Financial & More Economy Third Point’s Dan Loeb Increases Gambling Stock Position, Reinvests in Meta

Third Point’s Dan Loeb Increases Gambling Stock Position, Reinvests in Meta

The decision to buy back Meta's shares came shortly after the company had sold off a portion of its holdings in the social media giant in the previous quarter. This move reflects a strategic shift in investment strategy and indicates confidence in Meta's long-term growth prospects.

Financial & More

15 February 2025 - 14:04

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Third Point’s Dan Loeb Increases Gambling Stock Position, Reinvests in Meta

The decision to reacquire Meta's stock suggests that the company's leadership believes in the value and potential of the social media company, despite any recent fluctuations in the market. This development highlights the dynamic nature of investment decisions and the importance of staying attuned to market trends and opportunities.

Dan Loeb's Third Point made significant investments in Flutter Entertainment and Meta Platforms in the fourth quarter of last year, as revealed by regulatory filings.

Increased Stake in Flutter Entertainment

Third Point, led by hedge fund manager Dan Loeb, purchased nearly $91 million worth of Flutter shares, representing a growth of over 70% in its position, according to the fund's 13-F filing with the SEC.

Successful Bet on Flutter

Following the investment, Flutter Entertainment became the fund's 10th largest holding, valued at around $225 million, as reported by InsiderScore. The move proved profitable, with shares of Flutter rising almost 9% in the fourth quarter and more than 15% in 2025, reaching an all-time high by the end of Friday's trading session.

Expansion of Stake in Meta Platforms

Besides Flutter, Third Point also augmented its investment in Meta Platforms, the parent company of Facebook, by 22%, adding over $70.4 million to bring the total stake above $389 million. Meta Platforms now stands as the fund's fourth largest position, showing a positive net buying trend during the quarter, according to InsiderScore.

Positive Performance of Meta Platforms

Meta Platforms experienced a growth of slightly over 2% in the fourth quarter, marking its eighth consecutive winning quarter. The megacap tech company has surged more than 25% since the beginning of the new year, following Loeb's substantial investment.

Shift in Tech Investments

While Third Point increased its stakes in Flutter and Meta Platforms, not all tech companies received the same level of attention. The fund reduced its Microsoft holdings by 31% and trimmed its Amazon position by nearly 7% during the final quarter of 2024.