Dan Loeb dumps Yahoo! Inc. (YHOO), buys Verizon Communications Inc. (VZ)

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Dan Loeb’s hedge fund Third Point has sold all 8 million of its shares of Yahoo! Inc. (NASDAQ:YHOO) in Q1, according to a new 13-F regulatory filing. Third Point also sold all 3.25 million shares it held of Abbott Laboratories and all 1.5 million shares it held in Gilead Sciences.

Loeb added 3.5 million shares of Verizon Communications Inc. (NYSE:VZ) to his portfolio during the quarter.

Third Point also increased its existing holding of Liberty Global and T-Mobile, but scaled back positions in FedEx and AIG.

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