Billionaire Rob Citrone Grows Bullish on Energy, Airline and Healthcare Stocks

Biogen Inc. (NASDAQ:BIIB) represents the biggest healthcare position in Discovery Capital Management’s 13F portfolio, with the fund having increased its stake by 418% to 504,765 shares worth $143 million during the fourth quarter. On the other hand, Viking Global reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 267,524 shares to 1.92 million shares over the same period. Shares of the bio-pharmaceutical giant have underperformed the market, but still have gained 16% over the last year. Pharma stocks have been under pressure after President Trump said that drug prices need to be sharply lowered to bring down the healthcare costs. Biogen Inc. (NASDAQ:BIIB) recently spun off its hemophilia business into a separate company Bioverativ Inc. (NASDAQ:BIVV) to focus on its neurological treatments. Between October and December, the number of funds tracked by us bullish on Biogen declined to 76 from 81.

Discovery Capital Management started a new position in Delta Air Lines, Inc. (NYSE:DAL) by buying 2.55 million shares valued at $125 million at the end of 2016. Billionaire Warren Buffett’s Berkshire Hathaway boosted its stake in Delta Air Lines, Inc. (NYSE:DAL) by over 53 million shares to around 60 million shares disclosed in its latest 13F. Delta Air Lines, Inc. (NYSE:DAL) is on track to receive its new flagship Airbus A350-900, which is currently under production, as older Boeing 747-400 aircraft is scheduled to retire by the end of this year. The new aircraft will come fitted with seatback entertainment, Wi-Fi and a modern cabin. The number of funds from our database that had Delta Air Lines, Inc. (NYSE:DAL) in their portfolios inched up by three to 88 during the fourth quarter.

On the other hand, Robert Citrone’s fund closed its position in Activision Blizzard, Inc. (NASDAQ:ATVI) as it sold 2.94 million shares during the fourth quarter. Other investors that unloaded shares of the company included Citadel Advisors, Daniel Och’s OZ Management and Arrowstreet Capital. The company recently has announced the launch of a newly created Consumer Products division and also hired Tim Kilpin, a former employee of Mattel and Disney. For the fourth quarter, Activision Blizzard, Inc. (NASDAQ:ATVI) reported great results with adjusted earnings of $0.92 per share beating analyst estimates of $0.73 per share, while revenue of $2.45 billion was above the consensus estimate of $2.35 billion. The company reported an online player community of 50 million for 2016, up by 3% from 2015. Shares of Activision Blizzard, Inc. (NASDAQ:ATVI) have declined by almost 9% in the second half of 2016. A total of 61 funds from our database amassed around 10.4% of Activision Blizzard’s stock heading into 2017.

Disclosure: None