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

November 11, 2016, 11:03 AM UTC
Loeb, founder of Third Point LLC, participates in a panel discussion during the Skybridge Alternatives Conference in Las Vegas
Daniel S. Loeb, founder of Third Point LLC, participates in a panel discussion during the Skybridge Alternatives (SALT) Conference in Las Vegas, Nevada May 9, 2012. SALT brings together public policy officials, capital allocators, and hedge fund managers to discuss financial markets. REUTERS/Steve Marcus (UNITED STATES - Tags: BUSINESS HEADSHOT) - RTR31UE6
Photograph by Steve Marcus — Reuters

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.