Eric Mandelblatt Soroban Capital Partners
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Union Pacific
UNP
|
+$731M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$127M |
| 3 |
Mastercard
MA
|
+$89.9M |
| 4 |
BKI
Black Knight, Inc. Common Stock
BKI
|
+$6.18M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Analog Devices
ADI
|
+$333M |
| 2 |
Amazon
AMZN
|
+$332M |
| 3 |
Cenovus Energy
CVE
|
+$327M |
| 4 |
The Mosaic Company
MOS
|
+$217M |
| 5 |
CF Industries
CF
|
+$210M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 44.42% |
| 2 | Technology | 16.34% |
| 3 | Energy | 11.8% |
| 4 | Materials | 10.21% |
| 5 | Communication Services | 7.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Union Pacific
UNP
$183B
| $1.66B | 22.81% |
8,260,185
+3,605,266
| +77% | +$731M |
|
2
CSX Corp
CSX
$95.6B
| $1.57B | 21.61% |
52,593,037
-5,507,827
| -9% | -$169M |
|
3
Microsoft
MSFT
$3.59T
| $1.18B | 16.26% |
4,108,967
-218,592
| -5% | -$55.8M |
|
|
4
Cenovus Energy
CVE
$60.7B
| $597M | 8.19% |
34,169,012
-17,788,850
| -34% | -$327M |
|
5
Teck Resources
TECK
$33.9B
| $405M | 5.55% |
11,084,331
| – | – |
|
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $372M | 5.1% |
3,575,580
| – | – |
|
7
Lowe's Companies
LOW
$121B
| $342M | 4.69% |
1,710,990
| – | – |
|
8
Visa
V
$693B
| $290M | 3.97% |
1,284,359
-436,291
| -25% | -$97.1M |
|
9
EQT Corp
EQT
$33.6B
| $200M | 2.74% |
6,259,016
-210,000
| -3% | -$6.74M |
|
|
10
Alphabet (Google) Class A
GOOGL
$4.22T
| $162M | 2.23% |
1,565,604
+1,325,604
| +552% | +$127M |
|
11
Westlake Corp
WLK
$10.1B
| $157M | 2.15% |
1,352,861
-668,813
| -33% | -$77.2M |
|
|
12
The Mosaic Company
MOS
$7.76B
| $109M | 1.5% |
2,386,414
-4,487,087
| -65% | -$217M |
|
|
13
Mastercard
MA
$509B
| $89.9M | 1.23% |
+247,410
| New | +$89.9M |
|
14
Canadian Natural Resources
CNQ
$106B
| $63.7M | 0.87% |
2,300,212
-4,039,426
| -64% | -$114M |
|
|
X
15
DELISTED
US Steel
X
| $36.9M | 0.51% |
1,412,180
-210,794
| -13% | -$5.86M |
|
16
Nutrien
NTR
$35.9B
| $36.3M | 0.5% |
491,430
-729,575
| -60% | -$56.3M |
|
|
BKI
17
DELISTED
Black Knight, Inc. Common Stock
BKI
| $5.95M | 0.08% |
+103,286
| New | +$6.18M |
|
|
18
Analog Devices
ADI
$182B
| – | – |
-2,031,223
| Closed | -$333M |
|
|
19
Amazon
AMZN
$2.79T
| – | – |
-3,948,200
| Closed | -$332M |
|
|
20
CF Industries
CF
$19.6B
| – | – |
-2,460,321
| Closed | -$210M |
|
21
Suncor Energy
SU
$80B
| – | – |
-4,721,080
| Closed | -$150M |
|
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Eric Mandelblatt's Q1 2023 Portfolio in Review
As of Q1 2023, Eric Mandelblatt held 21 positions worth $7.29B, down 12% from $8.32B the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Eric Mandelblatt withdrew a net $1.2B in Q1 2023, closing 4 positions and reducing 10 holdings. Its most notable exit was Analog Devices, an estimated $333M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 44% of assets, up from 33% a quarter earlier, followed by Technology and Energy.
Against the trend, Eric Mandelblatt opened a new position in Mastercard worth $89.9M.
- Eric Mandelblatt's largest Q1 2023 buy was Mastercard: 247,410 shares worth $89.9M.
- Eric Mandelblatt added most to Union Pacific in Q1 2023, an estimated $731M increase.
- Eric Mandelblatt's biggest Q1 2023 reduction was Cenovus Energy, cutting an estimated $327M.
- Eric Mandelblatt fully exited Analog Devices in Q1 2023, selling an estimated $333M.
- Eric Mandelblatt's ten largest holdings make up 93% of its $7.29B portfolio in Q1 2023.
- Eric Mandelblatt opened 2 new positions and closed 4 in Q1 2023.
- Eric Mandelblatt's portfolio value fell 12% quarter-over-quarter to $7.29B.
Based on Soroban Capital Partners's 13F filing for Q1 2023, filed 15 May 2023.