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:
- El Paso
- CVR Energy
- NXP Semiconductor