Dan Loeb’s Third Point took new stakes in Chipotle Mexican Grill (CMG), Alibaba (BABA), and Spotify (SPOT), while increasing its position in mortgage lender and real estate services firm Rocket Companies (RKT), among its fourth quarter moves.
The hedge fund declared its position in the latest 13F filing published on Tuesday.
Third Point snapped up 4.73M shares in Chipotle, 3M shares in APi Group (APG), 825K shares in Chinese tech giant Alibaba, and 100K shares in Spotify. The firm also took new stakes in Thermo Fisher Scientific (TMO), ARS Pharmaceuticals (SPRY), and Constellation Energy (CEG), among others.
Meanwhile, it exited positions in companies such as Primo Brands (PRMB), Meta Platforms (META), Core Scientific (CORZ), and Floor & Decor Holdings (FND).
One of the most notable moves during the fourth quarter was Third Point increasing its stake in Rocket Companies (RKT) to 9.52M shares from 4M shares.
The New York-based hedge fund also piled up shares in Union Pacific (UNP) to 1.81M shares from 0.88M and in Nvidia (NVDA) to 2.95M shares from 2.85M shares, respectively.
Lastly, Third Point decreased its stake in PG&E (PCG) from 50.1M shares to 34.3M shares. The hedge fund also reduced its position in Kenvue (KVUE) (3.25M from 9M) and in Norfolk Southern (NSC) from 1.65M shares to 0.98M shares, among some of its fourth-quarter moves.