Dan Loeb, the aggressive activist investor, moved in to buy 2.5 million shares of Actavis plc (NYSE:ACT) in the first quarter, making it his top position. Actavis also came up as a new position in Steve Mandel’s Lone Pine Capital.
According to the 13f filed moments ago, his hedge fund Third Point was once again buying CF Industries Holdings, Inc. (NYSE:CF), where the fund bought 966k shares. Dan Loeb had a pretty busy quarter, the long portfolio was expanded to include 21 new stock positions. Third Point also bought a hedge fund-favorite pharma stock, Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX), in Q1.
Dan Loeb and Warren Buffet buy Verizon
Verizon Communications Inc. (NYSE:VZ) was another of Dan Loeb’s notable picks this quarter. So far Warren Buffett and Kyle Bass have also initiated new stakes in Verizon. Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) also bought 11 million shares of Verizon in Q1.
Warren Buffett sold a quarter of his holdings in General Motors Company (NYSE:GM), which is now down to 30 million shares from 40 million shares. Berkshire also cut its holding in Phillips 66 (NYSE:PSX); after selling 17.4 million shares, the fund now holds 9.7 million shares.
Third Point was seen boosting its position in Liberty Global plc (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) Class C shares, which was increased twofold. In the meanwhile, the fund sold 1.8 million Class A shares. Here again, Loeb’s move converges with Berkshire Hathaway’s, which bought 7.34 million of Liberty Global plc Class C shares.
Third Point also snapped up 380k shares in Time Warner Cable Inc (NYSE:TWC), 2 million in Citigroup Inc. (NYSE:C) and 1.5 million in Mondelez International Inc (NASDAQ:MDLZ) this quarter.
Dan Loeb sells Apple and Blackberry, adds to Google
Third Point sold complete its stake in Yahoo, which was no surprise given the fund’s deal with management. Other notable exits were Apple Inc. (NASDAQ:AAPL) where it sold 100k shares, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) where the firm unloaded sold 10 million shares and Gilead Sciences, Inc. (NASDAQ:GILD) where it sold 1.5 million shares.
Dan Loeb sold 20% of his holdings in the courier service, FedEx Corporation (NYSE:FDX), and the position is now down to 2 million shares. His position in American International Group Inc (NYSE:AIG) was also cut from 7.5 million shares to 6 million shares.
Dan Loeb was one of the few hedge fund managers who is buying more Google Inc NASDAQ:GOOGL) currently; his fund added 50,000 shares of Google in Q1. At the end of the quarter, Third Point’s top positions were Actavis, The Dow Chemical Company (NYSE:DOW), T-Mobile US Inc (NYSE:TMUS), AIG and Sothebys (NYSE:BID).