Google Inc (GOOG), Priceline.com Inc (PCLN): Billionaire Stephen Mandel’s Top Stocks

The company’s key initiative of late is the close of under-performing Gap locations. As well, online sales are expected to outpace overall sales growth. The retailer is also downsizing its dependence on North America; The Gap Inc. (NYSE:GPS) plans to reduce its Gap North America store count to 950 by the end of fiscal 2013, compared with 990 stores at the end of fiscal 2012. Gap then aims to generate 30% of total sales from its overseas operations and online business by 2013 end versus 27% in fiscal 2012.

Going into the second quarter, there were a total of 26 hedge funds long Gap, which was a 16% decrease from the previous quarter. Lone Pine had the largest position, but in second was Edward Lampert’s ESL Investments, with a $492 million position and 12.2% of its 13F portfolio invested in the stock (check out Lampert’s portfolio).

Bottom line

Billionaire Steve Mandel’s top four stocks represent various industries. These include travel booking, tech, discount retail and apparel retail. I think Priceline.com Inc (NASDAQ:PCLN) has room to move higher on the back of a rebound in the economy. Google Inc (NASDAQ:GOOG) should continue to perform nicely given its dominant position in search and mobile, while Dollar General moves higher thanks to new offerings. Gap is also a solid pick in the apparel industry thanks to its turnaround efforts.

The article Billionaire Stephen Mandel’s Top Stocks originally appeared on Fool.com and is written by Marshall Hargrave.

Marshall Hargrave has no position in any stocks mentioned. The Motley Fool recommends Google. The Motley Fool owns shares of Google. Marshall is a member of The Motley Fool Blog Network — entries represent the personal opinion of the blogger and are not formally edited.

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