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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
+23.5%
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
$27.5B
AUM Growth
+$4.23B
Cap. Flow
+$510M
Cap. Flow %
1.86%
Top 10 Hldgs %
45.93%
Holding
47
New
15
Increased
10
Reduced
15
Closed
6

Top Buys

Rank Stock Value
1
SNAP icon
Snap
SNAP
+$810M
2
DXCM icon
DexCom
DXCM
+$645M
3
CVNA icon
Carvana
CVNA
+$560M
4
MELI icon
Mercado Libre
MELI
+$541M
5
FIS icon
Fidelity National Information Services
FIS
+$400M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$1.18B
2
COF icon
Capital One
COF
+$739M
3
META icon
Meta Platforms (Facebook)
META
+$623M
4
TDG icon
TransDigm Group
TDG
+$358M
5
MTCH icon
Match Group
MTCH
+$339M

Sector Composition

Rank Sector Weight
1 Technology 45.94%
2 Communication Services 16.69%
3 Consumer Discretionary 13.53%
4 Healthcare 12.69%
5 Industrials 7.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FTCH
26
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$515M 1.87%
+8,064,560
New +$357M
NUAN
27
DELISTED
Nuance Communications, Inc.
NUAN
$397M 1.44%
9,009,792
+529,174
+6% +$20.1M
FIS icon
28
Fidelity National Information Services
FIS
$21.3B
$396M 1.44%
+2,799,907
New +$400M
BILL icon
29
BILL Holdings
BILL
$4.76B
$378M 1.37%
2,768,707
+552,441
+25% +$65.1M
DASH icon
30
DoorDash
DASH
$96.8B
$322M 1.17%
+2,256,931
New +$360M
MDB icon
31
MongoDB
MDB
$34.7B
$316M 1.15%
+879,832
New +$246M
BPMC
32
DELISTED
Blueprint Medicines
BPMC
$304M 1.1%
+2,709,138
New +$285M
HWM icon
33
Howmet Aerospace
HWM
$108B
$215M 0.78%
7,527,593
-361,000
-5% -$8.03M
ARGX icon
34
argenx
ARGX
$65B
$158M 0.57%
+536,259
New +$147M
FOLD
35
DELISTED
Amicus Therapeutics
FOLD
$154M 0.56%
+6,678,788
New +$137M
ASND icon
36
Ascendis Pharma A/S
ASND
$16.6B
$149M 0.54%
+894,533
New +$148M
SNOW icon
37
Snowflake
SNOW
$115B
$85M 0.31%
302,060
-700,000
-70% -$199M
FATE icon
38
Fate Therapeutics
FATE
$279M
$80.4M 0.29%
+883,666
New +$54.9M
ZYME icon
39
Zymeworks
ZYME
$2.05B
$46.2M 0.17%
+976,735
New +$45.4M
FMTX
40
DELISTED
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
$27.9M 0.1%
+800,000
New +$34.8M
XP icon
41
XP
XP
$8.53B
$3.2M 0.01%
+80,569
New +$3.29M
BEKE icon
42
KE Holdings
BEKE
$19.6B
– –
-1,000,000
Closed -$61.3M
BKNG icon
43
Booking.com
BKNG
$158B
– –
-1,473,000
Closed -$101M
COF icon
44
Capital One
COF
$134B
– –
-10,278,292
Closed -$739M
PODD icon
45
Insulet
PODD
$10.3B
– –
-462,209
Closed -$109M
PYPL icon
46
PayPal
PYPL
$52.7B
– –
-6,000,915
Closed -$1.18B
TDG icon
47
TransDigm Group
TDG
$66.4B
– –
-754,410
Closed -$358M
1
2

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Stephen Mandel's Q4 2020 Portfolio in Review

As of Q4 2020, Stephen Mandel held 47 positions worth $27.5B, up 18% from $23.3B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Stephen Mandel's Q4 2020 filing shows 15 new, 10 increased, 15 reduced and 6 closed positions. Its largest new stake was Snap: 19,510,587 shares worth $977M. The largest sale was PayPal, an estimated $1.18B.

By sector, the portfolio is most concentrated in Technology at 46% of assets, down from 47% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Stephen Mandel's largest Q4 2020 buy was Snap: 19,510,587 shares worth $977M.
  • Stephen Mandel added most to DexCom in Q4 2020, an estimated $645M increase.
  • Stephen Mandel's biggest Q4 2020 reduction was Meta Platforms (Facebook), cutting an estimated $623M.
  • Stephen Mandel fully exited PayPal in Q4 2020, selling an estimated $1.18B.
  • Stephen Mandel's ten largest holdings make up 46% of its $27.5B portfolio in Q4 2020.
  • Stephen Mandel opened 15 new positions and closed 6 in Q4 2020.
  • Stephen Mandel's portfolio value rose 18% quarter-over-quarter to $27.5B.

Based on Lone Pine Capital's 13F filing for Q4 2020, filed 16 Feb 2021.