Stakes down in Microsoft, Alibaba and Netflix: Third Point

Stakes down in Microsoft, Alibaba and Netflix: Third Point
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New York-based hedge fund, ” Third Point” of Daniel Loeb as of December 2018 has diffused its stakes in Microsoft, Netflix and Alibaba. There was a filing registered on Friday which mentioned about the Securities as well as about the Exchange Commission.

The previous reports reveal that the hedge fund, “Third Point” has earlier held 1.25 million shares of Netflix, 4.1 million shares of Microsoft and 4.05 million shares of Alibaba. This was till September 30, 2018, as the quarter got terminated then.

Loeb, last November, was seen expressing his worries about the existing market conditions. He, in his letters to his investors, has announced that he had cut short his firm’s positions in the technology stocks. According to the November filing, Third Point was seen slashing its position in Netflix by more than 33 per cent. On the other hand, when it came to Microsoft, Third Point has increased its positions.

Stakes down in Microsoft, Alibaba and Netflix: Third Point

The filing usually comes after a difficult year for the fund, which saw a yearly loss of about 11 per cent, according to figures obtained by CNBC’s Leslie Picker. The stock market receives severe shakes in the form of the concerns over decelerating economic conditions as well as ongoing trade disturbances.

Loeb historically has handed over the returns in double, that of the S&P 500’s for more than two decades. His central hedge fund returned 18.1 per cent in 2017, while many of his peers significantly underperformed the market.

At the same time, Third Point increased its holding in Campbell Soup Co. CPB, +0.26% to 21 million from 18 million. It was an attempt to push for a company’s sale. For all of 2018, Third Point had reported losses of 11%, the worst since 2008.

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