Third Point’s billionaire boss dumped shares of a dual-industry leader and opened a sizable position in a brand-name company known for thinking outside the box.
Key Points
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Form 13Fs are quarterly filings that allow investors to track which stocks Wall Street’s preeminent money managers have been buying and selling.
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Billionaire Dan Loeb has cut his fund’s stake in Amazon by 57% since the midpoint of 2024, and profit-taking might be only part of the story.
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Meanwhile, a historical outperformer became Third Point’s biggest new addition in the fourth quarter — but this investment is far from a slam-dunk.
