Bank of America Corporation (BAC), Molson Coors Brewing Company (TAP) Among Billionaire Bruce Kovner’s Top Stocks

Caxton Associates reported owning 863,000 shares of Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) in its most recent 13F, which yields an increase of 813,000 shares from the prior filing. The hotel and leisure company has seen its stock decline by nearly 10% year-to-date. Starwood has been outperformed by its competitors such as Marriott International Inc. (NASDAQ:MAR) and Hilton Worldwide Holdings Inc. (NYSE:HLT) in expanding their hotel chains and has lost visible market share over the last few years. Hence, Starwood has recently appointed the investment bank Lazard to evaluate strategic options, indicating that the company might be looking to be acquired. However, some analysts suggest that the probability of Starwood engaging in a strategic move is slimmer than most people expect. In the meantime, Daniel Och’s OZ Capital Management has been loading up on Starwood Hotels & Resorts Worldwide Inc. (NYSE:HOT) shares, reporting a 5.97% stake in the company via a recent 13G filed with the SEC.

Caxton Associates acquired 572,000 shares of Molson Coors Brewing Company (NYSE:TAP) during the quarter, piling up a 717,000 share-stake valued at $145.00 million. The brewing company recently reported better-than-expected quarterly profit, which was boosted by higher pricing and higher demand for the company’s higher-margin beers. Molson Coors Brewing Company (NYSE:TAP)’s net sales dropped by 15.4% year-over-year to $1 billion, being affected by the strong U.S. dollar. At the same time, Molson reported net income of $229 million or $1.23 per share for the quarter, compared to $290.9 million or $1.56 per share reported a year ago. The stock has been quite volatile this year, having lost slightly over 6% since the beginning of the year. Meanwhile, Molson is among the top five mid-cap stocks hedge funds love, with James Dinan’s York Capital Management representing its largest shareholder within our database with 3.21 million shares.

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