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 |
O'Reilly Automotive
ORLY
|
+$696M |
| 2 |
Microsoft
MSFT
|
+$665M |
| 3 |
Mastercard
MA
|
+$551M |
| 4 |
Intercontinental Exchange
ICE
|
+$390M |
| 5 |
TransUnion
TRU
|
+$369M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nike
NKE
|
+$1.07B |
| 2 |
EA
Electronic Arts
EA
|
+$696M |
| 3 |
Visa
V
|
+$548M |
| 4 |
Booking.com
BKNG
|
+$529M |
| 5 |
Dollar Tree
DLTR
|
+$513M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 30.96% |
| 2 | Communication Services | 23.56% |
| 3 | Consumer Discretionary | 18.26% |
| 4 | Financials | 6.96% |
| 5 | Consumer Staples | 6.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
OPTU
26
Optimum Communications Inc
OPTU
$323M
| $271M | 1.38% |
+8,395,511
| New | +$278M |
|
27
Cheniere Energy
LNG
$57.3B
| $253M | 1.28% |
5,186,332
| – | – |
|
28
Advance Auto Parts
AAP
$2.57B
| $239M | 1.21% |
+2,048,852
| New | +$281M |
|
29
Salesforce
CRM
$171B
| $229M | 1.17% |
+2,648,428
| New | +$231M |
|
30
Snap
SNAP
$8.86B
| $130M | 0.66% |
7,599,408
+5,809,044
| +324% | +$117M |
|
31
Albemarle
ALB
$16.9B
| $122M | 0.62% |
1,158,452
-814,315
| -41% | -$88.6M |
|
32
Liberty Media Series C
FWONK
$26.3B
| $107M | 0.54% |
+3,019,935
| New | +$100M |
|
|
VXX
33
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $12.8M | 0.06% |
250,000
+50,000
| +25% | +$2.89M |
|
34
Align Technology
ALGN
$11.5B
| – | – |
-2,476,534
| Closed | -$284M |
|
|
35
Booking.com
BKNG
$158B
| – | – |
-7,427,250
| Closed | -$529M |
|
|
VISN
36
Vistance Networks Inc
VISN
$2.59B
| – | – |
-7,427,085
| Closed | -$310M |
|
|
37
Dollar Tree
DLTR
$25.3B
| – | – |
-6,544,364
| Closed | -$513M |
|
|
EA
38
DELISTED
Electronic Arts
EA
| – | – |
-7,779,975
| Closed | -$696M |
|
39
HDFC Bank
HDB
$121B
| – | – |
-5,248,996
| Closed | -$98.7M |
|
40
Humana
HUM
$45.5B
| – | – |
-1,184,119
| Closed | -$244M |
|
|
41
Nike
NKE
$60.5B
| – | – |
-19,159,688
| Closed | -$1.07B |
|
42
Ovintiv
OVV
$18.5B
| – | – |
-4,693,165
| Closed | -$275M |
|
|
43
Visa
V
$693B
| – | – |
-6,165,815
| Closed | -$548M |
|
|
RICE
44
DELISTED
Rice Energy Inc.
RICE
| – | – |
-13,704,768
| Closed | -$325M |
|
|
SHPG
45
DELISTED
Shire pic
SHPG
| – | – |
-1,714,306
| Closed | -$299M |
|
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Stephen Mandel's Q2 2017 Portfolio in Review
As of Q2 2017, Stephen Mandel held 45 positions worth $19.7B, up 3.5% from $19B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Stephen Mandel's Q2 2017 filing shows 11 new, 11 increased, 9 reduced and 12 closed positions. Its largest new stake was O'Reilly Automotive: 42,617,550 shares worth $621M. The largest sale was Nike, an estimated $1.07B.
By sector, the portfolio is most concentrated in Technology at 31% of assets, up from 26% a quarter earlier, followed by Communication Services and Consumer Discretionary.
- Stephen Mandel's largest Q2 2017 buy was O'Reilly Automotive: 42,617,550 shares worth $621M.
- Stephen Mandel added most to IQVIA in Q2 2017, an estimated $344M increase.
- Stephen Mandel's biggest Q2 2017 reduction was Charter Communications, cutting an estimated $439M.
- Stephen Mandel fully exited Nike in Q2 2017, selling an estimated $1.07B.
- Stephen Mandel's ten largest holdings make up 56% of its $19.7B portfolio in Q2 2017.
- Stephen Mandel opened 11 new positions and closed 12 in Q2 2017.
- Stephen Mandel's portfolio value rose 3.5% quarter-over-quarter to $19.7B.
Based on Lone Pine Capital's 13F filing for Q2 2017, filed 14 Aug 2017.