Billionaire Howard Marks’ Amazing Track Record and Top New Picks

America Movil SAB de CV (ADR)(NYSE:AMX) was the second-largest buy of Oaktree Capital in the March quarter. The fund bought 1.44 million shares of the company valued at $29.427 million as of March 31. In the last few quarters, America Movil SAB de CV (ADR)(NYSE:AMX) has been engaged in selling vast amount of its wireless assets to rival firms because of increasing pressure from Mexican antitrust authorities. However, some analysts believe that this will be good for the company in the long run as it will make it more efficient, competitive and will help ease regulatory pressure. On an average, analysts have a ‘Hold’ rating on the stock with a price target of $16.92, well below its current trading price of above $21. Apart from Oaktree, Jim Simons’ Renaissance Technologies and David Kowitz And Sheldon Kasowitz’s Indus Capital also initiated a stake in the company in the March quarter.

Alibaba Group Holding Ltd(NYSE:BABA) turned out to be the third-largest new pick of Oaktree in the March quarter and that can be solely due to the drop in the company’s stock price in the quarter. Oaktree purchased 345,000 shares of Alibaba Group Holding Ltd(NYSE:BABA) during the quarter, which as of March 31 were valued at $28.718 million, just slightly below what America Movil SAB de CV (ADR)(NYSE:AMX) shares were worth on the same date. The company has been recently in news because of the Netflix, Inc. (NASDAQ:NFLX) like streaming service it plans to launch soon in China. On June 22, analysts at Morgan Stanley raised their price target on the company to $111.90 from $109. Of the 45 analysts on the Street who cover the stock, 37 have a ‘Buy’ rating on it. The shares currently trade near $85 levels, while the Street has a n average price target of $107.18 on them. Among the hedge funds we cover, Andreas Halvorsen’s Viking Global and George Soros‘ Soros Fund Management are also bullish on Alibaba Group Holding Ltd(NYSE:BABA), raising their stakes by 88% and 2% in the March quarter respectively.

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