Billionaire Rob Citrone’s Top 5 Stock Picks

2. Hertz Global Holdings, Inc. (NASDAQ:HTZ)

Discovery Capital Management’s stake value: $140.2 million

Percentage of portfolio: 12.03%

Number of hedge fund holders: 72

Rob Citrone’s firm slashed its stake in Hertz Global Holdings, Inc. (NASDAQ:HTZ) by 14% in the March quarter, with it accounting for 12.03% of the firm’s 13F portfolio value. Despite that, Hertz ranks second on the list of billionaire Rob Citrone’s top 10 stock picks. The company generated 25% revenue growth for the June quarter and announced that it will repurchase $2 billion worth of shares. The company’s strong free cash flow generation ability enables it to spend a huge amount on buybacks and investments in growth opportunities. In the June quarter, the company generated $484 million in free cash flow.

Hedge funds are also showing confidence in Hertz. As of the end of March, 72 hedge funds were bullish about the company compared to 69 positions in the previous quarter.