Top 5 Stock Picks of Michael Bilger’s 59 North Capital

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1. News Corporation (NASDAQ:NWS)

59 North Capital Stake: $45,251,000         

Percentage of 59 North Capital’s Portfolio: 12.96%

Number of Hedge Fund Holders: 13

News Corporation (NASDAQ:NWS) is a media corporation with a presence in the United States, the United Kingdom, and Australia. Some of the prominent brands of the company include The Wall Street Journal, Herald Sun, and The Times. Michael Bilger continued to add to its position in News Corporation (NASDAQ:NWS) during Q2 2022. 59 North Capital now owns 2,904,459 shares of the company, which makes it the biggest holding of the hedge fund as of Q2 2022.

News Corporation (NASDAQ:NWS) had a strong Q4 2022 quarter, reporting revenue of $2.67 billion, up 7.30% YoY. The company reported a normalized EPS of $0.37, beating the market consensus estimate by $0.29. The company’s digital real estate service segment boomed, recording a growth of 25% to $1.7 billion.

As per Insider Monkey’s database, 13 hedge funds had a long position on the company’s stock at the end of Q2 2022. Yacktman Asset Management remained the leading stakeholder of the company, with a total investment value of $265 million in  News Corporation (NASDAQ:NWS).

You can also take a look at These 5 Stocks are Plummeting After the Fed’s Latest Rate Hike and Ken Fisher’s Top 5 Growth Stock Picks.

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