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 |
Exelon
EXC
|
+$307M |
| 2 |
Brookfield
BN
|
+$251M |
| 3 |
American Electric Power
AEP
|
+$152M |
| 4 |
DTE Energy
DTE
|
+$74M |
| 5 |
Lowe's Companies
LOW
|
+$63.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CSX Corp
CSX
|
+$343M |
| 2 |
Union Pacific
UNP
|
+$267M |
| 3 |
Microsoft
MSFT
|
+$88.4M |
| 4 |
Teck Resources
TECK
|
+$48.6M |
| 5 |
Visa
V
|
+$33.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 35.09% |
| 2 | Technology | 16.16% |
| 3 | Financials | 10.06% |
| 4 | Communication Services | 8.94% |
| 5 | Utilities | 8.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Union Pacific
UNP
$183B
| $1.73B | 21.42% |
7,047,378
-1,212,807
| -15% | -$267M |
|
|
2
Microsoft
MSFT
$3.59T
| $1.31B | 16.16% |
3,471,675
-248,292
| -7% | -$88.4M |
|
|
3
CSX Corp
CSX
$95.6B
| $1.1B | 13.67% |
31,861,922
-10,759,617
| -25% | -$343M |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $504M | 6.24% |
3,575,580
| – | – |
|
|
5
Lowe's Companies
LOW
$121B
| $451M | 5.58% |
2,025,990
+315,000
| +18% | +$63.9M |
|
|
6
Brookfield
BN
$93.1B
| $404M | 5% |
15,090,879
+11,060,989
| +274% | +$251M |
|
|
7
Teck Resources
TECK
$33.9B
| $372M | 4.6% |
8,795,582
-1,266,341
| -13% | -$48.6M |
|
|
8
Exelon
EXC
$45.1B
| $286M | 3.54% |
+7,969,967
| New | +$307M |
|
|
9
Visa
V
$693B
| $257M | 3.18% |
986,632
-137,150
| -12% | -$33.8M |
|
|
10
Alphabet (Google) Class A
GOOGL
$4.22T
| $219M | 2.71% |
1,565,604
| – | – |
|
11
EQT Corp
EQT
$33.6B
| $215M | 2.66% |
5,556,989
-117,054
| -2% | -$4.75M |
|
12
Cenovus Energy
CVE
$60.7B
| $167M | 2.07% |
10,024,149
| – | – |
|
|
13
American Electric Power
AEP
$65.8B
| $160M | 1.97% |
+1,963,982
| New | +$152M |
|
14
Mastercard
MA
$509B
| $153M | 1.89% |
357,689
| – | – |
|
15
Westlake Corp
WLK
$10.1B
| $122M | 1.51% |
871,479
-27,358
| -3% | -$3.47M |
|
|
16
DTE Energy
DTE
$28.1B
| $79.6M | 0.99% |
+721,930
| New | +$74M |
|
17
Canadian Natural Resources
CNQ
$106B
| $75.4M | 0.93% |
2,300,212
| – | – |
|
18
CRH
CRH
$63.2B
| $57.7M | 0.71% |
+833,973
| New | +$50.3M |
|
|
PPL
19
PPL Corp
PPL
$25.9B
| $56.8M | 0.7% |
+2,095,602
| New | +$53.1M |
|
20
Yum! Brands
YUM
$41.8B
| $54M | 0.67% |
+412,932
| New | +$51.5M |
|
21
UDR
UDR
$12.1B
| $47.8M | 0.59% |
+1,248,995
| New | +$43.4M |
|
22
Camden Property Trust
CPT
$10.8B
| $46.1M | 0.57% |
+464,575
| New | +$43M |
|
|
AVB
23
DELISTED
AvalonBay Communities
AVB
| $45.6M | 0.56% |
+243,606
| New | +$42.5M |
|
24
Mid-America Apartment Communities
MAA
$15.2B
| $45.1M | 0.56% |
+335,208
| New | +$42.6M |
|
|
VMRK
25
Vivmark Residential
VMRK
$25B
| $43.9M | 0.54% |
+717,647
| New | +$41.5M |
|
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Eric Mandelblatt's Q4 2023 Portfolio in Review
As of Q4 2023, Eric Mandelblatt held 30 positions worth $8.08B, up 20% from $6.76B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Eric Mandelblatt deployed $488M of net new capital in Q4 2023, opening 15 new positions and adding to 2 existing holdings. Its largest new stake was Exelon: 7,969,967 shares worth $286M.
By sector, the portfolio is most concentrated in Industrials at 35% of assets, down from 44% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was CSX Corp, an estimated $343M trimmed.
- Eric Mandelblatt's largest Q4 2023 buy was Exelon: 7,969,967 shares worth $286M.
- Eric Mandelblatt added most to Brookfield in Q4 2023, an estimated $251M increase.
- Eric Mandelblatt's biggest Q4 2023 reduction was CSX Corp, cutting an estimated $343M.
- Eric Mandelblatt fully exited Planet Fitness in Q4 2023, selling an estimated $18.6M.
- Eric Mandelblatt's ten largest holdings make up 82% of its $8.08B portfolio in Q4 2023.
- Eric Mandelblatt opened 15 new positions and closed 1 in Q4 2023.
- Eric Mandelblatt's portfolio value rose 20% quarter-over-quarter to $8.08B.
Based on Soroban Capital Partners's 13F filing for Q4 2023, filed 14 Feb 2024.