Third Point liquidated its position in Walt Disney Co during the first quarter, two years after the hedge fund first invested and began urging the media company to spend more aggressively on its streaming platform, and slashed its stake in Amazon.com Inc .
RH's stock price has tumbled 48% so far this year while Burlington Stores fell 40%. AES is off 18% this year.
Loeb wrote to shareholders in February that he had increased his bet on Amazon, arguing new management would move the company forward with new initiatives. He did not mention Amazon in the May 6 letter. The S&P 500 is down nearly 16% year-to-date while the tech heavy Nasdaq Composite has tumbled more than 25%.
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