Lone Pine Acquires Femsa Stake, Sells America Movil

(Corrects to remove incorrect percentage outstanding.)

Lone Pine Capital LLC, the hedge fund run by Stephen Mandel, bought shares in Fomento Economico Mexicano SAB (FMX) and sold a stake in America Movil SAB (AMX) in the first quarter.

Lone Pine bought 6.2 million shares of Fomento Economico Mexicano, Latin America’s largest beverage maker, and held a stake worth $198 million as of March 31, according to a regulatory filing today. The Monterrey, Mexico-based company is known as Femsa.

The Greenwich, Connecticut-based fund sold 5.4 million shares of Mexico City-based America Movil, Latin America’s largest mobile-telephone company.

In the first three months, the fund also bought 3.3 million shares in JPMorgan Chase & Co. (JPM) It acquired 12.7 million shares in casino owner Las Vegas Sands Corp. (LVS)

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