Breaking News

Loeb's Third Point shows new stakes in Wynn Resorts, United Technology, increases to Facebook

Activist investor Dan Loeb's Third Point LLC acquired stakes in embattled Wynn Resorts Ltd. WYNN, -Zero.37% and United Technologies Corp. UTX, -Zero.34% all the way through the second quarter, in step with regulatory filings on Tuesday. Hedge fund Third Point showed that it bought 7.1 million shares of United Tech worth about $893 million and 1.54 million shares of Wynn for approximately $280 million, in step with filing tracker Whalewisdom.com. Meanwhile, Loeb sold his complete more or less 1.nine million share place in health-care supplier Aetna Inc. AET, -Zero.40% and larger his stake in Facebook Inc. FB, -1.24% to 4 million shares, adding 600,000 shares within the first three months of the year, in step with filings. Facebook represents about 4.eight% of Loeb's holdings, United Tech represents 6.7% of the fund's overall holdings, whilst Wynn makes up about 2.1%. The activist's purchase of Wynn came amid a file by the Wall Street Journal that alleged sexual conduct by the gaming corporate's founder and namesake Steve Wynn, which ultimately led to him stepping down. Meanwhile, Loeb upped his stake in Facebook all the way through the Cambridge Analytica scandal targeted at the social community's mishandling of consumer data. Large buyers must reveal long stock positions held on the end of a quarter 45 days later in a 13F filing with the Securities and Exchange Commission. The filings simplest show long investments and since they are not on time don't indicate if the investor exited the location at some point all the way through the reporting period.