Loeb's Third Point 13F; Shows New Stakes in BUD, C, CVS, MER, WEN, UST, Sells Out of MA

November 14, 2008 3:28 PM EST

Daniel Loeb's Third Point hedge fund released its 13F for the quarter ended September 30, 2008. Notably, Third Point's total long exposure went from $3.888 billion to $1.724 billion Here is a summary:

New Stakes:
Amedisys (Nasdaq: AMED) 100,000 shares
Anheuser-Busch (NYSE: BUD) 800,000 shares
AVI Biopharma (Nasdaq: AVII) 100,000 shares
Citigroup (NYSE: C) 200,000 shares
DineEquity (NYSE: DIN) 590,000 shares
Dr Pepper Snapple Group (NYSE: DPS) 3,350,000 shares
CVS Caremark (NYSE: CVS) 1,000,000 shares
EDCI Holdings (Nasdaq: EDCI) 155,000 shares
Epicor Software (Nasdaq: EPIC) 2,400,000 shares
Hewlett-Packard (NYSE: HPQ) 650,000 shares
JB Hunt (Nasdaq: JBHT) 10,000 shares
Lorillard (NYSE: LO) 1,100,000 shares
Merrill Lynch (NYSE: MER) 250,000 shares
Rohm & Haas (NYSE: ROH) 700,000 shares
UST (NYSE: UST) 250,000 shares
Verigy (Nasdaq: VRGY) 650,000 shares
Wendy's (NYSE: WEN) 3,750,000 shares

Raised Stakes:
Energy XXI (Bermuda) Limited (Nasdaq: EXXI) from 19,561,800 shares to 22,000,000 shares
EXCO Resources (NYSE: XCO) from 4,500,000 shares to 6,700,000 shares
Orient-Express Hotels (NYSE: OEH) from 450,000 shares to 1,540,000 shares
Phoenix Companies (NYSE: PNX) from 5,690,000 shares to 9,000,000 shares
Target (NYSE: TGT) from 418,700 shares to 500,000 shares
Telephone & Data Systems (NYSE: TDS) from 520,000 shares to 1,395,000 shares
Teredata (NYSE: TDC) from 23,000,000 shares to 40,000,000 shares
Thompson Creek Metals (NYSE: TC) from 4,100,000 shares to 4,500,000 shares
TIBCO Software (Nasdaq: TIBX) from 3,700,000 shares to 7,500,000 shares

Lowered Stakes:
American Eagle (NYSE: AEO) from 5,000,000 shares to 3,250,000 shares
Covidien (NYSE: COV) from 1,600,000 shares to 500,000 shares
EMCORE (Nasdaq: EMKR) from 750,000 shares to 650,000 shares
EnPro Industries (NYSE: NPO) from 850,000 shares to 385,000 shares
Flow Int'l (Nasdaq: FLOW) from 4,560,000 shares to 3,850,000 shares
GLG Partners (NYSE: GLG) from 3,000,000 shares to 1,920,000 shares
Greenlight Capital Re (Nasdaq: GLRE) from 750,000 shares to 725,000 shares
Leap Wireless (Nasdaq: LEAP) from 2,600,000 shares to 1,800,000 shares
MeadWestvaco (NYSE: MWV) from 2,500,000 shares to 1,450,000 shares
Plains Exploration & Production (NYSE: PXP) from 4,099,999 shares to 2,300,000 shares
Progressive Gaming Int'l (Nasdaq: PGIC) from 4,000,000 shares to 500,000 shares
Time Warner (NYSE: TWX) from 8,500,000 shares to 4,750,000 shares

Liquidated Stakes:
Abraxas Petroleum (Nasdaq: AXAS) from 1,207,572 shares
AK Steel (NYSE: AKS) from 1,000,000 shares
American Superconductor (Nasdaq: AMSC) from 335,000 shares
BHP Billiton (NYSE: BHP) from 1,900,000 shares
Cabot Oil & Gas (NYSE: CBT) from 465,000 shares
Canadian Natural Resources (NYSE: CNQ) from 300,000 shares
Chesapeake Energy (NYSE: CHK) from 500,000 shares
Comstock Resources (NYSE: CRK) from 250,000 shares
Horsehead Holding (Nasdaq: ZINC) from 2,375,000 shares
Loral Space & Communications (Nasdaq: LORL) from 110,000 shares
MasterCard (NYSE: MA) from 1,500,000 shares
Microsoft (Nasdaq: MSFT) from 6,850,000 shares
Motorcar Parts of America Inc. (Nasdaq: MPAA) from 986,700 shares
Orion Marine Group (Nasdaq: OMGI) from 1,144,700 shares
Petrohawk (NYSE: HK) from 800,000 shares
Petrobras (NYSE: PBR) from 500,000 shares
Public Service Enterprise Group (NYSE: PEG) 2,150,000 shares
Questar (NYSE: STR) 3,900,000 shares
Safeway (NYSE: SWY) 1,000,000 shares
SandRidge (NYSE: SD) 1,000,000 shares
SiRF Technology (Nasdaq: SIRF) from 2,750,000 shares
St. Mary Land & Exploration (NYSE: SM) from 650,000 shares
Starwood Hotels (NYSE: HOT) from 425,000 shares
XTO Energy (NYSE: XTO) from 300,000 shares

Maintained Stakes:
Augusta Resources (NYSE: AZC) 1,740,000 share stake
BioFuel Energy (Nasdaq: BIOF) 5,578,800 share stake
DepoMed (Nasdaq: DEPO) 7,050,000 share stake
Ligand Pharma (Nasdaq: LGND) 2,007,378 share stake
Maguire Properties (NYSE: MPG) 4,225,000 share stake
Nabi Biopharma (Nasdaq: NABI) 6,890,000 shares
OSI Systems (Nasdaq: OSIS) 204,495 shares
PHH Corp. (NYSE: PHH) 2,000,000 shares
TXCO Resources (Nasdaq: TXCO) 2,820,000 shares
Victory Acquisition Corp. (NYSE: VRY) 2,650,000 shares


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