Third Point dissolves stakes in Netflix, Microsoft and Alibaba

Finance


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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.



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