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Third Point takes stake in Buffett-backed Snowflake

10/05/2020 | 01:34pm EST

Oct 5 (Reuters) - 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. (Reporting by Svea Herbst-Bayliss and Ayanti Bera in Bengaluru; Editing by Maju Samuel)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
PINTEREST, INC. 3.41% 69.72 Delayed Quote.274.03%
SNOWFLAKE INC. 8.50% 328.79 Delayed Quote.0.00%
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