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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
+3.56%
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
$25.6B
AUM Growth
+$854M
Cap. Flow
+$283M
Cap. Flow %
1.11%
Top 10 Hldgs %
42.92%
Holding
61
New
8
Increased
17
Reduced
12
Closed
13

Top Buys

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$634M
2
CHTR icon
Charter Communications
CHTR
+$492M
3
LNG icon
Cheniere Energy
LNG
+$483M
4
MHK icon
Mohawk Industries
MHK
+$425M
5
CPRI icon
Capri Holdings
CPRI
+$356M

Top Sells

Rank Stock Value
1
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$564M
2
CTSH icon
Cognizant
CTSH
+$538M
3
LBTYK icon
Liberty Global Class C
LBTYK
+$472M
4
ICE icon
Intercontinental Exchange
ICE
+$400M
5
AN icon
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
BIDU icon
1
Baidu
BIDU
$31.6B
$1.79B 6.98%
8,188,393
-735,000
-8% -$155M
BHC icon
2
Bausch Health
BHC
$2.41B
$1.44B 5.63%
10,985,940
+896,490
+9% +$107M
CPRI icon
3
Capri Holdings
CPRI
$1.55B
$1.14B 4.45%
15,954,399
+4,428,902
+38% +$356M
MA icon
4
Mastercard
MA
$509B
$1.11B 4.36%
15,082,787
+3,316,475
+28% +$253M
MSFT icon
5
Microsoft
MSFT
$3.59T
$1.04B 4.05%
22,335,690
-4,011,514
-15% -$179M
SBAC icon
6
SBA Communications
SBAC
$19.4B
$962M 3.76%
8,670,738
-30,000
-0.3% -$3.24M
CPAY icon
7
Corpay
CPAY
$27.4B
$936M 3.66%
6,589,236
+550,620
+9% +$75.8M
MHFI
8
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$915M 3.57%
10,833,547
-1,670,000
-13% -$137M
BKNG icon
9
Booking.com
BKNG
$158B
$845M 3.3%
18,231,625
+940,475
+5% +$46.3M
CTSH icon
10
Cognizant
CTSH
$27.9B
$809M 3.16%
18,068,688
-11,441,147
-39% -$538M
GAP
11
The Gap Inc
GAP
$7.13B
$803M 3.14%
19,265,265
– –
ADBE icon
12
Adobe
ADBE
$109B
$793M 3.1%
11,467,010
-422,474
-4% -$29.9M
CMCSA icon
13
Comcast
CMCSA
$95.3B
$741M 2.89%
27,544,918
+3,242,340
+13% +$88.8M
CP icon
14
Canadian Pacific Kansas City
CP
$85B
$728M 2.84%
17,538,320
-8,025
-0% -$314K
META icon
15
Meta Platforms (Facebook)
META
$1.4T
$683M 2.67%
+8,638,513
New +$634M
TIF
16
DELISTED
Tiffany & Co.
TIF
$660M 2.58%
6,852,021
+2,613,149
+62% +$261M
CCI icon
17
Crown Castle
CCI
$32.1B
$632M 2.47%
7,845,871
-579,200
-7% -$44.7M
ULTA icon
18
Ulta Beauty
ULTA
$22.4B
$615M 2.4%
5,202,611
– –
AGN
19
DELISTED
Allergan plc
AGN
$598M 2.34%
2,478,628
– –
DG icon
20
Dollar General
DG
$27.2B
$569M 2.22%
9,305,845
+2,196,502
+31% +$131M
EQIX icon
21
Equinix
EQIX
$105B
$563M 2.2%
2,649,060
+349,844
+15% +$75.1M
LNG icon
22
Cheniere Energy
LNG
$57.3B
$553M 2.16%
6,906,909
+6,339,309
+1,117% +$483M
WYNN icon
23
Wynn Resorts
WYNN
$10.3B
$525M 2.05%
2,804,989
+733,936
+35% +$145M
HOUS
24
DELISTED
Anywhere Real Estate
HOUS
$508M 1.98%
13,652,898
– –
CHTR icon
25
Charter Communications
CHTR
$17.9B
$470M 1.84%
+3,105,814
New +$492M
1
2 3

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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.