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

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 +0.21% , 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 -0.73% , and nearly half a million shares of T-Mobile /zigman2/quotes/204659678/composite TMUS -1.46% .

The hedge fund got rid of its Amazon.com /zigman2/quotes/210331248/composite AMZN -4.41% and Rivian /zigman2/quotes/230726939/composite RIVN -3.88% holdings, as well as its Dell Technologies Inc. /zigman2/quotes/203822527/composite DELL -0.73% , Intuit Inc. /zigman2/quotes/203136605/composite INTU -3.67% and Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -0.39% positions.

Third Point also sold off all its stakes in Western Digital Corp. /zigman2/quotes/204213617/composite WDC -2.65% and Zendesk Inc. , among others.

/zigman2/quotes/203410047/composite

Add to watchlist DIS

Walt Disney Co.

US : U.S.: NYSE

$ 82.73

+0.17 +0.21%

Volume: 14.38M

Sept. 21, 2023 4:02p

P/E Ratio

67.18

Dividend Yield

0.00%

Market Cap

$150.86 billion

Rev. per Employee

$392,277

/zigman2/quotes/200774077/composite

Add to watchlist CL

Colgate-Palmolive Co.

US : U.S.: NYSE

$ 73.22

-0.54 -0.73%

Volume: 3.32M

Sept. 21, 2023 4:00p

P/E Ratio

40.83

Dividend Yield

2.62%

Market Cap

$60.98 billion

Rev. per Employee

$552,544

/zigman2/quotes/204659678/composite

Add to watchlist TMUS

T-Mobile US Inc.

US : U.S.: Nasdaq

$ 139.99

-2.08 -1.46%

Volume: 4.30M

Sept. 21, 2023 4:00p

P/E Ratio

27.83

Dividend Yield

N/A

Market Cap

$167.14 billion

Rev. per Employee

$1.11M

/zigman2/quotes/210331248/composite

Add to watchlist AMZN

Amazon.com Inc.

US : U.S.: Nasdaq

$ 129.33

-5.96 -4.41%

Volume: 70.34M

Sept. 21, 2023 4:15p

P/E Ratio

102.85

Dividend Yield

N/A

Market Cap

$1388.12 billion

Rev. per Employee

$349,154

/zigman2/quotes/230726939/composite

Add to watchlist RIVN

Rivian Automotive Inc. Cl A

US : U.S.: Nasdaq

$ 21.53

-0.87 -3.88%

Volume: 20.03M

Sept. 21, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$21.24 billion

Rev. per Employee

$211,089

/zigman2/quotes/203822527/composite

Add to watchlist DELL

Dell Technologies Inc. Cl C

US : U.S.: NYSE

$ 68.44

-0.50 -0.73%

Volume: 3.92M

Sept. 21, 2023 4:00p

P/E Ratio

26.50

Dividend Yield

N/A

Market Cap

$50.15 billion

Rev. per Employee

$702,714

/zigman2/quotes/203136605/composite

Add to watchlist INTU

Intuit Inc.

US : U.S.: Nasdaq

$ 504.37

-19.22 -3.67%

Volume: 1.73M

Sept. 21, 2023 4:00p

P/E Ratio

59.86

Dividend Yield

0.71%

Market Cap

$146.74 billion

Rev. per Employee

$789,451

/zigman2/quotes/207732364/composite

Add to watchlist MSFT

Microsoft Corp.

US : U.S.: Nasdaq

$ 319.53

-1.24 -0.39%

Volume: 35.56M

Sept. 21, 2023 4:00p

P/E Ratio

32.99

Dividend Yield

0.85%

Market Cap

$2383.25 billion

Rev. per Employee

$958,891

/zigman2/quotes/204213617/composite

Add to watchlist WDC

Western Digital Corp.

US : U.S.: Nasdaq

$ 44.44

-1.21 -2.65%

Volume: 3.86M

Sept. 21, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$14.69 billion

Rev. per Employee

$232,415