Hedge fund manager Steve Mandel (Trades, Portfolio), who founded Lone Pine Capital in 1997, sold the following stocks in the second quarter.Â
The guru trimmed 55.79% off his Facebook Inc. (FB, Financial) stake, impacting the portfolio by -3.48%.
The social network has a market cap of $501.34 billion and an enterprise value of $459.03 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 25.83% and return on assets of 22.89% are outperforming 85% of companies in the Global Internet Content and Information industry. Its financial strength is rated 9 out of 10 with no debt.
Frank Sands (Trades, Portfolio) is the largest guru shareholder of the company with 0.3% of outstanding shares, followed by Andreas Halvorsen (Trades, Portfolio) with 0.21% and Spiros Segalas (Trades, Portfolio) with 0.2%.
The Broadcom Inc. (AVGO, Financial) holding was closed. The trade had an impact of -3.27% on the portfolio.
The company manufactures analog and digital semiconductor connectivity solutions. It has a market cap of $89.59 billion and an enterprise value of $99 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 46.65% and return on assets of 20.78% are outperforming 95% of companies in the Global Semiconductors industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.47 is below the industry median of 1.69.
The largest shareholder of the company among the gurus is Segalas with 0.59% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.23%, First Pacific Advisors (Trades, Portfolio) with 0.22% and Steven Romick (Trades, Portfolio) with 0.17%.
The guru exited his position in Taiwan Semiconductor Manufacturing Co. (TSM, Financial). The transaction had an impact of -2.74% on the portfolio.
The semiconductor manufacturer has a market cap of $204.16 billion and an enterprise value of $183.72 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 23.99% and return on assets of 17.80% are outperforming 88% of companies in the Global Semiconductors industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 5.86 is above the industry median of 1.69.
Ken Fisher (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.66% of outstanding shares, followed by Sarah Ketterer (Trades, Portfolio) with 0.12% and Jim Simons (Trades, Portfolio) with 0.07%.
The guru divested of his BlackRock Inc. (BLK, Financial) holding, impacting the portfolio by -2.52%.
The company, which provides investment management services, has a market cap of $76.75 billion and an enterprise value of $75.07 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. While the return on equity of 17.40% is outperforming the sector, the return on assets of 2.53% is underperforming 53% of companies in the Global Asset Management industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.35 is below the industry median of 85.28.
The largest shareholder of the company among the gurus is Daniel Loeb (Trades, Portfolio) with 0.4% of outstanding shares, followed by Pioneer Investments (Trades, Portfolio) with 0.21% and Manning & Napier Advisors Inc. with 0.21%.
The PayPal Holdings Inc. (PYPL, Financial) stake was reduced by 40.71%. The trade had an impact of -1.67% on the portfolio.
The company, which provides electronic payment solutions, has a market cap of $102.92 billion and an enterprise value of $99.96 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 13.39% and return on assets of 5.15% are outperforming 66% of companies in the Global Credit Services industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 2.48 is below the industry median of 8.43.
With 0.84% of outstanding shares, Loeb is the company's largest guru shareholder, followed by Mandel with 0.53%, Segalas with 0.52% and Pioneer Investments with 0.36%.
The Adobe Systems Inc. (ADBE, Financial) stake was trimmed 21.12%, impacting the portfolio by -1.31%.
The company, which develops content creation software, has a market cap of $125.13 billion and an enterprise value of $120.67 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 25.94% and return on assets of 15.06% are outperforming 89% of companies in the Global Software - Application industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 3.38 is below the industry median of 4.72.
The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 4.41% of outstanding shares, followed by Sands with 0.94% and Mandel with 0.91%.
Disclosure: I do not own any stocks mentioned in this article.
