Top 5 Stock Picks of Alec Litowitz and Ross Laser’s Magnetar Capital

4. First Horizon Corporation (NYSE:FHN)

Magnetar Capital’s Stake Value: $172,402,000
Percentage of Magnetar Capital’s 13F Portfolio: 1.83%
Number of Hedge Fund Holders: 44

First Horizon Corporation (NYSE:FHN) is a financial holding company that provides consumers and companies with checking accounts, savings products, mortgage banking, lending, and financing. First Horizon Corporation (NYSE:FHN) is one of the latest acquisitions of Magnetar Capital in Q1 2022. The hedge fund held shares worth over $172.40 million in the company, representing 1.83% of its 13F portfolio.

On May 31, First Horizon Corporation (NYSE:FHN) announced that The Toronto-Dominion Bank (NYSE:TD) had gained shareholder approval to buy First Horizon. The acquisition is scheduled to conclude in the first quarter of TD’s fiscal year 2023, subject to regulatory approvals in the United States and Canada and the satisfaction of other closing conditions.

Insider Monkey’s Q1 database shows that First Horizon Corporation (NYSE:FHN) remained popular among elite funds, with 44 hedge funds owning stakes in the Tennessee-based company, up from 24 in the previous quarter. These stakes hold an aggregate value of roughly $1.05 billion.