Energy Bull Dan Loeb Just Bought A Massive Chunk In El Paso And Now It’s His Biggest Stake

Dan Loeb Third Point

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Third Point’s latest 13F is out and Dan Loeb dumped materials and scooped up a ton of energy stock, building on acquistions made in that sector in Q4.He increased energy holdings by a huge 17.7%, with a massive new stake in El Paso of 11 million shares.

The natural gas company is now the top holding in the portfolio.

In fact his 3 of his top 4 holdings are now all energy: El Paso, CVR Energy and Williams — he added to CVR and Williams last quarter.

Loeb also opened a new stake in petroleum refiner and retailer Tesoro.

Meanwhile elsewhere in energy he liquidated Massey.

Other liquidations: Alcon, Citi, Airgas, Rio Tinto and Yahoo.

The other huge change? Loeb dumped materials stocks — reducing the sector by 14.2%.

Other new buys: Ebay, Safeway, Sara Lee and CBS.

Here are Third Point’s top 10 holdings by market value:

  1. El Paso
  2. CVR Energy
  3. Lyondell
  4. Williams
  5. NXP Semiconductor
  6. Sunoco
  7. Healthnet
  8. Smurfit-Stone
  9. Apple
  10. Pall