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3 Stock Picks from Steven Mandel of Lone Pine Capital

Steven Mandel

Steven Mandel’s Greenwich, Connecticut-based Lone Pine Capital has 67 holdings worth $24.7 billion, and the fund’s value increased  1.08% in the second quarter. Mandel added to his positions of Baidu (BIDU), Cognizant Technologies (CSTH) and Valeant Pharmaceuticals (VRX).

Mandel bought 1.1 million additional shares of Baidu, and it comprises 6.74% of Lone Pine Capital’s holdings. Baidu has benefited from Chinese government restrictions against Google, and Baidu is the leading internet company in China. Lone Pine Capital has one of the largest holdings of Baidu of any hedge fund.

Cognizant Technologies (CTSH) comprises 5.83% of Mandel’s portfolio, and he owns 29 million shares. The stock has risen 3% in 2Q. The stock dropped recently on weak guidance which management said was due to slowing orders and  longer sales cycles.

Valeant Pharmaceuticals (VRX) makes up 5.14% of Mandel’s portfolio and he bought 1.2 million shares in 2Q. Valeant, encouraged by hedge fund manager Bill Ackman, has made a hostile takeover bid for Allergan (AGN), which its management has rejected. The stock price of both companies is likely to be affected by the outcome of this bid.

 

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