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Hedge fund billionaire Dan Loeb bought a bunch of Facebook

Daniel S. Loeb, founder of Third Point LLC. REUTERS/Steve Marcus

Third Point LLC, the hedge fund led by Daniel Loeb, snapped up a large stake in Facebook during the second quarter.

According to the fund’s 13-F filing, Third Point bought 3,750,000 shares of Facebook (FB), a position valued at $428,550,000 at the end of the quarter. The social network is among the fund’s top long equity holdings.

Other new positions taken during the second quarter include Charter Communications (CHTR), Monsanto (MON), Sherwin-Williams (SHW), and Shire (SHPG).

Third Point exited its position in Amgen (AMGN). The fund also cut back its stakes in Alphabet (GOOGL) and Dow Chemical (DOW).

Hedge funds are only required to disclose their long stock holdings in 13-Fs. They do not show their short positions. What’s more is these filings come out 45 days after the end of each quarter.

Julia La Roche is a finance reporter at Yahoo Finance.

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