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Dan Loeb Reveals a Long Position in FedEx

Dan Loeb, the manager of Third Point, is a notorious personality in the hedge fund universe, so his words typically have a major effect on the markets. Today, in an interview at the New York Times’ Dealbook conference, Loeb mentioned that he holds shares of FedEx Corporation (NYSE:FDX). While he has not mentioned the size of his position, the stock of FedEx picked up by over 1.9% on the back on the news.

It’s worth mentioning that since a public SEC disclosure has not been made, the stake is likely less than the 5% threshold required for any activism…yet. Loeb’s presence in FedEx may purely be for investment reasons, or he may be planning on expanding his stake in the future. We’ll be watching closely.

Dan Loeb THIRD POINT

 

Disclosure: none

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