Daniel Loeb (Trades, Portfolio)'s hedge fund, Third Point, recently revealed significant changes in its investment portfolio. During the first quarter, the fund completely exited its positions in electric vehicle manufacturer Tesla and social media giant Meta Platforms. It sold all 500,000 shares of Tesla and 665,000 shares of Meta.
Additionally, Third Point significantly reduced its holdings in Amazon, selling over a million shares, bringing its total to 2.35 million shares. Meanwhile, the fund increased its investment in artificial intelligence chipmaker Nvidia, adding 1.45 million shares to its portfolio.
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