What's Loeb's Third Point LLC Buying? Leap Wireless (LEAP) and Safeway (SWY) Make The List Among Others

May 21, 2008 3:41 PM EDT

Daniel Loeb's Third Point LLC issued their 13F for the quarter ended March 31, 2008 a few days ago. Below are few notable trades from the filing:

Notable Raised Stakes:
Clear Channel Communications Inc. (NYSE: CCU) from 3,500,000 to 7,750,000
Covidien, Ltd. (NYSE: COV) from 325,000 to 1,600,000
Huntsman Corp. (NYSE: HUN) from 2,000,000 to 4,300,000
MeadWestvaco Corporation (NYSE: MWV) from 2,750,000 to 4,000,000
Mylan (NYSE: MYL) from 3,150,000 to 4,100,000

Notable New Stakes:
American Eagle Outfitters Inc. (NYSE: AEO) new 4,300,000 share stake
Leap Wireless International Inc. (Nasdaq: LEAP) new 2,000,000 share stake
Maguire Properties Inc. (NYSE: MPG) new 3,350,000 share stake
Microsoft (Nasdaq: MSFT) new 6,850,000 share stake
Orient-Express Hotels Ltd. (NYSE: OEH) new 450,000 share stake
PHH Corp. (NYSE: PHH) new 1,900,000 share stake
Safeway Inc. (NYSE: SWY) new 1,200,000 share stake
Sapphire Industrials Corp. (AMEX: FYR) new 1,000,000 share stake
SiRF Technology Holdings Inc. (Nasdaq: SIRF) new 3,000,000 share stake
Yahoo! (Nasdaq: YHOO) new 1,000,000 share stake

Notable Lowered Stakes:
Atmel (Nasdaq: ATML) from 17,500,000 to 10,000,000
Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) from 1,600,000 to 0
Candela Corp. (Nasdaq: CLZR) from 2,201,200 to 0
Cypress Semiconductor Corporation (NYSE: CY) from 8,380,000 to 4,800,000
CV Therapeutics, Inc. (Nasdaq: CVTX) from 5,450,000 to 0
Qimonda AG (NYSE: QI) from 1,050,000 to 0
Weyerhaeuser Co. (NYSE: WY) from 575,000 to 0

Link to the full 13-F


Daniel S. Loeb runs $4.5 billion New York-based hedge fund Third Point LLC, which he founded in 1995. Loeb is known for his scathing letters to companies, in which he often criticizes management and pushes for changes. He has focused on investments in biotech and oil/gas, among other areas. Loeb is considered an activist investor, but also has many passive investments.


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AEO 27.53

+13.27 +93.06%
Volume: 443,710
Track AEO

ARIA 1.56

-0.03 -1.89%
Volume: 363,264
Track ARIA

ATML 3.79

+0.03 +0.80%
Volume: 4,501,173
Track ATML

CCU 27.40

-7.60 -21.71%
Volume: 444,466
Track CCU

CLZR 0.97

-0.03 -3.00%
Volume: 87,054
Track CLZR

COV 29.95

-6.91 -18.75%
Volume: 439,804
Track COV

CVTX 20.01

+0.00 +0.00%
Volume: 825,635
Track CVTX

CY 27.45

+18.26 +198.69%
Volume: 441,902
Track CY

FYR 29.96

+20.21 +207.28%
Volume: 431,967
Track FYR

HUN 5.33

+0.05 +0.95%
Volume: 4,025,389
Track HUN

LEAP 29.18

-1.37 -4.48%
Volume: 2,358,632
Track LEAP

MPG 29.79

+28.91 +3,285.23%
Volume: 454,387
Track MPG

MSFT 23.37

-0.67 -2.79%
Volume: 65,427,699
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MWV 28.65

+12.16 +73.74%
Volume: 452,544
Track MWV

MYL 12.42

-0.38 -2.97%
Volume: 8,059,802
Track MYL

OEH 25.06

+16.71 +200.12%
Volume: 444,953
Track OEH

PHH 25.18

+6.82 +37.15%
Volume: 433,105
Track PHH

QI 0.11

+0.00 +0.00%
Volume: 358,485
Track QI

SIRF 4.11

+0.00 +0.00%
Volume: 1,957,787
Track SIRF

SWY 27.51

+7.22 +35.58%
Volume: 440,096
Track SWY

WY 26.34

-4.43 -14.40%
Volume: 447,226
Track WY

YHOO 14.99

-0.42 -2.73%
Volume: 16,920,572
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