Stephen Mandel Lone Pine Capital
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$634M |
| 2 |
Charter Communications
CHTR
|
+$492M |
| 3 |
Cheniere Energy
LNG
|
+$483M |
| 4 |
Mohawk Industries
MHK
|
+$425M |
| 5 |
Capri Holdings
CPRI
|
+$356M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$564M |
| 2 |
Cognizant
CTSH
|
+$538M |
| 3 |
Liberty Global Class C
LBTYK
|
+$472M |
| 4 |
Intercontinental Exchange
ICE
|
+$400M |
| 5 |
AutoNation
AN
|
+$302M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 22.9% |
| 2 | Technology | 17.37% |
| 3 | Communication Services | 15.6% |
| 4 | Healthcare | 11.38% |
| 5 | Financials | 10.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
CALL
Baidu
BIDU
$31.6B
| – | – |
-780,000
| Closed | -$146M |
|
52
ICICI Bank
IBN
$107B
| – | – |
-3,628,510
| Closed | -$32.9M |
|
53
JD.com
JD
$39.7B
| – | – |
-8,405,200
| Closed | -$240M |
|
54
Liberty Global Class A
LBTYA
$3.63B
| – | – |
-7,904,952
| Closed | -$288M |
|
55
CALL
Microsoft
MSFT
$3.59T
| – | – |
-1,400,000
| Closed | -$58.4M |
|
56
Oceaneering
OII
$5.28B
| – | – |
-3,809,894
| Closed | -$298M |
|
57
Trip.com Group
TCOM
$29B
| – | – |
-2,317,826
| Closed | -$74.2M |
|
58
Williams Companies
WMB
$86.2B
| – | – |
-4,895,000
| Closed | -$285M |
|
|
LL
59
DELISTED
LL Flooring Holdings, Inc.
LL
| – | – |
-2,619,839
| Closed | -$199M |
|
|
SFUN
60
DELISTED
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
| – | – |
-507,239
| Closed | -$248M |
|
|
TFCFA
61
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| – | – |
-16,045,522
| Closed | -$564M |
|
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Stephen Mandel's Q3 2014 Portfolio in Review
As of Q3 2014, Stephen Mandel held 61 positions worth $25.6B, up 3.5% from $24.7B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Stephen Mandel's Q3 2014 filing shows 8 new, 17 increased, 12 reduced and 13 closed positions. Its largest new stake was Meta Platforms (Facebook): 8,638,513 shares worth $683M. The largest sale was Twenty-First Century Fox, Inc. Class A, an estimated $564M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 21% a quarter earlier, followed by Technology and Communication Services.
- Stephen Mandel's largest Q3 2014 buy was Meta Platforms (Facebook): 8,638,513 shares worth $683M.
- Stephen Mandel added most to Cheniere Energy in Q3 2014, an estimated $483M increase.
- Stephen Mandel's biggest Q3 2014 reduction was Cognizant, cutting an estimated $538M.
- Stephen Mandel fully exited Twenty-First Century Fox, Inc. Class A in Q3 2014, selling an estimated $564M.
- Stephen Mandel's ten largest holdings make up 43% of its $25.6B portfolio in Q3 2014.
- Stephen Mandel opened 8 new positions and closed 13 in Q3 2014.
- Stephen Mandel's portfolio value rose 3.5% quarter-over-quarter to $25.6B.
Based on Lone Pine Capital's 13F filing for Q3 2014, filed 14 Nov 2014.