Billionaire hedge fund manager Daniel Loeb made a big bet on Alibaba (BABA)

REUTERS/Phil McCarten Daniel Loeb’s hedge fund, Third Point, took a large stake in Alibaba in the second quarter, according to SEC filings. The fund bought 4.5 million shares of the Chinese e-commerce giant which are worth about $ 634.1 million. Loeb also bought a large $ 654.7 million stake in BlackRock in the period.  Jack Ma, CEO of […]

Dan Loeb ditched all his shares of Snap

Reuters/ Steve Marcus Dan Loeb’s Third Point hedge fund, which manages roughly $ 17.5 billion in assets, has sold its entire stake in Snap Inc., according to regulatory filings released late Friday. The SEC filings represent second quarter holdings by Third Point, so the firm’s positions could have changed since the end of the quarter. Third Point […]

Billionaire Dan Loeb is betting big on $5.7 trillion fund giant BlackRock (BLK)

Getty Images/ Larry Busacca Dan Loeb’s Third Point hedge fund is betting big on BlackRock, the world’s largest asset manager. In a client letter dated July 26 explaining its stock investment, Third Point said: “We think BlackRock is a misunderstood franchise that is just beginning to inflect.” Here’s an excerpt from the letter (emphasis added): “We […]