Billionaire Dan Loeb’s Top 5 Stock Picks

4. IAA, Inc. (NYSE: IAA)

Value: $643,302,000
Percent of Dan Loeb’s 13F Portfolio: 4.95%
Number of Hedge Fund Holders: 35

Illinois-based IAA, Inc. provides auction solutions for low-value vehicles. The company’s platforms and technologies connect sellers of damaged or used vehicles with their potential buyers.  In the fourth quarter, the company posted adjusted EPS of $0.48, beating the Street’s estimates by $0.04. Revenue in the quarter jumped 7.8% to $383.5 million, beating the consensus by $15.93 million.

With a $643.3 million stake in IAA Inc., Third Point owns 9.9 million shares of the company as of the end of the fourth quarter of 2020. Our database shows that 35 hedge funds held stakes in IAA as of the end of the fourth quarter, versus 36 funds in the third quarter.