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Stephen Mandel Lone Pine Capital

AUM $16.4B
1-Year Est. Return 99.7%
 

Stephen Mandel founded Lone Pine Capital, a long/short equity firm that became one of the most influential Tiger Cub franchises. Lone Pine is known for fundamental research and growth-oriented equity investing with risk management through shorting and portfolio construction. Even as the firm’s structure has evolved over time, Mandel’s name remains closely associated with institutional growth investing.

This Fund
S&P 500
This Quarter Est. Return
+14.55%
1 Year Est. Return
+99.7%
3 Year Est. Return
+351.82%
5 Year Est. Return
+339.1%
10 Year Est. Return
+2,106.14%
AUM
$22.4B
AUM Growth
+$1.86B
Cap. Flow
-$297M
Cap. Flow %
-1.33%
Top 10 Hldgs %
38.88%
Holding
71
New
12
Increased
19
Reduced
18
Closed
14

Top Buys

Rank Stock Value
1
BIDU icon
Baidu
BIDU
+$682M
2
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$589M
3
MA icon
Mastercard
MA
+$440M
4
DVA icon
DaVita
DVA
+$361M
5
MON
Monsanto Co
MON
+$316M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$700M
2
ISRG icon
Intuitive Surgical
ISRG
+$588M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$474M
4
RL icon
Ralph Lauren
RL
+$457M
5
NWSA
NEWS CORPORATION CL-A
NWSA
+$448M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 23.13%
2 Communication Services 15.61%
3 Technology 14.37%
4 Consumer Staples 8.61%
5 Financials 8.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOOG icon
26
Alphabet (Google) Class C
GOOG
$4.18T
$357M 1.59%
16,372,499
-21,437,051
-57% -$474M
TDG icon
27
TransDigm Group
TDG
$66.4B
$355M 1.58%
2,556,210
– –
TPR icon
28
Tapestry
TPR
$26B
$353M 1.58%
6,481,247
+622,900
+11% +$34.3M
BEAV
29
DELISTED
B/E Aerospace Inc
BEAV
$350M 1.56%
6,548,140
+594,631
+10% +$30.2M
TNL icon
30
Travel + Leisure Co
TNL
$4.39B
$348M 1.55%
12,639,213
+2,126,675
+20% +$58.2M
UNG icon
31
PUT
United States Natural Gas Fund
UNG
$506M
$302M 1.35%
+1,031,250
New +$310M
LBTYK icon
32
Liberty Global Class C
LBTYK
$3.55B
$299M 1.34%
9,799,608
+6,089,644
+164% +$183M
ONIT
33
Onity Group
ONIT
$301M
$294M 1.31%
351,818
-11,399
-3% -$8.6M
WDAY icon
34
Workday
WDAY
$49.4B
$285M 1.27%
3,522,285
– –
CHTR icon
35
Charter Communications
CHTR
$17.9B
$263M 1.17%
1,951,452
-1,723,422
-47% -$219M
LBTYA icon
36
Liberty Global Class A
LBTYA
$3.63B
$254M 1.14%
7,769,279
+2,895,822
+59% +$93.6M
DBI icon
37
Designer Brands
DBI
$292M
$254M 1.13%
5,957,442
+4,192,022
+237% +$169M
P
38
DELISTED
Pandora Media Inc
P
$253M 1.13%
+10,085,216
New +$206M
OII icon
39
Oceaneering
OII
$5.28B
$249M 1.11%
3,069,498
-398,363
-11% -$32M
VRSN icon
40
VeriSign
VRSN
$25.5B
$249M 1.11%
4,888,630
-2,610,223
-35% -$126M
AMZN icon
41
Amazon
AMZN
$2.79T
$242M 1.08%
+15,474,740
New +$231M
V icon
42
Visa
V
$693B
$238M 1.06%
4,974,060
-306,360
-6% -$14.2M
FWONA icon
43
Liberty Media Series A
FWONA
$24.2B
$237M 1.06%
9,071,873
-1,414,470
-13% -$35.5M
SEMG
44
DELISTED
SEMGROUP CORPORATION
SEMG
$223M 0.99%
3,906,318
– –
VXX
45
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$217M 0.97%
57,656
– –
SWI
46
DELISTED
SOLARWINDS INC COM STK (DE)
SWI
$200M 0.89%
+5,701,473
New +$223M
QCOM icon
47
CALL
Qualcomm
QCOM
$169B
$155M 0.69%
2,297,000
+1,722,000
+299% +$113M
CME icon
48
CALL
CME Group
CME
$98.9B
$148M 0.66%
2,000,000
– –
SHLD
49
PUT
DELISTED
Sears Holding Corporation
SHLD
$135M 0.6%
3,012,214
– –
GRFS
50
Grifois
GRFS
$5.44B
$134M 0.6%
8,907,000
+27,614
+0.3% +$429K
1
2
3

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Stephen Mandel's Q3 2013 Portfolio in Review

As of Q3 2013, Stephen Mandel held 71 positions worth $22.4B, up 9.1% from $20.5B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Stephen Mandel's Q3 2013 filing shows 12 new, 19 increased, 18 reduced and 14 closed positions. Its largest new stake was Baidu: 5,289,262 shares worth $821M. The largest sale was Booking.com, an estimated $700M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, down from 30% a quarter earlier, followed by Communication Services and Technology.

  • Stephen Mandel's largest Q3 2013 buy was Baidu: 5,289,262 shares worth $821M.
  • Stephen Mandel added most to Monsanto Co in Q3 2013, an estimated $316M increase.
  • Stephen Mandel's biggest Q3 2013 reduction was Booking.com, cutting an estimated $700M.
  • Stephen Mandel fully exited Intuitive Surgical in Q3 2013, selling an estimated $588M.
  • Stephen Mandel's ten largest holdings make up 39% of its $22.4B portfolio in Q3 2013.
  • Stephen Mandel opened 12 new positions and closed 14 in Q3 2013.
  • Stephen Mandel's portfolio value rose 9.1% quarter-over-quarter to $22.4B.

Based on Lone Pine Capital's 13F filing for Q3 2013, filed 14 Nov 2013.