Dan Loeb’s Third Point LLC has filed its 13F for the last three months of 2012. In the period Loeb’s hedge fund sold its entire stake in Apple Inc. (NASDAQ:AAPL), the opposite moves of several other fund managers.
The firm dissolved several positions during the last three months of the year, and added just one new position.
Loeb held 710,000 shares in Apple Inc. (NASDAQ:AAPL) at the end of the third quarter of 2012. That stake was worth $ 473,644,536 back at the end of September, and Loeb cashed in the entire stake during the last three months of the year.
In contrast both David Tepper and David Einhorn have added to their holdings in the company.
Top value fund managers are ready for the small cap bear market to be done
During the bull market, small caps haven't been performing well, but some believe that could be about to change. Breach Inlet Founder and Portfolio Manager Chris Colvin and Gradient Investments President Michael Binger both expect small caps to take off. Q1 2020 hedge fund letters, conferences and more However, not everyone is convinced. BTIG strategist Read More
David Einhorn’s Greenlight Capital added 45% to its stake in Apple Inc. (NASDAQ:AAPL) bringing it to a total of 1.6 million shares. David Tepper’s Appaloosa Capital Management increased its Apple Inc. (NASDAQ:AAPL) stake by 75.1% in the quarter, bringing its total holding of shares in the company to 912,661.
In the last three month of 2012, Loeb’s Third Point LLC added 3.1 million shares in Herbalife Ltd. (NYSE:HLF); he is betting long on the company and opposing a big public that Bill Ackman is making on the company. The position is a new one for Third Point.
That was the only addition that Third Point LLC made to its portfolio in the quarter. It did, however, drop positions in a large amount of companies including a 2,500,000 share stake in Autodesk, Inc. (NASDAQ:ADSK) which was worth $ 83,374,996 at the end of September. Shares in the firm rose by just over 3% in the last quarter of 2012.
Loeb also shed his positions in Cabot Oil & Gas Corporation (NYSE:COG), Cigna Corporation (NYSE:CI), Newell Rubbermaid Inc. (NYSE:NWL), United Technologies Corporation (NYSE:UTX), UnitedHealth Group Inc. (NYSE:UNH), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), WellPoint, Inc. (NYSE:WLP), Westlake Chemical Corporation (NYSE:WLK) and NXP Semiconductors NV (NASDAQ:NXPI).
Dan Loeb was clearly cleaning house in the fourth quarter of 2012, clearing out of a huge amount of positions and adding nothing but a large long position in Herbalife Ltd. (NYSE:HLF).
On the other hand, David Einhorn added to a a couple of positions in the third quarter of 2012, and had two of them in common with David Tepper. Apart form their increase in Apple Inc. (NASDAQ:AAPL), both Greenlight and Appaloosa added to positions in Microsoft Corporation (NYSE:MSFT). Greenlight increased it’s position by 41.3% to 10.8 million shares. Appaloosa increased its position by 179.1 percent to 3.2 million.
Greenlight Capital also added positions in Marvell Technology Group Ltd. (NASDAQ:MRVL) and Aethna Inc. (NYSE:AET). Those increases were 58.3 percent and 48 percent to 51.8 million and 6.5 million shares respectively.
Appaloosa cut, but did not leave, positions in Bank of America Corp (NYSE:BAC), Citigroup Inc. (NYSE:C), General Motors Company (NYSE:GM), NetApp Inc (NASDAQ:NTAP) and Oracle Corporation (NASDAQ:ORCL) and American International Group, Inc. (NYSE:AIG).
Greenlight cut, but did not leave, positions in Sprint Nextel Corporation (NYSE:S), Yahoo! Inc. (NASDAQ:YHOO), and General Motors Company (NYSE:GM).