Billionaire Richard Chilton’s Top Stock Picks Include Dollar General Corp. (DG)

The filing disclosed ownership of 1.3 million shares of Airgas, Inc. (NYSE:ARG), the $7.6 billion market cap provider of industrial gases. Note that with W.R. Grace & Co. (NYSE:GRA) this makes two industrial materials stocks among the fund’s top picks. Airgas, Inc. (NYSE:ARG)’s recent reports show little change in sales compared to a year ago, with net income declining slightly. Markets seem to expect considerable improvement as the trailing P/E multiple is 24, though certainly the recent results are not in line with this optimism. Robert Caruso’s Select Equity Group had 1.5 million shares of Airgas, Inc. (NYSE:ARG) in its portfolio at the beginning of April.

LKQ Corporation (NASDAQ:LKQ), a replacement auto parts company, rounds out our list of Chilton’s top picks. It is another stock priced for high growth, with its market capitalization of $9.2 billion resulting in a trailing P/E of 34. Partly due to a run of acquisitions, LKQ Corporation (NASDAQ:LKQ) recorded over a 20% increase in revenue in its most recent quarter compared to the same period in the previous year with net income increasing strongly as well. We’d be interested in taking a closer look at the company to see how much of this growth was due to acquisitions and therefore how much organic growth we might expect from LKQ Corporation (NASDAQ:LKQ) in the future.

Disclosure: I own no shares of any stocks mentioned in this article.