Third Point’s Dan Loeb ups stake in gambling stock and is accumulating Meta again

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Third Point’s Dan Loeb ups stake in gambling stock and is accumulating Meta again

Dan Loeb’s Third Point poured tens of millions of dollars into Flutter Entertainment and Meta Platforms in the fourth quarter of last year, regulatory fillings show. The hedge fund manager and famous investor bought nearly $91 million worth of Flutter shares, equating to an increase of more than 70% to his position, according to Third Point’s 13-F filing with the Securities and Exchange Commission. With that move, the sports betting stock was now the fund’s 10th largest holding at almost $225 million, per InsiderScore. Loeb’s bet paid off, with shares jumping almost 9% in the fourth quarter. The stock has risen more than 15% in 2025 and closed Friday’s session at an all-time high. Elsewhere, he grew his stake in

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parent Meta Platforms by 22%, or more than $70.4 million, to above $389 million. It’s now the fourth largest holding in the fund — and the only name in the top five to see net buying during the quarter, according to InsiderScore. That marks a turn for Loeb, who has slashed his Meta holding by more than 50% during the third quarter of 2024. META FLUT 1Y mountain Meta and Flutter, 1-year Meta finished the fourth quarter higher by slightly over 2%, marking its eighth straight winning quarter. The megacap tech giant has surged more than 25% in the new year, which is good news after Loeb’s big buy. To be sure, not all tech plays felt the love during the final quarter of 2024. Loeb cut 31% from his

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stake and nearly 7% from his

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position.

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#Points #Dan #Loeb #ups #stake #gambling #stock #accumulating #Meta

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