Why These Billionaire Mandel Picks Deserve Your Attention

Align Technology, Inc.(NASDAQ:ALGN) is a medical technology company that has soared by 49% over the last one year and trades near its all-time high price of $99. Lone Pine Capital was the biggest fund buyer of this stock during the third quarter, initiating a new position by buying $228 million worth of shares (as of the end of September). Top ranked quant fund Renaissance Technologies was also a big buyer of Align Technology, Inc. (NASDAQ:ALGN), increasing its holdings by 13% to $88.5 million in the quarter ending September. While the stock may not look cheap with a forward earnings multiple of 33 and a P/B multiple of 8, the next 5 year average analyst growth estimate of 23% annually justifies the valuation for many bulls. 37 top funds had a bullish position in Align Technology, Inc. (NASDAQ:ALGN) at the end of the third quarter, up 11 funds from the previous quarter.

Lone Pine Capital slightly increased its holdings of telecom infrastructure provider Commscope Holding Company Inc. (NASDAQ:COMM) by 300,000 shares at the end of the third quarter and had a total holding of $114 million at the end of Q3. Lee Ainslie’s Maverick Capital, Renaissance Technologies and Rivulet Capital were some of the other large hedge fund buyers of Commscope Holding Company Inc (NASDAQ:COMM) during this time period. Currently 6.81 million shares have been shorted by market participants, down from 8 million in the prior time period. 13 analysts have rated Commscope Holding Company Inc (NASDAQ:COMM) as a buy while no analyst rates it a sell. The stock price has increased by an impressive 33% over the last one year and even a more impressive 144% over the past 5 years. At the end of September, 52 funds from our database held shares worth $2.88 billion of this stock, accounting for 49.3% of the company’s float at the month end.

Cheniere Energy, Inc. (NYSEMKT:LNG) is Lone Pine Capital’s largest energy holding with a value of $468 million (As of the end of September). Carl Icahn is the biggest owner and proponent of Cheniere Energy, Inc. (NYSEMKT:LNG) with a position value of $1.4 billion at the end of Q3. Analysts have an average target price of $51.5 which implies a 25% upside from its current price level. Cheniere Energy, Inc. (NYSEMKT:LNG) became the first company to export LNG from the lower 48 after it opened its LNG terminal at Sabine Pass earlier this year. The company has plans to build seven more LNG trains to supply natural gas to buyers in Asia under long term contracts. 45 funds from our system held 51% of the company’s outstanding shares as of September 30.

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