Billionaire Stephen Mandel’s Top 5 Stock Picks

1. Shopify Inc. (NYSE:SHOP)

Lone Pine Capital’ Stake Value: $2.38 billion
Percentage of Lone Pine Capital’s 13F Portfolio: 7.53%
Number of Hedge Fund Holders:

Shopify Inc. (NYSE:SHOP) is a  multinational e-commerce company based in Ontario. The company provides an e-commerce platform for online stores and retail point-of-sale systems.

By the end of the second quarter of 2021, 85 hedge funds out of the 873 tracked by Insider Monkey held stakes in Shopify Inc. (NYSE:SHOP) worth roughly $13.97 billion. This is compared to 91 hedge funds in the previous quarter with a total stake value of approximately $9.98 billion.

Stephen Mandel of Lone Pine Capital currently holds over 1.63 million shares in Shopify Inc. (NYSE:SHOP). These shares amount to more than $2.38 billion and represent 7.53% of the fund’s investment portfolio.

On October 14, TD Securities analyst Daniel Chan initiated coverage of Shopify, Inc. (NYSE:SHOP) with a Hold rating and $1,500 price target.

In the Q2 2021 investor letter of ClearBridge Investments, the fund mentioned Shopify Inc. (NYSE:SHOP). Here is what the fund said:

“Shopify (is one of the) companies that have become go-to platforms for small and medium size businesses (SMBs) engaged in e-commerce and social media marketing, rebounded strongly in the quarter after being caught in the selloff among high-multiple growth names since Vaccine Monday. These and the portfolio’s other disruptors had thrived through the first part of the pandemic, leading us to trim positions into strength and reallocate cash into more attractively priced evolving opportunities and steady compounders that had been overly punished by lockdowns and a drop in economic activity.”

You can also view Top 10 Stocks to Invest in According to John Smith Clark’s Southpoint Capital Advisors and Carl Icahn’s Stock Portfolio: Top 12 Picks. 

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