Below are billionaire Louis Bacon’s top 5 stock picks. For a comprehensive list please see Billionaire Louis Bacon’s Top 10 Stock Plays.
5. Magna International Inc. (NYSE: MGA)
Louis Bacon’s Moore Capital initiated a position in Magna International Inc (NYSE: MGA) during the fourth quarter. It appears that the stock-picking strategy worked for the hedge fund. This is because shares of Magna International surged 22% this year, thanks to improving demand for auto parts and equipment. Magna International has generated 12% revenue growth in the December quarter while EBIT reached a $1.1 billion level compared to the consensus for $780 million.
Hedge fund manager Dan Niles recently said in an interview that he likes Magna International as an attractively priced way to get exposure to the EV market.