Dan Loeb’s Third Point Cuts Nvidia, Broadcom, and Meta While Boosting Investment in Virtual Dominance by Nearly 500%

Key Points

• Dan Loeb’s Third Point fund filed its Form 13F on August 14, reflecting significant stock activities.

• Loeb sold 190,000 shares of Nvidia, 50,000 shares of Broadcom, and 90,000 shares of Meta Platforms in the second quarter.

• Conversely, he increased his stake in Alphabet by 489%, purchasing 850,000 shares.

Dan Loeb, billionaire investor and head of Third Point, filed his quarterly Form 13F on August 14, revealing a major shift in his stock portfolio for the second quarter. Notably, he sold all 190,000 shares of Nvidia, 50,000 shares of Broadcom, and 90,000 shares of Meta Platforms, likely due to profit-taking, as he typically holds stocks for around nine months.

Meanwhile, Loeb ramped up his investment in Alphabet, acquiring 850,000 shares of its Class A stock, boosting his position by 489%. Alphabet commands over 91% of worldwide internet search traffic and reported a staggering 82% revenue growth in its Google Cloud segment in the second quarter. This strategic shift reflects the growing market confidence in Alphabet amid its expanding AI initiatives.