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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
+0.87%
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
$23B
AUM Growth
-$244M
Cap. Flow
-$36.6M
Cap. Flow %
-0.16%
Top 10 Hldgs %
42.53%
Holding
67
New
12
Increased
18
Reduced
19
Closed
15

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$471M
2
LBTYK icon
Liberty Global Class C
LBTYK
+$450M
3
LPLA icon
LPL Financial
LPLA
+$450M
4
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
+$436M
5
ADBE icon
Adobe
ADBE
+$423M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$734M
2
DG icon
Dollar General
DG
+$498M
3
DLTR icon
Dollar Tree
DLTR
+$459M
4
AXP icon
American Express
AXP
+$399M
5
VRSN icon
VeriSign
VRSN
+$379M

Sector Composition

Rank Sector Weight
1 Technology 21.11%
2 Consumer Discretionary 18.48%
3 Communication Services 13.63%
4 Real Estate 12.01%
5 Financials 11.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NBIS
51
Nebius Group N.V.
NBIS
$59.6B
$29.8M 0.13%
+987,950
New +$36.5M
ICE icon
52
CALL
Intercontinental Exchange
ICE
$90.5B
$12M 0.05%
303,000
– –
AXP icon
53
CALL
American Express
AXP
$227B
– –
-1,670,000
Closed -$152M
AXP icon
54
American Express
AXP
$227B
– –
-4,392,879
Closed -$399M
CHTR icon
55
Charter Communications
CHTR
$17.9B
– –
-774,527
Closed -$106M
CME icon
56
CALL
CME Group
CME
$98.9B
– –
-2,000,000
Closed -$157M
CME icon
57
CME Group
CME
$98.9B
– –
-3,614,948
Closed -$284M
DLTR icon
58
Dollar Tree
DLTR
$25.3B
– –
-8,128,196
Closed -$459M
FWONA icon
59
Liberty Media Series A
FWONA
$24.2B
– –
-8,566,070
Closed -$223M
LOW icon
60
Lowe's Companies
LOW
$121B
– –
-2,114,588
Closed -$105M
UNG icon
61
PUT
United States Natural Gas Fund
UNG
$506M
– –
-1,031,250
Closed -$341M
VRSN icon
62
VeriSign
VRSN
$25.5B
– –
-6,344,858
Closed -$379M
SFUN
63
CALL
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
– –
-4,500
Closed -$3.71M
SEMG
64
DELISTED
SEMGROUP CORPORATION
SEMG
– –
-3,906,318
Closed -$255M
MJN
65
DELISTED
Mead Johnson Nutrition Company
MJN
– –
-3,560,693
Closed -$298M
TW
66
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
– –
-1,098,124
Closed -$140M
KMI.WS
67
DELISTED
Kinder Morgan Inc
KMI.WS
– –
-69,913,434
Closed -$284M
1 2
3

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Stephen Mandel's Q1 2014 Portfolio in Review

As of Q1 2014, Stephen Mandel held 67 positions worth $23B, down 1.1% from $23.2B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Stephen Mandel's Q1 2014 filing shows 12 new, 18 increased, 19 reduced and 15 closed positions. Its largest new stake was Allergan plc: 2,378,308 shares worth $490M. The largest sale was Booking.com, an estimated $734M.

By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 19% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Stephen Mandel's largest Q1 2014 buy was Allergan plc: 2,378,308 shares worth $490M.
  • Stephen Mandel added most to Liberty Global Class C in Q1 2014, an estimated $450M increase.
  • Stephen Mandel's biggest Q1 2014 reduction was Booking.com, cutting an estimated $734M.
  • Stephen Mandel fully exited Dollar Tree in Q1 2014, selling an estimated $459M.
  • Stephen Mandel's ten largest holdings make up 43% of its $23B portfolio in Q1 2014.
  • Stephen Mandel opened 12 new positions and closed 15 in Q1 2014.
  • Stephen Mandel's portfolio value fell 1.1% quarter-over-quarter to $23B.

Based on Lone Pine Capital's 13F filing for Q1 2014, filed 15 May 2014.