Snowflake gains as Third Point reveals new passive stake

Dan Loeb’s Third Point discloses new positions in Piinterest (NYSE:PINS) and Snowflake (NYSE:SNOW) in its monthly investor newsletter, and Bloomberg sources say the investments are passive.

The companies were both mentioned in Third Point’s list of month-to-date winners, which also included PG&E and Daimler.

Third Point had a position in Pinterest for a short time last year.

Berkshire Hathaway has a roughly 2.2% stake in Snowflake after buying 2.1M shares in the IPO and 4M from a selling shareholder.

Last week, Salesforce reported a 9.9% passive stake in SNOW.

Snowflake shares are up 4.6% to $237.55.