Dan Loeb made headlines in late June for his desire to shake up Nestle, and has been one of the few in the industry who has consistently outperformed the S&P 500 benchmark. Third Point is an activist fund that achieves its competitive advantage through its work in identifying companies it can help either fix up operationally or financially in order to obtain additional shareholder value. Baxter (BAX) and Dow Chemical (DOW) remain Third Point’s top two holdings. The portfolio has been aided by allocations to Alibaba (BABA), Google (GOOG), and Facebook (FB). Constellation Brands (STZ), Time Warner (TWX), Bank Of America (BAC), and Sotheby’s (BID) round out the top ten. All holdings outside of this range have a weight in the portfolio of under 3%. The complete list of holdings is found below: