According to the 13F filings, Criterion Capital had 610,330 shares of Palo Alto Networks Inc (NYSE:PANW) at the end of the second quarter. The aggregate value of this stake was over $74.85 million, which was poised to jump near $100 million, as the stock returned 29.9% during the third quarter. Heading into the third quarter of 2016, 37 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 12% decline from the first quarter of 2016. Among the funds long the stock, Renaissance Technologies held the most valuable stake in Palo Alto Networks Inc (NYSE:PANW), which was worth $139 million at the end of the second quarter. On the second spot was Alyeska Investment Group which amassed $126.4 million worth of shares. Moreover, SRS Investment Management and Tremblant Capital were also bullish on Palo Alto Networks Inc (NYSE:PANW).
Arista Networks Inc (NYSE:ANET) was a new addition to Criterion Capital’s portfolio in the second quarter, as the fund bought over 1.14 million shares of the company, with the position valued at $73.41 million at the end of June. The move proved to be perfectly timed, as the stock returned a massive 32.2% in the September quarter. Lone Pine Capital was the largest shareholder of Arista Networks Inc (NYSE:ANET), with a stake worth $120.5 million reported as of the end of June. McKinley Capital Management, Polar Capital, and Gotham Asset Management also held valuable positions in the company.