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