Third Point, Saddle Point win board seats at Advance Auto Parts. A plan to improve margins may unfold

Third Point has formed a group in this investment with Saddle Point. This group has a collective economic ownership to 4,781,557 shares (8.04%) of AAP stock, which is a combination of common stock and derivatives, a vast majority of which is owned by Third Point. Saddle Point is an investment firm run by Roy Katzovicz, the former chief legal officer of Pershing Square Capital Management.Activist Commentary: Third Point is a multi-strategy hedge fund founded by Dan Loeb, that will selectively take activist p ...