Ralph Lauren Corporation (RL), United Rentals Inc. (URI) and Fiat Chrysler Automobiles N.V. (FCAM): Billionaire Glenn Russell Dubin’s Top New Stock Picks

Highbridge Capital Management also opened a long position in United Rentals Inc. (NYSE:URI) during the first quarter, another stock that struggled mightily during the first quarter, down by more than 10%, but has since rebounded to move into positive territory for the year. Dubin’s fund acquired a stake of 612,714 shares worth $55.86 million in the largest equipment rental company in the world. United Rentals produced strong financial results during the first quarter of 2015, which helped spur the stock’s turnaround, with the company’s earnings of $1.34 easily beating the Zacks Consensus Estimate of $1.16. Although the rental company has faced numerous challenges lately such us the decline in the oil and gas market, the harsh winter, and the strong U.S. dollar, United Rentals generated better-than-expected financial results. Barry Wittlin’s WCG Management and Edward Goodnow’s Goodnow Investment Group remain bullish on United Rentals Inc. (NYSE:URI) as their stakes in the rental company were also increased during the quarter.

The latest filing also revealed Highbridge’s acquisition of a 397,000 share stake in Fiat Chrysler Automobiles N.V. (NYSE:FCAM), valued at $54.67 million. The world’s seventh-largest automaker is currently viewed as the shining star in the auto industry. Despite the fact that this stock has been trading in the U.S. only since December (Fiat’s other ticker, NYSE:FCAU has been trading since October), it has already increased by 30% lifetime. Moreover, European car sales have been on an uptrend for 20 consecutive months, which has helped Fiat Chrysler achieve a rise of 13% in its car sales in Europe during April. While it is believed that the European car market has been performing above expectations, Fiat Chrysler Automobiles N.V. (NYSE:FCAM) also recently regained the number one automaker ranking in Brazil, a burgeoning market and one which is expected to help Fiat Chrysler Automobiles deliver continued strong financial performance in the medium- and long-term. Rob Citrone‘s Discovery Capital Management is one of the investment firms with a large position in the recently-listed company.

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