Activist investor Dan Loeb‘s Third Point LLC has significantly ramped up its stakes in Flutter Entertainment ( FLUT ) , Elon Musk’s Tesla Inc. ( TSLA ) , and Mark Zuckerberg’s Meta Platforms Inc. ( META )  during the final quarter of 2024.

What Happened: According to recent 13F filings, Third Point acquired nearly $91 million worth of Flutter shares, marking a 70% surge in its position. This strategic move positioned the sports betting stock as the fund’s 10th largest holding, valued at nearly $225 million, as per InsiderScore data.

The investment in Flutter paid off for Loeb, with the company’s shares witnessing a near 9% rise in the fourth quarter. The stock has maintained its positive momentum in 2025, ending Friday’s session at a record high with a 15% increase.

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Loeb also bolstered his stake in Zuckerberg’s Meta, the parent company of Facebook, by 22%. This augmentation, totaling over $70.4 million, elevated the total investment to more than $389 million. Meta now stands as the fourth largest holding in Third Point’s portfolio and is the only one among the top five to experience net buying during the quarter.

This marks a significant turnaround for Loeb, who had previously slashed his Meta holding by over 50% in the third quarter of 2024. Meta concluded the fourth quarter with a slight increase of over 2%, marking its eighth consecutive winning quarter. The tech behemoth has soared nearly 23% so far this year.

However, not all tech stocks were favored by Third Point in the last quarter of 2024. The hedge fund trimmed its stake in Microsoft ( MSFT ) by 31% and in Amazon ( AMZN ) by nearly 7%. It also sold its entire stake in Apple ( AAPL ). MSFT closed 1% higher in the final quarter of 2024 but is down over 2% year-to-date. Meanwhile, AMZN surged 23% last quarter and has gained nearly 4% so far in 2025.

Dan Loeb‘s Mag 7 Holdings

Why It Matters: The billionaire investor has expressed optimism for a more favorable stock investing environment by 2025, despite the unconventional policy-making approach of the Trump administration, reported Reuters.

Loeb anticipates a surge in M&A activity this year as regulatory and government hurdles ease, prompting banks to offload more consumer and mortgage portfolios. Third Point aims to capitalize on these opportunities, focusing on high single-digit unlevered yields.

Loeb’s hedge fund, Third Point, has begun reaping the benefits of this forecast, with its flagship TP offshore fund experiencing a 2.7% increase as of February. 12, following a 25.5% surge last year, according to data from Benzinga Pro.

Third Point, known for its diverse strategies including stock picking, activist campaigns, and credit investments, is one of the most closely watched hedge funds on Wall Street.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.