Dan Loeb grew up in southern California in the 1970s, so it’s safe to assume that spent a fair amount of time in shopping malls. But the landscape of Loeb’s youth is dying, inspiring more elegies than store openings these days. But Loeb, he’s just not ready to let go, and he thinks he’s not alone. Plus he probably thinks he knows how to fix it.
Dan Loeb’s Third Point disclosed a position in mall-owner Macerich Co., the real estate investment trust whose shares have come under pressure as traditional retailers battle online rivals…. Third Point disclosed a new 1.3 percent position in Macerich in a regulatory filing Thursday after Bloomberg first reported the stake.
In the third quarter, Dan Loeb's Third Point hedge fund made new investments in Macerich, a real estate investment trust for mall properties, oil refiner and seller Marathon Petroleum and Ohio-based payments processor Vantiv, according to a required quarterly filing released Thursday.
The hedge fund also increased its bet on growth-sensitive industrial stocks by adding a stake in Dover and raising its investment in Vulcan Materials….
Thursday's filing also showed Loeb's Third Point fund bought new stakes in Argentina-based financial services companies Grupo Financiero Galicia and Grupo Supervielle. Loeb also increased his holdings of China's e-commerce giant Alibaba.