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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Stocks Mentioned

AEO 15.05

+0.26 +1.76%
Volume: 4,424,352
Track AEO

ARIA 3.11

-0.08 -2.51%
Volume: 149,031
Track ARIA

ATML 4.19

-0.15 -3.46%
Volume: 2,849,497
Track ATML

CCU 35.98

+0.00 +0.00%
Volume: 0
Track CCU

CLZR 3.06

+0.02 +0.66%
Volume: 189,780
Track CLZR

COV 54.07

-1.18 -2.14%
Volume: 2,483,251
Track COV

CVTX 11.49

-0.17 -1.46%
Volume: 588,906
Track CVTX

CY 32.42

+0.21 +0.65%
Volume: 4,754,286
Track CY

FYR 9.49

+0.00 +0.00%
Volume: 100
Track FYR

HUN 13.05

-0.05 -0.38%
Volume: 3,697,791
Track HUN

LEAP 44.66

-0.64 -1.41%
Volume: 532,756
Track LEAP

MPG 11.32

-0.13 -1.14%
Volume: 482,732
Track MPG

MSFT 27.29

-0.65 -2.33%
Volume: 50,734,591
Track MSFT

MWV 26.48

-0.50 -1.85%
Volume: 988,350
Track MWV

MYL 12.89

-0.11 -0.85%
Volume: 3,529,159
Track MYL

OEH 35.90

+0.00 +0.00%
Volume: 344,763
Track OEH

PHH 15.25

-0.19 -1.23%
Volume: 587,512
Track PHH

QI 2.01

-0.01 -0.50%
Volume: 308,423
Track QI

SIRF 1.85

-0.15 -7.50%
Volume: 1,278,060
Track SIRF

SWY 26.34

+0.04 +0.15%
Volume: 2,847,379
Track SWY

WY 55.49

-1.10 -1.94%
Volume: 2,051,400
Track WY

YHOO 19.38

-0.27 -1.37%
Volume: 11,203,720
Track YHOO


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