Third Level dissolves stakes in Netflix, Microsoft and Alibaba

Daniel S. Loeb, Third Point

Jacob Kepler/Bloomberg | Getty Pictures

Daniel S. Loeb, Third Level

Daniel Loeb’s Third Level dissolved its stakes in Netflix, Microsoft and Alibaba as of Dec. 31, in keeping with a Friday submitting with the Securities and Alternate Fee.

The hedge fund beforehand held 1.25 million shares of Netflix, 4.1 million shares of Microsoft and 4.05 million shares of Alibaba as of the quarter ended Sept. 30 final 12 months.

In November, Loeb had expressed issues about market circumstances. In a letter to his traders, he mentioned he had trimmed his firm's positions in technology stocks. Within the November submitting, Third Level disclosed it had slashed its place in Netflix by greater than 33 %, however had elevated its place in Microsoft.

Author: Maxwell C.

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