Third Point, a well-known hedge fund on Wall Street, released its latest quarterly report.

In the first quarter of this year, the hedge fund, founded by prominent activist investor Dan Loeb, reduced its holdings in Palantir, the Silicon Valley big data analytics company that caught fire last year, and a large number of large technology stocks, and bet heavily on a newly listed company, according to the documents.

Specifically:

The first quarter of this yearLoeb reduced his holdings of 2.357 million Palantir shares.The company's shares have fallen nearly 13 per cent so far this year as investors switch to stocks that rely on economic recovery, according to the data.

At the same time, Loeb also reduced his holdings in Alphabet, Amazon and Facebook Inc, emptying his positions in Pinterest (photo sharing site), Adobe Inc, Salesforce.com Inc (customer relationship management provider), BABA, Nike Inc and US version of ele.me DoorDash.

Judging from the increase of holdingsIn the first quarter of this year, Loeb increased its holdings of Paysafe and Microsoft.

Among them, the one who bought the most was Paysafe.

In the first quarter, Loeb added 41.5 million Paysafe shares, making Paysafe its fifth largest position.

It is reported that Paysafe is a British payment company. In the first quarter of this year, the company went public through a special purpose acquisition company.

In a letter to investors earlier this month, Loeb said its flagship fund rose 11 per cent in the first quarter of this year, outperforming the s & p 500.

A large part of its excellent performance is due to its largest position, Upstart.

Upstart was the best performing company in the first quarter of Loeb's holdings.

About six years ago, Loeb invested in Upstart at a valuation of $145 million. Since December, the artificial intelligence lender IPO has held about 13.3 million shares worth about $1.7 billion.