Loeb, founder of Third Point LLC, participates in a panel discussion during the Skybridge Alternatives Conference in Las Vegas
Daniel Loeb, founder of Third Point  Photograph by Steve Marcus — Reuters

Third Point’s Dan Loeb Just Bought Big Stakes in These Tech Brand Names

Nov 11, 2016

Dan Loeb's Third Point hedge fund took a new share stake in Apple, Visa, and Dell Technologies during the third quarter, according to regulatory filings late on Thursday.

Third Point, closely followed in the investment community because of its pattern of delivering strong returns, took a 2.5 million share-stake in Apple (aapl), a 2.1 million class A share-stake in Visa (v), and a 2.3 million share-stake in Dell Technologies.

In early November, Loeb told clients that Third Point's bets on corporate debt issued by Dell and Sprint Corp ranked among the year's top winners for the firm.

Through the end of September, the Third Point Offshore fund gained 7.2%, beating the average fund's 4% return.

Loeb's Third Point also increased its share stake in Facebook (fb) by 45.3% to 5.5 million class A shares, according to regulatory filings. In addition, the fund increased its stake in Alphabet (googl) by 37.5% to 550,000 class A capital stock shares, the filings said.

Third Point also took a 2.6 million sponsored ADS stake in Alibaba Group Holding (baba), according to the regulatory filings.

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