Billionaire Dan Loeb of Third Point Dumped Nvidia, Broadcom, and Meta, but Increased His Stake in This Virtual Monopoly by Almost 500%

You might not realize it, but one of the most important data releases of the quarter occurred last week — and I’m not talking about the monthly inflation report. Aug. 14 marked the deadline for institutional investors, including well-known billionaire money managers like Third Point’s Dan Loeb, to file Form 13F with regulators.

A 13F provides a snapshot of which stocks Wall Street’s brightest money managers bought and sold in the latest quarter. Loeb was a busy bee in the second quarter, sending artificial intelligence (AI) superstars Nvidia (NASDAQ: NVDA), Broadcom (NASDAQ: AVGO), and Meta Platforms (NASDAQ: META) to the chopping block. However, he continued to pile into a company that’s a virtual monopoly, Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG).

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