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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
+12.42%
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
$13.4B
AUM Growth
+$1.08B
Cap. Flow
-$112M
Cap. Flow %
-0.84%
Top 10 Hldgs %
54.85%
Holding
33
New
9
Increased
6
Reduced
12
Closed
4

Top Buys

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$599M
2
LEN icon
Lennar Class A
LEN
+$507M
3
WDAY icon
Workday
WDAY
+$379M
4
SBUX icon
Starbucks
SBUX
+$348M
5
META icon
Meta Platforms (Facebook)
META
+$256M

Top Sells

Rank Stock Value
1
MA icon
Mastercard
MA
+$460M
2
BBWI icon
Bath & Body Works
BBWI
+$442M
3
MCK icon
McKesson
MCK
+$328M
4
TSM icon
TSMC
TSM
+$305M
5
APP icon
Applovin
APP
+$304M

Sector Composition

Rank Sector Weight
1 Technology 33.52%
2 Consumer Discretionary 17.06%
3 Communication Services 14.65%
4 Utilities 11.8%
5 Financials 10.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HUT
26
Hut 8
HUT
$9.97B
$15.1M 0.11%
+1,232,752
New +$16.4M
WULF icon
27
TeraWulf
WULF
$7.8B
$14.4M 0.11%
+3,067,796
New +$13.9M
BTDR icon
28
Bitdeer Technologies
BTDR
$3.09B
$10.2M 0.08%
+1,297,965
New +$10.8M
IREN icon
29
Iris Energy
IREN
$15B
$6.01M 0.04%
+711,839
New +$6.54M
AVDX
30
DELISTED
AvidXchange
AVDX
– –
-5,078,341
Closed -$61.2M
BBWI icon
31
Bath & Body Works
BBWI
$3.92B
– –
-11,315,515
Closed -$442M
MA icon
32
Mastercard
MA
$509B
– –
-1,043,557
Closed -$460M
MCK icon
33
McKesson
MCK
$100B
– –
-560,936
Closed -$328M
1
2

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Stephen Mandel's Q3 2024 Portfolio in Review

As of Q3 2024, Stephen Mandel held 33 positions worth $13.4B, up 8.7% from $12.3B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Stephen Mandel's Q3 2024 filing shows 9 new, 6 increased, 12 reduced and 4 closed positions. Its largest new stake was Salesforce: 2,337,830 shares worth $640M. The largest sale was Mastercard, an estimated $460M.

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

  • Stephen Mandel's largest Q3 2024 buy was Salesforce: 2,337,830 shares worth $640M.
  • Stephen Mandel added most to Meta Platforms (Facebook) in Q3 2024, an estimated $256M increase.
  • Stephen Mandel's biggest Q3 2024 reduction was TSMC, cutting an estimated $305M.
  • Stephen Mandel fully exited Mastercard in Q3 2024, selling an estimated $460M.
  • Stephen Mandel's ten largest holdings make up 55% of its $13.4B portfolio in Q3 2024.
  • Stephen Mandel opened 9 new positions and closed 4 in Q3 2024.
  • Stephen Mandel's portfolio value rose 8.7% quarter-over-quarter to $13.4B.

Based on Lone Pine Capital's 13F filing for Q3 2024, filed 14 Nov 2024.