his shares in Anadarko Petroleum (APC[10]).

Added

Loeb is either a Star Wars fan, or perhaps just a savvy investor, as he bought 1.8 million shares of Disney (DIS[11]) — if he bought very early in the quarter, he could be sitting on gains of as much as 13%. Other notable names added to the portfolio include Coca-Cola (KO[12]) and Marathon Petroleum (MPC[13]).

He also made a bullish call on emerging markets, starting a position in the iShares MSCI Emerging Markets ETF (EEM[14]) with 4 million shares.

Raised

Loeb nearly doubled his position in medical tech firm Thermo Fisher Scientific (TMO[15]), up from 1.3 million to 2.5 million shares, and pulled in another 2 million shares of auctioneer Sothebys (BID[16]), bringing his total up to 2.5 million from 500,000.

Unmoved

Despite Loeb’s June statement that he would sell 40 million shares of Yahoo (YHOO[17]), he still had all 62 million shares listed on the 13F. So is the hedge fund manager going back on his word? No. He actually sold off big in July, which was too recently to show up on the form.

Adam Benjamin is an Assistant Editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.

Endnotes:
  1. VMED: http://studio-5.financialcontent.com/investplace/quote?Symbol=VMED
  2. CIM: http://studio-5.financialcontent.com/investplace/quote?Symbol=CIM
  3. DLPH: http://studio-5.financialcontent.com/investplace/quote?Symbol=DLPH
  4. LPX: http://studio-5.financialcontent.com/investplace/quote?Symbol=LPX
  5. MUR: http://studio-5.financialcontent.com/investplace/quote?Symbol=MUR
  6. NXPI: http://studio-5.financialcontent.com/investplace/quote?Symbol=NXPI
  7. ABBV: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABBV
  8. AIG: http://studio-5.financialcontent.com/investplace/quote?Symbol=AIG
  9. NWSA: http://studio-5.financialcontent.com/investplace/quote?Symbol=NWSA
  10. APC: http://studio-5.financialcontent.com/investplace/quote?Symbol=APC
  11. DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
  12. KO: http://studio-5.financialcontent.com/investplace/quote?Symbol=KO
  13. MPC: http://studio-5.financialcontent.com/investplace/quote?Symbol=MPC
  14. EEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=EEM
  15. TMO: http://studio-5.financialcontent.com/investplace/quote?Symbol=TMO
  16. BID: http://studio-5.financialcontent.com/investplace/quote?Symbol=BID
  17. YHOO: http://studio-5.financialcontent.com/investplace/quote?Symbol=YHOO

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