50 Top Stock Picks In Q2 That Billionaires Love

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Caesars Entertainment

Calvin Ayre

Market Value: $7.6 billion
Billionaire Investor: Toscafund Asset Management
Percent of Portfolio: 16.6%

Activist investor Carl Icahn once had the biggest stake in Caesars Entertainment, forcing the casino to sell to Eldorado Resorts. Thankfully they kept the name of Caesars, eventually selling all of his shares in the second quarter. Despite the coronavirus pandemic wreaking havoc on the entire entertainment industry, most of the companies investors has continued to stand by them, including Toscafund Asset Management. The London-based group (AUM $2.3 billion) bought 251,589 worth of shares in the 2nd quarter worth $10 million, making Caesars a 16.6% portfolio in Toscafund. They also bought into PayPal, DraftKings and First Industrial Reality Trust.