This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Hedge Funds' Top Stocks Soar After 2011 Rout (Update 2)

Daniel Loeb

Third Point, a $4.6 billion hedge fund run by Dan Loeb, has a 5.2% stake of Internet firm Yahoo (YHOO - Get Report), and Loeb has been in a dog fight with its board of directors, as he says it has mismanaged Yahoo and bungled chances to sell the company at a premium.

Yahoo has a five-year annualized loss of 12% and is down 2% this year.

Yahoo made up almost 30% of Third Point's portfolio late last year, so Loeb has good reason to want its management to do something to boost share returns.

Loeb wrote in a letter to Yahoo directors that his firm is "not surprised by this mismanagement given the history of strategic bungling by Yahoo Board Chairman Roy Bostock and founder Jerry Yang, which has been chronicled in our previous letters and in numerous critical media and analyst reports."

Yahoo, according to reports, is in talks about selling a stake in China's Alibaba, the New York Times reported Thursday. That would give Yahoo more cash but lacking an inroad into China.

Third Point returned 3.8% in January and has a one-year return of 17.5%.

The fund's second-largest holding at the start of the fourth quarter was Williams Co. (WMB), a natural gas transmission company, at 6%.

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
DELL $0.00 0.00%
AAPL $132.74 1.90%
FSLR $63.74 0.49%
GMCR $115.45 0.35%
JCP $8.42 0.12%

Markets

DOW 18,096.49 +16.35 0.09%
S&P 500 2,118.71 +1.02 0.05%
NASDAQ 5,086.8730 -5.2120 -0.10%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs