Third Point's Dan Loeb said he is finding companies outside of the red-hot digital world appealing as he hunts for overlooked opportunities beyond the "Magnificent Seven" tech giants. "We are finding many investments in the 'physical world' to be equally attractive," Loeb said in a new investor letter dated Friday.
His fund had a more than $380 million investment in Vistra , a retail electricity and power generation company based in Irving, Texas, as well as a $187 million bet on Ferguson , the largest U.S. distributor of plumbing supplies such as pipes, valves and fittings. He also has a small stake in CRH , a Dublin-based building materials company.
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