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

Adidas may have underestimated Tiger, this private equity firm may win
Hyundai aiming for entry level and used car buyers with new SUV
60% of millennials don’t have $500 to cover their tax bill: Survey
Jaguar I-Pace electric SUV sweeps awards at New York auto show
Tech stocks are best positioned this earnings season, says Nick Colas

Leave a Reply

Your email address will not be published.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