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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
+3.56%
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
$25.6B
AUM Growth
+$854M
Cap. Flow
+$283M
Cap. Flow %
1.11%
Top 10 Hldgs %
42.92%
Holding
61
New
8
Increased
17
Reduced
12
Closed
13

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$634M
2
CHTR icon
Charter Communications
CHTR
+$492M
3
LNG icon
Cheniere Energy
LNG
+$483M
4
MHK icon
Mohawk Industries
MHK
+$425M
5
CPRI icon
Capri Holdings
CPRI
+$356M

Top Sells

Rank Stock Value
1
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$564M
2
CTSH icon
Cognizant
CTSH
+$538M
3
LBTYK icon
Liberty Global Class C
LBTYK
+$472M
4
ICE icon
Intercontinental Exchange
ICE
+$400M
5
AN icon
AutoNation
AN
+$302M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.9%
2 Technology 17.37%
3 Communication Services 15.6%
4 Healthcare 11.38%
5 Financials 10.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MHK icon
26
Mohawk Industries
MHK
$9.23B
$417M 1.63%
+3,090,081
New +$425M
LPLA icon
27
LPL Financial
LPLA
$28.5B
$392M 1.53%
8,518,366
– –
TDG icon
28
TransDigm Group
TDG
$66.4B
$329M 1.29%
1,786,836
+807,441
+82% +$144M
UAA icon
29
Under Armour
UAA
$2.32B
$312M 1.22%
9,036,940
-460,988
-5% -$15.4M
ABBV icon
30
AbbVie
ABBV
$468B
$303M 1.18%
+5,247,201
New +$291M
SAVE
31
DELISTED
Spirit Airlines, Inc.
SAVE
$295M 1.15%
4,262,432
+761,672
+22% +$52.2M
WSM icon
32
Williams-Sonoma
WSM
$28B
$292M 1.14%
8,781,154
+5,814,796
+196% +$201M
WDAY icon
33
Workday
WDAY
$49.4B
$290M 1.13%
3,516,060
– –
JAZZ icon
34
Jazz Pharmaceuticals
JAZZ
$16.5B
$287M 1.12%
1,788,607
-298,520
-14% -$45.9M
HUM icon
35
Humana
HUM
$45.5B
$283M 1.11%
+2,174,122
New +$276M
SWI
36
DELISTED
SOLARWINDS INC COM STK (DE)
SWI
$274M 1.07%
6,516,396
– –
ICE icon
37
Intercontinental Exchange
ICE
$90.5B
$256M 1%
6,574,840
-10,443,725
-61% -$400M
TRIP icon
38
TripAdvisor
TRIP
$1.17B
$253M 0.99%
2,771,438
+1,677,351
+153% +$166M
ADSK icon
39
Autodesk
ADSK
$53.6B
$243M 0.95%
+4,401,445
New +$241M
VXX
40
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$196M 0.77%
393,750
– –
LBTYK icon
41
Liberty Global Class C
LBTYK
$3.55B
$183M 0.71%
5,513,767
-14,024,599
-72% -$472M
TWX
42
DELISTED
Time Warner Inc
TWX
$129M 0.5%
+1,716,105
New +$133M
CMCSA icon
43
CALL
Comcast
CMCSA
$95.3B
$98.4M 0.38%
3,660,000
– –
INTC icon
44
PUT
Intel
INTC
$476B
$80.8M 0.32%
2,320,000
– –
GAP
45
CALL
The Gap Inc
GAP
$7.13B
$72.6M 0.28%
1,741,200
– –
SHLD
46
PUT
DELISTED
Sears Holding Corporation
SHLD
$70.1M 0.27%
3,207,625
+518,696
+19% +$16.9M
ANET icon
47
Arista Networks
ANET
$238B
$63.8M 0.25%
11,556,512
+3,090,592
+37% +$14.7M
ICE icon
48
CALL
Intercontinental Exchange
ICE
$90.5B
$46.8M 0.18%
+1,200,000
New +$46M
AAL icon
49
American Airlines Group
AAL
$9.15B
– –
-2,684,674
Closed -$115M
AN icon
50
AutoNation
AN
$6.6B
– –
-5,067,310
Closed -$302M
1
2
3

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Stephen Mandel's Q3 2014 Portfolio in Review

As of Q3 2014, Stephen Mandel held 61 positions worth $25.6B, up 3.5% from $24.7B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Stephen Mandel's Q3 2014 filing shows 8 new, 17 increased, 12 reduced and 13 closed positions. Its largest new stake was Meta Platforms (Facebook): 8,638,513 shares worth $683M. The largest sale was Twenty-First Century Fox, Inc. Class A, an estimated $564M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 21% a quarter earlier, followed by Technology and Communication Services.

  • Stephen Mandel's largest Q3 2014 buy was Meta Platforms (Facebook): 8,638,513 shares worth $683M.
  • Stephen Mandel added most to Cheniere Energy in Q3 2014, an estimated $483M increase.
  • Stephen Mandel's biggest Q3 2014 reduction was Cognizant, cutting an estimated $538M.
  • Stephen Mandel fully exited Twenty-First Century Fox, Inc. Class A in Q3 2014, selling an estimated $564M.
  • Stephen Mandel's ten largest holdings make up 43% of its $25.6B portfolio in Q3 2014.
  • Stephen Mandel opened 8 new positions and closed 13 in Q3 2014.
  • Stephen Mandel's portfolio value rose 3.5% quarter-over-quarter to $25.6B.

Based on Lone Pine Capital's 13F filing for Q3 2014, filed 14 Nov 2014.