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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
+14.55%
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
$22.4B
AUM Growth
+$1.86B
Cap. Flow
-$297M
Cap. Flow %
-1.33%
Top 10 Hldgs %
38.88%
Holding
71
New
12
Increased
19
Reduced
18
Closed
14

Top Buys

Rank Stock Value
1
BIDU icon
Baidu
BIDU
+$682M
2
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$589M
3
MA icon
Mastercard
MA
+$440M
4
DVA icon
DaVita
DVA
+$361M
5
MON
Monsanto Co
MON
+$316M

Top Sells

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$700M
2
ISRG icon
Intuitive Surgical
ISRG
+$588M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$474M
4
RL icon
Ralph Lauren
RL
+$457M
5
NWSA
NEWS CORPORATION CL-A
NWSA
+$448M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 23.13%
2 Communication Services 15.61%
3 Technology 14.37%
4 Consumer Staples 8.61%
5 Financials 8.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DG icon
1
Dollar General
DG
$27.2B
$998M 4.46%
17,684,604
+4,029,435
+30% +$221M
CTSH icon
2
Cognizant
CTSH
$27.9B
$982M 4.38%
23,913,502
-2,564,328
-10% -$95.2M
BKNG icon
3
Booking.com
BKNG
$158B
$980M 4.38%
24,239,200
-18,720,950
-44% -$700M
MON
4
DELISTED
Monsanto Co
MON
$976M 4.36%
9,354,853
+3,147,590
+51% +$316M
GAP
5
The Gap Inc
GAP
$7.13B
$898M 4.01%
22,305,225
+3,148,743
+16% +$136M
QCOM icon
6
Qualcomm
QCOM
$169B
$897M 4.01%
13,329,083
+4,012,785
+43% +$263M
BIDU icon
7
Baidu
BIDU
$31.6B
$821M 3.67%
+5,289,262
New +$682M
BHC icon
8
Bausch Health
BHC
$2.41B
$812M 3.63%
7,781,707
-230,800
-3% -$22.5M
CPRI icon
9
Capri Holdings
CPRI
$1.55B
$714M 3.19%
9,583,229
+657,954
+7% +$45.9M
TFCFA
10
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$627M 2.8%
+18,700,570
New +$589M
EBAY icon
11
eBay
EBAY
$46.3B
$609M 2.72%
25,952,561
-10,912,559
-30% -$245M
ULTA icon
12
Ulta Beauty
ULTA
$22.4B
$566M 2.53%
4,737,930
-381,574
-7% -$39.6M
HOUS
13
DELISTED
Anywhere Real Estate
HOUS
$516M 2.31%
12,003,398
+4,102,593
+52% +$186M
CPAY icon
14
Corpay
CPAY
$27.4B
$503M 2.24%
4,562,496
-787,851
-15% -$77M
MJN
15
DELISTED
Mead Johnson Nutrition Company
MJN
$492M 2.2%
6,629,859
-777,876
-11% -$58.3M
AXP icon
16
American Express
AXP
$227B
$472M 2.11%
6,244,519
+2,524,671
+68% +$190M
MA icon
17
Mastercard
MA
$509B
$471M 2.1%
+7,006,040
New +$440M
CCI icon
18
Crown Castle
CCI
$32.1B
$463M 2.07%
6,340,454
+1,288,311
+26% +$92.1M
DLTR icon
19
Dollar Tree
DLTR
$25.3B
$437M 1.95%
7,648,196
-405,000
-5% -$21.9M
CME icon
20
CME Group
CME
$98.9B
$415M 1.86%
5,623,300
+1,724,224
+44% +$127M
EQIX icon
21
Equinix
EQIX
$105B
$398M 1.78%
2,167,116
+80,000
+4% +$14.5M
KMI icon
22
Kinder Morgan
KMI
$69B
$388M 1.73%
10,913,487
-1,379,251
-11% -$51.7M
META icon
23
Meta Platforms (Facebook)
META
$1.4T
$384M 1.71%
7,635,995
-2,228,624
-23% -$82.9M
KMI.WS
24
DELISTED
Kinder Morgan Inc
KMI.WS
$359M 1.6%
72,279,395
+6,821,591
+10% +$35.9M
DVA icon
25
DaVita
DVA
$11.1B
$359M 1.6%
+6,302,027
New +$361M
1
2 3

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Stephen Mandel's Q3 2013 Portfolio in Review

As of Q3 2013, Stephen Mandel held 71 positions worth $22.4B, up 9.1% from $20.5B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Stephen Mandel's Q3 2013 filing shows 12 new, 19 increased, 18 reduced and 14 closed positions. Its largest new stake was Baidu: 5,289,262 shares worth $821M. The largest sale was Booking.com, an estimated $700M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, down from 30% a quarter earlier, followed by Communication Services and Technology.

  • Stephen Mandel's largest Q3 2013 buy was Baidu: 5,289,262 shares worth $821M.
  • Stephen Mandel added most to Monsanto Co in Q3 2013, an estimated $316M increase.
  • Stephen Mandel's biggest Q3 2013 reduction was Booking.com, cutting an estimated $700M.
  • Stephen Mandel fully exited Intuitive Surgical in Q3 2013, selling an estimated $588M.
  • Stephen Mandel's ten largest holdings make up 39% of its $22.4B portfolio in Q3 2013.
  • Stephen Mandel opened 12 new positions and closed 14 in Q3 2013.
  • Stephen Mandel's portfolio value rose 9.1% quarter-over-quarter to $22.4B.

Based on Lone Pine Capital's 13F filing for Q3 2013, filed 14 Nov 2013.