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Eric Mandelblatt Soroban Capital Partners
AUM
$47.8B
Turnover
16.67%
1-Year Est. Return
11.8%
Eric Mandelblatt is the founder of Soroban Capital Partners, a fundamental long/short equity firm. Soroban is known for research-intensive positions and a flexible approach across sectors. Mandelblatt’s public portfolio is followed among large fundamental hedge fund managers.
This Fund
S&P 500
This Quarter Est. Return
+5.42%
1 Year Est. Return
+11.8%
3 Year Est. Return
+67.01%
5 Year Est. Return
+109.29%
10 Year Est. Return
+430.8%
AUM
$26.5B
AUM Growth
+$823M
(+3.2%)
Cap. Flow
-$1.25B
Cap. Flow % of AUM
Cap. Flow %
-4.71%
Top 10 Holdings %
Top 10 Hldgs %
55.49%
Holding
47
New
3
Increased
11
Reduced
15
Closed
7
Avg Time Held
Equity + Options
0.8
years
Top 10 Avg Time Held
Equity + Options
0.8
years
Top 20 Avg Time Held
Equity + Options
0.9
years
Avg Time Held Equity only
1.2
years
Top 10 Avg Time Held Equity only
1.1
years
Top 20 Avg Time Held Equity only
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$396M |
| 2 |
Comcast
CMCSA
|
+$132M |
| 3 |
Broadcom
AVGO
|
+$116M |
| 4 |
MGM Resorts International
MGM
|
+$94.9M |
| 5 |
Walgreens Boots Alliance
WBA
|
+$35.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Praxair Inc
PX
|
+$468M |
| 2 |
LyondellBasell Industries
LYB
|
+$326M |
| 3 |
Charter Communications
CHTR
|
+$261M |
| 4 |
Lowe's Companies
LOW
|
+$254M |
| 5 |
Booking.com
BKNG
|
+$198M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 54.99% |
| 2 | Communication Services | 11.06% |
| 3 | Technology | 10.12% |
| 4 | Consumer Staples | 8.2% |
| 5 | Consumer Discretionary | 5.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
CALL
AB InBev
BUD
$168B
| $2.59B | 9.79% |
21,750,000
+750,000
| +4% | +$87.8M |
2014 Q4
11 quarters
|
|
2
CALL
Union Pacific
UNP
$177B
| $2.17B | 8.2% |
18,750,000
| – | – |
2017 Q1
2 quarters
|
|
3
NXP Semiconductors
NXPI
$60B
| $1.89B | 7.12% |
16,683,466
| – | – |
2015 Q2
9 quarters
|
|
|
4
AB InBev
BUD
$168B
| $1.58B | 5.95% |
13,223,407
-582,463
| -4% | -$68.2M |
2013 Q4
15 quarters
|
|
|
5
CALL
DELISTED
Praxair Inc
PX
| $1.5B | 5.67% |
10,750,000
-1,275,000
| -11% | -$170M |
2017 Q1
2 quarters
|
|
6
CALL
Marriott International
MAR
$103B
| $1.24B | 4.68% |
11,250,000
+10,000,000
| +800% | +$1.03B |
2017 Q1
2 quarters
|
|
|
7
Union Pacific
UNP
$177B
| $1.12B | 4.21% |
9,617,925
-543,906
| -5% | -$58.3M |
2016 Q2
5 quarters
|
|
8
CALL
Norfolk Southern
NSC
$76B
| $893M | 3.37% |
6,750,000
| – | – |
2017 Q2
1 quarter
|
|
|
9
CALL
Broadcom
AVGO
$1.54T
| $873M | 3.29% |
+36,000,000
| New | +$890M |
2017 Q3
0 quarters
|
|
10
DELISTED
Liberty Broadband Class C
LBRDK
| $847M | 3.2% |
8,892,050
| – | – |
2016 Q2
5 quarters
|
|
|
11
Broadcom
AVGO
$1.54T
| $796M | 3% |
32,807,950
+4,675,510
| +17% | +$116M |
2015 Q4
7 quarters
|
|
|
12
CALL
DELISTED
Walgreens Boots Alliance
WBA
