Dan Loeb's Investment Moves

Introduction

Uber Technologies Inc.

During the second quarter, Third Point LLC acquired 2.78 million shares of Uber Technologies Inc. This new position was valued at $120 million based on closing levels at the end of the quarter.

Amazon.com Inc.

Another notable addition to Third Point's portfolio was Amazon.com Inc. The investment firm purchased 4.1 million shares of Amazon, amounting to a position worth $535 million.

Nvidia Corp.

Third Point LLC also scooped up 500,000 shares of Nvidia Corp., reinforcing their bullish stance on the technology company. The Nvidia position was worth $212 million by the end of the second quarter.

Other Investments

Apart from the above-mentioned companies, Third Point LLC established fresh positions in Fidelity National Information Services Inc. and Taiwan Semiconductor Manufacturing Co. Ltd. They bought 300,000 shares of Fidelity National Information Services and 2.45 million shares of Taiwan Semiconductor Manufacturing Co. Ltd., valued at $16.4 million and $247 million respectively.

The investment firm also added 1.65 million shares of Activision Blizzard Inc., worth $139.1 million, to its portfolio.

Increased Holdings

Third Point LLC increased its holdings in Advanced Micro Devices Inc. by 20%, acquiring 1.2 million shares. This boosted position was valued at $136.7 million.

The investment company also raised its stake in Alibaba Group Holding Ltd. by 122%, purchasing 2.95 million shares worth $245.9 million.

Additionally, Third Point LLC held 1.52 million shares of Microsoft Corp., worth $517.6 million, representing a 45% increase in their share position. They also increased their holdings of Micron by 29%, with 1.55 million shares valued at $97.6 million.

Conclusion

Dan Loeb's Third Point LLC made strategic investment moves during the second quarter, building new positions in notable companies such as Uber Technologies Inc., Amazon.com Inc., and Nvidia Corp. These decisions showcase the firm's confidence in the growth potential of these companies.