Third Point Buys Stakes in Facebook, Charter; Trims Baxter, DowBy
Stake in Facebook worth $428.6 million at second quarter’s end
Firm divests holdings in Amgen valued at $449.8 million
The New York fund bought 3.75 million shares in Facebook worth $428.6 million as of June 30, according to a filing with the U.S. Securities and Exchange Commission. Third Point took a position in Charter Communications worth $331.5 million and Monsanto valued at $206.8 million at the end of the quarter.
The hedge fund trimmed investments in its biggest holdings, Baxter International Inc., Allergan Plc and Dow Chemical Co., while divesting a stake in Amgen Inc., which was worth $449.8 million at the end of the first quarter.
Money managers who oversee more than $100 million in U.S. equities must file a Form 13F within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges, as well as options and convertible debt. The filings don’t show non-U.S. traded securities or wagers against stocks.