| $753M | 2.84% |
9,750,000
-3,750,000
| -28% | -$300M |
2016 Q4
3 quarters
|
|
|
13
Alphabet (Google) Class C
GOOG
$3.92T
| $736M | 2.78% |
15,355,360
+8,506,000
| +124% | +$396M |
2017 Q2
1 quarter
|
|
14
CALL
Constellation Brands
STZ
$23.5B
| $698M | 2.63% |
3,500,000
+2,485,000
| +245% | +$492M |
2017 Q2
1 quarter
|
|
|
15
DELISTED
Praxair Inc
PX
| $696M | 2.62% |
4,978,004
-3,511,713
| -41% | -$468M |
2016 Q4
3 quarters
|
|
16
CALL
United Parcel Service
UPS
$86.4B
| $673M | 2.54% |
5,600,000
+5,000,000
| +833% | +$568M |
2017 Q2
1 quarter
|
|
|
17
MGM Resorts International
MGM
$7.42B
| $641M | 2.42% |
19,675,857
+2,951,549
| +18% | +$94.9M |
2017 Q2
1 quarter
|
|
|
18
DELISTED
Walgreens Boots Alliance
WBA
| $620M | 2.34% |
8,024,784
+447,700
| +6% | +$35.9M |
2015 Q2
9 quarters
|
|
|
19
Constellation Brands
STZ
$23.5B
| $597M | 2.25% |
2,991,027
-349,052
| -10% | -$69.1M |
2017 Q1
2 quarters
|
|
|
20
CALL
Comcast
CMCSA
$81.1B
| $577M | 2.18% |
15,000,000
-4,500,000
| -23% | -$177M |
2016 Q2
5 quarters
|
|
|
21
CALL
Alphabet (Google) Class C
GOOG
$3.92T
| $575M | 2.17% |
12,000,000
+4,000,000
| +50% | +$186M |
2017 Q2
1 quarter
|
|
|
22
Marriott International
MAR
$103B
| $511M | 1.93% |
4,630,983
-1,501,050
| -24% | -$155M |
2016 Q3
4 quarters
|
|
|
23
Charter Communications
CHTR
$12.8B
| $478M | 1.8% |
1,314,948
-700,929
| -35% | -$261M |
2016 Q2
5 quarters
|
|
24
Liberty Media Corporation Series C Common Stock
FWONK
$22.9B
| $457M | 1.72% |
12,411,468
| – | – |
2017 Q1
2 quarters
|
|
25
PUT
ExxonMobil
XOM
$733B
| $410M | 1.55% |
5,000,000
-1,500,000
| -23% | -$119M |
2017 Q2
1 quarter
|
|
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Eric Mandelblatt's Q3 2017 Portfolio in Review
As of Q3 2017, Eric Mandelblatt held 47 positions worth $26.5B, up 3.2% from $25.7B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Eric Mandelblatt withdrew a net $1.25B in Q3 2017, closing 7 positions and reducing 15 holdings. Its most notable exit was LyondellBasell Industries, an estimated $326M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 55% of assets, up from 51% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Eric Mandelblatt opened a new position in Comcast worth $129M.
- Eric Mandelblatt's largest Q3 2017 buy was Comcast: 3,360,000 shares worth $129M.
- Eric Mandelblatt added most to Alphabet (Google) Class C in Q3 2017, an estimated $396M increase.
- Eric Mandelblatt's biggest Q3 2017 reduction was Praxair Inc, cutting an estimated $468M.
- Eric Mandelblatt fully exited LyondellBasell Industries in Q3 2017, selling an estimated $326M.
- Eric Mandelblatt's ten largest holdings make up 55% of its $26.5B portfolio in Q3 2017.
- Eric Mandelblatt opened 3 new positions and closed 7 in Q3 2017.
- Eric Mandelblatt's portfolio value rose 3.2% quarter-over-quarter to $26.5B.
Based on Soroban Capital Partners's 13F filing for Q3 2017, filed 14 Nov 2017.