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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
-2.15%
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
$10.4B
AUM Growth
-$538M
Cap. Flow
-$116M
Cap. Flow %
-1.12%
Top 10 Hldgs %
56.79%
Holding
33
New
4
Increased
7
Reduced
10
Closed
7

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$837M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$403M
3
XYZ
Block Inc
XYZ
+$241M
4
MA icon
Mastercard
MA
+$229M
5
SGI
Somnigroup International
SGI
+$212M

Top Sells

Rank Stock Value
1
RH icon
RH
RH
+$584M
2
V icon
Visa
V
+$295M
3
BBWI icon
Bath & Body Works
BBWI
+$278M
4
NVDA icon
NVIDIA
NVDA
+$271M
5
MSFT icon
Microsoft
MSFT
+$228M

Sector Composition

Rank Sector Weight
1 Technology 36.15%
2 Consumer Discretionary 20.92%
3 Financials 20.11%
4 Communication Services 14.94%
5 Healthcare 4.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVDX
26
DELISTED
AvidXchange
AVDX
$48.2M 0.46%
5,080,632
– –
LNG icon
27
Cheniere Energy
LNG
$57.3B
– –
-8,338
Closed -$1.27M
MQ icon
28
Marqeta
MQ
$1.7B
– –
-1,225,548
Closed -$23.9M
MRNA icon
29
Moderna
MRNA
$57.9B
– –
-1,529,618
Closed -$186M
NVDA icon
30
NVIDIA
NVDA
$5.2T
– –
-6,416,490
Closed -$271M
RH icon
31
RH
RH
$2.9B
– –
-1,773,069
Closed -$584M
SG icon
32
Sweetgreen
SG
$832M
– –
-4,556,503
Closed -$58.4M
V icon
33
Visa
V
$693B
– –
-1,241,941
Closed -$295M
1
2

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Stephen Mandel's Q3 2023 Portfolio in Review

As of Q3 2023, Stephen Mandel held 33 positions worth $10.4B, down 4.9% from $10.9B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Stephen Mandel's Q3 2023 filing shows 4 new, 7 increased, 10 reduced and 7 closed positions. Its largest new stake was Meta Platforms (Facebook): 2,779,103 shares worth $834M. The largest sale was RH, an estimated $584M.

By sector, the portfolio is most concentrated in Technology at 36% of assets, down from 37% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Stephen Mandel's largest Q3 2023 buy was Meta Platforms (Facebook): 2,779,103 shares worth $834M.
  • Stephen Mandel added most to Mastercard in Q3 2023, an estimated $229M increase.
  • Stephen Mandel's biggest Q3 2023 reduction was Bath & Body Works, cutting an estimated $278M.
  • Stephen Mandel fully exited RH in Q3 2023, selling an estimated $584M.
  • Stephen Mandel's ten largest holdings make up 57% of its $10.4B portfolio in Q3 2023.
  • Stephen Mandel opened 4 new positions and closed 7 in Q3 2023.
  • Stephen Mandel's portfolio value fell 4.9% quarter-over-quarter to $10.4B.

Based on Lone Pine Capital's 13F filing for Q3 2023, filed 14 Nov 2023.