Melvin Capital Management’s Returns, AUM, and Holdings

The biggest new position that Melvin Capital acquired was in internet giant Alphabet Inc. (GOOG), formerly known as Google, in which the fund obtained a position that counted 503,511 class A voting shares valued at $568.56 million. The second-largest stake the fund disclosed holding as of the end of June was in Take Two Interactive Software Inc (TTWO), owning 1.15 million shares worth around $136.22 million. Hedge funds tracked by Insider Monkey’s database are becoming more bullish on this stock, as 56 of them reported holding long positions in it as of the end of Q2, up by eight from the end of Q1.

Among its existing positions, Melvin Capital grew more optimistic about Restaurant Brands International Inc. (QSR) and Yandex N.V. (YNDX) during the second quarter, raising its stake by 550% to 1.30 million shares in the former, and by 343% to 5.75 million shares in the latter. Unlike Melvin Capital, the collection of smart money investors tracked by Insider Monkey were losing enthusiasm for Yandex N.V. (YNDX) during the quarter, as at the end of June there were 38 hedge funds long the stock, down from 48 a quarter earlier.

At the opposite end of the spectrum are several companies which the fund lost a great deal of interest in during Q2, including Mgm Resorts International (MGM) and Wynn Resorts Ltd (WYNN), in which the fund trimmed its stakes by 79% to 1.25 million shares and by 78% to 550,000 shares, respectively.

Lastly, out of the 37 stocks that Melvin Capital decided to dump in Q2, the biggest of those stakes were in Facebook, Inc. (FB) and Costar Group, Inc. (CSGP). The fund said goodbye to its position in Facebook, Inc (FB) that counted 952,751 shares on March 31, worth around $152.24 million, as well as its position in Costar Group, Inc. (CSGP), which included 270,000 shares valued at $97.92 million at the end of Q1.

Disclosure: None. This article was originally published on Insider Monkey.