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Billionaire Rob Citrone’s Top New Stock Picks

At the end of the second quarter, Discovery Capital Management held a new position in Magna International Inc (USA) (NYSE:MGA) of 2.35 million shares valued at $131.93 million. The company is an automotive supplier with approximately 313 manufacturing operations and over 84 product development, engineering, and sales centers in approximately 28 countries. On a year-to-date basis, the stock of Magna International Inc (USA) (NYSE:MGA) has depreciated by 10.56%, while the auto, truck and motorcycle industry has lost 11.17%. On the bright side, the company reported better-than-expected EPS of $1.29 for the second quarter, beating estimates by $0.11, while its revenue of $8.13 billion was also $40 million above analysts’ expectations. Doug Silverman and Alexander Klabin’s Senator Investment Group held 3.75 million shares of Magna International Inc (USA) (NYSE:MGA) on June 30, valued at $210.34  million.

Lastly, Discovery Capital Management purchased exactly 2.50 million shares of AerCap Holdings N.V. (NYSE:AER) during the second quarter, valued at $114.48 million as of June 30. The $8.55 billion company is the world’s largest aircraft leasing operator after acquiring International Lease Finance Corp. back in 2014. Market experts from Barclays updated their price target on AerCap Holdings N.V. (NYSE:AER) to $55 from $53. Deutsche Bank analysts are even more optimistic about the future of the company, holding a $65 target on its shares. In the meantime, the stock is changing hands at some $43.30, and has a P/E of 7.49, which looks relatively attractive compared to other major industry participants. Among the other funds that we track, one can find Barry Rosenstein’s JANA Partners, which possesses around 10.51 million shares of AerCap Holdings N.V. (NYSE:AER) worth $481.29 million.

Disclosure: None

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