Billionaire Dan Loeb Has 27% of His Third Point Portfolio in 3 Brilliant "Magnificent Seven" Stocks, but Completely Sold Out of Another

Daniel Loeb is something of an iconic figure in the annals of Wall Street. The billionaire is CEO of Third Point, the hedge fund he founded in 1995. Loeb secured his place in investor history by starting Third Point with just $3 million in seed money -- collected from family and friends -- and parlaying that into a $6 billion financial empire. In 2022, Loeb made the list of the "Best hedge Fund Managers of All Time."

So when Loeb talks, Wall Street listens.

Over the past year, Loeb's Third Point's holdings have been heavily weighted toward the so-called "Magnificent Seven" stocks. The common thread that unites these industry leaders is artificial intelligence (AI). They were also all among the top performers in the Nasdaq Composite last year:

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Source Fool.com