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 +0.76% , 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 -0.49% , and nearly half a million shares of T-Mobile /zigman2/quotes/204659678/composite TMUS -0.56% .

The hedge fund got rid of its Amazon.com /zigman2/quotes/210331248/composite AMZN +1.84% and Rivian /zigman2/quotes/230726939/composite RIVN -2.55% holdings, as well as its Dell Technologies Inc. /zigman2/quotes/203822527/composite DELL -1.74% , Intuit Inc. /zigman2/quotes/203136605/composite INTU +1.34% and Microsoft Corp. /zigman2/quotes/207732364/composite MSFT +1.92% positions.

Third Point also sold off all its stakes in Western Digital Corp. /zigman2/quotes/204213617/composite WDC -0.35% and Zendesk Inc. , among others.

/zigman2/quotes/203410047/composite

Add to watchlist DIS

Walt Disney Co.

US : U.S.: NYSE

$ 81.67

+0.62 +0.76%

Volume: 9.13M

Oct. 2, 2023 4:02p

P/E Ratio

66.32

Dividend Yield

0.00%

Market Cap

$148.10 billion

Rev. per Employee

$392,277

/zigman2/quotes/200774077/composite

Add to watchlist CL

Colgate-Palmolive Co.

US : U.S.: NYSE

$ 70.76

-0.35 -0.49%

Volume: 2.63M

Oct. 2, 2023 4:00p

P/E Ratio

39.45

Dividend Yield

2.71%

Market Cap

$58.79 billion

Rev. per Employee

$552,544

/zigman2/quotes/204659678/composite

Add to watchlist TMUS

T-Mobile US Inc.

US : U.S.: Nasdaq

$ 139.26

-0.79 -0.56%

Volume: 2.94M

Oct. 2, 2023 4:00p

P/E Ratio

27.69

Dividend Yield

1.87%

Market Cap

$164.76 billion

Rev. per Employee

$1.11M

/zigman2/quotes/210331248/composite

Add to watchlist AMZN

Amazon.com Inc.

US : U.S.: Nasdaq

$ 129.46

+2.34 +1.84%

Volume: 48.03M

Oct. 2, 2023 4:00p

P/E Ratio

102.95

Dividend Yield

N/A

Market Cap

$1304.30 billion

Rev. per Employee

$349,154

/zigman2/quotes/230726939/composite

Add to watchlist RIVN

Rivian Automotive Inc. Cl A

US : U.S.: Nasdaq

$ 23.66

-0.62 -2.55%

Volume: 49.56M

Oct. 2, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$23.03 billion

Rev. per Employee

$211,089

/zigman2/quotes/203822527/composite

Add to watchlist DELL

Dell Technologies Inc. Cl C

US : U.S.: NYSE

$ 67.70

-1.20 -1.74%

Volume: 3.90M

Oct. 2, 2023 4:00p

P/E Ratio

26.22

Dividend Yield

N/A

Market Cap

$49.84 billion

Rev. per Employee

$702,714

/zigman2/quotes/203136605/composite

Add to watchlist INTU

Intuit Inc.

US : U.S.: Nasdaq

$ 517.80

+6.86 +1.34%

Volume: 1.62M

Oct. 2, 2023 4:00p

P/E Ratio

61.46

Dividend Yield

0.70%

Market Cap

$143.20 billion

Rev. per Employee

$789,451

/zigman2/quotes/207732364/composite

Add to watchlist MSFT

Microsoft Corp.

US : U.S.: Nasdaq

$ 321.80

+6.05 +1.92%

Volume: 20.57M

Oct. 2, 2023 4:00p

P/E Ratio

33.23

Dividend Yield

0.93%

Market Cap

$2345.95 billion

Rev. per Employee

$958,891

/zigman2/quotes/204213617/composite

Add to watchlist WDC

Western Digital Corp.

US : U.S.: Nasdaq

$ 45.47

-0.16 -0.35%

Volume: 2.58M

Oct. 2, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

0.00%

Market Cap

$14.69 billion

Rev. per Employee

$232,415