In the third quarter, Third Point sold out of 11 stocks, reducing its position to 12 stocks turning over approximately 38% of its portfolio, indicating a strategic shift.
The hedge fund sold a total of $1.39 billion of Mag 7 stocks during the third quarter, highlighting a trend among billionaires moving away from these high-profile investments.
Alphabet led the charge, with the hedge fund selling 1.98 million shares, closing its position, which reflected a significant reduction from 4.13% at the end of June.
Three of the top 10 holdings are Magnificent Seven stocks, showing that while the fund has divested many assets, it still sees value in select tech investments.
Collection
[
|
...
]