Valiant Capital’s Favorite Consumer Stocks for Q3

#3. Amazon.com, Inc. (NASDAQ:AMZN)

– Shares Owned by Valiant Capital Management (as of June 30): 92,250

– Value of Valiant Capital Management’s Holding (as of June 30): $66.01 Million

Moving on, Valiant Capital reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 6% during the April-to-June period, to 92,250 shares. After undergoing a minor correction at the start of 2016, Amazon’s stock has again resumed its uptrend since mid-February and has appreciated by over 14% so far this year. The e-commerce behemoth recently reported its second quarter results, which were better than what the Street had anticipated. While analysts were expecting the company to report EPS of $1.11 on revenue of $29.35 billion, Amazon declared EPS of $1.78 on revenue of $30.4 billion. Amazon’s cloud platform AWS was again a star, showing remarkable growth with its net sales climbing by 58% year-over-year to $2.88 billion. After losing the battle in China due to the country’s biased policies toward domestic companies, Amazon is leaving no stones unturned in its bid to win the title of market leader in the growing Indian e-commerce market. In the past few months it has been investing heavily in the country and recently launched its Prime services there. Larry Chen and Terry Zhang’s Tairen Capital initiated a stake in Amazon.com, Inc. (NASDAQ:AMZN) during the second quarter, purchasing 28,700 shares of the company.

#2. Walgreens Boots Alliance Inc (NASDAQ:WBA)

– Shares Owned by Valiant Capital Management (as of June 30): 813,331

– Value of Valiant Capital Management’s Holding (as of June 30): $67.72 Million

After reducing its stake in Walgreens Boots Alliance Inc (NASDAQ:WBA) moderately during the previous two quarters, Valiant Capital reduced it by a further 6% during the second quarter. Walgreens Boots’ stock has largely been range-bound since late-October when it announced its $17.2 billion acquisition of Rite Aid Corporation (NYSE:RAD) and is currently trading down by 2.7% year-to-date. Although both companies remain confident that the deal will be approved by regulators, in the last few months some analysts have become skeptical about its successful completion due to the time that the FTC is taking to probe the deal. In a regulatory filing submitted on July 27, Walgreens Boots Alliance Inc (NASDAQ:WBA) revealed that it is planning to shut down its websites Drugstore.com and Beauty.com, thus reducing its e-commerce presence. Last month, analysts at Credit Suisse reiterated their ‘Buy’ rating on the stock while reducing their price target on it to $82.51 from $95.00. Ray Carroll’s Breton Hill Capital boosted its Walgreens holding by 7% to 19,526 shares during the second quarter.

#1. Priceline Group Inc (NASDAQ:PCLN)

– Shares Owned by Valiant Capital Management (as of June 30): 54,452

– Value of Valiant Capital Management’s Holding (as of June 30): $68.09 Million

Despite its stock declining by 3.14% during the second quarter, Priceline Group Inc (NASDAQ:PCLN) jumped five spots to become Valiant Capital’s sixth-most valuable equity holding at the end of June, as the fund increased its stake in the company by 39% during the quarter. Shares of the online travel and restaurant reservation and related services provider suffered a big drop following the Brexit results, but are still trading up by over 10% year-to-date. Priceline Group Inc (NASDAQ:PCLN) also posted strong bottom-line results earlier this month, declaring $2.56 billion in revenue and adjusted earnings of $13.93 per share for the second quarter, slightly missing revenue estimates, but walloping EPS estimates by $1.24. Analysts at RBC Capital Markets reiterated their ‘Buy’ rating and $1,600 price target on the stock on August 8, which represents potential upside of 19%. Concourse Capital Management also boosted its stake in the company during the second quarter, by 45% to 5,115 shares.

Disclosure: None