Third Point takes new positions in tech stocks, trims earlier losses

BOSTON (Reuters) – Daniel Loeb’s hedge fund Third Point LLC took new positions in technology companies including Alibaba and Amazon and reported strong returns in the second quarter after he took back the reins as sole chief investment officer in May.

The billionaire investor who founded Third Point a quarter century ago also told clients in a letter seen by Reuters that he bought a stake in The Walt Disney Company where streaming services are creating the company’s “biggest market opportunity ever.”

(Reporting by Svea Herbst-Bayliss; Editing by Chris Reese)