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Stephen Mandel Lone Pine Capital
AUM
$16.4B
Turnover
57.14%
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
+351.81%
5 Year Est. Return
+339.1%
10 Year Est. Return
+2,106.13%
AUM
$25.6B
AUM Growth
+$854M
(+3.5%)
Cap. Flow
+$424M
Cap. Flow % of AUM
Cap. Flow %
1.66%
Top 10 Holdings %
Top 10 Hldgs %
42.92%
Holding
61
New
8
Increased
17
Reduced
12
Closed
13
Avg Time Held
Equity + Options
0.6
years
Top 10 Avg Time Held
Equity + Options
0.6
years
Top 20 Avg Time Held
Equity + Options
0.6
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.6
years
Top 20 Avg Time Held Equity only
0.6
years
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
Baidu
BIDU
$26.4B
| $1.79B | 6.98% |
8,188,393
-735,000
| -8% | -$155M |
2013 Q3
4 quarters
|
|
2
Bausch Health
BHC
$3.09B
| $1.44B | 5.63% |
10,985,940
+896,490
| +9% | +$107M |
2013 Q2
5 quarters
|
|
|
3
Capri Holdings
CPRI
$2.11B
| $1.14B | 4.45% |
15,954,399
+4,428,902
| +38% | +$356M |
2013 Q2
5 quarters
|
|
4
Mastercard
MA
$569B
| $1.11B | 4.36% |
15,082,787
+3,316,475
| +28% | +$253M |
2013 Q3
4 quarters
|
|
5
Microsoft
MSFT
$3.88T
| $1.04B | 4.05% |
22,335,690
-4,011,514
| -15% | -$179M |
2013 Q4
3 quarters
|
|
6
SBA Communications
SBAC
$19.5B
| $962M | 3.76% |
8,670,738
-30,000
| -0.3% | -$3.24M |
2013 Q4
3 quarters
|
|
7
Corpay
CPAY
$29.2B
| $936M | 3.66% |
6,589,236
+550,620
| +9% | +$75.8M |
2013 Q2
5 quarters
|
|
|
MHFI
8
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $915M | 3.57% |
10,833,547
-1,670,000
| -13% | -$137M |
2013 Q4
3 quarters
|
|
9
Booking.com
BKNG
$120B
| $845M | 3.3% |
18,231,625
+940,475
| +5% | +$46.3M |
2013 Q2
5 quarters
|
|
|
10
Cognizant
CTSH
$28.5B
| $809M | 3.16% |
18,068,688
-11,441,147
| -39% | -$538M |
2013 Q2
5 quarters
|
|
11
The Gap Inc
GAP
$7.46B
| $803M | 3.14% |
19,265,265
| – | – |
2013 Q2
5 quarters
|
|
12
Adobe
ADBE
$92.8B
| $793M | 3.1% |
11,467,010
-422,474
| -4% | -$29.9M |
2014 Q1
2 quarters
|
|
13
Comcast
CMCSA
$88.1B
| $741M | 2.89% |
27,544,918
+3,242,340
| +13% | +$88.8M |
2014 Q2
1 quarter
|
|
14
Canadian Pacific Kansas City
CP
$82.3B
| $728M | 2.84% |
17,538,320
-8,025
| -0% | -$314K |
2014 Q2
1 quarter
|
|
|
15
Meta Platforms (Facebook)
META
$1.59T
| $683M | 2.67% |
+8,638,513
| New | +$634M |
2014 Q3
0 quarters
|
|
|
TIF
16
DELISTED
Tiffany & Co.
TIF
| $660M | 2.58% |
6,852,021
+2,613,149
| +62% | +$261M |
2014 Q1
2 quarters
|
|
17
Crown Castle
CCI
$38.2B
| $632M | 2.47% |
7,845,871
-579,200
| -7% | -$44.7M |
2013 Q2
5 quarters
|
|
18
Ulta Beauty
ULTA
$27.8B
| $615M | 2.4% |
5,202,611
| – | – |
2013 Q2
5 quarters
|
|
|
AGN
19
DELISTED
Allergan plc
AGN
| $598M | 2.34% |
2,478,628
| – | – |
2014 Q1
2 quarters
|
|
20
Dollar General
DG
$29.7B
| $569M | 2.22% |
9,305,845
+2,196,502
| +31% | +$131M |
2013 Q2
5 quarters
|
|
21
Equinix
EQIX
$106B
| $563M | 2.2% |
2,649,060
+349,844
| +15% | +$75.1M |
2014 Q1
2 quarters
|
|
|
22
Cheniere Energy
LNG
$63.2B
| $553M | 2.16% |
6,906,909
+6,339,309
| +1,117% | +$483M |
2014 Q2
1 quarter
|
|
23
Wynn Resorts
WYNN
$8.55B
| $525M | 2.05% |
2,804,989
+733,936
| +35% | +$145M |
2014 Q1
2 quarters
|
|
24
DELISTED
Anywhere Real Estate
HOUS
| $508M | 1.98% |
13,652,898
| – | – |
2013 Q2
5 quarters
|
|
|
25
Charter Communications
CHTR
$15.2B
| $470M | 1.84% |
+3,105,814
| New | +$492M |
2014 Q3
0 quarters
|
|
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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.