Dan Loeb's Third Point adds 700,000 shares of Alphabet: filing
Reuters
Published May 13, 2016 08:41PM ET
Dan Loeb's Third Point adds 700,000 shares of Alphabet: filing
NEW YORK (Reuters) - Dan Loeb's hedge fund Third Point LLC bought more than a half a million Class A share position of Google (NASDAQ:GOOGL) parent Alphabet Inc, according to a Securities and Exchange Commission filing late Friday.
Third Point took a new stake of 700,000 Alphabet shares, worth roughly $534 million, while eliminating positions in Ace Ltd, eBay Inc (NASDAQ:EBAY) and Morgan Stanley (NYSE:MS).
Third Point also cut its positions in Allergan (NYSE:AGN_pa) PLC, and Amgen Inc (NASDAQ:AMGN) by more than half. Third Point also took new positions in VMWare Inc, 21st Century Fox Inc and Lowe's Cos, according to the filing.
Hedge-fund SEC disclosures are backward-looking and come out 45 days after the end of each quarter. Still, the filings offer a glimpse into what hedge fund managers saw as investment opportunities.
The filings do not disclose short positions, or bets that a stock will fall. As a result, they do not always present a complete picture of a management firm's stock holdings.
A spokeswoman at Third Point declined to comment on the firm's new holdings.
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Written By: Reuters
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