Lone Pine Capital: Interview, Performance, AUM, and Holdings

2. Activision Blizzard, Inc. (NASDAQ:ATVI)

In Activision Blizzard, Inc. (NASDAQ:ATVI), Lone Pine cut its stake by 13% to 5.32 million shares worth $1.24 billion between April and June. The position amassed 6.30% of its equity portfolio heading into the third quarter. Another investor bullish on the company is fellow Tiger Cub Philippe Laffont’s Coatue Management, which holds 11.91 million shares. Activision Blizzard, Inc. (NASDAQ:ATVI) is another investment that has been paying off for Lone Pine, so far this year, with its stock over 80% in the green year-to-date. The increase was aided by annual increases in videogame sales registered in March, April, June, and July, as well as by strong financial results posted by Activision Blizzard, Inc. (NASDAQ:ATVI). For the last quarter, the company posted EPS of $0.32, which beat the estimates by $0.16, while Revenue of $1.42 billion was $190 million higher than expected. Both figures were also higher than the company’s own guidance. In addition, in February, when Activision Blizzard, Inc. (NASDAQ:ATVI) posted better-than-expected financial results, it also announced a 15% dividend hike and a $1.0 billion stock buyback plan. Moreover, earlier this year, Activision Blizzard, Inc. (NASDAQ:ATVI) became a newcomer on the Fortune 500 list.