Dan Loeb's Third Point hedge fund bets even bigger on global growth

  • Dan Loeb's Third Point hedge fund revealed several new investments in a filing Thursday, including mall operator Macerich and two Argentina-based financial services companies.
  • Loeb's fund has roughly doubled the S&P 500 over the last two decades and the hedge fund manager told investors in late October he expects U.S. stocks to lead global markets higher.
  • The hedge fund dissolved its stake in Hewlett Packard Enterprise and reduced its holdings of Google parent Alphabet in the third quarter, the filing showed.

One of the most successful hedge funds over the last two decades is betting on global growth through stakes in a mall operator, an energy company and a payments processor.

In the third quarter, Dan Loeb's Third Point hedge fund made new investments in Macerich, a real estate investment trust for mall properties, oil refiner and seller Marathon Petroleum and Ohio-based payments processor Vantiv, according to a required quarterly filing released Thursday.

The hedge fund also increased its bet on growth-sensitive industrial stocks by adding a stake in Dover and raising its investment in Vulcan Materials.

Loeb has roughly doubled the S&P 500's return over the last two decades and managed $18 billion, as of late October. Loeb told investors then in a letter he expects U.S. stocks will lead global markets higher.

Thursday's filing also showed Loeb's Third Point fund bought new stakes in Argentina-based financial services companies Grupo Financiero Galicia and Grupo Supervielle. Loeb also increased his holdings of China's e-commerce giant Alibaba.

Third Point dissolved its stake in Hewlett Packard Enterprise and reduced its holdings of Google parent Alphabet in the third quarter, the filing showed.

— CNBC's Tae Kim contributed to this report.