Third Point Builds Passive Stakes in Pinterest, Snowflake

(Bloomberg) -- Dan Loeb’s Third Point has built new positions in online marketplace Pinterest Inc. as well as software company Snowflake Inc., which went public last month, according to the firm’s monthly report to investors.

Both companies were listed among Third Point’s monthly winners in September. The firm reported a loss of 0.7% last month. Year to date, Third Point has returned 3.6%, including gains of 11.7% in the third quarter, the report shows.

Both Pinterest and Snowflake are passive investments, according to a person familiar with the matter, who asked not to be identified because the matter was private. Third Point had previously held a position in Pinterest last year, according to data compiled by Bloomberg.

Among Loeb’s other winners for the month were PG&E Corp., and Danaher Corp. The monthly losers included Prudential Plc., which in August said it planned spin off a stake in Jackson National Life Insurance Co. The monthly losers also included Amazon.com Inc., the Walt Disney Co., Salesforce.com Inc., and Global Blue Group Holding AG, which went public in August through a merger with a blank-check company sponsored by Third Point.

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