Was Goodnow Investment Group Right to Invest in Paypal Holdings Inc (PYPL), Credit Acceptance Corp. (CACC) & Two Other Stocks?

On the other hand, in Paypal Holdings Inc (NASDAQ:PYPL), Goodnow trimmed its stake by 5% during the third quarter to 914,426 shares worth $37.46 million. However, as the stock gained 12.2% between July and September, the position jumped to the second spot in the fund’s equity portfolio. Overall, the number of funds followed by us long Paypal Holdings Inc (NASDAQ:PYPL) declined to 84 from 87 during the second quarter. More specifically, Icahn Capital LP reported the largest holding, which was worth $1.24 billion at the end of June. It was followed by Orbis Investment Management with a $490 million position. Other investors bullish on the company included Lone Pine Capital, D E Shaw, and Coatue Management.

Commscope Holding Company Inc (NASDAQ:COMM) saw Goodnow cut its position by 18% during the third quarter, after having increased it by 55% in the previous three months. In this way, as the stock declined by 3% during the third quarter, Goodnow held 763,112 shares worth $22.97 million at the end of September. There were 47 funds from our database holding shares of Commscope Holding Company at the end of June, up by 31% over the quarter. Among these funds, Chieftain Capital was the largest shareholder of Commscope Holding Company Inc (NASDAQ:COMM), with a stake worth $476.5 million reported as of the end of June. Trailing Chieftain Capital was Maverick Capital, which amassed a stake valued at $473 million. FPR Partners, Route One Investment Company, and Corvex Capital also held valuable positions in the company.

Disclosure: none