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.