Activist investor Loeb exits Apple stake, buys into Snap and HPE: Filing
Dan Loeb's Third Point exited its position in Apple and bought shares of Snap and Hewlett Packard Enterprise in the first quarter, according to a SEC filing Friday.

The hedge fund also added positions in T-Mobile , Salesforce.com , Qualcomm , Celanese and Pioneer Natural Resources .

Third Point closed positions in Molson Coors Brewing, Union Pacific, and a small stake in Goldman Sachs , among others. The fund reduced its holdings in Bank of America and JPMorgan Chase .

In the fourth quarter of last year, hedge funds bought financial stocks in a bet that President Donald Trump's proposed tax reform and deregulation would benefit the industry.

However, traders are increasingly worried that tax reform may be delayed. Information technology has overtaken financial stocks as the best performer in the S&P 500 since the election.

Third Point returned just 5.9 percent in the first quarter, slightly below the S&P 500's return.

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