Insider Monkey published an article on Billionaire Dan Leob’s Top 10 Stock picks. Loeb is a hedge fund manager who founded Third Point Management back in 1995. The hedge fund focuses on the companies’ inefficiencies and forces management to improve their performances to enhance their potential and increase both productivity and revenue.
Here are Billionaire Dan Leob’s Top 10 Stock Picks.
Intuit is a consistent company in its growth and is always seeking to be a high-quality business. They are known for their software products that are primarily used in accounting and finance. As of the last 12 months, their stock prices have been up by 12%. The stock of Burlington Stores, a major department store company, peaked in Q4 of 2020 by 3.4%; overall, they had a stock increase of 144% even without a strong presence in e-commerce amidst the pandemic.
Alphabet, the parent company of Google, was the best performing stock of 2020, returning 30.9% and increasing shares by 19%. Loeb slashed his stakes in Amazon by almost 30%; they currently. own 145,000 shares in which amounts to nearly $472.25
Charter Communications Inc.’s revenue increased by 7% in 2020, and Third Point Management owns 750,000 worth $496.16 million. The stocks of Upstart, a company that uses AI, were up by 52% over the last 12 months. Third Point also has almost 750,000 shares in the company.
The revenue of IAA, Inc., a company that provides auction solutions for low-value vehicles, jumped up by 7.8% at $383.5 million. Third Point currently owns 9.9 million shares. Danaher is one of the most significant industrial conglomerates globally, and their stock was up by 70% in the past 12 months.
Disney is coming in strong with its new streaming business, which competes with Amazon Prime and Netflix. However, it is projected that their shares might fall drastically and then rise swiftly too, declining by 45% then up by 129%.
The company that tops Leob’s list would be The Pacific Gas and Electric Company, or PG&E Corp. Their stocks were up by 31% over the last 12 months, and their revenue jumped by 7.8% to almost $18.47 billion. Third Point is the most significant stakeholder in PG&E Corp. with 84.9 million shares.
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