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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
+9.77%
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
$23.4B
AUM Growth
-$1.15B
Cap. Flow
-$1.87B
Cap. Flow %
-7.97%
Top 10 Hldgs %
44.96%
Holding
60
New
8
Increased
16
Reduced
16
Closed
13

Top Buys

Rank Stock Value
1
DLTR icon
Dollar Tree
DLTR
+$563M
2
WMB icon
Williams Companies
WMB
+$394M
3
NOC icon
Northrop Grumman
NOC
+$391M
4
ADSK icon
Autodesk
ADSK
+$333M
5
PXD
Pioneer Natural Resource Co.
PXD
+$329M

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$709M
2
DVA icon
DaVita
DVA
+$573M
3
JD icon
JD.com
JD
+$487M
4
SCHW
Charles Schwab
SCHW
+$383M
5
CHTR icon
Charter Communications
CHTR
+$337M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.67%
2 Technology 16.09%
3 Communication Services 12.65%
4 Healthcare 10.6%
5 Consumer Staples 9.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MHK icon
26
Mohawk Industries
MHK
$9.23B
$357M 1.53%
1,886,750
-84,700
-4% -$16.3M
ADSK icon
27
Autodesk
ADSK
$53.6B
$349M 1.49%
+5,732,050
New +$333M
HZNP
28
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$338M 1.44%
15,600,988
– –
LULU icon
29
lululemon athletica
LULU
$13.7B
$333M 1.42%
+6,348,148
New +$320M
GOOGL icon
30
Alphabet (Google) Class A
GOOGL
$4.22T
$315M 1.34%
+8,085,940
New +$299M
GOOG icon
31
Alphabet (Google) Class C
GOOG
$4.18T
$313M 1.34%
+8,252,320
New +$296M
DEO icon
32
CALL
Diageo
DEO
$52.6B
$311M 1.33%
2,850,000
– –
PXD
33
DELISTED
Pioneer Natural Resource Co.
PXD
$300M 1.28%
+2,395,261
New +$329M
AXP icon
34
CALL
American Express
AXP
$227B
$299M 1.28%
4,300,000
– –
ESRX
35
DELISTED
Express Scripts Holding Company
ESRX
$279M 1.19%
+3,193,180
New +$274M
VMC icon
36
Vulcan Materials
VMC
$35.8B
$276M 1.18%
2,902,347
-299,549
-9% -$29M
HBI
37
DELISTED
Hanesbrands
HBI
$275M 1.17%
9,336,411
+1,646,727
+21% +$49.4M
TAP icon
38
Molson Coors Class B
TAP
$8.01B
$221M 0.95%
2,354,601
+410,000
+21% +$37M
BUD icon
39
AB InBev
BUD
$155B
$186M 0.79%
+1,487,392
New +$180M
UVXY icon
40
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$268M
$170M 0.73%
5
-5
-50% -$193M
ANET icon
41
Arista Networks
ANET
$238B
$169M 0.72%
34,814,800
– –
FNF icon
42
CALL
Fidelity National Financial
FNF
$12.7B
$60.7M 0.26%
2,520,700
-237,666
-9% -$5.8M
VXX
43
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$60.3M 0.26%
187,500
-156,250
-45% -$49.7M
SHLD
44
PUT
DELISTED
Sears Holding Corporation
SHLD
$41.3M 0.18%
2,010,000
– –
CSX icon
45
CALL
CSX Corp
CSX
$95.6B
$13.9M 0.06%
1,602,900
-2,390,700
-60% -$21.7M
DEO icon
46
Diageo
DEO
$52.6B
$140K ﹤0.01%
1,281
+281
+28% +$31.7K
AXP icon
47
American Express
AXP
$227B
$89K ﹤0.01%
1,281
+281
+28% +$20.4K
CHTR icon
48
CALL
Charter Communications
CHTR
$17.9B
– –
-3,050,000
Closed -$536M
DVA icon
49
DaVita
DVA
$11.1B
– –
-7,918,998
Closed -$573M
EXPE icon
50
Expedia Group
EXPE
$38.6B
– –
-1,094,269
Closed -$129M
1
2
3

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Stephen Mandel's Q4 2015 Portfolio in Review

As of Q4 2015, Stephen Mandel held 60 positions worth $23.4B, down 4.7% from $24.6B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Stephen Mandel withdrew a net $1.87B in Q4 2015, closing 13 positions and reducing 16 holdings. Its most notable exit was Allergan plc, an estimated $709M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, up from 22% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Stephen Mandel opened a new position in Northrop Grumman worth $403M.

  • Stephen Mandel's largest Q4 2015 buy was Northrop Grumman: 2,132,094 shares worth $403M.
  • Stephen Mandel added most to Dollar Tree in Q4 2015, an estimated $563M increase.
  • Stephen Mandel's biggest Q4 2015 reduction was JD.com, cutting an estimated $487M.
  • Stephen Mandel fully exited Allergan plc in Q4 2015, selling an estimated $709M.
  • Stephen Mandel's ten largest holdings make up 45% of its $23.4B portfolio in Q4 2015.
  • Stephen Mandel opened 8 new positions and closed 13 in Q4 2015.
  • Stephen Mandel's portfolio value fell 4.7% quarter-over-quarter to $23.4B.

Based on Lone Pine Capital's 13F filing for Q4 2015, filed 16 Feb 2016.