3G Capital top Q2 moves include cutting Meta, new stakes in Uber, MercadoLibre, Carvana
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3G Capital Partners, the investment firm co-founded by Brazilian billionaire Alexandre Behring, picked up new stakes in Uber Technologies (NYSE:UBER), MercadoLibre (NASDAQ:MELI) and Carvana (NYSE:CVNA) in Q2, while slashing its position in Meta Platforms (NASDAQ:META) among other moves.
3G Capital disclosed the information in its latest 13F filing for the three months ended June 30, 2024, published on Wednesday.
The fund bought 300K shares in ride-hailing giant Uber (UBER) in Q2. It also picked up 70K class A shares in used car retailer Carvana (CVNA), and 10K shares in MercadoLibre (MELI), Latin America’s biggest e-commerce and financial services firm.
In other new stakes, 3G Capital snapped up 275K American depositary shares in upper midscale Chinese hotel chain Atour Lifestyle (ATAT), and 50K American depositary shares in Chinese video game publisher NetEase (NTES). Meanwhile, 3G Capital exited its stake in Chinese electric vehicle maker Li Auto (LI).
The fund cut its position in several companies in Q2, including a 27% decrease in class A shares of Facebook-parent Meta (META) to 67.5K.
3G Capital trimmed its stake in:
- Applied Materials (AMAT), the largest U.S. semiconductor equipment maker, by 73.9% to 30K shares.
- Semiconductor firm Analog Devices (ADI) by 41.2% to 100K shares.
- Mobile app company AppLovin (APP) by 27.7% to 235K class A shares.
- PDD (PDD), the operator of Chinese e-commerce platforms Pinduoduo and Temu, by 13.6% to 255K American depositary shares.
Finally, 3G Capital increased its stake in insurer Goosehead Insurance (GSHD) by 23.3% to 462.3K class A shares. The fund also doubled its holdings in South Korean e-commerce company Coupang (CPNG) to 1.45M class A shares.
The fund kept its positions in tech and retail behemoth Amazon (AMZN) and marketing automation firm Klaviyo (KVYO) unchanged.
According to Forbes, Alexandre Behring’s real time net worth is $6.3B.
More on 13F filings
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- Trian almost entirely sheds Disney in Q2, takes stakes in Rentokil, 3M spin-off Solventum
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- Starboard Value reduces stake in GoDaddy, increases Salesforce, others in Q2
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