GrubHub Inc. (GRUB)’s Insatiable Appetite for Gains Feeds Pelham Capital’s Whopper of a Quarter

Next up is Visa Inc. (NYSE:V), the third-most valuable holding in Pelham’s portfolio at the end of the second quarter, valued at $5.04 million. Pelham Capital left the position unchanged during the third quarter and it rose in value to $5.62 million, or over 10%. The announcement yesterday that Visa Inc. (NYSE:V) would cut an undisclosed number of jobs did not aid the stock, which has lost 2% this week. Shares are up by 4% year-to-date.

Heading into the third quarter of 2016, a total of 118 of the hedge funds tracked by Insider Monkey held long positions in this stock, a rise of 11% from one quarter earlier. Fisher Asset Management, managed by Ken Fisher, holds the number one position in Visa Inc (NYSE:V) valued at $1.13 billion in stock at the end of June. The second-most bullish fund manager was Warren Buffett of Berkshire Hathaway, with a $759.4 million position. Remaining professional money managers that were bullish contained Alex Snow’s Lansdowne Partners, Stephen Mandel’s Lone Pine Capital, and Eric W. Mandelblatt’s Soroban Capital Partners.

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Lastly is Vantiv Inc (NYSE:VNTV), in which Pelham Capital owned 65,500 shares valued at $3.71 million on June 30. As of September 30, Pelham has hiked its stake in the stock to 96,000 shares, which are worth $5.40 million. Vantiv Inc (NYSE:VNTV) ended the third quarter down slightly, but has rallied in the last two weeks following its latest earnings results being released. Its revenue of $491 million and EPS of $0.71 both topped estimates.

Heading into the third quarter of 2016, a total of 29 of the hedge funds tracked by Insider Monkey held long positions in Vantiv, up from 27 at the end of March. Their collective positions in the stock also rose in value during the second quarter, ending the period valued at $570 million, up from $524 million at the start of the quarter. Ric Dillon’s Diamond Hill Capital had the biggest position in Vantiv Inc (NYSE:VNTV) at the end of June, worth close to $231.5 million, and comprising 1.5% of its 13F portfolio’s value.

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