Third Point takes stake in Buffett-backed Snowflake

Industry:    2020-10-06

Billionaire investor and hedge fund owner Daniel Loeb told clients that one of his portfolios nursed small losses last month but was helped by positions in Snowflake Inc and Pinterest Inc, two fast-growing technology companies.

The Third Point Offshore Fund is now up 3.6% for the year after slipping 0.7% in September following a gain of 8.4% in August.

Loeb recently overhauled the portfolio to include more tech names, a move that helped wipe away the year’s losses.

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