Bloomberg News

Lone Pine Bolsters Online Holdings With Stakes in Baidu, Amazon

November 14, 2013

Lone Pine Capital LLC took stakes in Baidu Inc., MasterCard Inc. (MA:US) and Amazon.com Inc. in the third quarter while eliminating its holdings of Ralph Lauren Corp.

Lone Pine, run by Stephen Mandel Jr., bought 5.3 million shares of Beijing-based Baidu, owner of China’s biggest search engine, with a market value of about $821 million, according to a regulatory filing today by Greenwich, Connecticut-based Lone Pine. The fund now holds 700,600 shares of Purchase, New York-based MasterCard valued at $471 million and 773,737 shares of Seattle-based Amazon valued at $242 million.

New positions included 6.3 million shares in DaVita Healthcare Partners Inc. worth almost $359 million and 10.1 million shares of Pandora Media Inc. listed at $253 million, according to the filing.

Lone Pine sold its $457 million stake in New York-based Ralph Lauren, composed of 2.6 million shares in the fashion designer. The fund also eliminated positions in Intuitive Surgical Inc., Hertz Global Holdings Inc. and WR Grace & Co. (GRA:US), the filing shows.

Money managers who oversee more than $100 million in equities must file a Form 13F with the Securities and Exchange Commission within 45 days of each quarter’s end to list their U.S.-traded stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold.

To contact the reporter on this story: Fanni Koszeg in New York at fkoszeg@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net


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Companies Mentioned

  • MA
    (MasterCard Inc)
    • $76.39 USD
    • -0.01
    • -0.01%
  • GRA
    (WR Grace & Co)
    • $99.41 USD
    • 0.08
    • 0.08%
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