Shopify Inc (SHOP), Amazon.com, Inc. (NASDAQ:AMZN) & More: Should You Follow Light Street Capital Into Its Top Picks?

Expedia Inc (NASDAQ:EXPE), was a stock in which Light Street Capital boosted its position by 161% during the June quarter and held 471,051 shares worth $50.07 million at the end of the period. Boosting of the stake was a good move, considering that the stock has returned 10.1% in the following three months. At the end of June, 67 funds followed by our team were bullish on this stock, a change of 3% from the previous quarter. More specifically, PAR Capital Management was the largest shareholder of Expedia Inc (NASDAQ:EXPE), with a stake worth $695.9 million reported as of the end of June. Trailing PAR Capital Management was Altimeter Capital Management, which amassed a stake valued at $478.1 million. Tourbillon Capital Partners, Steadfast Capital Management, and JANA Partners also held valuable positions in the company.

Another stock in which Light Street Capital trimmed its stake during the second quarter is Facebook Inc (NASDAQ:FB). The fund lowered its stake by 48% to 350,000 shares, which were valued at $40 million at the end of June. During the second quarter, the stock brought appreciated by 12.2%. Facebook Inc (NASDAQ:FB) was in 148 funds’ portfolios at the end of June, down from 164 investors a quarter earlier. Among them, Viking Global held the most valuable position in Facebook Inc (NASDAQ:FB), worth close to $2.3 billion. The second most bullish fund manager was Lone Pine Capital, led by Stephen Mandel, which held a $1.25 billion position. Other members of the smart money with similar optimism encompassed Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, John Armitage’s Egerton Capital Limited and Alex Snow’s Lansdowne Partners.

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