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 |
Illumina
ILMN
|
+$560M |
| 2 |
Microsoft
MSFT
|
+$553M |
| 3 |
Charter Communications
CHTR
|
+$369M |
| 4 |
HBI
Hanesbrands
HBI
|
+$248M |
| 5 |
WBA
Walgreens Boots Alliance
WBA
|
+$225M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Baidu
BIDU
|
+$1.1B |
| 2 |
Apple
AAPL
|
+$851M |
| 3 |
Capri Holdings
CPRI
|
+$738M |
| 4 |
Canadian Pacific Kansas City
CP
|
+$575M |
| 5 |
Vipshop
VIPS
|
+$322M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 20.01% |
| 2 | Healthcare | 18.37% |
| 3 | Technology | 13.65% |
| 4 | Financials | 9.42% |
| 5 | Communication Services | 7.8% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Perrigo
PRGO
$1.98B
| $69.5M | 0.26% |
+375,924
| New | +$71.7M |
|
52
CSX Corp
CSX
$95.6B
| $68.2M | 0.26% |
+6,264,900
| New | +$72.6M |
|
|
SHLD
53
PUT
DELISTED
Sears Holding Corporation
SHLD
| $57.8M | 0.22% |
2,163,100
| – | – |
|
|
EA
54
DELISTED
Electronic Arts
EA
| $52.8M | 0.2% |
+794,440
| New | +$48.9M |
|
|
SCHW
55
Charles Schwab
SCHW
$194B
| $24.4M | 0.09% |
+748,520
| New | +$23.7M |
|
|
KSU
56
DELISTED
Kansas City Southern
KSU
| $21.1M | 0.08% |
+231,220
| New | +$22.8M |
|
|
57
Apple
AAPL
$4.51T
| – | – |
-27,354,088
| Closed | -$851M |
|
|
58
Baidu
BIDU
$31.6B
| – | – |
-5,281,484
| Closed | -$1.1B |
|
|
59
Canadian Pacific Kansas City
CP
$85B
| – | – |
-15,736,325
| Closed | -$575M |
|
|
60
Capri Holdings
CPRI
$1.55B
| – | – |
-11,225,155
| Closed | -$738M |
|
61
Cognizant
CTSH
$27.9B
| – | – |
-1,093,374
| Closed | -$68.2M |
|
62
Jazz Pharmaceuticals
JAZZ
$16.5B
| – | – |
-260,985
| Closed | -$45.1M |
|
63
PUT
Transocean
RIG
$6.61B
| – | – |
-2,400,000
| Closed | -$35.2M |
|
|
64
Vipshop
VIPS
$6.98B
| – | – |
-10,943,918
| Closed | -$322M |
|
|
CDK
65
DELISTED
CDK Global, Inc.
CDK
| – | – |
-2,636,255
| Closed | -$123M |
|
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Stephen Mandel's Q2 2015 Portfolio in Review
As of Q2 2015, Stephen Mandel held 65 positions worth $26.7B, up 1.1% from $26.4B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Stephen Mandel's Q2 2015 filing shows 11 new, 20 increased, 14 reduced and 9 closed positions. Its largest new stake was Hanesbrands: 7,588,105 shares worth $253M. The largest sale was Baidu, an estimated $1.1B.
By sector, the portfolio is most concentrated in Consumer Discretionary at 20% of assets, down from 22% a quarter earlier, followed by Healthcare and Technology.
- Stephen Mandel's largest Q2 2015 buy was Hanesbrands: 7,588,105 shares worth $253M.
- Stephen Mandel added most to Illumina in Q2 2015, an estimated $560M increase.
- Stephen Mandel's biggest Q2 2015 reduction was Mastercard, cutting an estimated $298M.
- Stephen Mandel fully exited Baidu in Q2 2015, selling an estimated $1.1B.
- Stephen Mandel's ten largest holdings make up 45% of its $26.7B portfolio in Q2 2015.
- Stephen Mandel opened 11 new positions and closed 9 in Q2 2015.
- Stephen Mandel's portfolio value rose 1.1% quarter-over-quarter to $26.7B.
Based on Lone Pine Capital's 13F filing for Q2 2015, filed 14 Aug 2015.