Activist Hedge Fund Manager Dan Loeb Reveals 2% Stake in BlackBerry

An activist hedge fund manager has been quietly taking an interest in BlackBerry.

Dan Loeb of Third Point disclosed over the weekend that as of the end of 2013 he owns 10 million shares of the Waterloo-based smartphone maker, which is roughly a 2% stake in the multi-billion-dollar tech firm. This stake makes him among the biggest shareholders of the company.

Fairfax Financial Holdings—which is run by Prem Watsa, who isn't Loeb's biggest fan—is BlackBerry's largest shareholder with a stake in excess of 10%. Watsa sits on the company's board as well, which makes it all the more interesting to see Loeb carve a slice of BlackBerry for his own tasting.

Photo: Bloomberg

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry solution in 1999. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only... more

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