Stephen Mandel’s Lone Pine Capital reported on November 7th that the firm now takes 8.26 million shares in Wyndham Worldwide Corporation (WYN), giving a 5.3% passive stake ownership. This is a nearly 23% expansion since Lone Pine Capital had 6.73 million WYN shares at the end of second quarter. It’s possible that Stephen Mandel realized WYN’s strong uptrend in October. He might entered at below $30 per share. Now the stock is trading at $34.38, already giving him a more than 10% return.
Beside Lone Pine Capital’s largest WYN stake among the hedge funds, twenty nine hedge funds invested in the stock in the second quarter. Bain Capital’s Brookside Capital took the second place with 2.67 million shares, up by 88% from Q1. Christopher Medlock James’ Partner Fund Management cut its position by 24% and retained 2.51 million shares. Malcolm Fairbairn’s Ascend Capital boosted its position by 825% and had 1.85 million shares in WYN at that time.
Lone Pine Capital LLC is owned by Stephen Mandel, who has $17 Billion assets under management. He’s a “bottom-up” investor with great stock picking skills. He returned about 23% during the past 11 years, beating the S&P 500 index by more than 20 percentage points per year. According to its 13F in the second quarter, the firm mainly invests in Technology, Services, and some other sectors.
Wyndham Worldwide Corporation is a hospitality company. It offers a range of hospitality services and products across various accommodation alternatives to individual consumers and business customers. The company operates three segments: lodging, vacation exchange and rentals and vacation ownership. The company offers products through more than 20 brands, including Wyndham Hotels and Resorts, Ramada, Days Inn, and Super 8, etc. The company is headquartered in Parsippany, New Jersey.