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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
-18.08%
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
$14.8B
AUM Growth
-$4.67B
Cap. Flow
-$1.61B
Cap. Flow %
-10.87%
Top 10 Hldgs %
60.84%
Holding
31
New
6
Increased
6
Reduced
10
Closed
6

Top Buys

Rank Stock Value
1
TIF
Tiffany & Co.
TIF
+$691M
2
AMZN icon
Amazon
AMZN
+$653M
3
BKNG icon
Booking.com
BKNG
+$648M
4
MA icon
Mastercard
MA
+$585M
5
ADSK icon
Autodesk
ADSK
+$518M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.06B
2
EA
Electronic Arts
EA
+$947M
3
NVDA icon
NVIDIA
NVDA
+$628M
4
FDC
First Data Corporation
FDC
+$536M
5
UNP icon
Union Pacific
UNP
+$525M

Sector Composition

Rank Sector Weight
1 Technology 27.26%
2 Consumer Discretionary 26.44%
3 Healthcare 12.09%
4 Industrials 11.73%
5 Financials 10.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EA
26
DELISTED
Electronic Arts
EA
– –
-7,855,868
Closed -$947M
GOOG icon
27
Alphabet (Google) Class C
GOOG
$4.18T
– –
-17,825,980
Closed -$1.06B
NVDA icon
28
NVIDIA
NVDA
$5.2T
– –
-89,410,720
Closed -$628M
UNP icon
29
Union Pacific
UNP
$183B
– –
-3,224,826
Closed -$525M
CPAY icon
30
Corpay
CPAY
$27.4B
– –
-504,075
Closed -$115M
FDC
31
DELISTED
First Data Corporation
FDC
– –
-21,911,495
Closed -$536M
1
2

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Stephen Mandel's Q4 2018 Portfolio in Review

As of Q4 2018, Stephen Mandel held 31 positions worth $14.8B, down 24% from $19.4B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Stephen Mandel withdrew a net $1.61B in Q4 2018, closing 6 positions and reducing 10 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $1.06B position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 30% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Stephen Mandel opened a new position in Tiffany & Co. worth $546M.

  • Stephen Mandel's largest Q4 2018 buy was Tiffany & Co.: 6,776,002 shares worth $546M.
  • Stephen Mandel added most to Amazon in Q4 2018, an estimated $653M increase.
  • Stephen Mandel's biggest Q4 2018 reduction was Alibaba, cutting an estimated $521M.
  • Stephen Mandel fully exited Alphabet (Google) Class C in Q4 2018, selling an estimated $1.06B.
  • Stephen Mandel's ten largest holdings make up 61% of its $14.8B portfolio in Q4 2018.
  • Stephen Mandel opened 6 new positions and closed 6 in Q4 2018.
  • Stephen Mandel's portfolio value fell 24% quarter-over-quarter to $14.8B.

Based on Lone Pine Capital's 13F filing for Q4 2018, filed 14 Feb 2019.