Billionaire Marc Lasry’s Top 5 Stock Picks

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1. Seadrill Limited (NYSE:SDRL)

Avenue Capital’s Q2 2023 Investment: $27.8 million

Number of Hedge Fund Investors in Q2 2023: 30

Seadrill Limited (NYSE:SDRL) is the third energy company on our list of Marc Lasry’s top stock stock picks. His hedge fund owned a $27.8 million stake that came via 676,266 shares held as of Q2 2023 end. However, Avenue Capital is not Seadrill Limited (NYSE:SDRL)’s largest hedge fund investor. Instead, the largest investor out of the 3o that own the firm’s shares is activist investor Paul Singer’s Elliott Management which owns a sizeable $291 million stake in the company.

Seadrill Limited (NYSE:SDRL) is headquartered in Hamilton, Bermuda and it offers offshore oil drilling products and services to some of the biggest oil companies in the world. This leaves the firm’s growth contingent on global oil demand, with higher prices naturally leading to more oil supply and drilling. Additionally, Seadrill Limited (NYSE:SDRL) is the perfect investment for Avenue Capital’s portfolio since the firm has recently emerged from financial turmoil that also resulted in a delisting from the New York Stock Exchange.

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Disclosure: None. You can also take a look at 12 Most Undervalued Blue Chip Stocks to Buy According to Hedge Funds and 20 Biggest Augmented Reality And VR Companies In The World.

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