Of course, Wall Street’s best and brightest aren’t always in agreement, and when they’re not, things can get pretty heated. Take, for example, Bill Ackman and Carl Icahn‘s epic showdown overHerbalife (HLF) or Dan Loeb’s sharp criticism of Warren Buffett.
Warren Buffett picked up a stake in 21st Century Fox (FOXA) in late 2014, and in 2015, he has continued to increase his position and now owns over 6.2 million shares.
During the first quarter of the year, Leon Cooperman joined the Oracle of Omaha in betting on FOXA with the purchase of 2.6 million shares, and Chase Coleman’s Tiger Global maintained its position of 16.8 million shares.
On June 11, news broke that Rupert Murdoch is preparing to step down as CEO of 21st Century Fox and hand over the reins to his sons, James and Lachlan. The company confirmed Tuesday that James will succeed his father as chief executive.
One interesting fact about how Murdoch’s exit will affect Buffett: Once Murdoch steps down, Buffett will increase his lead as the oldest CEO in the S&P 500
Adreas Halvorsen’s biggest new buy of the first quarter of 2015 was AIG (AIG – Get Report), of which he picked up 8.4 million shares valued at upwards of $460 million. Fellow hedge funder John Paulson picked up an even bigger stake in the insurance company, purchasing 14.6 million shares. Larry Robbins increased his position to 6.5 million shares, and Dan Loeb left his holdings untouched at 3.5 million shares.
In other words, AIG is pretty popular among Wall Street pros.
AIG made headlines Monday when a federal judge ruled that the U.S. acted beyond the bounds of its authority in its 2008 bailout of the company; however, the judge did not award any damages to former AIG chief executive, Hank Greenberg, who sought to win at least $25 billion for shareholders.
Through market close Wednesday, AIG’s stock has climbed more than 10% year-to-date.
The cheaper Chesapeake Energy (CHK – Get Report) becomes, the more Carl Icahn buys — or that’s at least how it seems. The vociferous billionaire investor raised eyebrows in March when a regulatory filing revealed he had increased his stake in the energy company. He owns more than 73 million CHK shares, giving him an 11% stake.
Ray Dalio’s Bridgewater Associates also upped the ante in Chesapeake Energy this year. In the first quarter, the fund nearly doubled its position. It owns about 450,000 of the company’s shares.
Chesapeake, a producer of natural gas, oil and natural gas liquids, has been hit hard by falling oil prices. Through market close Wednesday, its stock has declined 60% over the past year, including about 38% in 2015 alone.
Analysts at Oppenheimer downgraded the stock to perform from outperform on June 11. “Based on the future strip benchmark oil and gas prices, we expect CHK to report losses of $544M this year and $833M next year, or $0.58 per share and $0.84 per share, respectively,” the firm said in an analyst note.