The hedge fund built a $265 million bet in Bath & Body Works, making the retailer its sixth biggest holding at the end of the third quarter.
Daniel Loeb's Third Point disclosed new positions in retailers Bath & Body Works and TJX Companies in the third quarter, a new regulatory filing showed. The hedge fund built a $265 million bet in Bath & Body Works, making the retailer its sixth biggest holding at the end of the third quarter, the filing showed. The stake in TJX, the parent of T.J. Maxx and Marshalls, was smaller, worth $108.7 million at the end of September.
previously reported that Loeb sees hidden value in Colgate's subsidiary, Hill's Pet Nutrition, a pet food company, if it were spun off. The hedge fund manager was also involved in a merger arbitrage play. Loeb took a $241 million stake on Twitter last quarter, betting that Elon Musk's takeover deal would come through. Loeb also significantly increased his position in Disney last quarter.
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