Third Point Investors Limited (TPNTF)
- GuruFocus.com
Daniel Loeb's Strategic Acquisition of Cinemark Holdings Inc Shares
On May 14, 2024, Third Point LLC, led by Daniel Loeb (Trades, Portfolio), made a significant addition to its investment portfolio by acquiring 2,000,000 shares of Cinemark Holdings Inc (NYSE:CNK). This transaction increased Third Point's total holdings in the company to 7,000,000 shares, marking a substantial investment in the entertainment sector. The shares were purchased at a price of $18.78 each, reflecting a strategic move by the firm amidst the evolving market dynamics.
- Reuters
UPDATE 3-Loeb's Third Point rises 8% in Q1, driven by activist strategy, source says
Billionaire investor Daniel Loeb's hedge fund Third Point ended the first quarter with its main fund Offshore up 8%, while the Ultra fund rose 8.7%, extending last year's gains with successful activist bets, a source familiar with the matter said. Third Point's investment strategies include activism to push companies for changes. The top engines for gains this year included bets on Advance Auto Parts and Bath & Body Works, companies where Loeb and his team pressed for changes that resulted in new board members.
- Reuters
Loeb's Third Point to delve into private credit investing as a 'complement'
Hedge fund manager Daniel Loeb's firm Third Point will invest in private credit this year as it bets on positive conditions for both credit and equity markets in 2024. "We will be adding private credit as a complement to our existing strategies and expect to begin investing in this new sector in the next few months," Loeb wrote to investors in a letter seen by Reuters on Wednesday. Third Point, which invests roughly $10.6 billion in assets, posted a 3.6% gain in 2023.
