They are trying to refranchise some of their bottling agreements and are 2/3rds of the way through. They should increase their margins.

They generate a lot of cash. The stock has not done well because their Hep-C drug is very affective and the demand for the drug will go down. He would hang on and you should see the share price increase.

REITs. H&R or Slate? They are creating a new sector at the end of the month. The incremental demand should support share prices. He prefers H&R to slate. Even if it has exposure to Western Canada, there are 10 years to the leases and to their debt. It is a very well diversified REIT and you get a great yield.

Significant emerging markets exposure. He sees better risk reward in other parts of the healthcare market.

Lifecos have assets and liabilities. Part of the overhang is the long end of the interest rate curve going down. They are investigating having to hold more cash on the balance sheet. Notwithstanding, they have hedges in place that mitigate short term exposure. The valuation should stay range bound for the short term.

(Top Pick Jul 02/15, Up 38.81%) He is one of the largest shareholders. He thinks there is still significant upside as they recently completed a significant acquisition in HVAC.

(Top Pick Jul 02/15, Down 15.33%) The concern is cord cutting or cord shaving. He still holds it. There is still good franchises there. He would wait for the next couple of quarters to get comfortable with ESPN before increasing holdings. Pullbacks are a good place to add.