Blue Ridge Capital’s Top Picks and New Positions: From Tesla To Autodesk, What You Need To Know

Facebook Inc (NASDAQ:FB)

– Number of Shares Held By Blue Ridge Capital (as of June 30): 3.00 million

–Value of Blue Ridge Capital’s Holdings (as of June 30): $343.59 million

Now for the podium. Occupying the third spot in Griffin’s list by June 30 was Facebook Inc (NASDAQ:FB), which escalated one position in spite of a 5% reduction in the firm’s stake. Even more bullish seemed Alex Snow’s Lansdowne Partners, which boosted its exposure by 51% over the second quarter, to 5.58 million shares. It should be noted that 148 hedge funds from our database held shares of Facebook as of June 30. Since the end of the second quarter, shares of Facebook Inc (NASDAQ:FB) have gained more than 10%, most recently helped by a Barron’s article that made the case for the stock having more than 20% upside to come, the announcement that the iconic social media site was changing its News Feed algorithm to reduce the number of misleading headlines and clickbait shown to users, and news about users being allowed to trigger the site’s “safety check” feature during a disaster.

Charter Communications, Inc. (NASDAQ:CHTR)

– Number of Shares Held By Blue Ridge Capital (as of June 30): 1.86 million

–Value of Blue Ridge Capital’s Holdings (as of June 30): $425.81 million

Second in line was Charter Communications, Inc. (NASDAQ:CHTR), which maintained its spot from the previous quarter, even though Blue Ridge cut its participation by 15% between April and June. Charter was also among our 5 Most Popular Stocks Among Hedge Funds list for the second quarter, counting 134 supporters in our database, up by 36.7% quarter-over-quarter. Among notable investors was Warren Buffett’s Berkshire Hathaway, which held more than 8% of the outstanding shares, even after a 9% reduction to its stake, to 9.34 million shares. Shares of Charter Communications, Inc. (NASDAQ:CHTR) have gained more than 12.6% quarter-to-date, largely helped by strong second quarter results reported in early August. In a recent letter to investors, Chase Coleman‘s Tiger Global Management LLC said the stock could double in value “in the next three to four years,” driven by the company’s “recently completed acquisition of Time Warner Cable [which] will allow the company to implement its customer-focused strategy across Time Warner’s historically undermanaged business, resulting in meaningful improvements in revenue growth, EBITDA margins and free cash flow.”

Autodesk, Inc. (NASDAQ:ADSK)

– Number of Shares Held By Blue Ridge Capital (as of June 30): 10.01 million

–Value of Blue Ridge Capital’s Holdings (as of June 30): $542.15 million

Finally, there’s Autodesk, Inc. (NASDAQ:ADSK), Griffin’s favorite since the beginning of the year. At the end of June, the software company saw 35 funds among those we track, including Blue Ridge Capital and Scott Ferguson’s Sachem Head Capital, which held 12.89 million shares at the end of the quarter. Shares of Autodesk, Inc. (NASDAQ:ADSK) have gained more than 25% in the last six months, and over 27% since the third quarter started. Late last week, the stock spiked up on the back of strong second-quarter results. EPS of $0.05 beat estimates by $0.18, while revenue of $550.7 million came in $36.63 million ahead of expectations. Outlook and subscription growth figures were also robust and helped the stock gain 6.8% since last Friday.

 Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.