Billion Dollar Fund Manager is Getting Defensive- Here Are 10 Stocks He Still Likes

Reid is trimming winning financials on size discipline while rotating into Verizon, healthcare, and pulled-back AI-infrastructure names like Ciena, EMCOR and MasTec.

• Trimming financials on size, not fear: Reid cut Goldman Sachs by ~33% and Morgan Stanley by ~25% purely because they'd grown too large in the portfolio after gains of roughly 40% and 45% since his last appearance; Jackson Financial is up ~60%.
• New defensive buy: Goodreid initiated Verizon for its ~5.5% dividend after the stock dipped on Meta's new 'Muse' AI banking-agent threat to financial-services switching costs.

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