In Yum! Brands, Inc. (NYSE:YUM), Tairen also initiated a stake during the second quarter and held 207,139 shares at the end of June. The stock advanced by more than 10% during the third quarter, helping the returns of 46 funds tracked by Insider Monkey that held long positions in this stock at the beginning of July. Corvex Capital, managed by Keith Meister, held the most valuable position in Yum! Brands, Inc. (NYSE:YUM). Corvex Capital has a $1.75 billion position in the stock, comprising 23.5% of its 13F portfolio. The second most bullish fund manager was Stephen Mandel of Lone Pine Capital, with a $826.9 million position; 3.8% of its 13F portfolio was allocated to Yum! Brands, Inc. (NYSE:YUM) at the end of June.
Tairen also reported ownership of 235,200 shares of NVIDIA Corporation (NASDAQ:NVDA) as of the end of June, the stock also representing a new addition to its equity portfolio. Among the stocks in this article, NVIDIA saw the largest increase, having jumped by 46% between July and September. At the end of the second quarter, a total of 50 of the hedge funds tracked by Insider Monkey were long this stock, a change of 16% from the first quarter of 2016. Among them, Egerton Capital Limited, managed by John Armitage, holds the biggest position in NVIDIA Corporation (NASDAQ:NVDA), having disclosed a $223.4-million position, comprising 2.5% of its 13F portfolio as of the end of June. Sitting at the No. 2 spot is Hudson Bay Capital Management, led by Sander Gerber, which reported a $215.5 million position; the fund has 6.7% of its 13F portfolio invested in the stock. Remaining professional money managers with similar optimism about NVIDIA Corporation (NASDAQ:NVDA) include Jim Simons’ Renaissance Technologies, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Millennium Management.
Finally, there’s Yelp Inc (NYSE:YELP), which also represented a new holding in Tairen’s equity portfolio, the position containing 306,100 shares. The investment was another big winner for the fund as shares of Yelp advanced by 37% in the third quarter. The company enjoyed a significant increase in popularity as heading into the third quarter of 2016, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 36% from the second quarter. Eashwar Krishnan’s Tybourne Capital Management had the most valuable position in Yelp Inc (NYSE:YELP), worth close to $186.7 million, corresponding to 9.7% of its total 13F portfolio. Coming in second was Greenlight Capital, managed by David Einhorn, which held an $88 million position; 1.6% of its 13F portfolio is allocated to the stock. Among the funds that initiated stakes in Yelp, was Fine Capital Partners, managed by Debra Fine, which established the biggest position in Yelp Inc (NYSE:YELP) and had $22.9 million invested in the company at the end of the quarter.
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