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Dan Loeb’s latest portfolio flex
When a billionaire hedge fund manager files a 13F, Wall Street treats it a bit like peeking at someone’s group chat: you don’t get the whole story, but you do get enough to spot the drama. And in Third Point’s latest filing, Dan Loeb apparently hit the eject button on Nvidia, Broadcom, and Meta — while giving his Alphabet position a much bigger hug.
Why Alphabet got the glow-up
The headline is the size of the move. Third Point increased its stake in Alphabet by almost 500%, which is the kind of number that makes you double-check your calculator and wonder what Loeb sees that everyone else is missing. Maybe it’s the ad machine. Maybe it’s the cash pile. Maybe it’s the AI angle. Probably a little of all three.
For shareholders, the takeaway is less “copy this trade blindly” and more “smart money is still finding reasons to like Google.” In a market where investors are obsessing over AI capex, margins, and whether mega-cap tech can keep sprinting without face-planting, a giant vote of confidence can matter.
The bigger picture
The rest of the filing is almost as interesting as the Alphabet move itself:
- Third Point dumped or reduced positions in some of the hottest AI and megacap names
- It chose to concentrate more capital in Alphabet instead of spreading the love
- That suggests Loeb thinks Alphabet has a better risk-reward setup than the crowded consensus trades
Big picture: hedge fund filings are backward-looking, not crystal balls. But when a billionaire rotates out of one set of tech heavyweights and into Alphabet with both hands, investors tend to pay attention.