Investors on the hunt for new stock ideas may want to take a look at these names that garnered increased interest from hedge funds during the second quarter, according to Morgan Stanley. The Wall Street firm highlighted a slew of conviction names that saw the most significant increases in ownership among big investors during the period in a Wednesday note to clients. Here are some of the companies that made the list: Liberty Media experienced the largest uptick in ownership during the period, up 22.5%, according to Morgan Stanley’s analysis. Earlier this month, the John Malone-founded media conglomerate approved a split of its Liberty SiriusXM into two tracking stocks separately representing satellite radio company Sirius XM Holdings and Liberty’s 30.3% stake in concert and ticketing giant Live Nation Entertainment. LSXMA YTD mountain Liberty Media shares year to date During the second quarter, Liberty Media remained among Baupost’s top positions , with the Seth Klarman-led fund retaining a $486 million stake in the company. Shares are down about 19% year to date. Macy’s also saw heightened interest from big investors during the second quarter, with ownership rising nearly 7%. Earlier this year, management slashed its full-year outlook . The department store operator, which plans to report its results before the bell Tuesday, had said sales weakened in March and April. The stock has dropped 26% so far this year. M YTD mountain Macy’s stock since the start of 2023 Elsewhere, ownership in Seagen rose more than 5% among hedge funds. Shares have surged nearly 51% this year on news that Pfizer plans to acquire the cancer drug maker in a deal valued at roughly $43 billion. World Wrestling Entertainment also made the cut. The company agreed to merge with UFC during the second quarter to create a new publicly traded company controlled by Endeavor . Shares have risen more than 63% this year and ownership ticked up nearly 9% during the second quarter. — CNBC’s Michael Bloom and Yun Li contributed reporting.
