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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
+22.55%
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
$17.1B
AUM Growth
+$2.34B
Cap. Flow
-$533M
Cap. Flow %
-3.12%
Top 10 Hldgs %
56.09%
Holding
32
New
7
Increased
4
Reduced
14
Closed
3

Top Buys

Rank Stock Value
1
SPGI icon
S&P Global
SPGI
+$599M
2
UNP icon
Union Pacific
UNP
+$533M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$499M
4
DHI icon
D.R. Horton
DHI
+$257M
5
CRM icon
Salesforce
CRM
+$202M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$730M
2
PYPL icon
PayPal
PYPL
+$485M
3
META icon
Meta Platforms (Facebook)
META
+$291M
4
TRU icon
TransUnion
TRU
+$228M
5
NOW icon
ServiceNow
NOW
+$206M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 28.98%
2 Technology 21.29%
3 Industrials 15.02%
4 Healthcare 11.65%
5 Financials 10.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STNE icon
26
StoneCo
STNE
$2.16B
$85.4M 0.5%
2,078,303
-1,038,172
-33% -$28.2M
WWE
27
DELISTED
World Wrestling Entertainment
WWE
$13.6M 0.08%
+157,091
New +$13.2M
XYZ
28
Block Inc
XYZ
$49.4B
$8.99M 0.05%
+120,000
New +$8.7M
SHOP icon
29
Shopify
SHOP
$192B
$8.27M 0.05%
+400,000
New +$7.06M
NIO icon
30
NIO
NIO
$11.6B
– –
-3,736,290
Closed -$20.4M
PYPL icon
31
PayPal
PYPL
$52.7B
– –
-5,762,509
Closed -$485M
ATVI
32
DELISTED
Activision Blizzard
ATVI
– –
-15,671,412
Closed -$730M
1
2

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Stephen Mandel's Q1 2019 Portfolio in Review

As of Q1 2019, Stephen Mandel held 32 positions worth $17.1B, up 16% from $14.8B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Stephen Mandel withdrew a net $533M in Q1 2019, closing 3 positions and reducing 14 holdings. Its most notable exit was Activision Blizzard, an estimated $730M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 29% of assets, up from 26% a quarter earlier, followed by Technology and Industrials.

Against the trend, Stephen Mandel opened a new position in S&P Global worth $651M.

  • Stephen Mandel's largest Q1 2019 buy was S&P Global: 3,091,361 shares worth $651M.
  • Stephen Mandel added most to Salesforce in Q1 2019, an estimated $202M increase.
  • Stephen Mandel's biggest Q1 2019 reduction was Meta Platforms (Facebook), cutting an estimated $291M.
  • Stephen Mandel fully exited Activision Blizzard in Q1 2019, selling an estimated $730M.
  • Stephen Mandel's ten largest holdings make up 56% of its $17.1B portfolio in Q1 2019.
  • Stephen Mandel opened 7 new positions and closed 3 in Q1 2019.
  • Stephen Mandel's portfolio value rose 16% quarter-over-quarter to $17.1B.

Based on Lone Pine Capital's 13F filing for Q1 2019, filed 15 May 2019.