Lone Pine Capital LLC took stakes in Baidu Inc., MasterCard Inc. 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., 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.