Daniel Loeb acquired 2.9 Million Granite Construction shares worth $240 Million. That's 3.90% of their equity portfolio (9th largest holding). The investor owns 6.76% of the outstanding Granite Construction stock. Daniel Loeb started to build up the position in Granite Construction in Q1 2007 and continued to invest until Q2 2007. Since then they sold 350 Thousand shares. The stake costed the investor $174 Million, netting the investor a gain of 38% so far.