News Corp. (NWSA) is the fund's largest holding, at 10.7% of the portfolio, after it added 3.4 million shares in the second quarter. That stake now has a market value of $575 million.
The company is still in the midst of a phone-hacking scandal that includes potential criminal charges against current and former employees and its ethics and policies may come under review in other countries and could potentially impact CEO Rupert Murdoch's empire. The political backlash in the U.K. has already resulted in its dropping its bid for the British satellite broadcaster BSkyB (BSYBY).News Corp.'s shares are up 11% this year, but down 10% over the past three months after the scandal broke. Its board recently authorized a $5 billion share repurchase program which should help support share prices. The company is a media conglomerate with a wide range of assets: filmed entertainment; television's Fox Network; 35 TV stations; and Star, a television network in Asia. It also has cable network programming; direct-broadcast satellite television (Sky Italia); magazines and inserts, and newspapers in Australia, the U.K. and in the U.S., and it owns the book publisher HarperCollins, and its online properties including MySpace.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV