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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
+16.19%
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
$31B
AUM Growth
+$3.5B
Cap. Flow
-$220M
Cap. Flow %
-0.71%
Top 10 Hldgs %
52.1%
Holding
47
New
9
Increased
10
Reduced
10
Closed
12

Top Buys

Rank Stock Value
1
MRNA icon
Moderna
MRNA
+$713M
2
BEKE icon
KE Holdings
BEKE
+$668M
3
RH icon
RH
RH
+$663M
4
TWTR
Twitter, Inc.
TWTR
+$607M
5
XYZ
Block Inc
XYZ
+$596M

Top Sells

Rank Stock Value
1
MELI icon
Mercado Libre
MELI
+$1.05B
2
NFLX icon
Netflix
NFLX
+$954M
3
MSFT icon
Microsoft
MSFT
+$648M
4
TEAM icon
Atlassian
TEAM
+$627M
5
BILI icon
Bilibili
BILI
+$450M

Sector Composition

Rank Sector Weight
1 Technology 36.29%
2 Consumer Discretionary 21.71%
3 Communication Services 16.84%
4 Healthcare 10.74%
5 Industrials 7.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STNE icon
26
StoneCo
STNE
$2.16B
$593M 1.91%
8,846,433
+2,312,176
+35% +$150M
TDG icon
27
TransDigm Group
TDG
$66.4B
$464M 1.5%
+717,463
New +$450M
PVH icon
28
PVH
PVH
$3.62B
$293M 0.94%
+2,719,709
New +$299M
FIGS icon
29
FIGS
FIGS
$2.44B
$214M 0.69%
+4,274,577
New +$160M
ASND icon
30
Ascendis Pharma A/S
ASND
$16.6B
$189M 0.61%
1,436,981
– –
FATE icon
31
Fate Therapeutics
FATE
$279M
$152M 0.49%
1,749,284
– –
ZYME icon
32
Zymeworks
ZYME
$2.05B
$33.9M 0.11%
976,735
– –
CFLT
33
DELISTED
Confluent
CFLT
$30.9M 0.1%
+650,000
New +$31.4M
FMTX
34
DELISTED
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
$19.9M 0.06%
800,000
– –
S icon
35
SentinelOne
S
$7.26B
$7.44M 0.02%
+175,000
New +$7.44M
ARGX icon
36
argenx
ARGX
$65B
– –
-546,259
Closed -$150M
BILI icon
37
Bilibili
BILI
$7.14B
– –
-4,200,332
Closed -$450M
BILL icon
38
BILL Holdings
BILL
$4.76B
– –
-2,820,713
Closed -$410M
BPMC
39
DELISTED
Blueprint Medicines
BPMC
– –
-2,709,138
Closed -$263M
MDB icon
40
MongoDB
MDB
$34.7B
– –
-131,371
Closed -$35.1M
MELI icon
41
Mercado Libre
MELI
$97.5B
– –
-715,152
Closed -$1.05B
NFLX icon
42
Netflix
NFLX
$331B
– –
-18,281,200
Closed -$954M
PODD icon
43
Insulet
PODD
$10.3B
– –
-380,690
Closed -$99.3M
SNOW icon
44
Snowflake
SNOW
$115B
– –
-1,267,426
Closed -$291M
TEAM icon
45
Atlassian
TEAM
$43.5B
– –
-2,974,571
Closed -$627M
XM
46
DELISTED
Qualtrics International Inc. Class A Common Stock
XM
– –
-650,000
Closed -$21.4M
NUAN
47
DELISTED
Nuance Communications, Inc.
NUAN
– –
-9,009,792
Closed -$393M
1
2

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Stephen Mandel's Q2 2021 Portfolio in Review

As of Q2 2021, Stephen Mandel held 47 positions worth $31B, up 13% from $27.5B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Stephen Mandel's Q2 2021 filing shows 9 new, 10 increased, 10 reduced and 12 closed positions. Its largest new stake was Moderna: 3,990,897 shares worth $938M. The largest sale was Mercado Libre, an estimated $1.05B.

By sector, the portfolio is most concentrated in Technology at 36% of assets, down from 39% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Stephen Mandel's largest Q2 2021 buy was Moderna: 3,990,897 shares worth $938M.
  • Stephen Mandel added most to Block Inc in Q2 2021, an estimated $596M increase.
  • Stephen Mandel's biggest Q2 2021 reduction was Microsoft, cutting an estimated $648M.
  • Stephen Mandel fully exited Mercado Libre in Q2 2021, selling an estimated $1.05B.
  • Stephen Mandel's ten largest holdings make up 52% of its $31B portfolio in Q2 2021.
  • Stephen Mandel opened 9 new positions and closed 12 in Q2 2021.
  • Stephen Mandel's portfolio value rose 13% quarter-over-quarter to $31B.

Based on Lone Pine Capital's 13F filing for Q2 2021, filed 16 Aug 2021.