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Apple Inc. (AAPL) Out, CBS Corporation (CBS) In As Laurion Capital’s Top Pick

During the first three months of the year, Laurion acquired some 1.25 million shares of CBS Corporation (NYSE:CBS) valued at $75.87 million. The stake represented 1.48% of the fund’s portfolio value. The $28.62 billion mass media company operates through four main segments, which are entertainment, cable networks, publishing, and local broadcasting. Although up by nearly 5% year-to-date, CBS Corporation (NYSE:CBS)’s stock has slid by a little more than 4% over the last year. The company recently announced that it will launch its premium cable network Showtime as a stand-alone streaming service. The subscription price of $10.99 per month is $4 lower than HBO Now’s fee. Eric W. Mandelblatt‘s Soroban Capital Partners is the largest stockholder of CBS Corporation (NYSE:CBS) within our database, holding about 12.36 million shares valued at $749.61 million.

Another newly initiated stake of the fund was in United Technologies Corporation (NYSE:UTX), and consisted of 417,700 shares valued at $48.95 million. The second-largest equity holding constituted 0.95% of the fund’s portfolio value. The stock of the $102.44 billion industrials company is trading nearly sideways on a year-to-date basis. A push in the right direction could come at the end of the third quarter, as that is the time United Technologies Corporation (NYSE:UTX)’s CEO Gregory Hayes has given for the company’s final verdict on whether to spinoff or sell its Sikorsky Aircraft business. Among investors that we track, Ken Fisher‘s Fisher Asset Management is the largest stockholder of United Technologies Corporation (NYSE:UTX)’s, owning 8.07 million shares valued at $945.53 million.

Laurion’s third-largest equity holding, Yum! Brands, Inc. (NYSE:YUM) was initiated during the March quarter with 587,945 shares valued at $46.28 million. The stock of the $39 billion restaurant holding company engaged in the operation of multiple restaurant chains, including Kentucky Fried Chicken, Taco Bell, and Pizza Hut, is up by a staggering 25% year-to-date. Among the funds that we track, pioneer activist Dan Loeb’s Third Point is the largest shareholder of Yum! Brands, Inc. (NYSE:YUM) with 3.3 million shares valued at $259.78 million.

Disclosure: None

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