Billionaire Dan Loeb Doubles Down On These 2 Stocks

Billionaire Dan S. Loeb is the founder of Third Point and is renowned for his bold activist strategies that challenge the status quo and drive transformation in global companies.

In the fourth quarter of 2024, renowned hedge fund manager Loeb significantly increased stakes in several companies, including more than doubling Third Point’s holdings in Intercontinental Exchange Inc. ICE and CRH PLC CRH, according to quarterly 13F filings.

ICE: Intercontinental Exchange operates exchanges, including the New York Stock Exchange, and clearing houses that enable investment, capital raising, and risk management across various asset classes.

Read: ICE’s Resilient Business Model and Technological Advancements Drive an Outperform Rating – Here’s Why

Loeb added 1.08 million shares in the third quarter at an average price of $148.77, bringing the total to 2.08 million shares.

This represents a 108.5% increase in share count from Q2, with a total portfolio value of $334.93 million.

Third Point revealed its stake in a 13F filing in November. The stock has declined about 5.7% in the last month.

Meanwhile, the capital market sector, as measured by the SPDR S&P Capital Markets ETF KCE, has declined roughly by 4.29% in the last month.

In the third quarter, the company’s adjusted EPS of $1.55 was in line with the consensus expectations, while sales of $2.349 billion were slightly below the $2.354 billion estimate.

Also Read: Big Changes At Building Products Company CRH: CEO Albert Manifold Set To Retire, CFO Jim Mintern Gears Up To Lead In 2025

CRH: The company provides building materials solutions and has leadership positions in both North America and Europe. 

Loeb added 1.40 million shares at an average price of $83.86 in the third quarter, raising the total count to 2.05 million shares.

This marks a 215.38% increase in share count, with a total value of $190.12 million.

CRH shares have dipped around 7.8% compared to First Trust RBA American Industrial Renaissance ETF‘s AIRR decline of 7.9% in the past month.

The company’s third-quarter results missed analyst consensus, with adjusted EPS of $1.97 coming below the consensus of $2.09 and sales of $10.515 billion falling short of the street view of $10.56 billion.

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Image created using artificial intelligence via Midjourney.