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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
+7.07%
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
$12.3B
AUM Growth
-$342M
Cap. Flow
-$926M
Cap. Flow %
-7.51%
Top 10 Hldgs %
58.14%
Holding
30
New
4
Increased
9
Reduced
6
Closed
6

Top Buys

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$463M
2
HWM icon
Howmet Aerospace
HWM
+$278M
3
GEV icon
GE Vernova
GEV
+$234M
4
ARES icon
Ares Management
ARES
+$215M
5
MA icon
Mastercard
MA
+$165M

Top Sells

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$723M
2
WDAY icon
Workday
WDAY
+$386M
3
META icon
Meta Platforms (Facebook)
META
+$361M
4
LYV icon
Live Nation Entertainment
LYV
+$340M
5
DKS icon
Dick's Sporting Goods
DKS
+$270M

Sector Composition

Rank Sector Weight
1 Technology 33.74%
2 Financials 14.7%
3 Consumer Discretionary 13.94%
4 Communication Services 13.85%
5 Utilities 7.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DKS icon
26
Dick's Sporting Goods
DKS
$16.4B
– –
-1,198,897
Closed -$270M
EPAM icon
27
EPAM Systems
EPAM
$5.69B
– –
-929,917
Closed -$257M
IBN icon
28
ICICI Bank
IBN
$107B
– –
-9,642,665
Closed -$255M
LYV icon
29
Live Nation Entertainment
LYV
$42.4B
– –
-3,217,551
Closed -$340M
WDAY icon
30
Workday
WDAY
$49.4B
– –
-1,414,824
Closed -$386M
1
2

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Stephen Mandel's Q2 2024 Portfolio in Review

As of Q2 2024, Stephen Mandel held 30 positions worth $12.3B, down 2.7% from $12.7B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Stephen Mandel withdrew a net $926M in Q2 2024, closing 6 positions and reducing 6 holdings. Its most notable exit was Salesforce, an estimated $723M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, down from 42% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Stephen Mandel opened a new position in UnitedHealth worth $481M.

  • Stephen Mandel's largest Q2 2024 buy was UnitedHealth: 944,317 shares worth $481M.
  • Stephen Mandel added most to Mastercard in Q2 2024, an estimated $165M increase.
  • Stephen Mandel's biggest Q2 2024 reduction was Meta Platforms (Facebook), cutting an estimated $361M.
  • Stephen Mandel fully exited Salesforce in Q2 2024, selling an estimated $723M.
  • Stephen Mandel's ten largest holdings make up 58% of its $12.3B portfolio in Q2 2024.
  • Stephen Mandel opened 4 new positions and closed 6 in Q2 2024.
  • Stephen Mandel's portfolio value fell 2.7% quarter-over-quarter to $12.3B.

Based on Lone Pine Capital's 13F filing for Q2 2024, filed 14 Aug 2024.