Billionaire investor Daniel Loeb runs the New York-based hedge fund Third Point, which he founded in 1995 with an initial capital of $3.4 million. Loeb's activist bets and value-oriented investing strategies helped shape the hedge fund with $7.84 billion in assets under management across 40 securities at the end of Q1 2024. Third Point returned 7.8% in the Offshore Fund in the same quarter.
According to the hedge fund's latest 13F-HR filings for the quarter ended March 31, Loeb appeared to have bulked up his AI stock holdings. He increased his stake in Amazon and Meta Platforms and bought 3 million shares of Alphabet after selling the Google parent's entire stake in Q4 2023. Third Point's position in Alphabet is worth $452.79 million.
