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Apr 17, 2026 4:00 PM

Billionaire Investor Slashes Norfolk Southern Stake — And Doubles Down On 2 Railroad Rivals

Hedge fund billionaire Daniel Loeb reshuffled his exposure in the railroad industry at Third Point LLC in the fourth quarter of FY25.

The investor opened a new position in CSX Corporation (NASDAQ:CSX), acquiring 500,000 shares in the quarter.

Also, he boosted interest in Union Pacific Corporation (NYSE:UNP) by 107% to 1.81 million.

Meanwhile, he slashed the stake in Norfolk Southern Corp. (NYSE:NSC) by 41% to 975,000 shares.

Union Pacific: Recent Key Events

The company reported fourth-quarter adjusted EPS of $2.86, which missed the analyst estimate of $2.87. Operating revenue decreased 1% to $6.09 billion, which missed the analyst estimate of $6.12 billion.

The company projected a 2026 outlook for EPS growth, consistent with attaining the 3-year CAGR target of high-single digit to low-double digit through 2027. The capital plan is $3.3 billion.

Union Pacific penned a deal with Westinghouse Air Brake Technologies Corporation (NYSE:WAB) for the largest locomotive modernization investment in rail industry history. The companies inked a deal for $1.2 billion to modernize the railroad's AC4400 locomotives.

The company penned a seven-year deal with Rocky Mountain Steel Mills to supply domestically ...

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