Third Point dissolves stakes in Netflix, Microsoft and Alibaba


Jacob Kepler/Bloomberg | Getty Images

Daniel S. Loeb, Third Point

Daniel Loeb’s Third Point dissolved its stakes in Netflix, Microsoft and Alibaba as of Dec. 31, according to a Friday filing with the Securities and Exchange Commission.

The hedge fund previously held 1.25 million shares of Netflix, 4.1 million shares of Microsoft and 4.05 million shares of Alibaba as of the quarter ended Sept. 30 last year.

In November, Loeb had expressed concerns about market conditions. In a letter to his investors, he said he had trimmed his firm’s positions in technology stocks. In the November filing, Third Point disclosed it had slashed its position in Netflix by more than 33 percent, but had increased its position in Microsoft.

Source link

Products You May Like

Articles You May Like

Cancer patients can now press pause on their student loan bill
Kohl’s reports Q2 2019 earnings beat expectations, but sales miss
Income sharing agreements could cost students more than loans
Nordstrom shares jump after delivering strong profit, even as sales weaken in second quarter
Why you might want to rethink getting an adjustable rate mortgage

Leave a Reply

Your email address will not be published. Required fields are marked *