Stephen Mandel Lone Pine Capital
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Illumina
ILMN
|
+$560M |
| 2 |
Microsoft
MSFT
|
+$553M |
| 3 |
Charter Communications
CHTR
|
+$369M |
| 4 |
HBI
Hanesbrands
HBI
|
+$248M |
| 5 |
WBA
Walgreens Boots Alliance
WBA
|
+$225M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baidu
BIDU
|
+$1.1B |
| 2 |
Apple
AAPL
|
+$851M |
| 3 |
Capri Holdings
CPRI
|
+$738M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$575M |
| 5 |
Vipshop
VIPS
|
+$322M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 20.01% |
| 2 | Healthcare | 18.37% |
| 3 | Technology | 13.65% |
| 4 | Financials | 9.42% |
| 5 | Communication Services | 7.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
DaVita
DVA
$11.1B
| $434M | 1.62% |
5,455,774
| – | – |
|
27
Mohawk Industries
MHK
$9.23B
| $374M | 1.4% |
1,958,565
| – | – |
|
|
MHFI
28
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $364M | 1.36% |
3,625,834
-949,146
| -21% | -$99.2M |
|
29
Ulta Beauty
ULTA
$22.4B
| $361M | 1.35% |
2,337,670
-136,272
| -6% | -$20.9M |
|
30
Fidelity National Financial
FNF
$12.7B
| $358M | 1.34% |
13,932,550
+2,617,638
| +23% | +$67.6M |
|
31
CALL
Diageo
DEO
$52.6B
| $331M | 1.24% |
+2,850,000
| New | +$324M |
|
32
Autodesk
ADSK
$53.6B
| $308M | 1.15% |
6,158,948
-1,945,038
| -24% | -$111M |
|
33
Vulcan Materials
VMC
$35.8B
| $290M | 1.09% |
3,460,099
+2,039,102
| +143% | +$178M |
|
|
SUNE
34
DELISTED
SUNEDISON, INC COM
SUNE
| $289M | 1.08% |
9,663,802
-1,548,983
| -14% | -$44.1M |
|
|
ENDP
35
DELISTED
Endo International plc
ENDP
| $284M | 1.06% |
3,570,117
+300,000
| +9% | +$25.9M |
|
|
HBI
36
DELISTED
Hanesbrands
HBI
| $253M | 0.95% |
+7,588,105
| New | +$248M |
|
37
Advance Auto Parts
AAP
$2.57B
| $194M | 0.73% |
+1,217,455
| New | +$186M |
|
38
CALL
Williams Companies
WMB
$86.2B
| $189M | 0.71% |
3,285,900
+1,500,000
| +84% | +$77.3M |
|
39
Liberty Media Series C
FWONK
$26.3B
| $164M | 0.61% |
6,458,077
+79,927
| +1% | +$2.15M |
|
40
Arista Networks
ANET
$238B
| $155M | 0.58% |
30,334,800
+6,481,600
| +27% | +$29M |
|
41
MGIC Investment
MTG
$6.34B
| $141M | 0.53% |
12,403,003
| – | – |
|
|
42
CALL
Microsoft
MSFT
$3.59T
| $125M | 0.47% |
2,828,800
| – | – |
|
43
HDFC Bank
HDB
$121B
| $122M | 0.46% |
8,058,480
| – | – |
|
|
GRA
44
DELISTED
W.R. Grace & Co.
GRA
| $121M | 0.45% |
1,206,801
-1,695,756
| -58% | -$167M |
|
|
SWI
45
DELISTED
SOLARWINDS INC COM STK (DE)
SWI
| $116M | 0.43% |
2,518,528
+132,100
| +6% | +$6.49M |
|
|
HZNP
46
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $111M | 0.42% |
+3,204,972
| New | +$97.8M |
|
|
VXX
47
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $111M | 0.41% |
343,750
-383,375
| -53% | -$125M |
|
48
Liberty Media Series A
FWONA
$24.2B
| $109M | 0.41% |
4,481,355
+374,140
| +9% | +$9.66M |
|
49
CALL
CSX Corp
CSX
$95.6B
| $90.1M | 0.34% |
+8,280,000
| New | +$96M |
|
|
50
CALL
Fidelity National Financial
FNF
$12.7B
| $74.5M | 0.28% |
2,902,406
| – | – |
|
Similar funds
Stephen Mandel's Q2 2015 Portfolio in Review
As of Q2 2015, Stephen Mandel held 65 positions worth $26.7B, up 1.1% from $26.4B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Stephen Mandel's Q2 2015 filing shows 11 new, 20 increased, 14 reduced and 9 closed positions. Its largest new stake was Hanesbrands: 7,588,105 shares worth $253M. The largest sale was Baidu, an estimated $1.1B.
By sector, the portfolio is most concentrated in Consumer Discretionary at 20% of assets, down from 22% a quarter earlier, followed by Healthcare and Technology.
- Stephen Mandel's largest Q2 2015 buy was Hanesbrands: 7,588,105 shares worth $253M.
- Stephen Mandel added most to Illumina in Q2 2015, an estimated $560M increase.
- Stephen Mandel's biggest Q2 2015 reduction was Mastercard, cutting an estimated $298M.
- Stephen Mandel fully exited Baidu in Q2 2015, selling an estimated $1.1B.
- Stephen Mandel's ten largest holdings make up 45% of its $26.7B portfolio in Q2 2015.
- Stephen Mandel opened 11 new positions and closed 9 in Q2 2015.
- Stephen Mandel's portfolio value rose 1.1% quarter-over-quarter to $26.7B.
Based on Lone Pine Capital's 13F filing for Q2 2015, filed 14 Aug 2015.