February 8, 2019 / 11:58 PM / in 6 months

Third Point dissolves share stake in United Technologies

(Reuters) - Billionaire investor Daniel Loeb’s Third Point LLC on Friday filed with the U.S. Securities and Exchange Commission showing it had dissolved its share stake in United Technologies Corp, though it was not immediately clear whether the hedge fund may own the same position in the company through derivatives.

A spokeswoman for Third Point declined to comment, in keeping with the hedge fund’s policy of not commenting on its investments.

Loeb has been active in calling for change at United Technologies.

Third Point owned about 8.4 million shares in the company at the end of the third quarter.

13F filings, made four times a year by institutional investment managers, show mainly the investor’s ownership in the common stock of U.S. companies and can sometimes be confusing as they do not show what investment firms may own in terms of derivatives.

Reporting by Shariq Khan in Bengaluru; Editing by Anil D'Silva

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below