BOSTON (Reuters) – Billionaire investor Daniel Loeb’s hedge fund made a string of new investments in the knowledge know-how sector, together with shopping for 10.7 million shares of NXP Semiconductors NV, in the course of the second quarter, based on a regulatory filing on Friday.
Hedge fund supervisor Daniel Loeb speaks throughout a Reuters Newsmaker occasion in Manhattan, New York, U.S., September 21, 2016. REUTERS/Andrew Kelly/File Photo
The $18 billion fund additionally stated that NXP turned its second largest place after Baxter International Inc.
The filing additionally confirmed that Third Point purchased 10 million shares of on-line funds firm PayPal Holdings Inc, a new funding which Loeb mentioned in the corporate’s most up-to-date investor letter that got here out in July. He stated the corporate might earn $1 billion of annual income from its social funds platform Venmo.
The filing additionally confirmed that Third Point had already begun trimming its place in Facebook Inc by promoting 1 million shares or 1 / 4 of its holding. The fund exited its whole Facebook place just lately.
During the quarter, Third Point additionally took a new stake in Visa Inc, shopping for 1.7 million shares.
The quarterly filings present what huge funding companies owned on the finish of the earlier quarter and are thought-about backward wanting however they’re nonetheless intently scrutinized for potential funding developments.
Reporting by Svea Herbst-Bayliss