A document sent to the SEC late Wednesday night showed that Daniel Loeb’s Third Point hedge fund has invested more in stocks of big tech companies.
As of March 31, Third Point increased its holdings in Amazon.com Inc. (AMZN, -0.58%) by more than 20% and in Meta Platforms Inc. (META, +2.05%) by more than 6%. On Microsoft Corp. MSFT, +1.75%, it got a little brighter, though.
It also said that it had placed a new bet on Marvell Technology Inc. MRVL, +3.13% and other companies. The filing also shows the new Alphabet Inc. GOOGL, +1.27% GOOG, +1.13% stake that the fund told shareholders about earlier this month in a letter. In that letter, the fund said it would buy the stock when it was cheap.
The hedge fund bought more Apollo Global Management Inc. APO, +4.03% shares, which is more than 11% more. A movie theater chain called Cinemark Holdings Inc. CNK, -0.27% and the investment bank Goldman Sachs Group Inc. GS, +1.66% were among its non-tech new stakes.
Third Point gave up its shares in a number of companies, including Biomarin Pharmaceutical Inc. BMRN, +0.94% and U.S. Steel Corp. X, +0.61%.