Third Point Adds To Yahoo! Investment

Jul 26 2012 | 11:51am ET

Third Point liked Yahoo! before it won three of its board seats and the head of its CEO and founder. Now that it's got those seats, it can't get enough of the Internet company.

The New York-based activist hedge fund bought another 2.5 million shares in the second quarter; the hedge fund had already added 14.5 million shares to its now 73 million share stake in the first quarter.

Third Point now owns about $1.1 billion in Yahoo! shares, which is its largest investment and which accounts for about 6% of the company's outstanding shares.

In May, Third Point won three board seats and the resignation of Yahoo! CEO Scott Thompson, who the hedge fund had hounded over his allegedly fudged academic credentials. Thompson was replaced this month by Marissa Mayer, a former Google Inc. executive.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note