How Did Stephen Mandel’s Portfolio Come Through the Third Quarter?

Moving on to the next victim of the recent broader market sell-off, Lone Pine Capital holds 9.73 million shares of Mastercard Inc. (NYSE:MA) as of June 30 after reducing its stake by 3.25 million shares during the second quarter. The aforementioned stake was valued at $909.25 million at the end of June. Mastercard Inc. (NYSE:MA)’s stock lost roughly 3.43% during the third quarter, but it managed to narrow down all the losses caused by the August sell-off. In fact, the shares of the company have advanced by more than 13% since the beginning of the year. It has been rumored that China intends to curb cash withdrawals by Chinese citizens using bank cards outside the country, in an attempt to hinder the immense capital outflow caused by the slumping economy. This might put some downward pressure on the company’s top-line, but this should merely serve as a transitory headwind. Andreas Halvorsen’s Viking Global is among the largest stockholders of Mastercard Inc. (NYSE:MA) within our database, holding 8.22 million shares.

Let’s now take a look at Lone Pine Capital’s position in Facebook Inc. (NASDAQ:FB), which saw its stock gain 4.81% during the third quarter. The investment firm reported owning 9.76 million shares in the tech giant through the 13F filing for the June quarter, which were worth $837.21 million on June 30. This marked an increase of 1.65 million shares quarter-over-quarter. It is already common knowledge that Facebook Inc. (NASDAQ:FB)’s valuation relies on the ability of its management to monetize the recently-made acquisitions (i.e. Instagram and WhatsApp). The company has already proven to be successful in making money on its photo-sharing platform, so the market awaits the monetization efforts on its WhatsApp. It remains to see whether the company will be able to recuperate its $21.8 billion investment. Ken Griffin’s Citadel Investment Group is bullish on Facebook Inc. (NASDAQ:FB), owning a stake of 5.07 million shares as of June 30.

Last but not least, Lone Pine Capital disclosed an ownership stake of 7.16 million shares in Nike Inc. (NYSE:NKE) through its latest 13F filing with the SEC, which was valued at $777.98 million at the end of June. Stephen Mandel’s firm increased its stake in Nike by 1.48 million shares during the second quarter. The stock was one of the gainers in the fund’s equity portfolios, having advanced by 14.13% between July and September. The shares of Nike Inc. (NYSE:NKE) have advanced by more than 35% since the beginning of the year and there are no signs they will stop rising soon enough. Just recently, the company announced a new revenue target of $50 billion by the end of 2020 and said that it expects annual revenue growth of high single-digit to low double-digit. Cliff Asness’ AQR Capital Management holds 1.75 million shares of Nike Inc. (NYSE:NKE) as of June 30, making in one of the top stockholders within our database.

Disclosure: None