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Aug. 16, 2022, 7:49 a.m. EDT

Here’s what else besides Disney that hedge fund Third Point loaded up on recently

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By Claudia Assis

Activist investor Daniel Loeb’s Third Point LLC has bought new stakes in T-Mobile US Inc. and Colgate Palmolive Co. , and sold off holdings on EV maker Rivian Automotive Inc. and Amazon.com Inc., among other investment decisions, according to a filing late Monday.

Third Point earlier Monday disclosed a fresh stake on Walt Disney Co., saying it would seek changes in the media giant.

In a letter to Disney /zigman2/quotes/203410047/composite DIS -0.01% , the fund, which manages about $14 billion in assets, suggested cost cuts, a continuation of the dividend halt in order to conserve cash, and a spinoff of Disney’s ESPN business, among other proposals. Third Point bought 1 million Disney shares in the quarter ended June 30, according to the filing.

Third Point also bought more nearly 1.99 million shares of Colgate Palmolive /zigman2/quotes/200774077/composite CL -0.21% , and nearly half a million shares of T-Mobile /zigman2/quotes/204659678/composite TMUS +0.62% .

The hedge fund got rid of its Amazon.com /zigman2/quotes/210331248/composite AMZN -0.76% and Rivian /zigman2/quotes/230726939/composite RIVN -0.61% holdings, as well as its Dell Technologies Inc. /zigman2/quotes/203822527/composite DELL +0.04% , Intuit Inc. /zigman2/quotes/203136605/composite INTU -0.85% and Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -0.04% positions.

Third Point also sold off all its stakes in Western Digital Corp. /zigman2/quotes/204213617/composite WDC +0.92% and Zendesk Inc. , among others.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 98.87
-0.01 -0.01%
Volume: 6.66M
Nov. 25, 2022 1:10p
P/E Ratio
57.39
Dividend Yield
0.00%
Market Cap
$180.25 billion
Rev. per Employee
$435,379
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/zigman2/quotes/200774077/composite
US : U.S.: NYSE
$ 76.77
-0.16 -0.21%
Volume: 1.39M
Nov. 25, 2022 1:10p
P/E Ratio
33.48
Dividend Yield
2.45%
Market Cap
$64.12 billion
Rev. per Employee
$524,882
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/zigman2/quotes/204659678/composite
US : U.S.: Nasdaq
$ 151.05
+0.93 +0.62%
Volume: 1.48M
Nov. 25, 2022 1:00p
P/E Ratio
123.64
Dividend Yield
N/A
Market Cap
$187.93 billion
Rev. per Employee
$1.07M
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/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 93.41
-0.72 -0.76%
Volume: 35.09M
Nov. 25, 2022 1:00p
P/E Ratio
85.78
Dividend Yield
N/A
Market Cap
$952.94 billion
Rev. per Employee
$312,308
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/zigman2/quotes/230726939/composite
US : U.S.: Nasdaq
$ 29.53
-0.18 -0.61%
Volume: 3.91M
Nov. 25, 2022 1:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.20 billion
Rev. per Employee
$100,652
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/zigman2/quotes/203822527/composite
US : U.S.: NYSE
$ 44.63
+0.02 +0.04%
Volume: 2.03M
Nov. 25, 2022 1:10p
P/E Ratio
18.73
Dividend Yield
N/A
Market Cap
$32.71 billion
Rev. per Employee
$787,195
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/zigman2/quotes/203136605/composite
US : U.S.: Nasdaq
$ 392.47
-3.38 -0.85%
Volume: 861,769
Nov. 25, 2022 1:00p
P/E Ratio
54.17
Dividend Yield
0.79%
Market Cap
$110.63 billion
Rev. per Employee
$735,607
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/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 247.49
-0.09 -0.04%
Volume: 9.20M
Nov. 25, 2022 1:00p
P/E Ratio
26.67
Dividend Yield
1.10%
Market Cap
$1844.91 billion
Rev. per Employee
$918,891
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/zigman2/quotes/204213617/composite
US : U.S.: Nasdaq
$ 37.34
+0.34 +0.92%
Volume: 1.22M
Nov. 25, 2022 1:00p
P/E Ratio
12.87
Dividend Yield
0.00%
Market Cap
$11.86 billion
Rev. per Employee
$268,892
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