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 |
Dollar Tree
DLTR
|
+$665M |
| 2 |
Meta Platforms (Facebook)
META
|
+$593M |
| 3 |
SBA Communications
SBAC
|
+$561M |
| 4 |
TSMC
TSM
|
+$538M |
| 5 |
Microsoft
MSFT
|
+$228M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AB InBev
BUD
|
+$586M |
| 2 |
Charter Communications
CHTR
|
+$580M |
| 3 |
Mastercard
MA
|
+$509M |
| 4 |
Equinix
EQIX
|
+$509M |
| 5 |
Salesforce
CRM
|
+$497M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.19% |
| 2 | Consumer Discretionary | 20.39% |
| 3 | Communication Services | 15.09% |
| 4 | Financials | 9.99% |
| 5 | Healthcare | 9.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
T-Mobile US
TMUS
$196B
| $213M | 1.08% |
+3,486,629
| New | +$218M |
|
|
XYZ
27
Block Inc
XYZ
$49.4B
| $133M | 0.67% |
+2,694,573
| New | +$124M |
|
28
PagSeguro Digital
PAGS
$2.38B
| $69.8M | 0.35% |
+1,821,925
| New | +$58.5M |
|
|
EXAS
29
DELISTED
Exact Sciences
EXAS
| $52.3M | 0.27% |
+1,298,001
| New | +$63.3M |
|
30
Sea Limited
SE
$72B
| $44.7M | 0.23% |
3,963,222
+740,000
| +23% | +$8.83M |
|
31
Agilent Technologies
A
$44.9B
| – | – |
-3,607,622
| Closed | -$242M |
|
|
32
AB InBev
BUD
$155B
| – | – |
-5,254,307
| Closed | -$586M |
|
|
33
Charter Communications
CHTR
$17.9B
| – | – |
-1,727,722
| Closed | -$580M |
|
|
34
Salesforce
CRM
$171B
| – | – |
-4,864,570
| Closed | -$497M |
|
|
35
Equinix
EQIX
$105B
| – | – |
-1,122,529
| Closed | -$509M |
|
|
36
Mastercard
MA
$509B
| – | – |
-3,362,667
| Closed | -$509M |
|
37
Televisa
TV
$1.47B
| – | – |
-20,091,736
| Closed | -$375M |
|
|
VXX
38
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| – | – |
-250,000
| Closed | -$6.98M |
|
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Stephen Mandel's Q1 2018 Portfolio in Review
As of Q1 2018, Stephen Mandel held 38 positions worth $19.7B, up 3.1% from $19.2B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Stephen Mandel's Q1 2018 filing shows 7 new, 13 increased, 9 reduced and 8 closed positions. Its largest new stake was Dollar Tree: 6,344,385 shares worth $602M. The largest sale was AB InBev, an estimated $586M.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Stephen Mandel's largest Q1 2018 buy was Dollar Tree: 6,344,385 shares worth $602M.
- Stephen Mandel added most to Meta Platforms (Facebook) in Q1 2018, an estimated $593M increase.
- Stephen Mandel's biggest Q1 2018 reduction was Amazon, cutting an estimated $275M.
- Stephen Mandel fully exited AB InBev in Q1 2018, selling an estimated $586M.
- Stephen Mandel's ten largest holdings make up 53% of its $19.7B portfolio in Q1 2018.
- Stephen Mandel opened 7 new positions and closed 8 in Q1 2018.
- Stephen Mandel's portfolio value rose 3.1% quarter-over-quarter to $19.7B.
Based on Lone Pine Capital's 13F filing for Q1 2018, filed 15 May 2018.