Billionaire Dan Loeb's hedge fund, Third Point LLC, disclosed that it sold off its investments in American Express Co. and Constellation Brands Inc. during the second quarter, while adding to its Netflix Inc. stake. Overall, the value of Third Point's equity holdings declined to $8.54 billion as of June 30 from $8.99 billion as of March 31; the S&P 500 rose 3.8% during the second quarter. Third Point had owned 1.5 million shares of AmEx and 1.05 million shares of Constellation Brands as of March 31.