By Claudia Assis
Amazon and Rivian holdings were sold off, filing shows
Activist investor Daniel Loeb's Third Point LLC has bought new stakes in T-Mobile US Inc. and Colgate Palmolive Co. , and sold off holdings on EV maker Rivian Automotive Inc. and Amazon.com Inc., among other investment decisions, according to a filing late Monday.
Third Point earlier Monday disclosed a fresh stake on Walt Disney Co., saying it would seek changes in the media giant.
In a letter to Disney (DIS), the fund, which manages about $14 billion in assets, suggested cost cuts, a continuation of the dividend halt in order to conserve cash, and a spinoff of Disney's ESPN business, among other proposals. Third Point bought 1 million Disney shares in the quarter ended June 30, according to the filing.
Third Point also bought more nearly 1.99 million shares of Colgate Palmolive (CL), and nearly half a million shares of T-Mobile (TMUS).
(END) Dow Jones Newswires
August 15, 2022 18:03 ET (22:03 GMT)
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