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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
-1.87%
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
$19.2B
AUM Growth
-$3.24B
Cap. Flow
-$2.45B
Cap. Flow %
-12.77%
Top 10 Hldgs %
44.65%
Holding
47
New
7
Increased
12
Reduced
17
Closed
6

Top Buys

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$502M
2
PNC icon
PNC Financial Services
PNC
+$436M
3
BAC icon
Bank of America
BAC
+$417M
4
V icon
Visa
V
+$339M
5
GEN icon
Gen Digital
GEN
+$326M

Top Sells

Rank Stock Value
1
EBAY icon
eBay
EBAY
+$696M
2
MNST icon
Monster Beverage
MNST
+$609M
3
YUM icon
Yum! Brands
YUM
+$569M
4
DLTR icon
Dollar Tree
DLTR
+$489M
5
HLT icon
Hilton Worldwide
HLT
+$449M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.66%
2 Technology 20.67%
3 Communication Services 18.52%
4 Financials 11.96%
5 Consumer Staples 8.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHPG
26
DELISTED
Shire pic
SHPG
$324M 1.69%
1,904,306
+209,631
+12% +$37.2M
GEN icon
27
Gen Digital
GEN
$17.3B
$317M 1.65%
+13,271,908
New +$326M
LULU icon
28
lululemon athletica
LULU
$13.7B
$293M 1.53%
4,504,208
-1,081,834
-19% -$64.5M
EBAY icon
29
eBay
EBAY
$46.3B
$285M 1.49%
9,605,806
-23,558,763
-71% -$696M
TV icon
30
Televisa
TV
$1.47B
$283M 1.48%
13,533,097
-4,544,714
-25% -$104M
OVV icon
31
Ovintiv
OVV
$18.5B
$245M 1.28%
+4,177,687
New +$238M
ICE icon
32
Intercontinental Exchange
ICE
$90.5B
$238M 1.24%
4,225,637
-1,810,508
-30% -$100M
ALGN icon
33
Align Technology
ALGN
$11.5B
$238M 1.24%
2,476,534
+39,614
+2% +$3.68M
LNG icon
34
Cheniere Energy
LNG
$57.3B
$215M 1.12%
5,186,332
-5,555,085
-52% -$224M
VISN
35
Vistance Networks Inc
VISN
$2.59B
$141M 0.74%
3,792,871
– –
RICE
36
DELISTED
Rice Energy Inc.
RICE
$79.7M 0.42%
+3,735,035
New +$89M
HDB icon
37
HDFC Bank
HDB
$121B
$79.6M 0.42%
5,248,996
-10,890,296
-67% -$182M
SHLD
38
PUT
DELISTED
Sears Holding Corporation
SHLD
$32.5M 0.17%
3,500,000
– –
VXX
39
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$12.8M 0.07%
+125,000
New +$15M
UVXY icon
40
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$268M
– –
0
– –
VXX
41
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$2.55M 0.01%
25,000
– –
HCA icon
42
HCA Healthcare
HCA
$92.9B
– –
-1,669,543
Closed -$126M
HLT icon
43
Hilton Worldwide
HLT
$73.5B
– –
-6,532,610
Closed -$449M
KMI icon
44
Kinder Morgan
KMI
$69B
– –
-12,334,772
Closed -$285M
MHK icon
45
Mohawk Industries
MHK
$9.23B
– –
-1,176,827
Closed -$236M
MNST icon
46
Monster Beverage
MNST
$93.6B
– –
-49,793,916
Closed -$609M
YUM icon
47
Yum! Brands
YUM
$41.8B
– –
-8,715,733
Closed -$569M
1
2

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Stephen Mandel's Q4 2016 Portfolio in Review

As of Q4 2016, Stephen Mandel held 47 positions worth $19.2B, down 14% from $22.4B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Stephen Mandel withdrew a net $2.45B in Q4 2016, closing 6 positions and reducing 17 holdings. Its most notable exit was Monster Beverage, an estimated $609M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, down from 34% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Stephen Mandel opened a new position in PayPal worth $493M.

  • Stephen Mandel's largest Q4 2016 buy was PayPal: 12,499,315 shares worth $493M.
  • Stephen Mandel added most to Visa in Q4 2016, an estimated $339M increase.
  • Stephen Mandel's biggest Q4 2016 reduction was eBay, cutting an estimated $696M.
  • Stephen Mandel fully exited Monster Beverage in Q4 2016, selling an estimated $609M.
  • Stephen Mandel's ten largest holdings make up 45% of its $19.2B portfolio in Q4 2016.
  • Stephen Mandel opened 7 new positions and closed 6 in Q4 2016.
  • Stephen Mandel's portfolio value fell 14% quarter-over-quarter to $19.2B.

Based on Lone Pine Capital's 13F filing for Q4 2016, filed 14 Feb 2017.