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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
-4.63%
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
$24.6B
AUM Growth
-$2.17B
Cap. Flow
-$421M
Cap. Flow %
-1.72%
Top 10 Hldgs %
41.87%
Holding
66
New
10
Increased
22
Reduced
15
Closed
14

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$979M
2
STZ icon
Constellation Brands
STZ
+$578M
3
EA
Electronic Arts
EA
+$560M
4
BHC icon
Bausch Health
BHC
+$502M
5
SCHW
Charles Schwab
SCHW
+$406M

Top Sells

Rank Stock Value
1
LOW icon
Lowe's Companies
LOW
+$472M
2
HCA icon
HCA Healthcare
HCA
+$454M
3
ILMN icon
Illumina
ILMN
+$430M
4
HOUS
Anywhere Real Estate
HOUS
+$411M
5
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
+$364M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.09%
2 Healthcare 17.87%
3 Technology 13.15%
4 Communication Services 11.03%
5 Financials 9.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHC icon
1
Bausch Health
BHC
$2.41B
$1.33B 5.42%
7,461,780
+2,151,637
+41% +$502M
BKNG icon
2
Booking.com
BKNG
$158B
$1.23B 5%
24,806,300
-4,988,550
-17% -$248M
CHTR icon
3
Charter Communications
CHTR
$17.9B
$1.15B 4.69%
6,550,257
+1,172,945
+22% +$214M
JD icon
4
JD.com
JD
$39.7B
$1.13B 4.62%
43,495,999
+1,605,441
+4% +$46.4M
MSFT icon
5
Microsoft
MSFT
$3.59T
$1.12B 4.57%
25,339,024
-1,259,500
-5% -$56.6M
AMZN icon
6
Amazon
AMZN
$2.79T
$992M 4.04%
+38,740,040
New +$979M
META icon
7
Meta Platforms (Facebook)
META
$1.4T
$962M 3.92%
10,702,259
+940,537
+10% +$86.3M
CPAY icon
8
Corpay
CPAY
$27.4B
$885M 3.61%
6,434,203
+955,588
+17% +$147M
MA icon
9
Mastercard
MA
$509B
$752M 3.06%
8,343,895
-1,382,737
-14% -$130M
EQIX icon
10
Equinix
EQIX
$105B
$725M 2.95%
2,650,775
-355,169
-12% -$97.4M
AGN
11
DELISTED
Allergan plc
AGN
$709M 2.89%
2,607,655
+309,689
+13% +$95.1M
NKE icon
12
Nike
NKE
$60.5B
$701M 2.86%
11,401,710
-2,910,010
-20% -$165M
V icon
13
Visa
V
$693B
$681M 2.77%
9,769,463
+868,925
+10% +$62M
UVXY icon
14
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$268M
$672M 2.74%
10
– –
WMB icon
15
Williams Companies
WMB
$86.2B
$651M 2.65%
17,675,229
+3,732,081
+27% +$186M
ILMN icon
16
Illumina
ILMN
$33.1B
$635M 2.59%
3,710,808
-2,126,728
-36% -$430M
EA
17
DELISTED
Electronic Arts
EA
$595M 2.42%
8,782,612
+7,988,172
+1,006% +$560M
LNG icon
18
Cheniere Energy
LNG
$57.3B
$591M 2.41%
12,241,775
+4,298,264
+54% +$265M
STZ icon
19
Constellation Brands
STZ
$23.2B
$587M 2.39%
+4,684,214
New +$578M
DVA icon
20
DaVita
DVA
$11.1B
$573M 2.33%
7,918,998
+2,463,224
+45% +$191M
WBA
21
DELISTED
Walgreens Boots Alliance
WBA
$564M 2.3%
6,787,816
+1,589,612
+31% +$144M
CHTR icon
22
CALL
Charter Communications
CHTR
$17.9B
$536M 2.18%
3,050,000
– –
ULTA icon
23
Ulta Beauty
ULTA
$22.4B
$535M 2.18%
3,276,408
+938,738
+40% +$155M
ADBE icon
24
Adobe
ADBE
$109B
$511M 2.08%
6,209,219
-3,055,220
-33% -$248M
TDG icon
25
TransDigm Group
TDG
$66.4B
$471M 1.92%
2,215,423
– –
1
2 3

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Stephen Mandel's Q3 2015 Portfolio in Review

As of Q3 2015, Stephen Mandel held 66 positions worth $24.6B, down 8.1% from $26.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Stephen Mandel's Q3 2015 filing shows 10 new, 22 increased, 15 reduced and 14 closed positions. Its largest new stake was Amazon: 38,740,040 shares worth $992M. The largest sale was Lowe's Companies, an estimated $472M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 20% a quarter earlier, followed by Healthcare and Technology.

  • Stephen Mandel's largest Q3 2015 buy was Amazon: 38,740,040 shares worth $992M.
  • Stephen Mandel added most to Electronic Arts in Q3 2015, an estimated $560M increase.
  • Stephen Mandel's biggest Q3 2015 reduction was Illumina, cutting an estimated $430M.
  • Stephen Mandel fully exited Lowe's Companies in Q3 2015, selling an estimated $472M.
  • Stephen Mandel's ten largest holdings make up 42% of its $24.6B portfolio in Q3 2015.
  • Stephen Mandel opened 10 new positions and closed 14 in Q3 2015.
  • Stephen Mandel's portfolio value fell 8.1% quarter-over-quarter to $24.6B.

Based on Lone Pine Capital's 13F filing for Q3 2015, filed 16 Nov 2015.