Gilead Sciences Inc. (GILD), Yahoo! Inc. (YHOO) and Sinclair Broadcast Group Inc. (SBGI) Among the Top Picks of Bernard Selz

Selz Capital purchased a new 550,000 share stake in Yahoo! Inc. (NASDAQ:YHOO) during the first quarter, which is valued at $24.44 million as of March 31. Even though it might seem that this move did not come at the right time as the shares of Yahoo dropped by more than 7% on Tuesday, short-term fluctuations are not overly concerning to medium- and long-term investors like Selz Capital. The dip was caused by rumors about the U.S government’s possible reexamination of a rule related to corporate spin-offs that could potentially affect Yahoo’s intended spin-off of Alibaba Group Holding Ltd (NYSE:BABA). Among the hedge funds that are bullish on Yahoo! Inc. (NASDAQ:YHOO), Brian J. Higgins increased his fund’s already sizable stake in Yahoo! Inc. to 22.50 million convertible bonds, while Owl Creek Asset Management, led by Jeffrey Altman owns 10.39 million Yahoo shares.

Selz Capital increased its position in Sinclair Broadcast Group Inc. (NASDAQ:SBGI) to 673,100 shares, a 523% increase. The television broadcasting company beat Wall Street’s first quarter expectations for it by reaching a net income of $24.3 million and revenue of $504.77 million. Sinclair Broadcast Group Inc. (NASDAQ:SBGI) has been performing relatively well since the beginning of the year, achieving a hike of more than 11% in its share price. Some other reputable hedge funds, including Raystone Capital Partners and Glenn J. Krevlin‘s Glenhill Advisors are also bullish on Sinclair Broadcast Group, owning 4.35 million and 2.59 million shares respectively.

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