Third Point drops stakes in Alibaba, Microsoft and Netflix in fourth quarter


Dan Loeb’s Third Point LLC sold stakes in several high profile companies including Alibaba Group Holdings
BABA, +0.24%
Microsoft Corp.
MSFT, +0.38%
Netflix Inc.
NFLX, +0.83%
and Deere & Co.
DE, +0.59%
while buying into Cigna Corp.
CI, -2.47%
during the fourth quarter, according to a regulatory filing Friday. It also dropped Marathon Oil Corp.
MRO, -0.92%
and WPX Energy Inc.
WPX, -2.70%
from its portfolio and trimmed its investment in American Express Co.
APX, +0.00%
to 2.9 million shares from 5 million in the previous quarter. At the same time, it raised its holding in Campbell Soup Co.
CPB, +0.26%
to 21 million from 18 million as part of its effort to push for a sale of the company. For all of 2018, Third Point had reported losses of 11%, the worst since 2008.


Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

Quote References BABA +0.40 +0.24% MSFT +0.40 +0.38% NFLX +2.86 +0.83% DE +0.95 +0.59% CI -4.59 -2.47% MRO -0.14 -0.92% WPX -0.33 -2.70% APX +0.00 +0.00% CPB +0.09 +0.26% Show all references
MarketWatch Partner Center
Most Popular The stock market dip? Keep buying, says Bank of America Merrill Lynch Dow, S&P 500 bulls faced the most important test of the new year, says analyst Arizona mayor wants ‘lethal’ border wall wire removed — the U.S. military recently installed it How a ‘Fed put’ could leave stock market on path for a ‘late-’90s-style meltup’ Trump Shows Kim Short Video to Pitch Peace During North Korea Summit


(function () { var isSSL = ‘https:’ == document.location.protocol; window.nativeAdsContext = { appId: “CFEAB5E0AC88686BA597A26FB4B54555349E3478”, apikey: “ARAPgnyc0MRHNRr40%2b9oSrfSwlZG5%2bAfMeBkG2%2fh9AatBHngxiuMRHpQ%2bFJ%2fxfgc2iE%3d”, publisherId: “204461”, publisherName: “MarketWatch”, tracingtag: “mw-tracingtag”, msNativeAdsScriptLoc: “//h6.msn.com/nativeads/ms-nativeads.min.js”, pageCategory: “money”, pageType: “articles”, bingTrafficPercent: “100” }; window.bingNACallB