Billionaire Stephen Mandel’s Top Long-Term Picks

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#1 Priceline Group Inc (NASDAQ:PCLN)

Shares held (as of September 30): 992,252
Total Value (as of September 30): $1.23 billion
Percent of Portfolio (as of September 30): 5.00%

China is a very important segment for Priceline Group Inc (NASDAQ:PCLN). The provider of online travel and travel-related reservation and search services recently invested $500 million in Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), giving Priceline an option to own almost 15% of the company. As the Chinese economy recovers and its middle class gains purchasing power, Priceline’s acquisition could pay off in spades. Hedge fund sentiment towards Priceline is bullish, as 86 funds from our database were long the stock at the end of the third quarter, up from 71 funds a quarter earlier.

Disclosure: none

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