Dan Loeb Buys UBS And Google [Full Q1 2023 Investor Letter]
Dan Loeb’s letter to Third Point investors for the first quarter ended March 31, 2023, discussing his new positions in UBS Group AG (NYSE:UBS) and Alphabet Inc (NASDAQ:GOOGL). Dear Investor: During the First Quarter, Third Point returned -4.1% in the flagship Offshore Fund and -4.6% in the Ultra Fund. Assets under management on March 31, 2023, were approximately$12.1 billion. The top five winners for the quarter were Salesforce Inc (NYSE:CRM), Advanced Micro Devices, Inc. (NASDAQ:AMD), LVMH (OTCMKTS:LVMUY), Walt Disney Co (NYSE:DIS), and Microsoft Corp (NASDAQ:MSFT). The top five losers for th...