Dan Loeb Purges Portfolio, Cuts Over Two Thirds Of Equity Holdings, Adds 25 New Positions

Tyler Durden's picture


In Q2 Dan Loeb went to town to his holdings as of March 31. Of his roughly 38 different positions, Loeb cut 24 names to zero among which Cisco, Marvell Technology, Sara Lee, Google, Wells Fargo (with the Octogenarian of Omaha likely buying every share), El Paso, Abercrobmie, Goldman and many others. Of course, he kept his stake in Yahoo and added to Apple, while cutting his Delphi stake from 13.34 million shares to 11.5 million. He used the proceeds from these sales to add to new positions (latest 13F here) in new names such aws AIG, Aetna, Chesapeake, Cigna, Coca Cola, Enphase, Humana, News Corp, and Unitedhealth Group. Also, Loeb went quite optically against Bill Ackman and bought a $6.5 million share equivalent put in JCPenney. He is significantly in the money in this.  Altogether, his disclosed equity stake was at $3.3 billion as of June 30, down from $4.1 billion at March 31. Dry powder? Or more likely getting more into bonds (which he doesn't have to disclose on any filing).

New positions are highlighted in green below.

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Tue, 08/14/2012 - 17:02 | 2705016 monopoly
monopoly's picture

And nobody buys miners. Just us.

Tue, 08/14/2012 - 17:03 | 2705018 slaughterer
slaughterer's picture

What does Loeb see in Yahoo?

Tue, 08/14/2012 - 17:09 | 2705033 buzzsaw99
buzzsaw99's picture

I don't know what he sees but yahoo has been mismanaged for years. second search engine to google it has half the traffic but less than a tenth the market cap. they were and are a prime contender to be bought out by anyone competing with goog and they have a huge database and other assets.

Tue, 08/14/2012 - 18:53 | 2705249 Tippoo Sultan
Tippoo Sultan's picture

Tyler, how about the quarterly on Leopold's portfolio next ?

Tue, 08/14/2012 - 18:06 | 2705093 Daily Bail
Daily Bail's picture

I have no idea, but I've long wondered what anyone sees in Yahoo.  It's a dead company that will eventually find itself in the dustbin of internet history.  The only value I see are its stakes in other companies, like Alibaba.  But hey, at least he doesn't own Bank of America.

Chris Whalen: 'Bank Of America Will Split And Merrill Lynch Will Have $30 Billion+ Of Litigation Exposure For The Mortgage Mess, Just By Themselves'

Whalen with Melissa Francis yesterday...

Tue, 08/14/2012 - 17:06 | 2705024 silverserfer
silverserfer's picture

at least not thoose who have good due diligence skills.

Tue, 08/14/2012 - 17:12 | 2705027 poor fella
poor fella's picture

Refuse to acknowledge (and don't want to encourage) the real money creators?

Tue, 08/14/2012 - 17:34 | 2705081 NotApplicable
NotApplicable's picture

Not me!

Why would anyone buy something that will someday be nationalized?

You gonna get Chavezed!

Tue, 08/14/2012 - 17:06 | 2705025 Meesohaawnee
Meesohaawnee's picture

robo  buys miners. .

Tue, 08/14/2012 - 17:17 | 2705051 yabyum
yabyum's picture

I buy miners, I have a taste for the pain.

Tue, 08/14/2012 - 17:08 | 2705030 disabledvet
disabledvet's picture

Bill "the Cat" ACKman vs the Frontal Loeb. Should be fun!

Tue, 08/14/2012 - 17:09 | 2705034 Piranhanoia
Piranhanoia's picture

roulette isn't a science.  Even if the wheel isn't broken, you lose.

Tue, 08/14/2012 - 17:12 | 2705038 Dr. Engali
Dr. Engali's picture

That's a boatload of Yahoo. He better hope for a buyout. Maybe he is looking at the Farcebook integration.

Tue, 08/14/2012 - 17:14 | 2705047 Meesohaawnee
Meesohaawnee's picture

im sure sugar britches has some motivation to sell it off. isnt it like 100 million of them? she better yhoo in my world has become a total embarrassment

Tue, 08/14/2012 - 18:42 | 2705213 Alea Iactaest
Alea Iactaest's picture

FB integration w YHOO might be a sure thing if you believe that FB is an essential security tool going forward.


EDIT: would make YHOO a sure thing (not FB)

Tue, 08/14/2012 - 17:11 | 2705039 johnjkiii
johnjkiii's picture

The Octo from Oma just sold off his stuff as well. Oooooooh, this could mean something!

Tue, 08/14/2012 - 17:36 | 2705082 NotApplicable
NotApplicable's picture

What's this? Mr. Buy-and-hold is losing his nerve?

Tue, 08/14/2012 - 17:41 | 2705091 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

He sold off in late june and missed the last move up.  Buffet has sucked at trading for years.

Tue, 08/14/2012 - 17:12 | 2705042 Darkness
Darkness's picture

I think you mispelled ABERCROMBIE. I think he realizes that Europe will open up some cash opportunities in the near future. 

Tue, 08/14/2012 - 17:13 | 2705044 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Dan Loeb's trades are retarded.

Tue, 08/14/2012 - 17:21 | 2705057 monopoly
monopoly's picture

Yahoo! Marissa is not that pretty. Not for me.

Tue, 08/14/2012 - 17:22 | 2705058 I am a Man I am...
I am a Man I am Forty's picture

How shitty can you be at picking stocks to begin with if you have to cut most of your portfolio?  Who gives these fuckers money??  Let me guess, Calpers?

Tue, 08/14/2012 - 17:25 | 2705067 SwingForce
SwingForce's picture

What, no Altria or Philip Morris??

Tue, 08/14/2012 - 17:30 | 2705072 youngman
youngman's picture

Funny how the Oracle of Omaha sold a bunch of stock.....I always thought he was a big long term holder......maybe he is buying more derivitives....he loves those....its more like he needs to finance Obama´s campaign.....or maybe Becky Quick´s baby has his DNA in it...

Wed, 08/15/2012 - 00:17 | 2705900 Freddie
Freddie's picture

.....or maybe Becky Quick´s baby has his DNA in it...

Eewwww.    LOL! 

Tue, 08/14/2012 - 17:46 | 2705100 Hype Alert
Hype Alert's picture

Taking a chance on Chesapeake.  Somehow that value doesn't look right at $.79/share.  Maybe he's already written them down?

Tue, 08/14/2012 - 17:46 | 2705102 Central Bankster
Central Bankster's picture

Well atleast I know who I lost money shorting COG.  Bastard!

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