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