Saturday, 27 December 2014
Last updated 2 days ago
Feb 19 2014 | 11:34am ET
Third Point has added new stakes in BlackBerry and T-Mobile US, and may have slashed its investment in Sony Corp.
Third Point's 13-F filing for the fourth quarter shows new positions in BlackBerry, T-Mobile and Hertz Global Holdings. The hedge fund also more than doubled its stake in Nokia Corp.
But Third Point was no longer listed among Sony's top 10 shareholders. Found Daniel Loeb last year launched a campaign to force Sony to partially spin-off its entertainment unit, only to see the company refuse. In the aftermath, Loeb sounded conciliatory, noting that Sony "took our suggestions seriously and acted on them."
That might not have been enough to keep Third Point as an investor: Sony's own fourth-quarter filing does not list Third Point as having a stake of at least 0.96% at the end of last year. At the end of the third quarter, Third Point was listed as owning 1.64% of Sony shares, and claimed to own 7%.
It is not clear whether Third Point sold the shares, or whether it has registered them under a different name.
Third Point did announce that it had halved its stake in Yahoo! in the fourth quarter. Loeb was instrumental in having former Google Inc. executive Marissa Mayer installed as Yahoo!'s CEO, but the internet company has failed to turn its fortunes around.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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