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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
-4.63%
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
$24.6B
AUM Growth
-$2.17B
Cap. Flow
-$421M
Cap. Flow %
-1.72%
Top 10 Hldgs %
41.87%
Holding
66
New
10
Increased
22
Reduced
15
Closed
14

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$979M
2
STZ icon
Constellation Brands
STZ
+$578M
3
EA
Electronic Arts
EA
+$560M
4
BHC icon
Bausch Health
BHC
+$502M
5
SCHW
Charles Schwab
SCHW
+$406M

Top Sells

Rank Stock Value
1
LOW icon
Lowe's Companies
LOW
+$472M
2
HCA icon
HCA Healthcare
HCA
+$454M
3
ILMN icon
Illumina
ILMN
+$430M
4
HOUS
Anywhere Real Estate
HOUS
+$411M
5
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
+$364M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.09%
2 Healthcare 17.87%
3 Technology 13.15%
4 Communication Services 11.03%
5 Financials 9.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SCHW
26
Charles Schwab
SCHW
$194B
$383M 1.56%
13,396,145
+12,647,625
+1,690% +$406M
MHK icon
27
Mohawk Industries
MHK
$9.23B
$358M 1.46%
1,971,450
+12,885
+0.7% +$2.55M
DLTR icon
28
Dollar Tree
DLTR
$25.3B
$343M 1.4%
+5,139,395
New +$386M
HDB icon
29
HDFC Bank
HDB
$121B
$327M 1.33%
21,397,172
+13,338,692
+166% +$201M
AXP icon
30
CALL
American Express
AXP
$227B
$319M 1.3%
+4,300,000
New +$331M
HZNP
31
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$309M 1.26%
15,600,988
+12,396,016
+387% +$392M
DEO icon
32
CALL
Diageo
DEO
$52.6B
$307M 1.25%
2,850,000
– –
SBAC icon
33
SBA Communications
SBAC
$19.4B
$293M 1.2%
2,801,753
-1,782,586
-39% -$208M
MBLY
34
DELISTED
Mobileye N.V.
MBLY
$291M 1.18%
+6,394,066
New +$351M
ATVI
35
DELISTED
Activision Blizzard
ATVI
$287M 1.17%
+9,293,749
New +$259M
VMC icon
36
Vulcan Materials
VMC
$35.8B
$286M 1.16%
3,201,896
-258,203
-7% -$24M
ENDP
37
DELISTED
Endo International plc
ENDP
$267M 1.09%
3,859,641
+289,524
+8% +$23.2M
FNF icon
38
Fidelity National Financial
FNF
$12.7B
$231M 0.94%
9,380,048
-4,552,502
-33% -$119M
HBI
39
DELISTED
Hanesbrands
HBI
$223M 0.91%
7,689,684
+101,579
+1% +$3.15M
TAP icon
40
Molson Coors Class B
TAP
$8.01B
$161M 0.66%
+1,944,601
New +$141M
VXX
41
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$141M 0.57%
343,750
– –
ANET icon
42
Arista Networks
ANET
$238B
$133M 0.54%
34,814,800
+4,480,000
+15% +$21.3M
EXPE icon
43
Expedia Group
EXPE
$38.6B
$129M 0.52%
+1,094,269
New +$126M
KSU
44
DELISTED
Kansas City Southern
KSU
$127M 0.52%
1,398,480
+1,167,260
+505% +$110M
GRA
45
DELISTED
W.R. Grace & Co.
GRA
$126M 0.51%
1,351,301
+144,500
+12% +$14.3M
FNF icon
46
CALL
Fidelity National Financial
FNF
$12.7B
$67.9M 0.28%
2,758,366
-144,040
-5% -$3.77M
SHLD
47
PUT
DELISTED
Sears Holding Corporation
SHLD
$45.4M 0.19%
2,010,000
-153,100
-7% -$3.69M
HOUS
48
DELISTED
Anywhere Real Estate
HOUS
$36.8M 0.15%
979,197
-9,427,281
-91% -$411M
CSX icon
49
CALL
CSX Corp
CSX
$95.6B
$35.8M 0.15%
3,993,600
-4,286,400
-52% -$42.1M
MSFT icon
50
CALL
Microsoft
MSFT
$3.59T
$34.3M 0.14%
775,600
-2,053,200
-73% -$92.2M
1
2
3

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Stephen Mandel's Q3 2015 Portfolio in Review

As of Q3 2015, Stephen Mandel held 66 positions worth $24.6B, down 8.1% from $26.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Stephen Mandel's Q3 2015 filing shows 10 new, 22 increased, 15 reduced and 14 closed positions. Its largest new stake was Amazon: 38,740,040 shares worth $992M. The largest sale was Lowe's Companies, an estimated $472M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 20% a quarter earlier, followed by Healthcare and Technology.

  • Stephen Mandel's largest Q3 2015 buy was Amazon: 38,740,040 shares worth $992M.
  • Stephen Mandel added most to Electronic Arts in Q3 2015, an estimated $560M increase.
  • Stephen Mandel's biggest Q3 2015 reduction was Illumina, cutting an estimated $430M.
  • Stephen Mandel fully exited Lowe's Companies in Q3 2015, selling an estimated $472M.
  • Stephen Mandel's ten largest holdings make up 42% of its $24.6B portfolio in Q3 2015.
  • Stephen Mandel opened 10 new positions and closed 14 in Q3 2015.
  • Stephen Mandel's portfolio value fell 8.1% quarter-over-quarter to $24.6B.

Based on Lone Pine Capital's 13F filing for Q3 2015, filed 16 Nov 2015.