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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
-12.21%
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
$16.9B
AUM Growth
-$2.01B
Cap. Flow
+$391M
Cap. Flow %
2.32%
Top 10 Hldgs %
52.95%
Holding
53
New
10
Increased
17
Reduced
12
Closed
14

Top Buys

Rank Stock Value
1
V icon
Visa
V
+$627M
2
HWM icon
Howmet Aerospace
HWM
+$560M
3
BBWI icon
Bath & Body Works
BBWI
+$516M
4
CVNA icon
Carvana
CVNA
+$317M
5
GPN icon
Global Payments
GPN
+$312M

Top Sells

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$673M
2
UNP icon
Union Pacific
UNP
+$584M
3
MELI icon
Mercado Libre
MELI
+$555M
4
DPZ icon
Domino's
DPZ
+$509M
5
IQV icon
IQVIA
IQV
+$476M

Sector Composition

Rank Sector Weight
1 Technology 28.19%
2 Consumer Discretionary 22.63%
3 Communication Services 13.46%
4 Industrials 12.9%
5 Healthcare 10.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TDG icon
26
TransDigm Group
TDG
$66.4B
$248M 1.47%
775,953
-478,475
-38% -$261M
HLT icon
27
Hilton Worldwide
HLT
$73.5B
$201M 1.2%
+2,952,652
New +$288M
TEAM icon
28
Atlassian
TEAM
$43.5B
$191M 1.13%
1,388,586
-1,411,174
-50% -$197M
DAY
29
DELISTED
Dayforce
DAY
$162M 0.96%
+3,244,680
New +$215M
UAA icon
30
Under Armour
UAA
$2.32B
$161M 0.95%
17,431,613
+8,452,056
+94% +$136M
PPLI
31
People Inc
PPLI
$2.86B
$146M 0.86%
4,543,566
+2,318,054
+104% +$91.8M
LYV icon
32
Live Nation Entertainment
LYV
$42.4B
$138M 0.82%
+3,046,095
New +$188M
HUBS icon
33
HubSpot
HUBS
$12B
$103M 0.61%
776,490
+550,843
+244% +$91.5M
CDNS icon
34
Cadence Design Systems
CDNS
$87.9B
$85.1M 0.51%
+1,288,594
New +$89.4M
UA icon
35
Under Armour Class C
UA
$2.25B
$79.7M 0.47%
+9,890,481
New +$142M
PLAN
36
DELISTED
Anaplan, Inc.
PLAN
$66.6M 0.4%
+2,200,000
New +$110M
CHWY icon
37
Chewy
CHWY
$9.83B
$48.7M 0.29%
1,299,749
-3,771,782
-74% -$111M
MDLA
38
DELISTED
Medallia, Inc.
MDLA
$37.1M 0.22%
1,853,183
+1,115,590
+151% +$30M
SE icon
39
Sea Limited
SE
$72B
$1.2M 0.01%
27,000
-6,138,422
-100% -$275M
CRM icon
40
Salesforce
CRM
$171B
– –
-4,140,694
Closed -$673M
CSX icon
41
CALL
CSX Corp
CSX
$95.6B
– –
-4,044,000
Closed -$97.5M
CSX icon
42
CSX Corp
CSX
$95.6B
– –
-36,000
Closed -$868K
DPZ icon
43
Domino's
DPZ
$11.3B
– –
-1,731,133
Closed -$509M
DXCM icon
44
DexCom
DXCM
$34.8B
– –
-4,235,580
Closed -$232M
HLF icon
45
Herbalife
HLF
$1.33B
– –
-3,892,688
Closed -$186M
ILMN icon
46
Illumina
ILMN
$33.1B
– –
-534,363
Closed -$172M
IQV icon
47
IQVIA
IQV
$42.8B
– –
-3,082,174
Closed -$476M
MELI icon
48
Mercado Libre
MELI
$97.5B
– –
-970,749
Closed -$555M
MO icon
49
Altria Group
MO
$110B
– –
-3,536,654
Closed -$177M
UBER icon
50
Uber
UBER
$161B
– –
-3,084,950
Closed -$91.7M
1
2
3

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Stephen Mandel's Q1 2020 Portfolio in Review

As of Q1 2020, Stephen Mandel held 53 positions worth $16.9B, down 11% from $18.9B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Stephen Mandel's Q1 2020 filing shows 10 new, 17 increased, 12 reduced and 14 closed positions. Its largest new stake was Visa: 3,329,975 shares worth $537M. The largest sale was Salesforce, an estimated $673M.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Stephen Mandel's largest Q1 2020 buy was Visa: 3,329,975 shares worth $537M.
  • Stephen Mandel added most to Carvana in Q1 2020, an estimated $317M increase.
  • Stephen Mandel's biggest Q1 2020 reduction was Sea Limited, cutting an estimated $275M.
  • Stephen Mandel fully exited Salesforce in Q1 2020, selling an estimated $673M.
  • Stephen Mandel's ten largest holdings make up 53% of its $16.9B portfolio in Q1 2020.
  • Stephen Mandel opened 10 new positions and closed 14 in Q1 2020.
  • Stephen Mandel's portfolio value fell 11% quarter-over-quarter to $16.9B.

Based on Lone Pine Capital's 13F filing for Q1 2020, filed 15 May 2020.