Billionaire Dan Loeb is Adding These 5 Stocks in his Portfolio

1. CSX Corporation (NASDAQ:CSX)

Third Point’s Stake Value: $213.8 million

Percentage of Third Point’s 13F Portfolio: 2.78%

Number of Hedge Fund Holders: 50

CSX Corporation (NASDAQ:CSX) is an American rail transportation holding company. The company operates over a 19000-mile rail network and owns close to 3500 locomotives. Apart from that, the company also deals in real estate.

In the past decade, CSX Corporation (NASDAQ:CSX)’s dividend payout leaped by 114%, and the company bought back 30% of its shares. Nearly $4 billion worth of shares were bought back in 2021. The company has a dividend yield of 1.29% with a quarterly dividend of $0.10.

Hedge funds were loading up on CSX Corporation (NASDAQ:CSX) stock in the first quarter of 2022. According to the Insider Monkey database, 72 hedge funds had stakes worth $6.3 billion in the company, compared to 56 hedge funds in the previous quarter with a combined stake value of $5.3 billion.

Here is what ClearBridge investments had to say about CSX Corporation (NASDAQ:CSX) in its Q4 2021 investor letter:

“On a regional basis, the U.S. and Canada was the top contributor to quarterly performance, of which U.S. rail operators CSX was among the lead performers. CSX is one of five leading North American rail companies, with over 21,000 miles of rail, covering 23 states and 40+ ports. CSX is engaged in the transportation of rail freight in the Southeast, East, and Midwest via interchange with other rail carriers, to and from the rest of the U.S. and Canada. CSX performed well during the quarter after the company beats market expectations on its third-quarter results. The beats were largely driven by strong pricing, which could be hitting record highs, and healthy commodity/coal volume driven by the current energy crisis.”

You can also take a look at 10 Blue Chip Stocks to Buy Now According to Billionaire Andreas Halvorsen and Michael Hintze’s 2022 Portfolio : Top 10 Stock Picks.

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