Investor Alert

New York Markets Open in:

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

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Walt Disney Co. (DIS)
  • X
    Colgate-Palmolive Co. (CL)
  • X
    T-Mobile US Inc. (TMUS)

or Cancel Already have a watchlist? Log In

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 -2.31% , 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 -3.23% , and nearly half a million shares of T-Mobile /zigman2/quotes/204659678/composite TMUS +0.27% .

The hedge fund got rid of its Amazon.com /zigman2/quotes/210331248/composite AMZN -0.64% and Rivian /zigman2/quotes/230726939/composite RIVN -0.18% holdings, as well as its Dell Technologies Inc. /zigman2/quotes/203822527/composite DELL +0.06% , Intuit Inc. /zigman2/quotes/203136605/composite INTU +1.26% and Microsoft Corp. /zigman2/quotes/207732364/composite MSFT -0.44% positions.

Third Point also sold off all its stakes in Western Digital Corp. /zigman2/quotes/204213617/composite WDC +0.99% and Zendesk Inc. /zigman2/quotes/209571012/composite ZEN +0.99% , among others.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 95.85
-2.27 -2.31%
Volume: 13.36M
Sept. 27, 2022 4:03p
P/E Ratio
55.70
Dividend Yield
0.00%
Market Cap
$178.88 billion
Rev. per Employee
$431,926
loading...
/zigman2/quotes/200774077/composite
US : U.S.: NYSE
$ 72.58
-2.42 -3.23%
Volume: 5.26M
Sept. 27, 2022 4:00p
P/E Ratio
31.49
Dividend Yield
2.59%
Market Cap
$62.85 billion
Rev. per Employee
$523,669
loading...
/zigman2/quotes/204659678/composite
US : U.S.: Nasdaq
$ 132.68
+0.36 +0.27%
Volume: 4.24M
Sept. 27, 2022 4:00p
P/E Ratio
96.88
Dividend Yield
N/A
Market Cap
$165.93 billion
Rev. per Employee
$1.07M
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 114.41
-0.74 -0.64%
Volume: 60.09M
Sept. 27, 2022 4:00p
P/E Ratio
102.39
Dividend Yield
N/A
Market Cap
$1173.10 billion
Rev. per Employee
$302,178
loading...
/zigman2/quotes/230726939/composite
US : U.S.: Nasdaq
$ 33.79
-0.06 -0.18%
Volume: 11.48M
Sept. 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$31.02 billion
Rev. per Employee
$49,319
loading...
/zigman2/quotes/203822527/composite
US : U.S.: NYSE
$ 34.72
+0.02 +0.06%
Volume: 3.31M
Sept. 27, 2022 4:00p
P/E Ratio
5.01
Dividend Yield
N/A
Market Cap
$25.43 billion
Rev. per Employee
$814,316
loading...
/zigman2/quotes/203136605/composite
US : U.S.: Nasdaq
$ 400.77
+4.97 +1.26%
Volume: 1.62M
Sept. 27, 2022 4:00p
P/E Ratio
55.31
Dividend Yield
0.78%
Market Cap
$111.56 billion
Rev. per Employee
$735,607
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 236.41
-1.04 -0.44%
Volume: 27.02M
Sept. 27, 2022 4:00p
P/E Ratio
24.51
Dividend Yield
1.15%
Market Cap
$1770.88 billion
Rev. per Employee
$897,149
loading...
/zigman2/quotes/204213617/composite
US : U.S.: Nasdaq
$ 32.72
+0.32 +0.99%
Volume: 3.83M
Sept. 27, 2022 4:00p
P/E Ratio
6.89
Dividend Yield
0.00%
Market Cap
$10.19 billion
Rev. per Employee
$289,123
loading...
/zigman2/quotes/209571012/composite
US : U.S.: NYSE
$ 76.45
+0.75 +0.99%
Volume: 1.92M
Sept. 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$9.35 billion
Rev. per Employee
$258,662
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.